The Need For Bitcoin Account And Their Types

bitcoin account

The most talked currency these days are not any of the world currencies that we see everyday. The most talked and exciting currency is called bitcoin. This is a virtual currency, completely free from all the countries. Bitcoin is currently world’s most expensive currency. One BTC costs more than 10 thousand dollars. The rise of Bitcoin has led to the search for a safe way to store them, and this has opened up a large industry which is focused on bitcoin account and wallets.

bitcoin account

The need for a bitcoin account

The bitcoin accounts are used to keep one’s cryptocurrency safe and under their hands. There are different ways to store cryptocurrencies. This ranges from paper and ends at hardware level. Here there is a short description of the different ways to store bitcoin.

  • Paper method

Printing the address where the currency is stored on a piece of paper. This is recommended if one can keep the paper safe in all means. This is also recommended for small bitcoin amounts only.

  • Software method

The use of software and web applications is used here. This method makes use of bitcoin account. These software methods are available as applications and web plug-in.

  • Hardware methods

This method is recommended for those who have earned a bit from the cryptocurrency market. This hardware requires a lot of initial capitals but is able to keep a large amount of the user wealth safe with them. This is also impenetrable to computer hackers.