Top 3 Ways To Open A Bitcoin Wallet


Bitcoins are the newest way to transact business in the world, and because it is a digital currency, many are predicting that this will be the way of the future. And in order for you to make  Bitcoins transactions with another person or with a business, you will first need to have a Bitcoin Wallet. And this is just the same thing as having a bank account where you can withdraw money and you can deposit funds. (If you need to know the basics about Bitcoins, see this article) And with the Bitcoin wallet, you can store Bitcoins, you can receive them from others, as well you can send them to others. But first you must understand that there are 2 types of wallets,  one is a Software Wallet that you can install on your computer or mobile device. And for that type of wallet, you will be in complete control over the security of your Bitcoins and what happen to them. And you must also understand this type of wallet is kind of tricky for you to install and then maintain over time, because you could lose your cell phone, or computer, or other mobile device. And whatever amount of Bitcoins you had on that platform can be hard to recover.


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The second type of Bitcoin Wallet you can have is a Web Wallet or a Hosted Wallet. And just like you are thinking, this type of wallet will be handled or hosted by a third party. And supposedly that will be easier to set up and maintain, but then you will run into the problem of trusting the provider with your Bitcoin Wallet. And of course, every provider out there will swear to you that their platform is the most secure in the world, and they will also promise you that they are constantly monitoring your wallet for fraud, for hacks and for any other illegal activities. But just think my friend, if Hackers can break into Apple software and take information and picture from their cloud storage, and if Hackers have hacked into Sony to get all their executive emails, then why wouldn't they be able at some point to break into the software of that third party that is hosting and handling your Bitcoin Wallet? Just remember to look for a place that can guarantee your money, and if something happens they will quickly replace your Bitcoins and they swallow the loss; because no security is infallible. But enough of that, now let me share with you the Top 3 Ways To Open A Bitcoin Wallet.
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1. Coinbase

Sending coins with Coinbase
Sending coins with Coinbase
Coinbase is a web wallet with a simple design and a number of very useful features that make it excellent for beginners. You can send and receive bitcoins via email and buy and sell bitcoins directly from Coinbase. A full-featured Android app enables access to all account functions on the go. Coinbase’s founders have a proven startup track record and have raised money from very prominent venture capitalists. This gives Coinbase a level of legitimacy unparalleled in the Bitcoin space. They are also one of the only large Bitcoin companies to never suffer a major hack. Click here to sign up.


2. Electrum

sending coins with Electrum for Windows
Sending coins with Electrum for Windows
Electrum is a software wallet that enables you to set up a strong level of security very quickly. During the simple installation process, you are given a twelve word phrase that will allow you to recover all of your bitcoins in the event that your computer fails. Your wallet is also encrypted by default which helps protect your coins against hackers. Electrum is available for Windows, OSX, and Linux and is our recommended software wallet for beginners. Click here to download the right version for your operating system.

Bitcoin Wallet for Android and Blackberry

For those looking for mobility and security, we recommend the simply-titled Bitcoin Wallet mobile app. There is a version for both Android and BlackBerry OS. It is a software wallet, so you retain complete control over your bitcoins. It also works well with QR codes and NFC, making transferring coins to someone else’s phone easier than writing a check. Be sure to backup your wallet (with the included “Backup Wallet” feature) or you risk losing all your coins the next time you get too close to a pool.


3. Blockchain.info

One of the quickest and easiest ways to get a Bitcoin wallet is to simply go to Blockchain.info and fill out their brief requirements. Blockchain.info is another web wallet like Coinbase and provides a simple setup and mobile access to your account via their Android app. They also provide a number of other useful services to the Bitcoin community.
Credit: http://bitcoinsimplified.org/get-started/how-to-set-up-a-wallet/
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