Which Bitcoin wallet is better?

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2016-05-27 00:00:00:


For many users of the global network, Bitcoin has become one of the main sources of income, a guarantor of comfort in transactions and a means of payment for payments in online stores. But the use of cryptocurrency cannot be called comfortable and safe in the absence of reliable storage (wallet). The difficulty is that the system offers many wallet options, each with individual pros and cons. So which Bitcoin wallet is better?

 

Desktop wallets

To understand which wallet is the best for Bitcoin, it is worth considering each of the existing options. Desktop storage takes the leading positions in popularity. Here everything rests on the installation of a special program (client) through which the user gets access to money.

Benefits of desktop wallets:

- Wide functionality.

- The ability to personally take care of the safety of your own funds.

- Ease of use.

This is the best Bitcoin wallet for responsible people who like to keep everything under control and do not trust third-party organizations.

Desktop storage comes in two flavors - thick and thin. Which is the best Bitcoin wallet to choose from these types? To answer the question, it is worth evaluating the nuances of each of the options:

- Thick (heavy) wallets have an increased level of reliability. Before starting work, the storage downloads the full amount of information on cryptocurrency blocks, which guarantees the ability to control the originality and consistency of transactions. The access keys are in the use of the owner, so you should immediately make a copy (for reliability). At the first start, you should take care of the speed of the connection to the network (the higher this parameter, the faster the blocks are downloaded). The most popular thick wallet clients include Bitcoin-Qt and Armory.

The Bitcoin-Qt client is a program founded by Nakamoto himself. Experts recommend starting work with cryptocurrency from this storage. The advantages are stability, ease of use, high level of security and confidentiality. The information is stored in a special file wallet.dat. For reliability, it is allowed to set a password that protects personal data. The program works with all popular operating systems, which guarantees additional convenience for the user. The problem is that Bitcoin-Qt draws a lot of resources, so in the absence of a powerful machine, it is worth considering other options.

Armory client is a type of wallet that is able to run on top of the previously installed official storage (described above). Its features are advanced functionality, the ability to work offline, management of several wallets at once, ease of use. This is the best Bitcoin wallet for cryptocurrency owners who are ready to keep everything under control. But one cannot fail to note a number of disadvantages - high requirements for RAM, lack of a Russian version, work only under two operating systems. The time to launch the program is 10-15 minutes, which not all competitors can boast of.

- Thin (light) storage. When choosing which Bitcoin wallet is better, users should consider the amount of hard disk space and their personal willingness to give it to specific needs. If there is little space on the PC and there is no desire to keep blocks of the crypto network, then the method of managing your own Bitcoin assets using a thin wallet is more suitable. In addition, the easy option opens up ways to work with money through a mobile phone or tablet.

The advantages of lightweight wallets are obvious - ease of management, high connection speed, the ability to conduct transactions, payments or other operations with Bitcoin via a phone (tablet). Which wallet is better for Bitcoins, if you choose from these options. Here the choice is really wide.

MultiBit client is a popular and simple application for working with Bitcoin cryptocurrency. No specialized knowledge is required for use. The program is easy to install, quickly works under major operating systems, and has a Russian-language interface. The wallet balance can be displayed using a chart, which is often convenient.

The Electrum client is another repository that is robust and uses minimal resources. It works quickly with the network and gives access to money both on the server and outside the client. To avoid creating backups, you can generate a seed code. Another plus of the program is the ability to use it on smartphones with the Android operating system. Which one is better to choose a Bitcoin wallet from the above, everyone decides for himself.

 

Mobile wallets

Today, more and more storage facilities appear that allow you to work with money through mobile applications. The wallets described above are good in functionality and usability. But what if you need to pay for a purchase in a real store? In such a situation, a mobile Bitcoin wallet may come in handy, for which a special application and a phone are enough. Thanks to the capabilities of such storages, it is possible to make purchases by making payments using the phone.

Benefits of mobile storage:

- Ease of use on mobile devices.

- Ability to pay for goods in the store without the need to be tied to a computer.

- High speed of the payment. Often a few taps are enough to transfer money.

- Download only part of the blocks. The authenticity of the operation is checked in other nodes of the crypto network.

This storage option is ideal for people who always need access to their wallet, as well as those who travel a lot and often.

Popular representatives of mobile storage are Xapo, Micelium, Blockchain and others. With the transition of people to mobile devices, more and more wallet creators are thinking about releasing special applications or have already made them. It remains for users to decide which Bitcoin wallet is better.

 

Online wallets

If you want to save space on your computers hard drive and remove responsibility for the safety of funds, you can use online Bitcoin storage. They have the following advantages:

- There is no need to download blocks with information that occupies the "lions" share of the hard disk on a personal computer.

- Convenience of wallet management. Now you do not need to be tied to a specific PC, because any device with an Internet connection is suitable for accessing money.

- Numerous services open up new opportunities for customers. So, you can turn on the notification option, make transfers to other network users, and so on.

But when deciding which wallet is better to start for Bitcoins, it is worth considering the disadvantages of such storages:

- Low level of security. Unlike other options, a third party service is responsible for security, not the user. In the event of a server hacking, it will no longer be possible to protect valuable information. In this case, the money in the account may be lost.

- Not all online wallets provide a level of functionality sufficient for comfort.

Summing up the interim results, this is the best Bitcoin wallet for people who are just getting to know the cryptocurrency and are not yet able to protect their personal funds on their own. In this case, the option with online storage is most preferable. In addition, such resources are suitable for the option of short-term storage of funds.

Notable representatives:

- My Wallet is a client that allows you to send currency to the accounts of some social networks (for example, ). For ease of use, games and a book with addresses are developed here.

- StrongCoin - an application that is easy to configure, the ability to import keys, the presence of a book with user addresses, which speeds up the transaction process.

- EasyWallet - a wallet that allows you to create special Bitcoin coupons with the ability to send to the mailbox. The application is easy to configure, install quickly, and has a wide range of functionality.

- InstaWallet is a program capable of performing the functions assigned to it without registration. After each visit to the resource, the client receives a generated URL that matches the wallet address.

- Coinbase is the simplest program with a clear and simple interface, high installation speed, the ability to use the QR code of the wallet.

- WalletBit is a classic online client that has the main positive features and allows you to issue a VISA card for exchanging or buying coins.

 

Storage gadgets

Recently, the so-called gadget wallets are gaining popularity. So far there are not so many of them, but experts agree that the future belongs to them. These devices are specialized products that facilitate online transactions and contain private keys.

The main disadvantage that scares off most of the users is the high cost of the devices. You will have to pay for the gadget from 40 to 160 dollars, which is not affordable for everyone. Such a device is more suitable for people who store a large amount of cryptocurrency and want to have access to it at any time of the day or night.

Which is the best Bitcoin wallet to choose? There is no definite answer here. Each user makes a personal choice, taking into account a number of factors:

- Skills of working with a computer and cryptocurrency.

- Personal computer parameters.

- Lifestyle and frequency of travel abroad.

- The total amount of cryptocurrency in the wallet.