20 Safest & Most Reliable Bitcoin Wallets You Can Trust
Online money right? That is how the world is functioning nowadays with the increasing importance that the Internet is acquiring currently. Irrespective of whatever age group you fall in, you are bound to accept that the Internet has laid claim on every aspect of our lives. One of the biggest changes that the Internet has brought with it is the transition from physical money to its digital form.
Digital wallets have been the primary form of payment for a while now and Bitcoin, one of its dominant exponents. In this post, we will be talking about some of the most reliable and efficient Bitcoin wallets, but before that, you need to be aware of the type of wallets that are available.
For the uninitiated, Bitcoin is a form of digital currency and payment system which uses a peer-to-peer network in order to complete transactions. It requires digital passcodes, and this currency is not tangible. It also does not have any kind of association with BitTorrent, in case you were wondering.
Types of Bitcoin wallets
- Let us start with the most popular one which is the mobile wallet. The mobile wallet is one of the most efficient and convenient of digital wallets because of the simple reason that you can carry it around wherever you go and if you are a manic shopaholic, then all the more reason for you to get a mobile wallet. You just need to download any mobile wallet app that supports Bitcoins, and you are ready to go.
- After the mobile wallet, it is obviously time for the stationary desktop wallet. This is the same as a mobile wallet with the only distinguishing feature being that it works on a desktop running a PC operating system. In my mind, the PC with its antivirus and other security solutions is just that tad bit more secure although smartphones have similar security reinforcements nowadays.
- Next up is the online wallet which is the same as a mobile wallet except that it does not have a dedicated app. You will have to use your browser to visit the online wallet website and then make transactions.
- The paper wallet is gaining a lot of traction with Bitcoin users nowadays because it does not involve storing anything online that might be susceptible to hacking. It is a piece of paper which contains codes and keys which help you to control your Bitcoin account and since it is a physical item, you can carry it in your real wallet.
- The last one in this list is the hardware wallet. These types of wallets are ones that can be carried physically and generally is done so in a pen drive or some kind of storage device that contains keys and codes which are essential for your Bitcoin transactions. Wallets that are not connected to the Internet are referred to as cold wallets, and the brain wallet is also a new innovation in this field where a computer conjures up a phrase containing random words which then becomes the code for the user to use during online Bitcoin transactions.
So here is the list that we have been waiting for and it consists of 20 different services that offer Bitcoin storing facilities. All of them are of different kinds and it is advisable that you read through the descriptions of every one of them in order to best understand which one is perfectly suited for your purposes. It is also to be noted that this list has not been created and arranged in any particular order.
1. The first one on this list is Copay which is a multi-signature wallet and has a unique feature that only a few of its competitors offer. This feature involves the system of restoring funds in the wallet by utilizing old backups. In this service, you will often find prompts which will advise you to back up whatever information you have regarding your Bitcoin balance and spending. This way, if anything goes wrong which results in the loss of data, you can restore everything in minutes. Apart from that, it is open source software which includes HD address generation and Livenet support. There are some complaints regarding the speed of the service, but it is also said that this is the best iOS Bitcoin wallet available. It is available for Android, iOS, desktop, and web browser.
2. Trezor is the next wallet on our list. It is a hardware Bitcoin wallet that has SPV verification and features cold storage.
Its security is one of the primary reasons why people are more inclined towards getting hardware wallets rather than software ones. It is open source, but this service does not come for free. The device that carries all the required codes to authorize Bitcoin payments or transactions is not that great looking, but it does its work very efficiently and can also be easily carried in one’s pocket. The price tag is a good 119 dollars.
3. Bitcoin Armory or what is commonly known as armory is a desktop wallet and is one of the best in this field. Due to the fact that most people are on the go nowadays, desktop wallets have fallen out of favor but this is one that has been around since the beginning and because of its excellent functioning, is looking like it will be there in the future as well. It has full node verification and offers multi-signature abilities. It comes with HD privacy and is an open source software.
4. Bread Wallet can provide serious competition to Copay because it is one of the best iOS Bitcoin wallets available currently. The first thing that will stand out if you use this is its simple interface which has earned it a lot of brownie points. It comes with SPV verification and HD privacy and like most other Bitcoin wallets is an open source app which is designed primarily for iOS.
5. At 99 dollars, the KeepKey Bitcoin wallet is one of the low-cost alternatives that you can choose for your needs. This is a very beautiful and attractive hardware Bitcoin wallet that comes with the standard SPV verification and HD privacy. It is also open source, but its USP is that it is an absolute looker.
6. Blockchain started off as one of the most popular names in Bitcoin wallets and is available for Android, iOS, as well as on web browsers, but it has fallen from grace quite a bit because of the frequent technical difficulties that befell it. It comes with trusted server verification and Tor Support privacy. It can, however, be said that this company will still go ahead in the future because of the huge amount of capital that it has and the R&D that it is currently undertaking to make the product better.
7. AirBitz is another Bitcoin wallet that comes with trusted server verification and HD privacy. It has integrated exchange offers that make it very popular with Bitcoin wallet users and the fact that there are coupons available to get additional discounts makes it one of the most attractive choices. The one discomfort that users might face is that the key is generally stored on the service’s servers.
8. Blocktrail is one of the up and coming Bitcoin wallets that has got a lot of popularity. It is a multi-signature wallet that comes with SPV verification and HD privacy. It is available for Android, iOS, and web browsers. Its blockexplorer is particularly excellent in functioning.
9. CoinKite is another multi-signature wallet that has trusted server verification and is only available for web browsers. It is, however, not open source software and sometimes charges a fee. Also, its focus on enterprise and merchant solutions renders it very unhelpful for single users.
10. Xapo is perhaps the only Bitcoin wallet that provides insurance to its account holders. It comes with trusted server verification and is available only for web browsers. It is also not open source software. Everything about this service is good and standard with the only hurdle being that it provides bad customer support.
11. Case is a hardware Bitcoin wallet with SPV verification and multi-signature security. Its software is also open source and it comes with HD privacy. It also provides the GoCelery integrated exchange is a good service with the only cons being that it does not look very attractive and also comes at a price of 199 dollars.
12. BitGo is a web supported service that comes with trusted server verification and multi-signature. It also is open source software that is very user-friendly while its functioning, as well as customer support, is very fast in addressing any user issues.
13. Green Address is a fantastic service that is available for web browsers, iOS, and Android. It is multi-signature and comes with trusted server verification and HD privacy. Its availability on different platforms and also as a Chrome extension is a very useful thing that has made it quite popular.
14. Mycelium is a very good Bitcoin wallet which is available on Android and iOS and comes with all the standard features like SPV verification, cold storage security, HD privacy, and is also open source but the only problem is that it is extremely simple and minimalistic, a fact which some users like and some do not.
15. Ledger is perhaps one of the most inexpensive of all hardware mobile wallets because it comes at only 29 dollars. It also comes with SPV verification, cold storage security, HD privacy, and is open source. It is also compatible with multiple wallet services.
16. Holy Transaction is a web-based Bitcoin wallet that has trusted service verification and cold storage security. It is, however, not open source but a unique feature that it carries is that it can support all kinds of crypto including Litecoin and Ethereum.
17. CoolWallet is a hardware Bitcoin wallet that is really attractive and comes with SPV verification, cold storage security, HD privacy and is open source. The gadget is shaped like any debit or credit card and also has NFC to send Bitcoins remotely.
18. Coinomi is an Android Bitcoin wallet that has trusted certification and cold storage security. It also comes with HD privacy and is open source, but these are not its unique features. What is exceptional in this service is that it supports ShapeShift integrated exchange and supports several Crypto like Litecoin and Dogecoin.
19. Arcbit is an iOS-only Bitcoin wallet that has trusted server verification and cold storage security. It is also open source and not only provides HD privacy but also stealth addresses. It can support multiple wallets and also has a very absorbing interface.
20. Jaxx is available for Android, iOS, and desktop and comes with SPV verification and HD privacy. It is open source and supports crypto like Bitcoin and Ethereum.
So, this is the compilation of Bitcoin wallets that are currently available in the market and are also performing quite well. If you want to get a Bitcoin wallet service, then you can sift through this whole list and then decide what is going to be perfect for your needs. Whatever may be the service you are using, it is advisable that you be careful at all times and not let go of your secure code or hardware wallet by any chance.