Guide: 14 Best Bitcoin Wallets to Store Your Bitcoins
Here’s something every bitcoin owner should know: the safety and security of your bitcoins is ultimately your responsibility. To combine knowledge of digital security like secure bitcoin storage is important if you don’t want your accounts to be hacked and bitcoins drained. To remember – bitcoin transactions are not reversibleTo send or spend bitcoins, one must have access to both public and private keys. Private keys in particular must be protected
Types of Bitcoin Wallets
There are a few types of bitcoin wallets and they have different security mechanisms to ensure the security of private keys. Simply put, bitcoin wallets can be divided into 5 kinds: desktop, mobile, online, hardware and paper wallets. Some varieties can overlap or be used in conjunction with each other. I am going on what you can expect from each type and feature a few examples for you to try. Here are 14 safe bitcoin wallet options for you to choose from.
Desktop wallet
Bitcoin desktop wallets offer one of the highest (if not the highest) levels of security in terms of bitcoin storage. you must download the software to your computer and perform bitcoin transactions from desktops, so it may not be practical for some people. This option may be technical and confusing for bitcoin newbies Bitcoin Core it is first and original walletUsing this option means have control over both your public and private keys, which ensures safe storage. However, Bitcoin Core too requires a lot of space as the software comes with data on every bitcoin transaction ever made According to the download page, you need 65 GB of free space from 2016 onwards – this number will increase as more bitcoin transactions take place every day. Arsenal calls itself ‘the only open source wallet with cold storage and multi-signature support’ and is one of the popular desktop bitcoin wallet options. Private keys are stored on an offline computer, which means that only someone with access to it physical location from the computer (it is kept secret) can steal bitcoins.
Mobile Wallets
Bitcoin mobile wallets aren’t alone available and practicalMany too include other layers of security to ensure that users’ bitcoins are not compromised. It’s a good idea to keep only a small amount of bitcoins in it mobile purses while the rest remains in safer options. Note: All recommendations below are available for both Android and iOS users. Mycelium is one of the safest and most recommended options for secure bitcoin storage mobileIt offers ‘bank-grade security’ Hierarchical Deterministic purses, removal of the private key and watch only accounts
This full-fledged bitcoin service provider offers both online and mobile secure bitcoin wallets. What sets Wirex apart from the rest is being ease of use without compromising safety
Users get multi-signature (‘multi-sig’) wallets and can switch on 2-factor authentication (2FA) for both app and Wirex linked email addresses, making third party breaches difficult. Famous for its safe and security, Xapo combines cold storage and multi-sig technology to keep users’ bitcoins safe. The servers are kept “behind reinforced concrete walls, a steel blast door and a Faraday cage that blocks radio waves,” located “in the Alps.”
Online wallets
Online bitcoin wallets are wallets that are easily accessible on the internet via any device, as long as it can be connected to the internet easier and faster to make transactions through online wallets because of its accessibility. phishing, malware, insider hacking, or a clear lack of knowledge of digital security makes it easy for hackers to steal bitcoins from online wallets. the failure of two massive bitcoin exchanges (Mt Gox and Bitfinex) makes people wary of such services While the bitcoin wallets recommended in this section have a high reputation, we recommend that you store larger amounts of bitcoins in other types of wallets Blockchain.info is the most popular (8 mil wallets) website that everyone uses perform and monitor bitcoin transactionsThey are often praised for their ease of use, support for multiple countries and cross-platform capabilities
Aside from a web wallet, Blockchain.info is too available on desktop and mobile app A respected name in the Bitcoin world, BitGo is considered a leader in blockchain securityBitGo is great for individuals and businesses who prefer near-instant transactionsUsually a bitcoin transaction must be between 3-6 confirmations, which take approximately 30-60 minutes
With BitGo Instant and its zero fixing technologyusers can perform both secure and fast transactions. Lots of bitcoin holders tend to check bitcoin wallets multiple times to reassure themselves that their bitcoins are still thereThis constant login and logout can be unsafe if done over unsecured Wi-Fi or if it was exposed to malware or phishing tactics.
GreenAddress’s watch-only mode helps users to check scales without compromising safetyHierarchical deterministic wallets also help keep users’ bitcoins safe.
Hardware Wallet
The method of choice for many bitcoin holders to keep significant amounts of bitcoinsHardware bitcoin wallets are easy to use and portableAll these plug and play options give users full control over their own bitcoins One of the biggest fears of a bitcoin holder is the unknown transactions that use up all their bitcoin savings. KeepKey helps to relieve this anxiety. Users will have to manually approve each outbound transaction on the KeepKey device
Private keys stay in the device, and it is PIN protected in case it falls into the wrong hands. A trusted name and endorsed by many of the leading leaders of the Bitcoin community, Trezor is small and easy to use. It features protection against malware and disaster recovery in case of theft or loss
The smallest and most cost effective optionthe US dollar Ledger Nano is available in a few variations. Everyday users can choose between Ledger Nano or Ledger Nano S. The latter is the first hardware wallet that can do that store Ether (ETH / ETH), making it the first of its kind.
Paper purse
Bitcoin paper wallets are safe from hackers such as the bitcoins are taken offlineUsers have control over their bitcoins at all times they keep their own private keysThe problem, however, is storage. Paper can be destroyed, ripped, faded or otherwise lostUnlike hardware wallets, there is no recovery mechanism for paper wallets à ¢  ?? A ?? so lost bitcoins are lost forever. This is something to keep in mind if you want to use this option. Users can printing tamper-resistant paper wallets with these services to keep their bitcoins offline. Provides extra security tips, designs and supplies, this website is a favorite among proponents of bitcoin cold storageIt even has a handy video showing you how to use this paper wallet. BitAddress.org is a free, no-frills service that can easily generate bitcoin paper wallets
Conclusion
For a new bitcoin user, this information can seem daunting. You may have heard of bitcoin losses due to hacks, malware or maybe just human error. We suggest keep most of your bitcoins in paper or hardware wallets (or if you have space, in Bitcoin Core). If you have bitcoins in online or mobile purses, distribute them on a few reputable websites as recommended above
14 Best Bitcoin Wallets to Store Your Bitcoins: benefits
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Final note
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