A new type of currency is creating a buzz all over and people are becoming keen in investing on it. Bit coins are the new type of currency that signifies the historical barter system. It is not authorized under any kind of government and is beyond any kind of division according to countries or territories. This special type of currency is stored in a special kind of wallet meant especially for them-bit coin wallet. If one wants to posses bit coins, then having a bit coin wallet is mandatory. The wallets play a vital role because without them, sending or receiving funds won’t be possible. It not only helps to store the coins, but also ensures safety and security. Passwords or private keys are entered after making each and every transaction. This ensures safety.
Bit coins are also known as crypto currency as it is highly related to cryptography. The wallet is digitalized and works with the help of computers. It can be encrypted in a computer. The bitcoin games are reasonable and since it ensures anonymity there’s no reason of not purchasing it. Since bit coins are already being accepted in many stores in the European countries, vendors are maintaining these digital wallets because it is easy to use and safe. Cash and credit cards are being replaced by bit coins, but there certainly remains a certain amount of risk in obtaining them because illegal activities can easily take place, also developing and under developed countries will take ages to access them because it involves high technology. Common man won’t be able to access it. Not all sites will accept them in the developed countries.