Bitcoin is one of the most valuable crypto coins. It was made public back in 2009, and as of today, it is valued at around $50,000. Bitcoin has high liquidity, meaning that it is easier to trade it than other crypto coins.

When Bitcoin was launched to the public, most people thought it was a Ponzi scheme. The idea behind a digital currency that would challenge fiat currencies seemed too far-fetched. However, a decade later, we have more crypto coins in the market.

In this guide, we will discuss more investing in crypto coins. The guide will also cover the steps involved in purchasing crypto coins. We will also share more about crypto wallets and how you can go about picking the best wallet for Bitcoin.

The Best Bitcoin Wallet for Mac

A Little Bit About Bitcoin and Cryptocurrencies

Bitcoin is a cryptocurrency. There are plenty of other cryptocurrencies in the market today. In crypto lingo, you will come across the term “altcoins,” which is short for alternative coins. Most crypto enthusiasts refer to other crypto coins, not Bitcoin, as altcoins.

Some of the common altcoins in the market include Ethereum, Solana, Litecoin, and XRP. There is also another special cryptocurrency known as stablecoins. Stablecoins are a cryptocurrency whose value is tied to fiat currencies such as the Euro or the USD. Some of the common stablecoins in the market are USDT, BUSD, and UST.

Unlike crypto coins, stablecoins are not volatile, and the prices don’t fluctuate often. They are a good choice for people who would like to use the blockchain without incurring losses from price dips.

Purchasing Bitcoin

The process of purchasing Bitcoin or any other altcoin is the same. Nowadays, there are plenty of crypto exchange platforms to buy crypto coins. In addition, if you’re more experienced, you can purchase or trade crypto coins using peer-to-peer platforms.

You need to sign up for an account on your preferred crypto exchange platform. The sign-up process is straightforward and will probably take you less than two minutes. After successful registration, you might be requested to verify your account details. You can do so by uploading a copy of your ID or driver’s license.

Once your account has been verified, you are ready to add your preferred mode of payment. Most crypto exchange platforms allow users to buy crypto from their bank accounts either directly or through their credit or debit cards. So, make sure you check the preferred mode of payment supported before signing up.

Other than buying crypto, exchange accounts also allow users to swap coins. For instance, you can purchase Bitcoin and swap it for Ethereum or vice-versa. You can also sell your crypto coins for fiat currencies.

1. YouHodler

The Best Bitcoin Wallet for Mac

YouHodler is a crypto exchange platform that offers additional services such as pro-savings accounts and crypto-backed loans. Ideally, YouHodler helps crypto investors leverage their assets without selling them.

If you have crypto savings account on YouHodler, you can apply for a crypto-backed loan. The loan can either be in crypto or fiat currency. Your crypto savings will typically be used as loan security. Having more coins in your savings makes you eligible for bigger loans in the future.

2. Electrum

The Best Bitcoin Wallet for Mac

Electrum is an ancient Bitcoin wallet that’s been a Mac OS favorite for a long time. It has many features and supports open-source development thanks to the MIT License. Anyone can run an Electrum server and export their primary key for use with other Bitcoin clients.

Electrum supports all the features one would expect from a modern Bitcoin client, like multi-sig, cold storage, hardware wallets, and more. In order to use Electrum with a hardware wallet, such as Trezor, you will first need to create a new wallet or import an existing one and select the hardware wallet option from the wizard window.

3. Exodus

The Best Bitcoin Wallet for Mac

The Exodus team set out with a lofty goal: to create a Bitcoin wallet that “just works like magic.” This approach to software development is something all Mac OS X users are personally familiar with because it’s the same process they’ve come to know and love about them. Indeed, Exodus feels great on Mac OS X, it’s a beautiful and modern interface to keep the geek factor at a minimum.

Exodus is a cryptocurrency wallet that includes the ability to instantly convert your assets to avoid requiring you to make a new account or share any personal info.

4. Coinbase

The Best Bitcoin Wallet for Mac

Coinbase is one of the largest Bitcoin exchanges in the world, operating since 2012 and serving millions of customers each month. Coinbase is a well-established company that offers its customers the ability to store Bitcoins as well as trade and sell them. It’s also popular for providing easy access to rare and valuable cryptocurrencies.

5. Jaxx

The Best Bitcoin Wallet for Mac

Jaxx is available on all the latest versions of popular operating systems, including Mac OS X, and is soon to be released as a hardware wallet. For this reason, it’s a very friendly and safe option for newcomers to crypto. It also offers more choices in terms of what currencies you can store in your wallet.

Types of Crypto Wallets

Upon registering for an account on a crypto exchange platform, you also get a crypto wallet. A crypto wallet is a digital wallet where you can store your crypto coins. There are two types of crypto wallets: hot wallets and cold wallets.

Hackers constantly attack crypto exchange platforms. Premium crypto wallets offer crypto investors extra security. Storing your coins in a private wallet gives you complete control over your crypto assets.

Hot wallets are premium digital wallets. In addition to offering extra security, hot wallets are straightforward to manage. You can access your hot wallet from any device that has an internet connection. Cold wallets resemble flash drives. They are more secure but are limited in their versatility.

You will need a laptop with an internet connection to transact coins from your cold wallet. Cold wallets are also more expensive, but the extra price you pay for them is worth it. Most crypto investors, especially those with large sums, use hot and cold wallets.

Bottom Line

Cryptocurrencies have plenty of benefits, which has made them successful over the past couple of years. Investing in crypto has its fair share of risks. However, if you’re just interested in using blockchain technology, you should invest in stablecoins.

Also, ensure that you get a premium wallet service. Having a private wallet ensures that your assets are more secure and you have complete control over them. Ensure that you do plenty of research when looking for a crypto wallet.

Author

Ruby has been a writer and author for a while, and her content appears all across the tech world, from within ReadWrite, BusinessMagazine, ThriveGlobal, etc.

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