Before purchasing bitcoin, youll need to set up a wallet to store them. In this guide well discuss types of Bitcoin wallets and why you may choose one over the other. Wallets can be on your mobile, on your desktop or even a physical hardware than you can carry with you. When you set up your wallet, you will have what is known as awhich functions as the password to access your Bitcoin. As you complete a transaction, you will then receive what is known as awhich connects you from one Bitcoin user to another.Please note: Never purchase a wallet on eBay. Someone may be attempting to sell you a wallet that has been tampered with to steal your bitcoin. Remember, regardless of which wallet you choose, keeping your bitcoin secure is most important.

(Recommended if you own under $1000 worth of bitcoin)

Your money lives directly on your smartphone or laptop.

Using Bitcoin mobile wallets allows you to send and receive bitcoins by scanning a QR code.

Mobile and Desktop wallets are not secure enough to store large amounts of bitcoins.

Download Edge wallethere. Edge is a mobile cryptocurrency wallet available for Android and iOS. The wallet offers in-app buy and sell, in-app exchange between cryptocurrencies, and advanced security features. Great for both beginners and advance users looking for an all-in-one wallet.

Blockchain Wallet for iPhone and Android users. It is easy and quick to set up for beginners; just download from the App store and you are ready to go in minutes.Here is a quick video demonstration of setting up a Mobile Bitcoin Wallet

Your money lives directly on your smartphone or laptop.

Using Bitcoin mobile wallets allows you to send and receive bitcoins by scanning a QR code.

Mobile and Desktop wallets are not secure enough to store large amounts of bitcoins.

We recommend Exodus as a desktop wallet. It is one of the most secure and convenient software wallets.

(Recommended if you own over $1000 in bitcoin)

Hardware wallets, also referred to as cold storage, have been designed to protect your private keys from malware, virus and phishing. They are the most secure way to store your bitcoins.

It can be connected to any Windows, Linux or Mac machine as an external device. You can use it anywhere in the world with any machine.

It is compatible with different wallets: MultiBit HD, Mycelium and others.

They arent free, but they are a necessary expense if youre holding larger amounts of bitcoin.

We recommend Ledger Nano S TREZOR, which are renowned for their security and ease of use.

Paper wallets are different from the other types of wallets and are often described as the most secure way to store your cryptocurrency. Unlike online wallets, this form of bitcoin storage is completely offline and physical, giving you full control. A paper wallet is exactly how it sounds, a piece of paper that contains your private key and public address, usually printed in the form of a QR code. Being a physical form of storage, it means you must take extra care to protect the paper. People with paper wallets often laminate the paper, or place it in a tamper-proof envelope and then within a safe to keep it completely safe and secure.

Its offline nature means its protected from hackers and malware.

Paper wallets must be stored with thought and care.

To protect against accidents such as a robbery, fire, or hard drive failure, its recommended to have a backup of your private keys kept off-site.

Never give your private keys to anyone. Think of your private keys in the same way that you think of your pin code.

When you share your private keys with someone, you are essentially depositing all of your funds into the hands of that person.

When generating your private keys, make sure you are in an offline and secure environment.

Keep your software up to date. The latest version of the wallet software will have greater security.

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