What is a Bitcoin wallet?
Sending and receiving BTC requires a wallet. A Bitcoin wallet will provide you with the ability to access your funds and sign transactions with a combination of both your private and public keys. Choosing the right wallet will depend on a number of factors, including your cryptocurrency experience and expected investment amount.
How do I get a BTC Wallet?
Each BTC wallet type has its own pros and cons. You need to choose the one that suits you best. If you are a first-time user and looking to buy or store a relatively small amount of Bitcoin, then a mobile or web wallet will give you a good mix of safety and user-friendliness. A more experienced user may choose a hardware wallet. The Uphold BTC wallet is not only a convenient and safe way to store your Bitcoin but also allows you to seamlessly trade between cryptocurrencies, local currencies, and metals. The Uphold wallet is available on iOS, Android, and web.
Types of BTC wallets
Let’s look at other Bitcoin wallet types, including mobile, desktop and hardware.
Paper BTC Wallet
Paper wallets, while simple, can be a little fiddly to set up. They offer great security, as your BTC funds will be held in what is known as cold storage. However, paper wallets require both public and private keys to be printed on a sheet of paper and you'll need to store it in a safe or bank vault.
Hardware BTC wallet
These cold-storage wallets are dedicated USB devices designed to send and store cryptocurrencies offline, which makes malicious attacks almost impossible. It is important to remember that hardware wallets can be expensive for casual investors. However, they provide the best combination of security and usability, and are usually regarded as the top choice among long-term investors.
Web BTC Wallet
Most beginners may find web wallets a perfect choice, as they don’t require any software installation. While only an internet browser is needed, they require private keys to be stored on an online server, controlled by a third party. Potential exposure to hackers and third parties is the definition of a hot wallet.
Mobile BTC Wallet
Another good option for casual users are mobile applications, widely available in all operating systems. Managing a mobile wallet is certainly user friendly and while it may not be the safest choice, it provides a sensible option for users looking to buy and store small volumes of BTC.
Desktop BTC Wallet
Similar to mobile wallets, desktop wallets are programs that run on your desktop or laptop computer operating system. They provide decent security, suitable to store small to medium amounts of crypto. However, they are still hot wallets, as your computer is constantly connected to the internet, creating a permanent attack vector.
Uphold BTC Wallet
Using the Uphold Bitcoin wallet will provide you with a safe, convenient, alternative way to store your funds. Uphold takes security extremely seriously, incorporating rigorous industry standards to protect your funds at all times. There's also a 24/7 customer support team to help if you need it. We hold your keys so you don’t have to worry about storage Around 90% of our crypto is held in cold storage.
Your Uphold Bitcoin wallet can also be used to make payments to vendors, send money to friends, and instantly convert your BTC into local currencies and other cryptocurrencies. It’s a safe and secure way to use and transfer funds.