What is Bitcoin?
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. It is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros. The system is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. More About Bitcoin
What is bitcoin wallet and bitcoin address?
A Bitcoin Wallet is basically the Bitcoin equivalent of a bank account. It contains all the information about user's balance, transactions history, etc. If you wish to work with bitcoins, you should possess a Bitcoin Wallet first. It allows you to store bitcoins, send and receive payments immediately. Just like a bank account which has an assigned unique bank account number, your Bitcoin wallet has an assigned unique wallet address.
Generally, Bitcoin wallets don’t actually store Bitcoins. Instead, wallets consist of two keys, a public key and a private key, that are used to associate particular Bitcoins with your wallet. The public key allows you to receive Bitcoins, while the private key allows you to spend Bitcoins.
BTC wallets come in a variety of forms, designed for different types of device. You can even use paper storage to avoid having them on a computer at all. There are five main types of wallet: desktop, mobile, web, paper and hardware. Which wallet you choose depends on whether utmost security or increased convenience is more important, and it’s recommended that you don’t stick to one particular type of wallet. Here’s a list of Top and Best Wallets for secure Bitcoin storage.
Best Bitcoin Wallets (2017 Update)
Note: It is very important to secure and back up your Satoshi wallet. Once you create an account, make sure to backup your wallet. Always store your wallet information (private keys) in a safe and secure place in a printed form or on a secondary storage media such as a USB drive. Never keep your wallet data on your computer.
Bitcoin Core is the original Bitcoin wallet, originally developed by Satoshi Nakamoto. It requires the entire blockchain to run. Bitcoin Core is available on Windows, Linux and Mac, and is also available as a Ubuntu PPA.
MultiBit is the bitcoin wallet for your desktop. It currently works with Windows, Mac OSX, and Linux. It doesn’t need to download the entire blockchain to access, send and receive funds. Multibit connects directly to the Bitcoin network and downloads only a small part of the blockchain, making it very fast to use.
Electrum is another lightweight Bitcoin wallet. It lets you perform Bitcoin transactions without having to download the entire blockchain, making transactions a lot faster. Electrum is available for Windows, Mac, Linux and Android.
Armory is one of the most feature-rich and secure software Bitcoin wallets available today. It requires the official Bitcoin Core wallet, since Armory doesn’t have any networking features. Armory is available on Windows, Mac and Linux. It’s also available as a Ubuntu PPA.
Blockchain Wallet is an online bitcoin wallet that allows anyone to make worldwide payments for free. Blockchain not only lets you back your wallet up automatically onto Google Drive or Dropbox, but also lets you download your wallet manually. Blockchain also performs regular off-site server side backups every hour. There’s even a mobile wallet version of Blockchain for Android.
Coinbase is an online Bitcoin account, somewhat similar to PayPal. Coinbase also has a built-in Bitcoin exchange where you can buy and sell Bitcoin, and lets you send and receive money directly to and from email addresses. There is also a Coinbase Android app.
Xapo aims to provide the convenience of an simple bitcoin wallet with the added security of a cold-storage vault.
Block.io is a multi-currency online wallet. You can manage your Bitcoin, Dogecoin and Litecoin in one place.
HolyTransaction is the universal cryptocurrency wallet with instant exchange. Access Bitcoin, Litecoin, Dogecoin, Peercoin, Dash, Ethereum, Gridcoin, Blackcoin and Omni Layer with all of its assets from one unified interface.
Cryptonator Online Wallet
Cryptonator is a free multi-cryptocurrency wallet with instant exchange. You can manage different cryptocurrencies in one personal account. Securely store, easily receive and quickly send Bitcoins, Litecoins, Dogecoins and other digital currencies. Combining usability with high level privacy, anonymity and security, Cryptonator Online Bitcoin Wallet offers free BTC accounts, which are accessible 24/7 worldwide on your laptop, desktop or mobile devices alike.
Exodus gives blockchain asset investors a platform to secure, exchange and manage wealth inside one application. It is the first desktop multi-asset wallet with ShapeShift built in. You can keep your Bitcoin, Ethereum, Litecoin, Dash and Dogecoin all in one place and easily calculate and organize your savings with their pie chart portfolio. The backup wizard will allow you to keep your wallet safe and ready for later use (Windows, Mac and Linux).
Jaxx Blockchain Wallet
Jaxx is a good Bitcoin and Altcoin wallet for all your devices (Windows, Apple and Linux desktop, Android and iOS mobile and tablet, Google Chrome and Firefox extensions). It provides a simple and intuitive interface for many altcoins. Your private keys are never shared with Jaxx’s server and are safely stored on your machine.
Jaxx is not just a Bitcoin wallet, it also support a lot of other major altcoins including: Ethereum (ETH and ETC), Dash, Augur (REP), Litecoin (LTC), Zcash (ZEC) and RSK.
ShapeShift has been integrated directly into Jaxx to allow for in-app conversion between all currencies Jaxx supports.