You don't necessarily have to set up your own bitcoin wallet to store your assets. Some crypto exchanges — like Coinbase and CEX.IO — offer their own wallets to users. The difference between these platforms, though, and the bitcoin wallets mentioned above, is mainly one of security and custody. If you'd prefer to have complete custody or control over your money, you'll probably need a non-custodial bitcoin wallet.  How to transfer from Coinbase to Coinbase Wallet without fees? In February 2021, U.S. Treasury secretary Janet Yellen called Bitcoin "an extremely inefficient way to conduct transactions", saying "the amount of energy consumed in processing those transactions is staggering". In March 2021, Bill Gates stated that "Bitcoin uses more electricity per transaction than any other method known to mankind", adding "It's not a great climate thing."

You should not attempt to use your Cryptocurrencies Hub to hold, receive or request any digital assets other than the Crypto Assets supported by PayPal. If you attempt to receive or hold digital assets in your Cryptocurrencies Hub that are not supported by PayPal, or someone attempts to send such unsupported digital assets to you (including via an airdrop), they will be permanently lost. PayPal is not responsible or liable to you for any losses or damages which may occur as a result of any attempt to use the Cryptocurrencies Hub with any digital asset we do not support. Emerging Crypto Crime Typologies and How to Uncover Them Mobile Bitcoin wallets, like Bitcoin Wallet for Android, let you use Bitcoin to pay for items in physical stores that accept them by scanning a QR code or using NFC “tap to pay.” Web wallets, such as Coinbase and Blockchain.info enable you to use Bitcoin from any browser or mobile device and often offer additional services, like current Bitcoin prices and news and the ability to buy, use and accept the cryptocurrency.