Over the last few years, cryptocurrency has stood out as an increasingly accepted alternative for fiat money. It operates through a mode of money exchange that uses strong cryptography called blockchain. It is very useful for secured online transactions while staying decentralized. Bitcoin is by far the most popular cryptocurrency which is now used for both investments and daily purchases. There are several software and applications of bitcoins like Bitcoin Up, which are used as trading platforms where you can invest or trade quite easily.
Bitcoin App: Features You Should Always Look For
Bitcoin transactions are usually executed by using smartphone applications and software. So, while using such a mobile app for Bitcoins, you should always look for a few essential features to keep your BTC holdings safe and secure.
1. Wallet
There are generally two kinds of cryptocurrency wallets available. One is a hot wallet, which is directly connected to the internet while another one is called cold wallet, which is a hardware wallet and cannot be connected to the internet. You should look for whether the wallet is multi-asset supported or not, so that it should support multiple coins or tokens.
2. Security
For any application or software, security is a mandatory feature to look for. There should be a multi-layer security to protect the bitcoin wallet from potential hacking. If you have used any banking apps before, you are expected to be familiar with the standard security features which are almost similar in bitcoin apps too. The security features you should look for in BTC mobile applications are as follows:
● There should be two-factor or multi-factor authentication for getting access to the wallet.
● The clients should be logged out after a considerable inactive period.
● The private key should be stored in the client’s side so that the chance of losing it decreases.
● New addresses should be created for every transaction, thus denying repeated payments.
3. Usability
For any digital platform, data is an important feature to secure because the longevity of the platform depends on the data storage. While using a Bitcoin app, it is recommended to see whether backup is facilitated perfectly. You can backup your device like a mobile or computer which is much safer.
Apart from backup, you will want to know what happens to your crypto coins, isn’t that right? For that, you should always opt for notifications. Timely sent notifications make an app a perfect friend for the crypto user.
4. QR Code Scanner
A smart QR code scanner will make your transactions quick as well as smooth when buying, selling, and transferring Bitcoins cryptocurrencies.
5. Near Field Communication Or NFC Support
This feature works for short-range communication between compatible devices. The functioning requires one transmitting device and another signal-receiving device. The proximity of devices is a primary requirement for this feature. It also enhances quick transactions as it can be done just by clicking on ‘NFC tag’ and thereby getting the receiver's crypto wallet address.
6. 12-Word Mnemonic Phrase
It is not unnatural that your BTC wallet gets deleted or removed. And then when this feature comes into play. You should always look for mnemonic phrases because it is this feature which will enable you to restore memory.
Best Bitcoin Apps
There are numerous BTC apps available on the internet; more apps are getting launched too. Just be very careful while using these mobile applications, to avoid any unwanted discrepancy with your cryptocurrency holdings and transactions.
