Bitcoin (btc)
Generally speaking, users do not store bitcoins, they keep digital keys that allow them to sign transactions. As in case of traditional money, digital keys are usually kept in digital wallets. There are several types of digital wallets. They include desktop, mobile, online, and hardware wallets:
Software wallet
is the easiest and safest way to store cryptocurrencies. Owners of crypto assets install a desktop wallet on a personal computer and control the storage of digital money themselves. This method is best suitable for advanced miners who possess relatively large amounts of bitcoins.
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Mobile wallet
Is a specific application designed for smartphones. Software wallets are less easy to use as people do not have access to the wallet outside the house when they need to purchase something. As for mobile wallets, you will be able to make a bitcoin payment directly from your smartphone.
Online wallet
Is the easiest way to store bitcoins. Everything you need is to find a provider that offers such services. The main advantage of online wallets is that they do not require special software. Among the disadvantages are service failures tha hack or increase risks of password attack which may lead to digital currency theft.
Hardware wall
Is a device designed to store digital keys in electronic format. The major benefit of a hardware wallet is that it does not require Internet acces
Paper wall
A paper wallet allows users to store cryptocurrencies, or rather, digital keys, offline. Everything you need is to print a key on paper and place it somewhere safe. This is a secure way to keep bitcoins, as only the owner has full control over the wallet.
