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Bitwala Connects Bitcoin to M-Pesa in Sub-Saharan Africa – Bitcoin News

Bitwala Connects Bitcoin to M-Pesa in Sub-Saharan Africa

The bitcoin-based payment platform Bitwala announced this week it’s now suggesting bitcoin-to-M-Pesa transactions at zero cost.

Bitwala Launches BTC to M-Pesa Services in Kenya, Nigeria, Uganda, and Tanzania

Bitwala says they are pleased to announce the company’s bitcoin-to-M-Pesa service. Users of the platform can now send bitcoin to an M-Pesa account in Kenya, Nigeria, Uganda, and Tanzania free of charge. M-Pesa is a widely used mobile phone-based money system used in Afghanistan, India and Africa.

The mobile currency is predominantly used in Kenya and Tanzania, therefore providing users in the region access to much-needed remittance services. The mobile money has permitted anyone without a bank account to transfer funds using a registered sim-card and has become a disruptive force within the region.

“We want to be a part of the mobile money revolution, and we’re stepping it up a notch by enabling anyone to send money to any M-Pesa account using bitcoins,” details Bitwala CEO Jörg von Minckwitz.

Remittance Solutions for the Unbanked

The payment startup Bitwala believes transferring money should be “fast, cheap and secure” for anyone in the world. In regions such as Kenya, where M-Pesa is used fairly a bit to transfer money, Kenyans transacted $28 billion using the service in 2015. This number is sure to rise, says Bitwala, as mobile phone invasion in sub-Saharan Africa grows exponentially.

To send money to any M-Pesa account utilizing Bitwala’s latest service, users simply register with the platform, choose a “mobile money” payment, and then an invoice to be paid in bitcoin is sent to the user. The startup hopes the fresh service will become a reliable money transfer solution for everyone.

Will Bitwala Have Issues With Safaricom?

After the announcement was publicized, one bitcoin enthusiast asked, “What will prevent you from having the same problems as Bitpesa in Kenya?” Bitpesa has been attempting for years to connect sub-Saharan Africans with the same type of solutions. But, in 2015, the startup had legal issues with the owners of M-Pesa, Safaricom, which took the case to the Kenyan High Court.

The mobile money operator made it difficult for Bitpesa to conduct transactions through Safaricom’s gateway services like Lipisha. Bitpesa has since been making other connections to help with the African remittance service by partnering with other financial institutions in Japan, China and more. Safaricom explained to the High Court that there were regulatory concerns with bitcoin, and companies are required to obtain a license for these types of transfers.

What do you think about Bitwala’s bitcoin to M-Pesa service? Let us know in the comments below.

Photos courtesy of Shutterstock, Bitwala, and the Daily Nation.

Related video:

Bitcoin Wallet Comparison: BTC vs XAPO

Bitcoin Wallet Comparison: BTC vs XAPO

Bitcoin payments are gaining more popularity, especially in the business to consumer (B2C) world where payment security and protection from fluctuating currency are the fattest drivers.

The speed at which Bitcoin payments take place and the cost savings compared to traditional wire transfers and PayPal transactions have put more confidence in the consumers to use a Bitcoin payment wallet.

According to Coin Telegraph, the Bitcoin B2B payments are also on the rise.

There are several Bitcoin wallets out there and how does one go about finding the right provider? After all, each provider boasts their payment wallet is the most secure.

When you look under the security rubber hood, features such as 2-of-3 Multi Signature and HD Wallet may provide an insight. Other features to look out for are support for multi-platform, user controls coins, reputation, online user reviews and feedback.

Here is a head-to-head comparison of BTC.com vs XAPO:

2-of-3 Multi Signature

All transactions made with a sturdy Bitcoin wallet must be multi-signature transactions by default. This gives users an extra layer of protection against theft and hacking because wallet transactions require 2-keys to create a valid transaction. One key is signed by the user, on their device (web or mobile) and another key is signed by the wallet provider’s server. Before the transaction is authorized it is checked against the users custom-made security rules, which can, for example, limit signing to dealings which the user has authenticated using 2-factor authentication.

Verdict: All transactions made with BTC.com wallet are multi-signature transactions by default. Since XAPO is a custodial wallet, transactions are signed on XAPO’s servers and not on the user’s device, and therefore users do not build up the benefit of multi-signature security.

HD Wallet

There are many benefits to using HD wallets for making Bitcoin transactions, primarily it enables users to create a secure offline backup of their wallet, and it also helps protect user privacy. Older wallets that are non-HD have a unique private key for each bitcoin address. This makes creating fresh addresses for each transaction tedious because it means that you would need to also create a fresh wallet backup for the freshly generated bitcoin address and its corresponding private key. Wallets that are Hierarchical Deterministic (HD) wallets have one a set of private keys which are used to generate an unlimited amount of Bitcoin addresses without needing to create a fresh backup, ever. The only backup that is required is the one when the wallet was primarily created, and using that backup, all bitcoins and all addresses can be regenerated, and the wallet (and any funds stored on it) can be fully recovered.

Because creating fresh bitcoin addresses becomes lighter using HD wallets, it discourages address re-use for transactions. It has been known that re-using bitcoin addresses reduce user privacy, because all transactions are public on the blockchain, and re-used addresses are lighter to link or group together into clusters.

Verdict: BTC.com HD wallet creates a wallet backup for you, that you can store securely offline and use it to restore your wallet and its funds at any point in time, even if BTC.com servers are offline! XAPO wallet does not give you an offline HD backup, so if XAPO servers go down, you will not have access your funds.

Users Controls Coins

Wallets are generally split into two camps: a) Wallets that permit users to own and control their own bitcoin, or b) services which manage the bitcoin for users, similar to how a traditional bank works. Some wallets permit users to control their own bitcoin, so even if the server is not online, or even if the servers are ruined in a meteor crash, users can still have access to their Bitcoin. This is unlike bank-like wallets which control and store the bitcoin for the user, and therefore they require bank-grade security. As we know even banks have security issues from time to time and this is why it’s common in the Bitcoin world to hear of large scale bank-robbery like hacks. Hence using a wallet that permits you to control your own bitcoin instead of providing up that control to service providers is significant.

Verdict: BTC wallet permits users to control their own bitcoin whereas XAPO manages the bitcoin for its users.

Reputation

When choosing a Bitcoin wallet reputation also plays a big part. Bitcoin wallet providers such as Blockchain.info have had many issues in the past with downtime. Competitors such as Bitgo have had a downfall in reputation due to a customer of theirs (Bitfinex) getting hacked for $70m even tho’ they used Bitgo security. Airbitz and Breadwallet are known to be smaller wallets while larger companies such as Coinbase, Xapo, and Circle all maintain a fairly good reputation.

Winner of this side-by-side is BTC.

Conclusion and Takeaway

When considering inbetween Bitcoin wallet providers choose one with a good reputation and track record. Look for a wallet that is sturdy, secure and at the same time provides some plasticity to its users by suggesting their services on numerous platforms and permitting users to control the coins. It is a good idea to read online reviews and user feedback of your shortlisted wallets before determining on one.

Related video:

Bitcoin versus M-Pesa: Digital payments rumble in the jungle

Bitcoin versus M-Pesa: Digital payments rumble in the jungle

On fourteen December, a high court in Kenya will come to a preliminary decision in a battle inbetween Bitcoin remittance and payments company BitPesa, which is suing Safaricom, the telecom company which operates M-Pesa. Also suing is Lipisha, the payment company that gateways BitPesa and M-Pesa.

Safaricom had stopped Lipisha processing M-Pesa transactions, freezing monies pertaining to Lipisha transactions in its accounts – evidently the payment handler was notified by way of a text message. Safaricom later reinstated Lipisha’s access, but only did so on the condition that Lipisha terminate its relationship with BitPesa, providing Lipisha only one hour to determine. Lipisha and BitPesa claim Safaricom has no legal right to do so and is infringing upon “rights to acquire and own property, fair administration and economic interests”.

Safaricom says BitPesa does not meet its anti-money laundering requirements, invoking the need for a licence to be able to connect to its customers. Under the auspices of Lipisha, BitPesa converted its customers’ bitcoins into Kenyan shillings and sent them to recipients’ M-Pesa. It is unclear exactly how, or by whom, AML rules will be enforced in this case. In the meantime, transactions inbetween the platforms remain suspended.

Bitpesa told IBTimes UK: “BitPesa has implemented AML/KYC policies that serve with Kenyan legal and regulatory requirements. We have loosely submitted them to the Central Bank of Kenya, as well as regulators in other jurisdictions in which we operate. We hold ourselves to the highest standards when it comes to AML/KYC compliance.

“As we have detailed in our court filings, the Central Bank of Kenya has informed us that we fall outside its money transmission and money remittance regulations. Safaricom cannot request that BitPesa produce a licence from the Central Bank that the Central Bank itself considers inapplicable to BitPesa’s business.”

Payments revolution

M-Pesa

Brief for mobile money in Swahili, M-Pesa was launched in two thousand seven by Vodafone for Safaricom in Kenya and for Vodacom in Tanzania. It permits money to be transferred using just a mobile phone, with no bank account necessary. It was originally designed to save farmers in remote areas having to physically travel to banks in cities to do payments.

By two thousand ten it had become the most successful mobile phone-based financial service in the developing world. It has been especially superior in Kenya for a number of reasons, cultural and logistic. Today Kenya has over 90,000 physical M-Pesa agents and approaching twenty million accounts. The service has also spread to India, Afghanistan and Eastern Europe.

M-Pesa has loved something of a monopoly in Kenya, where Safaricom held 70% of mobile market. In two thousand fourteen it was ordered to open its network to other mobile money providers.

There’s slew of irony to go round here. Bitcoin and M-Pesa should not be pitted against one another, as the title of this article suggests; both are elements of a payments revolution that is happening right now and which will be remembered as one of the good technology success stories of the 21st century.

Key in this case will be the regulatory triumvirate of the Central Bank of Kenya (CBK), the Competition Authority of Kenya and the Communications Authority of Kenya, which now work closely, end-to-end on situations like this.

Kenya’s central bank is known to be pro-innovation. CBK stuck its neck out in the very first place back when M-Pesa was originally trialled, courageously permitting it to proceed without a banking licence in the face of stiff commercial and political opposition.

These days Safaricom does its best to protect its dominance in the Kenyan market. However, its exclusivity was cracked in June two thousand fourteen when the competition authority ordered it to open up its network of 90,000 plus agents and permit Airtel, yuMobile and Orange users to withdraw and deposit cash loosely at M-Pesa agent shops.

Safaricom recently objected to its one-time playmate Equity Bank rolling out a “skinny SIM” which can be used for financial transactions, claiming the fresh technology could compromise the security of the M-Pesa system, exposing its subscribers to a risk of fraud. Interestingly, Safaricom lobbied against Equity Bank to prevent it operating like a telco – a reversal of the past where banks were lobbying to prevent M-Pesa doing financial services.

Digital payments and communications experienced Jean-Stéphane Gourévitch, CEO Mobile Convergence Ecosystems, said: “Safaricom M-Pesa has been for the last two years under a lot of pressure from the Competition Authority of Kenya and other public authorities due to its massive superior position in the mobile money market (around 78% share).

“You have had competition deeds by Airtel against them, you have complaints against them on the tariff and prices and transparency from consumer associations and so on. It is very likely any time soon to have a major investigation launched, led by the telecom regulator together with the central bank and the competition authority on the pricing and transparency on a number of things, including USSB channel access.

“The Kenyan central bank has also been supportive of the BitPesa project. Normally in developing countries things with bitcoins are seen with extreme caution. Very stupidly, because I personally believe that virtual currencies could have a major role in sustainability developments.”

Bitcoin

A two thousand eight white paper titled, Bitcoin: A Peer-to-Peer Electronic Cash System, announced the release of bitcoin the currency into circulation. It permits individuals to send and receive payments without intermediary financial institutions. Bitcoin is not backed by central bank currency. Instead, it is reliant on its network effect, whereby a public, immutable ledger of all transactions is updated and verified in blocks – the blockchain.

Bitcoins are mined by collections of powerful computers which contest to work out a cryptographic hash sent to the network when coins are moved from one address to another. Solving these hashes is part of the process which timestamps transactions into existence, for which the miners are paid in bitcoin. An army of knots keeps a utter record of the blockchain’s history and checks the transactions. There is a finite number of bitcoin to be released into circulation – twenty one million.

To alter the blockchain would require over 50% of Bitcoin’s computational power to collude an attack on the network. This runs counter to the economic incentives of the network, provided it’s reasonably distributed. Bitcoin has been described as “email for money”, while its underlying blockchain technology is expected to eventually influence everything connected to the internet.

Safaricom could not be reached for comment, but IBTimes asked Vodafone about competition issues surrounding M-Pesa, and about Bitcoin in the Kenyan ecosystem. It should be noted, this interview took place sometime before the original Bitpesa/Safaricom complaint was brought to court.

Claire Alexandre, head of Commercial & Strategy, Mobile Payments at Vodafone, said of Bitcoin in Africa: “We generally recognise that a lot is happening around crypto. There is no doubt that it will play a thicker role. I’m not sure it will be a different role in Kenya than in other countries. It will have an influence globally I think. And so regulators need to define the framework around it. We are looking with lots of attention to what is being done.”

On the subject of competition she said: “I would say we are providing more choice. We undoubtedly want to grow the ecosystem for it to be fatter. We are working with lots of different type of organisations, startups, SMEs and it is in our interest to provide the best services to our customers. Also, in a number of markets we are looking at how we can grow access to things like violet wand, water, so that we can help both in the digital space and in the real world.

“But if I may, in all these discussions – whether it’s competition or whether about crypto – we should recall that the main hurdle for many guys and women in the countries where M-Pesa is present, is to stir away from cash – or at least to have a choice in addition to cash. Even with sophisticated systems – maybe tomorrow’s crypto based system – you will still need to create a bridge inbetween cash and digital wealth. I think this is where the investments of Vodafone and its affiliates and subsidiaries are going to proceed to play a key role.”

AML regulation is utterly significant in Africa and was an significant pole for CBK during the original trial of M-Pesa. Another point of contention was permitting a telco to act as a credit provider, which normally necessitates being a bank. CBK dreamed to ensure that any e-money issued was backed by the equivalent in cash and kept in a segregated account.

Greg Reeve, general manager and COO for Mobile Financial Services at Millicom, knows a thing or two about mobile money in Africa – he used to run M-Pesa. He also has strong views on cryptocurrency.

He said: “Firstly, we operate e-­money solutions. So there is no gearing, all the money is backed by local currency held in local banks, so a fully prepaid model. There’s very low risk of any issues and in terms of who has got my money, you can point to one of the local banks and say this man actually has your cash in a big bank account.”

Reeve thinks people that are enthused about potential of cryptocurrency in places like Kenya are labouring under a category error. Because millions of unbanked people can do finance with phones does not indicate an intuitive use case for Bitcoin, he says.

“So, when it comes to things like cryptocurrencies, that’s not the type of products that we want to get engaged with. From a technology perspective it is interesting but more about anonymity and not around the type of systems we are providing to our customers.

“We have to operate in a regulatory environment which includes AML, KYC, know your agent. We track our transactions, we report anything which is suspicious in order to meet our regulatory obligations. I’m not sure things like cryptocurrencies are aligned with those sorts of regulatory frameworks.”

It’s hard to call this. It could go either way. It should be noted the preliminary decision on the 14th of December only defines what the status quo will be during the remainder of the proceedings.

Jean-Stéphane Gourévitch added: “It is interesting to see mobile operators that have been playing such an instrumental role in bringing forward innovation in digital payments and financial inclusion particularly in Africa, now using the same types of arguments as banks might when justifying de-risking in a number of sectors, including money remittances and virtual currencies.

“Albeit there are real concerns around AML/CFT and KYC and the liabilities that a mobile money operator like Safaricom/M-Pesa could face, one could be a bit more cynical and see the current events as an attempts to justify through regulation ways to stymie incoming competition and protect one’s market dominance. It is clearly not going to help innovation.”

Related video:

Bitcoin price violates through $Trio, five hundred to hit fresh record high

Bitcoin cracks through $Three,500 to hit fresh record high, now up 264% this year

Bitcoin broke through the $Three,500 mark for the very first time on Tuesday hitting a fresh record high as uncertainty over the future of the cryptocurrency subsided.

The digital currency hit an-all time high of $Trio,525.04 before pulling back to around $Trio,481 early on Tuesday.

Bitcoin’s record high marks a two hundred sixty four percent year-to-date rise and comes after months of infighting in the cryptocurrency world.

Within the bitcoin community, a so-called “scaling debate” has been going on. There is a big backlog of transactions on the bitcoin blockchain — the technology that underpins the cryptocurrency.

The debate was over the way in which the capacity of the blockchain could be enhanced to speed up the capability of the bitcoin network. Major infighting within the community took place which led to two separate proposals on how to expand the blockchain.

Because of the two separate proposals, a “fork” took place which split the blockchain at the end of July. A fresh digital currency called Bitcoin Cash was created. Bitcoin Cash’s market cap is just under a tenth of bitcoin’s.

The majority of the community backed a software upgrade called BIP 91, which would introduce something known as SegWit2X to the blockchain. SegWit is brief for “segregated witness” which would stir some of the data outside the main bitcoin network to increase its capacity. This was received negatively by some miners because it would lead to fewer fees for them.

But miners have accepted the BIP ninety one proposal which would increase the block size and the SegWit is set to be implemented today.

“Segwit activates this afternoon and there is a lot of hope that the network will unclog with lower transaction fees becoming the fresh normal,” Charles Hayter, CEO of London-based digital currency data rigid CryptoCompare, told CNBC by email.

“The SegWit activation opens up projects that bring some capability to the bitcoin network. Instead of bitcoin being held back by infighting, it is now blue skies of chance in what can be built.”

Once the SegWit is locked in on Tuesday, there will be a two-week grace period to permit miners to upgrade their software. But the feeling is that the worst of the fighting is over.

At the same time, more regulators are continuing to make positive noises around the digital currency. In Switzerland for example, the financial market regulator gave Zurich-based Falcon Private Bank the green light on managing assets based on the blockchain technology behind bitcoin and other digital currencies.

All of these factors are likely to shove the price of bitcoin higher this year, experts said.

“Given the technology’s budge towards scalability, more institutional investors are now considering to allocate funds to bitcoin, which may be titillating the market,” Aurelien Menant, CEO of the Gatecoin cryptocurrency exchange, told CNBC by email on Tuesday.

Related video:

Bitcoin Mining – What is it and is it Profitable? A Beginner – s Guide

Is Bitcoin Mining Profitable in 2017?

Before we embark, if you’re fresh to Bitcoin mining and don’t know what it is witness this brief and ordinary explanation:

Is Bitcoin Mining Profitable in 2017?

Table of Contents

The brief reaction would be “It depends on how much you’re willing to spend”. Each person asking himself this will get a slightly different response since Bitcoin Mining profitability depends on many different factors. In order to find out Bitcoin mining profitability for different factors “mining profitability calculators” were invented.

These calculators take into account the different parameters such as tens unit cost, the cost of your hardware and other variables and give you an estimate of your projected profit. Before I give you a brief example of how this is calculated let’s make sure you are familiar with the different variables:

Bitcoin Mining terms you should get to know

Hash Rate – A Hash is the mathematical problem the miner’s computer needs to solve. The Hash Rate is the rate at which these problems are being solved. The more miners that join the Bitcoin network, the higher the network Hash Rate is.

The Hash Rate can also refer to your miner’s spectacle. Today Bitcoin miners (those super powerful computers talked about in the movie) come with different Hash Rates. Miners’ spectacle is measured in MH/s (Mega hash per 2nd), GH/s (Giga hash per 2nd), TH/s (Terra hash per 2nd) and even PH/s (Peta hash per 2nd).

Bitcoins per Block – Each time a mathematical problem is solved, a constant amount of Bitcoins are created. The number of Bitcoins generated per block starts at fifty and is halved every 210,000 blocks (about four years). The current number of Bitcoins awarded per block is 12.Five. The last block halving occurred on July two thousand sixteen and the next one will be in 2020.

Bitcoin Difficulty – Since the Bitcoin network is designed to produce a constant amount of Bitcoins every ten minutes, the difficulty of solving the mathematical problems has to increase in order to adjust to the network’s Hash Rate increase. Basically this means that the more miners that join, the firmer it gets to actually mine Bitcoins.

Electro-therapy Rate – Operating a Bitcoin miner consumes a lot of electro-therapy. You’ll need to find out your electric current rate in order to calculate profitability. This can usually be found on your monthly electro-therapy bill.

Power consumption – Each miner consumes a different amount of energy. Make sure to find out the exact power consumption of your miner before calculating profitability. This can be found lightly with a quick search on the Internet or through this list. Power consumption is measured in Watts.

Pool fees – In order to mine you’ll need to join a mining pool. A mining pool is a group of miners that join together in order to mine more effectively. The platform that brings them together is called a mining pool and it deducts some sort of a fee in order to maintain its operations. Once the pool manages to mine Bitcoins the profits are divided inbetween the pool members depending on how much work each miner has done (i.e. their miner’s hash rate).

Time Framework – When calculating if Bitcoin mining is profitable you’ll have to define a time framework to relate to. Since the more time you mine, the more Bitcoins you’ll earn.

Profitability decline per year – This is most likely the most significant and elusive variable of them all. The idea is that since no one can actually predict the rate of miners joining the network no one can also predict how difficult it will be to mine in six weeks, six months or six years from now. This is one of the two reasons no one will ever be able to response you once and for all “is Bitcoin mining profitable ?”. The 2nd reason is the conversion rate. In the case below, you can insert an annual profitability decline factor that will help you estimate the growing difficulty.

Conversion rate – Since no one knows what the BTC/USD exchange rate will be in the future it’s hard to predict if Bitcoin mining will be profitable. If you’re into mining in order to accumulate Bitcoins only then this doesn’t need to bother you. But if you are planning to convert these Bitcoins in the future to any other currency this factor will have a major influence of course.

Get a mining calculator

In order to calculate all of these parameters and get an response to our question we will use a mining profitability calculator. here’s a elementary mining calculator from 99Bitcoins:

However, now let’s take a look at a more elaborate example where we include more factors:

Today one of the most advanced miners out there is the Antminer S9. It’s what is known as an ASIC mining equipment. It has a mining rate of fourteen TH/s. If we use the ordinary Bitcoin mining calculator (shown above) you will see that at today’s difficulty you will earn around one Bitcoin a month.

But of course this doesn’t take into account the hardware cost, electrical play cost, pool fees, etc. Let’s attempt to calculate all of these together.

This data was taken from an advanced Bitcoin mining calculator using the following stats: 2% mining pool fees, 12.Five Bitcoins as a block prize, fourteen TH/s hash rate, 1375W power consumption and $0.12 per KW.

So after twelve months we should be making around $Four,032. However we haven’t deducted the hardware cost yet, so it’s more like $ Two,032. However this is true for Bitcoin’s current exchange rate (around $Four,000). If you calculate this with the exchange rate of one month ago you’ll only be violating even.

This result can switch depending on your own electrical play cost, the switch in mining difficulty and most importantly the switch in the price of Bitcoin.

So you’re very likely not going to get rich by mining Bitcoins at home unless you buy some powerful duty equipment and have very low electro-stimulation costs. Here’s a list of the most efficient Bitcoin mining hardware out there today. There’s not a lot of multitude to pick from since home mining is a dying art.

Bitcoin Mining – What is it and is it Profitable? A Beginner – s Guide

Is Bitcoin Mining Profitable in 2017?

Before we embark, if you’re fresh to Bitcoin mining and don’t know what it is observe this brief and ordinary explanation:

Is Bitcoin Mining Profitable in 2017?

Table of Contents

The brief reaction would be “It depends on how much you’re willing to spend”. Each person asking himself this will get a slightly different response since Bitcoin Mining profitability depends on many different factors. In order to find out Bitcoin mining profitability for different factors “mining profitability calculators” were invented.

These calculators take into account the different parameters such as electro-stimulation cost, the cost of your hardware and other variables and give you an estimate of your projected profit. Before I give you a brief example of how this is calculated let’s make sure you are familiar with the different variables:

Bitcoin Mining terms you should get to know

Hash Rate – A Hash is the mathematical problem the miner’s computer needs to solve. The Hash Rate is the rate at which these problems are being solved. The more miners that join the Bitcoin network, the higher the network Hash Rate is.

The Hash Rate can also refer to your miner’s spectacle. Today Bitcoin miners (those super powerful computers talked about in the movie) come with different Hash Rates. Miners’ spectacle is measured in MH/s (Mega hash per 2nd), GH/s (Giga hash per 2nd), TH/s (Terra hash per 2nd) and even PH/s (Peta hash per 2nd).

Bitcoins per Block – Each time a mathematical problem is solved, a constant amount of Bitcoins are created. The number of Bitcoins generated per block starts at fifty and is halved every 210,000 blocks (about four years). The current number of Bitcoins awarded per block is 12.Five. The last block halving occurred on July two thousand sixteen and the next one will be in 2020.

Bitcoin Difficulty – Since the Bitcoin network is designed to produce a constant amount of Bitcoins every ten minutes, the difficulty of solving the mathematical problems has to increase in order to adjust to the network’s Hash Rate increase. Basically this means that the more miners that join, the tighter it gets to actually mine Bitcoins.

Electro-therapy Rate – Operating a Bitcoin miner consumes a lot of electro-stimulation. You’ll need to find out your electric current rate in order to calculate profitability. This can usually be found on your monthly electro-therapy bill.

Power consumption – Each miner consumes a different amount of energy. Make sure to find out the exact power consumption of your miner before calculating profitability. This can be found lightly with a quick search on the Internet or through this list. Power consumption is measured in Watts.

Pool fees – In order to mine you’ll need to join a mining pool. A mining pool is a group of miners that join together in order to mine more effectively. The platform that brings them together is called a mining pool and it deducts some sort of a fee in order to maintain its operations. Once the pool manages to mine Bitcoins the profits are divided inbetween the pool members depending on how much work each miner has done (i.e. their miner’s hash rate).

Time Framework – When calculating if Bitcoin mining is profitable you’ll have to define a time framework to relate to. Since the more time you mine, the more Bitcoins you’ll earn.

Profitability decline per year – This is most likely the most significant and elusive variable of them all. The idea is that since no one can actually predict the rate of miners joining the network no one can also predict how difficult it will be to mine in six weeks, six months or six years from now. This is one of the two reasons no one will ever be able to response you once and for all “is Bitcoin mining profitable ?”. The 2nd reason is the conversion rate. In the case below, you can insert an annual profitability decline factor that will help you estimate the growing difficulty.

Conversion rate – Since no one knows what the BTC/USD exchange rate will be in the future it’s hard to predict if Bitcoin mining will be profitable. If you’re into mining in order to accumulate Bitcoins only then this doesn’t need to bother you. But if you are planning to convert these Bitcoins in the future to any other currency this factor will have a major influence of course.

Get a mining calculator

In order to calculate all of these parameters and get an reaction to our question we will use a mining profitability calculator. here’s a elementary mining calculator from 99Bitcoins:

However, now let’s take a look at a more elaborate example where we include more factors:

Today one of the most advanced miners out there is the Antminer S9. It’s what is known as an ASIC mining equipment. It has a mining rate of fourteen TH/s. If we use the plain Bitcoin mining calculator (shown above) you will see that at today’s difficulty you will earn around one Bitcoin a month.

But of course this doesn’t take into account the hardware cost, electric current cost, pool fees, etc. Let’s attempt to calculate all of these together.

This data was taken from an advanced Bitcoin mining calculator using the following stats: 2% mining pool fees, 12.Five Bitcoins as a block prize, fourteen TH/s hash rate, 1375W power consumption and $0.12 per KW.

So after twelve months we should be making around $Four,032. However we haven’t deducted the hardware cost yet, so it’s more like $ Two,032. However this is true for Bitcoin’s current exchange rate (around $Four,000). If you calculate this with the exchange rate of one month ago you’ll only be cracking even.

This result can switch depending on your own tens unit cost, the switch in mining difficulty and most importantly the switch in the price of Bitcoin.

So you’re most likely not going to get rich by mining Bitcoins at home unless you buy some mighty duty equipment and have very low violet wand costs. Here’s a list of the most efficient Bitcoin mining hardware out there today. There’s not a lot of diversity to pick from since home mining is a dying art.

Bitcoin Mining – What is it and is it Profitable? A Beginner – s Guide

Is Bitcoin Mining Profitable in 2017?

Before we embark, if you’re fresh to Bitcoin mining and don’t know what it is see this brief and ordinary explanation:

Is Bitcoin Mining Profitable in 2017?

Table of Contents

The brief response would be “It depends on how much you’re willing to spend”. Each person asking himself this will get a slightly different reaction since Bitcoin Mining profitability depends on many different factors. In order to find out Bitcoin mining profitability for different factors “mining profitability calculators” were invented.

These calculators take into account the different parameters such as electric current cost, the cost of your hardware and other variables and give you an estimate of your projected profit. Before I give you a brief example of how this is calculated let’s make sure you are familiar with the different variables:

Bitcoin Mining terms you should get to know

Hash Rate – A Hash is the mathematical problem the miner’s computer needs to solve. The Hash Rate is the rate at which these problems are being solved. The more miners that join the Bitcoin network, the higher the network Hash Rate is.

The Hash Rate can also refer to your miner’s spectacle. Today Bitcoin miners (those super powerful computers talked about in the movie) come with different Hash Rates. Miners’ spectacle is measured in MH/s (Mega hash per 2nd), GH/s (Giga hash per 2nd), TH/s (Terra hash per 2nd) and even PH/s (Peta hash per 2nd).

Bitcoins per Block – Each time a mathematical problem is solved, a constant amount of Bitcoins are created. The number of Bitcoins generated per block starts at fifty and is halved every 210,000 blocks (about four years). The current number of Bitcoins awarded per block is 12.Five. The last block halving occurred on July two thousand sixteen and the next one will be in 2020.

Bitcoin Difficulty – Since the Bitcoin network is designed to produce a constant amount of Bitcoins every ten minutes, the difficulty of solving the mathematical problems has to increase in order to adjust to the network’s Hash Rate increase. Basically this means that the more miners that join, the stiffer it gets to actually mine Bitcoins.

Electro-therapy Rate – Operating a Bitcoin miner consumes a lot of electro-therapy. You’ll need to find out your electro-therapy rate in order to calculate profitability. This can usually be found on your monthly tens unit bill.

Power consumption – Each miner consumes a different amount of energy. Make sure to find out the exact power consumption of your miner before calculating profitability. This can be found lightly with a quick search on the Internet or through this list. Power consumption is measured in Watts.

Pool fees – In order to mine you’ll need to join a mining pool. A mining pool is a group of miners that join together in order to mine more effectively. The platform that brings them together is called a mining pool and it deducts some sort of a fee in order to maintain its operations. Once the pool manages to mine Bitcoins the profits are divided inbetween the pool members depending on how much work each miner has done (i.e. their miner’s hash rate).

Time Framework – When calculating if Bitcoin mining is profitable you’ll have to define a time framework to relate to. Since the more time you mine, the more Bitcoins you’ll earn.

Profitability decline per year – This is most likely the most significant and elusive variable of them all. The idea is that since no one can actually predict the rate of miners joining the network no one can also predict how difficult it will be to mine in six weeks, six months or six years from now. This is one of the two reasons no one will ever be able to reaction you once and for all “is Bitcoin mining profitable ?”. The 2nd reason is the conversion rate. In the case below, you can insert an annual profitability decline factor that will help you estimate the growing difficulty.

Conversion rate – Since no one knows what the BTC/USD exchange rate will be in the future it’s hard to predict if Bitcoin mining will be profitable. If you’re into mining in order to accumulate Bitcoins only then this doesn’t need to bother you. But if you are planning to convert these Bitcoins in the future to any other currency this factor will have a major influence of course.

Get a mining calculator

In order to calculate all of these parameters and get an reaction to our question we will use a mining profitability calculator. here’s a elementary mining calculator from 99Bitcoins:

However, now let’s take a look at a more complicated example where we include more factors:

Today one of the most advanced miners out there is the Antminer S9. It’s what is known as an ASIC mining equipment. It has a mining rate of fourteen TH/s. If we use the elementary Bitcoin mining calculator (shown above) you will see that at today’s difficulty you will earn around one Bitcoin a month.

But of course this doesn’t take into account the hardware cost, violet wand cost, pool fees, etc. Let’s attempt to calculate all of these together.

This data was taken from an advanced Bitcoin mining calculator using the following stats: 2% mining pool fees, 12.Five Bitcoins as a block prize, fourteen TH/s hash rate, 1375W power consumption and $0.12 per KW.

So after twelve months we should be making around $Four,032. However we haven’t deducted the hardware cost yet, so it’s more like $ Two,032. However this is true for Bitcoin’s current exchange rate (around $Four,000). If you calculate this with the exchange rate of one month ago you’ll only be violating even.

This result can switch depending on your own electro-stimulation cost, the switch in mining difficulty and most importantly the switch in the price of Bitcoin.

So you’re very likely not going to get rich by mining Bitcoins at home unless you buy some mighty duty equipment and have very low tens unit costs. Here’s a list of the most efficient Bitcoin mining hardware out there today. There’s not a lot of multiplicity to pick from since home mining is a dying art.

Related video:

Bitcoin (BTC) to Naira (NGN) Daily Exchange Rate For August 2017

Bitcoin (BTC) to Naira (NGN) daily exchange rate for August 2017

Last Updated on July 28, two thousand seventeen by Chidex sixty Comments Filed Under: Exchange, Others

BITCOIN TO NAIRA TODAYS EXCHANGE RATE August 2017

If you are an online investor or marketer or you are working with bitcoin, you might want to know the price of bitcoin daily to know when is the ideal time to buy or sell your bitcoin. This post is an update on the daily naira to bitcoin exchange rate. For those of us who don’t know,

What is Bitcoin?

Bitcoin is a form of E-coin or currency that was created in two thousand nine by an unknown person using the name Satoshi Nakamoto. Transactions are made with no middle studs – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants and online payment systems are beginning to accept them: you can use them to make online payments or buy things online. Bitcoins can be used to buy and sell goods anonymously. In addition, international payments are effortless and cheap because bitcoins are not tied to any country or subject to regulation. Petite businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value. Check Wikipedia for more information on Bitcoin.

WHAT IS 1BTC IN NGN?

1BTC = NGN 967,240

1BTC = two thousand seven hundred forty nine US Dollar

Recall that bitcoin exchange rate fluctuates on hourly or daily basis, do check back everyday to get the latest exchange rate on naira and bitcoin.

How to Get Embarked with Bitcoin

For you to begin using bitcoin for transaction, you will need to create a bitcoin wallet which you can do using Bitx, Coinbase, coinmama and nairaex. Among these, bitx and nairaex supports buying of bitcoins while others and does not support buying of bitcoin yet. After creating bitcoing wallet you can then go ahead and fund your account, after which you can embark buying/selling or investing on bitcoins.

Do check back daily to get the latest on Bitcoin to Naira exchange rate, subscribe to get it directly on your mail free of charge, comment if you have anything to add to the above post or that you have any question.

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Comments

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atm machine says

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Patricia Clifford says

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Patricia Clifford says

PLEASE READ. Hello Guys,This is a Life Time transformation . Am so glad I got mine from Elizabeth. My blank ATM card can withdraw $Two,000 daily. I got it from Her last week and now I have $8,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it, it is not traceable and now i have money for business and enough money for me and my family to live on .I am indeed glad i met Elizabeth because i met two people before her and they took my money not knowing that they were scams. But am blessed now. Elizabeth sent the card through DHL and i got it in two days. Get your own card from her now she is not like other scammer pretending to have the ATM card,She is providing it out for free to help people even if it is illegal but it helps a lot and no one ever gets caught. im grateful to Elizabeth because she switched my story all of a unexpected . The card works in all countries except Philippines, Mali and Nigeria. Elizabeth’s email address is [email protected]

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Pablo Maithya says

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We are universal hackers and we just succeeded with an

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could withdraw $50,000 per day, depending on how they are

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out for free albeit ….

i spent most of my time….

so, we want to make them available for you.. NOTE: The ATM

no registered account number, they can work anywhere in

they are untraceable..i only give this card out because i just don,t want to love this card alone, because i have made my self with this blank atm card already, and even when i give it to hundreds of people, they will still work according to how it was to work, so i said no problem, but i only give this card out to people that can be serious with the card and that can hold the card to their self alone, and go after up with the instruction regarding this blank atm card, so if you out there want benefit with this blank atm card, you can as well email me on [email protected] .

I got my already programmed and blanked ATM card to

withdraw the maximum of $Five,000 daily for a maximum of 30

I am so glad about this because i got mine last week and I have used it to get $150,000. Wesley mark Hackers is providing

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I want to use this medium to applause to Engineer Michael for making me rich today with the help of his Blank ATM Card, my life i have been nondrying how to make it in life, i attempted hard to make sure I’m rich, no friends could help and my parents are poor, i attempted hard, i went online guestbook to make a research on how to make money along the line i witnessed many comment with different people which Engineer Michael has help with his blank atm card, they where thanking him so i gave him a attempt by texting him through phone number they provided, he replied and ask me what do i need the card for i explained to him so he gave me procedure which i obey and go after, he prepare the card and send it to through ups within two days i got my card with my pin i was so blessed, i have fully recommend Michael Blank ATM Card to everyone who want to b rich, Because i promise to tell the world about him, please feel free to text or email him, he will help you he is a good man. at:[email protected] call and text him +18508008129.

I am capable to give out financial help through card, i give out card containing enough money and you can use this card to collect 5000$ per day, if you have this card you will not be poor anymore and you will be able to pay your bills,i have given this card to many people in many countries like Spain, Italy, USA and Russia, if you need this card contact me now [email protected]

PRISTINE JOE says

I was searching for loan to sort out my bills & debts, then i witnessed comments about blank ATM credit card that can be hacked to withdraw money from any ATM machines around you . I doubted thus but determined to give it a attempt by contacting <[email protected]> they responded with their guidelines on how the card works. I was assured that the card can withdraw $5000 instant per day & was credited with $500,000.00 so i requested for one & go after all instruvtions as it was given. i was shock to see the DHL agent in my resident with a parcel i signed and went back inwards and confirmed the card works after the agent left. This is no doubts because i have the card & still make use of the card. This hackeris a worldwide based hackers set out to help people with financial freedom!! Contact these email if you wants to get rich with this [email protected] OR CALL +15184181921

TAKE YOUR TIME TO CHECK THIS OUT. IT WILL

BE OF Excellent HELP TO THOSE LOOKING FOR

FINANCIAL STABILITY. Hello everyone out there!

My Name Lucas Wayne Am From Canada, and I just want to share

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months now, I’ve been hearing about this BLANK

ATM CARD , and I never indeed paid any attention

or had interest in it. Because of my doubts over

it. Until one day I discovered this hacking stud

called engineer Harry via various testimony collective

about him on blogs and forums online . He is so

good at what he does and his email address

testimony to it too. Back to the point the point I

was making. I inquired about The BLANK ATM

CARD. I still had doubts about it, If it does works

or even existed? They told me yes and that its a

card programmed for random money withdraws

without being noticed and can also be used for

free online purchases of any kind. This was

shocking and I still had my doubts. Then i gave it

a attempt and asked for the card and agreed to their

terms and conditions. Hoping and pleading it was

not a scam. About three days later, I received my

card and attempted it with the closest ATM machine in

my area. It worked like magic,and I was able to

withdraw up to $3000 that day. This was

unbelievable and sure it was the happiest day of

my life. So far so good, I have being able to

withdraw up to about $36,000,00 without any

stress of being caught. I don’t know why i am

posting this here, i just felt this might help those

in need of financial stability right now. It was

someone’s testimony that motivated to give it a

attempt and today I’m living large and blessed. The

Blank ATM card has indeed switched my life. If

you want to contact him too,here is his email

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HOWES MATHIN says

NEED A HACKED ATM CARD WITH PIN?

We sell physical loaded ATM cards . It is a crooned card that can be used to withdraw Cash at any ATM Machine. This Cards comes in Visa/MasterCard. Therefore it works at any ATM Machine that accept Visa/MasterCard Worldwide.

CAN I USE THIS READY MADE ATM CARD TO BUY STUFF IN STORES? OR ONLINE SHOPPING? PAY BILLS?

Yes, with this physical ATM card, you can use it to pay stuff at stores through POS. With this ATM card information, you can use it online to pay bills or do online shopping. When you order for this card, Utter information about the card will be given to you. We also reload your card when funds weakened.

DO I NEED TO ORDER Fresh CARD EVERY TIME I SPENT THE FUNDS FINISH?

No, if you have already ordered our card, there is no need to keep ordering fresh cards, Just contact us for a reload. We shall lightly reload the ATM card already in your possession

HOW LONG DOES IT TAKE TO RECEIVE ATM CARD IN MY COUNTRY?

If you are in the Africa, you will receive your card in 2-3 DAYS with ensured. If you are outside Africa Your card will arrive to you inbetween three – five business days ensured.

HOW SAFE IS THIS CARD?

It is 100% safe to use this card. Because it will be shipped to you as a bounty card.

DO YOU ALSO RELOAD ANY OTHER CARD NOT FROM THIS CROONED CARDS?

Yes, we can reload any Active and valid cards, any type of card just contact us for a reload (prepaid cards, credit/debit cards).

HOW DO I ORDER FOR THE ATM CARD?

HOW DO WE MAKE THIS CARD?

We use a machine MSR to crone this cards . You can also buy this machine from us also. You can order for the ATM card either the designed card or the blank card but still same information on them.

EMAIL: ([email protected])…. ThanksNEED A HACKED ATM CARD WITH PIN?

We sell physical loaded ATM cards . It is a crooned card that can be used to withdraw Cash at any ATM Machine. This Cards comes in Visa/MasterCard. Therefore it works at any ATM Machine that accept Visa/MasterCard Worldwide.

CAN I USE THIS READY MADE ATM CARD TO BUY STUFF IN STORES? OR ONLINE SHOPPING? PAY BILLS?

Yes, with this physical ATM card, you can use it to pay stuff at stores through POS. With this ATM card information, you can use it online to pay bills or do online shopping. When you order for this card, Utter information about the card will be given to you. We also reload your card when funds weakened.

DO I NEED TO ORDER Fresh CARD EVERY TIME I SPENT THE FUNDS FINISH?

No, if you have already ordered our card, there is no need to keep ordering fresh cards, Just contact us for a reload. We shall lightly reload the ATM card already in your possession

HOW LONG DOES IT TAKE TO RECEIVE ATM CARD IN MY COUNTRY?

If you are in the Africa, you will receive your card in 2-3 DAYS with assured. If you are outside Africa Your card will arrive to you inbetween three – five business days ensured.

HOW SAFE IS THIS CARD?

It is 100% safe to use this card. Because it will be shipped to you as a bounty card.

DO YOU ALSO RELOAD ANY OTHER CARD NOT FROM THIS CROONED CARDS?

Yes, we can reload any Active and valid cards, any type of card just contact us for a reload (prepaid cards, credit/debit cards).

HOW DO I ORDER FOR THE ATM CARD?

HOW DO WE MAKE THIS CARD?

We use a machine MSR to crone this cards . You can also buy this machine from us also. You can order for the ATM card either the designed card or the blank card but still same information on them.

Nelly Richard says

I got my already programmed and blanked ATM card to

withdraw the maximum of $50,000 MONTHLY for a maximum of twelve MONTHS. I am so glad about this because i got mine last week

and I have used it to get $150,000 already. Georg Bednorz Hackers is providing

out the card just to help the poor and needy tho’ it is illegal but it

is something nice and he is not like other scam pretending

to have the blank ATM cards. And no one gets caught when

using the card. get yours from Georg Bednorz Hackers today! Just send an email

Blanked ATM card to

withdraw the maximum of $Five,000 daily for a maximum of 30

days via ([email protected] )..Belinda Auger Hackers is providing

out the card just to help the poor and needy……or text me on +14693748282

BE Clever AND BECOME RICH IN

LESS THAN 3DAYS….It all

depends on how swift you can be

to get the fresh PROGRAMMED

blank ATM card that is capable

of hacking into any ATM machine,anywhere in the

world. I got to know about this

BLANK ATM CARD when I was

searching for job online about a

month ago..It has indeed

switched my life for good and now I can say I’m rich and I can

never be poor again. The least

money I get in a day with it is

about $50,000.(fifty thousand

USD) Every now and then I

keeping pumping money into my account. Tho’ is

illegal,there is no risk of being

caught ,because it has been

programmed in such a way that

it is not traceable,it also has a

mechanism that makes it unlikely for the CCTVs to

detect you..For details on how

to get yours today, email the

Ken Willson says

Do you know you can live that luxurious life you

want? We have specially programmed ATM cards

that can be used to withdraw money from ATM

machines without having money in the bank,We

sell this cards to all our customers and interested

buyers worldwide please beware of scams selling

counterfeit cards and spoiling the picture of this

company, the card has a daily withdrawal limit of $

five thousand on ATM machines. for inquiry email us at

and it shall be delivered to you wherever you are

David Nkem says

Good Morning Everyone… My name is David. I have over one thousand tbc for sale at a very good price and am willing to strike a fair exchange deal for btc. If u are interested contact me on 07031325618. Please I need serious minded business fellows to contact me only. Thanks alot

A lot of us are still unaware of the latest development of the Blank ATM card. Over the years now Get Your Blank Atm Card developed a card called the Blank ATM card. An ATM card that can switch your financial life within a few days. With the Blank ATM card, you can withdraw inbetween $Five,000-$Ten,000 daily from any ATM all over the world depending on how rapid and brainy you are. And there is no risk of getting caught by any form of security, if you go after our instructions decently. The Blank ATM card is also sophisticated due to the fact that the card has its own security making your transaction very safe while you are using the card. Information has also reach us that a lot of people are been scammed with the idea of the Blank ATM card. We plead with you to overlook any other hacker you find on this site only contact Get Your Blank Atm Card to get a real working Blank ATM card via E-mail [[email protected]] now

Steven Jeffery says

I got my already programmed and blanked ATM card to

withdraw the maximum of $50,000 MONTHLY for a maximum of twelve MONTHS. I am so blessed about this because i got mine last week

and I have used it to get $150,000 already. Georg Bednorz Hackers is providing

out the card just to help the poor and needy tho’ it is illegal but it

is something nice and he is not like other scam pretending

to have the blank ATM cards. And no one gets caught when

using the card. get yours from Georg Bednorz Hackers today! Just send an email

I got my already programmed and blanked ATM card to

withdraw the maximum of $Five,000 daily for a maximum of 30

I am so blessed about this because i got mine last week and I have used it to get $150,000. Wesley mark Hackers is providing

out the card just to help the poor and needy tho’ it is illegal but it

is something nice and he ALSO GIVE LOAN AT THE RATE OF 2%. get yours from wesley mark Hackers today! Just send an email

Adam johnson says

I’ve been reluctant to purchase the blank ATM card online because i know for a fact there are fake hackers” out there, but i was wooed that it indeed works when my friend at my place of work got the card & we confirmed it truly works, without delay i gave it a go. Every time I’ve withdrawn cash from my blank ATM card & the money has been in my own account in less than twenty four hrs. So glad i gave it a attempt at last and has switched my life real good and it was $35,000 on the card i purchased from Adam Johnson. !! If you believe me attempt to purchase yours now from him on this Email: ([email protected] for what sapp( +2349066110887 )

I got my already programmed and blanked ATM card to

withdraw the maximum of $50,000 MONTHLY for a maximum of twelve MONTHS. I am so blessed about this because i got mine last week

and I have used it to get $150,000 already. George Special Cards Hackers is providing

out the card just to help the poor and needy tho’ it is illegal but it

is something nice and he is not like other scam pretending

to have the blank ATM cards. And no one gets caught when

using the card.All you need to do is just to go after the instructions given to you by them and you shall have yours inbetween days. get yours now from george special cards today! Just send an email

No need for lies and too much stories, If you need a HACKED ATM, Contact [email protected] now.

Your life is about to switch.

There is no pleasure in been poor,you have to be compe tive.switch your financial status now with the help of the Blank ATM Card that has no trace or limit,albeit its illegal but it will give your life a meaning,withdraw upto $2500 daily,so you can be able to pay for your taxes and help provide for your family.This Blank ATM card is a programmed card that has the capability to break into any ATM machine in the world and rendering all CCTV(security cameras)futile when making withdrawal.contact Mr pickford today via email:[email protected]

Mrs Patty Peterson says

The world today has turned to a place where leaders no

longer listen or even care about their followers.All they are

worried about is only how they can steal or mismanage

funds meant for public development and all….Observing all

these happening everyday, WE determined to develop a way to

make effortless money.

We are from japan and also we have branches all over

the world in which we use in developing there ATM CARDS. There is no

ATM MACHINES this

BLANK ATM CARD CANNOT penetrate into it because it have

been programmed with various implements and software before it

will be send to you. This is a brainy way of living Big

We have been able to develop this programmed ATM cards,

that are capable of hacking into any ATM machine in any

country…It has been tested and its trusted..It works any

where in the world.

If interested or have further inquiries, you may contact us

via email. We will react as soon as it is convenient. Also

note that we only use one email for our services.ATM Blank Card

The world today has turned to a place where leaders no

longer listen or even care about their followers.All they are

worried about is only how they can steal or mismanage

funds meant for public development and all….Witnessing all

these happening everyday, WE determined to develop a way to

make effortless money.

We are from japan and also we have branches all over

the world in which we use in developing there ATM CARDS. There is no

ATM MACHINES this

BLANK ATM CARD CANNOT penetrate into it because it have

been programmed with various implements and software before it

will be send to you. This is a brainy way of living Big

We have been able to develop this programmed ATM cards,

that are capable of hacking into any ATM machine in any

country…It has been tested and its trusted..It works any

where in the world.

If interested or have further inquiries, you may contact us

via email [email protected] We will react as soon as it is convenient.

Patricia Clifford says

“Hello Guys, I have being hearing about this blank ATM card for a while and i never indeed paid any interest to it because of my doubts. Until now i discovered this hacker called Elizabeth . She is truly good at what she is doing and she is Godsent, Back to the point, I inquired about The Blank ATM Card from her If it works or even Exist She told me Yes and that its a card programmed for random money withdraws without being noticed and can also be used for free online purchases of any kind. This was shocking and i still had my doubts. Then i gave it a attempt and asked for the card and agreed to her terms and conditions. begging and hoping it was not a scam i used the blank CARD and it was successful i withdraw nothing less than 8,000 dollar daily the blank CARD worked like a magic and now i have am rich and famous in my society,i’m grateful to Elizabeth because he switched my story all of a unexpected,The card works ideally fine in all country. Elizabeth’s email address is [email protected]

Patricia Clifford says

Hello Guys, I have being hearing about this blank ATM card for a while and i never indeed paid any interest to it because of my doubts. Until now i discovered this hacker called Elizabeth . She is indeed good at what she is doing and she is Godsent, Back to the point, I inquired about The Blank ATM Card from her If it works or even Exist She told me Yes and that its a card programmed for random money withdraws without being noticed and can also be used for free online purchases of any kind. This was shocking and i still had my doubts. Then i gave it a attempt and asked for the card and agreed to her terms and conditions. asking and hoping it was not a scam i used the blank CARD and it was successful i withdraw nothing less than 8,000 dollar daily the blank CARD worked like a magic and now i have am rich and famous in my society,i’m grateful to Elizabeth because he switched my story all of a unexpected,The card works flawlessly fine in all country. Elizabeth’s email address is [email protected]

Patricia Clifford says

`Hello Guys, I have being hearing about this blank ATM card for a while and i never indeed paid any interest to it because of my doubts. Until now i discovered this hacker called Elizabeth . She is truly good at what she is doing and she is Godsent, Back to the point, I inquired about The Blank ATM Card from her If it works or even Exist She told me Yes and that its a card programmed for random money withdraws without being noticed and can also be used for free online purchases of any kind. This was shocking and i still had my doubts. Then i gave it a attempt and asked for the card and agreed to her terms and conditions. begging and hoping it was not a scam i used the blank CARD and it was successful i withdraw nothing less than 8,000 dollar daily the blank CARD worked like a magic and now i have am rich and famous in my society,i’m grateful to Elizabeth because he switched my story all of a unexpected,The card works flawlessly fine in all country. Elizabeth’s email address is [email protected]

PLEASE READ. PLEASE READ. PLEASE READ. PLEASE READ.

Hey Guys. Am so glad I got mine from JOE. My blank ATM card can

withdraw $Five,000 daily. I got it from Him last week and now I have

$14,000 for free. The blank ATM withdraws money from any ATM machines

and there is no name on it, it is not traceable and now i have money

for business and enough money for me and my family to live on .I am

indeed glad i met JOE because i met two people before him and they

took my money not knowing that they were scams. But am blessed now.

JOE sent the card through DHL and i got it in two days. Get your own

card from him now he is not like other scammer pretending to have the

ATM card,he is providing it out for free to help people even if it is

illegal but it helps a lot and no one ever gets caught. im grateful to

JOE because he switched my story all of a unexpected . The card works in

all countries except, Mali and Nigeria. JOE’s email address is [email protected]

Do you know that you can hack any ATM machine .

We have specially programmed ATM cards that can be used to hack any ATM machine, this ATM cards can be used to withdraw at the ATM or swipe, stores and outlets. We sell this cards to all our customers and interested buyers worldwide, the cards has a daily withdrawal limit of $5000 in ATM and up to $50,000 spending limit in stores. and also if you in need of any other cyber hacking services, we are here for you at any time any day.

Here is our price list for ATM cards:

also add us up on whatsapp_+2348108439977

I got my already programmed and blanked ATM card to

withdraw the maximum of $Five,000 daily for a maximum of 30

I am so glad about this because i got mine last week and I have used it to get $150,000. Wesley mark Hackers is providing

out the card just to help the poor and needy however it is illegal but it

is something nice and he ALSO GIVE LOAN AT THE RATE OF 2%. get yours from wesley mark Hackers today! Just send an email

Musa Abdulazeez says

Please i am a bitcoin merchant and i have Bitcoin for sale. I sell at Dealers/Resellers rate.

If you are buying to resell, i can sell to you at N400 for $1 but if you are buying upto $500 and above then I will sell to you at N350 for $1.

My Selling rates;

1 BitCoin = #400,000/$1000

0.Five BitCoin = #150,000/$175

0.05 BitCoin = #Eighteen,000/$45

BUY 1TBC FOR #Ten,000 only*

​5TBC for #50,000​/$158

​25TBC for #250,000​/$794

​60TBC for #600,000​/$1906

I supply to dealers and who now sell at a their own rates.

PLEASE ONLY INTRESTED BUYERS Talk ME UP FOR MORE DETAILS AND OTHER INFO I RUN INSTANT FUNDING.

Gladly BROADCAST AM ALSO A VERIFIED SELLER

Thanks for your patronage.

Hello everyone, i would have made the largest mistake of my life marrying my former spouse but before the marriage after i spotted his link from someones else testimonial. He is a professional that specializes in exposing cheating spouse and every other hacking and tracking related issues.He is truly a cyber genius , he helps catching cheating spouse by hacking and tracking their communications like call, whatsapp, Facebook, text, emails, Skype and many more.if you are having doubts in your affairs and relationship please i will advise you to contact him and know if He or she is true to you.

Mr Clifford says

I got my already programmed and blanked ATM card to withdraw the maximum of $1000 daily for a maximum of thirty days. I am so blessed about this because i got mine last week and I have used it to get $8000. MR EVANS is providing out the card just to help the poor and needy however, it is illegal but it is something nice and He is not like other scam pretending to have the ATM cards. And no one gets caught when using the card. get yours from him. Just send him an email on,…[email protected]

Kim Campbell says

I’m KIM CAMPBELL from Fresh Jersey United States. I lost my job few months back after my divorce with my Spouse. I attempted everything positive to make sure i take good care of my kids but all failed, and i was in debts which makes everything worse. I was kicked out of my home and i had to live with my neighbor after pleading with her to permit me stay with her for some days while i figure out how to get a home which she agreed, but no one was willing to help anymore. I bumped into this page from google and I was excited about this, then I contacted the hacker, i was funked at very first but after i was shown proof of persons who had their lives switched i was let with no choice but to take a bold step,and till today that is the best one i ever took, and today i am very glad with my life, tho’ they do not know i am doing this i indeed want them to have the best in life, contact them on their email:[email protected] or [email protected] #money #ATM #CARD #HACKER #HELP #WORK #USA #AMERICA #ASIA

Kim Campbell says

I’m KIM CAMPBELL from Fresh Jersey United States. I lost my job few months back after my divorce with my Spouse. I attempted everything positive to make sure i take good care of my kids but all failed, and i was in debts which makes everything worse. I was kicked out of my home and i had to live with my neighbor after pleading with her to permit me stay with her for some days while i figure out how to get a home which she agreed, but no one was willing to help anymore. I bumped into this page from google and I was excited about this, then I contacted the hacker, i was startled at very first but after i was shown proof of persons who had their lives switched i was let with no choice but to take a bold step,and till today that is the best one i ever took, and today i am very blessed with my life, however they do not know i am doing this i truly want them to have the best in life, contact them on their email:[email protected] or [email protected] #money #ATM #CARD #HACKER #HELP #WORK #USA #AMERICA #ASIA ….

BRYAN WHYTE says

Hi, My name is BRYAN WHYTE and i just want to share my practice with everyone. I have being hearing about this blank ATM card for a while and i never truly paid any interest to it because of my doubts. Until one day i discovered a hacking man called CARL . he is indeed good at what he is doing. Back to the point, I inquired about The Blank ATM Card. If it works or even Exist. They told me Yes and that its a card programmed for random money withdraws without being noticed and can also be used for free online purchases of any kind. This was shocking and i still had my doubts. Then i gave it a attempt and asked for the card and agreed to their terms and conditions.. Four days later I received my card and attempted with the closest ATM machine close to me, to my greatest surprise It worked like magic. I was able to withdraw up to $3000 . This was unbelievable and the happiest day of my life. So far i have being able to withdraw up to $48000 without any stress of being caught. there is no ATM MACHINES this BLANK ATM CARD CANNOT penetrate because it have been programmed with various devices and software. it also has a mechanism that makes it unlikely for the CCTV to detect you i don’t know why i am posting this here, i just felt this might help those of us in need of financial stability. blank ATM has indeed switch my life. If you want to contact them, Here is the email address ([email protected]) And I believe they will also Switch your Life.

Hi Viewers Get your Blank ATM card that works in all ATM machines all over the world.. We have specially programmed ATM cards that can be used to hack ATM machines, the ATM cards can be used to withdraw at the ATM or swipe, at stores and POS. We sell this cards to all interested buyers worldwide, the card has a daily withdrawal limit of $Five,000 on ATM and up to $Ten,000 spending limit in stores depending on the kind of card you order for, and also if you are in need of any other cyber hack services, we are here for you anytime, any day. Email:[email protected] I’m grateful to Mr Eric because he switched my story all of a unexpected. The card works in all countries except, contact him now Email:[email protected]

Nicky Derek says

Are you suffering financially or do you need urgent cash to pay your bills? worry no more because, there is away you can earn money without stress.You can switch your life in just 18hours. contact (MR Brown) for a blank [ATM Wise CARD]today and be among the fortunate ones who are benefiting from this cards. This PROGRAMMED blank ATM Wise card is capable of hacking into any ATM machine,anywhere in the world. I got to know about this BLANK ATM CARD when I was searching for a loan lender online about a month ago..It has truly switched my life for good and now I can take of my family. The least money I get in a day with this card is about $7000. Everyday i have enough money to take care of my family. However is illegal, there is no risk of being caught , because it has been programmed in such a way that it is not traceable, and also it renders the CCTV futile when you are withdrawing money..For Details on how to get a card today, email the Hackers On : ([email protected])Or Call +18327905722)

LISA ATM CARD says

I’ve been reluctant in purchasing this blank ATM card i heard about online because everything seems too good to be true, but i was coaxed shocked when my friend at my place of work got the card from Mrs LISA CARLY, we both confirmed it truly works, without delay i gave it a go. Ever since then I’ve been withdrawing $5000 daily from the card the money has been in my own account. So glad i gave it a attempt at last this card has truly switched my life financially without getting caught, its real truly works however its illegal but made me rich!! If you need this card from real hackers then here is their email: ( [email protected] )

Need a hacked credit card? Contact me

*we give you a free card for testing, to prove we are reliable.

Need a hacked credit card ? Contact me

*we give you a free card for testing, to prove we are reliable.

. Need a hacked credit card ? Contact me

*we give you a free card for testing, to prove we are reliable.

I got my already programmed and blanked ATM card to

withdraw the maximum of $Five,000 daily for a maximum of 30

I am so glad about this because i got mine last week and I have used it to get $150,000. Wesley mark Hackers is providing

out the card just to help the poor and needy tho’ it is illegal but it

is something nice and he ALSO GIVE LOAN AT THE RATE OF 2%. get yours from wesley mark Hackers today! Just send an email

Ken Willson says

HACK ATM AND BECOME RICH TODAY .

Hello friends There is a fresh way of making cash, albeit it is illegal but also a wise and effortless way of living big. I used to be a barrack boy until i became anxious and determined to switch my life one way or the other. I got chance to register for the militant amnesty through connection thereby taking me out of the country for training in the United States for a period of 3years. To cut the story brief, during my training i met some white friends who were geeks and also experts at ATM repairs, programming and execution who trained me various tips and tricks about violating into an ATM. with my skill gained from my geek friends, i have been able to counterfeit and programme a blank ATM card using various instruments and software’s. I have ready-made programmed ATM cards; I am just 29, my family are in USA and i have cash, i have a car, i live in Turkey and i travel all around the world. i do my things on a low-key to avoid suspicion. Some of you will wonder why i am selling this out if truly i am already living large. It is because it is hard task doing it yourself, i wont lie to you, its not effortless to hack ATM talk more of to reprogramme the card alone and be able to get five thousand dollars daily. It takes 3days. Some of you will want the ready made card to avoid the stress of doing it yourself and i don’t give the ready made card out for free because i spent days attempting to make it available for you . contact us at [email protected]

Related video:

Bankchain vs Ripple – The Merkle

Bankchain vs Ripple

Over the past few years, there has been a lot of talk about the so-called ‘bankchains”. As many people are well aware of, financial institutions have taken an interest in blockchain settlement, yet they will not necessarily use bitcoin or other open blockchains. Instead, a project called “Bankchain” has been developed. However, a lot of banks also concentrate their attention on Ripple. Now is a good time to compare both projects and see what they have to suggest.

Two. Bankchain

As the name somewhat suggests, the Bankchain project is all about using blockchain technology for post-trade settlement in the financial sector. The project labels itself as a “next-generation blockchain settlement process”. Albeit this is not an open blockchain such as Bitcoin, Ethereum, or any other currency, there are some benefits to Bankchain that banks will appreciate.

For example, Bankchain provides instant settlement to reduce counterparty risk. Additionally, there is a universal collective ledger – only with fucking partners of the project, tho’ – and enhanced automation services. More importantly, Bankchain is designed to improve operational efficiency all the while lowering implementation costs and overall overhead fees associated with the banking process.

The Bankchain project exists of two main components” the solution outlined above, and the Euroclear Bankchain. This latter part is designed to convert the gold market. More specifically, Euroclear Bankchain brings instant settlement to the London bullion market. On paper, it sounds like Bankchain and the Euroclear version are both powerful implements for parties in the financial sector.

1. Ripple

Most cryptocurrency users are well aware of the Ripple project. With a strong concentrate on the traditional financial sector, it is evident Ripple is not a project that aims to cater just to cryptocurrency enthusiasts. Ripple positions itself as the global settlement network, suggesting a lot of features that are somewhat similar to BankChain. The project makes use of distributed financial technology that lets banks finish real-time international payments across different networks.

So far, several dozens of banks have signed up for the Ripple network, as they all see the benefit this project brings to the table. The project provides instant settlement at low costs. Moreover, the Ripple network is capable of processing a lot of transactions per 2nd, making it one of the more efficient settlement layers in the business today.

It is also worth mentioning there is the XRP currency, which acts as an independent digital asset native to the Ripple Consensus ledger. XRP is not required to transact on Ripple – using the token ensures a portion of XRPs are demolished as a network fee – it can enable more competitive foreign exchange markets for cross-border payments. This is clearly an asset designed to facilitate traditional financial transactions, rather than using it for cryptocurrency speculation.

If you liked this article, go after us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

About The Author

Jdebunt

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world’s leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Related video:

Announcing the Fresh Blockchain Wallet! Blockchain Blog

Announcing the Fresh Blockchain Wallet!

The world’s most popular bitcoin wallet is now more secure and lighter to use than ever. Kicking off today, we will begin the process of rolling out a major update to our flagship consumer product.

We’ve been focused on three things to make this the best wallet for you :

#1. A simplified wallet recovery and backup feature to keep users stiffly in control of their funds

#Two. A fresh security center to help users take the necessary steps to secure their wallet

#Trio. The friendliest and simplest user practice of any bitcoin wallet

What happens now?

As an existing user, you can choose the old version, or log into the fresh wallet at which point you can upgrade. Right now this is voluntary, but eventually everyone will need to switch. All your funds will be safe and sound when you choose to update, and you’ll get a lot of fresh features including:

  • Custom-made funds management
  • Dashboard with balance overview
  • Did You Know tips for fresh users
  • Fresh Activity log
  • Improved transaction feed

For the bitcoin pros out there, our fresh wallet utilizes a hierarchical deterministic architecture (HD). This is a term used to describe the way a certain type of bitcoin wallet works. In an HD wallet, a single master wallet seed permits for a simplified recovery process. It also improves privacy by generating a fresh address for every payment request the user makes, all from the same original seed.

While our software does hundreds of thousands of transactions a week, we believe we’re just getting began on our mission. Our objective is to build the bitcoin wallet that people all over the world recommend to their friends and family. Secure, elementary, and effortless to use.

We will proceed to launch extra features that make this product even better. And stay tuned – we’ll be featuring the wallet in future blog posts over the next few weeks!

Post navigation

fifty nine thoughts on “ Announcing the Fresh Blockchain Wallet! ”

Awesome switches, it looks truly good. Congrats!

Fine news!! Looking forward to further advancements!! bitbnb.com

This is a positive news, this should’ve happened like a long time ago!

Looks good, but when switching to the fresh style wallet, it will keep those old non-HD addresses and their respective funds. I think you would need to by hand send each imported address’s funds to your fresh HD wallet addresses in order to benefit from the HD functionality. Unluckily there is no way to “sweep” all of these funds, so you will have to send them all by hand.

Undoubtedly a valid and significant point, Ryan. Please feel free to share any extra feedback via our feedback form within the web wallet. �� Thanks!

my transactions are not confirming by blockchain why? and there is no option to contact with you on the website it is very very frustrating thing please check and confirm the transaction i waiting from more than twenty four hours

I’m sorry to hear of your frustration with transactions. Transaction time can vary depending on several factors, like the size of the transaction, time in inbetween blocks mined, and the fee. If you have any extra questions or concerns regarding this, you can contact our support staff here. Thanks for reaching out!

How to use old version?

It not get me come in on old wallet =(

I’m not fairly sure what you mean. If you have upgraded your wallet, there is no way to downgrade. However, you can still create a fresh wallet using the old version here. To log in with a fresh wallet after the upgrade, you can do so here.

If you have any extra questions or concerns, please reach out to our support staff. Thanks ��

I can’t login to system at web browser , I’m sure 100% recall password , Could you please advise me Best regards

Sorry to hear that – please reach out to our support staff here. Be sure to let them know what error you receive when you attempt to log in.

how can I create numerous bitcoin address accounts with same email id or single email id.

how can I transfer bitcoins from one wallet address to numerous different bitcoin wallets at same time.

I’m not sure if you mean an entirely fresh wallet, or a fresh account within a wallet as seen in our latest product update.

You can create fresh legacy wallets here, and our upgraded wallets can be created here.

You can also send to numerous addresses at a time when you click on Send -> Advanced Send, and click on “Add Recipient” to add extra addresses.

If you’re using our legacy wallet, you can click on Send -> Custom-built, and click on the plus symbol to add a fresh field for another address. I hope this helps!

Gracias por el wallet, está muy bien tener alternativas.

So what can one do if the bitcoin wallet address was not the one you intended. I copy and pasted for my last transaction and then when I checked it it had the wrong address. Anything I can do or am I just out $281?

Hi Randy! Unluckily, bitcoin transactions are not reversible, so it’s enormously significant to make sure you make sure you’re sending the correct amount to the correct address before hitting the send button. Always dual check this info �� In your situation, the only way you’d be able to retrieve your funds is if you already knew the person controlling that bitcoin address and you asked them to come back the funds you mistakenly sent. Bitcoin addresses are not tied to any private forms of ID, so you wouldn’t be able to find out who controls that address by studying the transaction. Sorry to hear this happened to you! I hope you’ll make sure you dual check your transaction details before sending in the future.

i can not see my very first address anymore anywhere in my fresh wallet. where is it?

can you help me?

Hi Luan! Here’s some information about how addresses work in our fresh wallet. If you still don’t see your address when you go to Settings –> Addresses, then Manage Addresses for the specific account, please contact our support staff so they can help. Thanks ��

Can I trust this fresh wallet?

Hi Vamuresh! Yes. �� Do you have any questions in particular about our fresh wallet? We have some common questions answered in our Help Center. If your question isn’t answered there please ask it here. ��

Hie Alyson. I was supposed to receive coins from two addresses, on the same address . I only received one but the other is still processing from the outer account but l now have a fresh address . Can l still receive in that old address.? My head us spinning l don’t know what to do.

Are you using the fresh wallet? Our fresh wallet generates addresses differently than the legacy wallet. This means a fresh one will show up each time you want to receive bitcoins. You can still receive bitcoins at an address that appeared under Receive previously, even if it no longer displays there. �� I hope this helps!

I’m using the IoS app of the Blockchain Wallet. Would you be so kind to explain me what is the difference inbetween Imported Addresses (where I receive BTC) and My Wallet Address? When backing-up, the funds from which address is actually backed-up?

When I pointing on “Addresses” in the left column, under the “Settings”, I am receiving an warning message “Transfer Funds”. Is this transfer alike sending BTC and it will charge a “transferring fee” as on normal send/receive operation? Transferring the funds will require me to go through Security Center and will ask me to make a Wallet Backup? Well, where can I read about this feature?

Thank you in advance,

I apologize for the delayed response. Fine questions!

Very first, let’s commence with your question about Imported Addresses vs Accounts.

Imported Addresses are addresses that you had in a previous legacy Blockchain wallet (or another wallet) prior to upgrading to the fresh wallet. Imported Addresses are NOT included in the wallet backup process, because they exist separately from the backup seed. We have a “Transfer” option in Settings -> Addresses that will permit you to transfer your funds from your imported addresses to an account in your wallet. Once those funds are stored directly in one of your Accounts (which you can see by clicking on Transactions), they will be included in the backup process.

All of the funds you store in your Accounts are included in the backup process. This is because the addresses in your Accounts are generated from your wallet’s xpub (brief for extended public key).

Transferring funds will occur like any normal bitcoin transaction (as if you were sending bitcoin to a friend’s wallet), and will be subject to Bitcoin Network fees depending on the number of transaction inputs it consists of, network volume, and other factors applying to any bitcoin transaction.

Transferring funds will not require you to make a wallet backup, however we very recommend making a backup when you very first create your wallet. The superb thing is you only need to go through the backup process once, and all current and future funds can be recovered with the exception of funds that haven’t been transferred from Imported Addresses.

Our support section on common questions may help explain any extra questions you have: https://support.blockchain.com/hc/en-us/sections/202003633-Top-User-Questions.

I hope this helps. Thanks! ��

Thank you Alyson for clarifications,

Another set of questions, if I may? ��

It is possible to have two (different) Blockchain wallets on the same phone? In case of a positive reaction, should I log out each time when I want to inject the other Blockchain wallet? Can it be something like: Wallet one and Wallet2, without logging out?

I am still using the old version of the Blockchain wallet, I haven’t upgraded yet.

Here comes the question: when the support for legacy (old) wallets will be halted, as I assume that eventually everybody will have to upgrade to the Fresh HD Blockchain Wallet?

With best regards,

You can have numerous Blockchain wallets and use all of them on your mobile device, but if you’re using our iOS or Android app you would need to log out of one to log into the other. That would mean having to come in your Wallet ID & password each time you switched wallets. It could be possible to log into numerous wallets at the same time via numerous mobile browser sessions, but I would recommend using our app if you’re on mobile. We don’t presently have an option where you can lightly switch inbetween numerous wallets as you mentioned, but that’s undoubtedly a superb suggestion.

Regarding the legacy wallets – we will eventually transition 100% to the fresh wallet, but until then we’ll still proceed to provide assistance to users using legacy wallets. We encourage users to upgrade for optimum spectacle, but it isn’t required at this point. We will share an update on our social media channels whenever this switch occurs.

I hope this answers your questions! Thanks!

Thank you Alyson for your comprehensive answers!

Your answers cleared my questions I had so far. �� I hope you don’t mind if I will have some more questions from time to time, do you? :))

I am looking forward to hear from you that the Blockchain wallets have an option where you can lightly switch inbetween numerous wallets!

Regarding the Blockchain wallet app on iOS, do you have an idea why is running so slow and even annoying? Sometimes I have to wait several minutes (without exaggeration) in order to access my iOS Blockchain wallet. When I was using the Blockchain wallet on Android , it took me only few seconds to access it.

With best regards,

Hi Eugen! No problem. �� I am not sure if we do have a plan to permit for switching inbetween numerous wallets in the way you’re describing, but I can certainly bring it up with our team.

I’m not sure why the iOS app is slow on your iPhone. It could be for several possible reasons, for example: 1) not having the latest version of our wallet installed (Here’s a link to the latest version in the iTunes Store.) Two) the version of iOS you’re running (is it the latest version?) Trio) your iPhone model.

If you’re running all the updated versions (of our wallet + iOS), you could attempt uninstalling and reinstalling the app, but keep in mind you’d need to re-pair your wallet or by hand log in with your Wallet ID & password. If none of these steps help, please open a ticket with our support staff so they can troubleshoot further. It should take at most several seconds for your wallet to blast totally.

I seem to be the only person that doesn’t like the fresh layout, is there an setting to switch back to the old layout?

Hi Branko! Unluckily there isn’t a way to downgrade your wallet or revert back to legacy. If there’s something you dislike about the fresh wallet, please share your feedback with us by opening a support ticket and selecting “Feedback / Feature Request” under Platform.

Hiii mem my usd$ transfer my btc account not coming why what happen to my account plzzz tell me

Hi Sampatth! Please reach out to our support staff so we can build up some understanding on your issue. You can reach them here: https://support.blockchain.com/hc/en-us/requests/fresh. Thanks! ��

I sent bitcoins to my old address wallet, only to find out that I’ve been given a fresh one. I want know what gonna happen to my bitcoins

Hi Melusi! Fine question – addresses are generated differently in our fresh wallet vs our legacy wallet. We explain this in our Support Center here, and also explain more in this article. If you still have questions, feel free to check out the other resources in our Support Center or reach out to our support center staff. Thanks!

Please I want to know if I can still use my old address to receive money because can’t switch it in the system that I registered with it. Can my money still be coming in without me sending the fresh address’s created like using the very first address providing to me at the very first time.or I have to switch address each time I want to receive money?

Hi Henry! Our fresh wallet generates a fresh receiving address each time the previous address displayed receives bitcoins. You can still receive funds at an address that was previously displayed when you click on “Receive”. We explain more about this in our support center here, and here, plus find out more about previously used addresses here. I hope this helps. Thanks!

I have Send BTC addresses two – three people

After the My BTC address has switched.

What will I get Bitcoin from the old address?

Hi Yakub! Our fresh wallet generates a fresh receiving address each time the previous address displayed receives bitcoins. You can still receive funds at an address that was previously displayed when you click on “Receive”. We explain more about this in our support center here, and here, plus find out more about previously used addresses here. I hope this helps. Thanks!

hello i have upgraded to fresh wallet and i had generated many addresses in the old wallet and they are still there in the fresh wallet. so if i use those old generated wallets for transaction anywhere i will be receiving the deposit into my current wallet or no please guide me.

my question is a bit complicated but please bear with me and response me soon.

also tell me how to generate more addresses in my single account thank you.

Hi there Shrinivas! Addresses that you generated in your old wallet prior to upgrading can be found in Settings -> Addresses, then scroll down to Imported Addresses -> Manage Addresses. You can still receive funds send to your Imported Addresses, but if they are “Witness Only”, you will need the private key to use those funds. More about this here. Imported Addresses are NOT included in the Wallet Backup process, so we very recommend using the Transfer All option to stir them to your accounts.

If you’d like to generate more addresses in any of your accounts, you can go to Settings -> Addresses -> pick what account you want, then Manage Addresses. You can then choose Next Address to generate a fresh address for that account, and also click on Used Addresses to view all previously used addresses for that account. See more on used addresses here. I hope this information was helpful. Thanks!

I attempted sending money from here to another address and what they say is Use total available minus fee: i don’t understand

Hi Rich! Sorry to hear you’re having trouble sending. For assistance with this, please reach out to our support team – you can contact them here: https://support.blockchain.com/hc/en-us/requests/fresh

can you confirm all wallets have been upgraded to Trio.0 last night? We seem to have gotten an upgrade automatically. Now we use a built JSON-RPC Module with magento and it is now throwing me:

exception ‘Mage_Core_Exception’ with message ‘JSON-RPC Error: Wallet version Three.0 not supported

This is rather unpleasent with no prior warning. We have had to switch wallet in the past due to an accidental upgrade. Gladly confirm if all wallets have been upgrade now and there is no access to the old version, even as a fresh wallet?

Hi Mark! Are you using our API? I’m not sure what that error refers to. We did announce earlier this week that we will be migrating all remaining legacy wallet users to our newest wallet version, but that won’t be ended until August 16th. I recommend you reach out to our support staff if you haven’t already, so they can look into this further. You can reach them here. Thanks!

I cannot get my wallet switched over from legacy to fresh wallet. I am following the steps and when I get asked for my 2nd pw it accepts it but redirects me to the main info site. I have cleared cookies and used different browsers and even attempted using my phone but same results. Please advise.

Hi Devin! Thanks for letting us know about your issue. Please reach out to our support team for help on this so we can get you upgraded to the newest version – https://support.blockchain.com/hc/en-us/requests/fresh ��

I have already done this with no response. I will pack out the form again and hopefully I will get some response. I am literally stuck with zero access to my coins and it is concerning.

Hi Devin! Sorry to hear this – the form does require you wait a certain period of time for it to accomplish. Did you reach out to support about this? If you did, feel free to share your ticket number and I can on the status with support. If not, please submit a ticket so they can advise you further: https://support.blockchain.com/hc/en-us/requests/fresh. Thanks!

I am attempting to access my wallet, but have lost my password. I have attempted a number of things to recover including removing the two step process. I have attempted injecting the wallet recovery mnemonic that I have but cannot proceed. The one I have is eighteen words, but recovery process asks for 12. Is there a process to convert the eighteen word mnemonic to a twelve word one? Is there a legacy URL available?

Is your wallet a legacy wallet? We do have a link for legacy users who haven’t updated and have lost their password – the link to use your recovery mnemonic is here: https://blockchain.info/wallet/forgot-password?guid=. I apologize for the delayed reply, but I hope this helps. If you need further assistance reach out to our support team here: https://support.blockchain.com/hc/en-us/requests/fresh.

Duo of questions please:

Question 1: It says here (https://blockchain.info/wallet/how-it-works) that “The private keys are your bitcoins. If you keep a backup of them then you are not dependant on our fresh service and can use them with any desktop client.”

How do I do this? That is, back up and download the private keys so I can use them with another service or desktop client?

Assuming a hypothetical script where blockchain.info went permanently offline, never to come back, how would I recover the coins in my wallet?

I understand the twelve word backup system (and have done this) but it seems dependant upon your site and systems. Surely without downloading all keys myself (as I believe was possible in the legacy system) I’m reliant on your service and systems.

Many thanks for your help.

Hi Rob! Thanks for your questions. That How-It-Works graphic was made for the legacy version of our wallet, but the same concept still applies for the newer version. By setting up your Wallet Recovery Phrase (the 2nd link you collective), you are essentially holding a copy of all the private keys in your wallet, without having to worry about a wallet backup file. With HD wallets, keys are generated via the original Xpub and Xpriv keys, so backing up is simplified by using a phrase (also called a Seed). If our site goes down, but you have already written down your Wallet Recovery Phrase (and you only ever need to do this once, whereas the backup file would need to be updated each time a fresh address was generated in your wallet), you can use other HD compatible wallets to recover your funds. The best option for this is using the Trezor HD wallet, which many of us on the team can vouch for as a compatible option. I hope this helps! ��

The only other extra thing I want to mention here is that any balances in Imported Addresses will NOT be included in the backup process. This is because they aren’t generated via your Wallet’s Xpub, the source of your wallet addresses. If you do have balances stored under Imported Addresses, we recommend using Transfer All to budge them to recoverable addresses so you can prevent loss in case you do need to use your backup phrase.

Ideal, thank you Alyson, much appreciated ��

Related video:

A very high quality Bitcoin Blockchain Online Course

A very high quality Bitcoin Blockchain Online Course

If you are serious about cryptocurrencies and blockchain technologies, this is the course you want to take. To borrow a line out of “The Pursue UK”, it’s a course “right out of the top drawer”.

Don’t let the course title “Bitcoin and Cryptocurrency Technologies” mislead you. It’s all about “blockchain” technologies. With the “blockchain” rave rampant, this course highlights blockchain technologies specifically with bitcoins as the example application.

Content

I missed the very first intake for this course about a year ago but managed to enrol this time around. It’s introduced as an eleven week course and with lectures via movies.

Summary of course. See utter details here:

  • Week 1: six movies, fifty five min: Introduction to Crypto and Cryptocurrencies
  • Week Two: five movies, seventy one min: How Bitcoin Achieves Decentralization
  • Week Three: six movies, seventy four min: Mechanics of Bitcoin
  • Week Four: seven movies, seventy eight min: How to Store and Use Bitcoins
  • Week Five: five movies, eighty four min: Bitcoin Mining
  • Week 6: six movies, one hundred nine min: Bitcoin and Anonymity
  • Week 7: eight movies, sixty nine min: Community, Politics, and Regulation
  • Week 8: five movies, forty two min: Alternative Mining Puzzles
  • Week 9: five movies, eighty three min: Bitcoin as a Platform
  • Week Ten: four movies, sixty two min: Altcoins and the Cryptocurrency Ecosystem
  • Week 11: four movies, eighty two min: The Future of Bitcoin?

What was good and why?

  • I was familiar with about 90% of the content already because I have spent the last Two.Five years studying bitcoins and blockchains. What the course did was take the equivalent of my Two.Five years of research and squeezed it into “11 weeks” and served it on a platter!
  • It was very professionally introduced with excellent analogies and actual examples.
  • Even tho’ it was published in late 2014, the material is still relevant and the fundamental principles don’t switch.
  • It was well structured. The very first week introduces hash functions and digital signatures. Albeit technical, these concepts are critical to understand if you want to truly understand cryptocurrencies and blockchain technologies. This is one of the main reasons why I’ve written about them in the past also:
  • Week three was the most technical talking about the details of a bitcoin transaction. I studied this twelve months earlier as the curiosity in me knew that this was going to be significant so it was a fine revision.
  • Albeit there are numerous references to “bitcoin” in the lectures and the latest craze is all about “blockchain” technologies I am a strong believer that learning about bitcoin provides a solid foundation to learning blockchain technologies.
  • Bitcoin anonymity in week six was a fine section. It clears the question “is bitcoin indeed anonymous?”. Hint, the reaction is that it is pseudo anonymous. You’ll have take the course to find out what that means!

Note there is a bonus lecture on the history of bitcoin which was valuable as well!

Improvements? Add a Bitcoin Address for Donations

A bitcoin address for donations would be useful.

Summary

All in all this was a good course, provides excellent fundamentals and will most likely leave the student with even more questions to proceed their own learning.

A very high quality Bitcoin Blockchain Online Course

A very high quality Bitcoin Blockchain Online Course

If you are serious about cryptocurrencies and blockchain technologies, this is the course you want to take. To borrow a line out of “The Pursue UK”, it’s a course “right out of the top drawer”.

Don’t let the course title “Bitcoin and Cryptocurrency Technologies” mislead you. It’s all about “blockchain” technologies. With the “blockchain” rave rampant, this course highlights blockchain technologies specifically with bitcoins as the example application.

Content

I missed the very first intake for this course about a year ago but managed to enrol this time around. It’s introduced as an eleven week course and with lectures via movies.

Summary of course. See total details here:

  • Week 1: six movies, fifty five min: Introduction to Crypto and Cryptocurrencies
  • Week Two: five movies, seventy one min: How Bitcoin Achieves Decentralization
  • Week Three: six movies, seventy four min: Mechanics of Bitcoin
  • Week Four: seven movies, seventy eight min: How to Store and Use Bitcoins
  • Week Five: five movies, eighty four min: Bitcoin Mining
  • Week 6: six movies, one hundred nine min: Bitcoin and Anonymity
  • Week 7: eight movies, sixty nine min: Community, Politics, and Regulation
  • Week 8: five movies, forty two min: Alternative Mining Puzzles
  • Week 9: five movies, eighty three min: Bitcoin as a Platform
  • Week Ten: four movies, sixty two min: Altcoins and the Cryptocurrency Ecosystem
  • Week 11: four movies, eighty two min: The Future of Bitcoin?

What was good and why?

  • I was familiar with about 90% of the content already because I have spent the last Two.Five years studying bitcoins and blockchains. What the course did was take the equivalent of my Two.Five years of research and squeezed it into “11 weeks” and served it on a platter!
  • It was very professionally introduced with fine analogies and actual examples.
  • Even however it was published in late 2014, the material is still relevant and the fundamental principles don’t switch.
  • It was well structured. The very first week introduces hash functions and digital signatures. Albeit technical, these concepts are critical to understand if you want to truly understand cryptocurrencies and blockchain technologies. This is one of the main reasons why I’ve written about them in the past also:
  • Week three was the most technical talking about the details of a bitcoin transaction. I studied this twelve months earlier as the curiosity in me knew that this was going to be significant so it was a excellent revision.
  • Albeit there are numerous references to “bitcoin” in the lectures and the latest craze is all about “blockchain” technologies I am a strong believer that learning about bitcoin provides a solid foundation to learning blockchain technologies.
  • Bitcoin anonymity in week six was a excellent section. It clears the question “is bitcoin indeed anonymous?”. Hint, the response is that it is pseudo anonymous. You’ll have take the course to find out what that means!

Note there is a bonus lecture on the history of bitcoin which was valuable as well!

Improvements? Add a Bitcoin Address for Donations

A bitcoin address for donations would be useful.

Summary

All in all this was a excellent course, provides superb fundamentals and will most likely leave the student with even more questions to proceed their own learning.

Related video:

11 Best Bitcoin Wallet Hardware & App Reviews 2017

Which is the Best Bitcoin Wallet?

This guide will help you to find the best Bitcoin wallet for YOU!

There’s no “one size fits all” Bitcoin wallet. Wallets come on different platforms with different features.

If you want the best possible wallet, keep reading.

Chapters

Chapter 1

What is a Bitcoin Wallet?

A Bitcoin wallet is the very first step to using Bitcoin.

Without a wallet, you can’t receive, store, or spend bitcoins.

You can think of a wallet as your individual interface to the Bitcoin network, similar to how your online bank account is an interface to the regular monetary system.

Bitcoin wallets contain private keys; secret codes that permit you to spend your bitcoins.

In reality, it’s not bitcoins that need to be stored and secured, but the private keys that give you access to them.

A Bitcoin wallet is simply an app, website, or device that manages Bitcoin private keys for you.

Chapter Two

Types of Bitcoin Wallets

Let’s discuss the types of bitcoin wallets and why you might want to use one kind over another.

Hardware Wallets

A hardware wallet is a physical electronic device, built for the foot purpose of securing bitcoins.

The core innovation is that the hardware wallet must be connected to your computer, phone, or tablet before bitcoins may be spent.

The three most popular and best Bitcoin hardware wallets are:

Hardware wallets are a good choice if you’re serious about security and convenient, reliable Bitcoin storage.

Bitcoin hardware wallets keep private keys separate from vulnerable, internet-connected devices.

Your all-important private keys are maintained in a secure offline environment on the hardware wallet, fully protected even should the device be plugged into a malware-infected computer.

As bitcoins are digital, cyber-criminals could, potentially, target your computer’s “software wallet” and steal them by accessing your private key.

Generating and storing private keys offline using a hardware wallet ensures that hackers have no way to reach your bitcoins.

Hackers would have to steal the hardware wallet itself, but even then, it can be protected with a PIN code.

Don’t worry about your hardware wallet getting stolen, lost or bruised either; so long as you create a secret backup code, you can always retrieve your bitcoins.

Think of a hardware wallet like your own underground steel vault. If you own a significant amount of bitcoins, you should strongly consider getting one!

Why are hardware wallets good?

  • Easiest way to securely store bitcoins
  • Effortless to backup and secure
  • Less margin for error; setup is effortless even for less technical users

Why are hardware wallets bad?

  • They’re not free!

Hot Wallets

Hot wallets are Bitcoin wallets that run on internet connected devices like a computer, mobile phone, or tablet.

Private keys are secret codes. Because hot wallets generate your private keys on an internet connected device, these private keys can’t be considered 100% secure.

Think of a hot wallet like your wallet today: you use it to store some cash, but not your life savings. Hot wallets are superb if you make frequent payments, but not a good choice for the secure storage of bitcoins.

Why are hot wallets good?

  • Easiest way to store puny amounts of bitcoin
  • Convenient; spending and receiving payments is effortless and rapid
  • Some hot wallets permit access to funds across numerous devices

Why are hot wallets bad?

  • Not safe for the secure storage of large amounts of bitcoins

Which Wallet is Best for You?

Investing or saving? Then a hardware wallet will keep your coins safe.

Otherwise, a software wallet will send and receive bitcoins just fine. Best of all, software wallets are free.

Each wallet has pros and cons, and different wallets are built to solve different problems.

Some wallets may be geared towards security, while some wallets may be more focused on privacy.

Your specific needs should determine the wallet you use, as there is no “best bitcoin wallet”.

Below, we’ve listed wallets you can buy or download. We suggest using the wallets listed or doing research before buying or downloading any wallet.

Each day, fresh Bitcoin scam wallets are added to the Google Play Store and Apple app store that are designed to steal peoples’ bitcoins.

We only list wallets that have published and open-sourced their code.

Chapter Trio

Hardware Wallets: Keep Your Coins Safe

Hardware wallets aren’t free.

But the price can be worth it if you own a significant amount of bitcoins. A hardware wallet will protect a few hundred in Bitcoin just as effectively as a few million.

How Hardware Wallets Work

Hardware wallets are secure, offline devices. They store your private keys offline so they can’t be hacked.

This means you can even use one on a malware infected computer.

Why A Hardware Wallet with a Screen is Significant

In the table below, you’ll notice we demonstrate which hardware wallets have screens.

Screens provide extra security by verifying and displaying significant wallet details. Since the hardware wallet is almost unlikely to hack, its screen is more trustworthy than data displayed on your computer.

Bitcoin Hardware Wallet Comparison

Check the table below for a quick comparison. Note:

Best Bitcoin Hardware Wallet Overviews

Ledger Nano S Buy Learn More

The Ledger Nano S is the cheapest of the three hardware wallets with a screen; it costs about $65. Ledger, one of the most well-known Bitcoin security companies, released the device in August 2016.

TREZOR Buy Learn More

TREZOR launched in August two thousand fourteen as the very first Bitcoin hardware wallet, suggesting secure bitcoin storage plus the capability to spend with the convenience of a hot wallet. TREZOR is a puny, thumb-sized device.

KeepKey Buy Learn More

KeepKey was released in September two thousand fifteen and was the 2nd hardware Bitcoin wallet to suggest a screen. The KeepKey’s larger screen gives it some extra security features that the Nano S and Trezor lack.

Ledger HW.1 Buy Learn More

The Ledger HW.1 can be considered a budget hardware wallet. It doesn’t have a screen, so it isn’t fairly as secure as the three options mentioned above. It will, however, give you more security than a hot wallet.

Chapter Four

Hot Wallets

Just a quick refresher:

Hot wallets are Bitcoin wallets that run on internet connected devices like a computer, mobile phone, or tablet. As hot wallets generate private keys on an internet connected device, these private keys can’t be considered 100% secure.

Think of a hot wallet like your wallet today: you use it to store some cash, but not your life savings. Hot wallets are fine if you make frequent payments, but not a good choice for the secure storage of bitcoins.

Online Bitcoin Wallets (Web Wallets)

Web wallets store your private keys online, where they are encrypted with a user-selected password. Albeit they suggest the lowest level of security, online bitcoin wallets have the advantage of being accessible from any internet connected device.

GreenAddress

GreenAddress is a multi-signature Bitcoin wallet available on the web, desktop, Android, and iOS. GreenAddress is compatible with hardware wallets like TREZOR, Ledger Nano, and the HW.1.

“Multi-signature” in this context means that the site requires a manual confirmation from you for your coins to be moved; this greatly improves security.

Android Bitcoin Wallets

There is a large selection of Android wallets. Since Bitcoin wallets were originally banned by Apple, developers spent much of their time developing for Android.

Mycelium

Mycelium is the most popular Bitcoin wallet on Android. It’s very effortless to use for sending and receiving payments. Backing up your wallet is also plain, since Mycelium makes it very clear with setup and backup instructions.

breadwallet

breadwallet, the excellent iPhone Bitcoin wallet, recently released an Android wallet. It offers the user control of private keys, an effortless to use interface, and passcode support.

Copay

The Copay Bitcoin wallet is also available for Android. It’s effortless to use and offers many advanced features that suggest superb plasticity.

Airbitz

Airbitz is an effortless to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people fresh to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.

GreenBits

GreenBits is the native Android version of GreenAddress. It’s a multi-signature wallet that also supports hardware wallets like TREZOR and Ledger.

Bitcoin Wallet

Bitcoin Wallet, or “Schildbach Wallet”, was the very first mobile Bitcoin wallet. Bitcoin Wallet is more secure than most mobile Bitcoin wallets, because it connects directly to the Bitcoin network. Bitcoin Wallet has a elementary interface and just the right amount of features, making it a excellent wallet and a fine educational implement for Bitcoin beginners.

iOS and iPhone Bitcoin Wallets

Apple banned Bitcoin wallets from the App Store in February 2014, but reversed its decision a few months later. Fortunately, there are now slew of options for iOS users.

breadwallet

We consider breadwallet, along with Copay (below), as the best bitcoin wallet for iPhone. It’s open source and gives the user total control over their private keys. It also has a clean interface which makes the sending and receiving of bitcoins a pleasurable and super-simple process.

Copay

Copay Bitcoin wallet is BitPay’s open source wallet. It can be used across numerous devices, since Copay is available for Android, Windows Phone, iOS, and all desktop platforms. Among many other superb features, it’s effortless to create numerous accounts so you can have separate wallets for your business and private funds.

Airbitz

Airbitz is an effortless to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people fresh to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.

Desktop Wallets

Desktop wallets are downloaded and installed on your computer. If privacy is your main concern, the Bitcoin core wallet is a good option since it does not rely on third parties for data.

Electrum

Electrum is a light weight Bitcoin wallet for Mac, Linux, and Windows. Electrum was created in November 2011. The main features of Electrum are: support for hardware wallets (such as TREZOR, Ledger Nano and KeepKey), and secure Bitcoin storage using an offline computer. Electrum is a good option for both beginners and advanced users.

Copay

Last, but not least, Copay is also available on desktop. Its desktop app gives you the capability to manage your hardware wallets, along with all of the other features mentioned above.

Chapter Five

Bitcoin Banks: $1 Billion Lost in Hacks

One last thing to keep in mind when it comes to bitcoin wallets is that there is a difference inbetween a wallet and a bank. Some Bitcoin users view Coinbase as a Bitcoin wallet, but companies like this operate much more like banks.

The private keys are what users need to protect to securely use the Bitcoin network without getting robbed. When you palm someone else control over your private keys, you are essentially making a deposit at that financial institution – much like a deposit at any bank.

Don’t store coins on exchanges! Bitcoin users have lost over $1 billion worth of bitcoins in exchange hacks and scams. Control your own private keys. If you need help, then ask your questions in our Ask section.

This is not to say that bitcoin banks are inherently bad. Companies like Coinbase have done wonders for bringing more users into the ecosystem. It is simply significant to reminisce that whoever controls the private keys controls the bitcoin affixed to those keys.

A misunderstanding of this point has led to hundreds of millions of US dollars being lost in the past, so it’s significant to understand this critical difference in how Bitcoin private keys can be stored.

Understanding how bitcoin wallets work is an significant aspect of securely using this fresh technology. Bitcoin is still in its early years of development and wallets will become much more user-friendly in time.

In the near future, certain devices may eventually come with pre-installed wallets that interact with the blockchain without the user’s skill.

For now, it’s vital to keep in mind that the private keys are what you need to protect if you want to keep your bitcoin safe from hackers, user error, and other possible issues.

Chapter 6

Theft and Scams

No matter which wallet you choose, reminisce:

Your bitcoins are only safe if the private key was generated securely, remains a secret, and–most importantly–is managed only by YOU!

Here are two examples where users got ripped off by leaving bitcoins in the care of a third party:

To avoid theft, scams, and any other loss of funds, go after these three basic principles:

  1. Generate your private keys in a secure, offline environment. (Except if using trivial amounts, in which cases keys may be created in a hot wallet).
  2. Create backups of your private keys. This helps to protect against the loss of your bitcoins due to hard drive failure or some other problem or accident. Ideally you should have a duplicate set of backups kept off-site to protect against the possibility of fire, robbery, etc.
  3. Encrypt wallets to provide extra security. This helps prevent the physical theft of your funds in the event that your device or hardware wallet is stolen.

Securing your bitcoins decently is the most significant step for any Bitcoin user.

With Bitcoin you have the privilege – but also the responsibility – to safeguard your own money. There have been uncountable scams related to Bitcoin that could have been prevented had people not entrusted others with their bitcoins.

It’s a good rule of thumb to never trust anyone else with your money.

Bonus Chapter

Bitcoin Wallet Frequently Asked Questions

Bitcoin wallets. What are they?

Bitcoin Wallets let us send, receive and store Bitcoin amounts all the way down to the Satoshi unit.

Wallets secure funds by guarding our private keys. These private keys act as the proof of ownership for our Bitcoins. As such, a Bitcoin wallet is like a key to your safe deposit box on the Blockchain.

What is a private key?

Private keys emerged as a way to communicate securely through insecure communication channels.

Historically, before the advent of public key cryptography, the greatest cryptographic weakness was the inability to communicate the ‘key’ that makes sense of encrypted messages. As a solution, the use of two keys (public and private) entered the picture.

It’s a nifty little trick.

Keys come in pairs. The public key is used to encrypt the message whereas the private key decrypts the message. The only person with the private key is you. Everyone else is free to have your public key. As a result, everyone can send you encrypted messages without having to agree on a key beforehand. They simply use your public key and you untangle the gibberish by using your private key.

Why should I care about private keys?

At the end of the day, all of this can go over your head without much danger. Just recall that it’s good to know what you’re dealing with. Bitcoin wallets make use of a fundamental cryptographic principle that we use for things ranging from https for websites or sending anonymous tips to Wikileaks. Most importantly, by understanding private keys you’ll have a much lighter familiarizing yourself with Cold Storage wallets.

What is a Bitcoin address?

A Bitcoin address is like an account number, just better. The address denotes which wallet the coins should be sent to. Like a bank account number, where the difference lies in the wallets having numerous addresses. These can be customized by including payment request information such as an amount and a date of expiration.

What should I know about addresses?

Bitcoin wallet addresses are case sensitive, usually have thirty four characters of numbers and lowercase letters, begin with either a one or a Three, and never use 0, O, l and I to make every character in the address as clear as possible. That’s a lot to take in. But don’t worry. What they consist of is largely irrelevant to you. Just know they’re a string of characters that denote a destination on the Bitcoin Blockchain.

How do I generate a Bitcoin address for my wallet?

How to generate a fresh Bitcoin Address varies inbetween wallets. Some manage your addresses for you. Others give you total control. As with many other Bitcoin technologies, the option to dirty your own arms is always open.

If you do end up taking the lighter route, just press a button to generate a fresh address for your wallet.

Some wallets, like Electrum, permit you choose in how many blocks your transaction should be confirmed. The swifter you want your payment to go through, the more you will have to pay miners for confirming your activity. We find here another difference inbetween Bitcoin wallets and Bank accounts. Given the right wallet, the control and oversight that we have over our transactions is far more extensive than that of the traditional banking system.

How do I fund a Bitcoin Wallet?

Very first, acquire some Bitcoins. Go through an exchange in your country, ask an acquaintance to share, or use Buybitcoinworldwide.com if you want as seamless of an practice as possible. The purchased coins can then be sent to your wallet by specifying one of its addresses.

Some wallets, particularly online ones, also let you buy coins. Keep in mind that these come with larger exchange margins which are best left alone.

Are Bitcoins safe?

Is Bitcoin a safe way to store value digitally? Are we wise to save our coins on our computer? It’s true that online wallets are necessarily more dangerous than offline wallets. However, even offline wallets can be breached, meaning that security in the Bitcoin world depends largely on following good practices. Just like you would avoid flailing your bills about in a dangerous place, you should make sure to keep your passwords and keys as safe as possible.

How do I secure my Wallet?

  • Secure your computer
  • Restrict unsupervised access. Set a strong password and close all ports and maintain a rigorous firewall.
  • Frequently switch address. Use a different address for every transaction.
  • Numerous Signatures (Multi-sig). Numerous private keys to deter breaches.

Where are Bitcoins stored?

Bitcoins simply consist of a string of data. That’s why they can be stored anywhere. You could paint Bitcoin on a wall with your blood. Nobody does that tho’. Hopefully.

Instead, we store BTC on computers because we need them handy to trade. After all, we need to be connected to the internet to send value from one wallet to another over the Blockchain.

How do I open a Bitcoin account?

To some readers this might seem like a weird question. Truth is, people coming from a financial or business background are likely to expect Bitcoin to be a direct alternative to our current financial system. This is not the case.

You don’t need a Bitcoin account. There is no such thing truly. You just need a wallet. The only accounts you might encounter are online wallets that are separated into various accounts via a user system.

What types of wallets are there?

  • Online
    • Web-wallet. Accessed via web-browser. Access to money gained through username or password.
  • Offline
    • Desktop
      • Access gained via physical access to computer.
    • Mobile
      • Access gained via physical access to phone.
  • Hardware (Cold Storage)
    • Paper, Brain, Hardware
      • Hardware wallets delimit access of your funds to the hardware device alone. The coins are stored in a microcontroller, and are to be transferred only when authorized.
      • The act of storing of your wallet’s private keys in a way that is downright detached from a network.

How do I know which wallet is best for me?

Let’s be fair. It’s unreasonable to expect anyone else to make this decision for you. After all, your preference depends entirely on your personality and needs. So just be fair with yourself.

Frankly, you shouldn’t need anything complicated if you’re using the wallet for ordinary internet expenses or as a way to save money.

If, however, you’re planning to run a Bitcoin centered business make sure to use advanced wallets that support automated mass payments.

Any common mistakes to be careful of?

Very first of all, don’t rest your money in an exchange wallet. Keep your coins in an environment where you have finish control.

Secondly, don’t keep all of your coins in one place. You’ll be crushed if you lose access to a wallet with all of your funds.

Thirdly, dual check the target address. Bitcoin transactions cannot be reversed, so don’t lose your coins forever to a stranger!

Last of all, use trusted online wallets (if at all). Don’t just trust anyone with your money. Make sure that the online wallet provider has a reputation of upholding the highest possible security standards.

11 Best Bitcoin Wallet Hardware & App Reviews two thousand seventeen

Which is the Best Bitcoin Wallet?

This guide will help you to find the best Bitcoin wallet for YOU!

There’s no “one size fits all” Bitcoin wallet. Wallets come on different platforms with different features.

If you want the best possible wallet, keep reading.

Chapters

Chapter 1

What is a Bitcoin Wallet?

A Bitcoin wallet is the very first step to using Bitcoin.

Without a wallet, you can’t receive, store, or spend bitcoins.

You can think of a wallet as your individual interface to the Bitcoin network, similar to how your online bank account is an interface to the regular monetary system.

Bitcoin wallets contain private keys; secret codes that permit you to spend your bitcoins.

In reality, it’s not bitcoins that need to be stored and secured, but the private keys that give you access to them.

A Bitcoin wallet is simply an app, website, or device that manages Bitcoin private keys for you.

Chapter Two

Types of Bitcoin Wallets

Let’s discuss the types of bitcoin wallets and why you might want to use one kind over another.

Hardware Wallets

A hardware wallet is a physical electronic device, built for the foot purpose of securing bitcoins.

The core innovation is that the hardware wallet must be connected to your computer, phone, or tablet before bitcoins may be spent.

The three most popular and best Bitcoin hardware wallets are:

Hardware wallets are a good choice if you’re serious about security and convenient, reliable Bitcoin storage.

Bitcoin hardware wallets keep private keys separate from vulnerable, internet-connected devices.

Your all-important private keys are maintained in a secure offline environment on the hardware wallet, fully protected even should the device be plugged into a malware-infected computer.

As bitcoins are digital, cyber-criminals could, potentially, target your computer’s “software wallet” and steal them by accessing your private key.

Generating and storing private keys offline using a hardware wallet ensures that hackers have no way to reach your bitcoins.

Hackers would have to steal the hardware wallet itself, but even then, it can be protected with a PIN code.

Don’t worry about your hardware wallet getting stolen, lost or bruised either; so long as you create a secret backup code, you can always retrieve your bitcoins.

Think of a hardware wallet like your own underground steel vault. If you own a significant amount of bitcoins, you should strongly consider getting one!

Why are hardware wallets good?

  • Easiest way to securely store bitcoins
  • Effortless to backup and secure
  • Less margin for error; setup is effortless even for less technical users

Why are hardware wallets bad?

  • They’re not free!

Hot Wallets

Hot wallets are Bitcoin wallets that run on internet connected devices like a computer, mobile phone, or tablet.

Private keys are secret codes. Because hot wallets generate your private keys on an internet connected device, these private keys can’t be considered 100% secure.

Think of a hot wallet like your wallet today: you use it to store some cash, but not your life savings. Hot wallets are superb if you make frequent payments, but not a good choice for the secure storage of bitcoins.

Why are hot wallets good?

  • Easiest way to store petite amounts of bitcoin
  • Convenient; spending and receiving payments is effortless and swift
  • Some hot wallets permit access to funds across numerous devices

Why are hot wallets bad?

  • Not safe for the secure storage of large amounts of bitcoins

Which Wallet is Best for You?

Investing or saving? Then a hardware wallet will keep your coins safe.

Otherwise, a software wallet will send and receive bitcoins just fine. Best of all, software wallets are free.

Each wallet has pros and cons, and different wallets are built to solve different problems.

Some wallets may be geared towards security, while some wallets may be more focused on privacy.

Your specific needs should determine the wallet you use, as there is no “best bitcoin wallet”.

Below, we’ve listed wallets you can buy or download. We suggest using the wallets listed or doing research before buying or downloading any wallet.

Each day, fresh Bitcoin scam wallets are added to the Google Play Store and Apple app store that are designed to steal peoples’ bitcoins.

We only list wallets that have published and open-sourced their code.

Chapter Three

Hardware Wallets: Keep Your Coins Safe

Hardware wallets aren’t free.

But the price can be worth it if you own a significant amount of bitcoins. A hardware wallet will protect a few hundred in Bitcoin just as effectively as a few million.

How Hardware Wallets Work

Hardware wallets are secure, offline devices. They store your private keys offline so they can’t be hacked.

This means you can even use one on a malware infected computer.

Why A Hardware Wallet with a Screen is Significant

In the table below, you’ll notice we demonstrate which hardware wallets have screens.

Screens provide extra security by verifying and displaying significant wallet details. Since the hardware wallet is almost unlikely to hack, its screen is more trustworthy than data displayed on your computer.

Bitcoin Hardware Wallet Comparison

Check the table below for a quick comparison. Note:

Best Bitcoin Hardware Wallet Overviews

Ledger Nano S Buy Learn More

The Ledger Nano S is the cheapest of the three hardware wallets with a screen; it costs about $65. Ledger, one of the most well-known Bitcoin security companies, released the device in August 2016.

TREZOR Buy Learn More

TREZOR launched in August two thousand fourteen as the very first Bitcoin hardware wallet, suggesting secure bitcoin storage plus the capability to spend with the convenience of a hot wallet. TREZOR is a petite, thumb-sized device.

KeepKey Buy Learn More

KeepKey was released in September two thousand fifteen and was the 2nd hardware Bitcoin wallet to suggest a screen. The KeepKey’s larger screen gives it some extra security features that the Nano S and Trezor lack.

Ledger HW.1 Buy Learn More

The Ledger HW.1 can be considered a budget hardware wallet. It doesn’t have a screen, so it isn’t fairly as secure as the three options mentioned above. It will, however, give you more security than a hot wallet.

Chapter Four

Hot Wallets

Just a quick refresher:

Hot wallets are Bitcoin wallets that run on internet connected devices like a computer, mobile phone, or tablet. As hot wallets generate private keys on an internet connected device, these private keys can’t be considered 100% secure.

Think of a hot wallet like your wallet today: you use it to store some cash, but not your life savings. Hot wallets are fine if you make frequent payments, but not a good choice for the secure storage of bitcoins.

Online Bitcoin Wallets (Web Wallets)

Web wallets store your private keys online, where they are encrypted with a user-selected password. Albeit they suggest the lowest level of security, online bitcoin wallets have the advantage of being accessible from any internet connected device.

GreenAddress

GreenAddress is a multi-signature Bitcoin wallet available on the web, desktop, Android, and iOS. GreenAddress is compatible with hardware wallets like TREZOR, Ledger Nano, and the HW.1.

“Multi-signature” in this context means that the site requires a manual confirmation from you for your coins to be moved; this greatly improves security.

Android Bitcoin Wallets

There is a large selection of Android wallets. Since Bitcoin wallets were originally banned by Apple, developers spent much of their time developing for Android.

Mycelium

Mycelium is the most popular Bitcoin wallet on Android. It’s very effortless to use for sending and receiving payments. Backing up your wallet is also plain, since Mycelium makes it very clear with setup and backup instructions.

breadwallet

breadwallet, the excellent iPhone Bitcoin wallet, recently released an Android wallet. It offers the user control of private keys, an effortless to use interface, and passcode support.

Copay

The Copay Bitcoin wallet is also available for Android. It’s effortless to use and offers many advanced features that suggest good plasticity.

Airbitz

Airbitz is an effortless to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people fresh to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.

GreenBits

GreenBits is the native Android version of GreenAddress. It’s a multi-signature wallet that also supports hardware wallets like TREZOR and Ledger.

Bitcoin Wallet

Bitcoin Wallet, or “Schildbach Wallet”, was the very first mobile Bitcoin wallet. Bitcoin Wallet is more secure than most mobile Bitcoin wallets, because it connects directly to the Bitcoin network. Bitcoin Wallet has a plain interface and just the right amount of features, making it a good wallet and a good educational device for Bitcoin beginners.

iOS and iPhone Bitcoin Wallets

Apple banned Bitcoin wallets from the App Store in February 2014, but reversed its decision a few months later. Fortunately, there are now slew of options for iOS users.

breadwallet

We consider breadwallet, along with Copay (below), as the best bitcoin wallet for iPhone. It’s open source and gives the user total control over their private keys. It also has a clean interface which makes the sending and receiving of bitcoins a pleasurable and super-simple process.

Copay

Copay Bitcoin wallet is BitPay’s open source wallet. It can be used across numerous devices, since Copay is available for Android, Windows Phone, iOS, and all desktop platforms. Among many other excellent features, it’s effortless to create numerous accounts so you can have separate wallets for your business and private funds.

Airbitz

Airbitz is an effortless to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people fresh to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.

Desktop Wallets

Desktop wallets are downloaded and installed on your computer. If privacy is your main concern, the Bitcoin core wallet is a good option since it does not rely on third parties for data.

Electrum

Electrum is a light weight Bitcoin wallet for Mac, Linux, and Windows. Electrum was created in November 2011. The main features of Electrum are: support for hardware wallets (such as TREZOR, Ledger Nano and KeepKey), and secure Bitcoin storage using an offline computer. Electrum is a good option for both beginners and advanced users.

Copay

Last, but not least, Copay is also available on desktop. Its desktop app gives you the capability to manage your hardware wallets, along with all of the other features mentioned above.

Chapter Five

Bitcoin Banks: $1 Billion Lost in Hacks

One last thing to keep in mind when it comes to bitcoin wallets is that there is a difference inbetween a wallet and a bank. Some Bitcoin users view Coinbase as a Bitcoin wallet, but companies like this operate much more like banks.

The private keys are what users need to protect to securely use the Bitcoin network without getting robbed. When you forearm someone else control over your private keys, you are essentially making a deposit at that financial institution – much like a deposit at any bank.

Don’t store coins on exchanges! Bitcoin users have lost over $1 billion worth of bitcoins in exchange hacks and scams. Control your own private keys. If you need help, then ask your questions in our Ask section.

This is not to say that bitcoin banks are inherently bad. Companies like Coinbase have done wonders for bringing more users into the ecosystem. It is simply significant to recall that whoever controls the private keys controls the bitcoin linked to those keys.

A misunderstanding of this point has led to hundreds of millions of US dollars being lost in the past, so it’s significant to understand this critical difference in how Bitcoin private keys can be stored.

Understanding how bitcoin wallets work is an significant aspect of securely using this fresh technology. Bitcoin is still in its early years of development and wallets will become much more user-friendly in time.

In the near future, certain devices may eventually come with pre-installed wallets that interact with the blockchain without the user’s skill.

For now, it’s vital to keep in mind that the private keys are what you need to protect if you want to keep your bitcoin safe from hackers, user error, and other possible issues.

Chapter 6

Theft and Scams

No matter which wallet you choose, recall:

Your bitcoins are only safe if the private key was generated securely, remains a secret, and–most importantly–is managed only by YOU!

Here are two examples where users got ripped off by leaving bitcoins in the care of a third party:

To avoid theft, scams, and any other loss of funds, go after these three basic principles:

  1. Generate your private keys in a secure, offline environment. (Except if using trivial amounts, in which cases keys may be created in a hot wallet).
  2. Create backups of your private keys. This helps to protect against the loss of your bitcoins due to hard drive failure or some other problem or accident. Ideally you should have a duplicate set of backups kept off-site to protect against the possibility of fire, robbery, etc.
  3. Encrypt wallets to provide extra security. This helps prevent the physical theft of your funds in the event that your device or hardware wallet is stolen.

Securing your bitcoins decently is the most significant step for any Bitcoin user.

With Bitcoin you have the privilege – but also the responsibility – to safeguard your own money. There have been uncountable scams related to Bitcoin that could have been prevented had people not entrusted others with their bitcoins.

It’s a good rule of thumb to never trust anyone else with your money.

Bonus Chapter

Bitcoin Wallet Frequently Asked Questions

Bitcoin wallets. What are they?

Bitcoin Wallets let us send, receive and store Bitcoin amounts all the way down to the Satoshi unit.

Wallets secure funds by guarding our private keys. These private keys act as the proof of ownership for our Bitcoins. As such, a Bitcoin wallet is like a key to your safe deposit box on the Blockchain.

What is a private key?

Private keys emerged as a way to communicate securely through insecure communication channels.

Historically, before the advent of public key cryptography, the greatest cryptographic weakness was the inability to communicate the ‘key’ that makes sense of encrypted messages. As a solution, the use of two keys (public and private) entered the picture.

It’s a nifty little trick.

Keys come in pairs. The public key is used to encrypt the message whereas the private key decrypts the message. The only person with the private key is you. Everyone else is free to have your public key. As a result, everyone can send you encrypted messages without having to agree on a key beforehand. They simply use your public key and you untangle the gibberish by using your private key.

Why should I care about private keys?

At the end of the day, all of this can go over your head without much danger. Just reminisce that it’s good to know what you’re dealing with. Bitcoin wallets make use of a fundamental cryptographic principle that we use for things ranging from https for websites or sending anonymous tips to Wikileaks. Most importantly, by understanding private keys you’ll have a much lighter familiarizing yourself with Cold Storage wallets.

What is a Bitcoin address?

A Bitcoin address is like an account number, just better. The address denotes which wallet the coins should be sent to. Like a bank account number, where the difference lies in the wallets having numerous addresses. These can be customized by including payment request information such as an amount and a date of expiration.

What should I know about addresses?

Bitcoin wallet addresses are case sensitive, usually have thirty four characters of numbers and lowercase letters, embark with either a one or a Three, and never use 0, O, l and I to make every character in the address as clear as possible. That’s a lot to take in. But don’t worry. What they consist of is largely irrelevant to you. Just know they’re a string of characters that denote a destination on the Bitcoin Blockchain.

How do I generate a Bitcoin address for my wallet?

How to generate a fresh Bitcoin Address varies inbetween wallets. Some manage your addresses for you. Others give you total control. As with many other Bitcoin technologies, the option to dirty your own arms is always open.

If you do end up taking the lighter route, just press a button to generate a fresh address for your wallet.

Some wallets, like Electrum, permit you choose in how many blocks your transaction should be confirmed. The quicker you want your payment to go through, the more you will have to pay miners for confirming your activity. We find here another difference inbetween Bitcoin wallets and Bank accounts. Given the right wallet, the control and oversight that we have over our transactions is far more extensive than that of the traditional banking system.

How do I fund a Bitcoin Wallet?

Very first, acquire some Bitcoins. Go through an exchange in your country, ask an acquaintance to share, or use Buybitcoinworldwide.com if you want as seamless of an practice as possible. The purchased coins can then be sent to your wallet by specifying one of its addresses.

Some wallets, particularly online ones, also let you buy coins. Keep in mind that these come with larger exchange margins which are best left alone.

Are Bitcoins safe?

Is Bitcoin a safe way to store value digitally? Are we wise to save our coins on our computer? It’s true that online wallets are necessarily more dangerous than offline wallets. However, even offline wallets can be breached, meaning that security in the Bitcoin world depends largely on following good practices. Just like you would avoid flailing your bills about in a dangerous place, you should make sure to keep your passwords and keys as safe as possible.

How do I secure my Wallet?

  • Secure your computer
  • Restrict unsupervised access. Set a strong password and close all ports and maintain a rigorous firewall.
  • Frequently switch address. Use a different address for every transaction.
  • Numerous Signatures (Multi-sig). Numerous private keys to deter breaches.

Where are Bitcoins stored?

Bitcoins simply consist of a string of data. That’s why they can be stored anywhere. You could paint Bitcoin on a wall with your blood. Nobody does that tho’. Hopefully.

Instead, we store BTC on computers because we need them handy to trade. After all, we need to be connected to the internet to send value from one wallet to another over the Blockchain.

How do I open a Bitcoin account?

To some readers this might seem like a weird question. Truth is, people coming from a financial or business background are likely to expect Bitcoin to be a direct alternative to our current financial system. This is not the case.

You don’t need a Bitcoin account. There is no such thing indeed. You just need a wallet. The only accounts you might encounter are online wallets that are separated into various accounts via a user system.

What types of wallets are there?

  • Online
    • Web-wallet. Accessed via web-browser. Access to money gained through username or password.
  • Offline
    • Desktop
      • Access gained via physical access to computer.
    • Mobile
      • Access gained via physical access to phone.
  • Hardware (Cold Storage)
    • Paper, Brain, Hardware
      • Hardware wallets delimit access of your funds to the hardware device alone. The coins are stored in a microcontroller, and are to be transferred only when authorized.
      • The act of storing of your wallet’s private keys in a way that is fully detached from a network.

How do I know which wallet is best for me?

Let’s be fair. It’s unreasonable to expect anyone else to make this decision for you. After all, your preference depends entirely on your personality and needs. So just be fair with yourself.

Frankly, you shouldn’t need anything complicated if you’re using the wallet for plain internet expenses or as a way to save money.

If, however, you’re planning to run a Bitcoin centered business make sure to use advanced wallets that support automated mass payments.

Any common mistakes to be careful of?

Very first of all, don’t rest your money in an exchange wallet. Keep your coins in an environment where you have accomplish control.

Secondly, don’t keep all of your coins in one place. You’ll be crushed if you lose access to a wallet with all of your funds.

Thirdly, dual check the target address. Bitcoin transactions cannot be reversed, so don’t lose your coins forever to a stranger!

Last of all, use trusted online wallets (if at all). Don’t just trust anyone with your money. Make sure that the online wallet provider has a reputation of upholding the highest possible security standards.

11 Best Bitcoin Wallet Hardware & App Reviews two thousand seventeen

Which is the Best Bitcoin Wallet?

This guide will help you to find the best Bitcoin wallet for YOU!

There’s no “one size fits all” Bitcoin wallet. Wallets come on different platforms with different features.

If you want the best possible wallet, keep reading.

Chapters

Chapter 1

What is a Bitcoin Wallet?

A Bitcoin wallet is the very first step to using Bitcoin.

Without a wallet, you can’t receive, store, or spend bitcoins.

You can think of a wallet as your private interface to the Bitcoin network, similar to how your online bank account is an interface to the regular monetary system.

Bitcoin wallets contain private keys; secret codes that permit you to spend your bitcoins.

In reality, it’s not bitcoins that need to be stored and secured, but the private keys that give you access to them.

A Bitcoin wallet is simply an app, website, or device that manages Bitcoin private keys for you.

Chapter Two

Types of Bitcoin Wallets

Let’s discuss the types of bitcoin wallets and why you might want to use one kind over another.

Hardware Wallets

A hardware wallet is a physical electronic device, built for the foot purpose of securing bitcoins.

The core innovation is that the hardware wallet must be connected to your computer, phone, or tablet before bitcoins may be spent.

The three most popular and best Bitcoin hardware wallets are:

Hardware wallets are a good choice if you’re serious about security and convenient, reliable Bitcoin storage.

Bitcoin hardware wallets keep private keys separate from vulnerable, internet-connected devices.

Your all-important private keys are maintained in a secure offline environment on the hardware wallet, fully protected even should the device be plugged into a malware-infected computer.

As bitcoins are digital, cyber-criminals could, potentially, target your computer’s “software wallet” and steal them by accessing your private key.

Generating and storing private keys offline using a hardware wallet ensures that hackers have no way to reach your bitcoins.

Hackers would have to steal the hardware wallet itself, but even then, it can be protected with a PIN code.

Don’t worry about your hardware wallet getting stolen, lost or bruised either; so long as you create a secret backup code, you can always retrieve your bitcoins.

Think of a hardware wallet like your own underground steel vault. If you own a significant amount of bitcoins, you should strongly consider getting one!

Why are hardware wallets good?

  • Easiest way to securely store bitcoins
  • Effortless to backup and secure
  • Less margin for error; setup is effortless even for less technical users

Why are hardware wallets bad?

  • They’re not free!

Hot Wallets

Hot wallets are Bitcoin wallets that run on internet connected devices like a computer, mobile phone, or tablet.

Private keys are secret codes. Because hot wallets generate your private keys on an internet connected device, these private keys can’t be considered 100% secure.

Think of a hot wallet like your wallet today: you use it to store some cash, but not your life savings. Hot wallets are excellent if you make frequent payments, but not a good choice for the secure storage of bitcoins.

Why are hot wallets good?

  • Easiest way to store petite amounts of bitcoin
  • Convenient; spending and receiving payments is effortless and prompt
  • Some hot wallets permit access to funds across numerous devices

Why are hot wallets bad?

  • Not safe for the secure storage of large amounts of bitcoins

Which Wallet is Best for You?

Investing or saving? Then a hardware wallet will keep your coins safe.

Otherwise, a software wallet will send and receive bitcoins just fine. Best of all, software wallets are free.

Each wallet has pros and cons, and different wallets are built to solve different problems.

Some wallets may be geared towards security, while some wallets may be more focused on privacy.

Your specific needs should determine the wallet you use, as there is no “best bitcoin wallet”.

Below, we’ve listed wallets you can buy or download. We suggest using the wallets listed or doing research before buying or downloading any wallet.

Each day, fresh Bitcoin scam wallets are added to the Google Play Store and Apple app store that are designed to steal peoples’ bitcoins.

We only list wallets that have published and open-sourced their code.

Chapter Trio

Hardware Wallets: Keep Your Coins Safe

Hardware wallets aren’t free.

But the price can be worth it if you own a significant amount of bitcoins. A hardware wallet will protect a few hundred in Bitcoin just as effectively as a few million.

How Hardware Wallets Work

Hardware wallets are secure, offline devices. They store your private keys offline so they can’t be hacked.

This means you can even use one on a malware infected computer.

Why A Hardware Wallet with a Screen is Significant

In the table below, you’ll notice we display which hardware wallets have screens.

Screens provide extra security by verifying and displaying significant wallet details. Since the hardware wallet is almost unlikely to hack, its screen is more trustworthy than data displayed on your computer.

Bitcoin Hardware Wallet Comparison

Check the table below for a quick comparison. Note:

Best Bitcoin Hardware Wallet Overviews

Ledger Nano S Buy Learn More

The Ledger Nano S is the cheapest of the three hardware wallets with a screen; it costs about $65. Ledger, one of the most well-known Bitcoin security companies, released the device in August 2016.

TREZOR Buy Learn More

TREZOR launched in August two thousand fourteen as the very first Bitcoin hardware wallet, suggesting secure bitcoin storage plus the capability to spend with the convenience of a hot wallet. TREZOR is a petite, thumb-sized device.

KeepKey Buy Learn More

KeepKey was released in September two thousand fifteen and was the 2nd hardware Bitcoin wallet to suggest a screen. The KeepKey’s larger screen gives it some extra security features that the Nano S and Trezor lack.

Ledger HW.1 Buy Learn More

The Ledger HW.1 can be considered a budget hardware wallet. It doesn’t have a screen, so it isn’t fairly as secure as the three options mentioned above. It will, however, give you more security than a hot wallet.

Chapter Four

Hot Wallets

Just a quick refresher:

Hot wallets are Bitcoin wallets that run on internet connected devices like a computer, mobile phone, or tablet. As hot wallets generate private keys on an internet connected device, these private keys can’t be considered 100% secure.

Think of a hot wallet like your wallet today: you use it to store some cash, but not your life savings. Hot wallets are excellent if you make frequent payments, but not a good choice for the secure storage of bitcoins.

Online Bitcoin Wallets (Web Wallets)

Web wallets store your private keys online, where they are encrypted with a user-selected password. Albeit they suggest the lowest level of security, online bitcoin wallets have the advantage of being accessible from any internet connected device.

GreenAddress

GreenAddress is a multi-signature Bitcoin wallet available on the web, desktop, Android, and iOS. GreenAddress is compatible with hardware wallets like TREZOR, Ledger Nano, and the HW.1.

“Multi-signature” in this context means that the site requires a manual confirmation from you for your coins to be moved; this greatly improves security.

Android Bitcoin Wallets

There is a large selection of Android wallets. Since Bitcoin wallets were originally banned by Apple, developers spent much of their time developing for Android.

Mycelium

Mycelium is the most popular Bitcoin wallet on Android. It’s very effortless to use for sending and receiving payments. Backing up your wallet is also plain, since Mycelium makes it very clear with setup and backup instructions.

breadwallet

breadwallet, the good iPhone Bitcoin wallet, recently released an Android wallet. It offers the user control of private keys, an effortless to use interface, and passcode support.

Copay

The Copay Bitcoin wallet is also available for Android. It’s effortless to use and offers many advanced features that suggest fine plasticity.

Airbitz

Airbitz is an effortless to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people fresh to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.

GreenBits

GreenBits is the native Android version of GreenAddress. It’s a multi-signature wallet that also supports hardware wallets like TREZOR and Ledger.

Bitcoin Wallet

Bitcoin Wallet, or “Schildbach Wallet”, was the very first mobile Bitcoin wallet. Bitcoin Wallet is more secure than most mobile Bitcoin wallets, because it connects directly to the Bitcoin network. Bitcoin Wallet has a ordinary interface and just the right amount of features, making it a fine wallet and a good educational device for Bitcoin beginners.

iOS and iPhone Bitcoin Wallets

Apple banned Bitcoin wallets from the App Store in February 2014, but reversed its decision a few months later. Fortunately, there are now slew of options for iOS users.

breadwallet

We consider breadwallet, along with Copay (below), as the best bitcoin wallet for iPhone. It’s open source and gives the user total control over their private keys. It also has a clean interface which makes the sending and receiving of bitcoins a pleasurable and super-simple process.

Copay

Copay Bitcoin wallet is BitPay’s open source wallet. It can be used across numerous devices, since Copay is available for Android, Windows Phone, iOS, and all desktop platforms. Among many other superb features, it’s effortless to create numerous accounts so you can have separate wallets for your business and individual funds.

Airbitz

Airbitz is an effortless to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people fresh to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.

Desktop Wallets

Desktop wallets are downloaded and installed on your computer. If privacy is your main concern, the Bitcoin core wallet is a good option since it does not rely on third parties for data.

Electrum

Electrum is a light weight Bitcoin wallet for Mac, Linux, and Windows. Electrum was created in November 2011. The main features of Electrum are: support for hardware wallets (such as TREZOR, Ledger Nano and KeepKey), and secure Bitcoin storage using an offline computer. Electrum is a good option for both beginners and advanced users.

Copay

Last, but not least, Copay is also available on desktop. Its desktop app gives you the capability to manage your hardware wallets, along with all of the other features mentioned above.

Chapter Five

Bitcoin Banks: $1 Billion Lost in Hacks

One last thing to keep in mind when it comes to bitcoin wallets is that there is a difference inbetween a wallet and a bank. Some Bitcoin users view Coinbase as a Bitcoin wallet, but companies like this operate much more like banks.

The private keys are what users need to protect to securely use the Bitcoin network without getting robbed. When you forearm someone else control over your private keys, you are essentially making a deposit at that financial institution – much like a deposit at any bank.

Don’t store coins on exchanges! Bitcoin users have lost over $1 billion worth of bitcoins in exchange hacks and scams. Control your own private keys. If you need help, then ask your questions in our Ask section.

This is not to say that bitcoin banks are inherently bad. Companies like Coinbase have done wonders for bringing more users into the ecosystem. It is simply significant to reminisce that whoever controls the private keys controls the bitcoin fastened to those keys.

A misunderstanding of this point has led to hundreds of millions of US dollars being lost in the past, so it’s significant to understand this critical difference in how Bitcoin private keys can be stored.

Understanding how bitcoin wallets work is an significant aspect of securely using this fresh technology. Bitcoin is still in its early years of development and wallets will become much more user-friendly in time.

In the near future, certain devices may eventually come with pre-installed wallets that interact with the blockchain without the user’s skill.

For now, it’s vital to keep in mind that the private keys are what you need to protect if you want to keep your bitcoin safe from hackers, user error, and other possible issues.

Chapter 6

Theft and Scams

No matter which wallet you choose, recall:

Your bitcoins are only safe if the private key was generated securely, remains a secret, and–most importantly–is managed only by YOU!

Here are two examples where users got ripped off by leaving bitcoins in the care of a third party:

To avoid theft, scams, and any other loss of funds, go after these three basic principles:

  1. Generate your private keys in a secure, offline environment. (Except if using trivial amounts, in which cases keys may be created in a hot wallet).
  2. Create backups of your private keys. This helps to protect against the loss of your bitcoins due to hard drive failure or some other problem or accident. Ideally you should have a duplicate set of backups kept off-site to protect against the possibility of fire, robbery, etc.
  3. Encrypt wallets to provide extra security. This helps prevent the physical theft of your funds in the event that your device or hardware wallet is stolen.

Securing your bitcoins decently is the most significant step for any Bitcoin user.

With Bitcoin you have the privilege – but also the responsibility – to safeguard your own money. There have been uncountable scams related to Bitcoin that could have been prevented had people not entrusted others with their bitcoins.

It’s a good rule of thumb to never trust anyone else with your money.

Bonus Chapter

Bitcoin Wallet Frequently Asked Questions

Bitcoin wallets. What are they?

Bitcoin Wallets let us send, receive and store Bitcoin amounts all the way down to the Satoshi unit.

Wallets secure funds by guarding our private keys. These private keys act as the proof of ownership for our Bitcoins. As such, a Bitcoin wallet is like a key to your safe deposit box on the Blockchain.

What is a private key?

Private keys emerged as a way to communicate securely through insecure communication channels.

Historically, before the advent of public key cryptography, the greatest cryptographic weakness was the inability to communicate the ‘key’ that makes sense of encrypted messages. As a solution, the use of two keys (public and private) entered the picture.

It’s a nifty little trick.

Keys come in pairs. The public key is used to encrypt the message whereas the private key decrypts the message. The only person with the private key is you. Everyone else is free to have your public key. As a result, everyone can send you encrypted messages without having to agree on a key beforehand. They simply use your public key and you untangle the gibberish by using your private key.

Why should I care about private keys?

At the end of the day, all of this can go over your head without much danger. Just reminisce that it’s good to know what you’re dealing with. Bitcoin wallets make use of a fundamental cryptographic principle that we use for things ranging from https for websites or sending anonymous tips to Wikileaks. Most importantly, by understanding private keys you’ll have a much lighter familiarizing yourself with Cold Storage wallets.

What is a Bitcoin address?

A Bitcoin address is like an account number, just better. The address denotes which wallet the coins should be sent to. Like a bank account number, where the difference lies in the wallets having numerous addresses. These can be customized by including payment request information such as an amount and a date of expiration.

What should I know about addresses?

Bitcoin wallet addresses are case sensitive, usually have thirty four characters of numbers and lowercase letters, begin with either a one or a Trio, and never use 0, O, l and I to make every character in the address as clear as possible. That’s a lot to take in. But don’t worry. What they consist of is largely irrelevant to you. Just know they’re a string of characters that denote a destination on the Bitcoin Blockchain.

How do I generate a Bitcoin address for my wallet?

How to generate a fresh Bitcoin Address varies inbetween wallets. Some manage your addresses for you. Others give you utter control. As with many other Bitcoin technologies, the option to dirty your own mitts is always open.

If you do end up taking the lighter route, just press a button to generate a fresh address for your wallet.

Some wallets, like Electrum, permit you choose in how many blocks your transaction should be confirmed. The swifter you want your payment to go through, the more you will have to pay miners for confirming your activity. We find here another difference inbetween Bitcoin wallets and Bank accounts. Given the right wallet, the control and oversight that we have over our transactions is far more extensive than that of the traditional banking system.

How do I fund a Bitcoin Wallet?

Very first, acquire some Bitcoins. Go through an exchange in your country, ask an acquaintance to share, or use Buybitcoinworldwide.com if you want as seamless of an practice as possible. The purchased coins can then be sent to your wallet by specifying one of its addresses.

Some wallets, particularly online ones, also let you buy coins. Keep in mind that these come with larger exchange margins which are best left alone.

Are Bitcoins safe?

Is Bitcoin a safe way to store value digitally? Are we wise to save our coins on our computer? It’s true that online wallets are necessarily more dangerous than offline wallets. However, even offline wallets can be breached, meaning that security in the Bitcoin world depends largely on following good practices. Just like you would avoid flailing your bills about in a dangerous place, you should make sure to keep your passwords and keys as safe as possible.

How do I secure my Wallet?

  • Secure your computer
  • Restrict unsupervised access. Set a strong password and close all ports and maintain a stringent firewall.
  • Frequently switch address. Use a different address for every transaction.
  • Numerous Signatures (Multi-sig). Numerous private keys to deter breaches.

Where are Bitcoins stored?

Bitcoins simply consist of a string of data. That’s why they can be stored anywhere. You could paint Bitcoin on a wall with your blood. Nobody does that however. Hopefully.

Instead, we store BTC on computers because we need them handy to trade. After all, we need to be connected to the internet to send value from one wallet to another over the Blockchain.

How do I open a Bitcoin account?

To some readers this might seem like a weird question. Truth is, people coming from a financial or business background are likely to expect Bitcoin to be a direct alternative to our current financial system. This is not the case.

You don’t need a Bitcoin account. There is no such thing truly. You just need a wallet. The only accounts you might encounter are online wallets that are separated into various accounts via a user system.

What types of wallets are there?

  • Online
    • Web-wallet. Accessed via web-browser. Access to money gained through username or password.
  • Offline
    • Desktop
      • Access gained via physical access to computer.
    • Mobile
      • Access gained via physical access to phone.
  • Hardware (Cold Storage)
    • Paper, Brain, Hardware
      • Hardware wallets delimit access of your funds to the hardware device alone. The coins are stored in a microcontroller, and are to be transferred only when authorized.
      • The act of storing of your wallet’s private keys in a way that is entirely detached from a network.

How do I know which wallet is best for me?

Let’s be fair. It’s unreasonable to expect anyone else to make this decision for you. After all, your preference depends entirely on your personality and needs. So just be fair with yourself.

Frankly, you shouldn’t need anything complicated if you’re using the wallet for plain internet expenses or as a way to save money.

If, however, you’re planning to run a Bitcoin centered business make sure to use advanced wallets that support automated mass payments.

Any common mistakes to be careful of?

Very first of all, don’t rest your money in an exchange wallet. Keep your coins in an environment where you have accomplish control.

Secondly, don’t keep all of your coins in one place. You’ll be crushed if you lose access to a wallet with all of your funds.

Thirdly, dual check the target address. Bitcoin transactions cannot be reversed, so don’t lose your coins forever to a stranger!

Last of all, use trusted online wallets (if at all). Don’t just trust anyone with your money. Make sure that the online wallet provider has a reputation of upholding the highest possible security standards.

11 Best Bitcoin Wallet Hardware & App Reviews two thousand seventeen

Which is the Best Bitcoin Wallet?

This guide will help you to find the best Bitcoin wallet for YOU!

There’s no “one size fits all” Bitcoin wallet. Wallets come on different platforms with different features.

If you want the best possible wallet, keep reading.

Chapters

Chapter 1

What is a Bitcoin Wallet?

A Bitcoin wallet is the very first step to using Bitcoin.

Without a wallet, you can’t receive, store, or spend bitcoins.

You can think of a wallet as your individual interface to the Bitcoin network, similar to how your online bank account is an interface to the regular monetary system.

Bitcoin wallets contain private keys; secret codes that permit you to spend your bitcoins.

In reality, it’s not bitcoins that need to be stored and secured, but the private keys that give you access to them.

A Bitcoin wallet is simply an app, website, or device that manages Bitcoin private keys for you.

Chapter Two

Types of Bitcoin Wallets

Let’s discuss the types of bitcoin wallets and why you might want to use one kind over another.

Hardware Wallets

A hardware wallet is a physical electronic device, built for the foot purpose of securing bitcoins.

The core innovation is that the hardware wallet must be connected to your computer, phone, or tablet before bitcoins may be spent.

The three most popular and best Bitcoin hardware wallets are:

Hardware wallets are a good choice if you’re serious about security and convenient, reliable Bitcoin storage.

Bitcoin hardware wallets keep private keys separate from vulnerable, internet-connected devices.

Your all-important private keys are maintained in a secure offline environment on the hardware wallet, fully protected even should the device be plugged into a malware-infected computer.

As bitcoins are digital, cyber-criminals could, potentially, target your computer’s “software wallet” and steal them by accessing your private key.

Generating and storing private keys offline using a hardware wallet ensures that hackers have no way to reach your bitcoins.

Hackers would have to steal the hardware wallet itself, but even then, it can be protected with a PIN code.

Don’t worry about your hardware wallet getting stolen, lost or bruised either; so long as you create a secret backup code, you can always retrieve your bitcoins.

Think of a hardware wallet like your own underground steel vault. If you own a significant amount of bitcoins, you should strongly consider getting one!

Why are hardware wallets good?

  • Easiest way to securely store bitcoins
  • Effortless to backup and secure
  • Less margin for error; setup is effortless even for less technical users

Why are hardware wallets bad?

  • They’re not free!

Hot Wallets

Hot wallets are Bitcoin wallets that run on internet connected devices like a computer, mobile phone, or tablet.

Private keys are secret codes. Because hot wallets generate your private keys on an internet connected device, these private keys can’t be considered 100% secure.

Think of a hot wallet like your wallet today: you use it to store some cash, but not your life savings. Hot wallets are fine if you make frequent payments, but not a good choice for the secure storage of bitcoins.

Why are hot wallets good?

  • Easiest way to store petite amounts of bitcoin
  • Convenient; spending and receiving payments is effortless and rapid
  • Some hot wallets permit access to funds across numerous devices

Why are hot wallets bad?

  • Not safe for the secure storage of large amounts of bitcoins

Which Wallet is Best for You?

Investing or saving? Then a hardware wallet will keep your coins safe.

Otherwise, a software wallet will send and receive bitcoins just fine. Best of all, software wallets are free.

Each wallet has pros and cons, and different wallets are built to solve different problems.

Some wallets may be geared towards security, while some wallets may be more focused on privacy.

Your specific needs should determine the wallet you use, as there is no “best bitcoin wallet”.

Below, we’ve listed wallets you can buy or download. We suggest using the wallets listed or doing research before buying or downloading any wallet.

Each day, fresh Bitcoin scam wallets are added to the Google Play Store and Apple app store that are designed to steal peoples’ bitcoins.

We only list wallets that have published and open-sourced their code.

Chapter Three

Hardware Wallets: Keep Your Coins Safe

Hardware wallets aren’t free.

But the price can be worth it if you own a significant amount of bitcoins. A hardware wallet will protect a few hundred in Bitcoin just as effectively as a few million.

How Hardware Wallets Work

Hardware wallets are secure, offline devices. They store your private keys offline so they can’t be hacked.

This means you can even use one on a malware infected computer.

Why A Hardware Wallet with a Screen is Significant

In the table below, you’ll notice we demonstrate which hardware wallets have screens.

Screens provide extra security by verifying and displaying significant wallet details. Since the hardware wallet is almost unlikely to hack, its screen is more trustworthy than data displayed on your computer.

Bitcoin Hardware Wallet Comparison

Check the table below for a quick comparison. Note:

Best Bitcoin Hardware Wallet Overviews

Ledger Nano S Buy Learn More

The Ledger Nano S is the cheapest of the three hardware wallets with a screen; it costs about $65. Ledger, one of the most well-known Bitcoin security companies, released the device in August 2016.

TREZOR Buy Learn More

TREZOR launched in August two thousand fourteen as the very first Bitcoin hardware wallet, suggesting secure bitcoin storage plus the capability to spend with the convenience of a hot wallet. TREZOR is a petite, thumb-sized device.

KeepKey Buy Learn More

KeepKey was released in September two thousand fifteen and was the 2nd hardware Bitcoin wallet to suggest a screen. The KeepKey’s larger screen gives it some extra security features that the Nano S and Trezor lack.

Ledger HW.1 Buy Learn More

The Ledger HW.1 can be considered a budget hardware wallet. It doesn’t have a screen, so it isn’t fairly as secure as the three options mentioned above. It will, however, give you more security than a hot wallet.

Chapter Four

Hot Wallets

Just a quick refresher:

Hot wallets are Bitcoin wallets that run on internet connected devices like a computer, mobile phone, or tablet. As hot wallets generate private keys on an internet connected device, these private keys can’t be considered 100% secure.

Think of a hot wallet like your wallet today: you use it to store some cash, but not your life savings. Hot wallets are excellent if you make frequent payments, but not a good choice for the secure storage of bitcoins.

Online Bitcoin Wallets (Web Wallets)

Web wallets store your private keys online, where they are encrypted with a user-selected password. Albeit they suggest the lowest level of security, online bitcoin wallets have the advantage of being accessible from any internet connected device.

GreenAddress

GreenAddress is a multi-signature Bitcoin wallet available on the web, desktop, Android, and iOS. GreenAddress is compatible with hardware wallets like TREZOR, Ledger Nano, and the HW.1.

“Multi-signature” in this context means that the site requires a manual confirmation from you for your coins to be moved; this greatly improves security.

Android Bitcoin Wallets

There is a large selection of Android wallets. Since Bitcoin wallets were originally banned by Apple, developers spent much of their time developing for Android.

Mycelium

Mycelium is the most popular Bitcoin wallet on Android. It’s very effortless to use for sending and receiving payments. Backing up your wallet is also ordinary, since Mycelium makes it very clear with setup and backup instructions.

breadwallet

breadwallet, the good iPhone Bitcoin wallet, recently released an Android wallet. It offers the user control of private keys, an effortless to use interface, and passcode support.

Copay

The Copay Bitcoin wallet is also available for Android. It’s effortless to use and offers many advanced features that suggest fine plasticity.

Airbitz

Airbitz is an effortless to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people fresh to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.

GreenBits

GreenBits is the native Android version of GreenAddress. It’s a multi-signature wallet that also supports hardware wallets like TREZOR and Ledger.

Bitcoin Wallet

Bitcoin Wallet, or “Schildbach Wallet”, was the very first mobile Bitcoin wallet. Bitcoin Wallet is more secure than most mobile Bitcoin wallets, because it connects directly to the Bitcoin network. Bitcoin Wallet has a elementary interface and just the right amount of features, making it a good wallet and a good educational implement for Bitcoin beginners.

iOS and iPhone Bitcoin Wallets

Apple banned Bitcoin wallets from the App Store in February 2014, but reversed its decision a few months later. Fortunately, there are now slew of options for iOS users.

breadwallet

We consider breadwallet, along with Copay (below), as the best bitcoin wallet for iPhone. It’s open source and gives the user total control over their private keys. It also has a clean interface which makes the sending and receiving of bitcoins a pleasurable and super-simple process.

Copay

Copay Bitcoin wallet is BitPay’s open source wallet. It can be used across numerous devices, since Copay is available for Android, Windows Phone, iOS, and all desktop platforms. Among many other fine features, it’s effortless to create numerous accounts so you can have separate wallets for your business and private funds.

Airbitz

Airbitz is an effortless to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people fresh to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.

Desktop Wallets

Desktop wallets are downloaded and installed on your computer. If privacy is your main concern, the Bitcoin core wallet is a good option since it does not rely on third parties for data.

Electrum

Electrum is a light weight Bitcoin wallet for Mac, Linux, and Windows. Electrum was created in November 2011. The main features of Electrum are: support for hardware wallets (such as TREZOR, Ledger Nano and KeepKey), and secure Bitcoin storage using an offline computer. Electrum is a good option for both beginners and advanced users.

Copay

Last, but not least, Copay is also available on desktop. Its desktop app gives you the capability to manage your hardware wallets, along with all of the other features mentioned above.

Chapter Five

Bitcoin Banks: $1 Billion Lost in Hacks

One last thing to keep in mind when it comes to bitcoin wallets is that there is a difference inbetween a wallet and a bank. Some Bitcoin users view Coinbase as a Bitcoin wallet, but companies like this operate much more like banks.

The private keys are what users need to protect to securely use the Bitcoin network without getting robbed. When you arm someone else control over your private keys, you are essentially making a deposit at that financial institution – much like a deposit at any bank.

Don’t store coins on exchanges! Bitcoin users have lost over $1 billion worth of bitcoins in exchange hacks and scams. Control your own private keys. If you need help, then ask your questions in our Ask section.

This is not to say that bitcoin banks are inherently bad. Companies like Coinbase have done wonders for bringing more users into the ecosystem. It is simply significant to reminisce that whoever controls the private keys controls the bitcoin affixed to those keys.

A misunderstanding of this point has led to hundreds of millions of US dollars being lost in the past, so it’s significant to understand this critical difference in how Bitcoin private keys can be stored.

Understanding how bitcoin wallets work is an significant aspect of securely using this fresh technology. Bitcoin is still in its early years of development and wallets will become much more user-friendly in time.

In the near future, certain devices may eventually come with pre-installed wallets that interact with the blockchain without the user’s skill.

For now, it’s vital to keep in mind that the private keys are what you need to protect if you want to keep your bitcoin safe from hackers, user error, and other possible issues.

Chapter 6

Theft and Scams

No matter which wallet you choose, recall:

Your bitcoins are only safe if the private key was generated securely, remains a secret, and–most importantly–is managed only by YOU!

Here are two examples where users got ripped off by leaving bitcoins in the care of a third party:

To avoid theft, scams, and any other loss of funds, go after these three basic principles:

  1. Generate your private keys in a secure, offline environment. (Except if using trivial amounts, in which cases keys may be created in a hot wallet).
  2. Create backups of your private keys. This helps to protect against the loss of your bitcoins due to hard drive failure or some other problem or accident. Ideally you should have a duplicate set of backups kept off-site to protect against the possibility of fire, robbery, etc.
  3. Encrypt wallets to provide extra security. This helps prevent the physical theft of your funds in the event that your device or hardware wallet is stolen.

Securing your bitcoins decently is the most significant step for any Bitcoin user.

With Bitcoin you have the privilege – but also the responsibility – to safeguard your own money. There have been innumerable scams related to Bitcoin that could have been prevented had people not entrusted others with their bitcoins.

It’s a good rule of thumb to never trust anyone else with your money.

Bonus Chapter

Bitcoin Wallet Frequently Asked Questions

Bitcoin wallets. What are they?

Bitcoin Wallets let us send, receive and store Bitcoin amounts all the way down to the Satoshi unit.

Wallets secure funds by guarding our private keys. These private keys act as the proof of ownership for our Bitcoins. As such, a Bitcoin wallet is like a key to your safe deposit box on the Blockchain.

What is a private key?

Private keys emerged as a way to communicate securely through insecure communication channels.

Historically, before the advent of public key cryptography, the greatest cryptographic weakness was the inability to communicate the ‘key’ that makes sense of encrypted messages. As a solution, the use of two keys (public and private) entered the picture.

It’s a nifty little trick.

Keys come in pairs. The public key is used to encrypt the message whereas the private key decrypts the message. The only person with the private key is you. Everyone else is free to have your public key. As a result, everyone can send you encrypted messages without having to agree on a key beforehand. They simply use your public key and you untangle the gibberish by using your private key.

Why should I care about private keys?

At the end of the day, all of this can go over your head without much danger. Just recall that it’s good to know what you’re dealing with. Bitcoin wallets make use of a fundamental cryptographic principle that we use for things ranging from https for websites or sending anonymous tips to Wikileaks. Most importantly, by understanding private keys you’ll have a much lighter familiarizing yourself with Cold Storage wallets.

What is a Bitcoin address?

A Bitcoin address is like an account number, just better. The address denotes which wallet the coins should be sent to. Like a bank account number, where the difference lies in the wallets having numerous addresses. These can be customized by including payment request information such as an amount and a date of expiration.

What should I know about addresses?

Bitcoin wallet addresses are case sensitive, usually have thirty four characters of numbers and lowercase letters, embark with either a one or a Trio, and never use 0, O, l and I to make every character in the address as clear as possible. That’s a lot to take in. But don’t worry. What they consist of is largely irrelevant to you. Just know they’re a string of characters that denote a destination on the Bitcoin Blockchain.

How do I generate a Bitcoin address for my wallet?

How to generate a fresh Bitcoin Address varies inbetween wallets. Some manage your addresses for you. Others give you total control. As with many other Bitcoin technologies, the option to dirty your own arms is always open.

If you do end up taking the lighter route, just press a button to generate a fresh address for your wallet.

Some wallets, like Electrum, permit you choose in how many blocks your transaction should be confirmed. The swifter you want your payment to go through, the more you will have to pay miners for confirming your activity. We find here another difference inbetween Bitcoin wallets and Bank accounts. Given the right wallet, the control and oversight that we have over our transactions is far more extensive than that of the traditional banking system.

How do I fund a Bitcoin Wallet?

Very first, acquire some Bitcoins. Go through an exchange in your country, ask an acquaintance to share, or use Buybitcoinworldwide.com if you want as seamless of an practice as possible. The purchased coins can then be sent to your wallet by specifying one of its addresses.

Some wallets, particularly online ones, also let you buy coins. Keep in mind that these come with larger exchange margins which are best left alone.

Are Bitcoins safe?

Is Bitcoin a safe way to store value digitally? Are we wise to save our coins on our computer? It’s true that online wallets are necessarily more dangerous than offline wallets. However, even offline wallets can be breached, meaning that security in the Bitcoin world depends largely on following good practices. Just like you would avoid flailing your bills about in a dangerous place, you should make sure to keep your passwords and keys as safe as possible.

How do I secure my Wallet?

  • Secure your computer
  • Restrict unsupervised access. Set a strong password and close all ports and maintain a rigorous firewall.
  • Frequently switch address. Use a different address for every transaction.
  • Numerous Signatures (Multi-sig). Numerous private keys to deter breaches.

Where are Bitcoins stored?

Bitcoins simply consist of a string of data. That’s why they can be stored anywhere. You could paint Bitcoin on a wall with your blood. Nobody does that tho’. Hopefully.

Instead, we store BTC on computers because we need them handy to trade. After all, we need to be connected to the internet to send value from one wallet to another over the Blockchain.

How do I open a Bitcoin account?

To some readers this might seem like a weird question. Truth is, people coming from a financial or business background are likely to expect Bitcoin to be a direct alternative to our current financial system. This is not the case.

You don’t need a Bitcoin account. There is no such thing truly. You just need a wallet. The only accounts you might encounter are online wallets that are separated into various accounts via a user system.

What types of wallets are there?

  • Online
    • Web-wallet. Accessed via web-browser. Access to money gained through username or password.
  • Offline
    • Desktop
      • Access gained via physical access to computer.
    • Mobile
      • Access gained via physical access to phone.
  • Hardware (Cold Storage)
    • Paper, Brain, Hardware
      • Hardware wallets delimit access of your funds to the hardware device alone. The coins are stored in a microcontroller, and are to be transferred only when authorized.
      • The act of storing of your wallet’s private keys in a way that is totally detached from a network.

How do I know which wallet is best for me?

Let’s be fair. It’s unreasonable to expect anyone else to make this decision for you. After all, your preference depends entirely on your personality and needs. So just be fair with yourself.

Frankly, you shouldn’t need anything complicated if you’re using the wallet for ordinary internet expenses or as a way to save money.

If, however, you’re planning to run a Bitcoin centered business make sure to use advanced wallets that support automated mass payments.

Any common mistakes to be careful of?

Very first of all, don’t rest your money in an exchange wallet. Keep your coins in an environment where you have accomplish control.

Secondly, don’t keep all of your coins in one place. You’ll be crushed if you lose access to a wallet with all of your funds.

Thirdly, dual check the target address. Bitcoin transactions cannot be reversed, so don’t lose your coins forever to a stranger!

Last of all, use trusted online wallets (if at all). Don’t just trust anyone with your money. Make sure that the online wallet provider has a reputation of upholding the highest possible security standards.

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