The world is currently running on tiptoes and crypto-currency is the force. Crypto-currency or digital currency is taking over normal cash system, and even hackers are now demanding their ransom in crypto-currency. And with the term crypto-currency, comes to the term ‘Bitcoin.’ One of the most famous and popular crypto-currencies, Bitcoin is making investors crazy from all over the world. But Bitcoin is a crypto-currency and world’s first decentralized digital currency, so how would you store them? It is intangible and cannot store in your normal wallet, can you?
Well, no. But still, you need wallets that are specially designed for Bitcoin alone. It is not a tangible wallet where you would be storing Bitcoin. So what it is? Let’s find out.
What is Bitcoin Wallet?
In the simplest language, Bitcoin wallet can be described as the software program that can store Bitcoin easily. Without owning a wallet, you will not be able to receive or buy Bitcoins. Thus, a Bitcoin wallet is the first step if you intend to invest in Bitcoins. Bitcoins wallets are two types mainly– Hardware Wallets and Hot Wallets. Apart from these two types, there exist other wallets too such as Web wallets, iOS wallets, Android wallets and desktop wallets.
And we can understand, it is pretty confusing to choose the right wallet for your Bitcoin investment. So, to rescue you from that trouble, we have listed top 10 best Bitcoin wallets that will be a perfect match for your investment.
Let’s have a look.
Top 10 Best Mobile, Desktop & Hardware Bitcoin Wallets
Ledger Nano S
It is a hardware Bitcoin wallet that provides the most secure system to store Bitcoins easily. Released in the August of 2016, this Bitcoin wallet is easy to use. Also, amongst the hardware wallets, Ledger Nano S is the cheapest one. It is surely, one of the best bitcoin wallets. Also, it can be used in a computer, even if that computer is malware infected.
Pros Of Ledger Nano S
- Currently, the cheapest bitcoin wallet that comes with a screen.
- It is easy to set up.
- Also, it is compatible with the computer, and any kind of computer will do the work.
- Fewer margins for errors.
- It has an easy backup system.
Cons Of Ledger Nano S
- No passphrase supporting system is included.
Launched in the August of 2014, Trezor is another hardware bitcoin wallet that provides a great security system. It offers secure cold storage and also, it offers the conveniences that are provided by a hot wallet. With the help of Trezor, you can control the private keys all the time; thus it makes the backup system pretty easy. Also, it provides passphrase system as well. And another good point of Trezor is that it is compatible with other software wallets even when it is a hardware bitcoin wallet.
Pros Of Trezor
- Easy to use and easy to back up.
- The screen offers extra protection and verification.
- Provides the utmost security to your Bitcoins.
Cons Of Trezor
- Not affordable much. $99 could be heavy for those who are on budgets.
Keepkey is another great Bitcoin wallet that comes with a screen. Launched in 2015, this bitcoin wallet is easy to use and comes with a screen. Not only that, but it also provides tight security for all the bitcoins that have been stored in it. Although this bitcoin wallet has not been on the market for a while, their easy set-up system is already popular amongst lots of Bitcoin investors. Also, Keepkey is an HD wallet which means that the entire wallet can be backed up with 12 words generator on setup easily.
Pros Of KeepKey
- The utmost security of this wallet is the best feature.
- It has a digital screen and metal body.
Cons Of KeepKey
- A little too pricey.
- It is new in the market and yet to gain the trust of the large share of the investors.
Coming to Android bitcoin wallets, Mycelium is the most popular one on the deck. It is easy to use, and you will not face any hassle while sending or receiving bitcoins through this wallet. It is compatible with your Android device perfectly and provides great security system too. Also, it is simple wallet which does not have any complicated process of set-up. It is also used as a great trading platform as well.
Pros Of Mycelium
- Excellent upgrades are available.
- Easy setup process and easy to use.
- It doubles as a local trading platform.
- Good security system.
Cons Of Mycelium
- It does not support multi-signature accounts.
- You cannot modify it on your own.
If you are looking for Bitcoin wallets option for both iOS and Android, there is no better option than Breadwallet. Easy to use and open source wallet, Breadwallet is super simple. Also, it is easy to send and receive Bitcoin with the help of Breadwallet. It connects you directly to the Bitcoin network. It does not provide any extra sets of servers; thus your Bitcoin remains safe from any kind of hacking. Also, it is an open-source Bitcoin wallet.
Pros Of Breadwallet
- It is reliable and provides good security.
- It is an open source Bitcoin wallet.
- It connects you directly to the Bitcoin network.
Cons Of Breadwallet
- It does not provide you with private keys.
This bitcoin wallet is a win-win for both iOS and Android. It is a great wallet for those who keep asking for an easy to set up bitcoin wallet. Airbitz provides great technicality and also provides the users with the automatic backup system. Also, the login feature of this wallet is easier to use than other complicated Bitcoin wallets.
Pros Of Airbitz
- Highly secured system.
- Decentralised and it is expandable.
- Great backup system.
- It has client-side encryption as well.
Cons Of Airbitz
- It is only a mobile-based system wallet.
Now, if you are looking for a little more complicated and secure Bitcoin wallet, Electrum will fulfill your desire. This Bitcoin wallet is a kind of desktop bitcoin wallet so you cannot use it on your mobile device. Launched in November of 2011, this lightweight Bitcoin wallet is perfectly suitable for Mac, Linux, and Windows. It is a really good option for beginners and advanced users. Also, this Bitcoin wallet is supportive of Hardware bitcoin wallets too.
Pros Of Electrum
- It provides private keys.
- It is perfectly secure.
- Great for desktop users.
- It does not rely on any third parties.
Cons Of Electrum
- Not supported for mobile devices.
A brainchild of Keepkey, MultiBit is the new hit in the market of Bitcoin wallets. It is a great option for those who want to access Bitcoin wallets through their desktops. It connects you directly to the Bitcoin network; thus it is quite safe too. It is an open source Bitcoin wallet that has a great backup system. You can even restore your private keys using these backups.
Pros Of MultiBit
- It is a great desktop Bitcoin wallet.
- It is completely secure and connects you directly to the Bitcoin network.
- It is an open-source Bitcoin wallet.
- It is supported by the iOS system too.
Cons Of MultiBit
No such cons at all.
Coinbase is a hot wallet, and it works as an online exchange platform of Bitcoins. It can run on any device, be it computer, mobiles or tablets. It can run on any internet connected device, and that makes it very convenient to use. Also, it is easiest to use and quite user-friendly as well. However, the private keys on Coinbase are not always perfectly protected.
Pros Of Coinbase
- Convenient to use.
- The sending and receiving Bitcoins through this wallet is fast and easy.
- It is the easiest way to store a small amount of Bitcoin.
Cons Of Coinbase
- It has many steep records. Also not safe for a large number of Bitcoins.
Bitcoin Core is the first original wallet that stored Bitcoins. By using Bitcoin Core, you can have controls over both the private and public keys. Thus, Bitcoin Core provides the ultimate security to your bitcoin wallet. Also, it is quite easy to use, and the setup procedure of this wallet is user-friendly as well. And not to mention, it is perfectly equipped with mobile devices. It has a great backup system for the large amount of Bitcoins too.
Pros Of Bitcoin Core
- Control over both private and public keys which makes this wallet secure.
- It is easy to use and user-friendly.
- It has a great backup system too.
Cons Of Bitcoin Core
- These Bitcoin wallets need a lot of space to store a large number of Bitcoins.
From 6 cents in 2011 to $7400 in 2017, Bitcoin is growing in the world of crypto-currency just like a weed. The rate of growth of Bitcoin is crazy, and every day, more people are investing in this digital currency. But only investment is not enough, choosing the right wallet is necessary too. Thus, go through the above mentioned Bitcoin wallets and choose the one that suits you. Happy Bitcoining!