""MUST SEE DIFFERENCE BETWEEN ALL TYPE OF BITCOIN WALLETS(FULLY EXPLAINED)""
bitcoin·@thecrytotrader·
0.000 HBD""MUST SEE DIFFERENCE BETWEEN ALL TYPE OF BITCOIN WALLETS(FULLY EXPLAINED)""
"Different types of Bitcoin wallet"
Friends it can be difficult to learn how to use and store Bitcoins, but if you learn how to secure store Bitcoin rest is much easier,
Follow the post to learn about different kind of Bitcoin wallets,
Friends we have a lot of wallets for storing our hardly earned or invested Bitcoins. As per the list below:-
1. Desktop wallet
2. Online wallet
3. Mobile wallet
4. Paper wallet
5. Hardware wallet
So friends let's start the full description of these wallets,
1. Desktop wallet:-Desktop wallet is a program that you can download in your computer. It will generate new Bitcoin addresses for you to use and allow you to encrypt your private keys and store them in a wallet.dat file that is password protected. You can backup this file and store it in your hard drive or USB pen drives, whenever you want to spend your Bitcoin you just simply have open the program and select the wallet.dat file, and then provide your password to unlock your Bitcoin,
Desktop wallet example is:-electrum.org
2.Online wallet:-and online wallet is simply a website or an app that manage your private keys for you, the wallet provided generate a public key for you to send Bitcoin to, then they hold your private keys for you. If you want to use your coin you have to submit a withdrawal request, normally by logging in your account and providing your password.
There are some examples of online wallets:-coinbase.com,blockchain.info
3.Mobile wallet:-the idea of mobile wallet is quite same as desktop wallet but for a smartphone. Some mobile and desktop wallet will give you 12 word seed phrase instant of a wallet.dat file, so that you can easily access your Bitcoin. These wallets are mostly used bye peoples now days and there is a high risk of hacking on this kind of wallets.
There are some examples of mobile wallets:-blockchain wallet,coinbase wallet
4.Paper wallet:-paper wallet is Bitcoins are stored in a good ole fashioned paper, you write down your public key and private key on paper, check it over and over again to ensure that it is correct(the small and capital letters are also matter), the idea behind paper wallets is simply that if private key is never connected to the Internet there is a very less chance of hacking.
5. Hardware wallet:-this is a small device that will use to keep your private key safe. Hardware wallets are simply for those people who want to physically hold their Bitcoins or cryptocurrencies. Keep your hardware wallet whenever you want and simply connect to the computer when you want to spend your Bitcoin. This hardware wallets have a small screen on them to confirm your transaction details, then it's simply send the Bitcoin to your desire address without your private keys ever being on the computer, hardware wallets are starting from around $60, which is cheap as compared to the allow you to store your cryptocurrency in your own Bank.
Hardware wallet examples are:-Ledger,Trezor
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