Which? What? Why?

One of the most popular questions connected with crypto is “Which Bitcoin wallet should I choose?”

The main distinctive feature of a reliable and secure wallet is a access to private keys. If private keys are generated within the wallet of the client and aren’t kept in servers they are called client side wallets.

Today we have prepared a detailed explanation of this kind of crypto wallet.

Client Side Web Wallets

Client side web wallets are considered to be the most secure and private. Encrypted backups of the wallet are stored securely on servers, but no one has a way of decrypting them except the user on their own side. The process of encryption and decryption is done within your web wallet using your password as a key. It means the wallet is encrypted by a password only when the user is connected to the server.

Advantages:

Easy to use, no software installation required

You can access your funds from any computer but mind your safety!

There is no need to worry about accidentally deleting your wallet or losing it to computer failure

You can transfer your funds to any wallet with the help of a mnemonic in case if you stop to trust your provider

Disadvantages:

You still need to trust your provider. But if you learn about the provider more you can avoid these difficulties.

Client Side Crypto Wallets

It is an app that is absolutely focused on the client side. How does it work? The main idea is the same. The client side means private and secure. Why? The private keys aren’t kept on the servers of your crypto wallet. They are created entirely on your device and no one can get access to them or steel them. Even if there is some kind of a hack attack on the server of your wallet your funds are safe. You can just import your mnemonic into another wallet and live happily!

Advantages:

Absolutely secure. Just take care of your mnemonic and use a password for your device

Your private keys are absolutely yours. No third party can have access to them

Your funds are always on hand

You can choose any another wallet and transfer your funds with your mnemonic

Disadvantages:

Need to trust the operational system of your device

Another point connected with this kind of wallet is the private key. What they need for? A private key is a sophisticated form of cryptography that allows a user to access their cryptocurrency. Sound difficult? Simply think of it like your “signature” that you would give under each transaction. With the help of this “signature” your transaction will be identified as yours and no one will be able to usurp it. That’s why you need to keep it absolutely safe and the best way is a client side wallet without any third party.

Which wallet should I choose?

Now you know what a client side wallet is and why it is so secure and private. Until you try to learn if your wallet is client side we suggest that you to install Lumi wallet. Why you ask?

As you have understood, Lumi wallet is client side and besides, you will be surprised when you see how multifunctional it is. Lumi has thought about you and has provided you with every convenience.

Firstly, Lumi is a crypto wallet that supports Bitcoin, Ethereum, and tokens. It also includes a web interface if that is your prefered method. These features allow you to have your funds on hand and also the ability to access your funds from any computer.

Secondly, Lumi is an HD wallet so you only need to be backed up once, and can be fully restored at any time in the future from just the backup of that single master seed. Seeds are typically serialized into human-readable words in a 12-word Mnemonic phrase. Sounds pretty easy, doesn’t it?

Here is your way to absolute anonymity and security!

You can always reach out to the Lumi team at hello@lumiwallet.com and get more information about Lumi. Follow us on our Blog, Medium, and Reddit for educational and useful articles!