Currently, more and more beginners are trying to understand how Bitcoin (BTC) wallets work and which one to choose. The main thing that you need to pay attention to is the level of protection and a user-friendly interface.
After installation, the wallet itself essentially provides the user with the information that he has a certain amount of cryptocurrency on his balance. It also stores a private key that allows the owner to send cryptocurrency, and a seed phrase, usually consisting of 12 words. It will help to restore access to the user’s cryptocurrency if the owner suddenly loses access to the Bitcoin wallet. So what is the best wallet to keep your assets safe? Let’s find out!
Types of Bitcoin (BTC) Wallets
What is the best Bitcoin wallet? There’s no such thing: everything depends on the user’s needs and requirements. There are five basic types of Bitcoin wallets. Bitcoin Wallets are mainly divided into several categories: hardware, mobile, desktop and web platforms.
Bitcoin (BTC) Hardware wallets are considered to be one of the most reliable ones. However, if the user loses the device and the seed phrase, then their Bitcoins will disappear forever. Therefore, it is recommended to store the seed phrase separately from the device.
Mobile and desktop BTC wallets are quite popular but are considered more vulnerable to hacker attacks.
Bitcoin (BTC) Web wallets are easy to use and are the most suitable ones for beginners as there are fewer responsibilities associated with the safe storage of the users’ crypto.
Bitcoin (BTC) Paper wallets are designed for long-term cold storage of cryptocurrency. In Bitcoin paper wallets, the private keys are written on a piece of paper.
How to Select a Bitcoin wallet?
In our list of top 20 Bitcoin (BTC) wallets, you will find all kinds of wallets – after all, each option proves to be efficient in certain cases. There is no one-fit-all product. Before you opt for one of them, find out how to select a decent solution.
There are five primary aspects to consider:
Verification of payments
Control of funds
The choice of a wallet should be based on what you want to do. If you want to store a large amount of money in crypto, then it is better to choose a hardware solution.
For maximum privacy, use wallets that download the full blockchain, if the wallet uses centralized servers, then the group of your transactions can be very easily tracked by IP, even if you use Tor.
Storing all your BTC savings in one wallet is a serious mistake. Experienced users recommend using several Bitcoin (BTC) wallets – each for a different purpose. One is for simpler tasks when you need to perform this or that operation with Bitcoins as quickly as possible: quickly replenish your account, convert your crypto to another currency or withdraw funds. And the second, with a more advanced interface – for complex and serious operations with coins (mining or trading on exchanges).
Now, without further ado, let’s review the best Bitcoin wallet hardware, software, and web solutions.
Top 20 Best Bitcoin (BTC) Wallets
Here is our list of the top 20 best bitcoin wallets. For your convenience, we’ve decided to split them into 4 categories.
With desktop wallets, you need to install specific software to your computer for it to work. While it is generally more reliable than the web and mobile, as they are still hot wallets, they are prone to hacker attacks.
Exodus crypto wallet appeared in 2016 on the basis of the BankToTheFuture crypto-crowdfunding platform. It is a desktop cryptocurrency multi-currency wallet with a built-in cryptocurrency exchange function. The internal currency exchange function is provided by the built-in application from the ShapeShift exchange.
The main advantage of Exodus is that it works well. Quickly, without freezes, delays and error transfers. Developers give Exodus a lot of attention, constantly improving it.
The Coinomi crypto wallet was created in 2015 by two Greek programmers. One previously specialized in mobile applications, and the other participated in the development of both mobile applications and PC programs, mainly responsible for product security. The current team is not big in size and only includes about 10 specialists from different countries in Europe. Coinomi Ltd. is officially registered in London.
The official Bitcoin wallet is the most highly recommended platform for BTC storage, but once you install it, it takes over 150 Gb on your PC. So if you don’t have enough memory – don’t opt for this software.
Bitcoin Core currently runs on Windows, Mac OS X, and Linux and has support for 27 languages. It boasts an increased level of security: data on all cryptocurrency transfers is stored in a separate file on the user’s computer. To prevent hacking, the file can be encrypted with a password.
Supported assets: BTC
Available Platforms: Desktop (Windows, Mac, Linux)
This is one of the most popular Bitcoin (BTC) personal computer wallets. It is very fast and easy to use. Electrum uses third-party servers to confirm transactions, reducing the amount of downloaded data. However, this also reduces the level of security and anonymity, as centralized servers not only speed up work but can compromise your IP address.
This Bitcoin wallet app accelerates the workflow on the Bitcoin network to the maximum and minimizes resource consumption. User is free to select a server to store the private keys on. Electrum allows you to use offline storage if you want to improve your security by having a computer that is not connected to the network. You can restore your wallet using a special mnemonic code.
Supported assets: BTC
Available Platforms: Desktop (Windows, Linux, Mac), Mobile (Android)
This is another old and reliable Bitcoin wallet app for all desktop platforms. If you have enough technical skills to work with this program, you can configure it for offline storage of your Bitcoins to boost the security of your cryptocurrency. One of the best things about Armory is that it always works offline and connects to the Net only during a transaction.
Supported assets: BTC
Available Platforms: Desktop (Windows, Mac, Ubuntu)
A most recent method of storing crypto, you need to install it on your phone so that you can manage your assets. Here is our list of the best Bitcoin wallet apps:
BRD is considered to be the best Bitcoin wallet app for iPhone. Developers have also recently introduced the version for Android. The wallet allows you to manage private keys using an easy to use user interface.
Infinito Wallet is one of the best mobile BTC wallet app for storing a large number of cryptocurrencies, including ERC-20, NEP-5 protocol tokens, as well as EOS tokens. It first appeared on December 8, 2017, with the support of 3 cryptocurrencies and several ERC-20 tokens.
The advantages of the Infinito Wallet include its ease of use, sleek design, a large list of supported coins, speed of transactions and multilingualism. The wallet has a 12-word passphrase to secure your assets.
Edge is a BTC mobile app wallet for Android and iOS devices created by the former Airbitz team, released in February 2018. The wallet supports receiving, sending, storing and making exchanges between several different cryptocurrencies, as well as ERC20 tokens.
The Edge team pays great attention to the user experience in their wallet. The process of creating a new account and using the wallet takes only a minute. You only need a username, password, and contact.
Freewallet is a multi-cryptocurrency web and mobile wallet with a user-friendly interface. The mobile wallet is available for both iOS and Android. You can store Ethereum coins and the 30+ other ones available.
The best feature of this wallet is the free transfers between Freewallet users. The wallet is secured by two-factor authentication and pin-code. You can also add your fingerprint on your phone to keep your assets safe.
The wallet includes exchange and purchase functions. It’s easy to buy cryptocurrency with a credit card and exchange your coins. You don’t need to fill in your wallet address, the app will do everything for you.
Cryptopay is an online wallet where you can easily store and spend your money in the form of BTC, Euro, GBP or US dollars. It is a British company that was founded in 2013 and is committed to offering the best payment solution. Competitive advantages and features of this wallet include:
The best way to manage your BTC;
Ideal for anyone associated with the cryptocurrency market and willing to spend BTC in online stores without problems;
Contactless BTC debit card that works with any terminal for sale;
Simple conversion of your BTC into supported currencies;
No hidden fees or unfair prices;
The customer support team responds within five minutes.
Need the best Bitcoin wallet app for Android to store multiple currencies? Mycelium is considered one of the most popular Bitcoin wallets for Android. It is very simple to use. You can also easily back up, and a very detailed guide is provided with the application.
Blockchain is considered to be one of the simplest and most affordable Bitcoin (BTC) wallets. Many users choose this service because of its simplicity. Since Blockchain does not require installation on a PC, it will take a couple of minutes to create a wallet. You can send, get and buy bitcoins instantly right in the app.
Reliable and convenient Bitcoin wallet, Coinbase.com is one of the best solutions thanks to the ease of use. It allows storing not only Bitcoin but also Ethereum and Litecoin. Coinbase is very popular with merchants on the cryptocurrency exchanges. It supports integration with US bank accounts and Android applications. You can also transfer funds to the recipient by email.
Supported assets: BTC, BCH, ETH, ETC, LTC, and all ERC-20 tokens.
Lumi Wallet is an easy-to-use Bitcoin wallet app that is equally suitable for both novice and experienced users. Wallet developers are constantly expanding the range of supported digital assets and improving its functions. Lumi has been on the market since 2017 and is a product of Lumi Technologies Ltd.
Supported assets: Bitcoin, Ethereum, Bitcoin Cash, EOS and the most popular ERC20 tokens
Binance Exchange acquired Trust Wallet in July 2018. This is a mobile multi-currency wallet that works with many popular coins and is considered one of the best. One of the main features of this Bitcoin wallet app is its complete anonymity. The service does not have access to any personal information of the users. Security issues have been worked out at a high level and private keys are stored locally on user devices.
Online-based, this type of the best BTC wallet relies on the apps in your browser to work. While not the most popular, web wallets often support multi currency and generally allow you faster access to your assets.
This crypto wallet is a browser extension. When registering with GreenAddress, you not only need to specify an email and come up with a password but also come up with a PIN code and pass two-factor authentication through one of the several offered methods: email, Google Authenticator, SMS or a mobile phone call.
GreenAddress, like BitGO, will generate a sentence of 15 random words. It needs to be saved, because in the future without this phrase it will not be possible to regain access to your account. GreenAddress offers all the usual features: sending and receiving, transaction history, address book.
Supported assets: BTC
Available Platforms: Mobile (iOS, Android), Desktop (Mac, Linux, Windows)
The parent of Jaxx is a Canadian company Decentral, registered in Toronto. Its founder is one of the cofounders of Ethereum, and he positions his company as a decentralized cryptocurrency business project. In early 2016, the launch of the beta version of the multi-currency cross-platform Jaxx wallet was announced.
Jaxx integrates ShapeShift, a special service for wallets and other applications from the exchange of the same name, which allows you to exchange cryptocurrencies inside the wallet. It positions itself as an open-source project, which means that anyone can see the wallet program code and confirm its reliability.
It also offers its user the ability to set a PIN code for the wallet. You will need to enter it every time you log in and in other cases that concern needing access to sensitive data, for example, when you try to see a passphrase to restore access.
Supported assets: BTC, LTC, BCH, ETH, DASH, ZEC, DOGE, BNB, HB, OMG, MCO, NEO, and more.
Available Platforms: Desktop (Windows, Mac, Linux), mobile (Android, iOS), Google Chrome extension.
Wallet Type: Hot
TrustPilot Score: 2.7
Launch Year: 2016
Fees: Jaxx provides three custom fee options – from slow to high fees for faster transactions.
As Bitcoin is the most popular cryptocurrency in the world, the best of the best create Bitcoin hardware wallets for its users. We’ve covered them more extensively in our article on the best Bitcoin hardware wallets.
Ledger company was launched in 2014 by a Frenchman Eric Larchevêque. A few years before launching it, he was studying the possibilities of cryptocurrencies at the French Bitcoin Center, which he founded himself. He came to the conclusion that the wallets on the market at that moment were catastrophically unreliable, therefore the crypto industry had a need for a high-quality, secure product. The desire for a maximum security wallet has become the basis of Ledger’s ideology and is part of the reason for Ledger’s increasing popularity to this day.
A hardware wallet is controlled by a microcontroller (chip), which generates and stores private keys. Private key generation is used in almost every situation where encrypted data is transferred.
Trezor is a pioneer in its field. The company appeared in 2012 in the Czech Republic, when one of the founders – Marek Palatinus – had more than 3 thousand bitcoins stolen from his wallet (about $12 thousand at that time).
The main security features of Trezor wallet are the possibility of setting a PIN code on the device, the use of two-factor authentication in transactions and the ability to use multi-signatures (multiple keys that can be stored in different places).
ELLIPAL is a fully air-gapped hardware wallet meaning it does not connect to any network or other devices. Information cannot be stolen from it through a network nor can it be controlled remotely. This one, unlike many other hardware BTC wallets, has a touch screen which makes it so easy to use.
There’s a huge amount of Bitcoin wallets available, and your choice should depend solely on your requirements and budget. For cold storage, choose a hardware wallet, but if you don’t have the money to buy it, install a desktop one.
Beginners, active traders, and holders of smaller BTC sums can opt for a mobile wallet and web wallets – they are easy to use and don’t require technical skills.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.