Bitcoin is taking over the world economy like a storm. And, in the near future, it is going to be one of the most used alternative currency in the world. There are several advantages of cryptocurrencies over traditional fiat currencies. Such as they are more secure than fiat currencies. They are easier to use than other currencies.
There is another advantage (or you can say it a disadvantage) of Bitcoin is it’s very volatile. Due to the volatility, you have seen the value of Bitcoin against USD and other fiat currencies skyrocketed over the last couple of years.
With each passing day, more people are coming to invest in Bitcoins. And, of course, getting a huge ROI in a very short period of time.
We know cryptocurrencies are safer then fiat currencies but there is one demerit of them ie; if the privacy was compromised you will lose all your Bitcoins in a second and it’s impossible to retrieve it from the black hole of hackers.
So, what you should do for better privacy?
The first and most important step is to use secure Wallets to store your Bitcoins.
7 Best Bitcoin Wallets to Store Bitcoins
There are several Bitcoin wallets are available in the market but not all are safe. Even some wallets are created in shared servers which are easy to hack so you should be extra careful when choosing a Wallet for your Bitcoins. Always go with the Wallet, others are using.
Well, here are 7 out of them.
- Ledger Nano
- Atomic Wallet
These secured wallets are used by thousands of crypto traders and investors to keep their Bitcoins safe.
Let us dive deep into those 7 Bitcoin Wallets.
Trezor is a hardware wallet which not only supports Bitcoins but other cryptocurrencies too. It is a device like a pen-drive which you have to connect to a computer to store your Bitcoins.
It’s said that hardware Bitcoin wallets are the most secure wallets because they are not connected to the internet all the time. A hardware wallet only connects to the internet when you need to store or transfer your Bitcoins from it.
Along with the password protection, you also get 2-factor authentication that provides you more security.
The added benefit of this hardware wallet is if it’s lost you can recover your Bitcoins within 5 minutes via the recovery process. It has the recovery process though you should always make sure that never, ever lost your device or password.
Trezor doesn’t cost any commission to store your Bitcoin but you have to pay for a one-time fee of 69 and 149 EURO for the 2 models of the wallet.
2. Ledger Nano
The second Bitcoin wallet is Ledger Nano hardware wallet. It’s my favorite wallet and I personally use it to store my Bitcoins.
Just like Trezor, Ledger Nano is a USB device in which you can store your Bitcoins along with the 1100 other cryptocurrencies. You can secure your Bitcoins by the password and two-factor authentication. The backup and restore feature is great. You can backup and restore all your cryptocurrencies with only a few clicks.
It remains protected within a secure chip locked by a PIN code, the same type of chip used for passports. Ledger Nano S is fully-certified by ANSSI, the French cybersecurity agency.
If you see the overall features its the most reliable Bitcoin wallet in the world.
There 2 modals of Ledger wallet,
There are other product Ledger manufactures for Bitcoin users such as Ledger Backup Pack, Ledger Blue, and Ledger OTG Kit that you can buy for additional security.
3. Atomic Wallet
It’s a Bitcoin Wallet software which is based on decentralized atomic swap technology. Atomic Swap is the technology created to proceed with cross-chain exchange avoiding third-party risks.
If you want to read more about atomic swap technology refer to this article – atomicwallet.io/centralized-exchanges-vs-atomic-swap
Atomic Wallet provides the user with a powerful, in-demand service which reduces the effort in managing crypto assets while making it transparent and reliable.
Its an operating system based software which is available for Windows, Mac, Debien, Ubuntu, Fedora, iOS, and Android.
Along with the Bitcoin, it supports more than 300 other cryptocurrencies. Atomic Wallet has also a feature to buy Bitcoin from their exchanges.
However, it’s available for free to download but you have to pay nominal charges for each transaction.
If you ask me for the most secure software based Bitcoin Wallet I would always recommend Atomic Wallet. It has password protection as well as two-Factor authentication so it’s very secure for the Bitcoin holders.
4. Mycelium Wallet
Mycelium has several services like online payment gateway, payment processors for shops and Card network, etc. They also provide one of the best Bitcoin Wallet service which is basically an app can be downloaded in your mobile.
Mycelium Wallet is available for both iOS and Android users. To use Mycelium Bitcoin Wallet you need to to install the app in your mobile and set up the password as well as the two-factor authentication.
The best feature of this wallet is you can create and manage multiple accounts in one app.
Mycelium is awarded as “Best Mobile App” Blockchain.info in 2014. They claim to provide bank-grade security in their app. This wallet is also integrated with hardware wallets such as Trezor and Ledger NANO so you can easily transfer Bitcoins between them.
Keep key is another hardware Bitcoin Wallet. It provides the same service that you get with Trezor and Ledger NANO.
KeepKey generates and manage your private keys offline in cold storage and guard your assets against computer vulnerabilities and viruses. There is a simple recovery process available in the case of lost the device or password. A 12-word recovery sentence generates during the initialization process which you have to keep secure and use it when the device is lost or you forgot the password.
KeepKey integrates with ShapeShift which is one of the best cryptocurrency exchange in the world so you can easily buy and sell your Bitcoins direct from the KeepKey hardware wallet.
6. Coinbase Wallet
Coinbase is one of the biggest crypto-fiat exchange and trading platform but they also provide Wallet facility for Bitcoin and other cryptocurrency users.
They have a highly secure online crypto wallet which supports 2-factor authentication along with the normal password protection. They have Wallet apps for Android and iOS users so you can manage your assets right from your mobile.
As Coinbase is a crypto exchange the wallet they provide is integrated with the exchange and you can easily trade on their exchange.
As well as you can easily send and receive Bitcoins in your wallet.
If you don’t want to spend money on hardware wallets then this would be the first choice for you.
Exodus is similar wallet service like Mycelium Wallet. It’s a software which you need to download on your computer or mobile to save your Bitcoins in the wallet.
The cool thing is there is no need for account setup or verification required. You just have to download the app and set up your password and 20factor authentication and start saving your assets.
Exodus supports 95+ cryptocurrencies so can use it for alternative cryptocurrencies too.
Exodus provides you with a digital asset management dashboard from where you can easily send and receive your Bitcoin and other cryptocurrencies.
Conclusion: Best Bitcoin Wallets
So, which one you are going to choose for your digital assets. Out of these 7 most popular Bitcoin wallets, I don’t think ant wallet exists in which you can trust with blind eyes.
All these services have been operating for many years and gain trust in the market.
BDW, which one you use, tell us in the comment box so that other Bitcoin investors also get the idea which they should use? Also, tell us your experiences with these wallets.
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