You have probably heard of Bitcoin.
I am also quite certain that some of your bitcoins might be in your possession! !
But where do you keep those bitcoins?
Bitcoin exchanges such as Binance, BitMEX or hosted Bitcoin wallets like Coinbase and CEX
If you answered yes, then your ownership of bitcoins is at serious risk. !
These services will keep your Bitcoin private keys in their custody. This is not a secure practice as your Bitcoin private keys are the only way to access your bitcoins.
This guide will help you to understand private keys and how to hack MtGox.
Now the question is: Where should you store your bitcoins?
Coinsutra doesn’t publish anything we haven’t personally used.
A reliable Bitcoin wallet should be chosen based on the following criteria:
Private keys can be controlled – This wallet is compatible with different operating systems.
Let’s now see the 5 top Bitcoin wallets.
The Best Bitcoin Wallets (Hardware, Mobile & Desktop)
1. Ledger Nano X
A French start-up, Ledger Nano X has created a hardware wallet called the Ledger Nano X. This wallet is the most functional and modern Bitcoin wallet you can buy in 2021. This hardware wallet is compatible with both desktop and mobile devices and has an integrated battery.
It has 2 chips, one for the secure part. This ensures that your private keys are never exposed to the outside world.
Ledger Nano X allows you to store over 100+ cryptocurrencies. You can also use it to login to many exchanges using Ledger Nano X.
Ledger Nano X supports the following coins:
BitcoinEthereumLitecoinRipple (XRP)Binance chain (BNB)DashCardona (ADA)USDTTronMonero (XMR)All ERC 20 TokenTerraPolkadotSolana
This is the best option you have. This hardware wallet costs $119 and comes with free shipping
Order Ledger Nano X for Free Delivery
2. Ledger Nano S
This is an early version of Ledger nano X. It acts as a USB drive and can be connected to any USB port. It does not have a battery, and it only turns on when it is plugged in to a computer or mobile device.
The Ledger does not come with an anti-tampering sticker. Its cryptographic process checks for integrity when it is powered on.
The OLED screen is included, as well as two buttons to confirm transactions.
To protect your wallet, set up your pin code when you create your Nano S. Keep your 24-word recovery phrase in a safe place. You can use this recovery phrase anytime to recover your bitcoins.
This wallet stores your private keys offline so that you don’t have to worry about your coins being safe.
Nano S is also the most affordable multi-currency hardware wallet (90).
The Ledger NanoS wallet supports these major cryptocurrencies:
Bitcoin (BTC)Bitcoin Cash (BCC)Ethereum (ETH)Ethereum Classic (ETC)Litecoin (LTC)Dash (DASH)Dogecoin (DOGE)Zcash (ZEC)Ripple (XRP)Stratis (STRAT)Komodo (KMD)PoSWARKUbiqExpanse (EXP)PIVXVertcoinViacoinStealthcoin (XST)NEO (Works with NEON Wallet and supports GAS too)Bitcoin Gold & more…
It is also multi-currency and allows you to store/manage over 700 coins as well as ERC20 tokens in one place. You can also see the complete list of supported cryptocurrencies here.
You can also check out other supported currencies on Ledger: Which Cryptocurrencies are Supported by The Ledger Wallet
Order Ledger Nano Now
When you have many bitcoins or other altcoins, a hardware wallet is a must.
This video is from Coinsutra’s YouTube channel and explains how to set-up your Ledger Nano S.
3. Atomic Wallet
Atomic Wallet supports more than 300 tokens and coins. It is a multicurrency custody-free wallet. This wallet is the first to offer cross-chain decentralized atomic swaps. With no intermediaries, users can exchange Bitcoin, Litecoin and QTUM. Atomic Wallet’s team plans to make it possible for users to swap Ethereum.
Atomic Wallet also offers a regular exchange service for a variety of cryptocurrencies and the option to purchase XRP with a bankcard.
These features are all well-designed in one simple interface. It’s not necessary to register or verify your identity. Just download the wallet and install it. Atomic can be used on many desktop operating systems including Windows-64 bit and macOS. Linux, etc. will also be available for Android devices and iOS.
Atomic, like other non-custodial wallets generates a unique mnemonic key for your wallet and embeds your private keys. Atomic will not send you an email with the seed, so you need to write it down.
Private keys import is supported by the wallet. You can transfer your funds from any other wallet to Atomic with just a few clicks.
Atomic Wallet offers an interface for custom tokens. Anyone can import a smart contact address to add custom tokens. This is a very convenient option for ICO campaigns.
Concerning the former, Atomic plans to release its ERC20 token before the end of 2018, and is currently running a bounty program in which everyone can participate before the public sales.
Atomic Wallet is a unique cryptocurrency project. You can manage over 300+ tokens, buy and exchange them, participate in the bounty, and get access to custom tokens. All of these functions are done in a non-custodial way.
Atomic BTC wallet available for download
Trezor, which is presented by SatoshiLabs (a Czech Republic-based company), is the first Bitcoin hardware wallet.
This small device has an OLED screen and connects via USB to your phone or personal computer. It’s primary purpose is to sign transactions and store private keys offline.
The Ledger Nano S’s initial setup is slightly different.
Trezor displays a nine-digit pincode on its OLED screen when it first connects to your computer. Click on the appropriate PC screen to enter the same pin code. This code is randomly generated every time Trezor is connected. It ensures that no tampered computer can get your pin.
After you have entered the pin, you will need to enter your 24-word recovery key. You must keep your recovery key safe as this is how you can restore your bitcoins.
The Nano S can be used as a replacement.
Trezor now supports many different cryptocurrencies
BTC – BitcoinETH/ETC Ethereum/Ethereum classicNMC – NamecoinLTC DogecoinZEC ZcashDASH Dash
Update: Trezor now supports more than 600 cryptocurrencies/tokens for more details read: Which Cryptocoins Does Trezor Hardware Wallet Support?
Trezor can also be used with apps like TREZOR Wallet or Mycelium.
It’s available for Windows (version 7 or higher), OS X (10.8 and higher), as well as Linux. It can be used with Android devices as well.
It’s available in three colors: black, gray, or white and it costs $110.
Buy Trezor Now
Exodus is a desktop-only wallet that was created by JP Richardson in mid-2015.
It is the first multi-cryptocurrency desktop bank.
Exodus.io is clear evidence that Exodus.io has put a lot of effort into providing a great user experience.
Exodus does not have any hosted servers or logs so you can safely store your bitcoins. It currently supports cryptocurrencies such as Bitcoin, Ethereum and Litecoin.
Exodus is free to use without requiring registration or verification of identity. However, you will need to make a backup copy of your seed key.
You will need a password to be able to access your funds and spend them.
It will take a backup of the seed key and ask for your email id to send you a link recovery feature. This email link can be used along with your password in order to restore your Exodus wallet.
One thing to keep in mind when using Exodus: You can only backup the seed key if you have enough balance in your wallet.
This wallet is very easy to use. The pie-chart in the middle shows all your token portfolio in one place. It is very user-friendly.
Exodus is the first desktop wallet with ShapeShift integrated for cryptocurrency exchange.
You can also get support via email from the founders if you have any questions.
It’s available for Mac, Linux, and Windows.
Get Exodus wallet
6. Trust your wallet
Trust Wallet, the world’s most trusted multi-asset digital wallet, stores bitcoins and other altcoins.
It supports 13crypto coins at the moment and is an excellent choice for multi-cryptocurrency enthusiasts.
It’s very reliable, thanks to an active development team that works at lightning speed. Altcoins like Binance, Monero Tether, Ripple and Tether are all on their development roadmap.
Trust Wallet offers a simple, seamless, and frictionless UI. Trust Wallet does not require email verifications or onboarding. You can use it immediately without any usernames/passwords.
This HD wallet comes with a seed backup feature. This seed key allows you to control and restore your crypto assets in the event that your device is lost or damaged.
You can export your private keys and import altcoins or bitcoins from paper wallets.
It’s available on Android and iOS.
Download Trust Wallet
Guarda is my favorite Bitcoin wallet.
It is an open-source, well-established Bitcoin wallet that has an active developer community that is constantly innovating.
It is an easy way to store bitcoins.
Guarda’s UI is very user-friendly, especially if you are new to Bitcoin.
You also have full control over your Bitcoin private keys and can import it whenever you need.
Guarda is a non HD wallet that provides you with a 12-word backup key. You should keep this key safe and remember to write it down. This backup seed key allows you to retrieve your bitcoins in the event of damage or loss.
Guarda can be used with Ledger Nano wallets.
Guarda is available across all platforms.
Remember: If you lose these 12 words, your bitcoins will be lost.
Guarda Wallet Download
8. Best Bitcoin Lightning Network wallet
It is essential to have a Lightning network-supported Bitcoin wallet. You can use services such as Bitrefill and Paywithmoon without being restricted by the high network fees associated with Bitcoin network.
These are the top Bitcoin lightning network wallets.
Breez wallet (iOS, Android) Muun wallet (iOS, Android) – RecommendedBlue wallet (iOS, Android)
Crypto Wallets – The Best Ways to Store Bitcoin
Name of Crypto WalletTypes Of WalletRatingLedger Nano XHardware Wallet10/10TrezorHardware Wallet9.5/10ExodusDesktop Wallet8/10Trust WalletMobile Wallet9/10Guarda walletMobile Wallet9/10Muun WalletMobile Wallet (Lightning compatible)9/10
It is important to keep Bitcoin safe from exchanges. You could lose all your coins instantly if you do not do this.
You have many options for online and offline wallets.
An example will help you understand what Bitcoin Wallets are.
You have your email address based on which service you are using like firstname.lastname@example.org.
This is a public address, i.e. It is public and can be seen by everyone. You can also share it with others to receive emails. You can also use a software/service such as Gmail or Hotmail to send and receive your mail.
You will need a password in order to log into your email service and send mail to other email IDs (public addresses) Your password is private and confidential for your use, and theirs is private and confidential for their use.
And the software/service understands both the public address email@example.com) and your password (private address) to successfully log you in and send/receive/store emails.
Similarly, for sending/receiving/storing bitcoins, we require a wallet on the Bitcoin network, which is nothing but a place that stores our public address (a place to receive bitcoins) and a private address (to send/spend bitcoins).
A Bitcoin wallet is simply the location where you can store your bitcoin address and private key to send/spend them bitcoins. A wallet, which is also known as a digital file, stores your bitcoins.
Bitcoin Address + PrivateKey = Bitcoin Wallet
What types of Bitcoin wallets are available on the market?
Different types of Bitcoin wallets:
There are many Bitcoin wallets on the market. I have categorized them according to certain criteria, such as online connectivity, custodianship and device availability.
Hardware Bitcoin Wallets (aka: Cold Storage)
Because they are kept in an offline environment, this is the best and most secure way to store bitcoins.
As of the writing of this article, there have been no reports of theft or loss of bitcoins stored in a hardware wallet. These wallets contain the private keys and digital signatures needed to spend bitcoins.
In the next articles, I’ll explain Bitcoin private keys…
Ledger Nano XTrezorSafepal
Mobile Bitcoin Wallets
Mobile wallets are bitcoin wallet apps that can be installed on mobile phones. Compatible wallets exist for every mobile operating system (iOS, Android, Windows and Blackberry).
Below are the different Bitcoin mobile wallets as well as each mobile OS compatibility. TrustWallet is the one I use most on my Android phone. They are very safe and have many security features. There are also many other mobile wallets available that can be used with your smartphone’s operating system.
Bitcoin iOS Wallets
Desktop Bitcoin Wallets
Desktop wallets can be used to store Bitcoin on different desktops and are compatible with Windows, Mac and Linux.
Here are a variety of Bitcoin desktop wallets that work with all operating systems.
Bitcoin Desktop WalletsExodusJaxxElectrumArmoryCopayBitcoin Core
Web Bitcoin Wallets (aka Hot/Online/Hosted Bitcoin Wallets).
Web-based Bitcoin wallets are web services that are accessible via web/internet browsers like Firefox, Google Chrome, and IE.
These wallets hold the private keys online. These keys can be accessed via an internet address like https://xyz.com
These are also known as “hosted wallets”, because your bitcoins are stored on the servers of an agency you choose to use for your online wallet.
Cold Storage Wallets – Paper Bitcoin Wallets
A paper wallet is a piece made of paper that has a public and private address.
To send bitcoins, you can use the public address. The paper can be saved as it contains the private key, which can be used for transferring/spending bitcoins. You can also sweep the Bitcoin paper wallet to another wallet.
The keys are not accessible, but printed by the owner and secured by him. There is no risk of electronic damage to bitcoins, unless they are lost.
Learn more: Bitcoin paper wallet
Bitcoin wallets that are based on connectivity
Hot Bitcoin Wallets Online
Hot wallets are wallets that store bitcoins online and are connected to the internet 24/7 are known as hot wallets. These hot wallets are Bitcoin platforms that allow users to receive and withdraw bitcoins. These wallets are similar to the one you keep in your pocket.
Your bitcoins, like a bank cashier who left the money in the vault behind but kept it on their desk, are constantly at risk when they are connected online.
Cold Bitcoin Wallets Offline
You must have guessed that bitcoins offline on hard drives, USB drives, or paper are known as cold wallets.
Learn more about Cold storage in cryptocurrency
Bitcoin wallets are based on the custodianship keys
Custodial Wallets (3rd Party Services).
You entrust your bitcoins in the hands of an exchange or agency. This means that you trust them to store your bitcoins on their servers.
Non-Custodial Money Wallets
These wallets can be called non-custodial wallets. They are safe and secure, and you don’t have to entrust your bitcoins.
Which Bitcoin wallet should you use?
This is a difficult question.
The type of bitcoin wallet that you choose will depend on how active you are and the level of security you desire to manage your bitcoins.
It all depends on how often you use your funds, and how much you wish to keep on any one wallet. Are the bitcoins for savings or investment?
Because of their high-security features, I prefer hardware wallets such as Ledger NanoX to store large amounts of bitcoins. Desktop wallets are what I use to store bitcoins that I don’t need for daily transactions. My desktop wallet is connected to the Bitcoin network so that I can transfer bitcoins quickly and easily whenever needed.
To keep small amounts of Bitcoins in my wallet, I use only web wallets and mobile wallets.
Which wallets are you most comfortable using? Which wallets have you tried? Please comment below to let us know!
Do you like this guide to Bitcoin wallets It’s a great resource to share with friends!
These are some of our favorite guides that you can read next.
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This article will teach you all about paper wallets.
This detailed article about the various types of Bitcoin wallets (including software, hardware and desktop wallets) will assist you in making the right decision for yourself.
Let me know what altcoin or bitcoin wallet you use in the comments below.
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