In the world of technology, cryptocurrency like Bitcoin has made an enormous breakthrough and attracted a lot of users. First launched as an open source software in 2009, Bitcoin has been one of the most used cryptocurrency.
When you invest, the first thing you look for is how safe it is to do it. Same is the case with Bitcoin, to have secure and smooth transactions, and to keep your Bitcoins, you need a cryptocurrency wallet that will work as your repository for your Bitcoins.
What is a Bitcoin Wallet?
A digital wallet is the most important aspect of an investment in Bitcoin. Whenever you plan to invest in a cryptocurrency such as Bitcoin or any other platform, you need to have a digital wallet that will offer you secure storage along with ease of access and usage.
A bitcoin wallet or a digital wallet is a software program that interacts with various blockchains and stores several public and private keys enabling the user to send and receive the digital currency over a network and lets them monitor their remaining balance.
What is a Private Key?
A private key is a small piece of code that is paired along with a public key to start algorithms for text encryption and decryption. It is created as a part of public key cryptography to transform the message into a readable format. Public and private keys are paired together for secure communication such as email, and they provide security to your digital wallets and to all the information that is stored in them.
Different types of Bitcoin Wallets:
A bitcoin wallet can be broken down into three categories, which are – Hardware, Software, and Paper.
Hardware Bitcoin Wallets
Hardware wallets are different from software wallets as they store the user’s private keys on an external device like a USB. Even though the transactions are made online, the information and the data is stored offline providing increased security.
Hardware wallets can be used over several web interfaces and can store different types of cryptocurrencies depending on which one you want to use. A user can plug in the USB drive in a computer that has internet services available, and with the help of a pin code, the transactions can be made.
Hardware wallets make it easier to keep the money offline and make transactions easy.
Bitcoin Paper Wallets
Paper wallets are the easiest to use as they provide the highest level of security to the user. But that is the case with a responsible user, and if not taken care of, these paper wallets can cost you a lot of financial damage.
As the name suggests, a paper wallet is simply a piece of paper that consists of all the information about the public and private keys of a user or it can be considered as software that generates a set of keys which are printed later on.
The process of transfer of Bitcoin or any other currency to your paper wallet is done by transferring the funds to your software wallet using the public address shown on the paper wallet.
If you wish to spend the currency, then you have to transfer the funds from your paper wallet to the software wallet. This is done by manually entering your private keys or by scanning a QR code that is printed on the paper wallet.
Software Bitcoin Wallets
Software wallets are the wallets that are either available on your phone or the desktop and have the storage servers with the company who owns the particular software.
Software wallets can further be of three different types:
A. Desktop Software Wallets
A desktop wallet is a software that is downloaded on your computer and can be used on a PC or a laptop. It can be assessed from the single computer on which it is installed. These wallets offer a high level of security, but if your computer gets hacked or gets a virus, then there is a chance that you may lose all your funds.
B. Online Software Wallets
Online bitcoin wallets run on the cloud platform where all the user data and private keys are stored online on the cloud that is controlled by a third party. This is easier to access but comes at the risk of being more vulnerable to hacking and thefts as the data is stored online. However, some reliable companies take charge of your funds, and you can trust them at your utility.
C. Mobile Wallets
Mobile wallets are the easiest to use as they are used on an application that you can download on your phone. You can access your wallet anytime and use the funds anywhere, including retail stores.
Here is a list of top 10 Bitcoin Wallets ( till July 2019):
1. Trezor Hardware Wallet
With two different models available in the market, Trezor is one of the best hardware wallets that a user can get to secure their investment in Bitcoin and other cryptocurrencies.
Trezor offers a variety of features and services so that a user can be sure that their investment is in good hands for safety.
It provides the user with 12-24 words long recovery seed that a person can use to access their wallet at any given time. With an easy to use and understand interface, it helps you to manage your entire digital identity within one device.
Get more information here, trezor.io
2. Ledger Nano X
Ledger is one of the leading companies to offer hardware wallets to cryptocurrency users. The latest product, Ledger Nano X, comes with more features and updated security.
With state-of-the-art security, your private keys are safely isolated inside the device’s secure elements. The latest product comes with Bluetooth facility which can be connected using the Ledger Live App on a users phone to carry out the transactions safely.
Nano X can store more than 100 cryptocurrencies like Bitcoin, XRP, etc. and they can be easily backed up using the 24-word unique recovery phase. With 2 buttons and 1 screen, it is easy to control as well.
Check out the products here, www.ledger.com
3. Blockchain.com Wallet
Launched in August 2011, Blockchain.com (formerly known as Blockchain.info) is a Bitcoin block explorer service as well as a cryptocurrency wallet that supports Bitcoin, Bitcoin cash and Ethereum.
With being the world’s most trusted crypto wallet, it gives control to the user over all their funds and protects them from unauthorized access. Available on iOS, Android, and Web, it makes it the easiest to use and accepted over 36 countries.
Get your bitcoin wallet here, www.blockchain.com
4. Trust Wallet
Trust Wallet is another mobile application wallet that can help you store your cryptocurrency investments with the facility to allow the user to store their private keys on their device, an important security feature.
It allows the user to send, receive, and store cryptocurrency tokens for Bitcoin and other cryptocurrencies. Trust Wallet never accesses any of the user data or personal information making it more safer for the user to do a fair exchange of currencies on the app.
Visit the website here, trustwallet.com
5. Luno Wallet
LUNO which was founded in 2013 (formerly known as BitX Wallet) is a Bitcoin-related service provider company that allows the user to sell or buy bitcoins through the wallet and store them within the app as well.
A user can also make payments using the wallet at outlets or for other purposes. They also allow exchanges between traditional currencies and bitcoins. Luno has a user base of over 2 Million and is used across 40 different countries to buy or exchange Bitcoin and other cryptocurrencies.
The reason for such a vast user base is their secure and easy to use products along with their phenomenal customer support, which is available in different languages to make it more accessible to everyone.
Get more information from here, www.luno.com
6. Create Your Paper Wallet
A paper wallet is a combination of a public and private key that are printed together and is considered as extra secure storage that makes no contact with the hackable part of the internet.
Paper wallets are used to create a unique QR code or a key that a user can use to buy or sell or indulge in trading of various cryptocurrencies.
7. Jaxx Wallet
Jaxx Wallet is a product developed by the company Decentral, a company known for their ATM’s, wallets, and other services that they offer in the digital currency world. It has a user base of more than 1.2 Million.
Jaxx Wallet is a single app that allows the user to exchange currencies, access their portfolio, check the latest news, and get a good look at the markets and new trends in the market. It is available on all the leading platforms such as iOS, Android, Windows desktop, and Chrome Browser.
Download from here, jaxx.io
8. Coinbase Wallet
Coinbase Wallet is ranked as the #1 mobile crypto wallet. It is a secure platform that helps the user to buy, sell, and store cryptocurrencies like Bitcoin, Ethereum, and manage your portfolio.
Coinbase allows the user to invest in cryptocurrency by scheduling their purchases on a daily, weekly, or monthly basis. For better security, they have added the facility of a vault where you can store your funds. The companies insurance policy ensures the funds stored in the wallet.
With more than 20M users and a fund exchange of $150B+, Coinbase is one of the biggest platforms for cryptocurrency exchange.
To know more, visit www.coinbase.com
9. Binance Exchange Wallet
Binance is a global platform for a cryptocurrency exchange providing trades for more than 100 cryptocurrencies. From 2018, it is considered as the biggest exchange and trading platform in the world in terms of the trading volume.
In January 2018, it had the largest cryptocurrency exchange with Binance coin market capitalization of more than $1.3 Billion. Binance offers fast, secure and straightforward transactions and trading with their mobile app as well as desktop software.
Binance offers 24/7 support along with blog posts and worldwide communities to help its users to understand everything about Binance and everything related to it.
To know more, visit the website: www.binance.com
10. Abra Wallet
With its headquarters in Silicon Valley, Abra Wallet is another cryptocurrency wallet that helps in investing in the leading stocks available all over the world using Bitcoin. Abra Wallet wishes to make investing simple by using the Abra app that acts as a wallet and an exchange platform for its users.
Users can invest in stocks using their online crypto wallet or through bank transfers. With the mobile app available on iOS as well as Android, Abra plans to target a large user base.
Bitcoin Price Analysis: BTC is On Price Recovery Mode; Gains 4.55% Overnight
- Bitcoin gained 4.55% in the last 24 hours and breached the resistance at 10,800 USD.
- It may soon touch 12,000 USD and further, it is likely to get a price rally before the year ends.
Bitcoin has managed to reach its first resistance point at 10,800 USD with the help of a 4.55% hike. It is likely to rise more in the coming days and by the end of this year, the coin is likely to be near 15,000 USD. In the last three months, the journey of Bitcoin was full of shocks and volatility. The coin reached its peak towards the end of June and it has been trying to reach there since then. We will now analyze the current statistics of the coin before going into details of the price movement pattern.
Bitcoin Price Statistics-
Bitcoin’s highest hike of this year has been the 85.70% hike between 04th June and 26thJune. This hike pushed the coin near 14,000 USD. From there, Bitcoin has been showing huge volatility. It was followed by a fall of almost 30% in the value against USD which deducted 4039 USD from the coin over just 5 days. After a week of growth, Bitcoin again took a dip to 9208.95 USD by 17th July. From there it has been a satisfying journey for the coin and it has risen to 12,196 USD by 06th August with the help of a 32% increase in the value. The market cap on 20th July was 186,505,443,026 USD and the value of the coin was 10,991.43 USD. The current market cap and the value of each coin are respectively 4.30 % more and 1.10 % less than the figures for the last month.
Bitcoin Price Prediction-
Bitcoin is consistently raging against 11,000 USD and the next big target should be 12,000 USD with so many little halts. But the coin is likely to get a good growth by the mid of next month. With the help of a price rally, the target of 15,000 USD by 2019 seems reasonable. The details of the resistance and support levels are given below.
|1st Resistance||11117 USD|
|2nd Resistance||11317.95 USD|
|3rd Resistance||11719.85 USD|
|1st Support Level||10514.15 USD|
|2nd Support Level||10112.25 USD|
|3rd Support Level||9911.3 USD|
Winklevoss Twins Say They’re ‘In Talks’ About Joining Libra Association
Tyler and Cameron Winklevoss — Bitcoin (BTC) bulls and founders of the Gemini crypto exchange — say they are open to partnering with archrival Mark Zuckerberg on Libra.
CNN Business reported on Aug. 19 that the twins are not allowing their notorious and drawn-outsettlement with Zuckerberg stand in the way of a potential collaboration.
In talks to join the Libra Association
Whether or not a partnership will finally materialize, Cameron told CNN that Libra represents a step towards mass adoption of cryptocurrency, underscoring:
“I think there is a day in the future where we can’t live without crypto, or imagine a world before crypto.”
As CNN notes, the twins’ proactive promotion of crypto-regulatory matters could make the duo an attractive partner for Facebook, given the widespread alarm the latter’s Libra project has already sparked among governments and regulators globally.
The twins revealed they have been in talks about joining the Libra Association — the newly-created, independent governance consortium for Facebook’s planned token — which currently counts 28 founding members and should expand to 100 by the time of Libra’s launch.
Tyler and Cameron noted, however, that they still need to learn more about the details of the project before deciding whether or not to join the Association, as well as whether to list Libra on the Gemini exchange.
The Libra Association has reportedly declined to comment on any ongoing negotiations with partners.
All the internet titans will embrace crypto
According to Cameron, Facebook may be the first tech titan to attempt a native cryptocurrency launch — but it won’t be the last:
“I think that internet companies have to have a crypto strategy, and I think a lot of them are thinking about their own coin projects. They’re probably watching Libra and Facebook to see how that fares as they develop it.”
He forecast that Amazon, Apple, Netflix and Google will follow suit, isolating Amazon in particular as a solid contender:
“Amazon can probably get packages to literally any place in the world, even if the last mile is on a dirt bike or something […] very ironic, that the physical stuff we can move all around the world and we can’t get money to a lot of places around the world.”
Earlier today, Cointelegraph reported that the design for the Chinese central bank’s planned state-backed cryptocurrency is reported to have been influenced by Libra’s unveiling.
Bitcoin Price Fails to Break Through $11K — Altcoin Bull Run Fizzles 1809
Bitcoin (BTC) price slid from levels near $11,000 Aug. 20 as momentum which sparked bullish sentiment at the start of the week fizzled.
Market visualization. Source: Coin360
Bitcoin lingers below $11K resistance
Data from Coin360 showed BTC/USD abandoning its shot at passing $11,000, having risen from levels near $10,700 on Monday.
The pair was trading back at those levels at press time, having dropped $350 over the past few hours.
24-hour gains for Bitcoin thus remained tapered at 2%, while weekly performance still revolved around an overall loss of nearly 6%.
Bitcoin 7-day price chart. Source: Coin360
Anticipation had run high as $11,000 approached, analysts rating chances for a definitive upward trend to recommence.
“I wanted to see it over $10,800 and it did close, short term bullish,” regular trader Josh Ragersummarized in his most recent update on Monday.
He added that BTC/USD remains under its weekly opening level from two weeks previously, an area which will now act as resistance.
Meanwhile, another fellow market analyst and trader, Filb Filb, was more buoyant, telling followers of his dedicated Telegram channel about the possibility of a break to $11,400.
Altcoins return to flat performance
Altcoins meanwhile failed once again to capitalize on previous gains. A look at the top twenty cryptocurrencies by market cap shows most reversing progress made on Monday, when some outperformed Bitcoin itself.
Ether (ETH), the largest altcoin, then dropped 1.6% to slide back below $200. Litecoin (LTC) dropped more at 2.3%, while XRP shed almost 5%.
Ether 7-day price chart. Source: Coin360
Only Monero (XMR) and Bitcoin SV (BSV) showed signs of life, gaining 1.2% and 0.8% respectively.
The overall cryptocurrency market cap was $276 billion on Tuesday, down $3 billion from the day before, while Bitcoin’s share remained over 69%.