See .. How to select a Bitcoin Wallet, Other Cryptocurrencies and Cryptoactive?

[hamzayousaf]

 

wallets or purses of Bitcoin, other criptomonedas and criptoactivos  store private keys needed to meet the balances recorded in  public key or an address compatibility chain blocks and to reserve. Right now there are several types of cryptocurrency folders that can be classified using two changables: facility of use and security. At the tip of the shrine shown in the image are the most difficult but safest to use folders, while the easiest to use in the background, but also the minimum safe. The shrine image also represents the adoption in use of each type of folder: those of the widely used fund , while those of the cap which are not used widely; an opposing condition of the community of cryptoactive folders, given the fact that it is money with what we are dealing with. Safety is a ruling factor in a good folder of cryptoactives. Starting at the bottom of the shrine image, there are some exchange houses , which plays role as a bank of cryptocurrencies.So in an assigned address Users enter their crypto-assets  and then bank is responsible to control and run them. That is, they move the the users money  to one or more central folders and from there they get the instructions of payment, purchase or sale of their clients indicated by them. They are useful for the exchange between depository currencies  and cryptoactives. These services are open to scam, hacking, service drops and other risks, so that users' money may be unaccessible or simply disappear; In addition, they usually change the conditions of use at their causing account closures, discretion,  and other inconveniences to users. The exchange houses represent a business that allows the meeting between the real world and the cryptocurrencies although there are also between cryptoactive. Users take the risk of losing their money who store their savings in these services . Atomic Swaps will make its use unnecessary in the future  with the development of Bitcoin technolog advances. One step up the pyramid are the  online folders websites that allow users to mobilize their money independently, without having to install any software and having exclusive control of their private keys. In this type of wallets a private key abstraction is generated in the form of 12 or more words called seed or backing that must be written down in paper or other resistant medium and outside of line, by the user in order to safe your money. the probability of hacking users' funds minimizes drastically, in the online portfolios.  in these purses the unavailability of funds remains an issue as they may suffer temporary falls for different reasons. MyEtherWallet and Blockchain.info are two online portfolios that are mostly used softwares that can be installed on mobile devices or computers in the penultimate step of portfolio applications and serve to view balances in the addresses that the user has and organize the money in them. They canuse a previously created backup or create a new seed as well as allow the activation of extra key or code. These applications transfer responsibility for security to the user by eliminating the issue of unavailability of money , who must refraining from entering insecure pages and keep his device free of viruses and insert any unknown peripheral into the system such as external hard drives or pendrives. The wallets at the top of the pyramid are  called cold wallets:  physical devices allowing you to sign transactions without exposing the seed that hold the private key of associated accounts offline. These portfolios/folders  represent the safest way to protect cryptoactive and are connected by USB to the computer. The portfolios in hardware generate a direct cost for the user. Their prices differ but they can be obtained from $ 50 and also up. Some recognized brands are Ledger, Trezor, Digital Bitbox and KeepKey. Note: Cryptocurrency wallet characteristics would be explained in the coming post.

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Comments

[steemcleaners]

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[iftekhar]

I am a new comer in crypto world. I am using Binance and myetherwallet. I am not a trader. Just using only steemit and finding ICO token. I learnt something new form this article. thanks for this great job. Anyway I think, you do not upvote on your own article, Why ?

[hamzayousaf]

Thanks for feedback... Sometimes I upvote my posts. but a very rare time

[rahim2012]

Hamzah Yousaf vai your is very good...thanks for sharing

[hamzayousaf]

Thanks dear

[hamzayousaf]

Thanks dear

[practicaleric]

Great article on crypto wallets. I think the worst place to store crypto is on an exchange. We saw that with the Mt. Gox disaster which was one of the biggest hack in crypto space. Offline in one of those cold wallets you mentioned is the best storage for those with huge amounts of cryptos. Looking forward to the next post :)

[hamzayousaf]

Thanks for your feed back

[pradhan222]

Really informative article. I have to use it refund my steemit account. It will become helpful for me.

[hamzayousaf]

sure and thanks

[sibbir]

awesome,post, my dear friend @hamzayousaf,
thank you so much for sharing your post,

[hamzayousaf]

Welcome dear

[sujonxr]

Yeah,,This is so needy to secure the accounts !!!
I like it,,Thanks for sharing

[hamzayousaf]

Welcome

[mdabdullah4002]

thanks for this good article...... I am using Binance and myetherwallet. I am not a trader. Just using only steemit and finding ICO token.

[hamzayousaf]

Good thanks for your participation

[nishuxr]

This is a nice article @hamzayousaf..Keep it up my friend

[hamzayousaf]

Thanks

[kamchore]

Thanks for sharing worthy information about bitcoin wallet. Keep sharing useful post @hamzayousaf

[hamzayousaf]

Thanks

[chehkuna]

Thank you for sharing important information, we will obviously choose a service that is responsible for the security of our wallets.
Thanks @hamzayousaf

[hamzayousaf]

Yes good you are right

[lafzaia]

Nice review @hamzayousaf..Thanks for sharing
I will try it

[hamzayousaf]

Thanks dear

[yati]

actually I do not really know about cryptocurrencies or cryptoactive before, but I know it's important,and by reading your writing I have a little understanding though I still a little confused Lol..

[hamzayousaf]

A cryptocurrencyis a controversial dig ital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Crypto active is an open source all in one bitcoin and crypto community platform designed to provide multiple investment opportunities with cryptocurrency education

[yati]

thanks dear @ hamzayousaf, you explained it very well and clearly, I understand now.

[mohsin27]

I had no experience about bitcoin and cryptocurrency. reading your article i am still in dark . hope your upcoming wallet may give us in details for understanding. if it has also chance of big hacking in crypto space what will be our safeguard. what is the hierarchy here? A clear video/Dtube is badly needed to clear our concept specially for me. Would you please......

[hamzayousaf]

Thanks for your views

[needforce]

Helpful writing. As a new comer in crypto world it will be beneficial to me.Thanks for sharing such informative writing to us.

[hamzayousaf]

Thanks for your views

[syarke]

thank you .... this is a great post and add my insight about crypto

[hamzayousaf]

Welcome

[yousafharoonkhan]

super information brother,,thumup post,, best of post,, you are good writer

[hamzayousaf]

Thank you bro

[mishuxr]

awesome sharing..@hamzayousaf..

[hamzayousaf]

Thanks

[jubu]

[habiba234]

Yeah..That's awesome..The wallets at the top of the pyramid are called cold wallets: physical devices allowing you to sign transactions without exposing the seed that hold the private key of associated accounts offline.
I like it,,Thanks for sharing
and for your valuable suggestion

[hamzayousaf]

Thanks and it is my pleasure

[andesta]

thanks for the information, i like it

[hamzayousaf]

Welcome

[samtexprints]

Nice [e-mail] time bro

[hamzayousaf]

thanks