If you decided to use Bitcoins for your transactions, then you will have to choose a wallet. You already know that Bitcoin is an electronic currency, therefore, no central authority can control it, and developers have the possibility to create wallets. But what you should know is that the wallet will not store the coins themselves. The blockchain is the one that will store them. You will be able to access your bitcoin through the wallet, but you will also have to use your public and private key. The public key can be published anywhere, and it is used to receive the coins. The private key is similar to a password and it is used to send the bitcoins, so you will have to guard it to protect your wallet’s security. So the main issue when using electronic currency is not where to buy bitcoins, but how to choose the wallet.
When you have to choose the wallet, there are some aspects you have to consider. The main one would be the computer platform you intend to use in order to access the Bitcoins. Some wallets work only on PCs that run Windows, while others on PCs that run OSX, so you have to check what the wallet requirements are. Also, some wallets can be used on mobile devices, but the situation is similar to the PCs, because you have to make sure that the operating system is compatible with the software of the wallet. Specialists state that the most popular platforms are the cloud or web based ones, because they are easy to set up. You can access this type of platform from any type of device and with the help of any internet browser. So before you buy bitcoin with PayPal, you should make sure that your wallet would be functional on the device you are using. If you are looking for a wallet that offers a wide variety of features, then you should consider choosing a web based one. These ones are considered to offer a better security, so you can be sure that your bitcoins are safe.
When you have to select the web-based wallet, specialists recommend opting for the one with the best reviews, and which is considered to have a good reputation on the market. Also, it is important to check if it offers good security features and two factor authentication. Some bitcoin users state that the most secure online option is the one designed for mobiles, because the phone processors segregate the encrypted data and it makes the mobile wallet impossible to hack. If you are not decided, what wallet to select, then you should know that there are online platforms that compare the features different wallets offer and they provide complete descriptions of the features they have. In case you want to opt for a mobile wallet, then you should choose one available in the Google Play store or in the Apple App Store, because they have listed a great number of safe apps.
Copyright 2017 Economic News Articles