One of the most attractive investments for regular investors is buying bitcoin. Even during this pandemic scenario, it has no intention to come down with a low price rate rather; the graph of the price of a single bitcoin is increasing day by day. Undeniably, hosting bitcoin in such an economic crisis can make an investor the richest person.
Description of Bitcoin
Bitcoin is a cryptocurrency that can be used as a mode of payment, but this action can only be done within a secure blockchain. In terms of security, it is completely secured as the whole networking system works on the theory of peer-to-peer system. Therefore, a holder of bitcoin can experience a hazardless payment because of its decentralized process.
In 2009, a Japanese named Satoshi Nakamoto originated this cryptocurrency. Initially, it was not much-earned popularity, but it attracted investors because of its innumerable benefits as the days passed. In today’s market, 1 bitcoin = 29,882.20€. Therefore, it is not difficult to understand why it earned so much popularity.
After buying a bitcoin, it needs to be protected. Bitcoin is no longer a physical coin, so the requirement of high security always remains. While often bitcoin holders wonder what type of wallet to choose and what to reject, we are here to solve the problem. Let us know some secured wallet to keep bitcoin.
Top 3 bitcoin wallet
-
Exodus –
A very useful as well as easy use wallet that has an in-built user-friendly interface. The facility of exchanging bitcoin with second-generation and even third generation is also installed. For example, a bitcoin holder can easily commute between several types of cryptocurrencies. With this facility, one can easily commute between 100+ currencies.
It earned popularity among the intermediates who just started investing in cryptocurrency. While many investors may not consider investing in bitcoin due to several myths about crypto, this application made those people interested too by providing them with a complete guide during investment.
However, although Exodus is totally perfect for intermediates, some experts often complain about its limitations, such as lack of open source and extremely secured chains. By using Exodus, one can easily edit the structure of the fee as per their financial ability. Besides, the customer service of this application is responsible for handling queries.
- Electrum –
It is considered one of the oldest bitcoin wallets until now because it came into existence just two years after the origination of bitcoin, i.e. in 2011. Whereas another bitcoin wallet will ask an investor to pay a registration fee, this one is totally free. If you are finding an authentic wallet, then without thinking much, go for Electrum. It achieves new height day by day among bitcoin users with excellent functioning facility and user-friendly options.
For intermediates and experts who used to be the oldest bitcoin investor, they are also finding it beneficial by switching into the intricate interface. The main reason for earning popularity from both expert and intermediate users can be it's open-source, which comforts a user to transact and exchange securely.
It is completely like a robot. A user can take complete control of this software easily. There is an ease of selecting the complexity level of security even. For instance, one can choose as per his wish while setting the authentication part. Whether he prefers two step authentication or one-time password-based, it completely depends upon the user.
Besides, if you use Electrum as a wallet, you don't have to worry about its security purpose. Here also user can edit the transaction fees as per their financial condition.
- Mycelium –
Investment is just like a good addiction which can enhance your financial condition. However, just like addition also has its bad effect, wrong investment decision can put you into an uncomfortable scenario. We have heard stories of investors who even borrow unsecured loans to buy a bitcoin. But even after being a holder of such a valuable currency, he fell into a financial crisis. Do you want to know why? The reason is the theft of bitcoin.
As it is not a physical coin, we mentioned earlier, so it needs to be protected through the secured wallet. Talking about security Mycelium is another wallet which completely free, user friendly and safeguards a bitcoin. While many wallets can't be operated through smartphones, it is made for mobile users. Besides, if you are not even a bitcoin holder and may hold cryptocurrencies like ETH or ERC-20 or even FIO, it can be used as a wallet.
With a simple interface, easy interchanging facility Mycelium has also earned huge popularity. Unlike, Electrum it also comes into existence long ago. Apart from using a soft wallet, one user can enjoy the benefit of a hard wallet as well. This hard wallet provides the support of keeping bitcoin secure even when you are offline.
We often heard people asking questions like: will it be a good decision to buy bitcoin by borrowing unsecured loans? Some also asked for bad credit score. No one but direct lenders only is lending those loans in UK. In that case, they feel a little puzzled whether they should invest in bitcoin or not. We show them the positive effects of bitcoin.
