The Ultimate Guide To Multibit Wallets

The crypto community has grown past what it used to be about a decade ago. As the community grows, the attacks also grow, hence, the need for every crypto enthusiast and investor to always stay ahead of these hackers by doing whatever it takes to keep their assets safe. When it comes to keeping your assets safe, there are more than one means, and it could be in various formats. However, for the sake of this content, we would be considering the multibit wallet as a case study.

If you are looking for the best means of keeping your asset safe, you should consider the multibit wallet. The wallet is not just safe because of the extra layer of security or its partnership with KeepKey. You could use the multibit wallet recovery as one of the perks of using the multibit wallet to keep your assets.

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What Is A Multibit Wallet?

The multibit wallet is a bitcoin wallet that uses cold storage. It was developed in 2011 and is currently affiliated with the KeepKey Company. The multibit wallet is a desktop app downloaded via the KeepKey official website. It could be used both online and offline, with its capacity to function as a cold wallet. It is compatible with various operating systems like Linus, Mac, and windows, so you need not worry about compatibility with your PC.

It should, however, be noted that since multibit is a desktop application, it increases the chances of it being hacked and susceptible to phishing links and cyber-attacks. Nonetheless, you should always adopt the multibit wallet recovery, which is one means of staying ahead of any hack or attack.

Features Of The Multibit Wallet

Why should I use a multibit wallet? Is it better than other cold wallets? As mentioned earlier, more than other crypto wallets, multibit sits as one of the most secured because of its affiliation with KeepKey and its recovery services, amongst other features listed below.

Supports Several HD Wallets In A Single Setup

One of the main features of multibit that has put it on the top lists of wallets for your crypto asset is that it supports multiple HD wallets. So you can choose to have different assets in different wallets in one multibit application on your PC. This means that, with a single multibit setup, you can open several wallets, with each having its security.

Compatibility And Network Synchronization

The wallet on its own allows fast internet connection and synchronization. The synchronization between the multibit wallet and network takes just a few minutes when in usage, so you need not worry about the wallet not connecting with the internet or the transactions going off. More than this, the wallet is also compatible with the different operating systems. All you need do is visit the official site and download the setup compatible with your operating system, and you are good to go. Once it’s downloaded, you can continue with the installation, which is also very easy. With just a few steps, your multibit wallet is ready for use.

It’s Open-Source

If there’s any reason you should choose multibit above others, it should be because of its open-source property, being one of the characteristics of the blockchain ecosystem. The wallet services are supported by KeepKey, which means its services could be vouched for, and it’s transparent to all.

How To Use The Multibit Wallet

Now that you choose the multibit wallet and the setup download has been successful, we move to installation. The installation is like every other application software, which would take less than seven steps, and you are done.

After you have completed the setup and opened the wallet, you need to understand how to navigate the wallet. Primarily, your balance would be the main bone of contention, and it could be found at the top left session of the multibit home screen. On that same left, you can find other features like “payments, send/request” amongst others.

Also, you can choose to change the wallet’s preference by clicking the “preference” button to change your preferred currency, language, and many others. It is no news that they are over 40 different languages available on the multibit wallet, making it relatively easy for you to navigate the wallet in your native language.

The multibit wallet has been in existence for over a decade and is one of the best wallets to store your assets. Unlike others, multibit has its recovery services that give you the opportunity of getting your assets back if you ever lose them. The multibit wallet recovery service is as effective as it is user-friendly.