What are the Bitcoin Internet Wallets ？How to classify ？

Bitcoin Internet Wallet is one of the main tools for users to store and trade Bitcoins

Bitcoin Internet Wallet is one of the main tools for users to store and trade Bitcoins 。With the continuous development of the Bitcoin market ，More and more wallet service providers emerge ，Provides rich choices for users 。This article will introduce common Bitcoin network wallets and their classification methods. 。

one 、Common Bitcoin Internet Wallets

Cold wallet ：Cold wallet is an offline storage Bitcoin network wallet ，Private keys are usually stored in the user's offline device ，Such as hardware wallet or paper wallet 。Because it does not depend on network connection ，Cold wallets have high security and privacy ，But the operation is relatively complicated 。

Online wallet ：Online wallet refers to a Bitcoin network wallet that is accessed and used through the Internet. 。Compared to cold wallets ，Online wallets offer greater convenience and ease of use ，But the security is relatively low 。Common online wallets include Coinbase、Blockchainwait 。

Hardware wallet ：Hardware wallet is a Bitcoin network wallet that solidifies the private key in a hardware device 。Hardware wallets are highly secure and reliable ，But additional hardware costs and maintenance costs are required 。Common hardware wallets include Trezorand Ledgerwait 。

Sign more wallets ：Multi-signature wallet is a Bitcoin network wallet that supports multi-signature technology 。When using a multi-signment wallet ，Multiple signers need to confirm together to make an asset transfer or transaction 。This technology can improve the security of assets ，But it also increases the complexity of the operation 。

Distribution wallet ：Distributed wallet is a Bitcoin network wallet based on distributed account technology 。In this mode ，Each user has his or her own private account and public address ，Point-to-point transfers and transactions can be realized 。Distribution wallets have the characteristics of decentralization ，But it also brings management and maintenance challenges 。

two 、The role of Bitcoin network wallet

Store Bitcoin ：The main function of Bitcoin network wallet is to safely store Bitcoin 。These wallets can generate one or more Bitcoin addresses ，Users can send Bitcoin to these addresses for storage 。Each wallet has a unique private key ，Used to verify the user's ownership of the corresponding Bitcoin address ，To ensure the security of the assets 。

Manage Bitcoin ：In addition to storing Bitcoin ，Bitcoin Network Wallet also allows users to manage their Bitcoin assets 。Users can view the Bitcoin balance in their wallet 、Transaction history 、Receive and send Bitcoin, etc. 。

Trading function ：Bitcoin network wallets usually also integrate transaction functions ，Allow users to trade with Bitcoin users around the world 。Users can use their bitcoin address to receive bitcoin payments from others ，You can also pay bitcoin to others 。This transaction process is usually done by scanning the QR code or copying and pasting the address ，Very convenient 。

Privacy protection ：Bitcoin Internet wallet also pays attention to user privacy protection 。For example ，Users can create new Bitcoin addresses to receive payments ，This can protect its transaction privacy to a certain extent 。at the same time ，Some advanced Bitcoin wallets also support hybrid transactions （CoinJoin）Privacy enhancement technology ，To further improve the level of privacy protection for users 。

Access to the Bitcoin ecosystem ：Bitcoin network wallet is also an important entrance to the Bitcoin ecosystem 。Through the wallet ，Users can participate in decentralized applications （DApps）、Participate in mining 、Participate in various activities in the Bitcoin ecosystem such as the Lightning Network 。

three、How to classify

Classified by storage method ：Can be divided into cold wallets and hot wallets （Online wallet ）。in ，Cold wallet emphasizes offline storage and privacy protection ；Hot wallets focus more on convenience and ease of use 。

Classification by function ：It can be divided into basic wallets and professional wallets 。Basic wallets provide basic transaction and management functions ，Suitable for beginners and small investors ；Professional wallets have more advanced features and services ，Suitable for professionals and large organizations 。

Classification according to encryption algorithm ：Wallets that can be divided into elliptic curve encryption algorithm and asymmetric encryption algorithm 。in ，Elliptic curve encryption algorithm has high speed and security ，It is widely used in cold wallets and some online wallets ；Asymmetric encryption algorithms have higher security in some cases ，But the calculation is large 。

Classification by service provider ：Open source projects developed by individual developers or small teams and commercial products provided by commercial companies 。The former often has better flexibility and customization capabilities ，But there may be a lack of stability and security guarantees ；The latter has professional technical support and customer service ，But the price is high and there may be certain charging traps 。

Four 、Summarize

Anyway ，There are many types of Bitcoin online wallets ，Each has its own characteristics and advantages 。Users should choose the type of wallet that suits them according to their needs and preferences. 。During the selection process ，Security 、Reliability and ease of use are the most important considerations 。at the same time ，Users should be vigilant ，Avoid using untrusted wallet service providers or wallet types that have security risks 。