One of the essential pieces of software when dealing with Bitcoin is the wallet app. Satoshi Nakamato has released a basic application for the Bitcoin wallet along with the initial Bitcoin protocol. However, the application presented only the most basic options.
Ever since the Bitcoin protocol was released open source, people have quickly calmed down with their own enhanced version of the wallet, providing additional features. Hundreds of wallet applications have appeared since 2009 to make people’s lives easier. However, not all are made equal.
For Bitcoin users who want to protect their stock, it is important to choose a good wallet. Different wallets have different features, and choosing the right one that suits the needs of the user is crucial. For example, a Bitcoin gambler should be something different from a serious investor. Here’s a quick comparison with the top five wallets on the market to help Bitcoin users choose.
Coinbase i Blockchain.info
Circle is an interesting wallet that has recently managed to make the news. Apple has announced plans to integrate Circle into its messaging app for the new version of iOS. This agrees with the stated goals of the wallet: spreading Bitcoin to the masses.
Headquartered outside of America, Circle now operates in the United States, the United Kingdom and China. It has made significant strides in making it more affordable with innovations such as NFC contact payments and credit card and bank transfers. Wallet security remains a priority despite this accessibility, along with anonymity. The volume of transactions through Circle is projected to exceed $ 1 billion by the end of the year.
Launched in 2012 in San Francisco, Coinbase has managed to garner incredible popularity despite its shortcomings. The main driver of this is the fact that it is very convenient. With mobile apps and operations in 29 European countries, Canada, the US and Singapore, people can perform fast transactions anywhere.
In addition, it allows the purchase of a bitcoin debit card. Two-factor authentication and a cold store ensure account security. The problem is that the wallet requires personal information and has high transaction fees compared to other wallets.
Blockchain.info is better known as a site for getting the latest Bitcoin statistics, whether it’s prices or trading volume. However, global wallet coverage is what attracts people to it. As a storage for bitcoin, the app is excellent. However, it lacks one important feature.
Many wallets today allow people to buy bitcoin and add them directly to wallets. Blockchain.info requires users to buy elsewhere and send bitcoin to their wallet, which can result in clumsiness. It is easy to use and easy to set up, which makes it great for beginners.
Circle, mycelium and Xapo
Another wallet with worldwide access, Xapo is a wallet based in Switzerland that also offers coolers and debit cards for cryptocurrencies. The wallet aims for maximum security, with fast transactions and low fees that are added as benefits.
However, although transactions are fast, there is no current balance update. Slow SMS checking and poor technical support are other black marks against it. The wallet has a mobile app and people can access their wallets with their own personal card. However, since last year, Xapo has distinguished itself in the world of online games by partnering with CEVO and Leet with its significant performance .
The company behind Mycelium has been around since 2008 and was there on the ground floor of the Bitcoin explosion. He managed to find his place, but the company suddenly embarked on aggressive innovation earlier this year.
It started with a new mobile wallet app with updated products and features to make it easier to manage bitcoins, such as generating paper keys and making it easier to buy Bitcoin. Security is the focus of wallets with backups of accounts so they can be returned after the theft. A password based on 12 words of seed is required for the user to perform the restoration.
With these options available, people should have a wallet that should suit their needs. You should keep in mind that some wallets are better used for daily transactions, while others are for long-term storage of funds. Web wallets that offer convenience for small Bitcoin transactions are perfect in Bitcoin gambling . But finding the right one for each type of user or player depends on which wallet factors are given higher priority.