The first thing that any mobile bitcoin application user will ask is whether the application is for free or not. So yes, the answer is that the bitcoin applications are free and so the application will be available for free for anyone who wishes to use it. One of the free applications is also es.bitcoins-evolution.com which is one of the best free bitcoin applications.
There are no additional fees required for using the mobile wallets, whereas the bitcoin wallet will charge some amount of transactional fee when you send bitcoins to your friends. However, the bitcoin transaction is not as cheap as it is thought to be. They do charge some nominal amount of transaction fees. Maybe not as much as that of bank charges for the transaction but nothing even lesser than that.
This transaction fee goes directly to the miners who verify the blockchain system. You will be charged a transaction fee whenever you send one bitcoin from your wallet to someone else’s. The transaction fee is typically very nominal such as 2m BTC which is very less as far as bitcoin is concerned. These fees go directly to the miner but while you make the transaction the wallet also gives you an option to choose the amount that could be sent as a transaction fee, it could be more or less than the amount actually it should be.
The best thing about this facility is that you get to exchange the money as soon as possible. It does not take much time for processing; it is sent as soon as you press the send option.
Mobile Bitcoin Application Back Up
The mobile wallet application definitely provides you the option to take a backup depending on the provider. You will get to know that there is something called “recovery seed” which is major and known to be the backup reasons. A “recovery seed” is the recovery number you can say, in case if your device is lost or your password is lost you get an access to your wallet using the recovery seed option.
Steps to Set a Bitcoin Mobile Wallet
There are some very few steps to set up a wallet and it takes really very few to set up the wallet. Although the steps could vary, they are mostly the same in case of most of the applications.
- Choose the correct bitcoin wallet but read the review of the wallet before you choose it.
- Visit the App Store in your respective phone and download it.
- After downloading when you open the application, you will have two options. The two options are “Create a New Wallet” or “recover a wallet”.
- Click on the first option which says create a new wallet and then step by step follow the options which come up next.
- Then the application will guide you about what all details you have to put in to get started.
Advantages of a Bitcoin Mobile Wallet
- The best part about this wallet is that it is very convenient to use.
- When you are able to access your wallet from your phone, it is also similar to having a similar facility like a banking facility.
- You can get access to your coins at any time and any place and you can also send your coins to whoever you want to without any restriction. Plus no one has any control over your wallet.
While we tell you the advantages of using a mobile wallet, we would also like to tell you that it is advisable not to use a mobile wallet if you have too much of an asset in your bitcoin store.
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