A bitcoin wallet is a program that stores and manage your bitcoins, just like a traditional wallet stores your cash.There are many bitcoin wallets to choose from depending on what you want to use bitcoin for and how often you will be using it.It is important to understand the risks and benefits of each wallet type before you download a wallet program and add any bitcoin to it.One thing to consider is how much money you want to store in each bitcoin wallet.For example, if you want a bitcoin wallet on your phone for spending bitcoin it is safer to only hold a small amount of your holdings in that wallet.If you wouldn’t hold $500 in cash in your wallet, don’t hold $500 worth of bitcoin in your mobile phone.There are plenty of cold storage wallets that you can store most of your bitcoin in, then just take out a small portion to your hot wallet for day-to-day spending.Related post:  Bitcoin Mobile Wallets for Smart Phones Security is essential when using any bitcoin wallet.You should always be cautious of where you download bitcoin wallets from because there are many malicious users out there who will hide a virus in the program in attempt to steal all of your bitcoins.

For that reason we do not host any wallets on our servers./en/choose-your-wallet Bitcoin Core –  is the default wallet program for most users.It has been around the longest and is a great wallet for desktop users who plan to use bitcoin regularly.Cons:  Bitcoin core is bulky and uses more resources than most wallets.wired bitcoin guideIt downloads the entire Bitcoin Blockchain, which contains over 5 years of transaction history and records the balance of every bitcoin address.bitcoin roi calculatorIf you shut down your computer you will have to play catch up with the bitcoin network and download any missing transaction records any time you want to send bitcoins.naomi bitcoinMultibit HD – is a very lightweight bitcoin wallet compared to core.china bitcoin restrictions

Multibit does not require you to download the whole blockchain so it synchronizes with the network faster and may be easier for less tech savvy users.Multibit integrates with Trezor wallet and TOR if you care about your privacy.Multibit is available in over 35 different languages.Cons:  If you don’t integrate TOR, peers can log your IP address and associate it with your transactions.bitcoin wallet distributionConfirmations are slightly less reliable than bitcoin core so you should wait for more block to confirm your payments when using this lighter wallet.bitcoin pool graphElectrum – is another lightweight bitcoin wallet.Electrum supports deterministic wallets which means you can manage several wallets with a single seed.Electrum also lets you sign and create transactions while offline, which is an added level of security.Electrum is a great wallet for those who want to secure their bitcoin in cold storage.

You can generate a Master Public Key and use it on any computer to create a watch-only wallet and monitor your cold storage funds without a password.Cons:  Centralized services are used to keep this wallet fast and simple, which means your IP can be associated with your transactions.Armory – is the only open-source wallet with cold storage and multi-signature support.It is considered an extremely secure way to store a significant amount of bitcoin.Armory makes it easy to manage your bitcoin wallet while your bitcoin is held in cold storage through ‘watch only’ addresses.Keeping bitcoin in cold storage is the safest way to store bitcoin, so a wallet that makes cold storage easy is essential for any large holder.Cons:  It is not lightweight like Electrum but otherwise is a fantastic bitcoin wallet.Once you are decide on a bitcoin wallet, click here to find out where to buy some bitcoin!Today, Bitfinex proudly introduces trading on Chain Split Tokens (CST).The first such product of its kind, CSTs will allow Bitfinex customers to speculate on future fork events of the Bitcoin blockchain, specifically, the potential fork between Bitcoin Core and Bitcoin Unlimited.

We are designating these CSTs as BCC (Bitcoin Core) and BCU (Bitcoin Unlimited).CSTs will trade as BTC and USD pairs, initially without margin, and as will any other product with list, we will reevaluate that decision if there is sufficient liquidity.Users will be able to create CSTs by “splitting” a bitcoin through the Token Manager (located in the Order Type drop down menu of the sidebar order ticket).Once split, the BTC will be removed from your account for each BCC and BCU added.Through the same Token Manager, you will be able to reverse this process at anytime, trading in equal numbers of BCC and BCU to extract BTC.If no fork occurs by December 31, 2017, then BCU will expire worthless and BTC will be given in exchange for each BCC holder.If, however, there is a fork, specifically Bitcoin Unlimited, then, as soon as we list Bitcoin Unlimited, we will exchange BCU tokens for Bitcoin Unlimited tokens as well as retiring BCC tokens in favor of Bitcoin Core tokens.More detailed information can be found in the Chains Split Token Terms and Conditions.

We are planning a few additional enhancements including a realtime display of total CSTs as well as segregated cold storage for the bitcoins that have been split, which we will periodically settle to and from our hot wallet.It can be difficult to learn how to use bitcoin but once you understand how bitcoin storage works the rest is much easier.Use this guide to learn about the different ways to store your bitcoins, then choose a bitcoin wallet below.When you use bitcoin you are sending bitcoins from one bitcoin address to another bitcoin address.Kind of like when you are sending someone an email.Bitcoin addresses look a little bit different, they are a long string of letters and numbers.Most bitcoin addresses start with a ‘1’ but some may start with a ‘3’.Here is a bitcoin address I used for another tutorial: Bitcoin Address (Public Key):  1Q3tcw3zkFgwF5Tf1XFX9teZHqk4dqhdGn Bitcoin users have a set of keys that keep their bitcoin stored, a ‘Public Key’ and a ‘Private Key’.

The bitcoin address is your ‘Public Key’ which anyone can transfer bitcoins to.It is safe to share your public key with anyone.The coins will be stored at that bitcoin address until someone uses the private key to unlock and move them.A private key is an even longer string of characters which anyone can use to spend the bitcoins in your bitcoin address.To store your bitcoins safely you just need to keep your private keys away from other people.Since private keys are a pain in the ass, most bitcoin wallets make it easier to manage them.Online Wallet:  An online wallet is a website or app that manages your private keys for you.The wallet provider generates a public key for you to send bitcoins to, then they hold your private key for you.If you want to use your coins you need to submit a bitcoin withdrawal request, normally by logging into your account and providing a password.  Blockchain.info Desktop Wallet:  A desktop wallet is a program that you can download on your computer.

It will generate new bitcoin addresses for you to use and allow you to encrypt your private keys and store them in a wallet.dat file that is password protected.You can backup this file and store it on an external hard drive or USB stick.When you want to spend bitcoins you open the program, give it your wallet.dat file, then provide your password to unlock your bitcoin.   Bitcoin Core Mobile Wallet:  Same idea as desktop wallet but for a smart phone.Some desktop & mobile wallets will give you a 12 word seed phrase instead of a wallet.dat file.Either the wallet.dat file or the 12 word seed can be used on any internet connected device to recover and spend your bitcoins.Mobile wallet examples:  Breadwallet Mycelium Paper wallet:  A paper wallet is bitcoins that are stored on good ole fashioned paper.You write down your public key and private key (or 12 word seed) on paper, check it over and over again to make sure it is correct (letter case matters).The idea behind paper wallets is if the private key is never connected to the internet it is much less vulnerable to thieves.

Paper Hardware Wallet:  A small device that is used to keep your private keys safe.Hardware wallets are for people who want to physically hold their bitcoins.Keep your hardware wallet wherever you want then connect the device to your computer when you need to spend some bitcoin.There is a small screen on the device to confirm your transaction details, then it sends the bitcoin payment without your private keys ever being on your computer.Hardware wallets cost about $100 which is cheap considering they allow you to safely store any amount of money and be your own bank.Hardware wallet example:  KeepKey  Trezor  Ledger All bitcoin wallets can be ‘Hot’ or ‘Cold’.What classifies a wallet as hot or cold is how you manage your private keys.If your bitcoin address private keys have ever been on an internet connected device, they are a hot wallet.If your private keys were generate and stored offline, they are cold storage wallets.Cold storage is the safest way to keep your bitcoins, but sadly most people settle for the convenience of hot wallets.