Whether you’ve just entered the realm of buying, selling, trading or accepting cryptocurrency or you’re an experienced participant in the growing financial market, you need a wallet. That market continues to grow, too. Read on for help choosing the best cryptocurrency wallet available. This blog reviews the top Bitcoin and cryptocurrency wallets on the market today. Our goal is to create the most useful guide for consumers looking to use or buy a Bitcoin or cryptocurrency wallet. It provides an explanation of Bitcoin and cryptocurrency wallets and their various types. You’ll find a review of each wallet discussing its benefits, drawbacks, technology and price, then our recommendation for the top wallet out of those.
Among these reviews of Bitcoin hardware wallet devices and cryptocurrency cold wallets, we do not examine apps like Robinhood, designed for stocks, bonds and other financial trading plus cryptocurrency. We also leave out apps like Blockchain which although easy to use, have fallen in reputation. Blockchain has had numerous reports surface of user accounts getting hacked and emptied, plus its users say customer support remains unhelpful or unresponsive.
What is a Bitcoin and Cryptocurrency Wallet?
The term Bitcoin and cryptocurrency wallet refers to two types of financial wallets. Overarchingly, two types exist: cold and hot. Between these two types other divisions exist. You’ll find desktop, mobile, cloud, paper, hardware and USB wallets. This means you can choose a wallet that uses the technology with which you’re most comfortable. That means the best cryptocurrency wallet for you is the one you feel most comfortable using. You can also use more than one type of wallet and transfer cryptocurrencies in and out of them. Some of these wallets allow only the storage of Bitcoin while others store a more diverse set of cryptocurrencies including Ethereum, Litecoin and other top altcoins. These devices store the private keys that protect your cryptocurrency and must be made available for you to access or spend your cryptocurrency.
What is a Bitcoin Hardware Wallet?
A Bitcoin hardware wallet stores the original cryptocurrency on an electronic device that fits in your pocket. These provide a cold storage option ideally suited for long-term storage. This type of wallet only stores Bitcoin.
A hardware wallet can take different forms. Most connect to a computer for use. They do not connect to the Internet on their own. It can be styled as a USB drive or as a portable hard drive. They connect to the computer via a USB connection. Choosing the best Bitcoin hardware wallet is not the same as choosing the best cryptocurrency wallet.
What is a Cold Storage Bitcoin Wallet?
A cold storage Bitcoin wallet provides the most secure storage option since unlike hot wallets, it does not remain connected to the Internet. You’ll still have simple access to your funds though. A Bitcoin wallet can only store that type of cryptocurrency.
In contrast, a hot wallet consists of software or an account on an exchange that provides a constant connection to the Internet. These are designed for day-to-day transactions. Because they store information online, they do present a higher vulnerability to hackers.
The best cold hardware wallets share key features focused on simplicity and security. They provide or enable storage of the following:
- storage of private keys with additional private key controls,
- a simple, user-friendly interface,
- an active development community,
- a system for creating backups and restoration capabilities,
- compatibility with multiple operating systems.
The most accessible and sensible answer is to have one cold wallet and one hot wallet. This way, you can hold the majority of your cryptocurrency investment in the best Bitcoin hardware wallet you can find, offline. That keeps it safer. A desktop or Web wallet simply does not offer the same security. So, while it’s a good idea to use a software wallet like Exodus that holds about one hundred cryptocurrencies for purchases, you’d use it like a checking account. Hold the majority of your cryptocurrency in a cold wallet in the same way you would a savings or investment account only moving a little bit into your hot wallet as you need it for purchases, like a checking account.
Best Bitcoin and Cryptocurrency Wallets
Every cold wallet requires an investment except a paper one. The best Bitcoin hardware wallet devices cost between about $75 and roughly $250. Size, shape and features differ also. Hot wallets vary in features and security.
Ledger Nano X
Ledger, makers of some of the best Bitcoin wallet devices, The Ledger Nano X only debuted in January 2019 and you can pre-order it, but you cannot pick it up in stores yet. It ships in March. Like Ledger’s other devices, it sports top-notch security. If features something no other Ledger does – the ability to connect via Bluetooth to mobile devices via the Ledge Live app. Ledger wants to increase mobility of users who currently must rely on an USB connection to use access their wallet. It costs $119.
The pros of this wallet include:
- It has a larger screen than other Nano devices.
- The Nano X offers some of the strongest security available.
- It supports 100 cryptocurrencies landing it among the best cryptocurrency wallet devices.
- Its app is available on Android, iOS, Linux OS and Windows.
The cons of this wallet include:
- Not yet released to the public so consumers cannot judge its user friendliness.
Ledger Nano S Cryptocurrency Wallet
The Ledger Nano S lets you store numerous cryptocurrencies offline. It supports more than 40 cryptocurrencies including Bitcoin, Dash, Ether, Neo and XRP making this Bitcoin hardware wallet similar to many hot wallets. It costs $59.
The pros of this wallet include:
- It uses a familiar USB-style drive with an OLED screen for controlling and viewing activity and financial transactions.
- Like its larger screened sibling device, it can run multiple applications at once – up to 18.
- The Nano S offers one of the strongest options for security you can buy.
- It supports more than 40 cryptocurrencies including Bitcoin, Dash, Ether, Neo and XRP, another factor putting it among the best Bitcoin hardware wallet devices.
The cons of this wallet include:
- It may get replaced in the Ledger line by the Nano X, introduced January 7, 2019 at the Consumer Electronics Show (CES) in Las Vegas, Nevada. The Nano X supports more than 1100 different cryptocurrencies and isolates private keys for the user.
Coinbase Wallet
You can use the Coinbase wallet on an exchange to keep day-to-day funds. One of the highest rated exchanges, Coinbase, also offers a wallet, but it is not one of the best Bitcoin wallet apps available. This hosted wallet provides additional security by storing private keys elsewhere. It offers one of the safest hot wallets making it top the list of cold options for the best cryptocurrency wallet. It costs nothing.
The pros of this wallet include:
- It works with numerous altcoins.
- It offers multi-signature and two-factor authentication support.
- It lets you access other digital financial instruments.
The cons of this wallet include:
- It lacks support for Bitcoin.
Trezor Model T Cryptocurrency Wallet
Another of the best cryptocurrency wallet options, the Trezor, pronounced like the American English word “treasure,” once only supported Bitcoin, but recently added Ether. It may not sound very versatile, but it now supports more than 600 cryptocurrencies. It offers top security features like a sealed USB drive. One of the most portable devices, it offers a magnetic storage option even the best Bitcoin hardware wallet devices do not. Think of it also as the fashion option in cryptocurrency wallets. You can choose from three colors: black, gray and white. It costs $139.
The pros of this wallet include:
- It provides a slot for a MicroSD card.
- It can connect to the hot storage wallet, MyEtherWallet (MEW), a website, to transfer Bitcoin or Ether following a purchase or trade.
- It can connect to any desktop or laptop using an USB-C connection.
The cons of this wallet include:
- It requires additional software, the Trezor Bridge, to set it up.
Ledger Blue Cryptocurrency Wallet
The Ledger Blue cryptocurrency wallet also provides a large screen in comparison to other hardware devices. It is even larger than the KeepKey – comparable to the size and shape of a cell phone. This Bitcoin hardware wallet measures 97mm x 68mm x 10mm. Ledger manufactures it and the Nano S. You’ll be able to recover your account and cryptocurrency tokens with your confidential recovery phrase. This alone puts it in the top finishers among Bitcoin hardware wallet devices. It costs $269.99.
The pros of this wallet include:
- Its entire front face consists of screen.
- Its large screen takes up the entire front face.
- It features high-quality security measures like requiring a PIN to access it.
- It supports more than 30 cryptocurrencies including Bitcoin, Dash, Ether, Neo and XRP, another factor putting it among the best Bitcoin hardware wallet devices.
- It can simultaneously support up to 11 device applications which lets you access multiple cryptocurrencies at once.
- You can create a backup, so your investment remains protected and recoverable if you lose your wallet or it gets stolen.
The cons of this wallet include:
- It costs the most of any wallet reviewed.
KeepKey Cryptocurrency Wallet
The KeepKey cryptocurrency wallet combines features found in more expensive cryptocurrency wallets like the Trezor and Ledger Nano S. Two features making it one of the best cryptocurrency wallet devices include its large screen and slight weight. It offers one of the most secure methods of securing tokens offline because it uses no operating system. As a USB HID-class device, it works with Android, Linux, Mac and PC systems. USB HID-class devices require no drivers to operate. This vaults it higher in the list of Bitcoin hardware wallet devices. It costs $129.
The pros of this wallet include:
- It weighs only 1.92 ounces.
- Its large screen takes up the entire front face.
The cons of this wallet include:
- It features a plastic case that can easily chip if dropped.
- It’s also a little larger than other Bitcoin hardware wallet options.
Exodus Cryptocurrency Wallet
Exodus also ranks among the best bitcoin wallet apps for its simplicity and intuitive design. The designers made it easy for beginners but made it suitable for those who want to grow into a more serious involvement with cryptocurrency, too. This puts it lower in the ranks of best Bitcoin wallet apps and best cryptocurrency apps. It is rare to find an app that includes multi-signature support or two-factor authentication although they do exist.
The pros of this wallet include:
- It offers an easy to use design.
- Provides a charting feature.
- Supports numerous cryptocurrencies.
The cons of this wallet include:
- It functions as a desktop only application.
- It offers no multi-signature support or two-factor authentication.
Jaxx Liberty Wallet
Jaxx Liberty also provides a user friendly interface that supports many devices and platforms - a key feature of the best Bitcoin wallet apps. A few examples include Bitcoin, Ethereum, Litecoin, DigiByte and Dash.
The pros of this wallet include:
- It features built-in ShapeShift support.
- It supports a bevy of cryptocurrencies - more than 85.
- It does not store or access your private keys.
The cons of this wallet include:
- It offers no multi-signature support or two-factor authentication.
Mycelium Wallet
The Android app Mycelium offers a mobile wallet app with both cold and hot wallet features. It a wealth of advanced privacy and security features. It provides many features, but some can prove hard to find for new users. Since it’s an open-source program, it receives constant upgrades, but that also leaves its code available to all. It costs nothing.
The pros of this wallet include:
- It integrates with Trezor and Ledger products.
- Lets you send and receive from multiple addresses.
- Offers local Bitcoin trades.
- Uses HD security measures.
The cons of this wallet include:
- No web or desktop interface.
- Publicly identified method to hack it using a rooted device.
Paper Cryptocurrency Wallet
One cold wallet requires no tech. While blockchain platforms, cryptocurrency and smart contracts are high-tech that doesn’t mean you have to use high-tech solutions to protect your cryptocurrency. You can use paper. Actual paper. You print on standard paper a copy of the private keys and public keys when you purchase your cryptocurrency. Since you need these paper items to remain in pristine condition, most people store them in a bank safe deposit box or in a safe in their home or office.
The pros of this wallet include:
- Its provides an extremely easy to use option for everyone.
- It does not require purchasing special equipment because you can use your existing computer and printer.
- You can store the wallet in any safe or safety deposit box.
The cons of this wallet include:
- You do need a software application to create a paper wallet. Perhaps the simplest is ETHAddress which lets you create a paper wallet but adds to your investment’s security by first encrypting the private keys before you can print.
- While you do not require the set up time or technical skills of a more high-tech solution, do not lose your paper wallet. It does not have a backup option.
Archos Safe-T Mini Hardware Wallet
Archos does not specialize in hardware wallets, but also makes portable data storage devices, portable media players, smartphones and tablets. It just entered the Bitcoin hardware wallet field with the release of its Safe-T mini hardware wallet so do not expect to vault to the top of the best Bitcoin hardware wallet heap just yet. Unlike the other options discussed, it has a limited interface. It’s really the option for those who make few transactions and do not mind a few extra steps. It costs $50.
The pros of this wallet include:
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- It offers basic features you’d expect in one of the best Bitcoin hardware wallet devices like two factor authentication.
- Its stores your Bitcoin private keys.
The cons of this wallet include:
- It does not support many cryptocurrencies yet.
- You’ll need additional software to send or receive or trade coins using the Safe-T Mini. You’ll need to use Electrum to interact with your cryptocurrency.
CoolWallet Cryptocurrency Wallet
The latest in design developments, CoolWallet, offers a hardware wallet the size and shape of a credit card. This genuinely fits inside your standard wallet, the one with your credit cards and folding money in it. This extremely slim electronic device generates and stores your private keys. You can connect it to any Bluetooth or NFC device. That means CoolWallet enables you to move your cryptocurrency from your hot wallet to your cold wallet using your mobile phone. You can also use other devices that do not have a standard USB port. It began as an Indiegogo campaign in 2014 which sold out its first production run with users quickly recognizing that CoolWallet created one of the best Bitcoin hardware wallet devices. Although it numbers among the newest wallets, it also lands among the best Bitcoin wallet devices for its portability and ease of use. It does not list a firm cost.
The pros of this wallet include:
- All operation occurs on the card. A small circle on its face is the control button enabling operation. You click it to begin your activity.
- The card device uses a built-in battery – a very tiny one – that lasts for about two years.
- The battery recharges by laying the card on top of its recharger.
- The CoolWallet can bend up to 15 degrees.
- It provides heat resistance up to 140 degrees Fahrenheit.
The cons of this wallet include:
- It is only available through the Indiegogo campaign.
- It does not yet carry a fixed price.
Bread Wallet
In the competition for the best cryptocurrency wallet, BRD offers a user friendly wallet app that lets the user make transactions directly from it. It provides a simple, basic wallet for purchasing cryptocurrency, but it lacks common security features like multi-signature transactions and two-factor authentication. It costs nothing.
The pros of this wallet include:
- You’ll need either an Android or iOS device.
- It protects its user’s privacy by collecting very little personal information.
The cons of this wallet include:
- No version exists for PC or Mac.
- You cannot use a web version either because none exists.
- It only supports Bitcoin and Ether.
Coinomi
Established in 2014, Coinomi is the oldest multi-asset wallet you can obtain. It boasts millions of users and has been hack-free from its inception. It supports 507 assets and puts security first. That doesn’t mean it ignores other user needs. Its app provides features like a light and dark mode. You’ll find you can easily make anonymous transactions and your private keys remain secure because they never leave your device.
The pros of this wallet include:
- It supports 125 blockchains and 382 tokens.
- It accepts 168 fiat currencies.
- It supports 25 languages.
- Instant exchanges via built-in support for Changelly and ShapeShift.
The cons of this wallet include:
- Not as secure as a hardware cold wallet.
Cryptonator
The Cryptonator provides an online wallet that provides bank grade security vaulting it to the top of the best Bitcoin wallet apps list. It allows anonymous transactions and handles a plethora of major currencies, including Bitcoin, Dash, Ethereum, Litecoin, Monero, Ripple and Zcash. It costs nothing.
The pros of this wallet include:
- Provides one-to-one cryptocurrency transactions.
- This Bitcoin wallet works on desktops, laptops and mobile devices.
- Enables instant currency-to-currency exchanges.
- Uses 2-factor authentication, encrypted SSL connection via HTTPS and trusted IPs.
The cons of this wallet include:
- It only supports seven cryptocurrencies and is not as secure as a cold storage wallet.
Coinpayments
The web-based Coinpayments provides an online cryptocurrency wallet that functions like an actual wallet. You can shop with it at hundreds of online stores. Far from just a Bitcoin wallet, this wallet supports a jaw dropping 1,100 cryptocurrencies. It costs nothing.
The pros of this wallet include:
- It integrates with BitGo. This speeds transactions.
- It also offers a mobile app available on all major operating systems.
- The vault feature requires a waiting period before withdrawing which protects deposits from hackers.
The cons of this wallet include:
- It does not use 2-factor authentication.
Best Bitcoin Wallet 2019
Each year manufacturers battle it out for the best bitcoin hardware wallet and best cryptocurrency wallet. The manufacturers add new features to each wallet, changing the best cryptocurrency wallet recommendation. This year’s best cryptocurrency wallet continues to be one of the top wallets from the last few years - the Ledger. It may have a smaller screen than other wallets, but it boasts hardy features for a sweet price.
It supports far more cryptocurrencies than most cryptocurrency wallet devices. With more than 40 choices, you can start using it is not just the best Bitcoin wallet, but the best cryptocurrency wallet. That’s because with it you’ll be able to easy diversify your investment portfolio and safely store multiple currencies offline. While you might start out purchasing just Bitcoin, growing your portfolio to include many cryptocurrencies makes good sense, just as investing in multiple stocks makes good sense when building a traditional investment portfolio. It continually adds support for newer currencies, for example, recently adding IOTA to its accepted currencies. You do not have to wait for new versions of the hardware wallet to come out to add support for the currencies as Ledger adds to their support. You simply update your Nano S, rather like you would update a computer or software package.
Ledger is a well-established firm with a superior reputation. Founded in France in 2015, it has dedicated itself to the development of a flexible line of hardware wallets that offer top quality parts and design. As a cornerstone of the ever developing blockchain and cryptocurrency community, it works to add new cryptocurrencies to those supported by its hardware wallets. It also works to develop better security options for users. It wins the year for best Bitcoin wallet, best Bitcoin hardware wallet and best cryptocurrency wallet. This device works overtime to provide the best protection and portability for your cryptocurrency purchases.
