What is a Blockchain Wallet?
Many people prefer to keep their bitcoin securely stored independent of any exchange like Coinbase. For that purpose, they create a free wallet at a site like Blockchain. Blockchain’s wallet is safe, secure and accessible from both your desktop and via smart phone app. I use blockchain wallet from my phone to send and receive bitcoin all the time. It’s my most convenient (and fast) way to receive commissions from affiliate programs that pay in bitcoin or to receive bitcoin sent to me from customers or any other person for any reason.
What is the Exodus.io Wallet?
Exodus.io is another extremely safe and secure wallet. Cryptocurrency experts believe it’s even more secure than an online based wallet such as Blockchain because it resides inside your desktop computer as an application with secret keys only you own and control.
The other benefit of the Exodus.io wallet, and the primary reason I installed it on my loptop is because it has a built-in “shape-shift” feature which allows you to quickly and easily “exchange” from one cryptocurrency like bitcoin into others like Ethereum or Litecoin without using a cryptocurrency exchange and incurring fees to buy and sell. It’s fast and built into the Exodus wallet.
There are a variety (and growing) of ways these days to buy bitcoin and there are a number of different platforms that are helping take bitcoin more and more “mainstream” including companies like Uphold.com and Bitpay.com. An extremely convenient feature of Bitpay.com is that they give you access to a Visa debit card where you can instantly load dollars directly from your bitcoin wallet and use just like you use any other debit card at ATMs and businesses to transact.
In essence, using the Bitpay.com debit card, you can instantly convert bitcoin from your bitcoin wallet into local currency (USD dollars) as you load your debit card. I like to remind people, however, that once you load the debit card, it holds fiat currency (dollars) and not bitcoin, so you can’t “load bitcoin” into the debit card and have your bitcoin value appreciating with the market, so if you want to “hold bitcoin” for appreciation, don’t load it into the Bitpay.com debit card until you’re ready to spend dollars.