These wallets are downloaded and installed on a PC or laptop, and are only accessible from the computer in which they are downloaded. They offer a high level of security, as long as your device is not stolen or infected with malware.
Popular Desktop Wallets:
Electrum – Popular Bitcoin only wallet, that is lightweight, and can be recovered with a seed phrase.
Exodus – Support for a wide array of Cryptocurrencies, and has a beautiful easy to use interface.
Jaxx – Bitcoin & Other Cryptocurrency support, that also runs on iOS & Android.
These types of wallets are very popular, primarily because they are stored and run in the cloud. This makes them accessible from any device connected to the internet. The downside is that private keys are kept online and controlled by a third party, which makes this type of wallet the least secure.
Popular Online Wallets:
Coinbase – Online wallet that is connected to the GDAX exchange, and insures your cryptocurrency holdings. Also has 2 step verification, and a Vault feature for added security.
Blockchain.info – “The world’s most popular Bitcoin wallet” according to their website.
These wallets are run from an app on your mobile device. They can be used anywhere, including retail stores. They are usually very easy to use, and are more secure than an online wallet, but less secure than a desktop wallet.
Popular Mobile Wallets:
MyCelium Bitcoin Wallet (Android) – This wallet has a lot of advanced privacy and security features, so it may be a bit complex for some new users. It has been on the market for several years, and has been tested by hundreds of thousands of users.
Jaxx (iOS & Android) – This wallet supports a large variety of Cryptocurrencies, but is not open-source.
Breadwallet (iOS & Android) – Simple Bitcoin wallet that is remarkably easy to use, with built in send and receive functions.
These wallets are different from software wallets in the way they store a user’s private keys – generally on a hardware device that resembles a USB drive. Transactions are made online, but they are stored offline. This increases security significantly, making these even safer than desktop wallets. Transactions are easy, and require just inserting the device into a USB slot, entering the PIN, and then you can send and confirm transactions.
Popular Hardware Wallets:
Ledger Nano S – Supports multiple Cryptocurrencies, including Bitcoin and Ethereum. Plugs into a USB drive, and updates once plugged in. Wallet is backed up with a seed phrase on a recovery sheet.
Trezor – This wallet works on Windows, OS X, and Linux, plugs in with a provided USB cable, uses modern cryptography, and is community driven and open-source.
KeepKey – A simple cryptocurrency wallet that supports Bitcoin, Ethereum, Litecoin, Namecoin, Dogecoin, Dash, and Testnet. Sleek design, with a nice screen.
This is the safest way to store your cryptocurrency, but is also the most technical. Paper wallets are just your public and private keys printed out onto paper. Transfers are made from your software or hardware wallet to the public address on your paper wallet. Funds are withdrawn or spent by a process known as ‘sweeping’ that is either done manually by entering your private keys or scanning a QR code on the paper wallet.
Popular Paper Wallets:
WalletGenerator – Bitcoin and a total of 197 currencies are supported; the site uses random data from movement of your mouse to generate your keys.
MyEtherWallet – For Ethereum Ether & Tokens; this is a bit more complex than WalletGenerator, but it supports Ethereum Tokens.
Bitcoins are definitely not for small scale miners who are just staring out. The large up-front start-up and maintenance fees make it non-profitable for most people wanting to break into the market. Bitcoin mining should be undertaken by large-scale mining operations with large capital resources.
As more people mine a particular cryptocoin, it could get more difficult to mine, as newer a faster hardware will be required to continue sucessfully mining. You should consider switching to a different cryptocurrency to mine if this happens.
**Be sure you are in a country where cryptocurrency and cryptocurrency mining is legal.
There is a wide variety of hardware available for mining cryptocurrency. We recommend taking a look at our Mining Equipment page to find reliable mining equipment at great prices, directly from Amazon.
If you would like to purchase mining in the cloud, we recommend MinerGate:
You can mine Bitcoin and Monero in the cloud, by buying in to a shared cloud miner, for a onetime fee and a daily maintenance fee. Visit MinerGate by clicking on the image below:
For detailed instructions on how to mine cryptocurrency, we recommend the two resources below:
A Beginner’s Guide to Cryptocoin Mining from Lifewire
Mining Guides from CryptoCompare
Please visit our Mining Calculators page to find out what your costs and profits would be for mining Bitcoin and the most popular cryptocurrencies.
Changelly – Changelly is a well trusted and reliable exchange, suited primarily to exchanging one cryptocurrency to another. They have excellent rates (a fee of 0.5% is charged for each exchange), and you can also purchase Bitcoin by Visa & MasterCard. No account is required, and virtually any wallet is supported.
CoinMama – Purchase Bitcoin & Ethereum via Visa or MasterCard. Pay in USD, Euros, or any other Currency.
CoinBase – The most popular exchange on the internet, you can buy, sell, and exchange cryptocurrencies easily via their online interface. The require you to have an account, but they also insure your cryptocurrency holdings.
CEX.IO – “Is a place for everyone who wants to simply buy and sell Bitcoins. Deposit funds using your Visa/MasterCard or bank transfer. Instant buy or sell Bitcoins at fair price, guaranteed.” Has over 700,000 users worldwide.
CoinBase – More than just a popular exchange on the internet, in addition to buying, selling, and exchanging cryptocurrencies, they have a comprehensive web interface to help you oversee your cryptocurrency investment portfolio.
CryptoCompare – Manage and track cryptocurency assets.
Blox – “Blox is the next generation platform for portfolio tracking and blockchain asset management. Automatically sync your wallets and exchanges into a single account.”
Latest Rates – Visit our latest rates page to view the latest cryptocurrency rates for hundreds of cryptocurrencies, as well as historic data, charts, and general information.
Live Rates – Visit our live rates page to view live cryptocurrencies rates as they arrive via the CoinMarketCap API.
A Blockchain Explanation Your Parents Could Understand from Lifehacker
Understand The Blockchain In Two Minutes from Institute for the Future (IFTF)
How it Works: Blockchain from IBM Think Academy
Vitalik Buterin Explains Ethereum from Ethereum
How Ripple Works – xCurrent from Ripple
Blockchain – “We are on a mission to build a more open, accessible, and fair financial future, one piece of software at a time. Our technology is revolutionizing the financial services industry by empowering millions across the globe to authenticate and transact immediately and without costly intermediaries.”
Ethereum – “Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.”
Ripple – “Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally.”
Humaniq – “Humaniq is a new generation financial services with its own cryptocurrency, which is aimed at eradicating poverty amongst millions of people living in the emerging economies.”
Steem – “Steem is a blockchain-based rewards platform for publishers to monetize content and grow community.”
IOTA – “The first open-source distributed ledger that is being built to power the future of the Internet of Things with feeless microtransactions and data integrity for machines.”
Smart Contracts Explained from Complexity Labs
What is a Smart Contract? A Beginner’s Guide from Ameer Rosic
Contact Us – If you’re interested in having a smart contract developed for your company or organisation, please contact us via the information on our contacts page. We have extensive experience with Ethereum Smart Contracts, and would be happy to answer any questions you might have, and direct you to the best resource for your needs.
CoinPayments: Accept Bitcoin and other Cryptocurrencies as payment.