Best Bitcoin Wallets
The concept of Bitcoin is still new in the market, although it has been established a decade ago still people have a limited knowledge about it. Bitcoin is a type of digital currency which can be stored as an investment and have better privacy then other traditional currencies. They are still risky to invest though. Bitcoins are of really high value so just in order to prevent them and store them safely the people owning Bitcoin need to take some major steps. To store the bitcoins safely, people need to use Bitcoin wallets. Wallets are secure and protected way to keep any type of your crypto currency safe. The wallets provide high security to your currency. But the other challenge is which wallet to choose for storing your valuable Bitcoin. So, here to accommodate your needs we have created a list of top 10 bitcoin wallets just for you and if you are making an investment in Bitcoin, then don’t forget to check out these wallets for your safety.
- Ledger: supporting 20 currencies at a time and holding up to 100 at a time, Ledger is an offline wallet which can store your Bitcoin and it has two versions which can be purchased for $59 or $119.
- Coinbase: having no purchase cost, this is an online wallet through which you can easily buy, sell and hold your crypto currency and they just charge transaction fees and costs on your activities.
- Robinhood: with literally no transaction and purchase cost, this is an online wallet where one can buy, sell and hold the currency and it currently supports Bitcoin as well as 6 others crypto.
- Edge: this is a really good and flexible wallet as you can buy, sell and hold 30 different types of crypto currency here and it has no purchase cost and has an online platform which can be accessed by its users through the username and password.
- Exodus: this is a really good app for people who love to do business and are typically business minded as it converts all your currencies or assets into a portfolio with graphs and charts and you can easily store your Bitcoin here and it supports a large number of crypto currency.
- SoFi: this app charges 1.25% as its transaction fees and is really easy to use with no purchase cost and is available online for its use. You require minimum $1 to open your account and it supports 5 type of crypto currency including Bitcoin.
- Trezor: this is an offline wallet which lets you store your Bitcoin and you can purchase this one for $55 and up depending on the version you choose and it also supports more than 1000 digital coins.
- Mycelium: mycelium is free to use and purchase and is an online Bitcoin wallet which lets you buys, sell or hold the Bitcoin and it currently only supports Bitcoin and one good thing about Mycelium is you can pay customised transaction cost while selling or purchasing the Bitcoin.
- Copay: this is an online wallet which can be used to safely store your bitcoin and has a very efficient customer support team, and it comes with no purchase cost.
- Bitcoin Wallet: with no initial purchase cost, this is a simple, secure and easy to use Bitcoin wallet where you can buy, sell or hold your Bitcoin and it is online with a very customer friendly application.
Types of Bitcoin Wallets:
There are two different types of wallets to store your currency on the basis of their mode. So, let us have a look at types of Bitcoin wallets.
- Online Wallets (Hot Wallets): also known as hot wallets online wallets are easy to use and mostly comes with no purchase cost and you need an internet connection to use these types of wallets. So, they are easily available and accessible no matter what your location is but there is a problem with these wallets that these wallets are a soft target of cyber bullies and can be hacked by the hackers. SoFi and Exodus are some of the examples of online wallets.
- Offline Wallets (Cold Wallets): also known as cold wallets these wallets do not require an internet connection and are used offline, they are highly secured and not breakable and can come in form of portable device or USB depending on the way you select it but these can be affected by viruses. Ledger and Trezor are offline wallets which can be accessed by the users.
How to choose your Bitcoin wallet?
So, if you are moving ahead to choose a Bitcoin wallet, then don’t forget to keep these things in mind before selecting a perfect wallet for yourself:
- Price of wallet: you should check out the price of the wallet, how much is it for and not only price you should also look out for all type of hidden costs, transaction cost and much more in order to select a low priced wallet for yourself. Robinhood is a wallet with no transaction costs and no hidden costs.
- Flexibility: look out for a wallet that is efficient enough and which is really flexible to use. You can select the wallet which can hold your all type of Crypto currencies such as Coinbase and Edge are perfect for holding different types of currencies whereas according to some experts you should not keep your all currencies together so for that you can use Mycelium which only deals in Bitcoins.
- Easy to use: you should look out for the wallet which is really easy to use and has no complex deals and transactions in it. Bitcoin Wallet and SoFi are really simple, secure and easy to use apps that can be accessed from anywhere.
- Compatible much: select the wallet which is compatible and can be connected with all your devices so that you can use it anywhere and anytime. For example, Copay is a really compatible wallet that is compatible to almost all your devices be it android, IOS or Microsoft.