11.2 C
New York
Sunday, October 17, 2021

Buy now

Chivo is not the only virtual wallet. Meet other wallets that are used to manage bitcoins

In the cryptocurrency market there are many options to manage Bitcoin, some much safer than the Chivo platform.

In the main websites dedicated to spreading the use and philosophy of Bitcoin, different lists have been collected on the best wallets, both guarded and unguarded, to trade with Bitcoin.

For example, the Bit2me site, a virtual academy specializing in cryptocurrencies, lists a number of virtual wallets that, broadly speaking, are the most widely used and therefore the most trusted for users.

Different options appear in the list (which would work as an alternative to the failures of the Chivo application) such as the Electrum Wallet, which was designed to work on computers, although it has gained ground in mobile environments; TrustWallet, Bitcoin Wallet, Coinbase, or Coinomi.

In this sense, it is also worth mentioning Binance, a platform that, although it has not been specifically designed to make payments or transactions, has enough characteristics to be considered a wallet, especially for Bitcoin users who are known as traders, that is, people who buy Bitcoin and speculate on market prices, to buy when the price goes down, or sell when it goes up.

Likewise, a feature that most wallets share is to use the so-called Lightning technology, which makes it possible for payments with Bitcoin to be made and processed instantly. These are some of the most used wallets for your security.

Hackers steal $ 600 million in cryptocurrency, the world’s largest embezzlement


Although it is not strictly considered a virtual wallet, Binance has quite extensive features that help to be able to buy or sell cryptocurrencies, at the same time that it can connect with other applications to make payments or transactions instantly.


This wallet is probably one of the most used and reliable on the market, and although in its beginnings it was specifically designed to manage the Litecoin cryptocurrency, little by little it was adapted to be able to manage multiple different cryptocurrencies, including Bitcoin.

With more than five million downloads, Bitcoin Wallet is one of the most widely used cryptocurrency management applications on the market. It has been developed by Bitcoin Wallet Developers and, according to the official Bitcoin.org site, it has the decentralized spirit in which the cryptocurrency was created.


Coinbase is another of the most used wallets, at least in mobile environments, and according to Bit2me, the level of security it offers to users is similar to the level of physical wallets, that is, wallets that work through a device which is activated only when the user wishes to make a payment.


According to the official site of Bitcoin.org, this wallet is quite simple to use because its design has been focused to optimize the speed and simplicity in transactions, in addition, it has the advantage that, in case of losing access to the account, can be recovered using a security secret phrase.


The environment in which this platform is operated is very versatile. According to Bit2me, it can be installed on both mobile devices and computers. The main advantage it has over most is that it can manage almost all cryptocurrencies and it does not focus exclusively on Bitcoin.

“The Chivo wallet has only generated losses for us”, point out merchants

Guarded wallets

In the world of cryptocurrencies, there are two types of virtual wallets: guarded and unguarded.
The Bitcoin.com site, developer of one of the most used virtual wallets, describes the former as a wallet similar to the conventional banking system, where an intermediary manages users’ funds and allows them to make use of them after a transactional authorization. , while using said funds to invest and generate interest to users.

For its part, the unguarded, according to the same site, are those that are managed only and exclusively by the user, who is the only one with access to their funds by means of a private key.
However, the site recognizes these that are more delicate because, in case of losing that access, the user could not recover their funds in any way, due to the encryption of the security system.

The virtual wallet developed by the company Chivo SA de CV, is considered a guarded virtual wallet, a quality that, according to computer experts, subtracts points in terms of security, in addition to the poor performance at a technical level that it has had during the first weeks of being launched.
This has made various businesses and businesses choose to offer different alternatives so that users can continue to use their crypto assets, although not necessarily through that platform.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected


Latest Articles