Paper Bitcoin wallets
On the generated BTC address, e.g. here: https://www.bitaddress.org, you can buy Bitcoins for FIAT money from a currency exchange like simplecoin.sk/. The safest thing to do with Bitcoin is not to work, just to accumulate them. For handling, you need to do a “RESTORE” using a private wallet on your web purse (e.g., Blockchain, Electrum). After “resetting” your bitmap settings, it is possible to work with your account as a web-based bitcoin wallet.
Hardware Bitcoin wallets
On your HW wallet, you can upload your BitTorrent address using a private key to a small device with a PC or mobile connection. Subsequently, all transactions are confirmed (signed) through this device. The level of protection is high, as the device connects to the network only for a short period of time when the transaction is executed. All HW Bitcoin wallets contain the latest and most secure technologies and procedures to keep your bitcoins safe.
Summary: Ledger is an HW wallet designed for users who want to increase security. The wallet is a physical device that connects to a computer and acts as another source of protection. This means you can not send Bitcoins out of a wallet without the physical device.
Ledger offers a number of products such as Ledger Nano S, Ledger Unplugged, etc. The most popular model is Ledger Nano S.
- Benefits: User-friendly, very secure, great support
- Disadvantages: More expensive, more secure = less usable (this is a problem with all wallets hardware)
Summary: TREZOR is the perfect solution for storing a large number of Bitcoins to keep them out of the way, a large drop in value. Combining world-class security with the flexibility of any other web wallet is ideal for beginners and professionals alike. The company has received a great deal of praise and positive reviews over the past year.
- Benefits: Extremely secure wallet, easy to use, supports more wallets and altcoins
- Disadvantages: High cost compared to its competitors
Coinbase web wallet
Summary: Coinbase is today the leading exchange service to buy and sell Bitcoin. It was established in 2012 and has since gained more than $ 31 million in venture capital financing. The Bitcoin Exchange service is available in 19 countries around the world. Their online wallet is nice for beginners, but in fact, Coinbase owns your funds.
Coinbase has recently launched a Vault service that denies control of your funds.
- Benefits: User-friendly, possibility to add money from wallet. It recognized the company with a great background.
- Disadvantages: The company has some control over your funds. Not supported globally (so far).
Summary: Most popular wallet for Bitcoins according to statistics. Blockchain.info allows you to send/receive Bitcoins through your browser or mobile. It is known as a hybrid wallet, which means that Blockchain.info stores your wallet online but does not have access to your private keys. As the purse is downloaded from their servers, some trust is still needed in the company. It recommended for beginners who are testing Bitcoins.
- Benefits: A Bitcoin community, a bellicose and trusted company, a quality interface available for mobile and websites
- Disadvantages: Trust to the third party and very demanding implementation of fully anonymous payments.