You might be wondering, what is a bitcoin wallet for? Well, for one thing it can be used to store your Hashfinders profits! Hashfinders is a company that makes money through the process of speeding up the bitcoin network. You need a bitcoin wallet to make purchases with Hashfinders. While I will be talking about Bitcoin wallets in this post, I will also make mention of a great way to earn bitcoin and that is through Hashfinders. You can learn more about that in my Hashfinders review.
Bitcoin Wallets – A Lot To Choose From
So what exactly is a bitcoin wallet? First of all Bitcoin is a digital currency. You can make purchases with it, you can save it, spend it and earn it. Just like any other currency you also need a place to store it. Because bitcoin is not tangable, there is no bank or safe you can store your bitcoin in. You can’t put it in a drawer or keep it in your traditional wallet.
Thus the invention of the bitcoin wallet. There are many to choose from and each has it’s own appeal. For Today’s purpose I’m just going to talk about one wallet. One of the most popular wallets and the one that I use is called coinbase. With Coinbase you are able to store Bitcoin as well as many other Crypto-Currencies. You can also send and receive crypto currencies and trade crypto currencies.
Coinbase allows you to connect your bank account for easy access to your Bitcoin or other crypto currency. This allows you to withdraw your Bitcoin in the form of cash to your local bank.
Why You Need A Bitcoin Wallet – Hashfinders Again!
If you have ever bought, sold or traded Bitcoin, I’m sure you have a Bitcoin Wallet. The purpose of the wallet is to give you a safe place to store your crypto currency. Within Your wallet you are able to receive or send Bitcoin using a string of digits, called a hash. You can receive a hash from another party that you would paste into your “send” field in order to send Bitcoin to another party. In the same matter you can paste a hash into your “receive” field to receive Bitcoin.
Hashfinders is a company that speeds up the transaction of Bitcoin on the bitcoin network. Each one of these hashes needs to be confirmed a certain number of times. Some of the transactions remain unconfirmed and therefore take longer to process. By confirming these hashes, hashfinders speeds up the transaction. Hashfinders allows members to help with the process and shares the profits with it’s members. Once you have a bitcoin wallet you can participate in Hashfinders and start eaning bitcoin.
Once you have a Hashfinders account you can fund it and puchase your first package.
Take a look at this short video to learn how you can earn with your Bitcoin wallet and Hashfinders…
Things To Consider In a Bitcoin Wallet
When choosing a bitcoin wallet there are a few things to consider.
1. Conveinence – How easy is it to access your bitcoin and spend it when you need it? Some Wallets will allow you to connect to your bank account or debit card. Make sure you check to see how long it takes to transfer money from your Bitcoin wallet to your bank account. With Coinbase it takes about 2 days to get your cash.
2. Transaction Fees – Unfortunately, every bitcoin wallet has transaction fees. It’s a good idea to find out exactly what your wallet charges for each type of transaction.
3. Security – Everyone wants to be sure their money is safe. Since Bitcoin is completely digital it is even more important to have a secure place that cannot be hacked. Most wallets will offer a 2 – factor authentication. Also, there should be an explaination on their site as to how they keep your information secure.
Conclusion – My Final Thoughts
In my opinion Bitcoin is not going anywhere anytime soon. Most likely the day will come when Bitcoin is widely accepted by main stream stores and vendors. In order to be prepared for this I believe everyone should consider having a bitcoin wallet. You don’t have to buy Bitcoin in order to have a Bitcoin wallet. However, if you ever decide to purchase it, you will need a Bitcoin wallet.
If you have any interest in owning Bitcoin, it is imperitive that you have a bitcoin wallet. Also, if you would like to earn Bitcoin online you will find that a bitcoin wallet is needed for any company that pays in Bitcoin.
If you have any questions or comments about Bitcoin Wallets please leave a comment in the section below or reach out to me.
call or text: 682.593.3366