3 ways to set up a Bitcoin wallet

3 ways to set up a Bitcoin wallet

By tornadooo | ToRNaDo | 21 May 2020


There are many Bitcoin wallets and they all differ in their features. Mobile software wallets are perfect for everyday use, and desktop software wallets provide a great balance between convenience and security.

1. Install a software bitcoin wallet

The easiest way to get a Bitcoin wallet is to download and install a free wallet software application or client. A software wallet is a program that stores private and public keys and interacts with the blockchain so that users can send and receive digital currency and check their balances. There are two types of software wallets - mobile and desktop.

 

Mobile software wallets were lightweight bitcoin clients that allowed you to always have bitcoin with you

Desktop software wallets have more features and are generally considered safer than mobile wallets, but are also more difficult to use

2. Install a web wallet

Another easy way to open a bitcoin wallet is to use a web service. Web wallets store your private keys online on a server managed by a group of administrators. However, keep in mind that the website is responsible for your private keys and can take your bitcoin out of control at any time.

3. Install the Bitcoin Hardware Wallet

Hardware wallets are physical devices that store private keys electronically and simplify operations. These wallets can be carried with you and cannot withstand the storage of funds in the hands of third parties. However, you need to buy them. They start at $ 50.

Installing them means following the manufacturer's instructions, because again, each wallet is different. Never buy a hardware wallet from another manufacturer.



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