Bitcoin is the first decentralize cryptocurrency and is a leading cryptocurrency as well. It’s the first cryptocurrency that had come up with the idea of blockchain. Blockchain is something that prevent crypto users from double spending problem and make it secure. But your digital assets can be stolen through hacking or unauthorized use. For preventing you from this problem there are several wallets where you can safe your Bitcoin. If you are owner of Bitcoin then its safety and security no doubt is your responsibility. Bitcoin transactions are irreversible. For making your daily Bitcoin transactions you must have access to both public and private keys that must be protected especially private keys. Bitcoin wallets are available for various platforms, such as desktop, mobile, online, hardware and also available in paper form. In this guide I will show you 14 most trusted Bitcoin wallets that are given below.
Desktop wallet is a software where you can store your bitcoins. It is one of the most secure wallet for your Bitcoin storage. Bitcoin transactions can be easily performed through the use of desktop wallet. Use of desktop wallet can be a little bit confusing for beginners in the crypto market.
Bitcoin Core is a software that initially presented by Satoshi Nakamoto. It was presented under the name “Bitcoin” but later a new name was given to “Bitcoin” that was “Bitcoin Core”. You can get complete control over your public and private keys by using this software, that guarantees your bitcoin safety and security.
Using Bitcoin Core, you need a lot of free space, at least 65GB because it comes with the data history of bitcoin transactions ever performed and this number will keep increasing every day as more bitcoin transactions will be made.
Multibit is a lightweight desktop wallet that you don’t need a lot of free space for downloading it. Just over 30MBs space is enough. As the engineers who built multibit announced that they would no longer support it now many people use it together with KeepKey.
It is very popular among the most secure bitcoin desktop wallets and is a pioneer of cold storage and distributed multi-signature. It can be used offline. Private keys are stored in an offline computer, which greatly prevent bitcoins from being stolen because for stealing your bitcoins attacker would have to get access to the physical location of your computer.
As its name shows, these wallets are used for bitcoin transactions on mobile. You can make your bitcoin transactions through the use of mobile wallets that are not only accessible but also practical and secure.
Mycelium is an application available on play store for both iOS and Android mobile. It is very easy to install and use as well. By using it you can make your daily bitcoin transactions with a high level of security.
It provides five account types, including Hierarchical Deterministic, Bit ID (open protocol), Single Address Accounts, “Watch Only” Accounts and Hardware for offline devices. It also boasts private key deletion.
Wirex is one of the most popular bitcoin wallets provider service, based in London, UK. Wirex not only secure your digital assets but also needs your sanction when you make any bitcoin transaction. It is available for android as well as for iOS. You can make any bitcoin transaction at any time, all you need is just a smartphone having wirex application. You don’t need to stick to a specific place. It’s a multisignature (often called multisig) wallet that provide additional level of security because these addresses need another user sign to make a transaction before it adds to block chain, so is called 2 factor authentication (2FA) and makes the hacking so much difficult.
Xapo is a Hong Kong based company providing its bitcoin wallet services worldwide that is combined with a cold storage vault, bitcoin-based debit card and multisig technology, which guarantees its safety and security. It is completely trustable wallet that insures safety against hacking and bankruptcy.
As the word online tells us about internet connection. Online wallets are wallets that are accessible via internet connection through any device. These wallets are easy to use but are not much secure because due to access to your private information of your transactions it is much easier for hackers to steal your digital assets from your wallets. Mt Gox is a great example of such failure, as it failed to safe their customers digital assets in February 2014 and halt trading. Mt Gox were missing 850,000 bitcoins, most probably stolen, worth $450 million at the time.
However online wallets that have earned a good name in the crypto market are given below. Although it is recommended that care should be taken while storing large number of bitcoins. It is better for you to keep them safe in other types of wallets.
Blockchain.info is not only a bitcoin wallet but also a bitcoin block explorer service that allows you to get information about transactions and blocks on the chain.
They are getting high attention in crypto market because it is very easy to use and along with web wallet, it is available for Android and desktop.
BitGo was based in Palo Alto, California in 2013 and is known for its blockchain security and fast transactions. It is suitable for those crypto vendors who want fast transactions. BitGo not only provide instant transactions services but also provide its customers zero confirmation technology.
It facilitates its customers with better privacy and safer login with watch-only. You can check your funds and transactions several times in a day and make yourself sure that your bitcoins are at their place. Its watch-only mode helps you to quickly check your balance, you don’t need to get full access to your wallet for receiving funds.
Hardware wallets are in a physical form. Private keys are stored in a hardware device and you have complete control over your funds. These wallets are more secure than the others for the reason that nobody can get access to your assets because he/she will have to get access to the physical location of your wallet. So, there is no fear of malware, phishing or hacking. Your bitcoins are entirely safe and secure using hardware wallet.
KeepKey is a multi-coin wallet that supports Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, and Namecoin. It has a large OLED display. Its backup phrase helps you restoring your lost wallet and 4-digit PIN help you protecting your wallet and its information.
It is available on various platforms such as Windows, macOS, Linux, and Android.
Along with the bitcoin, it supports Dogecoin, Dash, Ethereum, Ethereum Classic, Litecoin, Namecoin, Bitcoin Testnet, and ZCash. It is small and easy to use wallet with a small display that has a high level of security. It connects to your computer via USB cable.
It is the most trusted hardware wallet among the two mentioned above because transactions are confirmed by pressing a physical button on Ledger Nano that keep it safe from malware or phishing. It is small in size and has a OLED display.
As the word “paper” shows us that these wallets are in form of printed paper. Through the use of paper wallets bitcoins are brought offline. You can print out your public and private keys on a piece of paper, which you can store on a secure place. So, it is completely secure against hacking.
BitcoinPaperWallet is a website that provide tamper-resistant paper wallets services so you could keep your bitcoins offline. It also teaches you about the usage of paper wallet by showing you guidance videos.
BitAddress.org is a bitcoin wallet generator for secure offline storage. It allows users to make bitcoin transactions without taking any external eWallet service.