Top 3 Reasons to Buy a Bitcoin Wallet Now

Top 3 Reasons to Buy a Bitcoin Wallet Now

A Bitcoin wallet is essentially a program which helps you store your Bitcoin securely. These hardware wallets are generally more secure than online wallets and provide more services. When you purchase Bitcoin on a website, you usually have a free wallet created for you. You should choose to buy Bitcoin wallet rather than using an online wallet to store your Bitcoin. In this article, we’re going to discuss some of the important advantages that you get when you buy Bitcoin wallet.

Buy a Bitcoin Wallet: Reason #1 A Secure Storage

A Bitcoin wallet is one of the most secure ways to store your bitcoins since the software isn’t connected to the internet. That prevents anybody who might try to gain access to your bitcoins. The whole idea behind a bitcoin wallet is that your Bitcoin information is not stored in a system with an internet connection. In a bitcoin wallet, there’s a secure element which makes sure that the Bitcoin hardware wallet is unhackable. It’s like the secure element in your sim or your credit card and it protects your Bitcoin. Thus, a hacker can’t access it and then steal your Bitcoin. So, you’re generally much safer with a Bitcoin wallet.

Buy a Bitcoin Wallet: Reason #2 Safe Transactions

Moreover, a hardware bitcoin wallet has a physical two-factor authentication. There are two buttons on the sides of the popular bitcoin wallet Ledger Nano S. You press both at the same time, in order to verify a transaction. Therefore, if your computer tries to pass a fraudulent transaction, it will show it to you on the screen of the USB key. So, you can avoid the transaction from taking place by not pressing the two buttons. This is pretty amazing because even if your computer is compromised, the Bitcoin wallet will not let go of your bitcoins.

Buy a Bitcoin Wallet: Reason #3 Coins Recovery

The security on a Bitcoin wallet is exceptional since you need a PIN to access the Bitcoin hardware wallet. If this PIN is entered incorrectly three times, all of the memory is wiped and the Bitcoin hardware wallet becomes useless. During the initialization of the Bitcoin wallet, a passphrase consisting of 24 random words is provided. This passphrase can be used to recover your device if stolen, lost or damaged. Thus, you can pretty much just buy a new bitcoin wallet and use that 24-word phrase to get your Bitcoin back!

Which Bitcoin wallet should you buy?

The Ledger Blue is “the most advanced hardware security gear on the market”, as Ledger puts it. The Bitcoin hardware wallet itself is almost as big as an iPhone, it has a wide display and boasts enterprise level crypto-capabilities into a lightweight device. It also has a secure element, similar to the Nano S, and features a touch screen, WiFi and Bluetooth connectivity. The device can download different applications that you might need for the storage of other digital currencies as well. The Ledger Blue supports Bitcoin, Ethereum, Ethereum Classic, Ripple, Dash, Dogecoin, ZCash, Stratis and Komodo. That’s a very long list and most people won’t buy anything more than a bitcoin so it’s very versatile as well.

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About Article Author

Michael Serrano
Michael Serrano

Michael is an engineer and a bitcoin evangelist. He has been involved in cryptocurrencies since 2013. His biggest wish? 1 billion users of bitcoin, ether and litecoin by 2020. In the last 10 years he has worked for various early-stage start-up as a back-end developer.

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