The best Bitcoin wallets and their features

Are you searching for the best Bitcoin wallet? If so, here are the best Bitcoin wallets and their features. Choose one that best suits your needs. 

A Bitcoin wallet is a software program where people store their Bitcoins. To be technically accurate, people don’t store Bitcoins anywhere. Instead, there is a private key (secret number) for every Bitcoin address that people save in the Bitcoin wallet as proof of ownership for the balance.

Bitcoin wallets facilitate sending and receiving Bitcoins and give the user ownership of the Bitcoin balance. The Bitcoin wallet comes in many forms, including desktop, mobile, web, hardware, and paper, which are the most popular ones. Here are the five best Bitcoin wallets and their features.

Blockchain Wallet

Blockchain Wallet is one of the most popular Bitcoin wallets, with over 16 million active users. It is a software wallet available on the Web, iOS, and Android. Blockchain wallet has many features like buying Bitcoin directly from the wallet, selling Bitcoin, sending and receiving Bitcoin, setting up a passcode to protect the wallet, 2-factor authentication to add an extra layer of security, backing up the wallet, etc.

Coinbase Wallet

Coinbase is a popular Bitcoin wallet that allows people to buy and sell Bitcoins. Coinbase is available on the Web, iOS, and Android. It has similar features to the Blockchain wallet. However, it has a few additional features. And these include:

• The functionality for buying and selling Ethereum and Litecoin.
• Converting cryptocurrencies
• Setting up a U.S. bank account to trade cryptocurrencies.

Electrum Wallet

Electrum is a software wallet available on Windows, Mac, Linux, Android, and iOS. It is among the oldest Bitcoin wallets that emerged in 2011. It is a lightweight wallet that doesn’t download the entire Bitcoin blockchain. Some features are storing your private keys offline, 2-factor authentication, multi-signature support, etc.

Exodus Wallet

Exodus is a software wallet available on Windows, Mac, and Linux. It is relatively new as it emerged in 2016. It is an easy-to-use wallet with a friendly user interface. Exodus’ features include one-click email recovery, ShapeShift support, live charts, etc.

Mycelium Wallet

Mycelium is a software wallet available on Android and iOS, and it’s one of the most popular Bitcoin wallets, with over 1 million active users. Some features are watch-only accounts, cold storage spending, hardware wallet support, etc.

Hardware Wallet

A hardware crypto wallet is a physical device that stores people’s private keys offline. Trezor and Ledger Nano S are two popular hardware wallets. People consider them very secure as they are offline and not susceptible to hacks. Some hardware wallet features include storing Bitcoin, Ethereum, and other cryptocurrencies. It also facilitates sending and receiving cryptocurrencies, checking account balances, etc.

Paper Wallet

A paper wallet is a paper with a person’s private keys printed on it. People consider it a very secure way of storing Bitcoins as it is offline and not susceptible to hacks. However, it is not as convenient as other wallets as it requires some technical knowledge to set up.

Which is the Best Bitcoin Wallet?

There is no single answer to this question as it depends on people’s individual needs and preferences. Some people might prefer a software wallet because it is more convenient. For instance, a software or hot wallet is ideal if you want to trade Bitcoin on crypto platforms like the Bitcoin Storm. But if you don’t intend to purchase and sell Bitcoins, a hardware wallet will be ideal because it is more secure.

Therefore, research before picking a Bitcoin wallet as there are many different wallets with varying features. Choose a cryptocurrency wallet that suits your needs the best.