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Bitcoin has been evolving over the past few years since it was launched into the world. Bitcoin has now become part of daily life for so many people. Investors are now using cryptocurrency for investment through various transactions. They have also gone ahead and adapted to the Bitcoin wallet for their everyday transactions.
Bitcoin wallet or digital wallet is a type of wallet where Bitcoin’s secure private keys are stored.
It is a type of software program that stores essential information for its users digitally. It's only the owner who can control and access the digital wallet. Digital wallets are very secure and safe to use no need to worry about your security. They are also easy to operate with no technicalities whatsoever.
Advantages of Using Digital Wallets
You may wonder why you may need to have a Bitcoin wallet to store your holdings. But having this type of wallet is very important as it enables you to control your Bitcoins. No other third parties can get involved or try to hack your system. Crypto wallet also gives you transparency due to its open-source and built-in exchanges.
Its significant advantage is that it provides its users with privacy and a secure platform to store their Bitcoin, providing protection from hackers as well as against malware.
Top 5 Bitcoin Wallets to Consider in 2021
Bitcoins can be categorized in various forms. First, digital wallets can be divided into two: hardware wallets and software wallets. They can also be divided; further, those wallets meant for new users or beginners, those for mobile use only, those meant for advanced Bitcoin users, and so on. Below are some of the examples of crypto wallets to look out for in 2021.
If you are new to Bitcoin, then choosing Exodus as your digital wallet may be helpful to you. This type of wallet is modified and well featured for new users on Bitcoin. It is characterized by simplicity, making it easy to use. It is a hot wallet that is further characterized by a built-in exchange and an interface that lacks complexity. It can swap between over 100 different cryptocurrencies.
Those who have been using Bitcoin for more extended periods might find Exodus less suitable as it lacks some features that are advanced to them. For our new users no need to worry as we also got you covered with this great digital wallet as you decide to invest in Bitcoins.
The world is evolving, and so is technology. The majority of people today opt to use their mobile phones more than using their desktops. So, this particular wallet is one of the earliest and was meant for mobile use only, making it mobile-friendly to Bitcoin users. The mycelium wallet is designed to be used on mobile phones only. It gives the users the chance to move Bitcoins around to trade. It is among the simplest types of Bitcoin wallets to use due to its interface. It also has a hardware support system.
So, if you are always glued to your mobile phone, this is the most convenient wallet for you.
This is one of the oldest digital wallets since the launching of Bitcoins. It is mainly meant for those advanced Bitcoin users who are well advanced with any technicalities and complexity that they may come across while using crypto-wallets.
Open-source features characterize it. It also has a user interface. Electrum allows Bitcoin users to set transaction fees and choose the levels of security that they would opt to have for their digital wallets, making them suitable to other wallets. Unfortunately, it lacks customer support.
If you are worried about the security and validity of digital wallets, here is a trustable wallet that you could consider using due to its originality.
4. The Ledger Nano S
It is the first generation and an original type of Bitcoin wallet. It does not require a USB Type-C cable, unlike the second generation of the Ledger Nano X. It has a limit on the number of active crypto wallets, 18 wallets. Its storage is much secure and does not allow Bluetooth usage. It is also open-source.
5. The Ledger Nano X
As stated earlier, this is the second generation of crypto wallets. It is a hardware wallet and has the appearance of a USB drive. This type of wallet allows Bluetooth connection; unlike the Ledger Nano S., it can support cryptocurrencies over 1,500. It has a user interface and has a USB Type-C cable.
There are many digital wallets, but these are the topmost suitable crypto wallets you could consider choosing from as a Bitcoin user. They are secure, easy, and reliable to use. You have no reason whatsoever not to try out these great Bitcoin wallets as there are plenty to choose from based on your preference.