Bitcoin has received a fair amount of accolades from investors despite the plummeting price in 2017, the cryptocurrency gained hype in 2019. People are now looking for investing in Bitcoin. This cryptocurrency runs on a Blockchain platform. If you, too, are interested in investing in Bitcoin and are willing to create a Bitcoin portfolio, then there is no better time than starting today. But, before you go ahead, you must have the right Bitcoin wallet wherein you can store Bitcoin. In this blog, we will be exploring the different ways of storing Bitcoin.
Desktop Wallet- These are also known as a cold storage method, and these are not connected to the internet. One of the key benefits of using a desktop wallet is that these are less vulnerable as compared to online wallets, which are easily accessible. You can access this wallet only via your desktop or PC. But these are not completely infallible as they can fall prey to hacks especially if your machines get infected with malware.
Hardware Wallet- If you are looking for a more secured option, then consider a hardware wallet, these are usually in the form of USB sticks, and you can carry them along with you. With a hardware wallet, none of the information is linked to the system, and hence it comes to an absolutely safe system. But here you must remember that you need to keep the hardware safely, in case you lose it, there is no way of recovering it.
Paper Wallet- This is also a safe option for storing Bitcoin. However, it requires an understanding of how digital currencies work. So, if you are looking for this option, opting for a crash course in Bitcoin or a certification course in Bitcoin by Blockchain would help. As a part of this certification, you will also garner complete information about Bitcoin, mining, and Bitcoin storage.
Coming to paper wallets, then you can generate paper wallets online via websites that especially look after this, or else you can generate the wallet offline as a more secured option. These are easy to store and don’t occupy too much space. Also, they maintain anonymity. It’s like writing Bitcoin seed on a paper.
Physical Coins- There are many companies coming up that allow Bitcoin investors to buy physical Bitcoin. These coins will have a tamper-proof covering of a pre-decided amount of Bitcoin. To buy these coins, you need to pay a slight premium over the value of Bitcoin.
So, these were some of the popular options of Bitcoin storage. You can gather more information about the same by learning more about them, or else, you can also join the Bitcoin certification program where you will get complete information about Bitcoin mining and storage.
Cryptocurrencies are going to change the way digital transactions operate. Despite the rise of other cryptocurrencies, Bitcoin maintains its prominence and popularity. There is no better time than starting today and investing in Bitcoin. Connect with the Blockchain Council for more information.