If you’re a crypto investor in South Africa and you want to find out which Bitcoin wallet to use, should you use one specifically for South Africans?
We South Africans typically think that we should do things differently than the rest of the world. Actually, we do already, we’ve got a government, laws, country, and cultures like none other. Yet, for Bitcoin wallets, it’s not actually the case.
You can use just about any wallet that allows you to store Bitcoin. Okay, I’m not saying just use any wallet out there, it has to be safe, secure, reputable, etc, but you get the point.
We tend to talk about wallets storing crypto, but it’s not actually the case. In fact, it only allows you to access your crypto on the blockchain with your private keys.
Investopedia.com gives a great definition below:
A Bitcoin wallet is a software program where Bitcoins are stored. To be technically accurate, Bitcoins are not stored anywhere; there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the person who owns the balance. Bitcoin wallets facilitate sending and receiving Bitcoins and gives ownership of the Bitcoin balance to the user.
Which wallets do I recommend?
Keep in mind that you get different types of wallets, desktop (for your computer), mobile (for your phone), hardware (offline storage) and a few others.
Most of these wallets will not just be for Bitcoin, it will allow storage of multiple cryptocurrencies like Litecoin, Ethereum, EOS and so forth.
Here are some I recommend you test out.
Exodus – https://www.exodus.io
MetaMask (browser-based and for ERC20 tokens) – https://metamask.io
Eidoo (was only mobile, now on desktop as well) – https://eidoo.io
Jaxx – https://jaxx.io
How to install your Bitcoin wallet?
How to install and set up each? That’s a whole different story, but each site should provide directions as which to use. I would recommend starting with Exodus as it’s desktop based and great for your laptop or computer. If you get more serious about storing your Bitcoin and keeping it safe, consider moving it to a hardware wallet like Trezor or Ledger.