What is the best bitcoin wallet?

Introducing different types of bitcoin wallets

In the past, people kept their money to themselves and stored their savings in banknotes. Over time, with the advent of banks and financial institutions, the reserves of money were entrusted to these institutions. Today we all go to the bank to keep our money and by opening an account, we save our financial information somewhere. But in the case of bitcoin, there are differences in the way it is held.

In general, when choosing a bitcoin wallet, you have several general options:

• Using a software wallet
These wallets can be downloaded and installed on your mobile phone or laptop or personal computer.
• Use a hardware wallet
These Bitcoin wallets are a small physical device similar to a flash memory that must be purchased (priced between $ 50 and $ 200) and by connecting it to a laptop or mobile phone, digital assets Managed himself.
• Use of domestic and foreign exchanges
Centralized digital currency exchanges that provide the trading market are also a place to store bitcoins and other digital currencies.
• Using Online Wallets
These wallets, commonly known as bitcoin wallet sites, are another type of bitcoin wallet. By connecting to the site of this wallet, you can manage your digital assets, and in this type, there is no software or hardware, and everything is on the website and its server.

The best bitcoin software wallet

These wallets are installed as software on your laptop or computer and after installation, they can be accessed offline. Attractive user interface is a prominent feature of these wallets.

Electrum

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Is a software wallet, This means that your bitcoin is stored in a set of encrypted files on your laptop or computer. This wallet is currently available for Android, Windows, Mac (Mac OS X), Linux operating systems. This wallet can work with some physical wallets.

The big advantage of this bitcoin wallet is that you can quickly turn on your computer and view your bitcoin assets or make a new transaction. But if your computer breaks down, gets lost in a fire, or is hacked, you may lose your coins.
Of course, this software supports the recovery process and allows offline physical storage (Cold Storage) by creating keys written or printed. So you can download the software of this wallet in another system and enter your recovery phrase again to access your previous wallet.

Exodus

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Exodus Wallet is one of the most popular wallets in the field of digital currencies. This wallet is available on both laptops and computers as well as mobile phones.
Attractive user interface, portfolio presentation, digital currency sticking are also products of this digital currency wallet. In addition to providing a support file, this wallet provides users with the private key of each digital currency.

Samourai wallet

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Samourai Wallet is a Bitcoin-specific mobile wallet that focuses almost entirely on security and privacy. This wallet is very creative and offers features that other wallets do not support. Samourai wallet is basically in line with the basics of bitcoin, Decentralized, high security, transparent and convertible. This wallet is now available for download and use for Android and iOS phones.

So in terms of security, this wallet is one of the best.
On the other hand, in this wallet, it is only possible to hold bitcoins and it does not support other digital currencies. So if you want to keep Ethereum and other digital currencies in your digital wallet other than Bitcoin, this wallet will not be suitable for you.

Holding bitcoins in digital currency exchanges

Digital currency exchanges are centralized companies that have made it easier to buy and sell bitcoin and other digital currencies. Some of these exchanges have also provided a platform for trading and trading digital currencies. Bainance Exchange is the largest digital currency exchange that has provided such a platform.

In this case, you have transferred your bitcoin to an exchange wallet. In fact, the exchange stores digital currencies of all users in wallets whose private key is only available to the exchange.

As a result, you have delegated control of your assets to an exchange office. It does not matter if it is an internal exchange or you work with a #Binance exchange; In all of these exchanges, you have transferred your assets to the exchange wallet and trusted this exchange.

The best bitcoin online wallet

Blockchain

Blockchain Wallet is one of the oldest and most popular bitcoin wallets. In addition to being a place to store bitcoins, this wallet also provides a platform for buying and selling it. There are currently 64 million wallets in the blockchain wallet, making it one of the most popular wallets.

Asset control in this wallet is the responsibility of the user and in this regard, no one will have access to your private key. In addition, Bitcoin and other digital currencies can be exchanged using Exchange.

Blockchain Wallet first introduced its web version. Then it released two versions of Android and iOS. In addition to Bitcoin, this wallet supports 21 other digital currencies.

BTC.com

This wallet also supports only two digital currencies, Bitcoin and Bitcoin Cash. Private key control is completely at the user's disposal and the wallet will not have any access to it. This wallet is a product of the famous Bitmain company.

The company has been operating in the market since 2013 and in this regard, is one of the oldest in the market.

Using this wallet will not be suitable for people who want to buy multiple digital currencies because it only supports bitcoins and bitcoin cache.

Bitcoin paper wallet

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Paper wallets are the most basic and at the same time the safest bitcoin wallet. In this wallet, the private key and bitcoin address are displayed to the user and after that it can not be retrieved in any way.
In this method, there is no private key recovery phrase. Therefore, its maintenance is very important.

If you lose your bitcoin private key, your assets will be lost. This type of wallet is less commonly used.

The best bitcoin hardware wallets

These wallets look like USB and are very easy to carry around. Of course you have to buy them

Trezor

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Trezor is a physical device that connects to your computer, tablet and phone to access coins. Trezor works with multiple digital currencies and has password management, two-factor authentication and other useful features.

This wallet protects passwords and lost devices; But you should make sure that this never happens. The whole point of this bitcoin digital wallet is to keep others from stealing your bitcoin; So keep in mind that the recovery process is not necessarily easy.

Ledger

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Ledger Wallet offers two models of hardware wallets: Ledger Nano S and Ledger Nano X. Ledger is one of the best Bitcoin hardware wallets.
In addition to Bitcoin, there are other popular digital currencies in this wallet. This Wallet is a hardware device similar to a USB flash drive that connects to your laptop, computer and mobile phone. The Ledger Nano S is priced at € 59 and the Ledger Nano X is priced at € 119.

Both wallets give you a 24 word retrieval phrase. Whenever you want to spend ether, Ledger signs it using the private key stored on the wallet.

Conclusion

If you choose the right bitcoin wallet to hold your assets, you can be sure of the security of your bitcoins.
Of course, do not forget to follow all the tips and whatever your chosen wallet, do not give your private key to others and keep it in a safe and secure place.

It is generally recommended that you use hardware wallets to store large amounts of bitcoins to minimize the possibility of hacking.

Don't forget to share your thoughts and experiences about using different types of bitcoin wallets. 😉