Will you give Satoshi to your friend? Want to explain bitcoin to your family member? Wonderful!
They must first buy cryptocurrencies. Either you can gift them bitcoin, or you can direct them to the exchange and explain how to do it. We recommend using Binance. Both bank deposits and credit/debit card payments are accepted.
Once they have acquired enough BTC, they will need a wallet to securely store their assets. Keep in mind: “Not your coins, not your keys.” Don’t let them keep their bitcoins on the exchange, I advise you. They need to use a wallet to better control their bitcoins.
Now I don’t advise using bitcoin core. Show them lightweight bitcoin wallets that are easy for beginners and integrate various features instead.
No, we are not talking about dubious third-party custodial wallet providers like Coinbase or dubious online wallets. The new lightweight wallets have been specifically designed with speed, convenience and security above all else in mind.
They are known as light software clients, SPV clients or light wallets.
Below we have compiled a list of the best free litecoin wallets. It is immediately available for download and use by anyone. Get your SPV/Bitcoin Light wallet by visiting this area.
Before we look at Litecoin or SPV wallets, let’s first look at what Lite/SPV clients are and what advantages they provide over regular wallets.
Describe SPV wallets. portable bitcoin wallets.
An SPV wallet or SPV client is another name for a portable bitcoin wallet. Simplified Payment Verification, or SPV, is an incredibly fast payment verification method. You must first understand how the main wallet works in order to understand SPV wallets.
Simply put, the Bitcoin blockchain is a list of blocks. Essentially, each blockchain block contains
1) Block header (which includes a link to the hash of the previous block),
2) Transactions (List of all transactions included in the block).
The client must verify all previous incoming and outgoing transactions from a specific sender address in order to verify a single transaction. To do this, the wallet must download the entire block chain to your local computer. This makes the main wallet.
Problem with main wallet.
Потребности в хранении и пропускной способности для основного биткойн-кошелька являются серьезной проблемой. Полный блокчейн загружается и сохраняется на вашем устройстве. Теперь для установки и работы основного кошелька требуется более 330 ГБ дискового пространства (https://www.blockchain.com/charts/blocks-size). Кроме того, по мере увеличения размера блокчейна Биткойн растут и потребности в пространстве для хранения.
Apart from the fact that the official bitcoin wallet requires a lot of disk space and internet connection, it is also slow. Depending on your internet connection, a new installation can take many hours or even days. You will not be able to start any transactions until it is fully synchronized with the blockchain.
It will take some time for the wallet to catch up with the blockchain, even if you have already set up and used the main wallet before accessing it.
To solve this problem, SPV wallets have been developed as they can be quite bulky at times.
Portable bitcoin wallets.
Why is a lightweight bitcoin wallet simple? In other words, you don’t need to download the full blockchain on your computer. Light wallets work by establishing a connection to a server hosting a fully synchronized node.
The client, which differs from the full node client, is often a lightweight or simplified Payment Verification Wallet (SPV). The main difference is that they do not download the entire blockchain, which saves storage space and bandwidth.
Instead, a light wallet or banknote simply downloads block headers to confirm the legitimacy of transactions.
Lightweight bitcoin wallets only use a trusted server to send and receive transactions because they don’t store the blockchain on your computer.
1) These wallets are faster, lighter and easier to use and maintain. They save a lot of storage space and sync time. 2) They provide the same level of protection as popular desktop wallets and QT clients. Only you have access to the private keys that are stored on your device. 3) Most light wallets are compatible and work great on all platforms, including desktops, mobile devices, and even flash drives. Since most wallets are BIP39 compliant, they are also easy to back up and replace.
1) Since light nodes only use full nodes managed by external parties, there are certain privacy issues with them. 2) Lightweight wallets use Simplified Payment Verification (SPV) to verify transactions, making them less secure than Bitcoin Core in terms of payment verification. See https://en.bitcoinwiki.org/wiki/Simplified_Payment_Verification for more information on SPV.
Therefore, these wallets should really rely on entire nodes being managed by a trusted entity. Is it safe to connect the wallet to certain Full Node servers?
Are SPV clients safe?
The light client has been around since its inception and is great to use with a wallet. A great example is the Electrum bitcoin wallet, which eliminates the need for the user to manage a full node.
These wallets are secure and do not compromise your security in any way. Your device’s local storage is where your personal bitcoin keys are stored.
Thin wallets are far superior to some online wallets and currency exchanges. In addition, it provides confirmation and ensures that your transactions are included in the block.
Lightweight bitcoin wallets are enough to send and receive.
The best bitcoin wallets.
Following are some of the most widely used bitcoin SPV clients or lightweight bitcoin wallets. Because they don’t download the blockchain to your computer, download times are reduced and less bandwidth and storage space is required.
1. Electrum Bitcoin Wallet.
One of the first, most famous and reputable bitcoin thin wallets is Electrum. For Windows, Mac, Linux and Android users, this wallet is available as free and open source software.
Electrum for Bitcoin is fast, secure and easy to use. Since it is a thin client, there is no need to download the blockchain to verify payments. The client can be installed, launched and used by users very quickly.
In addition, Electrum offers several sophisticated features including a hardware wallet option, manual fee setting, RBF, coin selection, 2fa, view only, and wallet encryption.
Since 2011, this simple yet powerful bitcoin wallet has been offering secure bitcoin transactions.
Functions: 1) Open source 2) Backup/Restore in HD Wallet (Hierarchical Deterministic Wallet) uses a mnemonic seed of 12 words. 3) Easy to set up and use 4) Easy to use multi-signature 5) Accepts payments through the Lightning network 6) Compatible with Android, Windows, Linux and OS X 7) Compatible with most hardware wallets (Trezor, Ledger)
Be aware that there are many phishing websites and fake Electrum products out there. Before using an e-wallet, be careful and be sure to study it. always download from the official site.
Wasabi — is an open-source, privacy-focused bitcoin wallet that can be used on Windows, Mac, and Linux desktops.
Using an insecure Coin-join connection over the private Tor network, this wallet provides privacy. This combines many inputs and outputs to improve the security of bitcoin transactions.
This wallet is for you if the privacy of your bitcoin transaction is more important to you.
1) Use open source software
2) Coin Management Skills
3) Full SegWit support
4) Establish coin connection
5) TK integration
6) Thin client with full node connectivity
7) Compatible with hardware wallets
8) Supported platforms: Windows, Mac OS and Linux.
Another simple, thin and secure bitcoin wallet is Bither. This open source lightweight wallet is free to use on desktops and mobiles.
One aspect of this wallet is that it can basically operate in two modes: hot wallet mode and cold wallet mode. Private keys are stored offline on your cold storage device. In hot mode, you can create unsigned transactions online and also track transactions. Subsequently, you can sign it using your cold wallet.
You get security and ease of use with Bither Bitcoin Wallet.
1) Addresses for Legacy and SegWit
2) SPV client
3) open source
4) support for multiple signatures
5) Support for multiple platforms
For developers and bitcoin holders, Specter Solutions offers many open source tools. The Specter desktop wallet can work with a remote Specter server, but it must also be connected to the main Bitcoin node. As a result, this wallet can be used by both a full node client and a lite node client. Alternatively, you can run a local Specter server or use a remote Specter server.
Only bitcoin wallets with a single key and multiple signatures are tracked using Specter Desktop. All hardware wallets can connect to this wallet. The user interface is also easy to use. This is not recommended for beginners as the setup can be quite complicated.
The best wallet for multisig experiments is Specter.
1) Use open source software
2) Options for full nodes and light nodes (using your own node can improve privacy)
3) Complex multi-signature configurations
4) Connects to Bit Box, Ledger, Trezor, Keepkey, cold cards and even DIY hardware devices.
5) Compatible with Linux, OS X and Windows.
Следующие настольные кошельки поддерживают различные криптовалюты, в отличие от вышеупомянутых, которые представляют собой специализированные облегченные настольные кошельки для биткойнов. Это легкие кошельки, но они также поддерживают широкий спектр альткоинов в дополнение к биткойнам, что делает их более удобными и отличными для новичков.
1. Jaxx Wallet.
Jaxx is a multi-platform multi-currency light wallet that supports almost all known currencies, including Bitcoin, Ethereum, Litecoin, BNB, ADA, DOT, UNI, XRP, FIL and more.
This wallet is HD quality. You have all your private bitcoin keys on your device, and all private keys are backed up with a 12-word mnemonic phrase.
It’s amazing that it supports 7 different platforms and that the installation is quite easy. available on desktop, mobile, and as a browser plugin.
2. Exodus Wallet.
Another intriguing multi-currency lightweight wallet with support for over 100 coins is Exodus. Cryptocurrencies such as Bitcoin, ETH, BNB, ADA, Monero and many more can be managed and exchanged.
It is a secure and user-friendly cryptocurrency wallet available on desktop and mobile devices. You can link and use the wallet with your hardware wallets, as well as use it on your own. However, keep in mind that Exodus is not completely open source.
Exodus is great for managing, trading and storing small amounts of bitcoin and other cryptocurrencies.
Another famous multi-chain wallet available on desktop and mobile is Coinomi. With Coinomi, you can send, store, and receive over 1,000 cryptocurrencies, including Bitcoin, Ethereum, and other well-known altcoins.
It contains features such as native exchange, native SegWit implementation, Dapp browser, DeFi compatibility, UTXO management, wallet connection, etc.
Keep in mind that this wallet is closed source software, even though it has many features. Therefore, use it sparingly and only for temporary storage of small quantities.
Instead of using multi-currency wallets, stay with lightweight desktop apps and mobile bitcoin wallets if your goal is to store and spend bitcoins safely.
Most mobile bitcoin wallets are lightweight because they have less storage space. There is no mobile version of a fully functional bitcoin client. Almost most of them are thin, simple and convenient wallets. But not all wallets provide the highest level of protection.
You can use the Electrum wallet if you have an Android phone. Use Bither, which is also available for Android if you have an iOS smartphone. Here are a few more mobile wallets you might want to consider for storing and using your bitcoins, in addition to these two.
Be mindful of hardware wallets.
All the wallets mentioned above are compact bitcoin wallets. These are all non-custodial wallets that give you full control over your bitcoins. Your money cannot be frozen by a third party and you are solely responsible for backing up and protecting your wallet.
For people who regularly transfer Bitcoin payments from their computer or mobile device, these wallets are a fantastic choice. But besides transactions, consider a hardware wallet if you want to store your bitcoins for a long time.
Please note that every bitcoin wallet in the above list is categorized as a hot wallet. This indicates that these wallets often have Internet access. Hot wallets are considered less secure as they are vulnerable to attacks.
Easy-to-use lightweight bitcoin wallets are available. You don’t need to run a full node just to send and receive bitcoins.
However, you also need to know that the core of the Bitcoin network is a complete node. The Bitcoin network would not exist without full nodes.
Consider building a bitcoin core if you love bitcoin and want to help the network.
A Bitcoin wallet with a full node is Bitcoin Core. One of the most private bitcoin wallets, more secure and in complete control. The downside is that it downloads the complete block chain to your computer, as we have said. As a result, setup and operation require some patience and time.
In any case, you might consider pruning the blockchain if you are low on hard drive or SSD space and if disk space is your main concern. The security and privacy of your main wallet will not be compromised and the file size will never exceed 5 GB. Also, sync times are not as slow as older popular wallets, especially if you have an SSD.
Use the standalone lightweight bitcoin wallet recommended in this post if you want a compact wallet that doesn’t need to be installed. Use hardware wallets to securely store data for a long time.
Always do your own research before downloading and installing a bitcoin wallet.
This is a list of the lightest bitcoin wallets that are also easy to use, set up, back up and restore using the original state of the wallet.