Prescott Regency - Four Bitcoin Wallets That Offer Maximum Security 

Bitcoin investment is profitable only when stored in the right wallet. A Bitcoin wallet is an analogue to bank accounts for fiat money. Choosing the right wallet is not simply a matter of choice between ease of use and security. When security is the prime focus, there is no better option than Bitcoin banks like Xapo and Coinbase. Coins are held secure through private keys and are ideal when considered as off-ramps and on-ramps for Bitcoin ownership, not for prolonged storage.

Bitcoin wallets are packed with features


Web based, and mobile wallets are easy to set up and offer an array of unique features. Having a wallet enables Bitcoin transactions. There are two types of wallets; hot wallets and hardware. Hot wallets are best for storing a limited amount of coins, and are more convenient than hardware wallets. An ideal beginner wallet is Copay, but for seasoned investors who are looking at improved security, here are Prescott Regency’s top 4 picks.
  1. BlockChain: Blockchain has a reach of 8 million users. Services offered by Blockchain are accessible through smart phones and computer browsers. It is one of the wallet services that offer hybrid wallets. The disadvantage of Blockchain is the third party storage of private keys. Also, payments made through Blockchain are not anonymous.
  2. CoinBase: CoinBase is a Bitcoin wallet service, and a full-fledged exchange and broker. Coinbase is a popular choice as it offers an intuitive wallet ideal for beginners. But, the newly introduced service of Vault restricts access to stored Bitcoins. Also, Coinbase doesn’t charge a transaction fee, though a miner’s fee is applicable. The advantages of Coinbase are that it allows fund addition from within the wallet, and is well established in the market. The disadvantages of Coinbase are the lower standards of security, and tracking of Bitcoin transactions. Coinbase also holds the authority to freeze accounts.
  3. Armory: A sophisticated desktop Bitcoin wallet application, Armory is one of the safest services. The state-of-the-art security system enables offline private key operation. It is the best choice to save $1000, or 1 billion Bitcoins. Private keys are under the autonomous power of the user. The only disadvantage of Armory is that it is complex, and not easily understood by beginners.
  4. MyCelium: Experienced Bitcoin users recommend Mycelium, as it is a HD wallet packed with advanced features. These include hardware support for Ledger and TREZOR, cold storage spending, watch only accounts, and Tor. However, understanding Mycelium can be challenging for beginners.
To find out more about Bitcoin storage wallets, contact our experts at Prescott Regency today.

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