Bitcoins have now become an accepted method of payment for various products and services. For exchanging or mining bitcoins, it becomes necessary to have a bitcoin wallet. It is similar to a physical wallet as it stores the ‘private key’ to access your bitcoins and other important information. These wallets can be in many forms such as desktop, hardware, mobile application, and web.

What is the difference between different forms of wallet?

Desktop wallet, as the name suggests, is a bitcoin wallet that is installed on a computer. They are safe as the owner has complete control over it, can store a private key and also, create an address for transacting bitcoins.

Hardware wallets are the safest amongst all kinds but they are quite expensive. Here, the bitcoins or the secure private key is stored in a piece of hardware that can be connected to a smartphone or desktop, whenever needed. It is safe because hackers would not have direct access to the hardware as with other forms of wallets.

bitcoin wallet

A mobile wallet is where an application is downloaded that safely keeps the bitcoins. A mobile bitcoin wallet is easier to use as the owner does not have to log on to their desktop to make transactions using the cryptocurrency.

On the web, certain websites do the work of handling the bitcoin wallet. They are safe and can also be accessed anywhere with internet.

How to earn free bitcoins?

Using a web bitcoin wallet can be very profitable. These can be accessed anywhere and are safe to use. Many web wallets run lucky draws, let you compete in games, and also reward for referrals. These can easily help in winning free bitcoins. While lucky draw completely relies on the user’s luck, a lot can be made through Hi-Lo games on these web wallets. These games are common and require a set of skills to help you win more cryptocurrency for free.

Therefore, a bitcoin wallet becomes a necessity to start dealing in bitcoin. Through web wallets, secure dealing is possible while also, alternatively, a user can acquire bitcoins for free.

 

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