Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative
— Nassim Taleb – Author and Risk Analyst

BitCoin Wallet

Where do you "store" your bitcoins and what is a wallet?

A “wallet” is basically the Bitcoin equivalent of a bank account. It allows you to receive bitcoins, store them, and then send them to others. There are two main types of wallets. A software wallet is one that you install on your own computer or mobile device. 

You are in complete control over the security of your coins, but they can sometimes be tricky to install and maintain. A web wallet or hosted wallet is one that is hosted by a third party. They are often much easier to use, but you have to trust the provider to maintain high levels of security to protect your coins. 

There are many out there, but I mention just a couple of them that I have personal experience with.


Coinbase, available to users in over 30 countries as of 2016, is the world's largest Bitcoin broker and is located in San Francisco. Customers can buy bitcoin with a connected bank account, SEPA transfer, Interac Online, using a credit or debit card and many more payment options.

It is a web wallet with a simple design and a number of very useful features that make it excellent for beginners. You can send and receive bitcoins via email, as well as buy and sell bitcoins directly from Coinbase. 

A full-featured Android app enables access to all account functions on the go. Coinbase’s founders have a proven startup track record and have raised money from very prominent venture capitalists. 

They are also one of the only large Bitcoin companies to never suffer a major hack.