If you are one among the others who are going crazy for bitcoins and have invested in it, then you need to store the bitcoins in a safe place to keep it away from hackers and online threats. There are many bitcoin wallets available. Each wallet will have a specific purpose and a trading strategy. For instance, one can use a hardware wallet to hold some amount of bitcoins as these are highly secure, but pricey.
Online wallets that are offered by the bitcoin exchanges are for the beginners who are new to the world of cryptocurrency. These people show interest in using new types of bitcoin exchanges or would like to invest a small amount of money in trading. With the help of an online wallet, people can buy the bitcoins in a jiffy.
On the flip side, mobile wallets are perfect for the people who want to carry out trading on the go. With the increase in demand for a mobile bitcoin wallet, many apps are mushrooming in the virtual world. These allow people to access the wallet from anyplace globally and at any time provided with an internet connection.
The mobile bitcoin wallets offer many benefits. Many people have a misconception that using a mobile wallet would put them into risks. The only problem with the mobile wallet is that it stores the bitcoins with private keys. When the software is hacked, the private keys would also get buggy.
Many businesses are accepting bitcoins as one of the payment methods in their checkout process. A few of the places where the bitcoins are accepted include restaurants, eCommerce sites, coffee shops, and big food chains. When you want to make a payment at the local restaurant, you can use the mobile wallet. It is highly convenient and easy for you to make the payment.
Easy to access
Mobile wallets are ideal for people who are always on the move. For instance, if you are traveling to another place and want to check your bitcoin wallet from time to time, then download the mobile wallet on your device so that you can keep a tab on the bitcoins in your account. You can send and receive funds using mobile wallets. There are also bitcoin ATMs available in a few places. The mobile wallets are helpful for the people who want to check the bitcoin status from time to time.
You can also make payments in the coffee shops, pay utility bills, or buy movie tickets using the bitcoins on the phone. You can also buy bitcoins using your debit and credit card.
It is highly secure to store bitcoins in the mobile wallet than storing the bitcoins on your laptop. There are high chances for the laptops to get prone to security threats, which result in hacking of the mobile wallet. The majority of mobile phones will have Trusted Execution Environment (TEE). The purpose of this environment is to set private keys for the bitcoins to avoid hackers to break into the mobile phone and steal your bitcoins. Although the mobile gets hacked, there is no chance for the hacker to hack the private key information to get into your bitcoin wallet account.
Recharge debit or credit card
The best news is that you can use bitcoins to recharge your debit or credit card. When the card is recharged, you are good to use the cards for shopping at anyplace.
Feel pride using the latest technology
You can show off to your friends and family that you are using bitcoins, which are the digital currency. You can pay tips in the restaurants using bitcoins and show how forward-thinking you are to the world.
These are a few benefits you can reap by using a mobile-based bitcoin wallet. Using a mobile wallet is highly convenient and handy. You can pay the amount in any of the physical stores. The best thing about the wallet is that it allows you to access it wherever you go, provided you have the internet connection. By having a mobile wallet, you can buy the bitcoins instantly and explore the world of crypto trading. The beginners can test the waters by investing a small amount in crypto trading.