Choose your bitcoin wallet

Your bitcoin wallet:

There are several different types of Bitcoin wallets, but the most important distinction is in relation to who is in control of the private keys required to spend the bitcoins.

Some Bitcoin “wallets” actually act more like banks because they are holding the user’s private keys on behalf.

If you choose to use one of these services, be aware that you are completely at their mercy regarding the security of your bitcoins. Most wallets, however, allow the user to be in charge of their own private keys. This means that no one in the entire world can access your account without your permission. It also means that no one can help you if you forget your password or otherwise lose access to your private keys.

If you decide you want to own a lot of Bitcoin it would be a good idea to divide them among several different wallets. As the saying goes: “Don’t put all your eggs in one basket.”

Choose one or more wallet above etc

Choosing a wallet is easy, but there are lots of different options. The most important distinction is whether you control your own bitcoins just like a physical cash wallet or you have to trust someone else to hold your bitcoins for you.

There are advantages and disadvantages of both approaches, but in general experts think it is best for users to hold their bitcoins themselves.

You can have as many different Bitcoin wallets as you want, but it’s easiest to get started with a wallet for your iPhone or Android device so you will have your bitcoins with you wherever you go.