My journey toward my first Bitcoin continues. In the last post I wrote first steps toward my goal using faucets. This time I will focus on wallets where I store my hardly earned Bitcoins.

What is a Bitcoin wallet?

Bitcoin wallet is a place where you can store your Bitcoins. You need one if you want to have Bitcoins. In the market there is many wallets where you can store your Bitcoins and other crypto coins you have. There is several types of crypto wallets in the market. You can have a hardware wallet or mobile wallet choice is yours. Also many sites offer their own micro wallets to store your coins there. Most of the mobile wallets is cloud based wallets so your coins are stored in the cloud and are accessible all around the world.

Personally I have few crypto wallets to store my coins. I prefer cloud based wallets at this point. I don't have much coins yet so I don't have hardware wallet which is probably more secure one. I think I might have one later on when my crypto balance is higher but now I will focus on cloud based wallets. 

My main wallet is Coinbase which I like the most. It is easy to use and offers storing location for multiple coins. There is also trading option to trade and transfer your coins. I also have some other wallets like Freewallet, MEWconnect  and Metamask. Those are used with different softwares with different coins. I also have microwallet in CoinPot.

How to use your wallet?

So how to get coin in to your wallet? There is several option to get coins to your wallet. You can deposit FIAT currencies to your wallet and buy crypto coins with it. Or you might get payments for someone to your wallet. Your wallet have own address where you can receive coins. You need this address to receive coins from faucets and so on. 

In my mission toward my first Bitcoin I use crypto wallets mainly to receive coins from faucets. Then I transfer different coins to Bitcoins so it is easier to track my progress toward my goal.