A Bitcoin wallet is a place where you keep your Bitcoins after purchase or mining. It is the first thing to have when dealing with Bitcoins. Bitcoins are transferred from one wallet to another in a Bitcoin transaction. No single Bitcoin wallet satisfies every requirement of Bitcoin users, different types of wallets are needed for different purposes, with different features. The wallets could be Hardware, Cold (offline wallets) or Hot (online wallets). Generally, the safer, the better. Here is a review of the best Bitcoin wallets from which to choose.
Launched in 2016, Ledger is widely regarded as the most popular and one of the best hardware Bitcoin wallets, because of its security. Ledger Nano S is just one model in the Ledger series. It is a physical portable vault for Bitcoins, which resembles a USB flash drive and can be connected to an activated device such as a laptop or desktop, for use. Having a metallic case, it costs about €58 and is easy to use. Transaction fees on Nano S depend on the speed of transaction confirmation you choose.
TREZOR is a cold hardware wallet, launched in 2014. It is super secure and is actually hack-free, offering the highest security level possible, because it is a thumb-sized screen device that does not require password or username for the account. Only the user with the TREZOR Bitcoin wallet can access the Bitcoin account. TREZOR has a good web interface but costs even more than ledger. It is very good for storing large amounts of Bitcoin.
Released in 2015, Keepkey is one of the newest Hardware Bitcoin wallets, is very easy to use (beginner-friendly) and secure. It has a web interface, it is very secure also, but is very expensive, costing up to $129 (according to coincentral.com). To be sincere, it has a very attractive design.
Coinbase is a very well-known and reputable Bitcoin company, which is not only a Bitcoin wallet but also regarded as the foremost Bitcoin exchange. The Coinbase wallet is a hot wallet, meaning it can only be used online. The transactions carried out with a Coinbase wallet is tracked by Coinbase. It is free, has good security, and a web interface.
The blockchain is a very special Hot (online) Bitcoin wallet, that is free and very easy to use. It is very popular, with over 8 million users, because it is user-friendly. The Blockchain wallet can be used on Mobile devices and Desktop browsers. However, the anonymity of transactions using the Blockchain wallet is not guaranteed, and the mining fees can go very high up to $20, depending on the volume of transaction.
This is one of the best Bitcoin wallets for mobile devices, which offers wonderful security for its users. This makes it look a little complex for a new user. It has great speed of transactions. Hence it is the most popular Bitcoin wallet for Android OS. It is used only for mobile devices, and one can stay anonymous while buying and selling Bitcoins using Mycelium.
GreenAddress is a Hot Bitcoin wallet which has strong security. It can be used on the internet via a mobile device or a desktop client. Because it has multi-signature feature and ensures tight privacy and flexibility, it is the user favorite Hot wallet, especially for new users. Nonetheless, there is control over GreenAddress transactions.
As the name implies, it is all about strong security. It offers Cold wallet features and also Hot wallet features, hence can be used both online and offline. The Armory application on the desktop is pretty sophisticated, and it is not very user-friendly especially for beginners. In addition, it charges the lowest transaction fees (as low as 0.0001BTC according to cryptovest.com). However, it has no mobile app.
Exodus wallet is a Hot wallet that was launched in 2016 and allows you to store various currencies except for Bitcoin, such as Litecoin, Dogecoin, Ethereum, and Dashcoin. It has a web interface and can directly exchange Bitcoins for Altcoins. It is easy to use and user-friendly. Nonetheless, it has not more than an average security and is still pretty new.
Airbitz is a mobile bitcoin wallet that is very secure. It is backed up and independent, allowing no third party influence over your Bitcoin wallet. It has a user-friendly interface, hence a good choice for beginners who seek strong security. It is also free.
A couple more average Bitcoin wallets exist, such as Jaxx Bitcoin wallet. Now here is an important tip for wallet owners. No wallet is a 100% secure, if a Bitcoin wallet cannot be hacked, it can be stolen or misplaced. Therefore, a careful attitude on the path of the wallet owner is also highly recommended.
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