Bitcoins were invented by an anonymous team of programmers, and they had an aim of creating a digital currency. Bitcoins are now widely accepted as a form of payment and also can be exchanged with other currencies. Physical money is usually put in bank accounts and therefore, there was a need to create storage for the digital currency as well.
As a result, bitcoin wallets were created to help with the issue of storing digital currency. A wallet comprises of two types of cryptographic keys namely: public keys and private keys. There are five types of bitcoin wallets, and their mode of working is explained below.
Desktop wallets were made by installing bitcoin clients on desktop machines. These desktop applications allow the user to create bitcoin addresses for sending and receiving virtual currency and also safely keep the private key for it.
It was also considered that mobile phones had become the easiest way to reach people remotely was to use a platform that they encounter with most of the time. Therefore, it was convenient to develop a mobile wallet. However, the mobile applications are not entirely bitcoin clients because they do not download the blockchains of bitcoins. The reason why they do not download the blockchains is that the mobile storage cannot easily accommodate the blockchains of the bitcoins.
The mobile wallets are available for all mobile operating systems. The mobile wallet of iOS was scrapped off from the app store in the year 2013 because Apple company had the benefit of doubt on the use of bitcoins. In July 2014, bitcoin wallet applications resurfaced in the iOS application stores with improved versions of the previously made iOS applications. On mobile devices, browsers also support bitcoin wallets and save the user the agony of installing an application.
These wallets store your cryptocurrency information on online servers. These online servers are linked to desktop and mobile applications. Online wallets can be accessed from any device and at any time because they are not localized as compared to mobile wallets and desktop wallets. However, online wallets are considered to be risky because they can give service providers access to control your bitcoins.
Hardware wallets are special devices that have been dedicated to handling bitcoins, storing private keys and also, they can be used in making payments. Most bitcoin users prefer this device to placing their bitcoins into someone else’s hands, who may end up tampering with them.
Ledger USB Wallet
This USB device is highly secured and cannot be accessed just like any other USB memory stick. It requires authentication from the user before it can give access to bitcoin information of an individual.
Paper wallets are the most common way of storing bitcoins, and it is provided by many companies. The bitcoin paper wallet works in such a way that, it has two QR codes printed on it. One QR code allows bitcoin owners to get access to their bitcoins while the other is used for the spending of the bitcoins.
The paper wallet has more security advantages compared to online wallets since private keys on paper wallets are stored physically, and therefore they are nor vulnerable to cyber-attacks.
Recommended Wallets For Beginners
Coinbase is a hosted wallet that is user-friendly, and it allows the users to receive bitcoins by email. Its user-friendliness makes it the most suitable for beginners. Coinbase has also developed an android application which enables users to access their account activities in an instant.
Coinbase has established its roots as one company that deals in bitcoins that have not suffered a significant hack compared to other leading bitcoin companies.
Electrum is a bitcoin software that mainly focuses on the security of the user. During the registration process, the users are given a twelve-digit code which they can use to retrieve their bitcoins in case their computers crash.
The wallet is also encrypted which it makes almost impossible for hackers to phish into user accounts.
Bitcoin Wallet For Android And Blackberry
These applications are suitable for those who are used to doing transactions anywhere they are. The recommended application is known as Bitcoin Wallet mobile app which is supported on Android and Blackberry operating system and is among the best cryptocurrency wallets to use. The applications give one full control over their bitcoins.
Blockchain.info falls into the category of web wallets. They own an android application which makes users access their accounts more easily. It is also one of the easiest ways to own a bitcoin wallet because the registration details required are few.
People are always worried about their computers being attacked by malware and virus. Anti-malware and antivirus can protect their computer from different threats. These two are different and serves a different purpose. Here are the differences between anti-malware and anti-virus programs.
• The virus is a code capable of copying itself to do damage to your computer. This includes corrupting your system or deleting your data. Malware refers to malicious software like spyware, Trojans, worms, adware, virus, etc.
• All viruses are malware, but not all malware are viruses.
• Viruses have been around for a long time. They haven’t changed much since then. Anti-virus helps to fight viruses and other malware as well. However, they fight the old and established malware like viruses, Trojans, Worm, etc. Anti-malware, however, focus on the new types of malware like polymorphic malware.
• Anti-malware protects you from more dangerous threats than anti-virus.
• Anti-malware updates its rules quicker than antivirus.
A single tool cannot catch everything. There are many threats emerging often, and you need multiple tools to fight it. So, it’s better to use a layered approach to get rid of all kinds of malware. You can use an anti-virus program to catch the older threats and anti-malware program for the newer and more advanced threats. You can run both these programs simultaneously on your computer. No harm will be caused to your system as anti-malware programs are designed to work along with anti-virus programs.
There are many software available now that fights malware, like antivirus, anti-adware, anti-spyware, firewalls, etc. Many people get confused and don’t know which one to use. These are the steps you should follow to choose the best malware for your computer.
1. Get an antivirus software
This software has lots of options. There are many antivirus software available to choose from, each having different features. You should buy one that matches your requirements.Price should be taken into consideration when buying an antivirus software.
2. Get anti-spyware and anti-adware software
Antivirus software will get rid of many spyware and adware. Still, an anti-spyware and anti-adware are recommended. These are needed for on-demand scanning.
3. Get a firewall
Many people only rely on the Windows Firewall that comes with Windows. But this firewall cannot block the well the malware that is already in your home. There are many firewalls available in the market that you can buy. When you use a separate firewall, you must disable the Windows Firewall.
4. Get a safe browser
You get Internet Explorer 6 with many computers. But this is not a safe browser, though it is the simplest one. Other browsers are better than Internet Explorer. Firefox is good for customizability, Opera for lots of features and coping with slow Internet connections, and Google Chrome for light out of the box option. When you run too many programs at the same time on your computer, it slows down the machine. You should often defragment and clean your drive.
There are lots of malicious programs around that are very dangerous. Malware means ‘maliciou software’. It is the software that can be used to disrupt computer functions, steal data, and causeother harms to your computer. Following are the most common types of malware available today.
Adware is a software that automatically provides advertisements. The pop-up ads on websites are common forms of adware. This adware are sponsored by advertisers to serve as a revenue generating tool. Sometimes adware is bundled with spyware that can track your computer activities and steal information.
Bots can automatically do specific operations. Some bots are made for harmless purposes, like video gaming, online contests, etc. Bots might be used in botnets for DDoS attacks. These can
scrape server data. So, many websites use CAPTCHA tests to guard against bots.
It is a flaw that produces undesired result. These occurs due to human errors and remain in the source code usually. Minor bugs affect the program’s behaviour slightly. So, they often get
unnoticed. There are many bugs that cause freezing or crashing. Security bugs are dangerous as they can bypass user authentication and steal data.
It holds the computer system captive and demands a ransom. It restricts the user access to the computer by encrypting files on the hard disk or locking the system. It displays messages to force the user to pay the malware creator so that you can regain access to your computer.
It can remotely access or control your computer. The malicious party can execute files, access or steal data, alter software, etc. It is difficult to detect or prevent rootkit. One way to detect it is to monitor the behaviour of your computer for any irregular activity. All these malware are harmful to your computer. You should use antivirus software, anti- malware program and firewalls to protect your computer from these malware.