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Top 5 Bitcoin Wallets
In , I discussed the issue of Bitcoin liability protection within Bitcoins and other cryptourrencies. 5 years later Bitcoin Wallets are now mainstream.
Although the issue of liability still persists, the cryptocurrency / Bitcoin landscape has since fractured into different Bitcoin categories / cryptocurrency categories.
This article lists then top 5 bitcoin wallets in each of the categories.
Functional principle of a Bitcoin Wallet / Cryptocurreny Wallet
Bitcoins Wallets / Cryptocurrency Wallets are based on the address pair consisting of a public and a private key.
If you hold a private key, this makes you the owner of the corresponding Bitcoin / cryptocurrency that is stored on the address.
These key pairs are generally generated by the Wallet. For this reason, too, it is important to select the wallet with great care and to ensure that the private key is securely stored.
Categories of Bitcoin Wallets
1. Hot wallets
These Bitcoin / Cryptocurrency Wallets refer to those wallets that have permanent internet access or are located on devices with such access.
Most software wallets and wallet apps are accordingly included.
Also online exchanges like Coinbase or Bittrex that store your coins for you to use, of course Hot-wallets.
Hot wallets are generally more convenient because they are connected directly to the Internet and you usually do not have to worry about key management.
Risk element: Hot Wallets carry an inherent risk factor. In some cases, you do not have the private key yourself. In other cases, cyber attackers or hackers can gain access to the key and thus the wallet by exploiting security holes in the internet connection.
2. Special form online Bitcoin Wallets
As a form of hot wallet, online wallets only serve to store your crypto-coins.
As long as you have an internet connection, they are accessible. Typically, online wallets such as Blockchain .com are accessible via a regular Internet browser. Online wallets cannot be compared to a crypto exchange or an exchange office. Direct trading is not planned on online wallets. For this purpose, you would first have to transfer the corresponding amount to a trading account.
3. Cold Bitcoin Wallets
With cold wallets, the private keys are generated and managed offline.
This means that you can be relatively sure that only you know the private key and are therefore in possession of your crypto coins.
Cold crypto wallets include hardware wallets, the special form Cryptosteel and paper wallets.
Providers of dedicated hardware wallets with a big market share are are Ledger or Trezor.
Types and Differentiation of Bitcoin Wallets / Cryptocurreny Wallets
There are numerous subcategories within the hot wallet and cold wallet categories, including
- Software wallets
- Mobile wallets and wallet apps
- Online wallets
- Hardware wallets
- Paper wallets
These species each have their own specific properties, advantages and disadvantages. When choosing, you weigh up between comfort and security.
Top 5 Desktop-Only Bitcoin Wallets
What are Desktop-Only Bitcoin Wallets?
Desktop-Only Wallets are wallets that “save”, send and receive Bitcoins and other cryptocurrencies on the computer (Windows, Mac, Linux).
Desktop wallets manage their own bitcoins: they can be used to send and receive bitcoins and secure the private keys (i.e. make a backup). They contain a transaction history and an address book in which you can name specific addresses.
Desktop-Only Wallets come in 2 alternatives:
- Full-Node &#; It is up to you to send transactions to the Bitcoin network. Full nodes are important to maintain the integrity of the Bitcoin network. The disadvantage is that you have to download the entire blockchain and keep it up-to-date.
- SPV (Simple Payment Verification) &#; This is a lean version that leverages other full nodes to send the transactions.
List of Top 5 Desktop-Only Bitcoin Wallets
- Wasabi
- Electrum Bitcoin Wallet
- Atomic Wallet
- Bitcoin Core Client
- Multibit HD
1. Wasabi Bitcoin Wallet
Wasabi Bitcoin Wallet is a software-only digital wallet that allows you to securely store, monitor and manage your Bitcoins.
The Wasabi Bitcoin Wallet uses a validation through a private key that relies on a central server to facilitate communication anonymously across the Bitcoin Peer to Peer (P2P) network and Tor.
Unfortunately the Wasabi Wallet only supports Bitcoins.
Wasabi Bitcoin Wallet Pros:
- Very easy to use
- Easy to install
- Inexpensive with a transaction fee of %
- Data protection focused
- Uses Tor automatically
Wasabi Bitcoin Wallet Cons:
- You need a minimum transaction value of Bitcoin
- If you do an extreme investigation and in-depth analysis, you may find some traces of transactions
- An active Sybil attack can be carried out by the coordinator against certain coins.
- People often say that the Zero Link protocol is not fully ready for commercial use and every now and then some security holes pop up.
2. Electrum Bitcoin Wallet
Electrum is a fast wallet because that uses servers that index the Bitcoin blockchain and because it is a light wallet, it is not restricted by the Bitcoin network.
Electum offers the option of switching between servers and exporting your private keys and using them in other Bitcoin clients.
With the &#;Seed Recovery Phrases&#; in Electurm, you also have the option of getting back lost credit.
Electrum Bitcoin Wallet Pros:
- Ability to exercise control over private keys;
- Contact the development team and other users.
- the use of open source code modifications that allow you to create a wallet Electrum in Russian and other variants
- a wide range of versions of the app for different devices and platforms;
- the ability to use the client over VPN, Tor and other virtual tunnels.
Electrum Bitcoin Wallet Cons:
- Despite the fact that this Cryptocurrency wallet (Electrum) offers great opportunities to users, the disadvantages must also be mentioned:
- The creation of the Electrum wallet and its use requires the mandatory presence of a third party &#; this is due to a relatively simple verification system that requires the storage of personal and confidential data on third party servers on the Blockchain.
- The Electrum network servers do not always provide the optimal speed for processing transactions and may be too late to provide updated information.
3. Atomic Bitcoin Wallet
The Atomic Wallet is a universal wallet that allows the storage of Bitcoin, Ethereum, XRP and more than other coins and tokens. The wallet also offers a practical exchange function.
It has a very nice design and is a non-custodial wallet. In other words: Nobody except you has direct or indirect access to your private keys.
Atomic Bitcoin Wallet Pros:
- You hold the private keys
- It is a decentralized light wallet with side token acceptance with a user-friendly design
- You can add ERC20 tokens at any time
- It is integrated exchange functions via ShapeShift, Changely or Atomic Swaps
- Consistent fees when exchanging via Atomic Swaps (the lower for large sums)
- Integrated purchase function via Simplex
Atomic Bitcoin Wallet Cons:
- currently only a few coins can be exchanged
- certain security features are still missing
4. Bitcoin Core Client
Bitcoin Core Client is a Bitcoin client that connects and synchronizes users with the Bitcoin network. The software offers an integrated wallet so that Bitcoins can be sent and received.
Bitcoin Core Wallet Pros:
- Excellent security and anonymity
- Good reputation
- User-friendly interface
Bitcoin Core Wallet Cons:
- The Client occupies large space on the hard drive
5. Multibit HD Bitcoin Wallet
MultiBit HD offers a user interface that allows users to create HD Wallets and do all the &#;deterministic wallet&#; things.
It comes with Trezor support (which uses HD wallets internally).
Multibit HD Bitcoin Wallet Pros:
- It is faster compared to other Wallets
- It gives you the ability to create multiple wallets
Multibit HD Bitcoin Wallet Cons:
Top 5 Mobile-Only Bitcoin Wallets
What are Mobile-Only Bitcoin Wallets?
Mobile-Only Wallets are Wallets that can send, receive and manage Bitcoin and other Cryptocurrencies on the smartphone or tablet. Depending on the operating system, there are different wallet apps that hardly differ in their main functions.
Mobile-Only Bitcoin Wallets are foundationally structured to manage, receive, send and secure Bitcoins and other cryptocurrencies.
They have a backup mechanism in case you lose your device.
One notable feature that Mobile-Only Wallets is the use of QR Codes to send and receive payments.
Mobile-Only Wallets differ slightly in terms of the additional structural capabilities listed below:
- &#;HD&#; Wallet support &#; Hierarchical Deterministic means that every key that users use in the wallet is derived from an origin (known as a “seed”). For users this means that this seed (also the backup) is just a sequence of words. Any new public and private key pair that is needed can be derived from these words. Technically every transaction has a new Bitcoin address, all of which is generated from a &#;master seed&#; instead of using the address multiple times)
- Support for hardware wallets (Trezor, Ledger & Co)
- variable transaction fees (ideally depending on how many transactions are currently being made in the Bitcoin network so that the transaction is confirmed quickly)
- TOR support
- Possibility to read in paper wallets
List of Top 5 Mobile-Only Bitcoin Wallets
- Mycelium
- Xapo Wallet
- Breadwallet
- Edge
- CoinMe
1. Mycelium Bitcoin Wallet
Mycelium Bitcoin Wallet allows you to send, receive and hold your Bitcoin. It&#;s only available as a mobile app and falls under the hot wallet category.
Hot wallets are wallets that are always connected to the internet via a device. In this case it is a mobile device. Mycelium Wallet is available for both Android and iOS users.
Mycelium Wallet Pros:
- It has a high reputation
- It is a &#;hot&#; wallet and saves a lot of time
- It offers various types of accounts
- It connects to the Bitcoin network at high speeds
- It is compatible with most of the hardware wallets
Mycelium Wallet Cons:
- It has a mandatory BTC transaction fee
- It lacks notifications for incoming payments
2. Xapo Bitcoin Wallet
The Xapo Bitcoin Wallet is a web-based, versatile cryptocurrency wallet that now comes with a browser and mobile app versions. The Xapo Wallet is available as an Android and iOS.
The wallet only supports the digital currency Bitcoin . Accordingly, if you particularly like Bitcoin and want to buy any number of Bitcoins , then you can keep them safe afterwards. For this purpose, there is a Bitcoin Vault, a kind of safe, which uses additional security measures to ensure that your credit is safe.
Xapo Wallet Pros:
- It comes with a free intuitive secure vault for storing Bitcoins
- It has a Xapo Wallet and debit card that allows users to pay offline wherever the debit card is accepted
- It offers insurance for your Bitcoins in case of loss (through Global Meridian)
- The interface is beginner friendly
Xapo Wallet Cons:
- The debit card offered is very expensive
- The process of signing up for the account is very strict
3. Bread Bitcoin Wallet
Breadwallet was originally an iOS-based app and was recently developed for Android. User control via private keys and passcode support make the app not only secure but also very user-friendly.
Bread Bitcoin Wallet Pros:
- It is easy to install
- All your cash transactions are confidential
- It is very secure. If you your device you can restore your account on another device
- It is free to use
- Fingerprint security is available
- It has a &#;HD&#; (Hierarchical Deterministic&#;) feature
- It is open sourced
- You get to control your private keys
Bread Bitcoin Wallet Cons:
- It has no multi-signature feature
- There is no two-stage authentication
- It takes time to sync to the Bitcoin network
- It does not support altcoins
4. Edge Bitcoin Wallet
Edge is deliberately aimed at newcomers in terms of use and structure. An automatic back-up function automatically saves the most important configurations so that users are always well protected .
Edge Bitcoin Wallet Pros:
- It has an easy interface that appeals to all users including beginners
- It had advanced security features
- You can securly buy, trade and spend your coins within the app
Edge Bitcoin Wallet Cons:
- It is still limited on the number of coins
5. Coinme Bitcoin Wallet
Coinme was the first licensed bitcoin ATM network in America makes it easy to use your bitcoins for payments anywhere.
Coinme Bitcoin Wallet Pros:
- It has an easy interface that appeals to all users including
- You can securely buy, trade and spend your coins within the app
Coinme Bitcoin Wallet Cons:
- In comparison to other wallets, the security is midlevel
- The Coinme machines seem not to work as promised &#; coime must work on the teething problems tht are preventing more people to trust their machines
Top 5 Browser-Only Bitcoin Wallets
What are Browser-Only Bitcoin Wallets?
Browser-Only Bitcoin Wallet are online account with an external provider where Bitcoins and other cryptocurrencies can be stored.
They are also referred to as Web Wallets.
They have the advantage of anonymity against third-parties because withdrawals can be made to any Bitcoin address that is not yours.
Disadvantages of Browser-Only Bitcoin Wallets
- They are susceptible to phishing
- They are susceptible to malware on the browser
Browser-Only Hybrid versions have recently emerged where the user actually owns the private keys inside their wallet. However, they do have markedly significant limitations.
Limitations of “Hybrid” Browser-Only Bitcoin Wallets:
- They are inherently susceptible to malicious modified Java scripts which can result in compromise and abuse of trust leading to losses
- The user is ultimately responsible for backing up data. Exposure and wallet data loss are bound to occur when a user is not prudent
- Outdated browsers are still open to exploits. That means the user has no control over relatively large attacks.
- Keys generated from the browser might not always be strong enough because of lack of review. This ultimately exposes the user
List of Top 5 Browser-Only Bitcoin Wallets
- BitGo Cryptocurrency Wallet
- MyEtherWallet
- Metamask
- TrustWallet
- tallerembajador.com.mx
1. BitGo Wallet
BitGo Wallet offers flexible wallet security with multi-signature security and 3-key management.
A BitGo Key is used to co-sign all transactions initiated by the client through their on privately generated and stored keys.
BitGo offers both private and business account to cater to the two markets.
BitGo Wallet Pros:
- They work with reputable partner and cryptocurrency exchanges
- Their wallet security is one of the best
- Their multi-signature wallet provides maximum security
BitGo Wallet Cons:
- Their fees might be higher than what most people are willing to pay
- Ethereum and ERC20 support is only available for business wallets
2. MyEtherWallet
The wallet is stored in the browser and on your own computer and is not stored on MyEtherWallet&#;s servers. As with other wallets, access is via a personal access key (seed) which is unique and should be kept safe accordingly.
The tokens stored in the wallet are securely stored on the Blockchain and the assets can be managed conveniently via the MyEtherWalet access. MyEtherWallet automatically calculates the transaction fees that are distributed to the miners for creating the blocks. Since MyEtherWallet maps the entire Ethereum platform, all ERC20 tokens that were developed on the platform can be stored in the wallet.
MyEtherWallet Pros:
- Compatible with numerous hardware wallets
- Ether cards with near field communication in planning
- Exchange of cryptocurrencies by numerous third-party companies is possible
- Detailed &#;Help Center&#;
- Switching between different types of wallet (including HD wallet)
- Free to use
MyEtherWallet Cons:
- No 2-factor authentication
- There have been successful hacking attacks in the past
- Can be confusing for beginners
3. MetaMask Bitcoin Wallet
The MetaMask Wallet is minimalist, functional and offers convenient use of the Ethereum Blockchain.
The wallet is secure because it is a hierarchical deterministic (HD) platform. As a result, it is primarily up to the user to decide on how securely he uses the wallet.
With the &#;master seed&#; &#; a chain of phrases that you use for recovery &#; you can access your own MetaMask wallet currencies if you no longer have your own device on which you save the wallet.
MetaMask Bitcoin Wallet Pros:
- Easily usable as an add-on via Google Chrome, Opera, Firefox and Brave Browser
- Very popular wallet with a high reputation
- High security standards
- They offer a mobile version
- MetaMask Wallet transaction fees manually adjustable
MetaMask Bitcoin Wallet Cons:
- No mobile wallet currently available
- Previously exposed to security issues
4. TrustWallet / Binance wallet
The TrustWallet allows you to send, receive, store and track your e-money/stable coins & digital assets.
With the TrustWallet you can stote BNB, ERC20, ERC, ERC based tokens from ICO or airdrop
Trust Wallet has a full security audited system to send, receive and store multiple digital e-money and digital assets with complete control over your private keys. Protect your crypto funds with pin number and biometrics.
Trust Wallet’s server-free infrastructure ensures only you can access your e-money/cryptocurrency.
With TrusWallet, you can access cold storage wallet &#; Trezor, Ledger, KeepKey etc. &#; with Trust Wallet’s “watch” function without exposing your private key in a “view-only” mode while keeping keys in a safe and secure location.
TrustWallet / Binance Wallet Pros:
- Supports any Ethereum based token
- Wide range of supported tokens
- TrustWallet is a Non-custodial wallet
- Exchange features
- Compatible with both iOS and Android devices
TrustWallet / Binance Wallet Cons:
- TrustWallet does not have 2factor authentication
- Their support is very slow
5. tallerembajador.com.mx Wallet
tallerembajador.com.mx offers a web-based wallet system which lets users store Bitcoin and Ethereum.
It comes with a complex system of account login to ensure that only the coin owner has access to the wallet.
tallerembajador.com.mx Wallet Pros:
- It offers good security. Any login attempt triggers the sending of a secure link to the user’s email address which was used in creating the account. Consequently, the login process must be completed from that link.
- The wallet also works with an optional 2-factor authentication (2FA) system, which requires the use of software such as Google Authenticator to generate a one-time secure code for completing logins as well as crypto deposits and withdrawals.
- It generates a new public address every time, which significantly reduces the risk of address compromise.
tallerembajador.com.mx Wallet Cons:
- Their app has stability issues
Top 4 Mobile&Browser Wallets
- tallerembajador.com.mx DeFi Wallet
- Lumi
- Trust Wallet
- Luno
1. Lumi Bitcoin Wallet
Lumi Wallet is equipped with a built-in exchange that works with a wide range of cryptocurrency pairs. The exchange enables nearly instant crypto to crypto trades while allowing you to stay completely anonymous.
Lumi Bitcoin Wallet Pros:
- It had a &#;HD&#; (Hierarchical Deterministic) feature which helps with recovery should you lose your key
- The interface is very simple and user friendly
- The security feature are highly rated
- The private key remains private and never leaves the device
- It offers total anonymity because your personal information is never collected
- It also offers analytics for your usage
Limu Bitcoin Wallet Cons:
- It lacks two-way authentication
- It does not have multiple signature features
- It is not open source
2. Luno Bitcoin Wallet
Comes with an instant buy and sell feature that takes the complexity out of crypto trading. It gives you instant access to a range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and more.
Luno Bitcoin Wallet Pros:
- It has reliable security features such as two-factor authentication
- The interface is easy to use
- It supports fiat currencies such as ZAR, NGN and IDR
Luno Bitcoin Wallet Cons:
- It has a minimum and maximum transaction limit
- It charges close to 1% which is high
- The exchange only supports Bitcoin and Ethereum. You cannot buy or sell other cryptocurrencies through its exchange
3. Trust Wallet
Trust Wallet was a simple and decentralized multicoin wallet for the secure storage of ETH and Ethereum tokens,bitcoin, Tron, Tezos, XRP, Stellar Lumens and many other cryptocurrencies.
The decentralization of the wallet is supported by decentralized exchanges that are integrated into the app, including Binance DEX and Kyber Network.
Trust Wallet Pros:
- Supports many types of tokens from many popular blockchains. It supports more than , tokens from more than 50 different types of Blockchains.
- Users can use the token stored in the wallet to participate in many other activities, such as: B. in staking out, trading or in the Dapp games integrated in the wallet.
- The company currently owns Binance &#; this is the world&#;s leading large exchange. Therefore, Trust Wallet is very supported and developed by the Binance team. Users feel confident about security and support.
- They have just launched their own TWT token.
Trust Wallet Cons:
- It is one of the Bitcoin Wallets with almost no cons!
4. tallerembajador.com.mx DeFi Wallet
The tallerembajador.com.mx DeFi Wallet is a non-custodial wallet that allows users to safely store their crypto in a highly secure environment with their private keys.
You can send and receive up to 78 cryptocurrencies like Bitcoin(BTC), Ethereum(ETH), DeFi coins like Uniswap(UNI), Compound(COMP), tallerembajador.com.mxe(YFI), stablecoins and other ERC20 tokens. The tallerembajador.com.mx DeFi Wallet is available for both Android or iOS devices.
If you are using the tallerembajador.com.mx App, you can download and connect the tallerembajador.com.mx DeFi Wallet to easily access the diverse crypto financial services offered by tallerembajador.com.mx
tallerembajador.com.mx DeFi Wallet Pros:
- You have % control over your crypto and your private keys
- There is no identity verification which means there is no risk to your anonymity
tallerembajador.com.mx DeFi Wallet Cons:
- You need to pay transaction fees and wait for the transactions to be conformed
- If you lose your recovery phrase, you will not be able to access your wallet and crypto
- The tallerembajador.com.mx App is custodial
Top 3 Desktop&Mobile Wallets
1. Jaxx Bitcoin Wallet
Jaxx Wallet supports more than 65 currencies which include cryptocurrencies & ERC20 tokens.
Jaxx has integrated Shapeshift into it, which helps users convert one coin to another in the app itself.
Jaxx Wallet Pros:
• It can store a large amount of coins
• They have very good customer service
• It is available on almost all devices
• The usability is way better compared to other wallets
Jaxx Wallet Cons:
• The transaction fees apply for transactions with your coins.
2. Exodus Bitcoin Wallet
Exodus does not save the complete blockchain of all integrated cryptocurrencies such as Bitcoin, Ethereum etc. but only serves as an interface to the cryptocurrency networks. Only the keys (public & private key) are managed in the wallet.
A verification of the payments via the blockchain does not take place directly in the wallet, but Exodus is connected to the networks via various interfaces.
Exodus Wallet Pros:
• well suited for beginners
• intuitive interface
• good backup system
• good customer support
• many cryptocurrencies on offer
Exodus Wallet Cons:
• not open source
• more prone to hacking than hot wallets
• no additional security features
3. Atomic Bitcoin Wallet
Atomic Wallet is a custody-free solution for the secure storage and management of BTC, ETH, XLM, XRP, LTC and over other coins and tokens.
The crypto resources and functions are updated regularly. Private keys are securely encrypted on a user&#;s device so that one has full control over their funds.
Atomic Bitcoin Wallet Pros:
• You hold the private keys
• It is a decentralized light wallet with side token acceptance with a user-friendly design
• You can add ERC20 tokens at any time
• It is integrated exchange functions via ShapeShift, Changely or Atomic Swaps
• Consistent fees when exchanging via Atomic Swaps (the lower for large sums)
• Integrated purchase function via Simplex
Atomic Bitcoin Wallet Cons:
• currently only a few coins can be exchanged
• certain security features are still missing
Top 5 Hardware-Only Bitcoin Wallets
- Ledger Nano X
- Ledger Nano S
- BitBox02
- Trezor Model T
- Trezor Model One
1. Ledger Nano X
The Ledger Nano X is a Bluetooth enabled hardware wallet that stores your private keys in a highly isolated Secure Chip and locked by an 8-digit PIN code.
It comes with the Ledger Live app to help you configure, install application, create accounts and portfolios.
It allows you to back-up your account to a recovery sheet. You can then easily restore your account to any Ledger device.
With the Ledger Nano X, you get a Bitcoin Wallet to secure, own, buy and manage 27 coins & more than tokens from your connected smartphone or computer.
The Ledger Nano X offers a larger display and more memory than the Ledger Nano S and a wireless connection
Which Wallets does Ledger Nano X support?
- Aion Desktop Wallet
- Akroma Web Wallet
- Ark Desktop Wallet
- Binance
- CONex
- Cosmostation
- Elastos Light Wallet
- Electron Cash
- Electrum
- Elrond Wallet
- EnergyWeb Wallet
- Eterniy Base App
- Fairy Wallet
- Galleon
- Green Wallet
- Gui Wallet
- Hycon Desktop Wallet
- Kin Laboratory
- LBRY Vault
- Liskish
- Lunie
- Magnum Wallet
- MyAlgoWallet
- MyCrypto
- MyEtherWallet
- MyFactomWallet
- MyHbarWallet
- MyHPBWallet
- MyWanWallet
- NanoVault
- Neo Wallet
- Nimiq
- NIX-Electrum
- NOSwallet
- Owallet
- Particl-Qt
- Polkadot-JS
- QRL Wallet
- Rise web client
- SolFlare
- Starname-ledger
- Stellarterm
- TezBox
- Trinity
- Tronwallet
- Ubiq Wallet
- VeChain Sync
- tallerembajador.com.mxge
- Yoroi wallet
- Zillet
Ledger Nano X Pros:
- Bluetooth-capable, so it can be used with a mobile phone for the first time
- Display twice as large as Ledger Nano S
- more extensive memory to manage even more cryptocurrencies at the same time
Ledger Nano X Cons:
- A bit more expensive. It’s twice as expensive as the Ledger Nano S
2. Trezor Model T
With the Trezor Model T Wallet, you enter your sensitive data which includes the PIN via the touch screen.
Once you successfully authenticate, a connection is made via USB. Your private keys never leave the device and are therefore completely isolated from possible attacks.
The premium version from Trezor offers more memory and a touchscreen.
Which Wallets does Trezor Model T support?
- Adalite
- Binance Wallet
- tallerembajador.com.mx
- BTCP Electrum
- Chaintek
- Dash Electrum
- DMT
- Electrum
- Electrum-AXE
- Electrum-BELL
- Electrum-BTX
- Electrum-CPU
- Electrum-FTC
- ElectrumG
- Electrum-GAME
- Electrum-GRS
- Electrum-KOTO
- Electrum-MONA
- Electrum-MUE
- Electrum-NMC
- Electrum-RVN
- Electrum-SMART
- Electrum-SYS
- Electrum-VIPS
- Electrum-XPM
- Electrum-XRC
- Electrum-XZC
- Electrum-ZCR
- Electrum-ZNY
- Exodus
- HMT
- lectrum-UNO
- Liskish Wallet
- Magnun
- Mango Farm
- Monero CLI/GUI
- MyCrpto
- MyEtherWallet
- Nano Wallet
- NIX-Electrum
- Particl Core
- PolisPay
- Qtm-Electrum
- SimpeStaking
- SPMT
- Trezor Beta
- Vialectrum
- Wanchain Wallet
- Yoroi
- Zephyr
- Znode tool
Trezor Model T Pros:
- more extensive memory to manage even more cryptocurrencies at the same time
- supports more cryptocurrencies than the Trezor One
- Firmware is loaded onto the device during setup
Trezor Model T Cons:
- Known security vulnerability with physical access to the device and an extra password not set
3. BitBox02
With the BitBox02 you get a second-generation BitBox hardware to secure your digital assets. It supports Bitcoin, Litecoin, Ethereum and ERC tokens.
Your backups are automatically saved onto a complimentary microSD card and the BIP mnemonic seed can optionally be displayed to copy to paper.
It can also be used as a second factor authenticator (FIDO compliant U2F) to secure your accounts on Google, Facebook, Dropbox, GitHub and more.
The BitBox02 is also available as a Bitcoin-only version (same price)
Which Wallets does BitBox02 support?
- BitBoxApp
- Electrum
- MyEtherWallet
BitBox02 Pros:
- high quality
- password-dependent different wallets for &#; credible deniability &#;
- Display and touch operation
BitBox02 Cons:
- few supported cryptocurrencies (advantage and disadvantage)
4. Ledger Nano S
With the Ledger Nano S you can securely and conveniently send and receive digital assets.
The Ledger Nano S is connected into a computer and managed through the ledger Live companion app.
Your data is stored inside a strongly isolated secure chip, and locked by an 8 digit PIN code.
The affordable hardware wallet offers users everything they need for long-term storage of Bitcoin, Ethereum & Co.
Which Wallets does Ledger Nano S support?
- Aion Desktop Wallet
- Akroma Web Wallet
- Ark Desktop Wallet
- Binance
- CONex
- Cosmostation
- Elastos Light Wallet
- Electron Cash
- Electrum
- Elrond Wallet
- EnergyWeb Wallet
- Eterniy Base App
- Fairy Wallet
- Galleon
- Green Wallet
- Gui Wallet
- Hycon Desktop Wallet
- Kin Laboratory
- LBRY Vault
- Liskish
- Lunie
- Magnum Wallet
- MyAlgoWallet
- MyCrypto
- MyEtherWallet
- MyFactomWallet
- MyHbarWallet
- MyHPBWallet
- MyWanWallet
- NanoVault
- Neo Wallet
- Nimiq
- NIX-Electrum
- NOSwallet
- Owallet
- Particl-Qt
- Polkadot-JS
- QRL Wallet
- Rise web client
- SolFlare
- Starname-ledger
- Stellarterm
- TezBox
- Trinity
- Tronwallet
- Ubiq Wallet
- VeChain Sync
- tallerembajador.com.mxge
- Yoroi wallet
- Zillet
Ledger Nano S Pros:
- large selection of compatible cryptocurrencies
- cheapest recommended hardware wallet
- proven security
Ledger Nano S Cons:
- only a few cryptocurrencies can be managed at the same time
5. Trezor One
With the Trezor One Wallet, you can save your crypto currencies and passwords on a hardware wallet where your private keys never leave the hardware wallet.
The inbuilt cryptographic algorithms offer you long-term, safe and professional storage for various cryptocurrencies such as Bitcoin, Dash, Litecoin Zcash and Ether.
The compact hardware wallet offers all the important features and a large screen at a good price.
Which Wallets does Trezor One support?
- Adalite
- Binance Wallet
- tallerembajador.com.mx
- BTCP Electrum
- Chaintek
- Dash Electrum
- DMT
- Electrum
- Electrum-AXE
- Electrum-BELL
- Electrum-BTX
- Electrum-CPU
- Electrum-FTC
- ElectrumG
- Electrum-GAME
- Electrum-GRS
- Electrum-KOTO
- Electrum-MONA
- Electrum-MUE
- Electrum-NMC
- Electrum-RVN
- Electrum-SMART
- Electrum-SYS
- Electrum-VIPS
- Electrum-XPM
- Electrum-XRC
- Electrum-XZC
- Electrum-ZCR
- Electrum-ZNY
- Exodus
- HMT
- lectrum-UNO
- Liskish Wallet
- Magnun
- Mango Farm
- Monero CLI/GUI
- MyCrpto
- MyEtherWallet
- Nano Wallet
- NIX-Electrum
- Particl Core
- PolisPay
- Qtm-Electrum
- SimpeStaking
- SPMT
- Trezor Beta
- Vialectrum
- Wanchain Wallet
- Yoroi
- Zephyr
- Znode tool
Trezor One Pros:
- relatively cheap with good comfort
- on the market for a long time, proven security
- larger display than comparable Ledger Nano S.
Trezor One Cons:
- Known security vulnerability with physical access to the device and an extra password not set
Frequently Asked Questions about Bitcoin Wallets and other Crypto Wallets
What is a Bitcoin Wallet?
Who Bitcoin or others Cryptocurrencieswant to buy, you first need a suitable wallet. The wallet works much like a real wallet. Unlike a real wallet, however, no coins are placed in the wallet, because Bitcoin is a digital currency. For this reason, it is a purely digital wallet.
Wallets are also known outside of the world of Bitcoin & Co. and are sometimes referred to as cyber wallets or e-wallets. This enables digital goods to be paid for on various electronic platforms. The same applies to the wallet for cryptocurrencies. If you want to buy something with Bitcoin, you pay from your wallet.
However, the analogy ends at this point. It is not right that the coins themselves are stored in the wallet. In fact, the user only saves the keys or private keys that are required for issuing coins. The cryptocurrency (e.g. Bitcoin) will continue to be used in the Blockchain stored and not in the wallet. In this sense, the wallet is a kind of digital keychain to which all the keys for the transactions are attached. Colloquially, however, it can be said that coins are stored in the wallet.
How does a Bitcoin wallet work?
With Bitcoin, factors such as transparency and the traceability of transactions play an important role. Each wallet is therefore assigned a specific character string or the wallet actually only consists of such a character string. Each of these strings is unique. This means that there are no two wallets with the same character string. This makes it possible to clearly distinguish the various wallets from one another at any time. The credit is then stored in the wallet.
Basically, everyone has an insight into how much credit is stored in a wallet. So if someone knows the character string of a wallet, he can see its credit balance at any time. However, the wallets are anonymous. So it is not clear to whom the wallet belongs. Personal data is not stored in connection with the wallet. Furthermore, the wallet is protected with a password. So it is not enough to know the character string in order to be able to access a wallet and its credit.
In principle, anyone can buy as many wallets for Bitcoin as they want. This is just like a real wallet, which everyone can carry around as many as they like.
The public key or public key is the destination address of an account. This key must be public so that you can, for example, receive payments from other users. They must know the public key for this. However, it is only possible to actually spend the Bitcoin stored on the public key with the private key or the private key. The private key is the one that is stored in the wallet. It is therefore of the greatest importance that the private key does not get lost under any circumstances. If the legitimate owner loses his private key, he no longer has control over the money in the wallet.
What types of wallets are there?
Wallets can basically be divided into software and hardware variants. A software wallet can take very different forms. The web wallet, for example, is popular. The user of an Exchange for cryptocurrencies receives an address linked to his account, via which trading orders can be executed. However, this form of wallet can be problematic in the event that an exchange is hacked.
Then unauthorized persons could gain access to your own coins. Mobile wallets are also popular and widespread. These exist in the form of an app on the smartphone. The advantage here is that the wallet is with you everywhere on the go. The desktop wallet works similarly, but here the software is installed on the PC. The advantage of the desktop wallet is the larger range of functions of the software compared to an app. With the desktop wallet, for example, you can easily create new addresses and thus duplicate the wallets.
If you want a particularly secure wallet, you should take a look at the hardware wallets. These wallets are stored on a USB stick or on another portable storage medium. The private keys are then on the stick and all transactions carried out via the wallet are saved. The decisive advantage of this variant can be seen in the offline storage. As long as the stick is not connected to an internet-enabled computer device, nobody can access it.
Are my Bitcoin safe in the wallet?
Anyone who uses a wallet naturally wonders how safe their money is in it. After all, the coins can reach a high price and the wallet can have a high value accordingly. Anyone who values the highest level of security should opt for a hardware wallet. If the storage medium is not connected to a computer, there is basically no access for Hacker Exodus. If, on the other hand, you use the wallet of an exchange, the problem arises that the private key is often stored on the provider&#;s side.
So here it comes down to safe and reputable providers who have not had security scandals in the past. In addition, it must be ensured that the private key does not get lost under any circumstances. In any case, a long and very securely structured password must be selected for the wallet. Access to the wallet via the browser is generally considered to be somewhat less secure; access via the smartphone or PC is more secure. If you use a wallet for Bitcoin and other cryptocurrencies, it should be a must.
In principle, it is not possible to send or receive coins without the private keys. This also means that the private keys must never be lost. If the keys are saved on the smartphone or PC, for example, and the corresponding device is lost, the coins are also gone. However, there is often a kind of “recovery phrase”with which the wallet can be restored. Personal responsibility for the secure management of crypto currencies such as Bitcoin therefore plays an important role.
What is the difference between Coins and ERC20 Tokens?
ERC is a technical standard used for all smart contracts on the Ethereum blockchain for token implementation and provides a list of rules that all Ethereum-based tokens must follow.
ERC is similar, in some respects, to bitcoin, Litecoin, and any other cryptocurrency; ERC tokens are blockchain-based assets that have value and can be sent and received.
The primary difference is that instead of running on their own blockchain, ERC tokens are issued on the Ethereum network.
Do I own the Bitcoins if I use a Mobile Bitcoin App?
The answer is a bit tricky. Mobile Bitcoin Wallets are installed on your smartphone. However, if it is a “custodial wallet”, you essentially trust the &#;custodian&#; to store and &#;keep your private key secure&#;. Good news is; if the private key is password protected, that means the private key should have been encrypted behind the password.
2 things to remember about Mobile Bitcoin Wallets
- Even though the Wallet is installed on YOUR smartphone and holds Bitcoin it does does NOT mean it is not custodial. Best example is the Coinbase app. It is % custodial! Coinbase controls your coins. When choosing a Mobile Bitcoin Wallet, make sure the app lets you store your own private keys.
- Not all Mobile Bitcoin Wallets guarantee safety for your coins. Make sure you have properly backed up your mobile wallet and never hold too many coins on a
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