MultiHODL is structured as multiple collateralized loans and is provided by YouHodler SA.
File sharing enthusiasts were extremely excited in 2019 when Justin Sun’s Tron Foundation bought BitTorrent in an attempt to bring it into the crypto economy. The result was making a token for BitTorrent called BTT. BTT aims to do what BitTorrent failed to do for so many years; monetize peer-to-peer file sharing. On the side, it’s also offering investment opportunities for people who want to buy BTT and hold onto it for future growth potential. Regardless of what side of the BTT fence you sit on, you’ll need a BitTorrent wallet for storage among other things. Hopefully, this wallet choosing guide will help you out.
Key talking points:
A BitTorrent wallet is a wallet that keeps private keys. Private keys are the passwords that give one access to the blockchain and in turn, cryptocurrency. Good wallets are both safe and secure, allowing one to send and receive cryptocurrencies like BitTorrent, Bitcoin, and more. BitTorrents come in various forms such as software wallets, hardware wallets like Ledger, or web/mobile wallets like YouHodler which makes using crypto easier than ever.
A BitTorrent wallet works because it's software that lets users send and receive BTT. BTT wallets are often multi-coin wallets that allow one to store multiple coins and tokens at the same time. For example, there is not a wallet that only stores BTT and nothing else. YouHodler wallets store over thirty different cryptocurrencies and tokens, BTT being just one option. Wallets store private keys. To the fresh eye, a private key may just look like a long string of meaningless numbers and letters. However, they are unique codes known only to the wallet. The private key must match with the public key to interact with the blockchain so you can send and receive cryptocurrency. Many wallets manage these keys for you so you only have to worry about the deposit and withdrawal addresses. YouHodler made the user experience on our wallet extremely easy for beginners yet highly functional for experts as well.
When researching your BitTorrent wallet, make sure it comes with the following features:
Absolutely! You can’t do anything with BTT without a BitTorrent wallet. Thankfully, YouHodler makes it easy to get one. Just sign up on our website or download our mobile app. Then, pass the easy KYC process and you have access to BTT wallets, and 30 other crypto wallets do whatever you want.
Not all BTT wallets are secure. You should take extra precautions when choosing a wallet. Look for features like 2FA, or 3FA. Research the team behind the wallet to see if they are real and come from reputable backgrounds. Look for additional features like insurance as well. YouHodler has all these features and then some to ensure clients' funds are as safe as possible no matter where they are.
There may be some people charging fees to use their wallets but at YouHodler, we don’t believe in that. We want to make crypto for everyone which is why it’s 100% free to use our crypto wallets. There is no subscription fee at all. However, keep in mind every blockchain comes with a blockchain fee to complete transactions. Those are not fees from our side, but the blockchain provider. Other than that, we think BitTorrents wallets should be available for anyone, regardless of economic status.
To deposit BTT to YouHodler, follow these steps:
To withdraw BTT from YouHodler, follow the same steps but click “withdraw” instead of a deposit. Take note that blockchains can get congested so please exercise patience if your transaction is taking longer than normal.
BitTorrent wallets come in all sorts of lovely shapes and sizes. So finding the best one for you should be a relatively easy task. Here are a few different types you can explore.
As its name suggests, a desktop BTT wallet is one that’s installed on a desktop computer or a laptop. Users get complete control over the wallet just as they would with a mobile wallet, just in a desktop environment. The main difference is that some desktop wallets have more advanced functionality like the ability to operate a complete node or full crypto exchange integration.
More or less, a mobile BTT wallet performs the same functions as a desktop wallet but on a mobile device such as a smartphone. Mobile BTT wallets are often more convenient due to their portable nature and the ability to scan QR codes for quick crypto transactions in stores or between peers. There are BTT wallets for all types of operating systems like Android or iOS.
Web BTT wallets are wallets that exist on a website or online service that allow users to send and receive cryptocurrency in addition to storing it. These wallets can be accessed anytime, and anywhere as long as there is the internet. Some of the most popular crypto services in the world are web wallets such as Coinbase, Kraken, Binance, and YouHodler. Security is a concern for web wallets but that can be managed with due diligence to make sure the web wallet you choose has a good history of high-level security and insurance. It’s also wise to use web wallets in tandem with the more secure hardware wallets.
There are countless articles out there dissecting different crypto wallets, trying to decide what is the “best BitTorrent wallet.” To be honest, there is no “best BTT wallet” for us as a collective whole. However, there is a BitTorrent wallet that is best for you and that depends on your wants and needs. At YouHodler, we tried our best to create a diverse, multi-faceted wallet that appeals to all sectors of the crypto industry. Is our wallet the best BitTorrent wallet? Well, that’s for you to decide.
When asking what the best BitTorrent wallet for beginners is, it’s important to first dissect what a beginner demands from a BitTorrent wallet. Most importantly, is a user-friendly interface. Beginners who are new to crypto are taking in tons of information every day and they don’t need a complicated app on top of that to learn. Clean, simple interfaces are best for beginners with minimal navigation required. That’s why we designed YouHodler’s interface to appease beginner users with simple designs, clear buttons, and plenty of information databases to dig into.
Advanced BitTorrent users and investors also appreciate clean simple interfaces on their BitTorrent wallet; however, they also want something flexible enough that meets their high demands. Advanced crypto traders want a wallet with low transaction fees, built-in crypto exchange capabilities, advanced security, staking features, and advanced financial services like loans and crypto trading. Advanced users are busy people and they can’t be bothered using multiple apps for different activities. That’s why we designed YouHodler to be the true one-stop-shop solution for advanced users with a wide array of FinTech services to fit their every need.
We live in a mobile world that’s only getting more decentralized. Our phones are our gateways to the universe (and soon the multiverse). That’s why when choosing a BitTorrent wallet, mobile flexibility should come into play. YouHodler’s mobile wallet for Android and iOS comes with all the great features found on the web version. Hence, you can trade, multiply crypto, lend, earn, and more all on the go. Most importantly, we have 2FA, 3FA for mobile wallets to ensure your security is always top-tier. Activate your crypto anywhere in the world with the YouHodler mobile app.
As mentioned earlier, it’s a smart idea to buy a BitTorrent hardware wallet to use in cooperation with your mobile or web wallets. BitTorrent hardware wallets are ideal for the long-term storage of crypto assets. Ideally, you want to keep some on a mobile or web wallet for payments, trading, and staking while keeping the rest safely in a secure hardware wallet. The Ledger series of hardware wallets are extremely popular and recommended by most advanced crypto users. Trezor is another brand worth mentioning.
Once again, this comes down to the idea of “not your keys, not your crypto.” The best BitTorrent wallet for long-term software storage are wallets where you fully own the private keys. It’s best to use this in combination with more diverse web wallets to enjoy the benefits of both worlds.
The best BitTorrent wallets for security are the ones that prioritize security. Stay away from wallets that don’t have PIN options, 2FA, or basic security features. YouHodler has a PIN or thumbprint required to enter the app in addition to 2FA and 3FA upon request. We also run regular security audits to ensure our walls are strong and impenetrable. Lastly, we are backed by Ledger Vault and Fireblocks for insurance and secure crypto transaction management solutions.
While the battle between iPhones and Android phones wages on, it’s nice to know that crypto doesn’t pick sides. Most--if not all--of the most popular BitTorrent wallets can be found on both Android and iOS operating systems.
Click here to download YouHodler for Android.
We’re also at the Apple store too! Click here to download YouHodler for iOS and ready all about our BitTorrent wallet functionalities for your iPhone.