What are Bitcoin Wallets

Wallets – Online, Mobile or Offline?
If you want to have to trade bitcoins, the first thing you’ll need is a bitcoin wallet. There are several types of these available.

Desktop wallets sit on your computer, mobile ones sit on your phone, and online ones sit with cloud service providers. There are risks with all of them. If your computer gets hacked, you can lose  your coins, if you lose your phone, you can lose your coins, or if your online account gets compromised and you don’t have two stage authentication, or the service provider shuts down, your coins are at risk. A range of options is maintained at Bitcoin.org.

We at Bitcoins in Ireland went with Bitcoin Armory for windows computers. It is free, sits on your computer, but holds your accounts and addresses encrypted on your computer. It also enforces a paper backup, and password protection for actions, and offers a lot of other functionality that is useful for personal or retail environments.

Read more details in our bitcoin wallet reviews.