Bitcoin is the next level in the evolution of finance. It’s a form of digital currency that is becoming increasingly popular as a payment method. What makes it a preferred method of payment is that it allows direct payments between two individuals without a middleman such as a bank, credit card company or PayPal.
Bitcoin payments are also an attractive alternative for international transfers. Without an intermediary, the costs involved in sending money are reduced and payments can be instant. While verification may be required in some instances, your credit card details are not shared.
To be able to buy bitcoin, you need a virtual wallet. Signing up for the best wallet for your Bitcoins is as easy as signing up for a new email account.
There are various types of Bitcoin wallets available, including
- Brain wallets
- Paper wallets
- Hardware wallets
- Mobile wallets
- Desktop wallets
- Web wallets
The various types of wallets must conform to the established Bitcoin protocol and are used to store money. Cryptocurrency wallets are needed now more than ever, as more forms of cryptocurrency are available on the market.
Which is the best wallet for your Bitcoins in 2017?
This is a hardware wallet that allows for biometric authentication. Using this wallet for your Bitcoins means that it requires 2 of 3 signatures in order to broadcast the transaction to the blockchain.
Coinbase is supported in more than 30 countries. It is an industry leader and has handled more than $6 billion in cryptocurrency exchanges.
This is a multi-signature Bitcoin in wallet available on the web, desktop, Android and iOS. The site requires a manual confirmation from you for your coins to be moved.
This is the most popular Bitcoin wallet on Android and is very easy to use for sending and receiving payments.