Best Bitcoin Wallet
Without a Bitcoin wallet, you can’t send or receive Bitcoin payments. So before you get bitcoins, you’ll need to buy, download, or create a bitcoin wallet
Online or Software Wallets
Security level Medium
Online Wallets – These are accessed on the web from any internet connected device. Used by anyone. Typical holding wallet for coins left within an account on an Exchange (aka Coinbase)
Software – Wallet applications downloaded to your phone, computer or tablet.
- Free to download
- Good starter Bitcoin wallet
- Many different option to choose from
- Easy to download to a portable device for face to face truncations with vendors or peer to peer transactions.
Because hot wallets run on internet connected devices there is always a risk of theft. You shouldn’t store any significant amount of bitcoins in a hot wallet, just as you would not walk life saving as cash in your pocket wallet.
These are physical devices used to store your Bitcoin and Alternative Crypto Currency. They provide extra security against compromised computers or untrusted connections, by having the private keys generated, stored and the transactions signed within a PIN protected external device. Essentially, they are small computers or smart cards built for purpose of generating Bitcoin private keys offline, they securely sign transactions in the same offline environment.
- Keys can be backed up in encrypted paper wallets in case the device is destroyed.
- Immune to viruses
- Can be used securely and interactively, as opposed to a paper wallet which muse be imported to software at some point.
- There is a cost to purchase these devices but there are several different brands to choose from.
True cold storage means that private keys have never been on a networked computer or device. The private keys have been generated offline without any intermediaries. ex: using Bitcoin core on an air gapped computer. Conventional Cold Storage an offline medium for storing bitcoins that only goes online to sign transactions. This is impractical for daily use, but using the correct process, is by far the most secure storage method.
- On a USB drive or other data storage medium
- On a paper wallet or physical bitcoin containing a private key
- Online on encrypted media, where the encryption key is stored and thetransactions signed within a PIN protected external device.
Hard-wallets: A few of our favourites.
The TREZOR is a very small computer rather than a smartcard. Private keys are still generated offline.
TREZOR creates a seed at start up ( a 24-word code to reinitiate your coin balance on a different device in the event that the original Trezor is lost or destroyed). The TREZOR has a built in screen where the seed is displayed and copied down during backup. TREZOR is an offline device meaning extra security since the seed is never displayed online.
Extra protection can be built in with a passphrase added to the 24-word seed. Useful at preventing anyone who finds someone else’s 24-word seed from access to the stored Cryptocurrency. If the optional passphrase is added, an attacker still wouldn’t be able to access funds without both the seed AND the passphrase. Word to the wise: If the passphrase is forgotten, it cannot be recovered.
The Opendime: The first Bitcoin Bearer Bond or called a Bitcoin Stick. Opendime is a small USB stick that allows you to spend Bitcoin like a dollar bill. Pass it along the same way you would a dollar bill or silver coin. Opendime can connect to any USB to check balance, and can be unsealed to spend online.
- Acts like a read-only USB flash drive. Works with any computer, laptop, and phone.
- A QR Picture and Text file inside contain Bitcoin address and support.
- The private key is generated inside the device, and is never known to any human, not even you!
- Give an Opendime to anyone. Pass it on multiple times! Simple as a handshake. No miner fees, no confirmation delays.
- You have got the private keys in the device. This is physical Bitcoin as it was meant to be to just hand it to someone and they have got it.
- Uses Bitcoin message signing, normal (non HD) bitcoin payment addresses and private keys in WIF format.
The Ledger Blue is the latest generation product from Ledger. A large touchscreen to securely manage transactions and complex smart contracts. Built upon the Blockchain Open Ledger (BOLOS) platform, a powerful and flexible operating system. Powered by a lipo rechargeable battery and communicate with USB or Bluetooth devices. Ledger Blue runs multiple dedicated companion apps in full isolation on top of its firmware. The strong security model allows to add new cryptocurrencies or apps without risk of compromising the master seed. Transaction integrity is ensured by the WYSIWYS paradigm (What You See Is What You Sign). The flexibility of the device enables enterprise level usage: with all major crypto libraries embedded in the firmware, any type of blockchain can be supported.
KeepKey is a USB device that stores and secures your bitcoins. When you entrust KeepKey with your money, each and every bitcoin transaction you make must be reviewed and approved via it’s OLED display and confirmation button.
KeepKey has a unique recovery feature utilizing a rotating cipher to restore private keys with a BIP 0039 recovery seed. This means it is not necessary to store your private keys on KeepKey: the recovery process is secure enough so that KeepKey can be used as a transaction device for paper wallets.
Online & Software Wallets
Here are a few Hot Wallets we think you will like.