How to start a bitcoin wallet?

Discussion in 'Questions and Answers' started by riyasteve, May 8, 2019.

  1. riyasteve

    riyasteve New Member

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    Apr 10, 2019
    A bitcoin wallet helps its users to store their private key and public address in order to gain access to their cryptocurrencies and carry out secure transactions with them. Wallets can be physical devices (like a USB or any other hardware device), on paper (a printout of both public and private keys), as software (on a private computer), or a web wallet (online website).

    Several exchanges create wallets for new subscribers. If you are a user, you will only have to fill your wallet with bitcoins. Usually, when your wallet is managed by third parties, transaction fees are charged and there is the issue of security. In this case, unmanaged wallets prove to be a cheaper and safer option.

    There are multiple free wallets available in the market to choose from. You can pick based on your preferences - level of security, privacy, platform, etc. Depending on what suits you best, you can go ahead and choose a mobile app, an online platform or even a hardware device.

    Apart from all this, the most important task is to ensure that your funds are safe. Make sure you approach a trusted third party or download a reliable application to hold your cryptocurrencies.