Where to get a wallet
Where can I get a Wallet and which one is best?
Well, like I said before it depends on you. Not only do you need to choose how you're going to store your bitcoin but you also need to choose between many different kinds of that type of wallet as well. This process can be very frustrating and is very hard to explain so I am going to skip a lot of things I could cover and save that for the advanced course and just give you the basics which are going to be easier to understand anyways.
So let's get the confusing stuff out of the way...
When you break down what a wallet is, it's just a place that keeps your Public and Private key so you can access the bitcoin (or other Cryptocurrencys) Network, so that wallet allows you to access that network. How it can get confusing is that wallets can access that network in many different ways and they store your public and private keys in many different ways. I am going to give you recommendations of wallets but there are other considerations to be aware of if you transact with Cryptocurrencies often. So let's get to it!
I am also a big believer in going to the source of the coin and seeing what wallet they recommend. You, for the most part, can't go wrong there. If you go to https://bitcoin.org/en/choose-your-wallet you will see a list that looks something like this...
ALL of these are good options are recommended by Bitcoin.org (Don't go to Bitcoin.com for your wallet. I will explain later but just know there is a war going on in the cryptocurrency space over what the real bitcoin is. Again, I will go over it with you later but just know you need to go to bitcoin.org NOT bitcoin.com for these purposes) Outside of that, here are some recommendations of wallets you can check out that I like. Also some of these are multiple types of wallets.
Atomic Wallet is a new multi-asset custody-free solution for secure storage and management of BTC, ETH, XLM, XRP, LTC and over 300 other coins and tokens. The crypto-assets and features are regularly updated. Private keys are securely encrypted on a user’s device, so one has full control over their funds.The desktop app is available for Windows, MacOS, Ubuntu, Debian and Fedora. Private alpha versions of Android and IOS mobile apps will be released in October, 2018. Atomic Wallet is a secure all-in-one, non-custodial cryptocurrency storage with a smooth and comprehensive interface. The wallet supports Atomic Swaps, a cutting-edge feature that helps users significantly save on fees. Atomic wallet also enables users to buy cryptocurrency with USD and EUR and exchange their assets at the best rates via Changelly or ShapeShift.
Pros: Handy interface, Optimum privacy & security, Decentralized, Multi-currency, Custody-free, Built-in Exchange, Bank cards accepted, 24/7 instant support.
Cons: Not all coins support Atomic swaps yet.
Exodus is a relatively new and unknown digital wallet that is currently only available on the desktop. It enables the storage and trading of Bitcoin, Ether, Litecoins, Dogecoins and Dash through an incredibly easy to use, intuitive and beautiful interface. Exodus also offers a very simple guide to backup your wallet. One of the great things about Exodus is that it has a built-in shapeshift exchange that allows users to trade altcoins for bitcoins and vice versa without leaving the wallet.
Pros: Good privacy & security, beginner friendly, intuitive, easy to use, in-wallet trading, supports multiple currencies, open-source software, free.
Cons: Hot wallet, no web interface or mobile app
Coinbase Wallet is a software product that gives you access to a wide spectrum of decentralized innovation - buy and store ERC-20 tokens, participates in airdrops and ICOs, collect rare digital art and other collectibles, browse decentralized apps (DApps), shop at stores that accept cryptocurrency, and send crypto to anyone around the world.
If you’re looking to simply invest in digital currency - Coinbase Consumer at coinbase.com remains the easiest place to buy, sell, and manage your digital currency.
Bread Wallet is a simple mobile Bitcoin digital wallet that makes sending bitcoins as easy as sending an email. The wallet can be downloaded from the App Store or Google Play. Bread Wallet offers a standalone client, so there is no server to use when sending or receiving bitcoins. That means users can access their money and are in full control of their funds at all times. Overall, Bread Wallet’s clean interface, lightweight design and commitment to continually improve security, make the application safe, fast and a pleasure to use for both beginners and experienced users alike.
Pros: Good privacy & security, beginner friendly, simple & clean, open-source software, free.
Cons: No web or desktop interface, lacks features, hot wallet.
Advanced users searching for a Bitcoin mobile digital wallet, should look no further than mycelium. The Mycelium mobile wallet allows iPhone and Android users to send and receive bitcoins and keep complete control over bitcoins. No third party can freeze or lose your funds! With enterprise-level security superior to most other apps and features like cold storage and encrypted PDF backups, an integrated QR-code scanner, a local trading marketplace and secure chat amongst others, you can understand why Mycelium has long been regarded as one of the best wallets on the market.
Pros: Good privacy, advanced security, feature-rich, open-source software, free
Cons: No web or desktop interface, hot wallet, not for beginners
4. Hardware Wallet
Trezor is a hardware Bitcoin wallet that is ideal for storing large amounts of bitcoins. Trezor cannot be infected by malware and never exposes your private keys which make it as safe as holding traditional paper money. Trezor is open source and transparent, with all technical decisions benefiting from wider community consultation. It’s easy to use, has an intuitive interface and is Windows, OS X and Linux friendly. One of the few downsides of the Trezor wallet is that it must be with you to send bitcoins. This, therefore, makes Trezor best for inactive savers, investors or people who want to keep large amounts of Bitcoin highly secure.
Pros: Good security & privacy, cold storage, easy to use a web interface, in-built screen, open-source software, beginner friendly.
Cons: Costs $99, must have a device to send bitcoins
The Ledger Wallet Nano is a new hierarchical deterministic multisig hardware wallet for bitcoin users that aims to eliminate a number of attack vectors through the use of a second security layer. This tech-heavy description does not mean much to the average consumer, though, which is why I am going to explain it in plain language, describing what makes the Ledger Wallet Nano tick. In terms of hardware, the Ledger Wallet Nano is a compact USB device based on a smart card. It is roughly the size of a small flash drive, measuring 39 x 13 x 4mm (1.53 x 0.51 x 0.16in) and weighing in at just 5.9g.
Screen/device protected by metal swivel cover
3rd-Party apps can run from device
When recovering a wallet from seed, the whole process can be done from the device without even connecting it to a computer!
Fairly inexpensive (~$65 USD)
Not as advanced wallet software (no transaction labeling)
No ability to create hidden accounts
No password manager
So paper is essentially writing the password down on a piece of paper. you can print it and laminate it and spread the codes apart you can etch them in a metal plate so they will be more permanent, you can even just memorize the code yourself and not write it down anywhere if you want. Just like memorizing your e-mail password. That being said, I DO NOT recommend that. I am going to recommend some cool companies that you can keep your passwords on. I am only recommending them because I personally think they are really cool personally. None of these are better or worse than one another.
1. So first thing, you can just write your private key down on paper and put it in a safe. That however doesn't protect against fire unless your safe is fire proof... or if you even have a safe. Some people put their private keys on multiple pieces of paper and put them in different places as well, you can think of many different ways yourself that works for you I am sure.
2. Cryptosteel.com - This is an option where you can have your keys put in a metal sleeve. This should protect against fires pretty darn well.
3. Crypto Tag - This is one of my favorites. They give you a hammer to punch in your own keys... awesome...
There are many different ways to keep your private keys safe and none of them are better than the other in every way which means you need to pick a wallet that fits your personal needs. Most people have many different wallets they use for different reasons. Your every day wallet, your keep locked up and safe for many years wallet, your Bitcoin wallet vs your other crypto assets... I dont know, I am not you but whatever your needs are you should be able to find those needs with one of these wallets