A Bitcoin wallet is a software or hardware device that stores your private and public keys, enabling you to manage your BTC. Software Bitcoin wallets are connected directly to the internet, which is why they are called hot wallets. On the contrary, hardware Bitcoin wallets offer cold storage because private keys are stored offline.

Learn more about different types of Bitcoin wallets.

Your wallet’s private key is essentially the secret key phrase that you receive when setting up a new wallet. This seed phrase should be written on a piece of paper in case you forget it. It acts as a backup, and you should store it in a safe place.

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It’s difficult to pinpoint one wallet as the best Bitcoin wallet because different wallets have different features and are built for different types of users. 

Xverse is the best Bitcoin wallet for users looking to access Web3 built on Bitcoin because, in addition to Bitcoin, Xverse also supports Stacks assets. Stacks is a Bitcoin layer-2 chain that provides a fast-growing ecosystem composed of DeFi, GameFi, and NFT applications and platforms, all secured by Bitcoin. You can also use Xverse’s stacking pool to passively earn Bitcoin rewards.

Additionally, Xverse enables you to manage Stacks-powered Bitcoin NFTs and Bitcoin Ordinals, making it a highly popular wallet among Bitcoin NFT collectors.

Getting a Bitcoin wallet like Xverse is easy and free. All you have to do is visit the App Store or Google Play Store to download Xverse. Additionally, you can add Xverse as a browser extension with Google Chrome. 

Once you have the Xverse mobile wallet or browser extension, create a new wallet or restore an existing Bitcoin or Stacks wallet to start managing your BTC. The process is so easy that anyone can do it.

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A Bitcoin wallet address is used to send and receive BTC. Derived from your Bitcoin wallet’s public keys, your wallet address is an alphanumeric string of characters that enables you to receive BTC. In many ways, your wallet address is akin to your bank account number, which you hand to your employer to receive your salary payments. 

When sending BTC from an exchange account to your Bitcoin wallet, you simply copy the Bitcoin wallet receive address in your Xverse wallet and paste it into your exchange account. Once you confirm the transfer, the BTC will be transferred from the exchange to your Xverse Bitcoin wallet. 

If you send BTC to someone else, and they click the transaction ID, they will see your Bitcoin wallet address on a Bitcoin explorer. Bitcoin wallet addresses are recorded publicly, and anyone can view them.

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Xverse does not track any personal identifiable information, including your account addresses or asset balances. We don’t collect information about your device or IP address unless you permit it. 

Please keep in mind that interacting with Web3 applications, such as using .btc domain names, can reduce the level of anonymity the wallet offers. It is up to you to utilize privacy best practices when using Xverse to ensure you receive the degree of anonymity you would like.

Xverse is free to download and doesn’t charge wallet fees for sending and receiving BTC. The only fees you’ll pay are network or “gas” fees, which go toward incentivizing Bitcoin miners to process your transaction and add it to the blockchain. The Xverse delegated pool for stacking STX doesn’t charge any fees either.

Crypto exchanges hold private keys on behalf of their users, making their exchange wallets custodial. That means you can store your BTC there, but you don’t have actual control or ownership of your coin. Should the exchange halt withdrawals for any reason, you can’t access your funds. Moreover, should the exchange get hacked and go bankrupt, you can lose all the coins you held on the platform. 

Xverse is a non-custodial Bitcoin wallet. It allows you to hold your own private keys, giving you 100% control over your Bitcoin and other digital assets.

Transferring BTC from Xverse to another wallet is very simple. Here are the steps you should follow:

• In the home tab, select Bitcoin on the token list. 
• Next, select the “Send” button and enter the amount you want to send in BTC or USD. 
• Next, paste the recipient’s address and confirm the transaction

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