The best Bitcoin wallets make it simple to safeguard and manage your bitcoin, but sifting through the jargon and selecting the best choice can be difficult.
Simply said, once you’ve bought Bitcoin (BTC), Ether (ETH), or any other altcoin, you’ll need a secure storage facility to keep your funds. Using a wallet instead of an exchange to store your cryptocurrency provides you with more control over your digital assets.
In this article, we’ll look at the finest Bitcoin wallets on the market to help you pick the ideal platform for your needs. The ideal crypto wallet will be determined by your top priorities (accessibility, transaction privacy, multi-platform support, etc).
All of the crypto wallets on our list are non-custodial, which means you’ll have complete control over your private key (we recommend using a secure password manager), which is required for transactions. The majority of them are also designated as “hot wallets,” meaning they are always connected to the internet.
However, if you have a substantial quantity of Bitcoin, you should consider using a hardware wallet to keep your valuables safe. With that in mind, we’ve compiled a list of the top Bitcoin wallets available right now:
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1. Ledger Nano X
The Ledger Nano X is a high-end hardware bitcoin wallet that is designed to keep your digital assets safe. The Nano X stores your private keys offline, on the device itself, unlike hot wallets, which are connected to the internet and thus vulnerable to attack.
Ledger uses a custom-developed OS (BOLOS) and a CC EAL5+ certified Secure Element (SE) chip to ensure the hardware is as resilient as feasible. ANSSI, France’s national cybersecurity organization, has also assessed and validated the device’s security.
The Nano X has all of the functionality of its cheaper sister, the Ledger Nano S, plus the ability to hold a larger number of assets at once and manage your portfolio on the road by connecting the device through Bluetooth to the smartphone app. Because of the larger 100mAh battery, you can use this hardware wallet without needing to connect it to a power source when you’re out and about.
While the Nano X is primarily aimed at HODLers, with to agreements with crypto exchanges Coinify and Changelly, as well as the Defi protocol Compound, it’s also straightforward to add to your cryptocurrency portfolio and put your assets to use.
The Ledger Nano X is priced at $119. You can also buy a three-pack for $299, though there’s no reason you’d want to do this as a single user. The Model T from Trezor, which costs $170, may be the Nano X’s closest competitor.
The Ledger Nano S is a somewhat less advanced version of the Nano X that is just as secure but lacks the same networking features. The Nano S, which costs $59, may be a better solution for those who are concerned about securing their crypto but don’t want to spend a fortune.
When there are only two buttons available, there isn’t much that can go wrong when using the Ledger Nano X. The buttons are used to navigate left and right within menus while the gadget is turned on, and hitting both at the same time confirms your choices. However, this method can be difficult at times, particularly when returning to a prior menu, and we wished for a touchscreen or at the very least a third button.
When it comes to managing your crypto, the device must be connected to either the Ledger Live desktop or mobile application, using a USB-C to USB-A cable for the former and Bluetooth for the latter, via a USB-C to USB-A cable. All major operating systems, including Windows, macOS, Linux, Android, and iOS, have native clients.
Thanks to a basic design and clean interface, both the desktop and mobile applications are straightforward to use. The many functionalities are organized in self-explanatory tabs in the desktop sidebar and the mobile bottom navbar.
If the instructions are followed to the letter, connecting the Nano X to the Ledger Live apps is straightforward enough. For example, failing to write down your 24-word recovery phrase could spell disaster, but that’s all part of the deal when it comes to safeguarding crypto with a hardware wallet.
It’s simple to transfer and receive cryptocurrencies with the Nano X. Transactions may be set up and approved with only a few button clicks when the device is connected to the Ledger Live app.
A total of 1,800 distinct crypto assets are supported by the wallet. What makes the Nano X unique is the ability to buy cryptocurrency directly from the Ledger Live app, thanks to cooperation with Coinify.
You can avoid any transaction costs by acquiring cryptocurrency on an exchange and then triggering a transfer to your Ledger wallet this way. This is especially useful at the moment since Ethereum transaction fees are around $13.
Ledger Live also has some Defi capability, allowing you to both use and safeguard your crypto. You can lend Ethereum-compatible assets and earn interest as a reward for bringing liquidity to the network thanks to cooperation with lending protocol Compound.
Finally, the Swap option allows you to easily exchange one crypto asset for another (for example, Bitcoin for Ether), which is a convenient method to diversify your portfolio without having to switch back to fiat currency. However, in some areas, such as Japan and the United States, this feature is not available.
Meanwhile, Ledger Academy is a fully free resource aimed at helping beginners understand more about the arcane world of cryptocurrencies and the technology that underpins it, blockchain. If you can’t find what you need in the knowledge base or FAQs, you can utilize the website’s live chat option or create a ticket through the online contact form.
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2. Trezor Model T
SatoshiLabs’ Trezor is one of the oldest bitcoin hardware wallets available. The Trezor Model T, which was first announced in 2014, is the company’s top offering, geared for both HODLers and aggressive traders.
The Trezor Model T has all of the same functionality as the Trezor One, but it also supports newer cryptocurrencies and exchanges including XRP, Cardano, Monero, and others. Everything about the Trezor Model T is open source, from the hardware specifications to the software that runs it, which is a big bonus.
The Model T can handle numerous cryptocurrencies by default, but users can upgrade to a Bitcoin-only firmware that is designed to handle Bitcoin transactions solely. Exclusive security features include the Shamir Backup, which may create up to 16 shares that can be used to restore your crypto if something goes wrong with your device.
The presence of in-wallet exchanges is another useful feature. You may use them to buy cryptocurrency with fiat currency and convert cryptocurrency to cryptocurrency, all from within Trezor.
In terms of operating systems, the Trezor is compatible with Windows, macOS, and Linux, as well as Android via OTG. However, there is no support for iOS. To get the Trezor to interact with its browser-based Trezor Wallet software, you’ll need to employ one of the four documented techniques.
The Trezor Bridge is the best option. Once it’s installed, go to the Trezor Wallet website using one of the supported browsers, such as Chrome or Firefox.
The wallet website will guide you through the process of setting up the device and managing your cryptocurrency. Bitcoin, Bitcoin Cash, Bitcoin Gold, Litecoin, Dash, Zcash, Dogecoin, and Vertcoin are all supported natively. You’ll have to use a third-party wallet for everything else.
The app is simple to use and allows you to set up two-factor authentication using the Universal Second Factor (U2F) protocol. On approved services, the device can also be used as a FIDO2 security key.
You’ll be prompted to create a new wallet as soon as the Trezor is connected to the web-based wallet app. As always, establish a backup as soon as you create a new wallet and write down its recovery seed to ensure that it can be recovered. The procedure of sending and receiving crypto is simple.
To add an extra layer of security, go to the Receive tab and generate a receive address in the app, which you’ll have to confirm on the Trezor Model T.
You can also use the Trezor’s QR button to see the address’s QR code, which your sender can scan to start the transfer. Payment will be listed under the Transaction page as soon as it is received.
To transmit crypto, first type in the transaction’s destination address or scan the QR code of the recipient. If you want to make several transactions, the Trezor Wallet app lets you send funds to multiple recipients in one transaction, which will save you money on transaction costs.
The app will then display the approximate fiat equivalent of the amount of cryptocurrency you want to send. Low, economic, normal, and high transaction fees are all predefined in the program. You can select one of these options for your transaction or specify a custom fee.
Trezor provides a comprehensive wiki that includes a wealth of educational content about Bitcoin as well as information about the Trezor devices. There’s a comprehensive FAQ as well as step-by-step instructions to get consumers started with the hardware wallet. You can also use the troubleshooter tool to search the wiki for solutions to common problems.
The majority of the documentation in the help section is geared toward new users, although there is enough information for experienced users – and developers.
You can connect with the developers and other users on the r/Trezor subreddit, as well as on Twitter and Facebook, as with many other wallets. If the usual assistance channels are unsuccessful in resolving your problem, you can contact the support team by submitting a ticket.
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Exodus is a multi-currency wallet that can store more than a hundred different cryptocurrencies. The crypto wallet was previously only available on the desktop, but it is now also available on iOS and Android devices. Exodus stands itself from other wallets by focusing on those who have never used cryptocurrencies before.
It features a user-friendly interface, and its creators have spent a lot of time and effort improving it to make it more intuitive. Support for a variety of altcoins, as well as Bitcoin, is one of Exodus’ most popular features. You can also use the wallet to exchange cryptocurrency for cryptocurrency without having to register.
Exodus is a light wallet that uses Simplified Payment Verification, which means it doesn’t download entire blockchains and instead relies on a network of computers to keep track of wallet balances. Exodus is a cross-platform game that works on Windows, Mac OS X, and Linux.
You may just download and install the app to get started because it does not require registration. However, while the app’s makers claim that they take all reasonable precautions to guarantee that it is secure, it does not enable two-factor authentication and instead depends solely on a password.
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Exodus also doesn’t use a relatively new authentication system known as a multi-signature address, which obtains approvals from many devices before initiating any transfers, unlike some of its competitors. The UI is attractive and fairly intuitive once you’re inside the program.
This is quite an accomplishment, given that the software is supposed to provide both crypto exchange and portfolio management services, allowing you to store, manage, and trade cryptocurrencies from a single interface.
You can move through the app’s numerous functionalities using a handful of icons at the top of the UI. The Portfolio icon, for example, provides an overview of your cryptocurrencies as well as pertinent information like price movement in various time frames for various assets.
Then there’s the Wallet area, where you may transfer and receive any of the supported cryptocurrencies by QR code or wallet addresses. You can trade cryptocurrencies using the Exchange tab. The use of apps is a relatively new development. They’re similar to plugins in that they bring more features to the wallet, such as the ability to earn interest on your cryptocurrency.
An empty Exodus wallet isn’t locked by default. However, after you’ve deposited it in the wallet, the process of protecting it begins immediately. To receive cryptocurrencies, go to the Wallet tab and choose the cryptocurrency you’d like to receive.
If you’re interested, you can also check the price trend of the selected crypto on this page; otherwise, simply click and copy the receiving address for your wallet. You can also email this URL or snap a screenshot of the QR code, which the recipient can scan with their smartphone.
Exodus will prompt you to password secure your wallet as soon as you receive your first deposit. The software recommends utilizing a password manager app for this reason in its description and videos, which we believe is sound advice.
Exodus will also display a 12-word phrase that will aid in password recovery. Instead of saving this phrase on your computer, the creators recommend writing it down on a sheet of paper for offline storage.
The procedure for sending cryptocurrency from your Exodus wallet is very simple. Simply press the send button and type in the address of the public wallet to which you wish to send the cryptocurrency. Alternatively, you can hover over the QR code option to scan the receiver’s QR code using either the webcam or your screen.
Exodus’ large help section contains more information about the fees. The area has a large number of articles that are neatly organized under sections such as Getting Started, Buying Crypto, Exchange, and more. A search box is also available to assist you in finding information fast.
If your question isn’t answered, you can also submit a message to the customer service team. It’s vital to remember that Exodus does not offer telephone help, therefore whatever number you see online is almost certainly from a fraudster.
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Wasabi is a non-custodial and privacy-focused open-source Bitcoin wallet that runs on Windows, macOS, and Linux. The implementation of the trustless CoinJoin method is Wasabi’s standout feature. By mixing many coins from multiple persons into a single transaction, CoinJoin aids Wasabi in making individual Bitcoin transactions more safe.
CoinJoins can disguise identifying information by jumbling up the inputs and outputs, making it a popular choice for privacy-conscious users. Wasabi CoinJoins was even employed by the perpetrators behind last year’s Twitter attack, who used them to hide their transactions.
Wasabi, which is effectively a hot wallet, obfuscates transactions even more by routing them through the anonymizing Tor network, which hides the users’ IP addresses. One of Wasabi’s best features is that the majority of its privacy-protection measures are implemented behind the scenes.
Wasabi, for example, creates its own Tor connections and generates fresh addresses for each new transaction automatically.
When you first use Wasabi, you’ll be guided through a wizard to establish a new wallet, which includes selecting a unique name and password.
If you forget your password, the process will also produce a set of recovery words for you. Wasabi will download blocks containing your transactions (not the full blockchain) after it has constructed the wallet, which may take some time depending on the speed of your internet connection.
Wasabi includes a four-tab interface that lets you send and receive Bitcoin, do CoinJoin transactions, and keep track of your transactions. One intriguing feature is the option to hide all important information with a single click, preventing anyone from looking over your shoulder.
Wasabi also displays the individual Unspent Transaction Output (UTXO) and allows you to choose which ones you want to use in a transaction, unlike many of its competitors.
Seeing individual UTXOs may take some getting used to for new Wasabi users, but it doesn’t significantly affect the app’s usability.
To receive Bitcoin, you must first create an address by assigning it a label, such as the name of the person from whom you are receiving the transaction, which will aid in the identification of the transaction.
You can then give the generated address or show them the QR code, which they can scan with their wallet, to the person who wishes to transfer you Bitcoin. The address will no longer appear under the Receive tab after you’ve received the money, and you’ll have to generate a new one to receive more Bitcoin.
The UTXOs, together with their labels, will appear under the Send tab once the transaction has been validated. Wasabi includes coin management features, so you may use the checkbox next to the UTXOs to select which ones you want to transmit. Enter the receiver’s wallet address after selecting the UTXOs you want to send from.
Wasabi users may additionally modify transaction costs with a slider that shows the fee in both Bitcoin and fiat currencies, as well as the projected confirmation time. The longer the confirmation time, the lesser the fee.
Wasabi hides all the complexity of the process while sending money with the CoinJoin feature. For CoinJoin transactions, Wasabi charges a coordinator fee that is determined as a percentage of the anonymity set, which is the size of the group with which you are mixing your coins.
Wasabi has the advantage of being quite open about its pricing and detailing the full computation in its vast support documentation. The creators recommend that new users read the Wasabi docs to have a better understanding of the wallet’s features.
The “Explain Like I’m five” section will offer you an overview of the program as well as quick instruction. There are also separate chapters that go through all of the Wasabi wallet’s intricacies in great depth.
Wasabi’s documentation also includes several frequently asked questions (FAQs) about various elements of the program, such as installation and privacy. The devs can be reached via Twitter or the r/WasabiWallet subreddit.
The difference between hot and cold wallets
The main difference between a hot and cold wallet is that hot wallets are online, but cold wallets are not. Hot wallets make it simple to access and deal in digital assets. Offline wallets, on the other hand, keep signing keys on physically separated hardware devices that aren’t connected to the internet.
Because cryptocurrency is most susceptible when stored online, cold storage is preferred for long-term custody of big balances by everyone from long-term HODLers (crypto investors who buy and hold their positions regardless of price) to institutions that manage millions of dollars in assets.
This isn’t to argue that cold storage methods are without flaws. Cold wallet transactions take longer than their online counterparts. Furthermore, the physical medium is vulnerable to damage, as it may have physical flaws, internal software issues, or be stolen.