Bitcoin wallet service provider, how to secure?

Bitcoin wallet service provider, how to secure?

Bitcoin Blockchain Cryptocurrency
March 18, 2020 by Martin Sukhor
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You need a Bitcoin wallet service provider to store your Bitcoin. Bitcoin is still a topic of conversation in the world of digital investment at this time. Although its value has lately tended to decline due to changes in the global economy and also the extraordinary occurrence of coronaviruses. But there are still many cryptocurrency
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You need a Bitcoin wallet service provider to store your Bitcoin.

Bitcoin is still a topic of conversation in the world of digital investment at this time.

Although its value has lately tended to decline due to changes in the global economy and also the extraordinary occurrence of coronaviruses.

But there are still many cryptocurrency lovers who believe that Bitcoin is still likely to increase in value again.

Some crypto observers predict an increase in the value of Bitcoin after Halving in May 2020 will reduce miner’s reward.

With the BTC value currently an opportunity to save in the hope that the value will actually increase.

Bitcoin Wallet is one of the important parts that a person must have in his or her activities of investing and trading Bitcoin.

We can use the Wallet to send, receive, and store Bitcoin values.

Right now there are a variety of Wallet Bitcoin providers that you can choose from, but which is the best Bitcoin Wallet option?

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Type Bitcoin wallet service provider

Like a flat money wallet, there are also several types of Bitcoin wallets with different security and convenience, each with advantages and disadvantages.

Some of the most popular Wallet types are

Offline (Hardware Wallet):

Wallet shaped hardware (hardware), can store details such as Address Wallet and Private Key. The model is generally shaped Flashdisk or Memory. Examples: Nano S, Trezor, etc.

Online (Web Wallet):

A wallet that users can access through the internet. Example: blockchain.info, Coinbase, etc.

Wallet Software (Desktop Wallet):

A wallet is a downloadable app and can be installed on various devices like PC, Laptop, Smartphone, or Tablet.

What to Look for Choosing a Bitcoin wallet service provider?

Because we store BTC coins that have a price, of course, we must be very careful in choosing a provider of Wallet.

This will minimize the risk and will keep the funds we keep always safe.

Therefore, there are some things to watch out for before choosing a Bitcoin Wallet provider.

Security

The first and most important point is the security factor.

The most vulnerable in terms of security is the type of Bitcoin Wallet Online Wallet.

The reason is that the Private Key data is stored on the service provider server.

For that reason, in choosing a security aspect, just select a Wallet provider that implements a 2-way security system, either by sending a verification code on mobile or Google Authenticator, we call them 2FA.

For vulnerabilities owned by the Wallet Hardware and Desktop Wallet is almost non-existent.

The security of a wallet that uses the 2FA Bitcoin Wallet is still reliable unless something is wrong with the Wallet owner.

Credibility and Transparency

The second point that should also be observed is the credibility and transparency of Bitcoin Wallet providers.

Any information about the provider’s background (identity), how to operate, the nature of the Wallet code, and other details must be clearly known.

In addition, you can ensure the credibility of service providers through various Bitcoin forums or blog reviews, websites, Youtube, etc.

By listening to the experiences of other users, of course, we can find out whether the provider of the Bitcoin Wallet is really credible or not.

Backup Features

Beside important points above as two considerations, you should select a crypto Wallet that has a backup feature with good encryption, as well as ease of restoration from the client owner of the Bitcoin Wallet.

Nothing wrong we prepare for full security for Bitcoin storage, given the many cases of hacking, phishing, and hijacking that infect the crypto world.

Best popular Bitcoin wallet service provider

There are many wallet providers, but we have summarized 7 examples that can provide Bitcoin storage facilities easily, quickly, and safely.

Read on.

Ledger Nano S (Hardware Wallet)

Ledger Nano S is one of the most popular Wallet Hardware on the market.

Including one advantage of this type of Bitcoin Wallet that supports several cryptocurrencies such as Litecoin, Ethereum, Ripple, Dash, Dogecoin, Neo, and Zcash.

All transactions with Ledger Nano S require manual input from a 4 digit PIN code.

Thus, this Bitcoin Wallet can be the safest, both from malware attacks and other types of hacking.

Bitcoin wallet ledger nano s

Beside application support from the first party Nano S, this device also supports various Wallet Software such as Copay and Electrum.

That is, the Ledger Nano S Wallet allows the addition of a security layer for your transactions.

All accounts on Ledger Nano S also have their own backups.

Wallet restoration-can is done easily if at any time your device is lost.

Bitcoin Wallet Size is only about 60 mm and shaped like a Flashdisk.

You can buy through the official site here

TREZOR (Wallet Hardware)

Next, the best Bitcoin Wallet Provider is TREZOR, like Ledge Nano S, it also provides Wallet Hardware.

Trezor supports Bitcoin, Litecoin, Ethereum, Dash, Dogecoin, Zcash, and some other Altcoins.

The Trezor Wallet has features that allow added security and integration to Wallet Software from third parties such as Electrum and Copay.

Bitcoin wallet provider trezor

TREZOR wallet transactions require confirmation via the hardware button, and also support for the 2FA security system as an additional layer of security.

You can buy Trezor through their official shop

Blockchain.info (Web Wallet)

Blockchain.info now is bitcoin.com is a superior Online Wallet because of its easy access.

Bitcoin Wallet Providers provide flexibility and transparency in showing transaction details, this is the main advantage of a bitcoin wallet.

You can clearly see all the details about transactions in the Blockchain ledger

blockchain wallet

In addition, there is also a Quick Send feature which is of course accompanied by additional costs.

So our transaction will have a higher priority for confirmation.

Although the Web Wallet type, Blockchain.info keeps prioritizing the user’s Wallet security.

This Bitcoin wallet can restore Private Key and Private Address Offline, so its very small the possibility of Wallet is hacked.

You can create a Blockchain wallet here

Coinbase (Web And Wallet Software)

Coinbase is a very popular marketplace service as Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.

Although it can function as a stock, not a few people are interested to use Coinbase as a source of cryptocurrency.

In offering its services to a provider of Bitcoin Wallet, Coinbase emerged in two formats at once, namely Web and Software Wallet.

bitcoin wallet provider coinbase

Coinbase can directly Generate Bitcoin Wallet Addresses from the User Interface provided, for Web-based Wallets.

As for the software-based devoted to iOS and Android devices.

The software allows users to log into the Wallet Coinbase from a Mobile device.

Coinbase is often regarded as the best Bitcoin Wallet option for those who still lay in the crypto world.

For credibility, Coinbase is no doubt, as there are now over 10 million active customers coming from 32 countries around the world.

Exodus (Software Wallet)

Exodus is a Software-based Wallet that runs on Windows and Mac computers. In addition to securely supporting Bitcoin storage, Exodus also supports the storage of most of the leading Altcoins.

blockchain wallet provider exodus

With clean and easy-to-understand visual features and designs, Exodus can display transactions and all of its own cryptocurrency portfolio.

One of the best features of Exodus is the ShapeShift Built-in that allows users to instantly exchange one crypto to another crypto.

So there is no need to use the services of an Exchanger in redeeming the value units of the coins.

You can download a wallet exodus through the official site here

Electrum (Software Wallet)

Wallet Electrum is one of the oldest Software-Based Bitcoin Wallets.

Electrum itself has been around since 2011 and is available for free download on Windows, Mac, and Linux computers.

bitcoin wallet provider electrum

There is also an Android Electrum app that can be downloaded from the Google Play Store for Smartphones and Android Tablets.

This software purse is limited to Bitcoin only, but for security issues and user comfort remains prioritized.

You can download wallet through their official site

Jaxx (Software Wallet)

Wallet provider Jaxx parts provider of Bitcoin Wallet which has been established since 2014.

The founder of Jaxx was Anthony Diiorio, one of Ethereum’s Co-Founders.

bitcoin wallet provider jaxx

Jaxx is a Software-based Wallet (Software) that can be used for storage of Bitcoin and Altcoins.

This wallet supports around 13 crypto coins, and may still be in development.

Jaxx provides a user-friendly UI (User Interface) that is easy to use.

No email verification required, no onboarding and no username or password to start using Jaxx.

Because nature is Software, Private Address and Private Key will be stored in the user device.

Various Operating systems already support Jaxx such as iOS, Android, Windows, Mac, OS X, and Linux.

Choose your Jaxx wallet to download here

Final thought

Bitcoin and other cryptocurrency are digital assets, you need to know the risk value of Bitcoin and another cryptocurrency, it can increase in value in the future, but it can also decrease in the future.

If your goal is to save Bitcoin for a long-term investment, wallet security really needs in this case, an offline wallet is much safer than hackers.

But if you have Bitcoin to trade, you should only keep the amount you need, don’t store all of your funds in a hot wallet that may be hacked.

So if you want to trade bitcoin with TenkoFX, you should use money that affords to lose first before imagining high gain.

It prevents to avoid shock if you get lost in your trade.

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