4 May, 2020
Choosing a Bitcoin Wallet can be challenging, especially for cryptocurrency beginners. Knowing the key usability, privacy, and security features will lead you to the right decision.
Cryptocurrencies have become substantially ingrained in our society and the financial markets. Many services now support Bitcoin payments, including famed household names as Domino’s, Starbucks, and Whole Foods and it is no longer a novelty to have some Bitcoin stashed away for rainy days.
The next important step after acquiring a certain amount of BTC funds is choosing the best Bitcoin wallet for your daily needs. Experienced Bitcoin owners use a variety of crypto wallets to take advantage of the exclusive features offered by each.
PixelPlex has been developing blockchain wallets since 2013 and we know what needs to be under the hood of the best cryptocurrency wallet. Let us guide you through the process of making the most optimal BTC wallet choice and advise you what features to look out for.
A multitude of factors needs to be considered when choosing a bitcoin wallet depending upon your individual requirements and plans to make use of these funds. The list of features offered by various providers stretches to several dozens. Here we break down the most crucial ones that play the deciding role in choosing the best Bitcoin wallet:
It’s quite hard to pick out just the right Bitcoin wallet for your needs, especially when the market is oversaturated with cryptocurrency payment solutions. To help you decide, we’ve come up with this list of best bitcoin wallets for 2020, ranked according to the abovementioned list of features.
Bitcoin Core wallet is fully open-source, offering complete transparency for your transactions. This desktop wallet is often criticized for an inconvenient UI and its limitations, as it has fewer features compared to other crypto wallets.
It’s also very resource intensive, as you have to download and run a full Bitcoin core node to use the wallet. This consumes a significant amount of memory. That being said, it is often regarded as the best Bitcoin wallet in terms of security, privacy, and stability. It’s fully compatible with the Tor network and uses a highly decentralized peer-to-peer network for payments.
The Echo wallet operates over a revolutionary ECHO blockchain protocol powered by BTC and ETH sidechain functionality. This creates a gateway between Bitcoin payments and decentralized finance with Ethereum DApps. An integrated DApp store allows you to easily explore ECHO’s DeFi world.
The wallet also takes advantage of the migrated 0x protocol, allowing for streamlined decentralized crypto exchange. The list of features includes BLE payments, Tor and VPN support, private key backup with Shamir’s secret, and an automated fee calculator for faster transactions. Echo also includes a crypto DNS, so you can forget typing in the long addresses and simply indicate your recipient’s username to send funds.
Ledger Live is the best crypto wallet app backed by the industry standard hardware wallet offering top security. Using this app you can store, send, and receive Bitcoin funds while taking advantage of maximum security ensured by cold storage.
It features most of the benefits provided by other desktop and mobile bitcoin wallets, including trading coins and Bech32 support. Overall it’s a decent everyday Bitcoin wallet that you can also use to make transactions on the go via the mobile app.
Coinbase protects your crypto funds using Secure Enclave and biometric authentication technology. It is the best bitcoin wallet app for its integrated DApp browser that opens the door to decentralized exchanges, jobs, digital collectibles, and other facets of the decentralized financial system.
The crypto wallet has a user-friendly interface that even first-time crypto owners will find very convenient and easy to use. One of its outstanding features is the real-time price chart which shows the crypto assets’ current circulating volumes and other significant details. With Coinbase you are also able to send transactions by indicating just the wallet owner’s username.
Electrum is deemed by many as the most secure cryptocurrency wallet for Bitcoin and that is true for a reason. It originated when crypto wallets were beginning to gain traction and has been continuously evolving, accumulating best crypto space ideas since its inception back in 2011.
This wallet shares the same unappealing UI as the Bitcoin Core wallet, but packs more advanced features. These include Replace-by-Fee for reverting transactions by paying a higher fee, creating labels for addresses, Bech32 support, transaction history export, and more.
Another core feature is full compatibility with major hardware wallets, including Ledger Nano S, Trezor, and KeepKey. This is very useful if you favor the uncompromised security of your funds powered by cold storage. Electrum is available via desktop and mobile Android Bitcoin wallet app.
Trezor is a hardware wallet able to sign transactions while connected to an online device via its web interface. Besides Bitcoin, it supports over 1000 other cryptocurrencies and, depending on the hardware capabilities of your device, offers features like U2F and FIDO2 authentication, Shamir backup, and password manager.
Acting as cold storage for your Bitcoin, it provides full transparency and control over your funds. Trezor allows you to plug it into any other web, desktop, or mobile bitcoin wallet and use it in any project that has it supported.
Wasabi is an open-source, non-custodial Bitcoin desktop wallet. It has everything you need for secure and convenient peer-to-peer payments: built-in Tor, advanced CoinJoin transactions, and UTXO management.
Wasabi’s CoinJoin is based on Zero Link protocol which gives an additional layer of privacy to users’ transaction history. Among other features, it has Bech32 support, dynamic fee suggestions, advanced replace-by-fee, and Lightning network integration.
BlueWallet is one of the best mobile wallets for Bitcoin. It is open-source and offers such features as plausible deniability, flexible fees, replace-by-fee, and Lightning support. The crypto wallet has a simple and clean UI allowing you to manage your transactions quickly and conveniently.
Plausible deniability allows you to set a password that decrypts a fake wallet which is useful when you are being forced into unlocking your wallet. BlueWallet also gets rid of all crypto management technicalities such as maintaining a channel or keeping track of incoming and outgoing liquidity.
Developed with privacy and security in mind, Samourai keeps your transactions masked and your funds safely stored. It generates new addresses for every transaction to protect users’ metadata and prevent hackers from using your identity to steal funds.
With such sophisticated features as being able to run under any network conditions and having its own full Bitcoin node that guarantees you full sovereignty, Samourai is arguably the best Bitcoin wallet for Android.
If you’re looking for the best iOS Bitcoin wallet or an Android wallet app, Blockstream Green is one of those you should consider. In addition to having strong security and control, it offers a slick UI for conveniently storing your coins and easily making transactions.
Blockstream introduced an innovative multisignature model with the private key kept both by the user and on their servers. This blocks anyone from taking advantage of your funds even if you lose your device. Bech32 support, customizable fees, and replace-by-fee are only some of the features of Blockstream. Full compatibility with Ledger and Trezor wallets combines benefits of cold storage with the advanced functionality of the Blockstream Green online wallet.
The Bitcoin Wallet is a free and open-source payment app for your Android device. It is swift, secure, and combines the most important features for users to transact using Bitcoin. Nothing more and nothing less.
It supports sending and receiving coins with NFC, Bitcoin URL, and QR codes. The wallet allows you to pay via Bluetooth when your device is not connected to a network. Bitcoin wallet also supports Bech32, replace-by-fee, and the Tor network.
Keymaster is developed by Casa, a crypto custody company providing tools and services to increase the security and privacy of Bitcoin transactions. Their flagship, the Keymaster mobile Bitcoin wallet lets you secure your coins with multiple multi-signature setups.
This wallet offers 3 to 5 multi-signature security which means you can protect your funds with 5 different devices. It’s very useful for multiperson usage by families, teams, startups, etc. Since it is a paid software, this gives you the advantage of having a dedicated 24/7 customer service team who can walk you through solving any user problems.
If you’re looking for a simple app to carry out day-to-day BTC transactions, Mycelium can be your best Android crypto wallet. The wallet protects your account by importing the private key during the transaction and deleting it after it is no longer needed.
Being a hierarchical deterministic (HD) wallet, Mycelium allows you to safely store your coins, manage accounts, create backups, and instantly trade BTC at profitable rates. It also gives you the ability to set priority-based miner fees according to your needs.
BRD is a non-custodial, open-source, and arguably the best mobile Bitcoin wallet. It offers an appealing and extremely intuitive UI. Many say it’s one of the easiest Bitcoin wallets on the market. BRD has support for Bech32, enables Bitcoin trading, and is available for both iOS and Android.
Armory is a desktop crypto wallet that sets security as its top priority. Its capabilities include setting up multiple wallet addresses, multi-signature support, and decentralized lockboxes which allow Bitcoin holders to store their private keys offline.
The wallet maintains its impenetrable protection of your funds via the Glacier Protocol, which is one of the most secure Bitcoin cold storage systems.
BTCPay is a very popular payment processing tool with an internal Bitcoin wallet. It’s a great option if you need to streamline your payments across your eCommerce point-of-sales. It’s also free and open-source, with a global community of contributors who continuously maintain and develop the platform.
The internal wallet acts as cold storage and is primarily used for accepting payments. However, spending funds from the Bitcoin wallet is also available by providing the HD private key or the mnemonic seed. The great thing about BTCPay is that they’ve recently introduced PayJoin (Pay to Endpoint or P2EP), which is a special kind of coinjoin transactions with increased privacy.
The BTCPay Server needs to be deployed in order to start using the wallet.
It would be fair to call Edge the best Bitcoin wallet for beginner users. It has a very convenient UI coupled with strong security features and it also provides a directory of nearest businesses accepting bitcoin for your convenience.
Edge offers a username and password backup alternative to the traditional lengthy mnemonic phrases. To add even more to the convenience, you are able to secure access to your Bitcoin wallet with either PIN or Touch ID. Security with 2FA, SegWit support for streamlined transactions, and other useful features are also included in this handy wallet.
CoinSpace is a free, open-source HD Bitcoin wallet having a light node that does not require additional space for blockchain storage on your device. It is designed for ease of use and is simple & straightforward even for crypto beginners.
Its prominent features are dynamic fee suggestions, a built-in ShapeShift exchange, client-side encryption with AES-256, and changing addresses for transactions to prevent leaking metadata.
Coinomi is a security-first, cross-platform, multi-chain HD Bitcoin wallet. It’s DeFi-ready, with a built-in DApp browser and native Web3 support. Both the mobile and desktop versions of the wallet have a UI that is a treat for the eye. You won’t be wrong to call Coinomi the safest crypto wallet as it has neither been hacked nor compromised since its inception in 2014.
The wallet supports more than 125 blockchains besides Bitcoin and thousands of tokens. It features Crypto DNS to allow using aliases for addresses of major services and chains. Coinomi has multiple built-in exchanges via partnerships with the top providers on the market.
Exodus is called the best BTC wallet for its 24/7 customer support and one of the most beautiful UI designs. The seamless interface is very easy to navigate from both mobile and desktop. Your crypto assets are conveniently displayed via a pie chart.
Besides the mnemonic phrase, Exodus offers an email backup feature. Powered by ShapeShift, the built-in trade and portfolio functionality allows you to easily swap coins and keep track of the market. The Exodus bitcoin wallet is swift and convenient, with automatic fee adjustments for crypto beginners.
The BitGo wallet is a multisig HD Bitcoin web wallet with top security and intuitive design. It offers a built-in BitGo exchange platform that allows trading with dynamic rates depending on the asset volume.
A major feature is the wallet’s 3-key multisignature setup. The user initiates all transactions with the Customer Key. BitGo generates and stores the key used to co-sign these transactions after they’ve met the platform’s policy controls. Another key is stored by the Bitcoin owner for disaster recovery.
Zengo is the first non-custodial Bitcoin wallet that does not use private keys for security. Instead the wallet uses two “mathematical secret shares”, one of which is stored on your device and the other on ZenGo’s servers.
Zengo offers one-tap customer support which makes it very easy for crypto newbies to get instant help and guidance. All the transactions are run directly on the blockchain and secured by encrypted biometrics. You are also presented with instant transaction notifications in confirmation of a completed Bitcoin transfer.
Abra is a cryptocurrency investment app with non-custodial HD Bitcoin wallet architecture. It allows users to exchange over 100 different coins from your mobile device. It also has stablecoin deposit and withdrawal opportunities.
The Abra Bitcoin wallet app allows you to exchange currency using Bitcoin as a base while avoiding traditional money transfer providers. It is a simple and convenient mobile cryptocurrency exchange and investment platform.
Jaxx Liberty is a non-custodial HD blockchain wallet. It uses the BIP39 industry standard to generate your mnemonic phrase. The users’ private keys and backup phrases are stored on their devices.
This Bitcoin wallet features ShapeShift integration and allows you to easily switch between cryptocurrencies. It’s seamless interface design with a comprehensive dashboard, diagrams and live charts prove to be convenient for both beginner users and crypto professionals. Tor network and VPN support ensure a high security of your transactions.
Xapo is regarded as the most secure cryptocurrency wallet for its proprietary data encryption technology. The wallet stores customer funds offline on highly secure servers that are not exposed to the vulnerabilities of internet connection. The Wall Street Journal named this wallet app the “Fort Knox of bitcoin storage”.
Xapo provides custom permissions for each of your accounts and partitions of crypto funds for every user group. Multi-factor authentication, private key segmentation, and 24/7 monitoring add to the overall integrity of this BTC wallet mobile app.
Usability, privacy, and security are the most important features to look for when selecting the best Bitcoin wallet. Most providers compromise usability by incorporating more security settings, forcing the user to go through a complicated setup process. Others focus more on usability and privacy features, providing a better user experience. It’s important to find a crypto wallet app with the right balance of features that suits your daily needs. We hope this list of hand-picked bitcoin wallets helps you make the right choice.