If you don’t understand Bitcoin Wallets,
you’re at risk of losing your money…
What’s a Bitcoin Wallet?
A wallet is essentially a bank account
allowing you to, send receive, and hold
digital money. But because cryptocurr-
encies don’t exist in physical form…it’s really your P-
rivate Key that a wallet protects since it’s this that g-
ives you access to your coins and allows you to con-
There are three general groups: software, hard-
ware, and paper wallets. Also, depending on how they
function, they can be further divided into hot wallets
and cold wallets. Let’s now dig deeper into the differ-
Types of Wallets
Hot Wallets are any wallet requiring internet conne-
ction to function; they’re programs and apps you can
download on your computer or mobile phone. They
protect your coins via encryption. You may have also
heard them referred to as software wallets.
There are different categories of Hot Wallets. They c-
an be split up into: Desktop, mobile, and online wall-
ets. We’ll dive a bit deeper into each of these for you,
and layout some popular examples you can buy…
Desktop Wallets are downloaded and installed onto
your computer. They were the first type of wallets.
their strong features include autonomy, and a level
of control they give you. But, the downside is a we-
ak security due to requiring internet connection.
Here’s a list of some popular desktop wallets…
Mobile Wallets are the most frequently used since you
can download them as an app on your mobile device.
With it, you can make purchases in physical stores via
a touch-to-pay and near field communication scanning
of a QR code.
Popular Mobile Wallets Include…
iOS and iPhone Wallets:
- Samourai Wallet
- Blockstream Green
- Bitcoin Wallet
- Blockchain Wallet
- Atomic Wallet
Online Wallets provide you a quick way to access your
wallet via any device (as long as it’s connected to the
internet); and it stores your private keys in the cloud.
Because of this, we recommend you not store too
many coins on this type -even for long term storage
if you decide to choose this option. These companies
could steal your currency, or their servers may be
Coinbase is an exchange that functions as a web wallet.
Cold Wallets: These type of wallets don’t require an
internet connection money offline (also known as cold
storage). This makes them more secure in comparison
to hot wallets. They’re small and are therefore easy
Paper Wallets are one of three ways you can store yo-
ur money offline and outside of an exchange -which p-
rovides you with extra security. They can be mae usi-
ng a website generator that creates random keys an-
d QR codes. Once created, you can then print them
onto a sheet of paper using a printer with zero acce-
ss to the internet. This prevents the printer from
Hardware Wallets have an excelent track record. Y-
ou simply operate it as you would a USB, storing co-
ins onto it and plugging it into your computer. The-
re’s different types available and each are small a-
nd easy to store.
Have a peek at these top-ranking wallets…
Are Bitcoin Wallets Safe?
It depends on how you use them and your experience…
For example, cold wallets provide you the most secur-
ity. However, a paper wallet can be programed to have
a higher level of security than a hardware wallet.
But, since most users won’t have the nessecary tech
experience to do so, it’s best to stick with hardware
wallets. Besides, they’re most user-friendly while st-
ill offering you better security than hot wallets.
This is because hot wallets can put you at risk. Des-
pite Having additional features and being faster, th-
eir need for an internet connection leaves your coins
vulnerable to hackers and malware.
Because of this, we recommend you store a small a-
mount of digital currency on hot wallets for making qui-
It’s for these reasons stated in the two paragraphs
above that many users take advantage of both wallet
For example, if you plan on spending a few
hundred dollars soon, then it’s reasonable to put
it into your hot wallet. But as for any large sum
of cryptocurrency…it’s recommended you split it
into multiple hardware wallets.
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