What Are Online Bitcoin Wallets
There are a lot of different kinds of bitcoin wallets out there, so you don't need to worry about not being able to store the bitcoins that you own. However, you do need to think about what kind of wallet you want to use.
There are a few different types to choose from - and the type that we are going to focus on today are online bitcoin wallets that can be used in the UK. They're very useful for many different people; you could be one of them.
What are online Bitcoin wallets?
Bitcoin wallets that are web-based store your private keys online (and can be used for buying Bitcoins in Canada, the UK and the USA, on a computer that is controlled by somebody else and connected to the Internet. There are loads of online wallets and some of them are even able to be linked to mobile and desktop wallets, too.
It does this by replicating your addresses between the different devices that you own. So, when you think about it, it's kind of like a mix between mobile and desktop wallets!
One of the biggest benefits of online wallets is that you'll be able to access them from almost anywhere - and it won't matter what device you're using. But, they also have a big problem, too.
What is the problem with online wallets for Bitcoins?
If they're not implemented in the right way, they can put the company running the website in control of your private keys, which can pretty much take your bitcoins out of your control and into theirs. And this isn't something anybody wants, especially if they have a lot of bitcoins.
However, this isn't something that happens all the time and there are still many people who prefer to use these over the alternatives.
Getting an online Cryptocurrency wallet
There are loads of different ones to choose from, so if you do want to go for this option you may need to search for a while. A few good ones are:
Coinbase - this exchange operates its online wallet across the globe, so that people all over the world can buy, sell and trade bitcoins with their services
Xapo - Xapo's goal is to provide the convenience of an easy-to-use bitcoin wallet with the great security of a cold-storage vault (and they’re very good at it)
Circle - Circle offers their users the ability to buy, trade, store and send bitcoins. However, only people in the US are able to link bank accounts to their deposit funds. Both credit and debit cards are an option for people in other countries.
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You can find more on Bitcoins here in TheTimes online