Hello fellow HODLers! Recently some customer who are relatively new to Bitcoin and cryptocurrencies managed to find their way onto XanPool. And realized that unlike most other fiat gateways out there, WE DON’T TAKE CUSTODY of your crypto or fiat. Instead, we automatically link you up with a buyer or seller (who you don’t have to interact with at all), and simply give you instructions as to where to send your Bitcoin or fiat.
Because of this, when buying Bitcoin from our peer network, we need you to input your Bitcoin wallet address during the transaction, so that the Bitcoin will be sent to your address the moment you send your local currency.
To buy Bitcoin from XanPool, you actually NEED a Bitcoin wallet. And for those of you who do not yet have you own Bitcoin wallet (which is not okay, because not your keys, not your Bitcoin!), I would like to share with you the ones that I personally use.
Bitcoin Wallets That Require Only A Computer Or Laptop
Below I will roughly cover three Bitcoin wallets that can be accessed through only a PC (Windows or Mac).
Blockstream Green Wallet (https://blockstream.com/green/)
The Green Wallet is a very user friendly wallet that stays up to date with the latest Bitcoin functionalities. It’s definitely a wallet that is easy to use for newbies into Bitcoin and cryptocurrency.
Click here for link to a Youtube video that shows you how to use the Green Wallet.
Samourai Wallet (https://samouraiwallet.com/features)
The Samourai Wallet is also a relatively user friendly Bitcoin wallet. They were among the first PC and mobile wallets to implement Segwit (Bitcoin software upgrade). They offer slightly more functionality to the Green Wallet, however, for newbies, I would suggest Green Wallet over Samourai.
You can find a guide on how to use Samourai Wallet here.
Electrum Wallet (https://electrum.org/#home)
Electrum wallet is by far my favorite PC wallet to use. They have ALOT of functionalities thought newbies will have to contend with a rather poor user experience and less attractive interface. Nonetheless, Electrum has some very powerful functionality and it would be good to familiarize yourself with one of the olded Bitcoin wallets around.
You can find a guide on how to use Electrum Wallet here.
Bitcoin Wallets That Require Only A Mobile Phone
Samurai Wallet is does not only support the PC but is actually also available on Android! Has good privacy features, whilst maintaining it’s relative user friendliness.
Mycelium was the very first Android Bitcoin wallet I ever used. They support the latest Segwit address formats (Which help you save on Bitcoin transaction fees). The instructions are very user friendly, and it wouldn’t hurt to have a Mycelium wallet on your phone.
Bitcoin Wallets That Require Additional Hardware
Bitcoin hardware wallets tend to add a layer of security because unlike your PC or Android phone, hardware wallets do not interface directly with the internet, which drastically reduced the attack surface. The downside is that you would have to purchase additional hardware for this added layer of security. I think that this cost is worthwhile if you hold over three thousand USD of Bitcoin
The below three hardware wallets that I will recommend, are all compatible (meaning that you can use them with) the above mentioned PC Bitcoin wallets.
Trezor Hardware Wallets (https://trezor.io/)
The Trezor Hardware wallet model T is the first hardware wallet I ever bought. A very durable device that lasts for years. Throughout the years, some security flaws have arisen, but the team has always been quick in patching them up.
Here is a quick video on how to use the Trezor Model T hardware wallet
Ledger Hardware Wallet (https://www.ledger.com/)
The Ledger Hardware wallet models are cheaper than the Trezor, thought in my opinion also less user friendly.
Here is a quick video on how to use the Ledger Nano hardware wallet
Cold Card Hardware Wallet (https://coldcardwallet.com/)
The Cold Card Hardware wallet is a relative newer brand, it prides itself on various security features and having it’s source code open source. Thought it is less user friendly for newbies in the space.
Here is a video on how to use the Cold Card Hardware wallet.
So here we have it. Some Bitcoin wallets that I have personally used throughout the years, that I think are suitable for you guys to use as well. Regardless of which wallet you use, the point of owning and running your own Bitcoin wallets to have full control over your Bitcoins, without having to rely upon a custodian.