21 December 2020, 20:12
2 min reading
Founded by an anonymous programmer by the name of Satoshi Nakamoto, this digital coin has shown us a very practical substitute for government-controlled fiat currency. In fact, the main philosophy behind BTC creation is that you will be in full control of your money.
Be in full control of your money — sounds good. This means you won’t need to:
Via private and public keys, you will be your own bank and have the freedom to send money to anyone you want at any time (provided the recipient has a Bitcoin address of their own.)
Having said all that, since you will be in control of your own money, it also means that you will be responsible for ensuring secure storage. And that’s where the best bitcoin wallets come into play.
Simply put, Bitcoin wallets are software programs that store public and private keys and also interact with different Blockchains to enable bitcoin users to receive, send, store, and monitor their digital currencies. This is a must-have requirement if you’re planning on trading Bitcoin.
With that in mind, in today’s article, we’re going to review the best Bitcoin wallets of 2021 – and as you will see, we will be dealing with a combination of software, hardware, and mobile bitcoin wallets.
The first software wallet in our list is relatively new in the space, but what sets it apart from most bitcoin wallets (besides its exceptional features) is its intuitive and easy to use interface.
Even a total beginner can execute a transaction and operate the service without going through a steep learning curve.
Operation Systems supported by Exodus include Linux, Mac OS, and Windows. According to the company, a mobile crypto wallet is also in the works and could hit the market anytime from now.
Exodus retails with an inbuilt shapeshift exchange service that will enable users to trade Bitcoins and other Altcoins within the wallet itself. The wallet’s interface will even clearly showcase the coins one is going to get after the transaction both in fiat and crypto values as well as the transaction’s spread.
Initially, Exodus only supported around 40 currencies, but this number has gone up to more than 100, which now includes major ones like Qtum, OmiseGo, Golem, Gnosis, FunFair, Ethereum Classic, Litecoin, Ethereum, and more. What about its security features? I’m glad you asked.
Since it’s a software wallet, Exodus will encrypt and store all your data in your computer’s hard drive, i.e. locally so that you’re always in full control of your data and keys. The wallet also offers its users an extremely simple guide they can use when they want to create a backup.
Created back in November 2011 by Thomas Voegtlin, Electrum is arguably one of the oldest Bitcoin wallets in the market (even though different developers have modified it several times since then.)
The fact that Electrum is a software bitcoin wallet implies that you can easily download and run the application from your computer. You can run Electrum on macOS, Linux, or Windows.
That said, even though Electrum was originally designed as a software bitcoin wallet, the company behind it released a mobile version around five years ago. You can find it on Google Play Store.
Another feature of Electrum worth noting is the lengths its programmers are willing to go to ensure incredible security features and prevent funds loss and theft. For starters, your private keys will not be sent to their servers. Instead, they’ll be encrypted, which will give you full ownership and control.
Created in June 2012 by Fred Ehrsam and Brian Armstrong, Coinbase is widely recognized as one of the most respected and popular exchange platforms for digital currencies. However, Coinbase isn’t available for customers worldwide. Most of their services are optimized for clients in the United States and Europe.
Coinbase boasts a rich user interface that’s easily understandable even by beginners and will support additional digital currencies besides Bitcoin. To date, this wallet supports most digital assets out there.
In regards to safety, you can use two-factor authentication and store more than one signature to protect your funds. Enough to say that this cryptocurrency wallet won’t leave you unprotected.
Built by a Prague based company, Trezor Model is one of the most convenient and accessible hardware wallets in the market today. It is extremely easy to use and its cool design will allow you to carry it around without a hassle.
As of the writing of this article, this Bitcoin hardware wallet is compatible with Linux, Mac OS X, and Windows. Plug-in the wallet (which looks very much like a USB drive) into your desktop or laptop to connect to your chosen interface and get started.
After connecting to your preferred interface, the next step will ask you to input a unique pin to continue. The PIN will be displayed on your hardware wallet screen and will be randomly generated by the wallet every single time you try using it. This feature has been introduced as an added layer of security for your bitcoins.
In addition to Bitcoin, Trezor Model supports 1063 other cryptocurrencies, including Ripple, Dash, Ethereum, Ethereum Classic, Dash, Stellar, Tether, Litecoin, and Bitcoin Cash. This will be useful if you plan on diversifying your portfolio by investing in other cryptocurrencies.
If you’re not well versed in technical and coding details, this hardware wallet is a great option to store a majority of your cryptos. Developed by ledger the French company, ledger Nano S is a widely used bitcoin hardware wallet you can use to physically secure your private keys. As the wallet’s category suggests, all your bitcoins inside the appliance be stored offline to ward off hackers.
In addition to Bitcoin, other cryptocurrencies that Ledger Nano S can hold include Bitcoin Cash, Ethereum, Ethereum Classic, Eos, Dogecoin, Dash, Cardano, Binance Coin, Zcash, Tron, Tether, Stellar, Ripple, Monero, and more.
After acquiring Ledger Nano S, the neat little package you will receive will include 1 ledger Nano S, 1 micro-USB cable, Lanyard for wearing the device around your neck, a key ring & a keychain, as well as a recovery sheet for writing down the seed keyword.
Activating the device won’t be a hassle either. All you’ll need to do is connect it to your computer using a USB cable and select the option to create a new wallet. After that, you’ll be asked to confirm your new PIN, which is necessary to remember as it’s the one you will use every time you connect the Nano S.
KeepKey is yet another leading player in the realm of bitcoin hardware wallets, even though it’s slightly lesser-known compared to the other two brands. What first attracted me to this wallet is the fact its pricing was recently lowered but its features were slightly improved.
Today, the Bitcoin wallet offers a whole lot of valuable features and a high level of security. This includes KeepKey’s integration with ShapeShift, an addition that will facilitate cryptocurrency transactions from within the wallet. We touched on the feature while reviewing Exodus above.
Currently supporting 55+ cryptocurrencies, KeepKey is also a great wallet option for those who see themselves investing in other coins besides bitcoin in the future. Add to that the fact that the wallet’s code is open-source, which gives the development community the ability to evaluate security standards, make suggestions, and follow up with the latest changes.
The first thing you’ll acknowledge after installing Lumi on your phone and creating a wallet is the convenience of its user interface. The entire installation process will only take a few minutes.
On the wallet’s homepage, you’ll notice three tabs, namely Activity, Wallets, and Overview. Click the “Wallets” tab to check available wallets and add any that you think are missing by simply tapping the “+” button. You can view your transactional activity under the activity tab.
Most importantly, the Lumi wallet boasts a wide array of coins available, and new ones are regularly added. The wallet also gives you the option to customize your portfolio by getting rid of unnecessary cryptocurrencies from the main screen and adding the ones you use the most.
Trust Wallet is a mobile Bitcoin wallet that not only allows its users to store their private keys on their own devices but also retails with a backup facility for simple recovery. The app is compatible with both major operation systems: Android and iOS.
In addition to Bitcoin, Trust Wallet also supports other leading cryptocurrencies like Bitcoin Cash, Litecoin, TRon, Wanchain, GoChain, ETC, Ethereum, and more. Aside from a Bitcoin address, Trust Wallet provides users with a unified Ethereum wallet address so you can handle ETH and all ERC20 tokens in a more comfortable manner.
Okay, yes, we’re also in this list. But not just because this ranking is posted on our blog. Since 2018, Crypterium Wallet has gained huge traction in the global cryptocurrency community, establishing itself as a super secure, easy-to-use, multi-currency wallet. Today, more than 400,000 clients worldwide trust Crypterium Wallet for storing and managing their digital assets with ultimate ease.
There’s no doubt that the other Bitcoin wallets in this list are good. After all, we are all for honesty. That being said, we believe that Crypterium Wallet stands out from the rest in three ways:
When picking the best bitcoin wallet, there are lots of factors you ought to look at including customer support, user experience, security, total price, customer satisfaction, and more. The last thing you want to do is to leave your funds online simply because you wanted to avoid transaction charges.
Even more important, if you compare bitcoin wallets and realize that they have the same level of security, their user experiences might be a decisive factor.