The main types:
- Mobile: A Smart phone app, allowing 24-hour access to accounts
- Desktop: Software that runs on a computer
- Hardware: An external storage device containing the necessary software, which is both portable and secure
- Web-based: A wallet effectively in cloud storage
- Paper: A physical representation of the online storage of bitcoins, printed with a QR code and a copy of the private key
There are pros and cons for each type of bitcoin wallet; the paper version, for example, can’t be stolen by hackers but can be lost. However, when a responsible user ensures their wallet has a strong and unique password, this is a valuable and secure method of exchanging funds.
Free Secure Bitcoin Wallet
We encrypt all user secrets linked to your wallets through a 256-bit AES cipher and 25,000 PBKDF2 hash rounds. This makes cracking a single Secret PIN extremely resource intensive: requiring over 1 million days on state of the art computers today!
Zero Knowledge of your Secrets
We are unaware of your Secret PIN, and cannot recover these even if we tried. Your Secret PIN is never sent over the network.
We minimize use of Secrets
We use Multi-signature wallets built on top of Hierarchical Deterministic wallets (HD wallets), as outlined by the BIP0032 standard, to generate new addresses for your account without ever needing access to old or new addresses’ private keys.
Security Best Practices