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The 8 Best Bitcoin Wallets For 2024 Editorial

Even people who don’t trade frequently should consider a hardware wallet to safeguard their most important assets. You’ll need to transfer crypto into your hardware wallet from elsewhere, such as from a crypto exchange. Some wallets may have an incorporated exchange that allows you to trade crypto while the device is connected to your desktop computer or mobile device. Cold wallets store your digital keys offline on a piece of hardware or sheet of paper.

Blueprint does not include all companies, products or offers that may be available to you within the market. This information is often in the form of a QR code that can be scanned when you want to access your bitcoin. Although this seems rudimentary, it’s actually considered the safest possible way to store your bitcoin as it’s completely offline. Blockchain is sometimes referred to as a web wallet since it is cloud-based.

This app can also be used as a wallet, but it’s entirely tied to the exchange. It acts as your key custodian and therefore stores your tokens in a brokerage account rather than on a personal device. This is certainly easier, but this also comes with some risk considering the long history of exchanges like this being hacked and robbed.

Best Bitcoin and Crypto Wallets

Hardware wallets are therefore best suited to the buy-and-hold crowd, those dealing with very large sums of crypto, and the ultra-paranoid. While there are plenty of free software tools to help you manage your portfolio, a physical device (known as a hardware wallet or “cold storage”) offers certain advantages. As noted by Kraken, hardware wallets are one of the most effective ways for a user to protect their private key and are a must for investors or traders who are managing extremely large sums of crypto.

Best Bitcoin and Crypto Wallets

We’ll explore this further in the next section, although it typically involves checking the type of encryption on offer and deciding whether to use a hot or a cold wallet. The downside to this approach is that those with paper wallets still eventually need to use a crypto wallet app to spend or transfer digital assets. We’ve already discussed what crypto wallets are, but there various types of wallets on offer with a litany of language that can leave beginners confused. According to a report by TripleA, it’s estimated that over 420 million people worldwide own crypto.

The best cryptocurrency wallets offer secure storage for all types of crypto investors, accessible user interfaces, mobile access, low trading fees, and more. Its prices range from around $79 to $149, and Ledger can integrate with many popular software wallets such as and Guarda. Ledger has a highly rated mobile app, plus a dedicated desktop app, and its developers are in the process of rolling out a browser extension. Ledger also has two-factor authentication available, and a library of educational content for users. Coinbase Wallet is known for being one of the easiest-to-use cryptocurrency wallets available on the market.

If you’re looking for additional security, especially if you have a large amount of bitcoin to protect, a hardware wallet might be the best option. These offer a form of cold storage and are sometimes dubbed as being pricey alternatives to software wallets. Although, with the top picks coming in at below $100 apiece, it doesn’t seem like too big of a stretch to protect your precious coin. One of Jaxx’s main selling features is that it offers storage for dozens of cryptocurrencies.

All of the crypto wallets in our list are non-custodial, meaning you’ll have full control over your private key (we advise using a secure password manager), without which no transactions can be made. While it’s unlikely that a major crypto exchange will get compromised or dissolve, they are still relatively new businesses (compared to banks) and are frequently targeted by the bad kind of hackers. ELLIPAL offers a user-friendly experience facilitated by its intuitive interface and simplified transaction process. Users can easily initiate and confirm transactions through the ELLIPALApp, leveraging the device’s built-in camera for QR code scanning.

Trezor has integrations with other crypto firms such as Exodus, though it also provides built-in services such as staking and crypto purchases through its software products. It has a desktop offering, as well as a mobile app (Trezor Suite Lite) for Apple and Android. There is a large selection of hot wallets on the market, and most of them can support hundreds or even thousands of cryptocurrencies. They also generally can hold at least some types of NFTs, or non-fungible tokens, and many connect directly to exchanges where you can buy or sell crypto. Electrum is a software wallet that allows users to store, send, and receive Bitcoin. It was created in 2011 by Thomas Voegtlin and has since become one of the most popular wallets in the cryptocurrency space.

One good thing here is that the wallet doesn’t need to be backed up. Plus, you can sync across devices which is ideal if you tend to switch between, say, a desktop and phone. Although, having information in the cloud is arguably less secure than only having it on your device. Blockchain is a popular wallet that enables you to store both bitcoin and ether, the ethereum network token which is currently second to bitcoin in terms of value. Founded in Luxembourg in 2011, it’s one of the oldest and most widely used wallets.

Best Bitcoin and Crypto Wallets

Whatever the vicissitudes of the crypto market, investors remain committed to bitcoin as both a buy-and-hold asset and as a means of transaction. However, you won’t be able to recover your funds if you lose your private key with and there are relatively high fees. DeFi wallet also allows you to deposit view, share, and deposit NFTs across multiple blockchains. BlueWallet is a robust, mobile Bitcoin wallet offering a user-friendly interface offering straightforward integrations with the Lightning Network.

Best Bitcoin and Crypto Wallets

Backup and restoration is available in case you lose a device or simply want to create a backup copy. This is an even older coin exchange, founded in 2011, and is also based in San Francisco. Its longevity is a testament to its reliability and this exchange has a solid reputation when it comes to security. It supports trading between several fiat currencies, including Euro, Japanese Yen, US Dollar, and Canadian Dollar, and more than a dozen cryptocurrencies. Accessible interface – An accessible, intuitive user experience is always welcome, regardless of whether you’re a crypto veteran or a newbie.

  • This is because it uses “cold storage,” meaning users’ private keys are kept offline and safe from threats.
  • Its longevity is a testament to its reliability and this exchange has a solid reputation when it comes to security.
  • If you plan to store a large amount of coins or tokens for any length of time, we recommend using a cold wallet.
  • Electrum works on Windows, macOS, and Linux, and can be used in conjunction with popular hardware wallets like Trezor and Ledger for added protection.

If anything, the breach proves how secure Ledger’s cold storage is, as the hackers could not access the hardware wallets. We looked at over 25 crypto wallets and evaluated them based on security, functionality and cost. Because crypto wallets come in hot and cold varieties, we considered different factors for each. For instance, the cost of a hot wallet is hard to establish due to variable fees, but cold hardware wallets are physical products that you must buy at a retail price.

Many of the best Bitcoin wallets also offer two-factor authentication and biometric verification to enhance security further. There are even multi-signature wallets, which means they have two private keys rather than one. When choosing a Bitcoin wallet, it’s also essential to thoroughly research the wallet’s security features.