The concept of digital currencies is constantly evolving, and its use is constantly growing, so if you are interested in the field of cryptocurrencies, specifically Bitcoin (Bitcoin),
you will definitely need a secure digital wallet, where you can keep the secret number of your digital currencies in a safe place, providing you Regular security checks.
Therefore, this article will help you understand more about the importance of electronic wallets, and how to choose the best Bitcoin wallet that best suits your needs.
What are bitcoin wallets?
Best Bitcoin Wallet Bitcoin is different from other traditional currencies that we know, with no physical existence of Bitcoin it is difficult to know the best way to track your purchases.
In fact, all you know here is the availability of an address for your currency, in addition to a secret number for your currency,
which is the number that is attributed to a particular Bitcoin after saving it in the buyer's wallet.
On the other hand, a PIN is essential for various monetary transactions in the future.
It is therefore essential that you keep your information in a safe place, to avoid any potential electronic theft. Especially because of the difficulty of recovering bitcoins, if they are stolen.
There are several types of e-wallets, which differ from each other.
While each one of them has different features, you should research before deciding to use the best Bitcoin wallet for your cryptocurrency. The most prominent types are:
paper wallets:
It comes in the form of paper documents bearing your Bitcoin address, along with a secret code that allows you to perform various electronic transactions.
Many paper wallets use software such as QR, to allow you to quickly scan information when buying and selling bitcoins.
The main advantage of paper wallets is their great flexibility when facing cybercrime. Although you need to take security-related measures, to ensure that the document is saved in a secure manner.
Desktop wallets:
These wallets are installed on the desktop of your PC and have a high level of security, since this type of wallet does not rely on third parties to handle data.
It gives users complete control over their bitcoins, and this makes it the preferred and most popular option, for users who invest with small amounts of money.
However, these wallets limit the flexibility of bitcoin transactions, as they can only be accessed from desktop computers.
Mobile Apps:
These applications can be downloaded to your mobile phone quickly and easily. Thus, you can easily trade bitcoins at any time or place.
However, not all applications move between mobile phones, especially those running in the Android system easily, and the risk of your information being exposed increases if your mobile device is hacked, and these things happen relatively easily.
Web wallets:
This type of e-wallet is managed and maintained by third-party agencies. They may look similar to wallets available on desktop or mobile devices, except that they are related to the third party that manages them.
solid equipment:
Many people think that this type of wallet is the most secure.
Independent external pieces of devices, such as USB sticks, are used to secure their private digital codes and information.
Thus, they enjoy a greater degree of protection from intrusions and computer viruses.
Best Bitcoin Wallet of the Year:
Now that we know more about the rationale behind Bitcoin wallets, we are going to share with you the best Bitcoin wallets for 2021.
But always remember when you choose a particular Bitcoin wallet, that due diligence and deep research must be done, to make sure that you find the right Bitcoin wallet for you.
1. Coinbase
Features: Easy to use and suitable for beginners.
Type: website.
Coinbase has become one of the largest online platforms where you can buy or sell bitcoin securely and these are the main strengths of this platform.
So it is only natural that Coinbase has its own best digital bitcoin wallet.
On the other hand, the best Coinbase Bitcoin wallet is very easy to use, as it allows you to sync your account with your bank account, along with buying many different cryptocurrencies easily.
You can also benefit from strict security checks, Coinbase has learned from competitors who have fallen into the hands of hackers.
2. Coinmama
Features: ease of use
Type: Website
Coinmama is both an exchange and a wallet. The exchange allows users to buy bitcoins in $100 increments quickly and easily from the home page.
Unlike other exchanges that buy and sell on the open market, Coinmama funds trade from the property of the company itself, and it is a financial business service registered in the USA.
It's worth noting that this high security comes at a price, as Coinmama's fees are high compared to other platforms.
However you can buy bitcoin through Coinmama but it is important to note that you cannot resell it.
This may not necessarily be a downside and may be a perfect fit for those who simply want to buy bitcoin but don't need an exchange.
3. Uphold
Launched in 2015, Uphold is the best Bitcoin wallet and has since handled over $4 billion in cash transactions, trading in more than 184 countries with more than 30 currencies.
Uphold allows clients to trade directly between different asset classes in a single transaction.
You can trade 58 digital currencies, along with precious metals such as gold, silver, platinum and palladium.
In addition to partial shares in stocks of US companies such as Amazon, Tesla and Apple.
On the other hand, Uphold is also focusing on Socially Responsible Investing (SRI), by providing an opportunity to trade carbon tokens for more than just a financial return.
This is popular with new traders, as there are no commission or account fees and no withdrawal or deposit costs, just trading fees.
Uphold offers a full price for each deal that includes fees, so you'll know exactly how much the deal costs.
Uphold has a very simple trading platform available both on the web as a desktop app and on the mobile as well.
Uphold also offers a debit card option, where you can pay for goods and services using any asset in your wallet, and earn cashback plus crypto on your purchases.
Finally, Uphold has several suitable wallets for different currencies with no holding costs, which is great for traders who buy through the exchange.
Where there are separate wallets for: Bitcoin, XRP, Ethereum, Litecoin, Bitcoin Cash and Bitcoin Gold.
The best Uphold Bitcoin wallet also has strict security standards, and about 90% of all cryptocurrencies that Uphold holds offline are stored in cold storage.
You can use Uphold wallets to make payments to sellers as well as store and transfer funds.
4. Gemini
Best Bitcoin wallet Gemini is the first security platform for buying and selling cryptocurrency, founded in 2014 in New York City by (Tyler and Cameron Winklevoss), the well-known twins who sued (Zuckerberg) for creating Facebook.
Gemini is one of the few regulated cryptocurrency exchanges available in all 50 states, as well as 50 or more countries around the world.
Traders can buy, sell and exchange more than 30 cryptocurrencies, and while cryptocurrency conversion is free
There is a favorable fee for each transaction that is 0.50% above the market price, along with a trading fee of $0.99 to $2.99 or 1.49% for transactions over $200.
This trading platform offers multiple tools, so that traders can have more options than just buying and selling cryptocurrencies.
Also available on iOS and Android, the mobile app is fully optimized for buying and selling on the go.
It should be noted that price alerts can be set and an account set up can be completed directly using the mobile application.
Gemini has two different types of wallets available.
There is the best fully secured hot bitcoin wallet, as well as institutional grade cold storage, both of which support all listed assets with upgrades available when new cryptocurrencies are added to the exchange.
Notably, the platform is a cryptocurrency exchange that has never been hit by a successful hacking attack.
The industry-leading security and protection of assets stored in wallets is backed by the exchange being the first major exchange to launch SegWit support.
Gemini customers can also access world-class customer support, should they need assistance with any part of their cryptocurrency transactions and storage.
5. Crypto.com
Created as a place to buy, sell and trade cryptocurrency, Crypto.com is a decentralized exchange
Where users can exchange fiat or cryptocurrency for more than 100 types of the most popular digital currencies.
Crypto.com has more than 10 million users, and provides services in more than 90 countries around the world.
In terms of security, 100% of the user's encryption is kept in cold storage, while the hot wallets used to ensure fast transaction speeds contain corporate funds.
While all fiat currencies are kept in regulated bank accounts, strict security protocols around access to wallets are implemented, based on the principle of least privilege.
One of the advantages of Crypto.com is the ability to deposit more than 20 fiat currencies using a credit or debit card.
You can buy cryptocurrencies at real cost (with commission), through bank transfer or app.
The Crypto.com offer includes a VISA card with the ability to earn up to 8% in CRO (Crypto.com currency),
It is a payment application that allows you to use your cryptocurrency balance, to make online payments when they are accepted.
It can be considered as an instant loan based on your crypto balance with no late fees, or instant sending of cryptocurrency to other app users without fees.
Earnings can be made with Crypto.com app, up to 8.5% per year for cryptocurrency hoarding
And up to 14% if you get fixed coins, which are designed to provide price stability because they are aligned with an asset.
Storage features are great in the best Crypto.com Bitcoin wallet where the app can store up to 100 cryptocurrencies
It is entirely managed by the user, so every user has the privilege to have full control over all the switches.
6. Trezor
Features: high security
Type: Hard Equipment
We talked in the previous paragraphs that hard hardware wallets are often seen as the best type of bitcoin wallet, due to their high security processes.
The same goes for Trezor which is a physical device that you will need to connect to your computer to use it.
Trezor has a strong focus on password security, with two-factor authentication in place.
The sole purpose of the best bitcoin wallet, specifically, is to ensure that your bitcoin cannot be stolen.
7. Ledger
Features: Best Bitcoin wallet with high security, multi-currency and elegant design.
Type: Hard Equipment
The Ledger is designed to be used with multiple currencies, and can be easily managed on your desktop as well as integrated with many mobile apps.
As a solid equipment, one of its main strengths is the use of a secure chip that protects your coins from danger.
8. Blockchain
Features: The best bitcoin wallet out there, online access, trustworthy, perfect for beginners.
Type: Website
This wallet can be seen as the original technology, which allowed the creation of bitcoins.
It is still seen as one of the safest online “banks” for cryptocurrency, along with its low fees.
It is also a perfect place for beginners as the best original bitcoin wallet.
With Blockchain you don't need to backup your personal data, since it is cloud based, you can easily switch between desktop and mobile devices.
9. Coinomi
Features: The Best Bitcoin Wallet is a multi-chain, versatile wallet, available in 25 languages.
Type: mobile app
Coinomi was developed in 2014. It can be used on mobile and desktop devices, as it is designed to be used with multi-chain wallets.
Perhaps the most prominent strength here, is the multi-language feature along with the high security, as no hack has been recorded since its inception.
10. Electrum
Features: Best flexibility bitcoin wallet
Type: Desktop Wallets
Electrum is a more flexible bitcoin wallet than others, as it allows you to install the software directly on your PC, giving you complete control over your bitcoins.
Electrum is fast and easy to install on a PC, which makes it a favorite among new users.
However, it should be noted that you may be at risk if your computer suffers a physical failure.
On the other hand, Electrum offers the option to split your bitcoin between several wallets, which is useful if you have purchased different currencies.
11. Exodus
Features: Best Bitcoin wallet as it has good user experience
Type: Desktop Wallets
Exodus is a desktop application that focuses heavily on user experience. The design of the wallet itself is attractive and easy to use which makes it a popular choice for many users.
Exodus allows you to exchange, as well as store bitcoins.
The best bitcoin wallet uses charts to show how well the exchange is performing your bitcoins, making it a popular choice for those who invest heavily.
12. Green Address
Features: The best bitcoin wallet with checking details on the go, syncing with hardware wallets.
Type: mobile app
Green Address has a unique viewing feature, which allows users to quickly log in and track how bitcoins are performing without having to go into full functionality mode.
This flexibility makes it a great choice for people who want to keep track of their details on the go.
It is also fully synchronized with many hardware wallets, where users benefit from hardware security with the flexibility and ease of mobile applications.
It should be noted that the app is free to install, but does charge transaction fees.
13. Jaxx
Features: The best multi-currency management bitcoin wallet
Type: mobile app
Jaxx is a great wallet that allows you to manage more than 90 currencies at the same time.
It is a great option for those who invest in multiple currencies and want to keep track of them in one place.
14. Mycelium
Features: Best Bitcoin wallet suitable for advanced users
Type: mobile app
The best thing about Mycelium is that it is available on both Android and iOS platforms.
It is a suitable application for advanced users who are looking for the flexibility of being able to buy and sell bitcoin wherever they are.
Mycelium also places a strong emphasis on security and ties in with third-party integrations from hardware wallets such as Trezor and Ledger.
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