There are several ways to store your Bitcoin, whether it’s in a light weight wallet for easy transactions or more fleshed out wallets for advances features and extra security. There are even now dedicated hardware wallets which sign transactions and keep your private keys secure, even when using it on a compromised computer.
Then there are cold storage wallets, or offline wallets. These are used primarily for long-term storage, and are only brought online when you need to pull funds from it. These are normally printed out, and kept in a secure location so you can, at a later time, access the wallet.
Keeping them on something more durable than paper is highly recommended, perhaps a QR code laminated or even a plastic or metal card. This insures accurate QR scanning and detersetching or other marks that could make reading the inscribed keys or QR codes difficult.
You can also use a wallet on your computer, which was the original wallets. They also had a built in miner application, which was how the first miners helped secure the network.
You can also send and receive bitcoins on a mobile device. QR codes, as well as NFC in the foreseeable future may be implemented to allow for even easier sending and receiving of Bitcoin than QR codes.
Lastly, there are online wallets. Most of them require you to trust a company because they are holding your Bitcoins, with blockchain being a major exemption in that you store your private keys even though it’s online. Some people see this trade off just fine, as your able to access your wallet anywhere, assuming you have an internet connection. Some people don’t however, and believe trusting other people is against the belief of decentralization and what Bitcoin stands for.
In the end, it’s all about what you value more. Convenience or security.
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