How to select the most suitable for your bitcoin wallet?
For bitcoin users, especially new users, a very common question is “what bitcoin wallet is best?” Because different users want the function and the actual needs is different, the answer to this question is different. Turnip greens, all have love. This article will talk about, when you create and use a bitcoin wallet, need the necessary things to consider.
Basic security features
Starting from the basic. You want to use a popular online wallet, like Blockchain.info? This is online wallet to control your private key. This will increase your potential for hackers prey. There are more Blockchain users than any wallet, so far there are millions of accounts were created in the top online wallet has never been proved, it is black
Or if you want to use a download and install a wallet or APP, which requires regular updates at the same time, compared with online wallet will also bring some convenience and loss, increased safety.
Check whether the wallet provider uses the internal data encryption and two step verification, which requires a password at the same time, also need to be online or offline independent verification code, will mail notification of your account behavior.
Where is your key?
The private key holder is bitcoin owners. The private key holder is bitcoin owners, the private key holder is bitcoin owners, something important to say three times. Do not believe you ask those in the bankruptcy of the Mentougou incident, the hapless lost underwear. No matter how a person looks trustworthy, they hold their own private key is always the right choice. The use of bitcoin wallet although considering the convenience and safety of choice, but don’t hold this point in private key concessions, the master of your own private key!
One of the great security innovation bitcoin brings, is a multi signature, in a few years ago, the multisignature technology does not exist. Multi signature often used in the long term, need offline storage, daily transactions, and not applied to individuals or entities so for an average of bitcoin users, multi signature is not practical.
If there are 3 private key, you have only one to two other private key signature to initiate a transaction, so that the probability of bitcoin theft is significantly reduced.
A private key can also by friends or relatives to master, and can be placed on a safety cabinet or stored offline. If you put some long-term bitcoin in a wallet, similar to the “cold wallet, multi signature is probably the best choice. However, remember, in any case do not give all your money in a purse.
Open source code Wallet
Wallet company may require you to provide personal information, you should also do the same to the body. The wallet code is open source, like coinmi’s wallet? Open wallet is now more common, but you’d better check.
In other words, what you want is a completely transparent operation, instead of standing in front of some companies, business will be subcontracted to other wallet you don’t understand it privately. You need to know this wallet is going on, who is their real protection.
HD wallet on behalf of layered confirmation, every time when the funds come in, it can generate a new public key, which greatly enhance the security of the. A lot of wallet only provides an address that allows a user to easily track the common address. If you don’t want to leave too much footprint on the Internet, HD wallet is a good choice.
Obey the VS identity protection
Some people are more likely to obey than others. Your information leaked online, will bring the risk of their own, now more and more wallet providers require the user’s personal information, in accordance with the requirements of government management.
These requirements are for the wallet providers, but also makes the wallet users were more likely to be tracking, assessment, and subjected to the attack of the center of the database involved, etc.. You have to decide whether you want the wallet providers and regulators’ lives easier, or to make your bitcoin transactions more anonymous.
The importance of location
Is the NSA or specification Bureau in your country? Where do you live? Where supervision is heavy? This is very important. Some places have never heard of bitcoin is unaware of its existence, here you bitcoin free of government intervention, and in some places, the government is planning to oppress bitcoin, or its tax, in order to repay the national debt.
If the purse in the wrong country provider, your bitcoin is likely to become the object of domestic rulers confiscated, or will follow your trading, you have to watch behind the wallet is involved in “terrorist activities”, you may want to think for a long time, how to deal with where you live and you where the problem occurred in the transaction.
Ease of use
Until now, in the bitcoin wallet world, safety and ease of use are often mutually exclusive. 一般来说，一个钱包越易用，它达到的安全性水平就越低。 Although this situation is improving, improving the efficiency.
You need the large block chain download, or you can download the Android or IOS custom APP wallet, so only used in your smartphone? If so, you need to set a different password for transactions into the wallet and.
If you lost the intelligent mobile phone, there are 5 coins in the bar. Your mobile phone when sleep mode no password settings, so if you picked up your wallet without password, mobile phone people can enter your wallet. So, in order to better security, when trading you should have another password, and not just in time to have a checking account.
You need to backup
Digital currency wallet great point is that they only digital computer files, like a photograph. You can copy them and store them in different places, to prevent your wallet virus infection or other unknown obstacles destroy your wallet.
Your wallet to provide backup service? Is encrypted? MultiBit HD automatically provide users with these functions. You can set how long backup time, in an emergency situation to its ease of use.
How to their reputation?
This is a double-edged sword, because a wallet as a brand of the longer, the more they could become a target for hackers, because the black out of that purse can have more. If you know a wallet, they can tell you how to work the specific process of the wallet, see this wallet is safe and practical, the best. This industry is only 6 years, you can get much information from it?
If the wallet providers just appeared soon, then see whether there is someone you trust in him, or their board of directors or partners in use. Or this wallet provider whether established system is good enough, so do not need to trust? The concept of digital currency is not need to trust the identifiable trading system, so from the third party transactions will remove your wallet is always more reasonable choice.
So what is the best purse?
Recently, a bitcoin wallet list, the selection criteria are: safety, effectiveness and convenience. The selection of 38 independent private test for each wallet. In May 19, 2015, Dark Wallet and Armory in OBPP (Open Bitcoin Privacy Project) project has achieved high.
The more popular name, like Blockchain and Coinbase in the survey, in the back row. In 100 points out, 54 points can be ranked first, while Coinbase won only 11 points. This shows that bitcoin wallet from perfect, there is a long way to go. Innovation wallet choice, such as Airbitz Trezor and Case Wallet, the direction is correct.
In a wallet, found here meet every one of the safety and convenience of the list of features is difficult. However, as long as you find most of the features you choose to use it. The wallet is always on the increase of new features, see this article in your new wallet is available. If you choose the wallet you can not meet some requirements or needs, tell them if they don’t know what you need, how they will add this feature?. If you don’t believe in your wallet or not love to use it, it will now check the list, you need to find the wallet.