Which Bitcoin wallet should you choose?

In 2020, the whole world recognized the strong position of the cryptocurrency market. Today, BTC is in the top 15 most valuable assets in the world along with silver and gold, ahead of the Visa payment system, behind such giants as Amazon, Apple, and Google. Its capitalization in the world exceeds $580 billion.

And all these volumes of cryptocurrency need to be stored somewhere. Therefore, the topic of choosing the best wallet remains relevant to users.

There is no only one answer to the question “Which bitcoin wallet is better?”. This is individual, as Bitcoin and other coin holders may have different needs. For some, speed is more important, for others safety is.

But, to the excitement of users in 2021, there will be clients who have learned how to combine the functions most demanded wallets.

And BitMarket Network Client is one of them, which is available now to interested users and developers in the alpha version. It is a local cross-platform wallet with open user code, a user-friendly interface, and excellent transaction speed. Nowadays, it already supports two types of cryptocurrencies: Bitcoin and Litecoin. Soon, the client will become multicurrency and a two-factor authentication function will appear.

The project team now needs support and user feedback to help them release a really high-quality product.

If BitMarket Network Client can be named a newcomer to the market, then there are fairly well-known wallets that have already proven themselves to cryptocurrency holders.

All of them are conventionally divided into 3 types: Internet wallets, hardware, and local.

Internet wallets

Their advantages are that you are not connected to software or single equipment. Such wallets are convenient, offer quick access, but are considered the most insecure, as they store information on third-party resources. They are chosen by beginners and those who keep small amounts of currency.

Coinbase is a well-known online wallet capable of containing up to 20 currencies, the interface of which is ideal for people new to cryptocurrency. The functionality and transaction process is as simple as possible.

Cold or hardware wallets

It is a device that the holder of the cryptocurrency carries with him. It stores keys in encrypted form. This is the safest type of storage since the hardware bitcoin wallet is connected to the network only at the time of the transaction. Disadvantages: high cost from $ 50 for the simplest model and inconvenience of use.

Trezor is considered one of the best. It can connect to both your computer and your smartphone. Trezor has multi-factor authentication and supports over 1000 digital coins. But, if you lose it, or forget your password, then your cryptocurrency will disappear forever.

Local (Desktop / Mobile)

This is software installed on your device (smartphone, computer, tablet, or laptop). The safety of this type is average. Much depends on whether it is thick or thin. A thick one includes the independent management of the security of funds by downloading and storing the whole history. They cannot be installed on mobile devices. Thin ones store only a part of the information, trusting everything that is not related to confidentiality to third-party servers.

Electrum is one of the most popular thin wallets that the world got in 2011. It is decentralized and offers a good level of protection and a wide range of functions. Many people consider this wallet as perfectly balanced in terms of convenience and data security.

Most of the holders prefer local wallets, calling them the best ones. They are reasonably convenient, secure, and make 24/7 operations possible, if a device is available.

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