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Home 2018-02-20T19:43:07+00:00
Bitcoins have been everywhere recently and it is no surprise that more and more people are considering getting involved with this crypto currency. If, for some reason, you haven’t heard of bitcoin, it is a digital currency that will let you make online payments, and unlike regular currencies when it comes to bitcoin, they are not something that can be seen or touched and they can never be printed. There is a lot of hesitation around the subject of bitcoin, but if you are interested in giving it a go then the first thing that you will need is a bitcoin wallet. There are a few different types of wallets, but the most used ones are the online, offline and the hardware wallets and depending on what you need, each of them serves their own purpose. In this article we will show you some of our favorite bitcoin wallets in Canada, so if you are interested keep on reading.

BITCOIN CONSIDER IF YOU ARE FROM CANADA

NEWS

LEDGER NANO

This is a smartcard based hardware wallet. The Nano is set up using the Ledger Chrome Application and there are private keys that are generated and singed offline in the smartcard’s secure environment. The wallet has a random 24-work seed that is generated upon its set up and then backed offline by writing it down on a piece of paper. The seed is important to have because in a case where the wallet is lost, stolen or damaged, you will be able to recreate the entire wallet without using it. As another layer of protection, a user selected PIN code is also assigned to the device and this help protect your wallet against any hacking or physical theft. The Ledger Nano can be used on any computer or even on an Android phone with Mycelium or Green Bits.

BREADWALLET

This bitcoin wallet started out as the most popular wallet for iPhone, however not it is also available for Android devices and any phone that has an Android 6.0 or higher can use this app. Some of the key elements that make this wallet as popular as it is are the simplicity of it and the fact that it is easy-to-use and has easy-to-use security. All of these things put together make this wallet a great starting point for any users that are new to the world of bitcoin.

ARMORY

This desktop wallet is the most mature, secure and full featured wallet for Bitcoin in Canada, and is one that we recommend if you have a bit more experience because it can be technologically intimidating for a lot of users. Regardless of whether you are an individual that is storing $1000 or an institution that is storing millions of dollars’ worth of bitocin on it, there is no doubt that this option is one of the safest out there. The users have complete control of all bitcoin private keys and they even have the ability to set up their own secure offline-signing process by using Armory as their wallet.

ELECTRUM

Sticking to the desktop wallets, Electrum is arguably the most popular one in Canada and that is mostly due to its speed and the ease with which it can be used. This wallet can also be used as cold storage, provided that you have an extra computer that can be used offline. The wallet offers a lot of features, some of them being the ability to connect through Tor, integration with hardware wallets, multisignature wallets and many, many more functions.

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