Well, let’s start this article assuming that you know where to buy bitcoin online but if you don’t know, here is a small summary.
In Bitnovo you can buy with a credit card, all the bitcoins you want, it is really easy since you only have to enter the number of bitcoins you want, then you select the preferred payment method and after verifying your identity they will be deposited in the bitcoin wallet of your choice.
Now that we remember how easy it is to buy bitcoins here in bitnovo I will tell you about the types of virtual wallets in them we can find paper wallets, we can also find software wallets that vary between mobile wallets and desktop wallets and hardware wallets, in the end we can divide all these into whether they are cold wallets or hot wallets.
What are cold wallets?
Good to identify that it is a cold wallet is easy, is the kind of wallets that are not connected to the internet and are called cold storage, like the paper wallets that practically give you a pin code with which you can access your bitcoins, you have to have a lot Be careful because, if you lose this pin code, you will lose access to your bitcoins, and hardware wallets that are a USB that when you connect it to your computer, it logs into your wallet.
What are hot wallets?
And now the hot wallets are practically the opposite, they are the ones that are online 24/7 unless there is an error, but this normally does not happen, these are the mobile wallets and the desktop wallets if you configured them to be connected all the time and you keep them a stable internet connection.
What can we say about them? Well, they are extremely functional, you can send and receive any bitcoin transaction whenever you want, these wallets being online at all times need a line of defense that is not so necessary in cold wallets.
What is a factor authentication?
To ensure that no one besides the owner can access it requires that you add a phone number as well or a way where a code can be sent to you, if you really want to secure your bitcoins you can apply a multi signature that will add an extra defense, this will ask you to access 2 codes that will be sent in a specified way you select, such as sending them to the mail and to the telephone.
Top 3 cold wallets
In the market we can find multiple varieties of cold wallets that highlight and prioritize certain functions over others.
Trezor Modelo T
The Model T is the latest development from Satoshi Labs, the first company to produce hardware wallets in the world. This cool wallet incorporates a touch screen and allows you to store various cryptocurrencies including Bitcoin, Ethereum or Dash.
Pros: Allows conversion to fiat money.
Cons: The price is one of the highest in the market.
Ledger Nano X
Developed by a French company, this model looks like a USB pendrive and can be connected to any mobile device or computer via bluetooth or via USB. This cool wallet supports more than 30 cryptocurrencies, including Bitcoin, Ethereum, Dash, or Litecoin.
Pros: Ledger is the world’s most popular cold wallet provider so the device is highly integrated at the software level.
Cons: Although it is the only company that incorporates USB connectivity, this is seen as a possible attack vector for much of the industry.
Ledger Nano X
Developed by a French company, this model looks like a USB pendrive and can be connected to any mobile device or computer via bluetooth or via USB. This cool wallet supports more than 30 cryptocurrencies, including Bitcoin, Ethereum, Dash, or Litecoin.
Pros: Ledger is the world’s most popular cold wallet provider so the device is highly integrated at the software level.
Cons: Although it is the only company that incorporates USB connectivity, this is seen as a possible attack vector for much of the industry.
Keep Key
It looks relatively similar to the Ledger but incorporates a much more comfortable screen for reading. It is a product of Shapeshift, one of the companies with great credibility in the crypto environment.
Pros: Its screen stands out for its high readability and allows synchronization with the Shapeshift wallet, which allows for very easy transactions.
Cons: It does not yet have a large community like Trezor or Ledger and can only be used when connected via USB.
To finish most of these wallets are open source which makes them user friendly, you can start doing crypto exchange once you select your kind of crypto wallet, whether you choose a cold wallet or a hot wallet, these types of wallets have their pros and cons but the two are excellent to start trading bitcoins or save them and let grow your investment.
