Unlike most traditional form of currencies used worldwide, bitcoin is the single payment system by means of cryptocurrencies. As bitcoins does not exist in physical form, it should be saved in wallets and these are called as bitcoin wallet. There are many companies that own bitcoin wallets for different devices like desktops, mobile phones, and other devices. There are different types of bitcoin wallets that help in performing digital transactions easier, safer and better.
Following are the different types of bitcoin wallets available
- Physical bitcoin: A physical bitcoin or BTC has its own value in the form of keys. The most important benefit of this is security as the key which is private always remains hidden. It is also advantageous when bitcoins are used in trading offline.
- Paper: The paper bitcoin wallets do not have any form of a digital key on it. It is easily vulnerable to any kind of digital attacks like malware and hack attacks. It can be used on cleaner operating systems that help to prevent suspicious attacks.
- Mobile and web: Web wallets are continuously controlled by someone over the web. It is great for sending and receiving bitcoins by means of internet. It can be used anywhere from any devices over the internet. The mobile bitcoin wallets are available in the form of applications that can be installed on your device. It is also accessible from any devices, from anywhere around the world.
- Hardware wallets: It is the most secure form of bitcoin wallets that saves the digital keys in a specially designed hardware device. It does not have any history of losing any money by means of malware attacks.
These are the different types of bitcoin wallets that can help in performing the transaction easily. The bitcoins will be the future of money and financial transactions. It will be widely used in almost all countries from a few years now. They are highly secure and it is not easy to steal them or hack using various software. It can be downloaded and can be easily accessed from any devices.