Bitcoin (BTC) almost does not need an introduction today – it is a modern version of gold, which is called a currency to rule everything. Having a price that really exploded over the past few years, Bitcoin continued the most trends upward and remained the most expensive cryptocurrency out there. Although the Ethereum (ETR) is in pursuit, it is still miles behind the BTC.
Jumping on the Cryptocurrency train can be proven to be profitable, but there are steps you need to take before you can get some Bitcoin. Like all other cryptocurrency, Bitcoin requires that you have a special wallet to store it. Cryptocurrency wallet is a form of storage for all your digital currencies; It holds evidence of each transaction you make, public or private, and all the assets you choose to be stored in certain wallets (through investopedia).
It should be noted that the Crypto wallet is not the same as the Cryptocurrency exchange. Exchange allows you to buy and sell Cryptocurrency, but you still need a wallet that acts as your own digital address and holds all the Crypto you are using.
Types of cryptocurrency wallets
There are two types of Cryptocurrency wallets: hot storage and cold storage (via 101 blockchains). They each come with their own pro and counter sets, even if you are just starting, you will most likely use a hot storage bitcoin wallet. These types of wallets are usually easier to set and are usually free to use other than the additional costs you might set for transactions.
The term “heat storage wallet” refers to the wallet that requires an internet connection to operate. It can be anything from the website, cellular application, or even the downloaded software that you installed on your computer. These wallets are often easier to start, but like other things with internet connections, they are more susceptible to theft. But rest assured that as long as you obey some basic internet safety rules, various protection steps owned by the best bitcoin wallet must be enough to keep your crypto safe and healthy.