The Best Bitcoin Wallet Types you Must Know about if you are from Canada

/The Best Bitcoin Wallet Types you Must Know about if you are from Canada

The Best Bitcoin Wallet Types you Must Know about if you are from Canada

Are you interested in bitcoin? Then getting the right wallet in which to store your bitcoins is one of the most important aspects of the whole thing. Since bitcoin is independent of any country or stock exchange and it is entirely digital, getting bitcoins of your own actually means that you have to become a part of the bitcoin network, and the way you do that is through setting up an account and a wallet. In this article we are sticking to the bitcoin wallet options for Canada and luckily for you there are a few options that you can look into before you make the final decision. If you want to know what they are, then keep on reading.

A software wallet

As the name suggests, the software wallet is one that will require you to download a piece of software on your computer. The good thing, and probably the best thing about this wallet is that it protects you against hackers since you will be storing the bitcoins locally on your computer. However, probably the biggest con is that if your computer crashes, you will lose your bitcoins. Something that is also recommended with this type of wallet is that you regularly back it up as an extra layer of security.

The online wallet

This is a bitcoin wallet that is very convenient because since it is online, you can access it from anywhere. However, something that you need to careful with is the fact that online wallets, as most things online, are susceptible to hackers and in some cases it has even been reported that the organizations that offer the online wallets have stolen bitcoins as well. So, if you decide to take the online wallet route, then you need to make sure that you have done all the right research and that you have done everything in your power to choose the best private organization possible so as to ensure the most security for your bitcoins.

The offline wallet

The offline wallet is also known as the mobile wallet and that is because your wallet will be located on your smartphone and with it you can pay with bitcoins on the go. In some cases, and more and more as time goes by, you can simply just tap your phone near a register as payment which can be very convenient. However, these wallets are known to take up a lot of space on your mobile device and they also limit you on the amount of bitcoins you can store on them, which means you can only store so much at one time and that may be something that you find restricting.

As we mentioned before, the bitcoin wallet is essential in order for you to able to safely store the bitcoins you have acquired because storing them on exchanges is good for a while, but definitely not recommendable for longer periods of time. Make sure to go through these options again carefully and decide which one is the best for you, and always remember that no matter which wallet you go for, you should never store large amount of bitcoins in the same place at once, even in Canada.

By | 2017-12-20T06:18:40+00:00 December 18th, 2017|Last news|0 Comments

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