With bitcoin becoming more and more popular, we need better and more secure places to stash them. And with cryptocurrency wallet manufacturers, giving us the freedom to buy crypto with credit/debit cards, cash, and digital assets, it’s up to us to choose the place where we store our precious money of the future.
It’s only natural you’re interested in learning about the best bitcoin wallets and want to learn more about the differences between bitcoin wallets and which one you should choose.
Recommended best bitcoin wallets
- Ledger Nano X and Trezor if you want to keep your Bitcoin in cold storage (Hardware wallet). These wallets have high-security levels, 2FA, and no fees.
- Coinbase and Binance wallet if you want to use your wallet online (Online wallet). These wallets are popular among the crypto users, they have low fees and fast transaction rates, as well as high-security levels.
- Trust wallet and MyCelium wallet if you are a mobile device user (Mobile wallet). These wallets have great interface, comfortable features, and high-security levels.
- Exodus and Atomic are the wallets you’d like to try if you’re a Microsoft, Mac or Linux user (Desktop wallet). These wallets are the best of the best in the desktop wallet market. They have high-security levels, private keys are in your possession and transactions have lower fees.
Types of cryptocurrency wallets
- A desktop wallet is a wallet that you will have to download on your PC or a laptop. Your computer will limit the accessibility of the wallet only to you and secure it.
- An online wallet is a cloud-based system that can be opened through any device connected to the internet, thus making it the most comfortable choice for online users.
- A mobile wallet is an app that you can download on your smartphone and use it as your small pocket cryptocurrency wallet.
- A hardware wallet is for the users who want to conduct the transactions online but keep their private keys offline.
- A paper wallet is what it sounds like. It’s an offline storage option that depends entirely on the paper that contains the QR code of your wallet address.
Best Desktop Wallets
If you prefer using desktop versions of cryptocurrency wallets, this part of the guide will interest you the most.
Pros: supports BTC and altcoins, built-in regular exchange, comprehensive interface
Cons: no 2FA, higher fees
Atomic wallet is probably the highest rated desktop wallet that supports 300 coins besides Bitcoin. Despite a few complaints about the high fees, it seems like the users are comfortable with using Atomic wallet.
- Users can exchange BTC, LTC, and QTUM within the platform, without intermediaries
- The atomic wallet also supports a mobile app for Android and iOS users
- The wallet supports Windows, macOS, Ubuntu, Debian, and Fedora
- You can buy XRP, BTC, LTC, and ETH with a credit/debit card.
How to get Atomic wallet?
Go to Atomic Wallet website and download the file for your current operating system (e.x Windows). Install the app on your computer and click on the “Create a new wallet” button.
Backup the wallet with randomly generated keywords and click on the button “Open wallet.” Remember, your private key is stored on your computer, so you’re the only one who controls the money.
Pros: Private key is held by the user, high security
Cons: no 2FA
Exodus is a desktop-only use bitcoin wallet and the first desktop wallet to support multi cryptocurrencies at the same time.
- This wallet doesn’t need identity verification, which might be good news for some, but bad news for the other. But you do need to back up your seed.
- Users love Exodus wallet for its’ interface and comfortable use. The pie-chart displays the portfolio with the utmost details and great visual effects.
- The wallet supports macOS, Windows, and Linux.
How to get Exodus wallet?
Simply go to Exodus.io and download Exodus wallet version for your operating system. Install the app and start backing up the seed. Remember, you can only back up your seed if you have money on your balance.
Best Hardware Wallets
If you’re looking for maximum security, full cold storage, and secured private key, hardware wallets are the best option for you. The two best hardware wallets that you can use to store your Bitcoin are Ledger Nano X and Trezor wallet.
Ledger Nano X
Pros: Full cold storage, supports more than 1100 digital assets
Cons: Limited internal memory
Ledger Nano X is a hardware wallet, meaning that you will have to buy a modem to use your cryptocurrency wallet.
Some crypto enthusiasts prefer using a hardware wallet to be completely safe with their purely cold storage.
- Ledger Nano X is the most modern hardware wallet that works great in 2019
- It supports desktop and mobile devices
- You can store up to 100 cryptocurrencies
How to get Ledger Nano X?
Follow the instructions given on the screen. Next, you will need to choose your pin and save the recovery phrase. Now, all you have left to do is to use your new hardware wallet to send and receive your crypto.
Pros: High security, 100% cold storage, 2FA, no fees (only the cost of the device)
Cons: Not as flexible as online versions
Many crypto enthusiasts say that security lovers should store their BTC on Trezor wallet. Why is that you ask? Trezor is a digital wallet with the highest security on the market.
How to get Trezor wallet?
Activate your plugin and plug your Trezor device in the computer. After this, you will need to follow the instructions and choose the PIN.
The process is similar to Ledger Nano X setup. In the end, you’ll need to write down the randomly generated seed (a private key) and carry on with storing, sending, and receiving your Bitcoin.
Best Online Wallets
Online wallets are flexible, comfortable to use, and can be used on any device and any location, as long as you have an internet connection.
So far, the best options for online wallets are Coinbase Wallet and Binance.
Pros: Low fees, high security, numerous payment methods
Cons: Slow verification process
Coinbase is one of the leading all-crypto hubs and all-time favorite Bitcoin wallet. It is an online cryptocurrency wallet that also offers a mobile app for iOS and Android users.
- Coinbase has a sophisticated exchange platform for thousands of cryptocurrencies
- Coinbase supports bank account and a credit/debit card payment methods
- It has no geographical restrictions and is available for everyone
How to get a Coinbase wallet?
Go to www.Coinbase.com and register to create a new account.
All you need to do is to provide your email address, come up with a secure password, and follow the instructions given on the website.
After you verify your email, you’ll need to verify your identity with photos of your ID card (passport or driver’s license) and a document affirming your address.
You will now be able to use your Bitcoin wallet address and QR code to receive BTC.
Pros: Low fees, hot storage feature, low minimum deposit
Cons: Slow verification
You might know Binance from the guides on how to use cryptocurrency exchange platforms, or you might’ve bought some coins on the platform yourself. But Binance is not just an exchange platform; it’s a highly secure online wallet as well.
- Binance allows you to store purchased and traded cryptocurrency on its’ native hot wallet.
- Binance has low fees and high-security levels
- Besides Bitcoin, it supports a huge range of Altcoins.
- It’s very efficient if you’re looking for fast transactions.
- Supports credit/debit card payments
How to get Binance wallet?
All you need to do is to get an account on Binance and follow the instructions given on the website.
Fill in your email address and agree on their terms and services, and that’s the first step of getting the Binance account. On the way to complete the registration, you’ll need to set up 2FA and conduct identity verification.
That’s it; now you can use your Binance account to trade and store your Bitcoins.
Best Mobile Wallets
If you prefer a more mobile and flexible method of storing and using your BTC, it’s better to look into Mobile wallet listing. And let me tell you that there are hundreds of mobile wallets for cryptocurrencies.
We recommend using the highest-rated mobile apps for both iOS and Android. MyCelium and Trust wallet always come in handy for such recommendations.
Pros: comfortable interface, supports iOS and Android, supports altcoins
Cons: supports only 13 altcoins
Trust wallet is a leading mobile wallet on the crypto market.
- Trust wallet supports Bitcoin and 13 altcoins
- The transactions are fast and come at low cost
- Trust wallet is available on the App Store and Google Play
How to get Trust Wallet?
Download Trust Wallet on your device of choice and install the application.
Follow the instructions on the screen and don’t forget to backup the seeds. Once you finish setting up, you’ll be met with a comfortable and easy-to-use interface.
Pros: High security, Hot and Cold storage options, available for iOS and Android
Cons: No desktop version
Many crypto enthusiasts will recommend using MyCelium. It’s an excellent wallet for newbies and experienced crypto users. The interface is comfortable, the registration process doesn’t take too much time, and the final results are worth the time.
How to get MyCelium Wallet?
Download MyCelium on your iOS or Android device and install the application.
The registration process truly doesn’t take too much time as you will only need to follow the instructions given on the screen. The app will also recommend backing up the seeds, which is essential.
Once you’re done, you can use your comfortable mobile wallet to store, receive, and send Bitcoins.
In-depth research is never too much if you’re looking for different options and more ideas. Do your due diligence, and you’ll never feel insecure about your crypto knowledge and the security of your funds.
FAQs – New!
Are cryptocurrency wallets anonymous?
Sort, of, but not really. Wallets themselves are not marked or linked to an individual. But the crypto transaction is publicly stored and monitored with blockchain. The transactions won’t have your name per se, but they will have a wallet address which can be traced back to your identity. As identity concerns rise among the blockchain community, more new projects are being launched that promise extensive privacy and anonymity.
Multi-currency or single-use?
Having a crypto wallet for a single currency may not make sense to most users. As cryptocurrencies grow, users want access to diverse assets. As such, it is good to have a multi-currency wallet.