Best Bitcoin Wallets

Bitcoin wallets are important for storing your cryptocurrencies securely. Whether you are gambling in Bitcoins, Litecoins, Ripple, or other cryptocurrencies, moving your digital coins from the exchange to your wallet is highly recommended.

  • Find your favorite
    Best Bitcoin Betting Sites
  • There are lots of options and characteristics to keep in mind. Before you start head over to bitcoin betting sites, you will want to take a look at the wallets. Here we’ll guide you through this digital jungle.

    Bitcoin Guide

    Read our advanced guides for gambling with Bitcoin

    How to gamble with Bitcoin? How to buy Bitcoin?

    Bitcoin wallets are important for storing your cryptocurrencies securely. Whether you are gambling in Bitcoins, Litecoins, Ripple, or other cryptocurrencies, moving your digital coins from the exchange to your wallet is highly recommended.

  • Find your favorite
    Best Bitcoin Betting Sites
  • There are lots of options and characteristics to keep in mind. Before you start head over to bitcoin betting sites, you will want to take a look at the wallets. Here we’ll guide you through this digital jungle.

    Bitcoin Guide

    Read our advanced guides for gambling with Bitcoin

    How to gamble with Bitcoin? How to buy Bitcoin?

    What is a Bitcoin Wallet?

    While not technically true, you can think of your wallet as where you store your cryptocurrency. After buying your coins on an exchange such as Coinbase, you can transfer them to your wallet. There they will wait patiently until you decide to go have some fun at an online casino.

    In reality, wallets store the private keys that track BTC ownership. And Bitcoins themselves are stored in a public ledger. This is a technicality that does not affect how you use Bitcoin wallets.

    Bitcoin wallets generate come in the form of either an app or in external hardware, such as a USB or external hard drive.

    Hardware Bitcoin Wallet

    Hardware Bitcoin wallets are favored mainly for their increased security. To date, there are no reported incidents of Bitcoins being stolen from hardware wallets.

    These wallets are devices built exclusively for storing cryptocurrency. They can be external drives, or USB`s. Even if someone takes your drive, it is protected by a PIN.

    It is a good idea to create digital back-up copies of your keys, in case something should happen to your Bitcoin hardware wallet.

    One important drawback is that they are not free. Because it is a physical piece of hardware, you must purchase them.

    The most popular brands are Ledger Nano X and TREZOR T. Both will provide excellent security by storing your Bitcoins in hardware.

    How to Find the Best Bitcoin Wallets

    Finding the best Bitcoin wallet can be a daunting task. Yet, it is important, and worth taking your time to make sure you do what’s best for you.

    So what are the main things to consider when you are looking for the best Bitcoin wallet?

    Free or fees

    One of the most important things to consider is always our bottom line. If we are here to win big at casinos, we don’t want to lose our crypto coins before we ever get there.

    With wallets, you may incur fees at a few points. We recommend that you compare along these pressure points to see which ones shake out as the best deal.

    Some wallets charge at the moment of purchase. This is especially true for hardware wallets. You will have to buy those devices.

    Another point of possible fee is in transactions. It is normally cheaper (or free!) to receive, but there is often a fee for sending Bitcoins. It’s good to take note of this to get your best option.

    Security and Anonymity

    We are all concerned about keeping our money safe and secure. So, which Bitcoin wallets are best for keeping our cryptocurrencies safe?

    There are lots of assets to look for when evaluating the security features of different wallets.

    Two-factor authentication is trending among a number of online accounts. It normally requires a password and entering a code sent to a phone, for example.

    Offline wallets tend to be more secure than online wallets. Being online makes them easier to use for you, but also potentially easier to access for hackers. Some wallets are offline or offer offline options.

    Another important factor is the strength of the private encryption keys they provide. For online wallets look for one with at least 128-bit.

    Easy Wallets for Beginners

    Some Bitcoin wallets are more complicated than others, both in their setup and in running them on a daily basis. While ease is something we all value, you may lose out on security as ease increases.

    The easiest wallets will be those with apps. Apps are easy to navigate and generally have the few things you need to do with a wallet at your fingertips.

    Wallets that are also exchanges are pretty easy too. As you don’t have to pass them onto a new software, you can just make the one account. These tend to be a little less secure.

    Online wallets are also a little easier to use. As they are already connected, you just have to sign in and transfer. Offline wallets require the extra steps of connecting to the web to complete transactions.

    Coinbase

    The most user-friendly option is Coinbase. As an exchange and wallet in one, it saves you the extra step of finding another place. While hardware wallets are probably more secure, this trusted name is still pretty good.

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    Its main function is as an exchange. You can also keep your cryptocurrencies directly there. They allow you to hold many cryptocurrencies. As you can see in the screenshot.

     

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    In order to use Coinbase to send and receive cryptocurrencies to third parties, you will need to provide further ID verification. They call this “level 3” and involves taking a selfie, and a picture of an ID, and sending them in.

    This will open up the possibility to use Coinbase to do some Bitcoin gambling.

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    How to Use Your Wallet

    There are a few key uses for you within your Bitcoin wallet. This is mainly for sending and receiving. Other functions would include checking your balance.

    In order to receive money, you’ll need your address key. You can generate a new key every time you receive a payment as a way to increase anonymity. Send someone this address, or put it into an exchange, and you will be able to transfer Bitcoins into your wallet.

    To send money, you will need the address or the QR code of the recipient. While the details will vary, it basically involves clicking “send,” determining the amount and copying the recipient’s address code into the corresponding box.

    It’s fairly easy! And not very different from making a bank transfer!

    Finding Your Wallet Address

    We can help you find your Bitcoin wallet address. It is slightly different depending on the app.

    A very common form is that it is generated every time you click to “deposit” or “receive” cryptocurrencies. It is fine (even preferred) if you do not recognize the address, as this means they have generated a new address, increasing anonymity.

    Others, such as the popular Coinbase, have multiple addresses in the “Addresses” page. You can choose whichever address you want, as long as it works for the digital currency you wish to receive.

    • What is a Bitcoin Wallet?

      While not technically true, you can think of your wallet as where you store your cryptocurrency. After buying your coins on an exchange such as Coinbase, you...

    • How to Find the Best Bitcoin Wallets

      Finding the best Bitcoin wallet can be a daunting task. Yet, it is important, and worth taking your time to make sure you do what’s best for you.

      So wh...

    • How to Use Your Wallet

      There are a few key uses for you within your Bitcoin wallet. This is mainly for sending and receiving. Other functions would include checking your balance.

      I...