What Bitcoin Wallet Should I Use Types Of Wallets Explained

What is a Bitcoin wallet?

A Bitcoin wallet is a medium of information storage that stores private keys. Contrary to a common misconception, a wallet does not store any Bitcoin. It just grants user access to a certain amount of BTC associated with the wallet.

There are many different ways to store user’s private keys. After all, it is just a string of numbers and letters. All the wallets can be categorized according to several parameters:

Connectivity to the internet (hot vs cold)

Number of different cryptocurrencies it is designed to store (single currency, multicurrency)

Exact type of the wallet (paper, web, etc.)

Hot vs cold wallets

The first way to categorize the wallets is by their connectivity to the Internet. If the wallet is connected to the Web, it is a hot wallet. On the other hand, if the wallet is not connected to the Internet, it is a cold wallet. Each of these types has its own advantages and drawbacks.

Hot wallet

Hot wallet is connected to the Internet.

Pros of a hot wallet:

The funds are easy to access from anywhere.

Funds can be sent fast, which can be useful for daytrading .

Hot wallets are normally easy to use, with an intuitive interface.

There is a large number of Bitcoin cold wallets. It means that any user will be able to find one that is compatible with his/her operating system of choice, such as iOS, Android, Windows, Mac OS or Linux.

Cons of a hot wallet:

No matter how many security layers a particular hot wallet has, it will always be compromised in terms of safety. No wallet is 100% secure, but this is especially true when talking about hot wallets.

The performance can sometimes be sluggish, because the system runs on a centralized server.

Cold wallet

Cold wallet is not connected to the Internet.

Pros of a cold wallet:

Such a wallet is much harder to exploit, because it cannot be accessed by hackers from the Internet.

Cold wallets are a perfect option for investors wanting to buy crypto and hold it for a long period of time. For these people, cold wallet is an ultimate “buy and forget” option that needs no attention or maintenance

Cons of a cold wallet:

Cold wallets are generally more expensive than hot wallets. They always are pieces of hardware or some physical mediums of information storage, such as paper

When dealing with altcoins, it is easier to find a hot wallet compatible with a particular coin than a cold wallet. This situation is especially likely to occur if the altcoin in question is still not too popular.

In short, hot wallets can be described as more convenient but less secure. In contrast, cold wallets can boast enhanced security but are more difficult to use.

It might be useful to have both wallet types. Cold wallet can be used for storing Bitcoin and/or altcoins and hot wallet for sending small amounts of cryptocurrency and trading. Users also should remember about the vulnerable nature of hot wallets and try to store big amounts of cryptocurrencies on cold wallets only.

Single currency vs multicurrency

Cryptocurrency wallets, both cold and hot, can be designed to store either one particular cryptocurrency, such as Bitcoin or Ether, or a number of different coins. Usually, there aren’t any particular differences between these two wallet types. However, single currency wallets are more likely to offer some extra options related to the currency they store. For example, single currency Bitcoin wallets are more likely to offer full Lightning Network support than multicurrency ones.

Wallet types

There are many types of cryptocurrency wallets in existence. All of them exist for some reason and are tailored to the needs of different users. Because the needs of the users are not the same, there is no answer to the question “What type of Bitcoin wallet is the best?”. Sometimes a more convenient wallet can be a better choice for a particular use case, even if it means sacrificing some amount of security. In other cases, such a tradeoff makes no sense. Different users, different needs, different recipe for a “perfect cryptocurrency wallet”.

However, some of the wallets are more secure by design, as explained previously in the article. Here is a list of the most popular crypto wallet types, with the least secure options listed in the beginning and more secure ones in the end of the list.

Web wallet (hot)

Web wallets usually (but not always) store user’s private keys on a centralized server controlled by the company providing the wallet. Centralized exchanges, such as Binance, are technically web wallets with trading functionality. They are accessible from practically any device with a web browser.

Pros:

Web wallets are convenient and can be accessed from anywhere in a matter of minutes.

If a web wallet is a part of a crypto exchange, user can trade cryptocurrencies stored in it without having to make transactions.

Cons:

Highly vulnerable to cyber attacks, especially if the private keys of all users are stored on the single server. In this case, the wallet (or exchange) becomes a major target for hackers. Hack one server, get hundreds of private keys – sounds tempting, doesn’t it?

Use if:

You are a daytrader that wants to react to price fluctuations quickly.

You want to keep small amounts of cryptocurrency ready for quick transactions, such as payments.

Mobile wallet (hot)

Nowadays, almost everyone is carrying their smartphone around. Blockchain wallet developers recognized that an app for mobile platforms would be a perfect tool for those wanting to pay for goods using crypto on a daily basis.

Mobile wallet is a smartphone application which stores user’s private keys. It allows to pay for different products and services using crypto – however, the merchant must be accepting cryptocurrency.

Bitcoin mobile wallets cannot run a full Bitcoin client on a smartphone because of the memory limitations. Instead, such wallets use something called simplified payment verification (SPV). This is a less secure solution, but one that is at least possible to implement on a phone.

Pros:

Mobile wallets can provide extra functionality, such as NFC support. Of course, the features only work if they are supported by smartphone.

Cons:

An app can contain malware, especially when downloading from unofficial sources.

You can lose all the cryptocurrency if the phone gets stolen, for example.

Use if:

You want to use cryptocurrency for daily purchases.

Desktop wallet (hot)

This type of wallet is a computer program that stores user’s private keys. The fact that the keys are not stored on a server makes desktop wallets more secure than mobile and web ones. However, this type of wallet is still considered “hot”, because Bitcoin or any other cryptocurrency type gets stored on a device with Internet access.

Still, compared to the other types of hot wallets, desktop cryptocurrency wallets allow for a greater control of the private keys. There is a wide selection of desktop wallets, both open-source (which guarantees that there are no backdoors) and closed source.

Pros:

Wide choice of wallets with emphasis on different features. There are, for example, privacy-focused or security-focused desktop wallets.

Cons:

It is still a software piece, which might contain malware if it is downloaded from unofficial sources.

Use if:

You are frequently trading but do not want to keep your private keys on a third-party server.

Paper wallet (cold)

Paper wallet is, well, a piece of paper with public and private keys printed on it.

In order to create a paper wallet, user must use services like BitAddress, which generate public and private keys. Important: only choose services that generate private keys offline, and turn off the Internet access before starting the key generating process. To make sure that your computer is entirely secure, it is advisable to download and boot live version of Ubuntu (which is completely free!). One more safety precaution is to make sure you use printer that is not connected to the network.

The end result is a document with a QR code printed on it.

You should also remember that the paper can be stolen or physically damaged, so make sure you protect it accordingly. Usually, paper wallet users protect them by putting into sealed plastic bags or laminating them. Also, it is wise to store the wallet in a safe place.

Pros:

The wallet itself cannot possibly be hacked, because it is just a piece of paper.

Cons:

Security can be compromised during the creation of the wallet or importing it into the software when making transactions.

Paper is not durable, it can be easily damaged by the water, sun etc. if not protected properly.

Use if:

You want to buy crypto once and store it for a long time without worrying about hackers.

Hardware wallet (cold)

A hardware wallet is an electronic device designed solely for storing user’s private keys. As for the time of publishing, there have been no cases of cryptocurrency stolen from hardware wallets. This makes this type of wallet one of the most secure ones out there. In fact, it is even safer than paper wallet, because a paper wallet has to be imported to software eventually.

Typically, hardware wallet is a gadget that resembles a USB stick that has one or several buttons. Some of the wallets have an in-built screen which can display vital information, making them even more secure. When making a transaction, the wallet has to be connected to a device with Internet access, such as a PC or a mobile phone. Usually this is done with a USB cable, or, in some cases, with Bluetooth connection.

Pros:

  • Easy to use.
  • Highly secure.

Cons:

Hardware wallets are possibly the most expensive option of storing cryptocurrencies. The cost of devices ranges from several tens to several hundreds USD.

When buying a hardware wallet, user has to be extremely careful. Always buy the wallet from the official marketplace and never from websites like eBay.

Use if:

You want your cryptocurrency holdings to be as secure as possible.

Wonder which hardware wallet is the best? Find out in our guide!

Other options

Physical Bitcoin

Physical Bitcoin is a coin-shaped or a credit card-shaped object that contains public key and a private key under a peelable layer. Once the layer is peeled, both keys can be seen, but the object itself loses all its value.

In the last few years, companies producing physical Bitcoins have encountered regulatory problems. In some countries such a type of cryptocurrency wallet might be considered counterfeit money, making it not advisable to use one.

Smartphone with integrated hardware wallet

A few years ago various startups, such as Sirin Labs, started to produce smartphones with in-built hardware wallets. Sirin Labs’ smartphone, Finney, has a second screen and extra processing units dedicated solely to storing and sending cryptocurrencies. The company claims that its solution is highly secure.

However, it remains unclear why would anyone buy such a smartphone. Smartphones with integrated hardware wallet are generally more expensive and bulky than comparable “ordinary” smartphones. Finney phone, for instance, costs 1000 USD. Therefore, for ordinary users, it might be more logical to buy a “normal” smartphone and a hardware wallet (and have some money to spare).

Recently, large smartphone manufacturers, such as Samsung, have joined this trend and now allow users to store cryptocurrency on the smartphone out-of-the-box. However, this kind of solution is less secure than the smartphones with additional memory chip and processing unit dedicated solely to storing crypto and processing transactions.

The round-up

Here are the most important things you should remember:

Bitcoin wallet stores your private and public keys, not the coins. The coins themselves are always stored in the blockchain. Private key just gives you access to them.

There are single currency and multicurrency wallets out there.

It makes sense to choose wallet type depending on your particular use scenario

Cold wallets are generally safer, hot wallets – more convenient and easier to access from anywhere.

It is better to steer clear of Physical Bitcoin and analyze whether the smartphone with in-built hard wallet is worth it.

We hope you enjoyed the article. If you found it helpful, feel free to share it and join our community and digest!

Best Electric Shaver For African American Men

Now for most men have suffered from a lot of issues result in razor burns or ingrown hairs at one point to another, and a large percentage of men have to go to the barber to get a regular basis to eliminate razor burn and bumps. Of course, this is obviously for black men as predominantly curly and wiry body hair. Shaving some sensitive area where always causing irritation, such as follicles is really difficult, you have to tend to curve back and re-shave as they grow. Ingrown hair most commonly appears among black men having curly hair, which hair curly back or grows sideway into the skin. Major discomfort in the neck or beard area always accompanies ingrown hair, which can affect black men for year by year.

Top Rated Electric Shavers for African American Men

Braun Series7 790cc Shaver

  • 3 Personalization Modes for shaving sensitive skin.
  • Quick 5 minute charge
  • 10,000 micro vibrations to help capture more hair.
  • The 3D system runs very quietly.
  • The 3D works best especially in the most difficult area.
  • You can get a well-cleaned shave with a total shave time of less than 3 min. It’s our best electric shaver for 2013! Feedback from lots of users shows that it gives them a clean and quick shave with no skin irritations. The quality clean and renew 3D shaving system of Braun is also a plus and it works great. Overall, the product is a preferred shaving kit for black men who are seeking for electric shaver that will help eliminate razor burn and bumps, while getting all the hair off the face. Here is our review. Click here to see the reasonable price for this beard shaving kit on Amazon.

Panasonic ES8249S Nanotech 4-Blade (Arc 4) Electric Shaver

  • 4 Nanotech blades
  • shaving only takes 5 1/2 minutes
  • It comes with a fast motor drive
  • The floating head follows facial contours to provide a comfortable shave, to follow the contours of your face Panasonic ES8249S is the best option when you want to get a wet shaving in the bathroom. To reduce the skin irritation, the shaver comes with a floating head that can rock up/down to fit your shape of face. The built-in high speed motor and 4 Panasonic ES8249S will not force you to go over the same area of skin over and over again, effectively reduce the razor burns. You might think it’s expensive, and 371 reviews and 4.5 stars prove that it should come first in your list when you really want to get a clean shaver for a head or beards without razor burn and bumps. Click here to see the reasonable price for this beard shaving kit on Amazon.

Shaving Tips For Black Men

Of course, there are a few course of action that can be taken to prevent these troublesome problems. The ultimate but obviously unpractical way seems to be give up shaving, thus we need many proper shaving techniques and preparation of skin before shaving to get well-shaven appearance without skin problems. Now, following these simple men’s shaving tips to keep your smooth skin.

1. Avoid frequent shaving every other day, reduce the number of shaving times and allows hairs grow straight.

2. Apply the proper amount of lubrication (shaving cream, gel, or soap) is essential to make sure the hair above the surface of the skin.

3. Soften hairs before shaving by clapping warm water, this give you the ability to shave close to the skin.

4. Make sure shave in the direction of hair growth even shaving the other direction seems to give a clean shave. Relax during shaving, taut skin can also cause ingrown hairs to form.

5. Pay more attention and take your time when shaving. Short shaving time without preparation can dramatically increase razor bumps.

At last, take a look at your shaving kit if you find that yourself suffered from razor bumps. May be or not you’re the electric shaver fans, but the fact is modern shaver technology has gone a long way. No doubt that the well-designed but a bit cost ones, as compared with the old razors, they have the overwhelming advantages of reducing the chances of irritation and improperly cutting hair. Now, let’s take a look at many high-rated black men’s electric shavers available in the market.

Understand The Bitkingfx Project Should You Invest In Bitkingfx

The world of cryptocurrency is full of projects to invest in, and with so many to choose from, it can be hard to make a decision.

So, what have I got in store for you today?

In this guide, I am going to talk about BitkingFx, the pros and cons of BitkingFx investment, and how to invest in BitkingFx. And by the end of this guide, you’ll have a greater understanding of BitkingFx — and you will be able to answer the question “Is BitkingFx worth buying?”.

The Begin of BitkingFx

The idea of BitkingFx was first proposed in late 2016 by Edward Graham, an expert in computer technology who realized the apparent shift of finance towards Fintech 4.0. With a vision towards a new, transparent, and efficient financial market, Graham decided to establish BitkingFx and attract leading experts in this field. The core BitkingFx team includes Edward Graham, Harley Davis, Ken Harrison, Lizzie Stevens, and Harris Butler.

In early 2019, they began developing BitkingFx. Since then, the BitkingFx team has made many improvements.

What Is BitkingFx?

BitkingFx is an investment fund that is invested in blockchain technology. Their vision is to create a blockchain ecosystem that sustainably creates value.

Bitcoin uses a technology called blockchain specifically for conducting monetary transactions – it’s a straight currency. BitkingFx uses blockchain technology to allow the creation of applications that can be executed in the cloud, can be protected from manipulation, and much more (some stuff getting too technical for me here). However, a by-product of this is that BitkingFx uses a token called BTK, which is like Bitcoin, to transact. This is the monetary value portion of BitkingFx.

Is BitkingFx a safe investment?

All investments involve some kind of risk. The typical investor’s advice – only invest what you can afford to – applies just as much to cryptocurrency as to traditional investing, such as with gold, oil, or stocks. BitkingFx and other digital assets are still vulnerable to stock market performance, even if they are less volatile than they used to be.

Nonetheless, BitkingFx’s usefulness in creating a blockchain ecosystem, along with the fact that many applications are based on the BitkingFx chain, means that BitkingFx could be a wise investment in the long run when the crypto market has had time to mature.

BitkingFx investment trust

A trustworthy crypto exchange will empower its users by providing education materials, webinars, demos, and trading signals. The Bitking Academy, which helps clients on their journey from beginner traders to crypto market experts, is backed up by a helpful support team and a fully functional demo program to make sure users have everything they need to manage their investment successfully.

BitkingFx Investment Fund invests in potential areas including:

• Online money gateway with BTK Fiat Gateway

• Online betting game with Online Casino

• Financial investment platform with Binary Option Exchange

• E-commerce blockchain with E-Commerce

• Thousands of classes provide investment knowledge with Academi BTK

• Artificial intelligence supports trade with BitTrade AI.

Because of its unique abilities, BitkingFx has attracted all types of attention – from finance to betting, to investors, software developers, hardware manufacturers, and more.

I’ll assume BitkingFx will be one of the coins you’re most interested in throwing your money in to. But that comes with good reason — a project that is rated as the unicorn of 2020 with strong development potential and exceptional leadership.

10 Things You Knew About The World Cup

1. Fact: The World Cup was first invented by a gang of rugged, ruthless, ‘big boned and hardy handsome’ homosexuals who liked to see men with hairy legs running around in tight fitting shorts and kissing openly after scoring goals.

2. Players in the modern game have to go through rigorous stretching exercises including the glutemous maximous or ‘arse stretching’ as it’s know amongst the more ‘colourful’ players.

3. French sensation Just Fontaine was the tournament’s top scorer in ‘Sweden 58’ with 13 goals in the tournament held in Sweden. He also got ‘gobbed off’ by an eager to please Pele during the legendary Brazilians first outing in the competition.

4. Pele is now the world spokesman for erectile dysfunction.

5. There is nothing even slightly amusing about ‘erectile dysfunction’ so stop sniggering at the back.

6. Viagra can be pretty expensive if you want to have a regular enthusiastic sex life.

7. Apparently There are two different types of cyclist:- Those that have erectile dysfunction and those that are going to get erectile dysfunction.

8. Now look I’ve told you once – There is nothing at all amusing about erectile disfunction so will you please stop sniggering at the back.

9. In ‘Italy 34’ there were widspread accusation of bribery and match fixing by ‘flouncing facist’ leader Bennito Mussolini. This included paying referees, threatening players and bribing the scorers at the after match darts tournament which Bennito won although he never actually hit a double in the entire competition. Incidentally the darts tourney was sponsored by Borlands darts and Television of Leith Walk. Established 1925.

10. The World Cup is a competion that takes place every 4 years between ‘like minded individuals.’

11. Television advertisers now commonly except that the majority of viewers of the World Cup are ‘somewhat musical, confirmed batchelors’ who like to wear tight fitting denims and well manicured facial hair. They will invariably holiday in Miami or Formenterre whilst drinking copious amounts of Taboo, Mirage, Babycham and cider tops. Most will have ‘The Old Firm against bigotry’ tatooed on their fingers and will listen to Kylie, Madonna or anything by ‘the lads from Erasure.’

12. Norman Hunter and Francis Lee have subsequently kissed and made up after their infamous fight during a leeds Utd – Manchester City encounter in the early seventies. They now share a double bedroom semi in Birmingham. When they’re not attending twice -weekly pottery classes they spend their time flower arranging, theatre-going, visiting galleries and ‘places of interest’ in the west Midlands.

13. Sir Alex Ferguson first signed Ryan Giggs after meeting him on a night out at CC Blooms.

14. George Micheal, Ashley Cole, Marc Almond and Sol Campbell think the world cup is ‘simply smashing.’

15. John Inman has scored twice at the world cup. Once in Mexico 86′ at the Hotel Cockring and once in Argentina at Pub ‘Big Boy’ in 78′.

How To Clean An Outlet

Now, some people probably slept over the physics class in the school, where the basics behind the electricity are explained. The alternate currents, direct currents, the resistance, does it ring any bells ? Even knowing these things, does not make you feel any safer, when from your childhood you have been explained how NOT to put your fingers in the outlet. However – dust does become a problem, especially in those tight spots. Here we are going to explain to you how to easily and safely clean an outlet.

First of all – no water. This is as worse as you can do. The outlet is basically this – two conducts, separated from each other. Touching either of them is safe, because no circuit is being formed, but touching both together – here come the lights. And they have nothing in common with the AC/DC concert fun lights. You CAN be injured. So do not make a connection with them. Better yet – before you go on with the cleaning, switch the fuse, for that particular outlet.

Even then you should exercise extreme caution while doing your domestic cleaners London thing improvisation. The cleaning itself, you may begin by disassembling the power outlet. It should be done, with the fuses switched off, and a screw driver. Usually it is pretty simple to remove the outlet. Another way to do it is with a vacuum cleaner. Just put the pipe inside and suck. Then again, if you do not wish to go in too deep, you can grab a dry cloth and just sweep inside, as far as you can reach.

On the other hand, cleaning it thoroughly should be a priority for your pride, so you may take the cover of the outlet – that plastic thing that makes the plug fit inside, and clean inside more thoroughly. If hiring a professional cleaner, you can point out to them those close spots, not just the outlets, where dirt accumulate overtime, but are usually neglected to be cleaned. Dirty deeds are done dirt cheap, so hiring a pro to clean the house is a good offer. Cleaners in London offer good carpet cleaning prices as well, so you might want to check them out.