The 7 Best Bitcoin Wallets That You Should Use For Storing BTC
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?On Bitcoin exchanges like Binance, BitMEX or hosted Bitcoin wallets such as Coinbase or CEX?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.If you don’t know, consider reading this guide on private keys, and the MtGox hack.So now the question is, where should you keep your bitcoins?Here at Coinsutra, we don’t write about things that we have not personally used.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.Now that you know what to look for in a Bitcoin wallet, let’s check out the top 5 best Bitcoin wallets.The Best Bitcoin Wallets: (Hardware, mobile & desktop)
1. Ledger Nano XLedger 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:BitcoinEthereumLitecoinRipple (XRP)Binance chain (BNB)DashCardona (ADA)EOS (EOS)USDTTronMonero (XMR)All ERC 20 TokenUSDCBAT (Basic attention token)This is by far the best option that you have. The hardware wallet is priced at $119 and offers free shipping. Buy Ledger Nano X
2. Ledger Nano SThis 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)PoSWARKUbiqExpanse (EXP)PIVXVertcoinViacoinStealthcoin (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.Check out other supported currencies on Ledger here: Which Cryptocurrencies Are Supported By The Ledger Wallet?Buy the Ledger Nano S nowNote: You should always use a hardware wallet when you have a lot of bitcoins or altcoins. Watch this video by Coinsutra’s YouTube channel to learn how to set up your Ledger Nano S.
3. TrezorPresented 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 – BitcoinETH/ETC – Ethereum/Ethereum ClassicNMC – NamecoinLTC – LitecoinDOGE – DogecoinZEC – ZcashDASH – DashUpdate: 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.Buy Trezor now
4. ExodusExodus 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.Download the Exodus wallet
5. Trust WalletTrust 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.Download Trustwallet.