Best Bitcoin wallet for Australia

To send and receive Bitcoins, you need a Bitcoin wallet. A wallet gives you ownership over Bitcoin addresses that you can use to receive coins from other users, and send to others. A wallet address will look something like this: “1Zvi22Q8Y3Cn6nPATEBSaFFbckD9sUq6C”.

There are three types of wallets:

1) Web Wallets

Web wallets allow you to use Bitcoins and generally require less effort from you to protect your wallet. Web Wallets may also be referred to as “Browser-based wallets” or “eWallets”. This method is generally the easiest way to obtain a Bitcoin wallet. However, you need to choose your web wallet service provider with care as they host and hold your Bitcoins.

eWallet Examples:

Easy to use, clean interface. Has fraud protection measures. Much like a traditional bank.

Reputable, also provide Hybrid eWallets so that your wallet is encrypted before it reaches their server.

2) Software Wallets

Software wallets are installed on your computer. They give you complete control over your wallet. You are responsible for backups and protecting your Bitcoin.

3) Mobile Wallets

Mobile wallets allow you to have Bitcoins stored on your mobile device. You can exchange coins easily and pay in physical stores by scanning a QR code or using “tap to pay”.

A Caution About Wallets
Wallets can store your entire holdings of Bitcoin. If your wallet is compromised or lost, there is generally no recourse. Bit Trade Australia does not endorse the use of one wallet over another. We do not offer or provide wallets. We recommend you choose a wallet and wallet provider that suits your needs.