Published on June 7th, 2021 | by Sunit Nandi0
BSV Wallets to Consider
Where you keep your BSV digital assets is important. There are many things to consider when choosing the BSV wallet that’s right for you. You may want to keep them in a software wallet or a hardware wallet, also known as cold storage. Both have their merits as well as their risks.
Software wallets are just as the name implies. They are programs or apps that are used to store your BSV and are accessible at all times via an internet connection from your computer or mobile device. These wallets provide you with a recovery phrase to regain access to your wallet in case you lose your password or the software. This type of storage is good for those who may want to buy, trade, or sell their assets regularly if not using a cryptocurrency exchange. The greatest risk is if the recovery phrase is lost or perhaps a hacker gets access to your device. It is highly recommended to keep your password and phrase stored someplace else.
Hardware or cold storage wallets are similar in most ways to software wallets except that they keep your digital assets on a separate device. This device is not active on the internet. It must be plugged in to your device to gain access. It is considered the most secure way to store your BSV. The downside is you don’t have that quick access as you do through an app or computer. Even if you lose or damage your hardware you can still retrieve your assets by loading a new device with your recovery phrase. Currently there aren’t any hardware wallets that support BSV directly however, there are some on the horizon.
Let’s look at a few options that currently support BSV:
Money Button is a good soft wallet for buying, storing, or making payments with BSV. The program is fully non-custodial, meaning the company does not see and cannot access the user’s money. It has an easy-to-use interface that lets users send and receive payment with the swipe of a button.
HandCash is another wallet that boasts ease of use. It’s a BSV only platform that let’s users send and receive digital assets quickly with just a paymail username. There are a lot of fun ways to earn by connecting your account to other apps.
Coinomi has been around for a while now dating back to 2014. Millions of users trust this wallet to handle their digital assets. It is a minimalistic app that doesn’t ask users for a lot of unnecessary information. It claims a strong wallet security system that has never been hacked or compromised.
These are just a few wallets to buy, store, send, and receive your BSV and other digital assets. Deciding which one is best for you will take some effort on your part to research them. Hopefully this article has provided enough information to get you started.