The best bitcoin wallet for storing Bitcoins is the ones that make it easy to use and store your coins. But what’s more, they need to be secure too. And finally, you want a Bitcoin Wallet with good customer service in case anything goes wrong. In this article, we will read about some of the most popular Bitcoin Wallets and help you choose one which is right for you.
1. Bitcoin Core
Bitcoin Core is a software-only wallet. This means that it doesn’t store your coins on the cloud or any external servers. It’s also open-source and free to download, which makes it great for security experts.
Electrum is a software wallet, which means your coins are stored on the cloud or external servers. But it also has added security features to ensure that you don’t lose access to your Bitcoin Wallets if anything goes wrong with the server or wallets themselves. It’s an open-source and free program for all major operating systems (Windows, Mac OS X, Linux).
Exodus is a desktop application that enables you to store Bitcoins securely offline. This makes it easy for people who aren’t tech-savvy but still want maximum protection from hackers and scammers out there trying to steal their coins. There is no need for any installation process so this one can be downloaded directly onto computers without difficulties while being compatible with all major operating systems.
Keep Key is a different type of Bitcoin hardware wallet which stores your coins on the device instead of in the cloud. It’s not an open-source program so you can’t have access to its code but it supports all major operating systems and has one of the best security features available for storing Bitcoins at this time – there are even reports that some people make millions by using these products! The downside, however, is that they’re quite expensive with prices starting from $100+ depending on what model you purchase.
5. Trezor Wallet (hardware)
Trezor Wallet (hardware) may be more expensive than other options but it’s also much easier to use allowing users who know nothing about Bitcoin to store their Bitcoins. You don’t need a computer with you – just plug the device into your USB port and enter in your passcode, then confirm that transaction through an on-screen prompt.
6. Ledger Wallet (hardware)
Ledger Wallet is another hardware wallet available for storing Bitcoins that also offers some of the best security features currently available such as two-factor authentication and easy recovery options if you forget or lose your PIN. It’s important to note that it doesn’t give users access to other cryptocurrencies but there are plans to expand its functionality soon so keep checking back!
7. Trezor Electrum Personal Server (software)
Trezor has recently released its server software called Trezor Electrum Personal Server which allows users to store their coins in a more secure environment. This, as with all hardware wallets is completely offline and can only be accessed by plugging the device into your computer via USB.
Factors to be considered to choose the best bitcoin wallet
- Price: The more expensive the wallet, the more security it is likely to have. Generally speaking, you get what you pay for.
- Usability/Ease of Use: Wallets that are particularly easy to use and intuitive can be great for beginners or people who don’t want to fuss around with a complicated setup process. They may not offer as much in terms of features like multi-currency support but they’re perfect if all you need is one address and private key pair for Bitcoin transactions. Examples would include Mycelium on mobile devices and Electrum Personal Server mentioned above which only supports Bitcoins – although there are plans underway about adding other cryptocurrencies soon so keep checking back!
- Multi-Currency Support (Shapeshift): If you want to store more than one currency, a wallet with multi-currency support is the way to go. These wallets will let you hold Bitcoin and other currencies such as Ethereum or Litecoin together in the same place.
- Security: You want the wallet to be as secure as possible. The best wallets will use two or more of the following security measures: password protection, encryption, and being an HD (hierarchical deterministic) Wallet.
- Backup and recovery phrase/seed words: It’s important that you backup your bitcoins in case something happens to your computer where they are stored. Typically this is done by choosing a strong password which then generates a random 24-word seed key for Bitcoin addresses on its own.