Not sure where to start when it comes to Bitcoin wallets? We here at CryptoCoinSpy.com appreciate how complex it all appears at first, having once been new to Bitcoin and cryptocurrencies ourselves.
And so, we’ve put together a few summaries of the most popular Bitcoin wallets on the market in 2018. Being the most secure type, we’ll start by looking at the best hardware wallets for securing your Bitcoins.
Ledger Nano S
When you first dive into the world of Bitcoin, it doesn’t take long before you start hearing Ledger mentioned here, there, and everywhere – and for good reason. Founded in 2015 in France, Ledger is known for its star product, the Ledger Nano S (€79).
Voted the best Bitcoin hardware wallet in 2017, the Nano S is looked to as the market leader when it comes to advanced security features, usability, and price affordability.
The Nano S is one of two hardware wallets offered by Ledger. In December 2016, they released a more premium, up-market product called the Ledger Blue (€229).
A product of SatoshiLabs (headquartered in the Czech Republic), TREZOR (€89) is widely looked to as the most reputable product offering in the market. This is because it stands as the oldest Bitcoin hardware wallet available.
TREZOR is a highly popular Bitcoin hardware wallet; praised for its usability and robust security. It has always sold at a premium to Ledger, but in recent times this price gap has narrowed.
Like Ledger, there will soon be two types of TREZOR products, with the TREZOR Model T (€139) being made available mid-2018.
Another hardware wallet worthy of securing your Bitcoin holdings is KeepKey (US$129). The company behind KeepKey – Key Hodlers LLC – is based out of Washington, U.S, and was founded in 2015.
Whilst its functionality is up there with the best, it’s worth noting that, as a younger product, KeepKey hasn’t earned the prestigious level of reputation that Ledger and TREZOR have. Also, the size of the KeepKey hardware wallet is often a sticking point for some would-be buyers, given it’s almost twice the size of the two products discussed above.
Another hardware wallet provider worth mentioning is Hong Kong-based BitLox. They offer three different models: BitLox Advanced ($98), BitLox Ultimate ($148), and BitLox Extreme Privacy Set ($198). Whilst these prices are considerably more expensive than competitors, BitLox are known for their plush models.
Of note, the three BitLox products are compatible exclusively with Bitcoin. This is unlike those we looked at earlier, which all are compatible with other cryptocurrencies (not just Bitcoin).
. . . . . . . . .
The other types of Bitcoin wallets are known as hot wallets (i.e., the opposite of a cold storage hardware wallets). These are Bitcoin wallets that are in some way connected to the Internet.
Beyond the fact they tend to be free to use, hot wallets are generally easier to setup, more user-friendly, and accessible. The major drawback is that these types of Bitcoin wallets are prone to being hacked.
Earlier, we recommended that you ought to go with a Bitcoin hardware wallet. This was under the assumption that you’re serious about securing your cryptocurrency holdings. Be aware, though, that hot wallets certainly have their uses – but consider them the real-world equivalent of a wallet or purse; convenient and accessible, but not as secure as keeping your earnings locked away securely with a bank.
With that said, let’s go through some popular Bitcoin hot wallets.
Having built an excellent reputation since it was developed in 2011, the Electrum desktop wallet is built for the sole purpose of storing Bitcoin. For this reason, it remains a leader when it comes to transaction speed and efficiency; just what you need in a hot wallet.
A key feature of the Electrum Bitcoin wallet is that it can integrate with some of the major hardware wallets in existence. This includes some we discussed above, like TREZOR, KeepKey, and Ledger Nano S.
An industry leader for adoption, the Blockchain.info Bitcoin wallet is by far the world’s most popular. Indeed, their CEO Peter Smith stated on a podcast last August (@28:30) that their wallets account for roughly 40 percent of the entire Bitcoin network’s transaction volume.
Accessible on desktop, and both Apple and Android phones, the Blockchain.info hot wallets is one of the best on offer.
Founded in 2015, Exodus is one of the more user-friendly software wallets; not just because of its design layout, but also because of a first-class customer support service (something not too many other Bitcoin wallet providers get right).