Android operating system is prevalent, and most devices are built on this system. Earlier Android devices were restricted to performing a few tasks, but with time developers and engineers have embraced the performances of these compact devices.
Cryptocurrencies are currently the hottest adaptation of technologies, and a combination of digital coins and android devices is very lethal. Making investments and transferring digital coins is made very easy by android devices.
In context to tasks related to bitcoin, people only prefer android devices. Suppose you are interested in bitcoin trading. Visit the crypto genius to acquire an utter guide to crypto trading. Undeniably other operating systems like iOS and Windows supports bitcoin wallet and trading application, but the variety one can get on android device is impeccable.
Early movers have still stored their bitcoins in personal computers, and according to these people, computers are much more convenient for this task. So let’s find out whether a trader and investor can keep bitcoins in android.
Possibilities of keeping Bitcoin on an android device!
An essential aspect of keeping bitcoins on any device is a digital wallet with private keys. But the only question here is whether one can store bitcoin in an android phone or not. It is a piece of cake for people to store bitcoins on an android device.
The availability of cryptocurrency applications on the play store is very high. Usually, mobile-based wallets come under the hot wallet section as they all support the internet. Whether an android wallet or a desktop-based wallet, every software comprises a private key. The primary notion of private keys is authoring exchange.
Advanced cryptocurrency wallets supportive on an android device come up with innovative features like NFC. For example, the NFC feature allows a cryptocurrency wallet to acknowledge the nearby digital coins wallets present nearby.
Some people consider desktop-based wallets are more efficient in terms of security, but android based wallets are impeccable when it comes to immunity towards viruses and other malicious activities.
Do android based wallets offer cold storage?
Android-based wallets are popular to offer hot storage. But the presence of hot storage in any wallet depicts a susceptibility of vulnerable acts like stealing and hacking of cryptocurrencies. The majority of the dedicated android based wallets are devoid of cold storage, but few android based wallets have shocked people by ensuring both hot and cold storage at the very same time.
Such wallets are popular as dual wallets, and some examples of such wallets include Mycelium and electrum. In addition, cold storage offers robust protection against viruses and other malicious activities.
But with cold storage, the accessibility of a wallet also decreases. Usually, dedicated cold storage wallets are expensive, but dual-nature wallets are free. In short, you can download both Mycelium and electrum on your android device without paying an extra charge.
Do the Google Play store list only authentic bitcoin wallets?
Usually, google playlist only authentic bitcoin wallets on their platform, but sometimes unauthentic and shallow platforms make it in the list of bitcoin wallets on the play store. As discussed above, the diversity of cryptocurrency wallets on the play store is massive. Usually, most wallets present in the play store are free of cost, but there are expensive bitcoin wallets.
Without proper research, you should not download any of the bitcoin wallets on your android device as unauthentic platforms compromise the data of your android device with third parties. Relying upon the developers and characteristics of an android based wallet, the cost of such an application varies. The average buying special features and extra security on a bitcoin wallet are $50, but it can extend up to $200.
The android devices are so advanced that one can now connect a dedicated hardware wallet with Android devices. If you want to play safely while choosing a cryptocurrency wallet, you should always go for the popular ones. Reputed bitcoin wallets have been operating in this industry for a long time; their credibility and authenticity are impeccable. The typical cost of keeping bitcoins in an android device is zero, but each levies a bare transaction fee.
The above-listed portion depicts how you can store bitcoin on an android device.