When you have decided to invest and trade Bitcoins you need to think of a place in which to store the coins you earn. Keeping your coins on an exchange may not be the best thing to do as exchanges have been hacked in the past. So, a cryptocurrency wallet is what you are going to need for storing your Bitcoins. This wallet is real software storing the public and private keys so that you can send, receive, or even store your crypto coins and keep a track of the balance. Here are the best Bitcoin wallets that you can consider:
- Trezor: It is created by a company in Prague and is very accessible and convenient. Using it is hassle-free and the sleek design ensures that you can easily carry it with you wherever you go. Trezor works well with Mac, Linux, and Windows operating systems. You may simply plug it in the laptop with a USB drive and start using it. Security is high-end and it will not show your private key to anyone. The randomly-generated pin will keep this wallet secure.
- Electrum: This is perhaps one of the earliest Bitcoin wallets created in 2011 by Voegtlin. It has been altered since then and is now a client-based wallet. You can download the program and use it on your PC. You do not have to run the blockchain like other desktop wallets for Bitcoins. It has also come out with an Android wallet in recent times. It provides fast transactions, secure private keys that are encrypted, cold storage for your Bitcoins, and integration with hardware solutions like Ledger Nano, Trezor, and KeepKey. When you earn bitcoins in a quick way using automated applications like bitcoin revolution, these wallets help you store them safely.
- MyCelium: This was created by hardware engineers in 2008 and remains one of the more popular Bitcoin wallets. It is available in Android and iPhone models. It attempts to make transactions frictionless and the system is very secure, offering 5 kinds of accounts. It offers many features like secure chat services, encrypted PDF backups, QR scanner, and local trading marketplace. MyCelium is recommended for beginners because of its ease-of-use and excellent privacy and security features. It is open-source and free to use.
- Ledger Nano S: This is commonly used for storing Bitcoins and was created by the French. This is a hardware wallet that stores private keys of users in a physical device. Since they are offline, they cannot be hacked. For people not experienced in coding or lacking technical expertise, the Ledger Nano S is a good bet. It supports multiple coins, integrates with multiple software wallets, and is very cost-friendly.
- Exodus: This is a new desktop Bitcoin wallet and has advanced features. It is intuitive and easy to use, perfect for beginners to conduct transactions. It supports Windows, Linux, and Mac operating systems and you need not set it up on your PC. Users may trade between Altcoins and Bitcoins inside the wallet itself. Now this wallet supports as many as 100 currencies including Bitcoin, Litecoin, Ethereum, Qtum, etc.
- Samourai: This comes with exciting features like adjustable transfer fees, private transactions where it offers a new address each time a transaction is made, Tor and VPN supports for greater privacy, SegWit supports to implement the Lightning Network, and BIP 46 implementation for privacy of public payment addresses through creation of payment channel between both parties. Other features include Ricochet to confuse those who are trying to spy on the network, SMS commands for users to interact with their wallets remotely, and Trusted Node for sending transaction to one’s own node.
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