1. Bitcoin wallet for a mobile phone.
- Mobile wallet for iOS: Blockchain, BitWallet, Coinbase, Circle, Xapo
- Mobile wallet for Android: Blockchain, BitcoinWallet, Mycelium, CoinBase, Xapo
Download and install the application on your phone, depending on the operating system. The purpose and functions of the wallet are the same as those of the PC wallet – to store the private key and the ability to transfer. Since it is rare that any of us leaves the phone unattended even for 5 minutes, then the cue ball will always be at hand. It is convenient to read QR codes from the phone’s camera and immediately transfer to the desired BTC addresses. I even heard about the possibility of some paying with a contactless transfer, like on a telephone (NFC), but in practice, I have never encountered such a transfer.
I use my Blockchain wallet on my mobile. I advise him for these purposes.
Pros: portability, convenience, ease of use.
Cons: security, level of anonymity.
2. Online Bitcoin Wallet
The most popular online wallets: Blockchain, BitGo, Xapo.
Usually, online wallets intersect with mobile ones. Having an online wallet, you can install its mobile version on your smartphone. The same addresses, the same amount of bitcoins.
For PTS-online wallets, private keys for signing are stored in another secure place, you only have access to it. This can be considered as an advantage – you can have access to your bitcoins from any device or a disadvantage – you really do not control your cue ball. Only the organization that provides you this service has access to the private key, and accordingly full control over the military-technical cooperation.
For the safety of storage, you are responsible not only (with your access to the account), but also the service. After all, organizations store your crypto on “hot” wallets. This is done so that you can have access to all your bitcoins at any given time. But this is fraught with the loss of all cryptocurrencies in the event of a hacker attack.
In the online wallet story, I use Blockchain. In addition to being the most popular wallet, the phone also has the same mobile Blockchain wallet, i.e. I have access to my bitcoins both from the phone and from the PC.
Pros: Ease of use, convenience, low fees.
Cons: Security, level of anonymity.
Ok, there is a wallet. How can I take the cue ball now?
Mine! 🙂 This is the process of mining cryptocurrency due to the operation of your pc or another device to confirm transactions in the blockchain by means of generations using mathematical calculations, which is rewarded with cue ball!
In fact, mining on a single computer scale is no longer relevant and not profitable. So this option is not for us.