To store Bitcoin, you need a Bitcoin wallet. A wallet works similar to an online bank account, but for your Bitcoin and not for Euros.
Your Bitcoin wallet address is like your bank account number or IBAN, while your wallet's private key is like your online banking PIN. Anyone can use your public wallet address to send you bitcoin, just like anyone can send you money to your bank account number.
Your private keys, on the other hand, are only known to you when you use them to access your coins. They are therefore comparable to your online banking PIN.
However, to be precise, you don't store your Bitcoins in your wallet. Instead, the Bitcoins are stored in the Bitcoin blockchain and your Bitcoin wallet contains the cryptographic keys that you can use to access your Bitcoins to spend them.
There are different types of Bitcoin wallets you can use, from web and mobile wallets to paper and hardware wallets. Each wallet has its advantages and disadvantages, but there is a general consensus in the Bitcoin community as to which type of wallet is best for certain users.
Online wallets are more suitable for users who regularly spend Bitcoin online. Mobile wallets are better suited for Bitcoiners who spend Bitcoin on a daily basis in stores or coffee shops that accept Bitcoin as a payment method. Mobile wallets are also popular with small investors who have only a few hundred euros invested in the cryptocurrency.
However, for investors who invest several thousand euros in Bitcoin, offline wallets are the most suitable, as they offer the greatest security.
Probably the safest way to store your Bitcoin is the so-called cold storage. Cold storage means that you store your Bitcoins in an offline wallet that is not connected to the Internet.
Offline wallets (also called cold wallets) can be paper wallets, computers that are not connected to the Internet, USB sticks or flash disks, or special hardware wallet devices.
Hardware wallets are the most popular solution for "cold storage" among Bitcoin investors. They usually consist of a USB flash drive or card-like device that securely stores the wallet's private keys offline to prevent hackers from remotely accessing the holder's funds.
One of the best hardware wallets on the market is the Coinfinity Card Wallet, which allows anyone to store Bitcoin in a very secure and user-friendly way.
The Card Wallet is a highly secure storage facility for Bitcoin, developed by Coinfinity and the Austrian State Printing Office.
Advanced security materials and tamper-proof features prevent Card Wallet from being tampered with, making it one of the best hardware wallets on the market.
You can buy a Card Wallet buy here and you will receive it in the mail in a few days. However, before you use it, you should authenticate the card. To do this, you can use the Chainlock app for iOS and Android from the Austrian State Printing Office.
Once you have verified the authenticity of the card, you should digitally save the wallet address or the wallet QR code so that you can quickly access it to make Bitcoin deposits.
After that, it is important to keep your Card Wallet in a safe place, such as a vault or safe deposit box. It is important that only you have access to your card wallet, because whoever has access to the private key on the back under the security seal can access the Bitcoin in the wallet.
To send bitcoin to the card wallet, you can get bitcoin on a crypto exchange or from a bitcoin broker like Coinfinity buy.
Probably the most convenient way, to buy Bitcoin onlineis with the Coinfinity Bitcoin portal.
Coinfinity is Austria's oldest Bitcoin broker that has been enabling investors to buy and sell Bitcoin securely since 2014.
To buy bitcoin with Coinfinity, follow the steps below:
And that's it - that's how you simply buy Bitcoin and store them safely on your cold storage wallet.
Combined with the Coinfinity Card Wallet (or any other hardware wallet), you can easily buy Bitcoin and store it safely for the long term.
Sign up for a Coinfinity account and start investing in Bitcoin today.
To keep your cryptocurrencies safe, you need a wallet. The type of wallet you choose to store your coins depends on your individual needs as an investor.
If you only invest a small amount in Bitcoin, a mobile wallet without custody can be sufficient. However, if you want to invest several thousand euros, a hardware wallet is probably the best choice.
Each wallet has its advantages and disadvantages and is suitable for certain users.
Hardware wallets are usually recommended to investors who want to store larger amounts of Bitcoin, as they are considered more secure than mobile or web wallets. While there is no one "best" Bitcoin wallet, we recommend the Card Wallet to store your Bitcoin safely for the long term.
Software wallets, which include web wallets, mobile wallets and desktop wallets, are all free. Hardware wallets usually cost between 40 and 150 euros.
