This video goes over the best wallets to hold your Bitcoin in to keep them safe long term. If you are invested in Bitcoin for the long haul, you need to be very careful with where you hold it. Luckily, this video will give you the best options for holding Bitcoin whether you are looking to day trade or hold for years!
Hardware/Cold Storage Wallets
Ledger Nano S:
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About this video: If you are investing in Bitcoin, you need to be very careful about which wallets you use to hold it. There have been hundreds of thousands of Bitcoins stolen since 2009, and most of the reason for this is because a bad wallet was chosen and then compromised. This video will help you avoid making that same mistake with your Bitcoin.
The first wallet we talk about in this video is an online wallet. There are hundreds of these wallets, but there are only two I would recommend currently. Coinbase and Blockchain.info. The rest seems a bit sketchy or have had recent downtime that turns me off from recommending them. For example, Kraken is a great online wallet, but their recent downtime made me exclude them from this video.
Next, we talk about the safest way to store your Bitcoin and cryptocurrency – cold storage, hardware wallets. These are wallets that keep your Bitcoin completely offline. If your Bitcoin isn’t connected to the internet in any way, it can’t be hacked. The two hardware wallets we recommend in this video are the Ledger Nano S and the Trezor. Both of these are great hardware wallets, and both will keep your Bitcoin 100% safe.
The third type of Bitcoin wallet we discuss in this video are desktop wallets. These wallets are safer than online wallets typically, but they do keep all of the Bitcoin on your own, local hard drive. This is good if you trust your security skills and that your computer will remain safe. It is also important to keep your private keys written on paper and nowhere on the internet. Don’t even take a picture with your phone!
Last, I give you some options for trading Bitcoin. These are not exactly wallets, but if you are looking to trade cryptocurrency pairs, your best options are Binance and KuCoin. I personally use Binance, but KuCoin has great Altcoins that you can’t find anywhere else. My suggestion is to check out both and see which one you like better.
Nevertheless, I hope this video did help you find a safe wallet to hold your Bitcoin in. If it did, please give the video a thumbs up and consider subscribing to the channel. It really helps us out, and it means a lot. Thanks very much in advance!
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