Bitcoin Wallet For Android

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.

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BTCs comes in chaotic waves of trading, mining, and exchanging. You can try all of the ways but any journey of cryptocurrency will begin with the wallet software for Android or iOS that store your coins safely ever after. So, we’re going to divide the section into two parts and today you’ll read about one of the oldest and highly appreciated Android Bitcoin Wallet. But first, let’s learn some basics about this world of digital currency.

A Bitcoin Wallet – What is It?

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:

  1. A public key (secret codes) that user can reveal to third-parties in order to get paid.
  2. A private one that must be kept hidden from everyone (If someone gets access to your private key they can steal your money!).

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.

Variety of Android wallet apps

Types of Bitcoin Wallets

There are particular groups of them, actually, we’ll cover them all quickly.

1. Hot Wallets that run on Internet-connected gadgets.

  • Mobile apps – the device represent a place to store the bitcoins.
  • Web – simply a website that handles your fund on its servers. See? You entrust your finances to a third-party to keep them safe, so consider the security of such service.
  • Desktop Software – it’s installed on your computer that connected to the Internet. Think of your hard drive as an actual portemonnaie which you can’t lose or allow to be stolen.
  • Hybrid ones – and here are the independent mobile or desktop wallets that can be accessed via the web by using a password.

Web and Mobile wallets

The pros of this category?

  • It the best and easiest choice if you want to store small amounts of bitcoins.
  • Payments are easy, convenient, and fast.
  • With some of these applications, you can access your funds across multiple devices.

The cons?

  • The level of protection isn’t satisfying if you plan to store large amounts of BTCs.

2. Hardware Wallets – physical electronic devices for securing the coins.

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?

  • The most secure way to store all amount of BTCs.
  • Hardware wallet is a convenient and reliable storage.
  • You can easily create a secret backup code and retrieve your fund even if the wallet has been stolen, lost, or damaged somehow.
  • Fewer errors and fast setup.

The cons?

  • 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.

How to Secure Your BTC App?

Security of your BTC App

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?

  1. Enable two-factor authentication to prevent all unauthorized actions on your wallet.
  2. Forbid your browser to remember your login and credentials info.
  3. Use multi-sig feature that requires multiple signatures from authorized devices to complete the public key.
  4. If possible, take some of your coins in the offline Cold Storage for protection.

How to Put Bitcoins in Wallet?

As we wrote above, there is a couple of ways to get yourself some BTCs:

  1. Simply buy them from a Bitcoin Exchange;
  2. Mine them yourself (Bitminter).

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.

How Can You Spend Your Digital Money?

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.

  • You can spend BTC on buying electronics, software, and gear.
  • Purchase gift cards for hundreds of restaurants and stores worldwide.
  • Book flights and travel amenities.
  • Some companies like Amazon offer huge discounts.
  • Bitcoin.com has its games portal where you can play in a virtual casino without registration, completely anonymous. Games include video poker, blackjack, roulette, dice, keno, and craps.
  • The platforms like BitPremier or Bitcoin Real Estate will help you buy real estate and luxury items.

Which Wallet Do You Require?

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...

Bitcoin Wallet for Android Platform

One of the oldest names in the niche, Bitcoin Android app (or “Schildbach Wallet”) was the first of a kind. Its Bitcoin wallet for Android

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:

  • No registration, web service or cloud is required.
  • Bitcoin amount is displayed in BTC, mBTC, and µBTC.
  • Quick sending and receiving payments via NFC, QR-codes scanning or Bitcoin URLs.
  • Conversion option to and from national currencies.
  • An address book for regularly used BTC addresses.
  • In offline mode, you can pay via Bluetooth.
  • There are system notifications for received coins.
  • Sweeping of paper portemonnaies.
  • Cool widget for your money balance.
  • The app blocks sending payments while blockchain replay is in progress.

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.

Download it from Google Play Store

Conclusion

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.

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