Every investor in Bitcoin or any other Cryptocurrency needs a wallet to store their currency. Bitcoin Wallets is a secure place to store your proof of ownership. It comes in the form of physical hardware or installs software on your computers or mobile phones.
Many services allow you to purchase Bitcoin and other services like PayPal, Venmo, and Robinhood. Most online services are Custodial wallets that help to secure, protect and hold your Cryptocurrency. These wallets keep controlling your crypto in a secure and reliable platform.
Why do you need a Bitcoin wallet?
Traders make daily Crypto transactions with large amounts of money involving in them. A large volume of Cryptocurrency does not store in an Exchange account. Always keep your large volume of currency in a hardware wallet for offline storage. A Non-Custodial software wallet or wallet app is also a secure place to control your digital assets.
In this content, you find a secure and suitable place to store your Cryptos. The best thing is that you can keep track of your private key with a super-secure password. You have to choose a higher priority, accessibility or security.
A hot wallet stores Cryptocurrency as online wallets while; a cold wallet store without an internet connection as an offline wallet. Cold wallets offer additional features to secure from hackers. These offline wallets require some extra steps to make a secure Crypto transaction. Here you can find which wallet is best for you.
Best Bitcoin wallets of 2021 – You Should Know
- Coinbase Wallet (Best for beginners)
Coinbase is the best cryptocurrency exchange in the US that makes a platform easy to trade popular Cryptocurrencies. Like Bitcoin, Ethereum, Dogecoin, and many more. It provides its Visa debit card to integrate with Apple Pay and Google. The Coinbase Wallet is a secure and reliable platform for beginners.
Users can download its app on their Android or iOS. The wallet contains a simple interface and fully integrates a company’s exchange. These features make it easy to form transactions, buy coins and tokens with traditional currency.
The Coinbase Wallet contains Non-Custodial wallets that users can fully control over wallet with the private key. Users generate a 12-word recovery phrase to sign up. Make sure there is always a difference between exchange and wallet. You have to store your Cryptocurrency on Coinbase Exchange that contains a custodial wallet.
- Trezor Model T (Best for security)
The Trezor Company makes a new user interface by replacing the Wallet Web app. It is a new leading product in the digital market.
The Model T is its second generation in the form of a Hardware wallet that comes with the same features as the Ledger Nano X. There is only one main difference; Trezor software is whole open-source that affords some additional protection. It contains code to powers the wallet available for review.
Trezor Suite designs to run on your desktop that provides high security than a web-based app. It supports up to 1,600 Crypto coins and tokens. Users can make transactions directly in Trezor Suite through its exchange.
It is in the form of an old-school stopwatch that comes with a touchscreen. The company provides you with a USB cable to connect to your computer. It provides you with the form of a microSD card to add encryption storage directly on your hardware wallet.
- Ledger Nano X (Secure and Accessible)
The Nano X is a second-generation cold storage wallet of Ledger. It integrates a live platform that is easy to understand in use. It supports up to 1800 Cryptocurrency and tokens like Bitcoin, Ethereum, and XRP. The wallet connects to your computer through a USB cable. While; mobile devices connect through Bluetooth connection
It has the main feature of a small LED screen. Users need a strong password or PIN that is a private key of the wallet. It keeps your currency secure with a private key that you do not lose your crypto assets.
- Exodus (Best for desktop users)
Exodus is a hot wallet to store your assets online and also total control over with private keys. You can make a password with 12 words to protect your crypto assets. The Exodus wallet designs to run on Mac, Windows, and Linux computers. There is also its app available for your Android and iOS devices.
Exodus has a simple interface to understand that users can easily make transactions. It supports more than 130 popular Cryptocurrency like Bitcoin, Ethereum, Tether USD, and Dogecoin. But there are some limits in the exchange to purchase crypto with US dollars and store its wallet. So, users have to buy the asset on a popular Crypto Exchange like Coinbase.
Then they can transfer their assets to Exodus. Users can purchase Bitcoin with USD. When you buy a digital asset in your wallet, it can easily exchange with other assets. The Exodus wallet is free to use, but it charges a fee for transactions of exchange.
- Mycelium (Best for mobile users)
Mycelium wallet is one of the oldest and best Bitcoin wallets that provide only mobile wallets. Users can install on both Android and iOS that contains a simple user interface. Users can send and receive Bitcoin and other digital assets like Ethereum and ERC-20 tokens like Tether USD, USD Coin, and Binance USD. They can buy and sell Bitcoin directly through its app.
The Mycelium wallet is a Non-Custodial wallet that you can access with a private key and PIN. It provides you hot storage wallet that is completely open-source. The wallet offers high-security measurements to keep your Cryptocurrency secure. It is also best for more advanced users that prefer QR codes to add more security. But it charges custom transaction fees to set up QR codes.
Conclusion
Hence you can see all the best bitcoin wallets that can help to keep your Cryptocurrency secure. You can choose any of them which is most suitable for you. There are several options for wallets with their feature as well. You are free to choose wallets according to your reliability.