When you want to invest in Bitcoin (BTC), the first step is to have a digital wallet. A Bitcoin wallet is software, an app, or a website with the capability to keep your Bitcoin or any other crypto coins. The user keeps private keys or passwords to access the digital assets saved in the wallet.
In this case, we are looking at the Bitcoin wallets you should consider before crypto investment. Luckily, you can store Bitcoin and many other digital coins and crypto tokens on any of these popular wallets. We will also categorize them depending on the technology behind them such as hot or cold wallets.
Hot Bitcoin Wallets
Whether you are a rookie in crypto or have been investing for some time, it is advisable that you try hot Bitcoin wallets. Hot wallets, also called software wallets, are always connected to the internet, hence they are cloud-based. They can be accessed from any place and all you need to do is log into the platform. Some great examples include:
· Trust wallet – We are in the era of mobile apps and you can carry your Bitcoin or other cryptocurrencies on your phone through the Trust wallet app. According to the Loop website, Trust wallet is endorsed by Binance, which means that it is reliable. The wallet is dynamic and accepts other digital assets as well, so it is worth trying.
· Exodus – You will regularly hear about the ease of use of Exodus digital wallet, making it highly recommended for beginners. It is also an application that you can use to store BTC and many other crypto coins. Apart from storing Bitcoin, you can track transactions and even participate in some activities and earn rewards. Again, it is a wallet that you should consider.
Cold Bitcoin Wallet
Many people, especially seasoned investors, still prefer cold wallets that are also called hardware wallets. They are physical devices connected to a computer through a USB-C or USB-A cable to make transactions. Here are the best two:
· Trezor Model T- If you are looking for a cutting-edge hardware wallet with incredible features, then try this one. It comes in the form of a device with a small screen to show you some activities. It stores both passwords and private keys as well as other important information. All you need is to keep your device secure and away from malicious people. It is connected to a phone or computer through a USB-C cable.
· Ledger – Both the Ledger Nano S and Ledger Nano X are popular hardware BTC wallets that also store many other cryptos. They come in the form of a USB drive that easily connects to a computer to access your stored digital assets. Losing this or any other hardware wallet means losing your Bitcoin, and any other information saved there, so keep it safe.
Choosing the right Bitcoin wallet is important for any investor. It is the best you can do before investing in Bitcoin. Now that you know the best ones and examples, it is easy to make the right decisions. But you can still research more and consult with an expert for better decisions.