How do you use bitcoins?
Today, Bitcoin can be used for spending purpose. That is similar to money.
Some of the people also keep them for investment purposes, while others prefer to use them as a method to create international money transfer.
Bitcoin exists electronically.
Bitcoin kept in ‘Bitcoin Wallets
There are a few types of Bitcoin Wallets. They have varying security mechanism to ensure the safety of private keys.
1) Desktop wallet
2) Mobile wallet
3) Online / Web-based wallet
4) Hardware wallet
5) Paper wallet
Wallet types may overlap or used in combination with each other. I’m going to tell on what to expect from each type and wallet feature a few examples you can try out.
Bitcoin Desktop Wallet :
Bitcoin Desktop Wallet - provide one of the top level of security in terms of bitcoin storage. People must download the software to their computer and its perform bitcoin transactions from desktops, This options may not be practical for some people. It can be technical and confusing for bitcoin new users.
Bitcoin Mobile Wallet:
Bitcoin Mobile Wallet - not only parctical & accessible. Many also incorporate other layers of security to ensure customer’s bitcoin are not compromised. This option is a good idea to keep only a small amount of bitcoins in Mobile Wallet while keeping the rest in more secure functions.
“Below all recommendations are available for both Android and iOS users”
Online Bitcoin Wallet:
Online bitcoin wallet - Easily accessibly on the Web via any type of device so long as it can be connected to the Internet. This option is faster and easier to create transactions via online wallets due to its accessibility. Malware, Insider hacking (or) Phishing (or) Plain lack of digital security knowledge makes it easy for hackers to steal bitcoins from online wallets.
The failure of two bitcoin exchanges (Bitfinex and Mt Gox) make people wary of such services.
Although the Online Bitcoin Wallets recommended in this section have highly reputation, we suggest people keep larger amounts of bitcoins in other types of wallets.
Bitcoin Hardware Wallet
The method of choice for all Bitcoin holders to keep significant quantities of bitcoins. Hardware Bitcoin Wallets are portable and user friendly. All of these play and plug options give customers complete control of their own bitcoins.
Bitcoin Paper Wallet
Bitcoin paper wallets are secure against hackers as the bitcoins are brought offline. Customers have full control of their Bitcoins at all times as they keep their own private keys.
The main disadvantages or problem is storage.
Paper Wallets can be destroy, fade or otherwise may lost. Unlike hardware wallets, there is no recovery mechanism for paper wallets. So this lost bitcoins are lost forever. To a new bitcoin user, this information might seem difficult to deal this options. You might have heard of bitcoin losses due to Malware , Hacks, or Simply human errors.
One of the advantages of Bitcoin Wallet , You can get some Discount Coupons from bitcoin wallets !! So, Bitcoin Wallet discounts also makes you a millionaire!!
This kind of all information you need to keep in mind, if you want to use this option!!
Don't Worry … We are always here for you ! We provide our great service - is constant statement of CoinJoker!!
Next Article , We will discuss about the Hot Topic “how to Buy, Sell and Spend Bitcoin?” catch you millionaire..!!