Bitcoin is the most talked term on the internet at the moment. By the end of 2017, Bitcoin broke all the price benchmarks and it closed near $20,000. The cryptocurrency storm has spread now and it’s not coming to an end anytime soon.
If you look around, you will find almost everyone invested in Bitcoin. Everyone from the school kids to our grandparents is talking about Bitcoin nowadays. Bitcoin’s interest has sparked among the people who never took interest in anything even close to the FIAT currencies.
If you have already got Bitcoin or you are planning to get it soon, you will come across the use of exchanges. Exchanges are used to get Bitcoin or trade it for other currencies. After using an exchange, you should not leave the Bitcoin on the exchange. If you haven’t already moved it, you might be putting your hard earned money at stake.
It’s very common for exchanges to get hacked. Exchanges easily get hacked because of the loopholes in their code or in one of the cryptocurrencies listed on them. Mt. Gox hack is the most popular hack in the history of Bitcoin. Over 850,000 Bitcoins were stolen from the exchange. As a result, Bitcoin crashed and it took 3 years for Bitcoin to recover again.
So, leaving your money on exchanges is very risky. It’s always recommended to store your Bitcoins in a wallet. There’s a number of Bitcoin wallets out there. The wallets include hardware wallets, desktop wallets, web wallets and paper wallets as well.
When you try to pick up a wallet, the variety of wallets out there might get you confused. In order to help you with the choice, I have made this list of best bitcoin wallets. The best bitcoin wallets listed in this post are the most secure and the updated wallets for the month of February 2018.
Have a look at the best bitcoin wallets and store your wallets in the one that seems the most reliable to you.
Best Bitcoin Wallets
Ledger Nano S (Hardware Wallet)
Ledger Nano S is the most popular hardware wallet. Apart from storing Bitcoin, it can store 100s of different cryptocurrencies. Ledger Nano S is undoubtedly the most secure wallet. Here’s why.
- Ledger Nano S is the most popular hardware wallet.
- Ledger Nano S is a separate device that you connect to your computer to store your Bitcoins.
- Once you disconnect the wallet from your computer, it becomes cold storage. It’s no longer accessible by anyone.
- The USB device does not have any battery in it. It just turns on when you plug in its cable.
- The device comes with a little screen to help you interact with it.
- This wallet comes with an extra layer of security to keep your funds secure.
- In cryptocurrencies, the private key is the most important factor to manage your funds. The private of the Ledger Nano S wallet never goes out of it.
- Ledger Nano S supports MyEtherWallet, Neon Wallet and Ripple Wallet as well. That means all currencies store in MEW, Neo Wallet and XRP Wallet can be stored in Ledger Nano S as well.
Trezor Wallet is same to the Ledger Nano S. Trezor’s device looks like a small mobile phone rather than like a USB stick. Trezor Wallet is, in fact, more beautiful and easy to use. Trezor also supports a number of cryptocurrencies just like Ledger.
The private key of Trezor also doesn’t leave the wallet. The funds stay extremely safe and secure on the Trezor Wallet. Trezor also supports MyEtherWallet. It does not currently support Neo or Neon Wallet. Here are all the cryptocurrencies supported by Trezor.
Mycelium is also among the most popular Bitcoin wallets. This s a wallet available for Android and iOS ecosystems.
Mycelium is a hot wallet. This means that your wallet will be connected to the internet whenever you go online. It’s more like a hot and cold wallet.
Mycelium uses a seed phrase and a private key to lock down your funds in it. Once you set up your wallet, you should save your seed phrase and private key somewhere you will not lose it from.
Mycelium has a very stylish user-interface. It’s very easy to navigate through its Android or iOS application. Mycelium is also one of the most smooth wallets out there.
Electrum is another wallet for storing your Bitcoin. Electrum is available for Windows, Mac OSX, Linux and Android operating systems.
Electrum also uses a seed phrase and a private key to secure your funds. It’s a very fast wallet since its servers a decentralised. Your key and seed phrase is not stored on the Electrum server. Only you are responsible for it.
Electrum also acts as a hot and cold storage wallet. You can transfer your funds to a cold storage and then use Electrum just to view your funds.
Jaxx is yet another useful wallet for storing Bitcoin and 13 other cryptocurrencies. Jaxx is available for almost all the popular operating systems. It has an Android and iOS application. There is a Jaxx client for Windows, OS X and Linux. Jaxx has a Chrome extension as well if you like controlling your funds using a browser for that matter.
Jaxx does not ask you for any kind of registration. You just open the wallet, generate a new wallet for yourself and get your seed phrase along with the private key. You are only responsible for storing your seed phrase and private key. These are not stored on the Jaxx servers.
If you like to trade your cryptocurrencies for other currencies, you can exchange them with the ones available on Jaxx within inthe wallet.
Exodus is a desktop client to store Bitcoin and some other cryptocurrencies. It comes with the shapeshift integration which means you can exchange the cryptocurrencies within the wallet.
Exodus also uses a seed phrase to backup your wallet. If you create a seed phrase backup, it asks you for your email to send you a recovery link. The recovery link then requires you to enter your password in order to recover the wallet.
Exodus is popular for its UI. The UI is very colourful and easy to use. The pie-chart in the middle is an attraction while it shows your portfolio.
Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dogecoin, Dash, Golem and Augur are a few cryptocurrencies that this wallet currently supports.
That’s all. I hope that you find this list of Best Bitcoin Wallets helpful. If you have anything to add to this list, drop it in the comments section below.