Bitcoin casinos continue to make waves on the iGaming scene, thanks to Bitcoin casino bonus deals, Bitcoin casino no deposit offers, and Bitcoin games. But before you join these casinos, you first need to have a Bitcoin wallet. Other than a hardware Bitcoin wallet and a mobile Bitcoin wallet, there is also a software Bitcoin wallet. But how is this wallet different from the other types of Bitcoin wallets?
There are users who prefer this wallet because of its advantages. With its demand from the users, developers created a variety of wallets.
Top software Bitcoin wallets
- Electrum – this software Bitcoin wallet allows you to export your private key to other accounts. Apart from that, it also supports multi-sig wallets in which you can share an account with another user.
- Coinbase Wallet – just like Electrum, this is also a multi-sig wallet that allows you to create a shared account with others. Coinbase wallets also let you instantly convert your coins.
- BitGo– this wallet is known for creating new keys after every transaction. It also offers a recovery password and PIN.
- Blockchain.info – as a software Bitcoin wallet, instead of storing your keys in a mobile app or device, your keys stay in the browser. This wallet is also easy to use and to understand.
- Xapo – this wallet is a must-have for beginners because of its simple interface. The wallet also gives you a confirmation to keep you updated.
What is a software Bitcoin wallet?
The difference of this wallet among the rest is that it is downloadable online and the wallet stays on a single computer. In order to access your account, you only have to use the same computer where you downloaded the software. An advantage of a software Bitcoin wallet is that you can create a password for your wallet and the computer itself.
Apart from that, the wallet can also download an entire blockchain for you to be able to keep track of your transactions. This is because unlike a mobile wallet or a hardware wallet, this wallet has more memory and can process a huge data. Also, all software wallets are an open source where you can contribute and add more layers of security to double your protection.
Moreover, you can access its web browser counterparts and use the wallet using any device. You can access the wallet so long as you use a browser.
Software wallets have its charm and perks, just like the other types of Bitcoin wallets. There can be a software Bitcoin wallet that supports multi-sig wallets or a wallet that is an open source. Be sure to research about these wallets thoroughly to be able to choose the best wallet for you.