I am sure you have heard about Bitcoin by now.

And I’m also pretty confident that some of you might even own some bitcoins!!

 

But where are you keeping those bitcoins?

If that’s your answer, then you are putting the ownership of your bitcoins under serious risk!!

 

These services keep your Bitcoin private keys under their custody on your behalf. This is not a safe practice, as your Bitcoin private key is the only way to claim your bitcoins.

Moreover, I think one needs to look for the following things when selecting a reliable Bitcoin wallet, irrespective of whether it is a software or a hardware wallet:

 

Control private keys – A wallet where you own and control your keys.

Backup & security features – Seed backup keys and pin codes.

Developer community – Active development community for maintenance.

Ease of use – Elegant UI for fast and easy use.

Compatibility – Compatible on different operating systems.

The Best Bitcoin Wallets: (Hardware, mobile & desktop)

1. Ledger Nano X

Ledger Nano X is a hardware wallet from a French start-up. This is the most modern and functional Bitcoin wallet that you can purchase in 2019. This hardware wallet works with desktop and mobile and comes with in-built battery.

 

From the security perspective, it has 2 chips (1 is for secure element) which ensures your private keys never get exposed to the world.

You can store up to 100+ cryptocurrencies and using Ledger Nano X, you can use it as a login for many exchanges.

 

Some of the supported coins by Ledger Nano X are:

 

Bitcoin

Ethereum

Litecoin

Ripple (XRP)

Binance chain (BNB)

Dash

Cardona (ADA)

EOS (EOS)

USDT

Tron

Monero (XMR)

All ERC 20 Token

USDC

BAT (Basic attention token)

This is by far the best option that you have. The hardware wallet is priced at $119 and offers free shipping.

2. Ledger Nano S

This the early version of Ledger Nano X and  It’s like a USB drive which connects to any USB port. It doesn’t have a battery and only starts up when plugged into a computer (or mobile device).

 


The Ledger doesn’t come with an anti-tampering sticker as its cryptographic procedure checks for the integrity of the instrument when powered on.

 

It also comes with an OLED screen and two side buttons for confirming transactions.

 

When you configure your Nano S as a new device, you need to set up your pin code in order to secure your wallet. After that, note down and store your 24-word recovery phrase. This recovery phrase can be used anytime to restore your bitcoins.

With this wallet, your private keys are stored offline, so you need not worry about the safety of your coins.

 

Nano S is also the cheapest multi-currency hardware wallet ($120).

 

The Ledger Nano S wallet supports the following major cryptocurrencies:

 

Bitcoin (BTC)

Bitcoin Cash (BCC)

Ethereum (ETH)

Ethereum Classic (ETC)

Litecoin (LTC)

Dash (DASH)

Dogecoin (DOGE)

Zcash (ZEC)

Ripple (XRP)

Stratis (STRAT)

Komodo (KMD)

PoSW

ARK

Ubiq

Expanse (EXP)

PIVX

Vertcoin

Viacoin

Stealthcoin (XST)

NEO (Works with NEON Wallet and supports GAS too)

Bitcoin Gold & more…

Also, it is a multi-currency wallet where you can store/manage more than 700 coins and ERC20 tokens all at once place. And you can see the list of all supported cryptocurrencies here.

3. Atomic Wallet

Atomic Wallet is a multi-currency custody free wallet that supports over 300 coins and tokens. This one is the first cryptocurrency wallet with decentralized cross-chain atomic swaps on board. Users can exchange Bitcoin, Litecoin and QTUM with no intermediaries. The team of Atomic Wallet plans to enable Ethereum for the swaps, as well.

 

Apart from that, Atomic Wallet provides a built-in regular exchange service for a range of cryptocurrencies, and an option to buy XRP, BTC, LTC and ETH with a bank card.

 

All these features are well crafted in one clear and comprehensive interface. You don’t need to verify your identity or register. You just download the wallet for your operating system, install it and start using. Currently, Atomic runs on a range of desktop operating systems, such as Windows-64 bit, MacOS. Linux, etc., and will be available for Android and iOS devices as well.

 

Like other non-custodial wallets, Atomic generates a mnemonic seed for your wallet and encodes private keys in your device. If you are about to store your crypto in Atomic, you must write it down and keep in a secure place, since the seed is shown only once and not sent via email.

 

The wallet supports private keys import, so you can move your funds from any other wallet to Atomic in a few clicks.

 

Interestingly, Atomic Wallet provides its interface for custom tokens, so anyone is able to add their custom tokens by importing a smart contact address. That’s a quite convenient option when it comes to ICO campaigns.

 

Regarding the latter, Atomic is planning to release its underlying ERC20 token by the end of 2018 and now is running a bounty program where everyone may participate before the public sale.

 

To sum up, Atomic Wallet seems to be a quite non-typical cryptocurrency project. In one place, you can manage 300+, exchange and buy some of them, try innovative Atomic Swaps, get access to custom tokens and participate in bounty. And all these features are performed in a non-custodial manner.

 

4. Trezor

Presented by SatoshiLabs, a Czech Republic-based company, Trezor is the world’s first Bitcoin hardware wallet.

 

It is a small device with an OLED screen, which connects via a USB to your personal computer or phone. Its fundamental purpose is to store your private keys offline and sign transactions.

 

The initial setup is a bit different from the Ledger Nano S.

 

With Trezor, when you first connect it to your PC, it shows a nine-digit pin code on its OLED screen. You need to enter the same pin code by clicking on your corresponding PC screen. This code is generated randomly every time you connect Trezor and makes sure that even a tampered PC can’t get your pin.

 

After entering the pin, you will be asked to write your 24-word recovery seed. Again, you need to keep your recovery key safe because this is the only way you will be able to restore your bitcoins.

 

After that, using it is pretty similar to the Nano S.

 

Trezor now supports many cryptocurrencies:

 

BTC – Bitcoin

ETH/ETC – Ethereum/Ethereum Classic

NMC – Namecoin

LTC – Litecoin

DOGE – Dogecoin

ZEC – Zcash

DASH – Dash

Update: Trezor now supports more than 600 cryptocurrencies/tokens for more details read: Which Cryptocoins Does Trezor Hardware Wallet Support?

 

Trezor can be used with apps such as TREZOR Wallet, Mycelium, and Multibit HD.

 

It is available now for Windows (version 7 and higher), OS X (version 10.8 and higher), and Linux. You can also use it with your Android devices.

 

It is available in 3 colors – white, gray, and black – and costs $110.

5. Exodus

Exodus is a free to use, desktop-only wallet crafted by JP Richardson and Daniel Castagnoli in mid-2015.

 

It is the world’s first multi-cryptocurrency desktop wallet.

 

Simply looking at Exodus.io, you can tell that the company is putting a lot of effort into creating a good user experience.

 

You can store your bitcoins without worry, as Exodus has no hosted servers or logs. At present, it supports cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, Golem, and Augur.

 

No registration or identity verification is needed to start using Exodus. But you certainly need to take a backup of your seed key!

 

If you want to access and spend your funds, you are required to set a password.

 

While taking a backup of your seed key, it also asks for your email id for sending you a one-click link recovery feature. You can always use this email link along with your password to restore your Exodus wallet.

 

However, one thing to remember while using Exodus is that you can only take a backup of the seed key when you have some balance in your wallet.

 

I like using this wallet because a pie-chart at the center shows your entire token portfolio in one glance. The UI is very nice.

 

Exodus is the first desktop wallet to have ShapeShift built in for exchanging cryptocurrencies.

 

And if you need help, you can get personal support from the founders via email.

 

It is available on Mac, Linux, and Windows.

6. Trust Wallet

Trust Wallet is the world’s leading multi-asset digital wallet which stores both bitcoins and altcoins.

 

It currently supports 13 crypto coins and is an ideal choice for multi-cryptocurrency users.

 

With an active development team working at lightning speed, it’s also very reliable. Altcoins such as Binance, Monero, Tether, Ripple, and many more are on their development roadmap.

 

Trust Wallet provides a seamless, frictionless, and easy to use UI. It takes no email verifications, no onboarding, and no usernames/passwords to start using Trust Wallet.

 

It is an HD wallet which comes with a seed backup key feature. The seed key helps you in controlling and restoring your crypto assets in case your device is damaged or lost.

 

You can export your private keys, and import bitcoins or altcoins from paper wallets.

 

It is available now on Android and iOS.

7. Guarda

Guarda is one of my favorite Bitcoin wallets.

 

It is an open source and well-established Bitcoin wallet with an active developer community that is always innovating.

 

This is a frictionless tool for storing bitcoins, as it requires no email verifications, no onboarding, and no usernames/passwords to get started.

 

If you are new to Bitcoin, you will love Guarda’s very easy to use UI.

 

Moreover, you control your Bitcoin private key and can always import it when you need to.

 

Guarda is non HD wallet which provides you with a 12-word backup seed key which you should write down somewhere and keep safe. In case you damage or lose your device, this backup seed key will enable you to recover your bitcoins.

 

Guarda is compatible with Ledger Nano wallets.

 

Guarda is available on all platforms.

 

Always remember: If you lose those 12 words, you will lose your bitcoins.

The Best Ways To Store Bitcoin

Name Of Wallet            Types Of Wallet            Rating

Ledger Nano X  Hardware Wallet          10/10

Trezor   Hardware Wallet          8.5/10

Exodus Desktop Wallet 8/10

Trust Wallet    Mobile Wallet 8.5/10

Guarda wallet Mobile Wallet 9/10

It’s important to store Bitcoin away from an exchange. If you don’t do this, you risk losing all of your coins in an instant.

 

Luckily, you have many online and offline wallet options available to you.

 

Understand what are Bitcoin Wallets with an example:

You have your email address based on which service you are using like emailaddress@service.com.

 

This is a public address (i.e. everyone can see it, and you can share it with anyone for receiving emails). And you have a software/service like Gmail or Hotmail through which you send and receive your mail.

 

And you have a password to log in to your email service to send mail on others’ email IDs (others’ public addresses). But your password is confidential and private for your own use and theirs is confidential and for their own use.

 

And the software/service understands both the public address (emailaddress@service.com) and your password (private address) to successfully log you in and send/receive/store emails.

 

Similarly, for sending/receiving/storing bitcoins, we require a wallet on the Bitcoin network, which is nothing but a place which stores our public address (a place to receive bitcoins) and a private address (to send/spend bitcoins).

 

So in short, the place where you have both your bitcoin address to receive bitcoins and the private key to send/spend bitcoins is called a Bitcoin wallet. In an even more simplified way, a wallet is a digital file which stores your bitcoins.

 

Bitcoin Address + Private Key = Bitcoin Wallet