Bitcoin wallets are used to store, send, and receive cryptocurrency. A Bitcoin wallet has two parts: a public address to receive funds, and a private key to access and send the funds. If your private key is ever compromised, your Bitcoin and other coins can be stolen. Always choose trustworthy wallets and you shouldn’t experience any issues. Remember: not your keys, not your coins!
Mobile Wallets
Mobile wallets are one of the most popular ways to store and transact cryptocurrency. Mobile wallets allow users to store, send, and receive cryptocurrency anytime, anywhere. Many retail stores now accept Bitcoin as a form of payment, and mobile wallets are the best way to spend your Bitcoins.
Web Wallets
Web wallets utilize the same technology as mobile wallets, but they are only able to be accessed from a computer. Exchange wallets are also a form of web wallet. This refers to storing your cryptocurrency in exchanges (Coinbase, Kraken, Gemini, to name a few), which leaves all of your security and coins in the hands of one of these companies. Be cautious when doing this!
Hardware Wallets
Hardware wallets are the most secure form of cryptocurrency storage. Hardware wallets keep your private keys on a secure, offline device, while still allowing ease of use similar to web wallets. These types of wallet are also referred to as “cold storage,” as your cryptocurrency can’t be touched while the device is disconnected.
