Home Tools of the Trade Bitcoin Wallet | A Beginner’s Overview to Bitcoin Wallets

Bitcoin Wallet | A Beginner’s Overview to Bitcoin Wallets

The Bitcoin Wallet. What is it and Why do I need one? This breif tutorial will hopefull teach you everything you need to setting up your own wallet.

If you have any interest in shopping on the Darknet, or purchase some bitcoins in general, than getting yourself a Bitcoin Wallet is an absolute must. Just as it sounds, it’s a place to store your bitcoins. All transactions happen in your Wallet, its what you will use to send bitcoins to someone and receive bitcoins. Bitcoin Wallets come in a variety of flavors, some which are hosted by a third party company like Coinbase, and some are kept directly on your desktop/USB/phone.

So there you have it, a bitcoin wallet is the digital version of a fiat wallet. You use it to store you Bitcoins. The only main difference is you can’t own bitcoin without it. There are tons of different wallets available, some are very light weight and simplistic, others are feature rich full of extra options and customizations. It’s best that you thoroughly research a few of the wallets to see which one best suits your needs.

Best Bitcoin Wallets

Personally I prefer Electrum, it’s free, light weight, and is kept right on your desktop computer. It seems to be a garily popular wallet as well and it comes with a app version for iPhone and Android devices. Though, on my Android phone I use a the bitcoin wallet app that is simply called “Bitcoin” and is made by “the Bitcoin Wallet Developers. I highly recomend both of those wallets, especially to anyone just starting to get their feet wet in the Bitcoin game.

Where Can I Get My Wallet?

You can get the Electrum Bitcoin Wallet here.  As I already mentioned it’s my favorite for a desktop wallet.

Click Here to Download the Electrum Wallet

There are several different wallets, one of the most popular wallets on the market is Coinbase.  Coinbase is a company that not only provides a free onsite wallet, but you can also buy bitcoins directly from them.  However, if you plan on shopping in the Dark Web I suggest not going with them.  Coinbase has a reputation for locking their paying customers out of their accounts for darkweb purchases, and in some cases freezing the users assets, which would be your bitcoins.  While they charge an extremely low commission on bitcoin transactions, it usually takes several days after placing an order that you will actually receive your bitcoins.

What About _____ Bitcoin Wallet?

Eventually I would love to test out each bitcoin wallet and provide my insight on them, along with a review video.  So if you have a bitcoin wallet you would like me to look into and review please mention it in the comments below and I will take a look.