Best Bitcoin Wallets

The best Bitcoin wallets for safe and secure storage

Best Bitcoin Wallets. Since Bitcoin’s advent in 2009 it has become the first thing people think about when the name ‘crypto’ or blockchain comes up. While cryptocurrencies like Bitcoin are highly unpredictable, they don’t seem to go away. One Bitcoin still cost thousands of dollars today. As cryptocurrencies like Bitcoin continue to exist or even grow in value, individuals may become engrossed in owning some, but it’s important to understand how to securely store Bitcoin.

To quarter those looking to securely invest in Bitcoin, we have accumulated a list of the best Bitcoin wallets and storing devices. Some of these wallets have more features than others, including the ability to store additional cryptocurrencies than just Bitcoin, as well as added security measures. This list drives in no particular order other than having hot wallets come first, but that does not mean hot wallets are better. To learn about the differences in definite wallet types, such as hot and cold wallets, you can check below this list for full information.

For now, you can think of hot wallets as a not as much of secure way to make transactions rapidly and cold wallets as a extra secure way to store for longer terms, though we do recommend that you understand these concepts entirely earlier choosing a wallet, as safe storage is key.

Best Bitcoin Wallets of 2021

  • Exodus: Best Hot Wallet for Learners
  • Electrum: Best Hot Wallet for Advanced Operators
  • Mycelium: Best Hot Wallet for Mobile Customers
  • Ledger Nano X: Greatest Hardware Wallet (Cold Wallet)
  • Trezor Model T: Greatest Hardware Wallet For a Large Number of Cryptocurrencies (Cold Wallet)
  • Ledger Nano S: Greatest Bang For Your Buck Hardware Wallet (Cold Wallet)

Exodus: Best for Beginners

  • Type of wallet: Warm wallet
  • Purchase charge: Free
  • Compatible hardware wallet: Trezor
  • Incorporated exchange: Yes

Exodus is a desktop and mobile wallet with a very unassertive user interface and an exchange built-in. One of Exodus’s most general features is the ability to swap between a growing number of cryptocurrencies. Exodus currently permits for swaps 5 among over 100 cryptocurrencies.

With its easiness, this wallet is excessive for beginners just getting into the crypto space. It also takes great support, which is an essential feature for beginners getting into what numerous would consider a confusing market.

While it is great for beginners, more advanced users may find it missing in some features. First, Exodus is a secured source wallet. This goes contrary to the character of the idea of Bitcoin and blockchain and can create some security concerns as its code is not open for everyone to see. Instead, users trust on the Exodus team to ensure there are no slums in the security of its wallet.

Exodus has an option to set custom fees in addition to repeatedly setting a fee that make sure the transaction completes quickly.

Merits:

 

  • Huge variation of cryptocurrencies
  • In-built exchange
  • Decent customer support

Demerits;

  • Closed source software

Electrum: Best For More Advanced Users Interested in Just Bitcoin

  • Type of wallet: Hot wallet
  • Purchase cost: Free
  • Compatible hardware wallet: Trezor and Ledger
  • Incorporated exchange: No

Electrum is one of the unique Bitcoin wallets. It has been round since 2011, 2 years after Bitcoin’s conception, and takes changed little since. While this wallet is bare-bones in terms of its user limit and its guarantee to only Bitcoin, it excels at this primary function. Electrum is also more right for advanced users due to its complex options.

Electrum is open source, allows its users to set custom transaction fees, and has the option to choose between legacy Bitcoin and Segwit. It also offers users the ability to control the level of security they wish to use. For example, you can create a normal wallet, one with 2-factor authentication, or a multi-signature wallet. You can also extend your seed phrase with custom words.

Electrum is perfect for the more innovative Bitcoin holder who wants great security features and customizability all in a simple layout.

Merits:

  • Customizable transaction fees
  • Greater level of security than most hot wallets
  • Ability to customize seed phrase

Demerits:

  • Bare-bones user interface
  • Only works for Bitcoin
  • No customer support

Mycelium: Best for Mobile Users

  • Type of wallet: Hot wallet
  • Purchase cost: Free
  • Compatible hardware wallet: Trezor and Ledger
  • Incorporated exchange: Yes

Mycelium is an open-source, mobile-only Bitcoin wallet. Mycelium presently only supports Bitcoin. In some ways, Mycelium is quite alike to the Electrum wallet with some of the changes being that it is mobile only, has a more refreshed user line than Electrum, and also has a built-in exchange.

Mycelium, like Electrum, is one of the former wallets in the space. Also like Electrum, you can set custom business fees so you can choose how long you’re prepared to wait for a transaction to be completed.

Mycelium also has a few more interesting structures such as hardware wallet support, which allows users to hold their Bitcoin in an offline storage means while still using Mycelium’s user interface to see their holdings.

Merits;

  • Customizable transaction fees
  • Ability to use hardware wallets
  • Open-source software

Demerits;

  • Mobile only
  • Only works for Bitcoin
  • Confusing for a first-time user

Ledger Nano X: Best Hardware Wallet

  • Type of wallet: Cold wallet
  • Purchase cost: $119
  • Incorporated exchange: No

This is the second generation hardware wallet from Ledger,  launched in 2014. Ledger’s first cryptocurrency invention, the Ledger Nano S, was one of the first hardware wallets on the market and conquered the space for a number of years.

 

In 2020, Ledger experienced severe hacks that exposed detailed customer information including names, phone numbers, email addresses, and even home addresses. However, this does not affect people’s private keys, it has led many to question the integrity of Ledger’s internal security dealings.

The Nano X looks like a USB drive and connects to your device via USB or Bluetooth. This means that you can join the wallet to your iOS or Android device and do not need a computer. It funds well over 1,500 cryptocurrencies. This list continues to grow each year as the Bitcoin community asks for support for their favorite crypto’s.

While the stratagem itself is a cold storage hardware wallet, the Ledger team has formed the Ledger Live software that provides a user interface for all your properties. This gives consumers the ability to add new wallets for different cryptocurrencies to their devices and manage their collections. Ledger hardware wallets have been, and currently are, the most popular in the industry. The Ledger also comes with a USB Type-C cable so that it can be linked to either a desktop computer or a smartphone if preferred over Bluetooth.

Merits:

  • Ledger Live has an intuitive and convenient user interface
  • Stores up to 100 different apps
  • Open-source software with added benefit of customer and community support
  • Convenience of Bluetooth connectivity

Demerits:

  • Bluetooth integration a potential vector of cyber-attack (USB is still an option)
  • Bluetooth feature not perfected

Limited wallet storage

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