At the moment, crypto currencies is very popular on internet, so there are a lot of ways earn from it as trade, invest, exchange,... However, to can make those, you need a wallet to store as Blockchian, Coinbase, TrustWallet,... and today, in this artical, I will focus on Blockchain and Coinbase and share some my experiences about how to choose which wallet to use. This is only myself experience so it can there is no concensus completely.
Blockchain.Info
Blockchain.Info is also a private company, but based in York, United Kingdom. The company provides full Bitcoin market and block chain exploring information and wallet services. It is recognized as one of the first information and wallet services in the Bitcoin network and very well respected in the community.
They generate this pair of keys when you open your wallet, but they keep the “custody” of the keys. The advantage they provide though is that you can download, export, or print your keys if you wish to back them up in an external place outside of their servers. This provides an additional level of security because if the company disappears you still have access to your Bitcoins by having your public and private keys. You just need to download or go to another wallet service and import your existing keys there to access your money again.
If you use the Blockchain Wallet you can get paid when you sell products and services by providing your Bitcoin address. This is a 30 character code that anyone can use to transfer the digital currency to your account. In the case of Coinbase they have taken this further by providing “Buy”, “Subscribe”, and “Donate” buttons that are linked to your account. These buttons can be installed in your website so your clients can pay just like they would by clicking your PayPal or other payment buttons.
This is the reason Blockchain.Info gave itself this name. They provide a full view of all the transactions and analytic data of what is happening in the Bitcoin network.
Coinbase
Coinbase is a private company based in San Francisco, California, that provides web and mobile Bitcoin services. Their mission is to provide Bitcoin value added products for consumers and merchants. Coinbase is recognized as “the PayPal” of the Bitcoin Network.
Because they provide additional services for users and merchants, on Coinbase your wallet is as secure as the company and its technology are. Because users interact with Coinbase and thus indirectly with the network, they need to entrust their security keys to the company just like they would their money with PayPal or with a bank. Because Coinbase is compliant with federal and state regulations and counts with the support of important investors it is considered to be a safe Bitcoin service provider.
If you need to buy and sell bitcoins as an investment or for payment purposes you can use Bitcoin exchanges. For this you need to transfer back and forth bitcoins to and from your exchange accounts. In the case of Coinbase it has this service integrated into its wallet and merchant products. On Coinbase you can easily buy and sell bitcoins directly from your account without having to move them elsewhere. Blockchain doesn’t offer this service, but they do provide links to their partner exchanges.
Security formats
Since storing and holding Bitcoins in the network is done through 2 security keys, one public and one private for each wallet, then the question of who holds the keys becomes the main safety issue.
Conclusion
For a simple and full service experience Coinbase offers the best alternative. If you want to easily open a Bitcoin account, use it on the web and on your mobile device, and maybe even sell your products and get paid in Bitcoins then the Coinbase is the best way to start.
For more advanced users who wish more control and flexibility then Blockchain.Info is the best option. Although it doesn’t offer merchant or trading services, its open model permits the Blockchainto easily interact with third party providers like Bitcoin exchanges and other services.
