Digital finances are the way of the future. Being able to visit a bitcoin ATM is both simple and more secure than going to a regular bank ATM.
Before you can head to an ATM location, you’re going to need to set up a cryptocurrency wallet. It’s a special digital wallet that’s linked to your email address.
Once you hit the confirm button on the ATM, the bitcoin funds will get sent to the wallet. When it comes to choosing the best cryptocurrency wallet, you have to think about the different types.
We’ve got a guide that will help you choose the option that will suit your financial needs. Keep reading to learn more.
What Is a Cryptocurrency Wallet?
A cryptocurrency wallet works sort of like the physical wallet you hold in your pocket. The difference is that it houses your digital cash.
There is a secure key that’s linked with every crypto wallet. You’ll need to have it with you whenever you go to the bitcoin ATM, or you won’t be able to complete your transaction.
In most cases, the key is a QR code. All you have to do is hold it up to the machine to get your funds. This article will tell you more.
There are three different wallet options available to you. The first one is paper. It’s a physical printout of your private keys. It’s sort of like having a debit card.
You’ll have to be careful with it. If anyone were to swipe the paper from you, they would have all the information they need to clean you out. If it gets thrown out or your children decide to color on it, you’ll lose access to your funds forever.
Still, having a paper wallet means your secure codes can’t be found anywhere online. That makes you a little less vulnerable to hackers.
There are countless cryptocurrency wallet apps that you can download to your phone. These are also known as software wallets. They’re the easiest ones to use.
Even if you’re not that tech-savvy, you shouldn’t have a problem when you choose a crypto wallet on your phone. The downside is that they’re more vulnerable to hackers.
Hardware wallets are small USB devices. You can plug it into your computer when you want to buy or sell crypto online. They’re the most expensive option on this list, but they’re also the most secure.
They do come with one of the same problems that paper wallets do. If you lose the USB, you no longer have access to any of your digital funds.
Choosing the Best Cryptocurrency Wallet for Your Needs
As you can see, there are a lot of different digital wallets out there for you to choose from. The one you pick depends on how concerned you are about security.
At the end of the day, choose the best cryptocurrency wallet for your needs. For more tips that will help you keep track of your digital funds, visit the Technology section of our blog.