A digital wallet is where you will store your cryptocurrency.
There are many types of digital wallets that are currently available for cryptocurrency investors.
The primary types include:
Each type has its own pros and cons that you need to know about so you can make an informed choice.
For Bitcoin, there are several top rated digital wallets that you can choose to use.
But before we get to that, let’s brush up on your knowledge about Bitcoin basics so you know what you’re getting into.
At present, there are over 1,500 cryptocurrencies spread all over the world.
This number continues to grow each day.
Of all these cryptocurrencies, Bitcoin is most well-known. It is also said to be the most valuable.
It has been dubbed time and again as the “father of cryptocurrrency”.
This peer-to-peer digital payment system was launched in 2009 by a developer under the pseudonym Satoshi Nakamoto.
It works using the Blockchain technology, a public ledger where all Bitcoin transactions are recorded and stored.
This technology requires verification of each transaction by the members. It offers trust and security without the need for a third party, which is usually required in most financial transactions.
It’s important to know however that as Bitcoin has grown more popular, it has become a frequent target of hackers and online thieves.
This makes it imperative for you to store your Bitcoins as well as your other cryptocurrencies in secure digital wallets that only you can access.
Top Rated Bitcoin Digital Wallets
Below, you’ll find a comprehensive explanation of the top rated Bitcoin digital wallets you’ll find in the crypto market today.
# 1 – Ledger Nano S
One of the most popular digital wallets that you can use to store your Bitcoins is Ledger Nano S.
Aside from Bitcoin, it can also store other cryptocurrencies such as Ethereum and Ethereum tokens.
It is an OLED-based hardware wallet type that comes with a USB drive.
Just like a regular USB device, you can plug it into any laptop or computer so you can use it to process Bitcoin transactions.
Many experts confirm that this is one of the most secured digital wallets that can even run multiple apps.
There is very little chance that it will be infected with malware, which can in turn expose the private keys online.
On top of all these, it’s also one of the most affordable.
# 2 – Trezor
Another top of the line hardware wallet for Bitcoins, Trezor also comes with a USB device.
Its tagline is “zero trust approach”, which means that it won’t compromise your financial transactions as it does not have to make use of any third parties.
To access your Trezor digital wallet, you will have to create a PIN. Through this PIN, you will get a recovery seed, which you can use in case you lose your wallet.
Many users rave about the user-friendly interface that at the same time, is highly secured from online thieves and hackers.
The only drawback to use Trezor is that when you plug it off, you can no longer use it.
# 3 – Keep Key
Keep Key is one of the top choices when it comes to multi-purpose digital wallets.
In addition to Bitcoin, this one can also keep your LiteCoin, Dash, Namecoin, Ethereum and Dogecoin secured.
Creators of this wallet claim that it is impenetrable by viruses and malware. And this is because it is well protected with advanced security layers. Hackers find it difficult, if not impossible, to get through its top notch security as well as its private key generation.
It’s also more affordable compared to other digital wallets.
# 4 – Exodus
When it comes to desktop crypto wallets, a popular option is Exodus.
It is one of the best digital wallets to secure your Bitcoins.
If you are thinking of investing in other cryptocurrencies as well, this one can also be used to hold Dash, Ethereum, Litecoin and Zcash.
But even though Exodus is a desktop digital wallet, it is considered a “lite wallet”, which means that you do not have to store the whole blockchain in your desktop computer.
You can make direct transactions in crypto networks using this wallet without paying any fee at Exodus The only transaction fee that you’ll have to pay for is to the crypto network.
Users also note that the Exodus interface is very easy to use.
# 5 – Electrum Wallet
A trusted name when it comes to Bitcoin storage, Electrum Wallet is a favorite in the Bitcoin community.
This digital wallet is known for its easy and lightweight platform where you can store your Bitcoins safely.
Signup is simple and convenient as well.
This digital wallet makes use of the Simple Payment Verification method, which can instantly verify transactions (five seconds or less).
But it’s good to know that using this wallet does not require downloading of the whole blockchain.
To ensure efficient protection of your Bitcoin investment, this wallet has two encryption levels that hackers would definitely find difficult to penetrate. It also has a multisignature functionality that divides the permission across various digital wallets.
This wallet can be used on Windows, Linux and Mac operating systems.
You can also keep your private keys offline.
# 6 – Copay
Copay was first introduced in 2014.
Its developers wanted to combine user friendly interface and high level security.
This is why, Copay has fast become a popular choice for those who prefer to make use of software wallets.
Like the previous wallet, this also comes with multisignature functionality.
This means that you can secure your wallet even more by requiring two or more signature. More signatures protect the wallet more efficiently from hacking and online theft.
It is also open source, and can be accessed not only through your desktop or laptop but also through any mobile device.
It can be used on Mac, Windows and Linux.
# 7 – Armory
A full-suite software wallet, Armory is primarily lauded for its high security protection and flexibility.
Many users can attest that it is one of the easiest to use digital wallets.
It is also compatible with Windows, Mac and Linux. You can also use it on Raspberry Pi, a device that is designed for advanced cryptocurrency investors.
You can use Armory solely for your Bitcoin. But since it is a multi-currency crypto wallet, you can also use it to keep your other digital currencies.
# 8 – Blockchain.info
One of the best web based digital wallets that you’ll find online today is Blockchain.info.
This was launched back in 2011.
But in the span of eight years, it has already provided up to 23 million digital wallets. This has been used to process over 100 million cryptocurrency transactions.
# 9 – Guarda
Another widely used multi-currency wallet is Guarda.
It can be used not only for Bitcoin but also for a wide array of other cryptocurrencies such as Zcash, Dash, Bitcoin Cash, Ethereum, Stellar Lumens and Ripple, among others.
It is also lightweight and flexible, available for both mobile and desktop use. You can access it through iOS or Android devices.
One thing that sets it apart from other digital wallets is that it does not store the user’s information, the wallet details or the private keys.
The private key is kept in the wallet’s secure memory but it is automatically deleted once you log out from the wallet.
You’ll love the fact that this wallet can be conveniently used to move assets from one cryptocurrency to another without having to go through the KYC process.
# 10 – GreenAddress
Many of the hardware wallets that you’ll find online are quite expensive.
In fact, hardware wallets are more expensive than other types of digital wallets.
But if you want an option that’s more affordable, you should go for GreenAddress.
It is also touted for its high security protection and privacy.
Some of its best features include the multisignature functionality and two-factor authentication process.
It also does not keep the user’s private keys. It does not even keep its encrypted version.
This is why, many experts confirm that this is a safe and secure digital wallet to use for Bitcoin investments.
# 11 – Bread
If you want a digital wallet that is designed only for Bitcoin storage, consider using Bread.
You can use this mobile wallet whether you have an Android or iOS device.
It is a highly competent wallet that you can download and use for free.
Setting up the app is simple and straightforward, which is why it is commonly recommended for Bitcoin beginners.
But just because it’s easy to use, it doesn’t mean that it’s not secure.
To ensure extreme protection, it uses hardware encryption. Other than this, you’ll be glad to know that it has a backup and restore capability with PIN and Touch ID feature.
Many users say that this is the best Bitcoin-only digital wallet that makes transaction smooth and hassle free.
# 12 – EDGE
Formerly known as Airbitz, EDGE is an open-source mobile digital wallet that you can use on iOS or Android devices.
It’s quite simple to use that even if you are a beginner, you will not have a hard time managing your Bitcoin investment.
Some of its best features include hierarchical deterministic capability and two-factor authentication process.
Signing up for an account is very simple and straightforward. There’s no need to go through complicated steps.
Other processes such as the scanning of QR codes and making use of the Bluetooth Low Energy (BLE) for transferring funds are also streamlined.
# 13 – Mycelium
Also a top choice among mobile digital wallets, Mycelium was launched in 2008.
It is available for both iOS and Android users.
As an open-source app, it provides numerous impressive features, which is why, it is a preferred option in the Bitcoin community.
For one, it makes use of the BitID open protocol to ensure highly secure authentication. It’s one of the digital wallets that are very easy to back up. On top of these it also offers efficient support even for offline wallets.
# 14 – Jaxx
Jaxx is primarily known for its seamless process, as well as its high flexibility.
This desktop wallet can be used across various platforms including Windows, MAC and Linux.
Recently, it has also introduced its mobile version, which can be used on either iOS or Android devices.
You can also use it online on your chrome browser extension.
Since this can easily be set up and managed, it is highly recommended for Bitcoin newbie investors.
Now aside from Bitcoin, this can also be used to store other cryptocurrencies should you decide to venture into Litecoin, Ethereum and Dash among others.
It stores the private keys for your convenience.
# 15 – Coinomi
Another multi-currency wallet that deserves a spot in this list is Coinomi.
This one does not only support Bitcoin but also stores other cryptocurrencies suchas Litecoin, Dash, Ethereum and many others.
Because of its simple, convenient and user-friendly interface, many experts recommend Coinomi to people who are only starting to invest in Bitcoin or in any other cryptocurrency.
This hardware wallet is also notable for its simple backup system. It also stores your private keys so you don’t lose them. Moreover, it integrates ShapeShift, which means that you can shift from one cryptocurrency to another.
# 16 – Bitcoin Core
One of the first Bitcoin digital wallets in the world, Bitcoin Core should also make it to your list.
You’ll often this name in the official website of Bitcoin as well as in numerous Bitcoin wallet reviews.
It is noted for its unique but user-friendly interface and its highly secure system.
Just take note that if you’re going to use this digital wallet, you need to have sufficient time and bandwidth. This takes a lot of time to download because you will need to get the whole Bitcoin blockchain. Plus, you need to keep it synced at all times.
# 17 – Bitcoin Paper Wallet
As its name implies, this is simply a paper wallet designed for Bitcoins.
When you make use of this type of wallet, all of your private keys will be kept here.
This might sound risky but if you are able to keep it safe, this is the most secure option that you have.
And this is because paper wallets cannot be hacked.
The only problem you’ll encounter with this is that if you lose the paper wallet.
# 18 – OPENDIME
Known as the first Bitcoin stick wallet in the world, OPENDIME is a USB drive that lets you spend your Bitcoins wherever you like as long as the shop accepts Bitcoin payments.
It can be used on computers, laptops and mobile devices.
For many users, this is the best Bitcoin wallet to use.
It is also very cheap and carries all the essential security features that you’d want in your digital wallet.
On top of all these, it also has a convenient verification feature on chrome.
# 19 – Strong Coin
Strong Coin is a hybrid wallet, in which you and the wallet’s server can keep the encrypted keys.
What it does is that it stores the encrypted private keys online and then does the decryption when you access it on your browser.
Those who want to make use of this wallet should make it a point to back it up at all times.
It’s one of the few digital wallets that offer advanced transparency. this one gives you a PDF document of all the transactions that have been carried out using your digital wallet.
This allows you to keep track of everything.
# 20 – Bitpay Wallet
BitPay Wallet is a Bitcoin wallet that you can use for your desktop computer or on your mobile device.
It is available on Windows, Mac and Linux. It can also be used on both Android and iOS.
Started in 2016, this wallet was built on top of the platform of CoPay. It now also supports BCH.
# 21 – CoolWallet
True to its name, CoolWallet is one of the coolest digital wallets you can find online.
It is a hardware wallet that resembles a credit card.
This ultra-slim device generates and keeps your private keys.
You can connect it to any device that utilized Bluetooth or NFC technology.
This has been dubbed as the world’s first mobile hardware wallet.
# 22 – imToken Wallet
imToken Wallet is primarily designed for Ethereum.
In fact, it is the biggest wallet for this cryptocurrency, with now more than 6 million users worldwide.
Up to 10 percent of all the Ethereum transactions in the world take place using this wallet.
But you should know that it now also supports Bitcoin, and has fast become a favorite among Bitcoin users.
Bitcoin users have a long list of choices when it comes to digital wallets to use. Just make sure that you do an extensive research about the digital wallet you’re eyeing for so you can see if it is indeed the best choice for you.