Best Bitcoin Wallets: A List of Trusted Bitcoin Wallets

Bitcoin wallets is a software shell for managing private keys and providing access to addresses in the blockchain network with their help. There are several types of wallets for storing the main cryptocurrency. You can choose online services or crypto exchanges, local (desktop) programs for installation on a computer, mobile phone applications, hardware devices or a paper wallet. According to the method of storage, they are divided into hot and cold. Each method has disadvantages and advantages.

List of bitcoin wallets

Let’s start with the current list of wallets for storing BTC:

Types of bitcoin wallets

• Online. This includes wallets on cryptocurrency exchanges: Binance, Currency.com, EXMO, FTX and others. After creating an account, they provide a crypto wallet for free, on which the cryptocurrency will be stored. Online services: Blockchain Wallet, Matbi, Guarda, GreenAddress, Luno, Coinfy, Copay. Registering a bitcoin wallet on an exchange or online service is the easiest option. At the same time, cryptocurrency trading will be available. The public address of the wallet is available to the user, private keys are available from the crypto exchange itself.
• Desktop wallets: Bitcoin Core, Electrum, JAXX, Exodus, Atomic, Knots, Armory, Lumi Wallet, Bither and others. Local wallets are heavy and light, the difference is whether you need to download the blockchain for synchronization or not.
• Mobile applications: Coinomi, Jaxx, Trust Wallet, Trustee, Mycelium, Luno, Guarda, Infinito, GreenAddress, BRD Wallet, Kcash. Complete and functional wallets that can be used from a mobile device anytime, anywhere.
• Hardware wallets: Ledger, Trezor, Keepkey, CoolWallet, Safepal. Hardware devices are paid devices. The keys on them are stored autonomously from access to the Internet, which is considered the most reliable option.
• Paper wallets. Also a cold, that is, autonomous, wallet. Unlike hardware, it is absolutely free, but less convenient to use and less secure in the sense that any attacker can use the keys from the wallet due to the lack of a password. Service for generating private keys: : bitaddress.org.

For long-term storage of the Bitcoin cryptocurrency, only a private address or seed phrase is needed, which must be recorded and saved. When you need to use them, you just need to import the keys or seed into the Bitcoin Core wallet, Electrum, Trust Wallet, etc.

Top 10 Popular Bitcoin Wallets

The following services are most in demand for storing bitcoin (all of them are non-custodial, that is, they are not responsible for storing user keys):

• Trust Wallet. A mobile wallet from the Binance exchange with support for a decentralized exchange and a large number of assets for storage, including NFT.
• bitcoin core. The first wallet for BTC, which is also considered the most secure of all software wallets. Requires downloading the full blockchain to a computer.
• exodus. A multi-platform and multi-currency wallet with convenient functionality for tracking the value of a portfolio and quick currency exchange.
• electrum. Desktop service for storing only Bitcoin. Very reliable, like Bitcoin Core, but does not require downloading the blockchain.
• Ledger. The manufacturer of these hardware wallets produces two models – Nano S and Nano X. They differ in some nuances, including the ability to connect to a software wallet, and the number of supported coins.
• Trezor. Another hardware wallet, it comes in two main models: Trezor One and Trezor Model T.
• Jaxx. Multi-platform wallet with the ability to buy and convert cryptocurrencies.
• Atomic Wallet. A convenient and functional service that supports PoS cryptocurrency staking and VIP functions for AWC token holders.
• Blockchain Wallet. The wallet is available online and as a mobile app. Requires account verification to access full functionality.
• Guarda. Service available on all major platforms. It has high security and many opportunities for asset management.

If you want to use Bitcoin in decentralized applications, then the best option is to buy Wrapped Bitcoin (WBTC). This is an ERC-20 token issued on the Ethereum blockchain, but equal in value to the original and backed by it. Such a token can be stored, for example, in Metamask and freely used in DeFi.

How to create a Bitcoin wallet

The recommended method is the so-called cold storage: using paper, hardware, local programs on a computer or other device. In this case, almost complete security of storing bitcoins is guaranteed.

Local wallets can be heavy (they require the entire blockchain network to work) and light. For example, the official Bitcoin Core wallet is classified as heavy, after installing the program, the process of synchronization with the network starts and all blocks with transactions are downloaded, the volume of which is 380 GB. This will require a constant internet connection and a long wait time. But the owner has full control over his wallet and private addresses.

If there is no desire to waste time, then you should download “light” programs that synchronize with the Bitcoin network online. These include the popular Electrum wallet client. It’s pretty well protected. The owner is given full access to private keys that can be exported and saved. Restoring access to the Bitcoin Electrum wallet is carried out using a seed phrase, which is received during registration.

The official website bitcoin.org presents all the ways to create a Bitcoin wallet, both for mobile devices and computers, and online.

Desktop wallets

Desktop programs for storing bitcoins can be downloaded from the official website of the cryptocurrency https://bitcoin.org/en/choose-your-walletby selecting “Computer”:

Clicking on each of the proposed wallets opens a page with detailed information about the main parameters and download links:

The disadvantage of some programs for storing bitcoins (for example, Bitcoin Core) is large amounts of information that you need to download to your computer. In turn, this is a safe way to store BTC – there is almost no need to contact third-party servers. You just need to take care of the security of your computer and prevent third parties from accessing it.

Online wallets

Blockchain Wallet

Bitcoin online wallet in Russian – Blockchain Wallet. The service is popular, it serves clients from more than 200 countries, more than 80 million wallets have been created. Registering a Bitcoin wallet with this service is very easy and takes a couple of minutes.

First you need to click on the “Register” button. Then fill out the form with your email address and password. The password must be remembered as there is no recovery function.

An email will be sent to the specified email in which you need to confirm the email. It will also contain the wallet ID, which must be written down and not disclosed to anyone. It is better to delete the letter later /

After that, enter the site using the password and wallet ID or email:

After entering the wallet, you will see the current balance, the “Send” or “Receive” items, the ability to configure the security of your personal account, and configure the wallet.

To send bitcoins, you need to enter the recipient’s bitcoin address and specify the amount, as well as set up a commission (optional):

The transaction is processed within an hour. All transactions will be displayed in the wallet, in the transaction history section.

To protect the wallet, you must complete the security setup, which includes several options. Verify the email, come up with a backup phrase (in case the password suddenly flies out of memory) and create a password hint that will point to the correct option, link the mobile phone number to the wallet.

The implementation of the above recommendations should ensure the security of the wallet at a high level.

60cek

Another type of online wallet is 60cek, which is both a wallet and an exchanger.

In addition to bitcoin, it supports ETH, LTC, DASH, DOGE, TRX, USDT cryptocurrencies.

This option is very convenient for those who often change currencies. The exchange from the built-in wallet takes place in a matter of seconds, since there is no need to wait for blockchain confirmation. A large list of available options for exchange, purchase, sale is supported, including bank cards and payment systems.

Commissions in bitcoin wallet

Some wallets allow you to adjust the fees before sending the transaction, and some set them themselves at the optimal level.

The speed of the transaction depends on the size of the commissions:

• Large – the operation will be quick.
• Low – the payment will take a long time and may even freeze. It is better not to risk and not to underestimate the commission too much.
• Average – the optimal ratio between speed and costs.

The more the network is loaded, the higher the optimal commission will be. The fees go to the miners as a reward for their work in confirming transactions, so miners prioritize those payments where the commissions are high.

Where to buy bitcoins

The main options for buying bitcoin:

• In online exchangers, you can exchange almost any payment system for cryptocurrency: WebMoney, YuMoney, Qiwi, Sberbank, Privat 24.
• You can buy Bitcoin (BTC) on crypto exchanges, for example, Binance, Currency.com, Bybit, EXMO, FTX. After purchase, bitcoins can be transferred to any other wallets for storage.
• Many of the wallets listed in this article allow you to directly pay for the purchase with a card, and the coins will be credited to the wallet. An example is Trust Wallet.
• P2p platforms make it possible to trade directly with other users, including paying for purchases in cash.
• Bots in Telegram. Examples – @Baksman_wallet_bot, @BTC_CHANGE_BOT. Allows you to buy bitcoin for fiat, paying by almost any means: from bank cards, electronic payment systems, in cash.
• Payment systems. An example is Payeer. Wallet + exchanger + exchange allows you to freely operate several popular currencies and cryptocurrencies within one account.
• Cryptomats. Devices that resemble ATMs, but with the ability to buy crypto for cash.

At the time of purchase or withdrawal, you must specify the address of your BTC wallet.

How to top up a bitcoin wallet

To receive bitcoins to a personal wallet, you need an address. You need to go to the “Receive” section, which is in any wallet, and copy the alphanumeric code provided or generate another one. Then tell the sender this address. He can send bitcoins to it. You can also get a QR code for quick transfers from your mobile phone.

For example, we will transfer money from the AdvCash wallet.

We go to the already created bitcoin wallet in the blockchain service: https://blockchain.com/ and, going to the “Deposit” section, copy the address of our Bitcoin wallet.

Next, go to the AdvCash website, specify the address and transfer to the Bitcoin wallet:

The sent money will be instantly displayed in the wallet on the blockchain.info service:

Benefits of Bitcoin

Advantages and differences of bitcoin from the usual traditional electronic money and wallets:

• Decentralization. Bitcoins are used to pay for purchases on the Internet, trade currencies on exchanges, but the key difference lies in dispersion. The network remains without the control of a central authority, distributed among the participants, which automatically become part of it. No one has the ability to impose rules or restrictions on a currency. And also in case of a possible fall of a part of the network offline, the system will continue stable operation without fail.
• Simplicity. It is easier to open an account with bitcoins, you just need to create a wallet for this cryptocurrency and start using it.
• Anonymity. The use of cryptocurrency does not require the input of personal data. Bitcoin wallet addresses are not tied to a name, address, personal information, and you can create an infinite number of them. However, if you need to interact with fiat, for example, exchange cryptocurrency for rubles or vice versa, then many services now require identity verification.
• Transparency. As opposed to anonymity, bitcoin tracks the history of transactions and builds a consistent string, i.e. blockchain. The chain consists of blocks containing information about transactions based on a personal bitcoin address. Any user can have information regarding the total balance at a particular address in the network. If the owner of the wallet did not disseminate information about his involvement in this bitcoin address, no one will know about it. Those who want to get full anonymity create a different bitcoin address for each transaction and use bitcoin mixers.
• Small commission. Banks charge large amounts for cross-border payments, while Bitcoin charges a relatively small fee for confirming a transaction on the network.
• Quick transfer. Payments in the bitcoin network are processed quickly (up to 1 hour) regardless of who and where they are sent. In banks, the transfer can take up to 3 days if you send funds to another country.
• Irrevocable transactions. Once the bitcoin has been sent, there will be no refund. You can return the cryptocurrency in case of agreement with the recipient.

Now bitcoin is considered an important trading and investment tool, and even large corporations use it as such.