Tuesday, 19 December 2017

BITCOIN WALLET AND TYPES

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Bitcoin wallets are of 4 types

~Hardware wallets
~Software wallets
~online wallets
~paper wallets

Software wallets require the download of software clients to use and create a wallets. Software wallets are also hot wallets that are available for both mobile and desktop platforms.

Online wallets are the easiest wallets to use among the different hot wallets.We can access this wallets in any device which has internet connection.But there are certain disadvantages like these wallets can be easily hacked because the private keys are stored on another server.Back in 2014 $460 million worth bitcoins were stolen by hackers from mtgox.

Paper wallets means printing private and public keys on a piece of paper.As your keys are printed on a paper these wallets are more secure than software and online wallets.There are some disadvantages as these paper wallets can be torn, damaged by water or in any way. So we should safeguard these copies in a locker or a place which is secured.

Hardware wallets are like cold storage devices that generate keys should be plugged into your device while making transactions.Hardware wallets are more secured because the keys are generated in the computer itself.These keys can be secured by creating a password. This is the most secured wallets of all the bitcoin wallets.

 Different bitcoin wallets for desktop, mobile, web and hardware.

Desktop
~Bitcoin knots
~Bitcoin core
~green address
~Arcbit
~Bitgo
~msigna
~Armory
~Bither
~Electrum

Mobile
~Mycelium
~Airbitz
~Arcbit
~Coinspace
~Greenaddress
~Simplebitcoin
~Bitcoin wallet
~Bither
~bread wallet
~Electrum
~Greenbits

Web
~Coinapult
~Green address
~Bitgo
~Coinspace

Hardware
~Trezor
~Digital bitbox
~Keepkey
~Ledger nanos

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