The internet has been abominable with countless mentions of “Bitcoin wallets” on various online platforms over the past couple of years, but there is a significant portion of the population who do not really know or understand what they Bitcoin. Are really. In this article, we list the best Bitcoin wallets out there right now. But first, let’s briefly cover some basics about Bitcoin.
What is Bitcoin?
Bitcoin is a digital currency that employs decentralized technology to store money and make secure and secure payments without the need for names of banks or people involved.
Invented by an unknown programmer / program as Satoshi Nakamoto and subsequently released as open source software in 2009, Bitcoin can not only be used to make purchases with a number of online retailers, but can also be used used to send real money all over the world!
What is a Bitcoin Wallet?
A Bitcoin wallet is software that stores information necessary for the bitcoin transaction. This is the first step in using bitcoins. Although it is often said that a wallet stores bitcoins, but in fact a Bitcoin wallet stores private keys (super complex passwords that only digital systems can understand) that give their users access to bitcoins. that can be used for monetary transactions. Think of a Bitcoin wallet as an interface that connects you to the Bitcoin network. Long story short, a Bitcoin wallet is absolutely essential to be able to store, receive and spend bitcoins.
Bitcoin wallets are of a few types, including hardware wallets, desktop wallets, web wallets, and mobile wallets. Now, let’s take a look at some of the best Bitcoin wallets for Android right now.
The best Bitcoin wallets for Android
As of now, MyCelium is the most popular Bitcoin wallet for Android users. It’s incredibly easy to use, lets you store your bitcoins, manage multiple accounts, and create backups. Its wallet is HD enabled (hierarchical deterministic wallet), which means it uses a “master seed” to sequentially derive all future Bitcoin addresses and never reuse addresses. It also offers a GPS-assisted local Bitcoin transaction, which allows you to see people who want to sell or buy bitcoin in your area.
Blockchain Wallet is one of the best Bitcoin wallets for Android. If you are into cryptocurrency trading, you can use this app to store all your cryptocurrencies.
This wallet supports major cryptocurrencies such as Bitcoin, Ethereum, Stellar, and USD PAX. The best thing about Blockchain Wallet is that it is equipped with security features like two-factor authentication, biometric or PIN unlock, server side entropy and save phrase, which provide the best protection to your stored funds. It is also completely free to use.
If you want to access your Bitcoin wallet on multiple devices, Copay is a neat option. The app securely stores separate and segregated Bitcoin wallets, allowing privacy-conscious business users to keep their funds properly segregated. Simply put, this means that on Copay you can involve multiple people in all transactions. It is also owned by one of the first Bitcoin wallets to support the Full Bitcoin Payment Protocol (BIP), a relatively new payment protocol designed by its developers to improve the security of Bitcoin.
If you are into cryptocurrency trading you may be aware that cryptocurrencies are very volatile and that a one minute delay can lead to huge losses and gains. So if you want to stay on top of your cryptocurrency trading, you can use the Blockfolio app.
This app provides live exchange prices from over 300 cryptocurrency exchanges around the world, including Coinbase Pro, Binance, Bittrex, CoinMama, and BitMEX. It also provides the latest updates and news from reputable sources around the web so you stay informed. If you are into crypto trading, Blockfolio is a great option for you.
Delta is a very effective cryptocurrency wallet tracker. The best thing about Delta is that it supports over 5,000 cryptocurrencies including Bitcoin, Ethereum, Litecoin, NEO, and Monero.
It also provides detailed parts analysis which helps you make the right decision. You can also set up price alerts, which comes in handy if you prefer short-term cryptocurrency investments. Delta is one of the best Bitcoin wallets for Android. You can use the app for free, but there are in-app purchases.