Continuing the topic of money management mobile apps, we decided to dive into the hottest field as of now – Bitcoin industry. It’s a relatively new cryptocurrency for instant payments anywhere in the world that pleases modern era customers with the convenience and privacy of the online transactions. In fact, the exchange rate relations of this currency and U.S. dollars are impressive and not everyone can afford to buy even like... 5 coins at once. This is where comes a handy distinctive feature of such coins – they could be bought in whatever increments you can afford.
If you’re a newbie in this financial world, there is an instruction on how to create and use BTC portemonnaies. It’s pretty enjoyable when you sort through, but you must choose a wallet service first.
In general, a cryptocurrency wallet is similar to a bank account since it allows to spend, store, send, and receive coins. And for any digital currency, you’ll need a very good app to manage it on your Android smartphone. A portemonnaie will give you a full control over your bitcoins. In a nutshell, an Android wallet is the mobile application, website, or device that manages private keys for you. Each such tool operates on a unique address that stores and transfers BTCs to other addresses.
Bitcoin wallets are protected by two secure keys:
Google Play Store is crowded with a wide range of Android wallet apps, the trouble is to choose the one that suits your needs the most. That’s why you should learn also what types of portemonnaies are available out there.
There are particular groups of them, actually, we’ll cover them all quickly.
The pros of this category?
The level of protection isn’t satisfying if you plan to store large amounts of BTCs.
They must be connected to a computer, phone, or tablet so you could operate with cryptocurrency. Hardware wallet keeps your private keys in a secure offline environment separate from vulnerable Internet-connected gadgets. This way your important keys stays protected even if a device would be plugged into an infected computer. In a word, hackers have no way to steal your bitcoins when even a hardware wallet itself could be protected with a PIN-code.
The pros of this category?
This type isn’t free – you’ll have to purchase the hardware.
All these products come with the initial security measures, but you’re still responsible for backing up your portemonnaie and empowering its safety. Remember that news about people who lost millions of coins due to the hacking or due to the company goes bankrupt. That said, no matter what Android Bitcoin app you’ll pick, make additional precautions to protect your BTCs.
Even with the fact that online wallets are more vulnerable than offline ones, keep in mind that offline portemonnaies can be breached too. Therefore, you must be sure that your passwords and keys are as safe as possible. What steps can you take in order to do so?
As we wrote above, there is a couple of ways to get yourself some BTCs:
The easiest option is obviously the first one. In exchanges, there are always buyers and sellers with their floating prices to buy and sell for. And if you want to turn into coins some physical cash there are Bitcoin ATMs now. The wallets also offer a number of buying options. You just need to click on your country’s flag to find the easiest way to purchase. One BTC is worth about $2444 – 2450 as of this day. For more fresh currency rate and other valuable bitcoin info, visit the Bitcoin.com.
There are tons of famous online retailers who already embraced this new financial technology by giving you an ability to purchase a range of their products with BTCs. Plenty of merchants accept cryptocurrency and the number of such shops only grows with each day. As of now, what can you do with your digital treasure? Let’s see.
To choose wisely you have to establish your purpose. Why are you using BTCs – to invest or to save? Then your best option is a hardware tool. For any other specific needs, mobile software will work just fine. More so, they’re free! From here you should decide what troubles you most since each wallet for Android has its advantages and disadvantages. Some applications focused on security, while others strongly protect the privacy of transactions.
But in any case, as a regular user, you won’t need something complicated or hard-to-understand, that is why we want to introduce you to the one and only...
One of the oldest names in the niche, Bitcoin Android app (or “Schildbach Wallet”) was the first of a kind. Its user interface is simple yet feature-rich which makes it a perfect educational tool for beginners. And this application is safer than the most mobile portemonnaies due to its direct connection to the Bitcoin network. So this is a great solution for those who seek convenience and safety of their BTC operations along with simplicity.
The development company provides a decentralized peer-to-peer system that gives customers a full of control over their funds. This wallet is an open source and free software and it is represented by high-transparency and strong security measures. You can have the BTCs in your pocket at any time! And if you’re a merchant, the payments will be transferred to your account instantly.
Set of features:
General Pros: Bitcoin Wallet for Android is a well-reputed brand with millions of installs and recommended by BitPay and Bitcoin.org. It has a fast and secure operating environment, however, newbies may spend some time grasping the system.
Cons: available only online and for Android or Blackberry.
And what is the verdict? Well, no one is safe from losses, hacks, or simply human errors. No app is 100% the best and it’s your responsibility to choose carefully and consider the options. We also strongly recommend checking one the most popular and reliable portemonnaies – Blockchain.info app for Android that is based on the Bitcoin Wallet code. Along with it, there are giants in the field like Mycelium and Coinbase which are both worth your attention.