Tuesday, October 31, 2017

whats the best wallet to keep bitcoin


This is the main topic in the crypto world , if a invester but eth, btc, bch or any alt coin where should i keep this, whats the safest wallets

There are three main categories in wallets


  • 1. Online wallets
  • 2.Desktop wallets
  • 3.Cold wallets



Apparently cold wallet is the safest way to secure bitcoins and other alt coins. but the ledger nano is very expensive. but if you have more btc then definitely you need the ledger nano. you can synchronize it and store in the ledger nano. In case if you lost , from the back up you can restore.

Online wallets

This one is most popular but i do not recommended it. Your valuable investments (bitcoin,etherium,Alt coins) can be lost due hack by hackers. If your private key lost or steal you unable to recover. if some one get to know the private key he has access to the account. But if you trade daily or monthly basis definitely you have use it otherwise you cant deal very quickly. when using myetherwallet you have to keep your private key in a safe place.
i will describe you about myetherwallet in next chapters.

Compare to other wallets this myetherwallet is safe. because you have the private key. 

in the online wallets , (ex - coinbase)  they have the private key so if a hacker or unathorized people can get private key and enter the wallet. but this not happen if the wallets are fully security. but now bittrex and poloniex use latest technology to secure the wallet. 

Desktop wallet


its a desktop software , it also like cold wallet no one can acess , but if you need to do day trading its impossible to do.if your computer got black or hardware got corrupted then the data will be lost. but can recover

If you have large amount of bitcoin you keep ledger NANO


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