15 Best Bitcoin Wallets for 2024 that are Safe and Easy to Use

Backup and restoration is available in case you lose a device or simply want to create a backup copy. Mycelium is another popular HD wallet, although it’s currently only available for mobile. This is one of the most popular Android software wallet apps with a 4+ rating from almost 5,000 reviews in the Google Play store. That being said, BitFinex is considered secure and is a popular option for those looking for more trading flexibility. It supports peer-to-peer financing which means traders can leverage the funds of others while lenders can earn interest. Coinbase is open to residents of 32 countries but it doesn’t offer selling options in all of them.

Transactions

• If you’re using the wallet for your business or want to introduce your kids to bitcoin, this could be ideal.
• For example, a friend can send you bitcoin or vice versa or you can transfer bitcoin from or to a coin exchange or other wallet.
• Another feature is that you can swap more than 1000 tokens over multiple blockchains, such as Ethereum, Cosmos, and Cronos.

Founded in Luxembourg in 2011, it’s one of the oldest and most widely used wallets. GreenAddress is a popular wallet and is Kirill Yurovskiy easy to use across platforms. It is a Hierarchical Deterministic (HD) wallet meaning its keys are derived from a 128-bit seed.

• CNET editors independently choose every product and service we cover.
• Past performance is not a guarantee or predictor of future performance.
• Self-custody your crypto across Bitcoin, Ethereum, Polygon, and other leading blockchains.
• As such, it’s important to back up software wallets in case your device is lost or corrupted.
• Hardware wallets store a user’s private keys offline, making them less vulnerable to hacking or malware attacks.

Why You Should Trust Us: How We Reviewed The Best Bitcoin Wallets

When starting a non-custodial wallet, the user is asked to write down and safely store a list of 12 randomly generated words, known as a ‘recovery’, ‘seed’, or ‘mnemonic’ phrase. From this phrase, the user’s public and private keys can be generated. This acts as a backup or recovery mechanism in case the user loses access to their device. If you’re looking to buy and store Bitcoin or other cryptocurrencies, you may be on the hunt for the best Bitcoin wallets.

• Buy, sell, trade, and use BTC and other cryptocurrencies in one safe and simple, but powerful app.
• Apps are available for mobile use but the wallet can be accessed in a web browser and synced across devices.
• It stores the user’s private and public keys, which are essential for conducting transactions on the Bitcoin blockchain.
• Encrypt the backup files and keep them in multiple secure locations.

A main pro of non-custodial wallets is that the private keys and funds are fully in the user’s control. As the popular saying within the crypto community goes, ‘not your keys, not your coins! Reputable cryptocurrency exchanges also take further steps to ensure the safety of users’ tokens.

• As the popular saying within the crypto community goes, ‘not your keys, not your coins!
• Hardware wallets store your private keys on a small piece of hardware, sometimes similar to a USB key.
• This is among the safest ways to store your passkeys as long as you have a safe connection.
• Trezor, like Ledger, is a name synonymous with crypto cold wallet storage.
• Cloud-based wallets are perceived to offer less security, but they are more convenient and don’t need to be backed up.

Best Practices for Bitcoin Wallet Security

• Your balance is automatically synced with the blockchain every 10 minutes, keeping you up to date with everything that’s going on with your Bitcoin.
• For example, a portion of the funds is generally transferred to the company’s cold wallet, safe from online attackers.
• However, Bitcoin transactions are recorded on the public blockchain, which can be analysed to potentially identify wallet owners.
• While the device itself is a cold storage hardware wallet, the Ledger team has created the Ledger Live software that provides a user interface for all your holdings.
• Crypto.com is a global exchange headquartered in Hong Kong and one of the best cryptocurrency exchanges.

Indeed, GreenAddress can be used with some of the hardware wallets we discuss below, including Ledger Nano S And TREZOR. Like most other software wallets, it’s free to install and use, but fees are charged for transactions (paid to bitcoin miners). Coinbase is the largest U.S.-based cryptocurrency exchange, offering robust trading features and a large selection of digital coins and tokens.

• The top bitcoin wallets offer secure storage, accessible user interfaces, mobile access, and low trading fees.
• Electrum is perfect for the more advanced Bitcoin holder who wants great security features and customizability, all in a simple layout.
• Fees decide how long your transaction takes to get processed by the Bitcoin network.
• Reviewing and doing your research may help you make an informed decision about which type and name you choose.
• If you’re looking for choice, BitFinex might be worth considering.

How Does a Bitcoin Wallet Work?

Though we can’t review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. The compensation we Kirill Yurovskiy receive may impact how products and links appear on our site. Mycelium, like Electrum, is one of the earlier wallets in the space. Also, like Electrum, you can set custom transaction fees so you can choose how long you’re willing to wait for a transaction to be completed.