Bitcoin wallets are secure storage in which you can store your Bitcoin and keep them safe for as long as you wish. They come in many shapes and forms, such as on platforms like Stormgain. Some are more practical than others, although that often makes them less safe, while the less convenient ones are usually more secure.
But, no matter what type of a Bitcoin wallet you choose to use, you should definitely always go for the best wallet available. Since it can be difficult for new crypto users to find their way around the crypto industry (it is filled with new concepts and terminology, after all), we have decided to help them out by helping you discover which wallet works for you.
In This Article:
What kinds of crypto wallets are there?
Before we start listing up the wallets themselves, let’s first see how they are classified. There are two main categories of Bitcoin wallets, and those are:
- Online wallets, also known as Hot wallets
- Offline wallets, also known as Cold wallets
As the name suggests, online wallets are the ones always connected to the internet. Offline wallets are those that do not maintain this connection at all times. While this makes it difficult to instantly transfer your coins from the wallet to the exchange, it is safer, as they are not constantly vulnerable to hacking attacks.
Online and offline cryptocurrency wallets can further be split into five more categories, in total. That includes:
1) Hot wallets
- Web wallets
- Mobile wallets
- Desktop wallets
2) Cold wallets
- Hardware wallets
- Paper wallets
In this article, we will now take a look at the top 15 Bitcoin wallets according to these categories. That way, you will have plenty of choices based on the level of security and convenience that you require.
The Best Bitcoin Wallet in 2020
Bitcoin online wallets
Let’s start by looking into the best Hot wallets for Bitcoin. As mentioned, there are three different choices — web wallets, mobile wallets, and desktop wallets.
Web wallets are wallets that you can access through your browser, and they usually come in the form of a browser extension, or even an entire website. They are the most practical in terms of having your coins instantly available for transfer, although they are also the most vulnerable, as they are always on the internet. Some of the best among these wallets include:
Coinbase is the largest and most popular cryptocurrency exchange in the US. It is also one of the largest exchanges around the world, too. As such, the wallet that it offers is also among the best-known and most popular ones. Coinbase knows how to make things simple for its users, and its crypto wallet is often considered to be the best easy Bitcoin wallet.
It allows you to connect your bank account to the wallet itself, which makes it simple to transfer your funds in and out. The wallet doesn’t support a lot of different cryptos, but it does support some of the largest ones, such as Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Its ease-of-use, efficiency, and constant availability are, obviously, its biggest strengths. But, as mentioned, wallets like these are constantly probed by hackers who are looking for ways to empty them.
Pros of Coinbase:
- It is as safe as web wallets can get
- Owned by a trustworthy exchange
- Very user-friendly
- Offers basic and advanced accounts to satisfy all users’ needs
Cons of Coinbase:
- Only supports a handful of cryptos apart from Bitcoin
- Online so vulnerable to hacking
Then, there is a Blockchain web wallet, which got its name from the cryptos’ underlying technology, the blockchain. This is one of the most popular wallets today, known for being extremely intuitive and easy to use.
However, the wallet is stored on the company’s servers, which already involves third-party risk. On the other hand, it is reputable, rich in features, and its simplicity is well-known. Security is also very good. In fact, it is among the best examples of secure web wallets for Bitcoin in the entire crypto industry.
This comes from enhanced security features introduced a few years ago, such as not using the same address twice.
Pros of Blockchain:
- A very popular, well-known web wallet
- Very easy to use
- Has Two-Factor Authentication
Cons of Blockchain:
- Some users complained about its customer support
- Available online also means vulnerable to hackers
Lastly, we have Freewallet, which is a multi-currency web wallet, that also has a very user-friendly interface. It also has support for mobile devices, and it comes with over 30 supported coins. Naturally, that also includes Bitcoin. It offers pretty good security, with pin-code and 2FA.
However, one of its best features is that Freewallet users can transfer the funds between accounts for free, as the name suggests, Other than that, the wallet also offers a crypto purchase function and exchange function. You can also buy coins by depositing money via your credit card. The wallet is also convenient, as it fills in your address, so you don’t have to do it on your own.
Pros of Freewallet:
- Supports multiple currencies apart from BTC
- Very easy to use
- Serves as a wallet and a trading platform/exchange
- You can send funds to other users for free
Cons of Freewallet:
- Once again, as an online wallet, it is not safe from attackers
The last decade has brought forth the rise of smartphones, and with everyone now having one or multiple mobile devices, crypto trading on the go became a major trend. But, to be able to export your coins to exchanges at any time, you need constant access to your wallet, which is why mobile wallets became popular, as well. Here are some of the best Bitcoin wallets for mobile devices.
BRD is one of the best Bitcoin wallets for iPhone, and considering how many iOS Bitcoin wallets there are today, that really says a lot about it. The wallet supports Bitcoin, Bitcoin Cash, Ethereum, and pretty much all ERC-20 tokens, so there will definitely be no shortage of coins that you can trade.
Not only that, but you get to manage your own private keys, so the security is also as good as you can make it. Of course, that means that you are in charge of security, your funds, management, and everything else, so as long as you know what you are doing, you should be fine.
Lastly, the wallet is very user-friendly, so you should have no problems with navigation and use.
Pros of BRD:
- Considered the best iOS Bitcoin wallet
- Supports multiple coins
- You control your private keys
Cons of BRD:
- As a mobile wallet, it constantly has internet access, which makes it vulnerable
Next, we have an Infinito Wallet, which is an iOS and Android Bitcoin wallet that supports a large number of cryptos. That includes all EOS tokens, ERC-20 tokens, and even NEP-5 protocol tokens. And, of course, Bitcoin.
The wallet further improves security by using a 12-word passphrase to secure your assets. In addition to that, it is very user-friendly, with a modern, sleek design and fast transactions.
Pros of Infinito:
- Available in multiple languages
- Supports Android and iOS operating systems
- Supports a huge number of coins
- Modern look
- Transaction fees are paid to miners, not the wallet
Cons of Infinito:
- Vulnerable due to constant internet access
- It can be hacked if you lose your smartphone or have it stolen
- Not regulated
- Upgrade brought a number of performance bugs
Next, we have Samourai Wallet, which is an Android mobile wallet that is still in open testing, as of 2020. Of course, as a mobile wallet, this solution will never be as good as cold storage. But, with that said, the Samourai wallet for Bitcoin offers an abundance of security and privacy features that cannot be ignored.
It is a Bitcoin-focused wallet that doesn’t support altcoins, and you can only use it on Android at this time. However, it has been one of the most popular choices among Bitcoin wallets for years now, considering it’s such an easy Bitcoin wallet. It supports alternate addresses, and it improves security through the use of STONEWALL technology. This tech obscures any metadata that third parties might use to identify you, so it is a great choice for anonymity.
It is also very user-friendly, but remember to ensure that you are downloading the right app, as its popularity tends to attract malicious copies.
Once you set it up, there are multiple layers of protection, such as a passphrase, a PIN, and the key generation phrase.
Pros of Samourai:
- One of the best wallets in terms of security and privacy
- Great for anonymity
- Extremely safe for a mobile wallet
- Private transactions
Cons of Samourai:
- Only supports Bitcoin
- As a mobile wallet, it is still vulnerable to attacks
- Lacks fiat value display
Lastly, we have an iOS Bitcoin wallet known as Green Address, which is easily one of the best choices for Apple devices. It is among the most secure Bitcoin wallets, and it achieves this level of quality almost without effort. It claims to be safe from theft, cloning, and similar threats.
Meanwhile, most would not describe it as intuitive and new-user-friendly. Instead, many would describe it as a fancy wallet due to all the add-ons it offers. With all of that, it is often preferred by experienced users. Green Address is also open-source, so its code was made available for inspection in detail. This means that it must be good, as there are plenty of skilled developers who would have noticed flaws if there were any to be noticed.
However, one issue regarding the wallet is the fees. Installing it and using it is free, and so is the balance maintenance and account creation before that. However, transactions will come at a cost, and the trouble is that the fee is not constant. Instead, it depends on the demand within the network, which makes them constantly fluctuating.
Pros of Green Address:
- Very strong safety features that ensure privacy and security
- Easy integration with mobile environments and hard wallets
- Users control their own private keys
Cons of Green Address:
- Only supports Bitcoin
- Not very intuitive
- The passphrase and the PIN are generated by the server, not the user
The next category includes desktop wallets, which are wallets that you can download and install on your PC, as the name suggests. Similar to mobile wallets, desktop wallets are also somewhere in between hot and cold storage, as they can easily become one or the other, depending on whether your device is connected to the internet or not.
If you have it on a small laptop that you keep for the purposes of crypto trading, you can keep the device offline at all times, except when you wish to trade. This makes them less convenient than web wallets, but also more convenient than cold wallets, as you can connect to Wi-Fi at any time. Of course, as soon as you do connect, your wallet becomes vulnerable, but it is still better than web wallets in terms of security.
Besides, there is plenty of extra security software that can help and protect your wallet and your funds, such as anti-virus and anti-malware software, firewalls, VPNs, and alike.
Now, let’s take a look at some of the best desktop wallets available out there.
It should come as no surprise that Electrum would be our top choice for a desktop wallet. It is available across all three systems (Windows, Mac, Linux), and it is one of the most popular and secure wallets for Bitcoin.
Electrum Bitcoin wallet is also very light, which also makes it very fast. Using it is not too complicated, some might consider it an easy Bitcoin wallet, although it can be a bit difficult for new users to figure it out. Unlike most user-friendly wallets, Electrum doesn’t really provide hints or tips regarding its features and how to use it, so figuring all that out is up to you.
Also, it only supports Bitcoin, so it is not the perfect choice if you want to diversify your assets. But, it is well-known and respected in the crypto industry, so if you don’t mind the fact that its UI is not quite polished and super-intuitive, it will be a great, straight-to-the-point, no-distractions solution for you.
Pros of Electrum:
- Very safe
- Lightweight and fast
- Uses third-party servers to confirm transactions
Cons of Electrum:
- The same third-party servers compromise privacy
- Only supports Bitcoin
- Not very intuitive or polished
Bitcoin Armory is another old and respected wallet for Bitcoin, that is considered very reliable, as far as desktop wallets go. Like Electrum, it is also available on multiple platforms, which is great for all users.
However, one issue with it is that it is not very user-friendly. In fact, it can be quite complicated, and working with it actually requires some technical skills. This is especially true for those who want to configure it to act as offline crypto storage. That would certainly boost the security even further, although not many users know how to do it on their own.
Still, its security IS as strong as it is due to the fact that it only connects to the internet to make transactions, and it is offline for the remaining period. Also, like Electrum before it, it only supports Bitcoin.
Pros of Bitcoin Armory:
- Very secure and private
- It only connects to the internet to make transactions and acts as cold storage for the rest of the time.
- Old and reliable
Cons of Bitcoin Armory:
- Only offers support for Bitcoin
- Requires technical knowledge
- It takes a long time to sync and needs a lot of storage
3) Bitcoin Core
Naturally, we couldn’t make this list without featuring Bitcoin Core — the official Bitcoin wallet that is still the most highly recommended solution for storing BTC. However, as far as user-friendly desktop wallets go, this one is not among them.
Bitcoin Core is old, traditional, and complex. Not only that, but it also requires tons of memory on your PC — around 150GB, at least. In other words, if you don’t have huge amounts of memory to offer, you should move on and not consider this one.
But, Bitcoin Core also has its positives, such as being available on all major platforms, as well as supporting nearly 30 languages. Its security levels are almost unparalleled, and it has been around for as long as Bitcoin itself.
Pros of Bitcoin Core:
- Very secure and private
- Available on all platforms
- Multi-language support
Cons of Bitcoin Core:
- Not very intuitive
- Requires a lot of memory
Exodus is a crypto wallet that has been around for about 4 years now, after being launched in 2016. Since then, it became one of the best and most popular crypto wallets for desktop. It also supports many different currencies, and it even features a built-in crypto exchange function.
This built-in exchange functionality comes from the ShapeShift exchange, which is a known and respected platform.
Exodus is also user-friendly, but more importantly — it works well, and it won’t give you headaches all the time. It doesn’t suffer constant freezes, it is quick, there are no delays, nor error transfers of any kind. It is a simple but functional wallet, which is surprisingly difficult to find. But, its developers definitely dedicated a lot of time and attention to detail, and it shows. This is certainly an easy Bitcoin wallet to use.
Pros of Exodus:
- An excellent desktop wallet that doesn’t suffer from constant glitches
- Supports multiple cryptocurrencies
- Available across all desktop platforms, and even mobile
- Strong developer team
- Offers built-in exchange functionality
- Very intuitive, secure, and flexible
Cons of Exodus:
- It features high exchange fees
- Lacks 2FA
- Reuses the same addresses
The last wallet for this category is Coinomi, which is another very popular Bitcoin desktop wallet that was created back in 2015. It was created by two programmers, one of whom specialized in mobile apps, while the other had experience in mobile and PC program development, especially when it comes to security.
By combining their experience and knowledge, they managed to create a very safe and user-friendly wallet that we now know as Coinomi. Even today, the wallet’s team remains relatively small, although extremely capable.
The team made Coinomi as a desktop Bitcoin wallet, which also supports dozens of other cryptocurrencies. It also has a mobile presence, and it is very easy to navigate and use. Meanwhile, it maintains strong security, which is always important in order to keep your funds safe.
- High security features
- Supports numerous cryptocurrencies
- Private coins stored on the users’ device
- Integration with Changelly and ShapeShift
- No fees
- Code is not open-source
- Not regulated
- Third-party trading platforms that provide trading do not offer the best value
Next up, we have paper wallets, which are the first of the two cold storage categories. Now, paper wallets are not your typical wallet. They don’t come in the form of an app or software. Instead, these are simple addresses which you can print on a piece of paper, and fill them with BTC simply by assigning the coins to them.
As such, these wallets are extremely safe, as hiding a piece of paper to a safe place where only you will know of its existence is very easy. However, it is a bit technical, and perhaps not the most intuitive, especially when it comes to new crypto users.
Best paper wallets for Bitcoin
As mentioned, paper wallets don’t really come as actual wallets. In other words, you have neither software nor hardware where you store your coins. There is just a piece of paper and a private key.
Now, there are multiple private key generators that you can use to print the key and have your QR code paper wallet for Bitcoin set up, such as:
- Bitcoin paperwallet.com
- Wallet Generator.net
- Bitcoin.com Paper Wallet
With any of the three, your coins will be stored offline, with no risk of anyone getting to them via a hacking attack or a vulnerability. They are also very easy to create, and you don’t need to be an expert to use them, although it helps to have some experience.
- As safe as Bitcoin wallets can go
- Easy to create and use
- You can store as many coins safely as you wish
- Easy to store away
- If someone finds it, they can withdraw your coins without your knowledge
- You must be careful not to lose the paper, have it stolen, or damaged by the elements and alike
The last category that we have to cover includes hardware wallets. As the name suggests, these are wallets that are based on hardware, not unlike mobile or desktop wallets, that exist on separate devices, instead of being on the web.
Of course, one major difference is that they were meant to be used as cold storages, meaning that they never have access to the internet, except for those rare situations when you actually have to transfer your coins to and from them.
In addition, they have password protection, which puts them among the safest options for storing cryptocurrencies. The only real downside to them is that you need to purchase the hardware, and then be careful not to lose them. Other than that, you cannot transfer your coins without a computer, although that goes without saying. So, let’s see the best options in this area.
Ledger is a company that has been around for about six years now, and it is known for its hardware wallets, the best of which to this day remains Ledger Nano S. This is a wallet controlled by a microcontroller, or a chip, which generates and stores private keys. In other words, your private keys are stored on the wallet itself, and completely cut off from the internet, third parties, and alike.
All the data on the wallet is encrypted, and the private key is needed whenever there is any kind of transaction. Ledger is compatible with all platforms, and it supports dozens of different cryptocurrencies, including, of course, Bitcoin. In other words, no matter how diverse you want your investment portfolio to be, you will find what you need with Ledger wallets.
- An extremely safe way to store your cryptocurrencies
- You can carry it with you at all times
- Your wallet holds the private keys
- Multi-coin support
- Compatible with all platforms
- Not practical for instant trading
- You need access to a PC to use it or make transactions
- You need to pay for the hardware
Last but not least, we have Trezor. This wallet is a pioneer in its field, and it has been around for about 8 years now after the company emerged in 2012. One of its co-founder, Marek Palatinus, decided to create it after becoming a victim of a crypto theft that ended up costing him 3,000 BTC. Back then, that was around $12,000. Today that would be around $23.7 million.
But, the loss was severe enough to inspire him to create cold storage for Bitcoin, and that’s how Trezor came to be. The wallet’s main security features include not only having safe storage, disconnected from the internet, but also the ability to set up a PIN code on the device itself. It also uses 2FA for transactions, and it has the ability to use multi-signatures.
In other words, the attack on Palatinus gifted the crypto community with one of the safest wallets in the entire industry. Not only that, but Trezor also supports countless coins, and it can be used on all PC systems.
- Extremely safe, with all the best security features added on top of the wallet being a cold storage
- Multi-coin support
- Multi-platform compatibility
- Multiple keys can be stored in different places
- Hackers still managed to compromise it in 2017, allowing them to steal private keys
- It doesn’t support some of the most popular coins
In the end, every Bitcoin wallet has something going for it. For web wallets, that is the ability to use them instantly. For cold storages, that is extreme security. Deciding which one is the best is not so easy, as it depends on multiple factors, including what you need it for. And, of course, you can always use multiple Bitcoin wallets and have cold storage for the majority of your funds, and hot storage only for a small portion that you plan to trade with.
Your possibilities are endless, so take your time, study different wallets, look into their strengths and weaknesses, and develop the best strategy for securing your funds.