Bitcoin needs no introduction for the crypto enthusiasts who spend a day, not without checking the value of the cryptocurrencies, especially Bitcoin- the father of the cryptocurrencies. Even the folks who don’t follow the crypto market might have heard of Bitcoin at least once for sure. For them, let me simplify what Bitcoin is all about in a brief way.
To be honest, Bitcoin and its underlying technology can’t be explained just in a paragraph but can try to get you a hack of it. There are more than 1500 cryptocurrencies in the world and is still growing. Out of that, Bitcoin is ranked one in terms of its market capitalization and its worth, too.
Bitcoin is a peer-to-peer digital currency and payment system, introduced as open source software in 2009 by pseudonymous developer Satoshi Nakamoto. Bitcoin works on Blockchain technology which is an open and distributed ledger. Through the distributed nature feature of this ledger, the blockchain transactions are verified by the consensus of every member, offering security and trust without a third-party overseer.
As Bitcoin has gained popularity, the hacking events also went on increasing, so it is very important to store your precious Bitcoins securely so that you don’t lose out. To store Bitcoins and other cryptocurrencies, there is a platform called wallets, which helps you secure your currencies, with the only access available to you. To create a Bitcoin wallet, you must first choose which type of wallet you want, viz, Hardware Wallet, Paper Wallet, Desktop Wallet, and Online Wallet) by means of a platform. You must be aware of bitcoin wallet details before storing it in a wallet. Below, Bitcoin wallets explained which can guide you choose the best.
Ledger Nano S is a USB sized cryptocurrency hardware wallet which is best for Ethereum transactions. It is multi-asset hardware which looks like a folding drive. The good part is that it can store Bitcoins, Ethereum, Ethereum tokens, and more than 30 other digital currencies. It works like a USB device, which when connected needs the device to confirm the transactions.
It is secure and can run multiple apps, unhackable, relatively inexpensive and malware proofed so there is no risk of the private keys to get exposed to the internet. It is one of the best Bitcoin hardware wallet. This is one of the best cryptocurrency wallets available these days.
It can support and store more than 30 cryptocurrencies and can integrate with multiple software wallets. Lastly, it is one of the not so expensive OLED-based hardware wallets.
Trezor is a hardware Bitcoin wallet which also acts like a USB device, which works on “Zero Trust Approach”, which lessens the third-party compromise. It is one of the best Bitcoin hardware wallets.
Trezor is protected by a PIN which provides you with recovery seed if your wallet is lost. It is specifically a Bitcoin wallet but supports many other altcoins. It has an easy-to-use interface and even saves from hacking and thefts by their difficult protection PIN.
Just that it limits its communication with other devices. When the USB device isn’t connected, it’s turned off.
Keep Key secures Bitcoin, Litecoin, Ethereum, Dogecoin, Dash, and Namecoin. They claim to be virus or malware proof, and assets are secured from thieves and hackers. KeepKey is a Bitcoin hardware wallet with advanced security against virtual and physical theft. Now, a lower price tag means more users can give it a try. In addition to Bitcoin, the KeepKey wallet enables the storage and transaction of a variety of cryptocurrencies and helps you keep a track of the bitcoin wallet balance.
KeepKey integrates with the wallet software on your computer by taking over a private key generation, a private key storage, and transaction signing.
Its top-notch security almost makes it impossible for hackers to steal the private key.
Exodus is a desktop supported cryptocurrency wallet which deserves to be included in the bitcoin wallet list. Exodus supports nearly three dozen cryptocurrencies including Bitcoin, Litecoin, Dash, Zcash, Ethereum among the popular ones.
As Exodus is a lite wallet, you never have to store the entire blockchain in your desktop.
Exodus galore with its pros over its cons. It has a very good interface with good access to the wallet, i.e full control.
Transactions over a crypto network can be made directly through the Exodus wallet. The transaction fee is paid to the network itself and not Exodus.
Electrum was mainly known for supporting Bitcoin and is widely considered to be a trusted software wallet in the bitcoin community. Electrum Wallet is a lightweight and easy platform to store your BTC holdings securely, where the bitcoin wallet sign up is convenient and easy.
It uses the Simple Payment Verification(SPV) method, which can verify the transaction in five seconds and the good part is that you don’t have to download the entire blockchain. Electrum uses two separate levels of encryption to protect your funds and it is easier for new users to navigate as it is having an intuitive interface.
Electrum wallet is available on Windows, Mac OS X and Linux operating systems and you can store your private keys offline in a hardware wallet used in conjunction with Electrum, and take advantage of multisig functionality to split the permission to spend your bitcoins between several wallets.
The Copay wallet was created by Bitpay in 2014 and it was designed to combine high-level security with a host of user-friendly features, making it one of the popular choices for anyone searching for a software wallet.
With multisig functionality, Copay enables you to secure transactions by allowing more than one signature, providing extra protection against theft or hacking and also making this wallet worth considering for businesses. This HD wallet is also completely open source and is not only accessible on your desktop but also through a mobile and web interface. For computer users, downloads are available for Windows, Mac, and Linux.
Armory is a full-featured software wallet known for its emphasis on security and flexibility. It is comparatively easy to use and compatible with Microsoft Windows, Apple Mac OSX, Linux Ubuntu and Raspberry Pi, which is designed for advanced cryptocurrency users.
f you’re a newcomer to the world of cryptocurrency, the user interface may seem a little overwhelming and confusing. You can also only store bitcoin with this wallet, so you’ll need to consider other options if you want multi-currency storage.
Blockchain.info is a widely known web-based wallet, which was launched in 2011. Blockchain.info claims to have provided more than 23 million wallets and been used for more than 100 million transactions.
It is one of the lightweight and easy to use a multi-currency wallet, both for mobile and web version, which is very secure and supports most of the well-known cryptos like Dash, Bitcoin, Bitcoin Cash, Stellar Lumens, Ethereum, Zcash, Ripple and many other altcoins.
It’s reliable and safe characteristics, and device compatibility feature makes it one of the best Bitcoin wallets for ios and android users.
Unlike many other wallets, Guarda doesn't store any client information, wallet data or private keys. The private key is stored in the device’s secure memory and deletes itself if you log out from the wallet. Guarda helps you to shift your assets from one coin to another smoothly, without KYC process, even limits and complex verification procedures.
GreenAddress is one more popular option for bitcoin holders that value security and privacy but is not that expensive as other hardware wallets. Its important features include the security inclusions, such as two-factor authentication and multi-signature functionality. It’s a deterministic wallet and GreenAddress maintains that it never stores its users’ private keys, not even when they’re encrypted, making the Bitcoin Wallet Address safe and secure.
Bread is a popular bitcoin-only wallet available on Android and iOS devices which is which is a competent BTC Wallet free to download and use, and provides a convenient and simple access to your BTC.
The app is having a straightforward setup process which ensures that it’s easy for cryptocurrency novices to use, while it uses hardware encryption to provide increased protection for your funds. Other features include a backup and restore facility plus PIN and Touch ID protection. Bread has the best Bitcoin Wallet app, with its streamlined process.
Airbitz (now EDGE) is an open-source mobile wallet available on Android and iOS devices which offers user friendliness by allowing you to quickly and easily manage your bitcoin.It offers hierarchical deterministic (HD) and two-factor authentication features and can be easily backed up for extra protection. Bitcoin Account Signing up is also a quick and straightforward process, while scanning QR codes and Bluetooth Low Energy (BLE) are offered for the convenient transfer of funds.
Mycelium is a well-established name in the crypto sphere founded in 2008. It is a mobile wallet available for both Android and iOS devices, and this open-source program offers a range of features that make it one of the most popular choices among bitcoin holders.
Mycelium uses the BitID open protocol for secure authentication, makes it easy to create backups and also offers support for offline hardware wallets, thus makes it one of the best Bitcoin wallets for android.
Jaxx is becoming increasingly popular day by day as it provides a seamless user experience. Jaxx is available on different platforms like Windows, Linux and OS X desktops.
Jaxx is even available on mobile versions such as android and ios and also chrome browser extension. Jaxx is appropriate for the new users as the setup process is very simple to understand. It supports cryptocurrencies like Dash, Ethereum, Litecoin, Bitcoin and many more. The private key always remains on the device for extra security.
Coinomi is a popular wallet that supports multiple currencies like Dash, Bitcoin, Ethereum, Litecoin, and many more cryptocurrencies. Coinomi has a user-friendly and convenient user interface, which makes it one of the best Dash wallets.
Coinomi is an HD wallet, which allows simple backup and your private keys never leave your device. ShapeShift integration allows for fast exchanges between cryptocurrencies.There are some bitcoin wallets that accept PayPal like Cryptonit, Paxful, XCoins, etc.
This is one of the old yet reputed Bitcoin Wallet, which is recommended on both Bitcoin’s official website on Bitcoin wallet review. The best part about it which makes it unique is that it is secure and unique. If you’re using Bitcoin core than you have to make sure you have enough bandwidth and time because if takes time to download the complete Bitcoin blockchain and it has to sync always.
As the name says, it is the wallet, which is in the form of a paper. That means all your private keys will be stored here, which is kind of risky. But, if you are sure you can store it properly, there’s nothing better than this.
The best part is that no one can hack your account as it is not available anywhere else apart from you. But the sole responsibility stays with you. If you forget where you have stored it, it’s gone forever. There’s no second copy.
It is the world’s first Bitcoin stick wallet which is a small USB like object that allows you to spend Bitcoin like a dollar bill and acts like a read-only USB flash drive. It is compatible on any computer, laptop, and phone.
That makes it one of the best Bitcoin Wallets. It is comparatively cheap and very easy to use bearing all the security features. It also has an easy verification chrome feature.
This wallet has its own uniqueness for being a hybrid wallet wherein you and the server can hold the encrypted keys that allow access to the wallet. It stores an encrypted version of your private keys online but decryption happens in your browser. For security reasons, you should always backup up your wallet.
The wallet offers multiple features such as giving you a PDF document of the transactions made on your wallet for better transparency.
The BitPay Bitcoin wallet can be used for both desktop and mobile and is available for Android, iOS, Windows, Linux, and MacOS. This wallet solution was first released back in October 2016 and is built on top of the Copay platform. This has now started supporting BCH as well. It provides an easy way to keep and expand Bitcoin.
CoolWallet is a hardware wallet that looks like a credit card. The Coolwalet card is a very slim electronic device that generates and stores your private keys on it. It can connect to any device that uses NFC or Bluetooth technology. It is started in 2014. They claim it as first mobile hardware wallet.
I have used many crypto hardware wallets and the CoolWallet S is the best one I’ve used. It combines great security with usability that’s ideal for a hardware wallet - sys Charlie Lee, the creator of Litecoin
imToken is the world’s largest Ethereum digital asset wallet, with currently 6M users that produce ~10% of all Ethereum transactions on average. Apart from Ethereum, imToken wallet can be used for Bitcoin and EOS as well in version 2.0 of the wallet. The user will have the full control of their coins if they are using imToken wallet. They also provide inbuilt DEX support for in-wallet exchange of coins.
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We hope that you found this latest review of best Bitcoin wallets useful and will be able to make a better decision while choosing the best Bitcoin wallet for you.
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