Best Bitcoin Wallets: Bitcoins are the currency of the future. They’re skyrocketing through the roof right about now, hence making them a prime target by hackers and spammers trying to get into your wallets!
Now there are over a hundred different Bitcoins wallets in the industry, but they vastly differ from one another, so with all that confusion how would you choose the best Bitcoin wallets?
That’s what we’ve done for you!
We’ve filtered out the best Bitcoin wallets for you to choose from; the wallets have been chosen to take some strong factors into consideration, including over 5 years of personal experience.
How we’ve Chosen the Wallets?
Privacy: Bitcoin’s primary selling point is that its “Anonymous” and can’t be tracked back to the user.
So obviously it’s important that the wallet you use be anonymous too, isn’t it?
Control: How much control you have over your coins matters as well. How many keys the wallet produces, and how many are solely kept with the user, spending rights and everything else comes in as a factor!
Security: What’s the encryption being used by the wallet, does it support 2-factor authentications? What are the recovery options? Do they support cold-storage? Those were some of the questions we asked before scribbling this piece down.
I’ve pointed out the above points to paint you a picture of how serious we are about this wallet compilation! You can be sure that if a wallet is on this “Best Bitcoin Wallets” list, it does deserve it.
Top 10 Best Bitcoin Wallets for Web, Android, iOS, Mac, Windows, Linux
1). Armory
Website: https://www.bitcoinarmory.com
Device Support: Linux/Mac/Windows
Armory is my first choices when I’m digging for the best Bitcoin wallets.
Pertaining to the fact that I’ve mingled with over 15 wallets throughout my journey with Bitcoins, and every wallet has one or other kind of a minor “con” or negative aspect.
But Armory? It just couldn’t be any more perfect!
a). 100% Control
Armory grants you 100% funds control. You and only you are granted access to the funds, and no one else has any kind of control over them.
b). Full Validation
This is what earned Armory a #1 position on top of Electrum (the #2 on this list!). Armory mandates the installation of a Full-node software for the validation of the transaction.
It directly uses the Bitcoin network for validation, eliminating any need of trusting a third-party for verification.
Being the most secure validation available, it requires over 100GBs of space and a lot of bandwidth. So it really is a matter of your choice, you might also go for a semi-validated wallet (like Electrum) which doesn’t require any additional software or space if you’re okay with a decent security.
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c). No Central Validation
Considering the fact that it doesn’t use any centralized validation system, instead relies directly on the Bitcoin network, it becomes a more “anonymous” kind of wallet.
In fact, this again is another factor, why it’s listed above Electrum, because it doesn’t disclose any information regarding your transaction to any servers, while any other wallet not using the full-node validation does, and the information can be compiled together and traced back to you with a bit of luck as mentioned above.
d). Two-Factor Authentication
Apparently, it supports 2-FA making it impossible for hackers to hack into your wallet without having all of your devices at their disposal.
e). Control Over Fees
Armory uses RBF and CPFP which grants you the ability to change the fee after a transaction is made, based on the network conditions. In simpler words, it means this is one of the most efficient fee calculation systems at work.
Other Features
- Cold Storage: Coins are stored in an offline environment, preventing any online communications to them makes them impossible to hack into.
- Supports TOR: You can use TOR with Armory to ensure that your IP address can’t be associated with your Bitcoin transactions, hence granting an extra layer of security.
- Open Source: Armory is Open-source. What it means for you is that, even though Armory as a company ceases to exist, you won’t have problems accessing your funds because you would still be able to access the source-code.
- Multi-Signature Support: It essentially is an added security layer which grants you the ability to authorize transactions after “more than just one person” have validated the transaction. It resembles a joint bank account in real life!
So all of these features essentially do make Armory one of the most secure Bitcoin wallet existing in the industry. Not even the Armory team can meddle with your account once it’s been created.
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2). Electrum
Website: https://electrum.org/
Support OS: Windows/Linux/Mobile/Android
Electrum is a cut-throat competitor to Armory in the race of the best Bitcoin wallets!
They are almost identical and features and usage, and can be used interchangeably. I’ve only mentioned Armory above because of the better validation Armory offers as compared to Electrum.
a). 100% Control
Electrum grants us 100% control over the funds. Meaning the private keys are saved on our systems rather than an online environment and can’t be accessed by any other third-party!
No other third-party can freeze, access, or use the funds in your wallet without your permission!
b). Semi- Validation (Simplified Validation)
How the Bitcoin wallet validates your transaction is of utmost importance. Electrum uses SPV and a random servers list for verification, which reduces the trust required in other third-parties to verify the transactions to the least!
It’s not as secure as a full-node validation, but surely the next best thing out there!
Just because it doesn’t use a full validation doesn’t make it any less secure, in fact, it’s better in terms of usability because a full-node validation would require a lot of bandwidth as well as hard-disk space!
c). Security
Electrum supports 2-FA (2-Factor Authentication), as expected from any wallet listed at the #2 position on this list!
So even if you lose your computer, you don’t have to worry about someone else getting into your wallet!
d). You Control the Fees
This is something of a rarity to Bitcoin wallets! Electrum uses RBF (Replace by Fee) and CPFP to make sure that your transactions get confirmed exactly when they need to, and hence you do not pay a single extra bit!
Other Features:
- Cold Storage: Electrum stores our coins in an offline storage hence making it impossible for someone to hack into them.
- Watch-only Wallets: Need to check a transaction or just your balance? Well you don’t have to risk your security! Electrum offers “watch-only” wallet feature using which you can access your account but can’t make any solid changes to it.
- Secret Phrase Recovery: In case you lose your wallet login ID, you can use a secret phrase to log-in to your Electrum wallet!
- TOR is supported for routing traffic and activity over the onion router!
- Rotating Bitcoin Addresses: Your addresses aren’t static, instead, are rotated to make spying on your transactions impossible.
- Supports Multi-Sig wallets!
And these are just the tip of the iceberg when it comes to Electrum features! So yeah it most definitely is one of the best Bitcoin wallets you can get your hands on.
Cons:
- Doesn’t use Full-node validation.
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3). mSigna
Website: https://ciphrex.com/
Support Device: Windows/Mac/Linux (Latest Version Visit Website)
If you’re looking for a bucket-load of features, mSigna won’t disappoint you. Security is the primary strong-suit mSigna brings to the table.
a). Full Control
Like any other Wallet on this list of best Bitcoin wallets, mSigna too grants you 100% control over your funds, restricting any third-party control whatsoever.
b). Full Validation
Like Armory and Bitcoin Core, mSigna too doesn’t rely on any third-party for validating the transactions.
Instead, a full-node software installed on your own system does that.
c). 100% Private
Using a full-node validation system, it’s not required to use any centralized authority for validating the transactions, and hence none of your transactions details are shared with any other party.
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d). Rotating Addresses
Even after employing a full-node validation system, it further adds to your privacy by rotating your address so that any chance of it being tracked are eliminated.
Other Features:
- Supports TOR: Combine TOR with mSigna to add a third layer of protection to your transactions.
- Uses BIP 32 to generate random addresses.
- Supports Paper backups!
- Allows Multi-Signature authorizations: Add more than one signatories to your wallet, especially helpful for organizations and companies. No funds can be spent without consent of all the signatories.
- Cold Storage: Funds aren’t stored online, instead in a secure, offline storage.
- MultiDevice Synchronizations: Let’s you synchronize your account across multiple devices for various purposes!
Cons:
- Fee suggestions aren’t provided. Meaning, at times you might end up getting a delayed transaction, or you might have to pay a higher fee!
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4). Green Address
Website: https://greenaddress.it/
Device Support: Web/Android/iOS
Green Address has the potential to be the best Bitcoin wallets, which is hindered only by some minute lackings (as will be mentioned in the cons!)
a). 100% Funds Control
Green Address takes pride in the fact that they do not store our private keys, in any form. They just don’t!
Meaning they do not have access to the “funds”!
b). Deterministic Wallets
There are various types to it, but in simplest words it simply means that for each transaction a new address would be generated, randomized and made untraceable!
c). Multi-Signature
Setup for more than one person to authorize a transaction before any funds can be moved from your wallet.
d). Watch-Only Wallets
Accessing your wallet from a public network? Well, Green Address supports “Watch-only” wallets as well which let you access your wallet, view transactions, check balance, etc.
What these don’t let you do is make transfers or solid changes to your account, hence your wallet is safe even on public networks.
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e). Insurance
Green Address surely claims its place as one of the best Bitcoin wallets by enabling a nLockTime feature!
It means if for some reason Green Address as a company ceases to exist, you’d still get your funds back at an expiry date pre-set by you!
f). Double Spend Checks
Waiting for Bitcoin transactions to get confirmed is one of the few problems Bitcoin still hasn’t found a solution to.
Well, with GreenAddress they have! Green Address has its own “Double spend checking” system, meaning under no circumstances can you double spend the same amount.
So all your payments are instant!
Other Features:
- Pre-Signed transactions.
- Quick PIN can be setup for instant login.
- Set Spending Limits: – Daily, hourly, monthly, etc.
- 2-Factor authentication.
Cons:
The only reason it’s not “The” best Bitcoin wallets is that it uses a Centralized Validation method to validate your transactions, which provides third-parties with breadcrumbs to follow and link the transactions to your account.
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5). Bitcoin Core
Website: https://bitcoin.org/
Support Device: Linux/Mac/Windows
Bitcoin Core is almost identical to Armory in its “strength” or “security”. But it’s not as feature-rich as Armory and in addition needs more space on your system.
a). Full-Node Validation
Bitcoin core employs the most secure validation method available for Bitcoin transactions.
It requires you to install a full-node software for validating the transactions just like Armory.
Using the full-node validation means that it won’t be using any third-parties for verification and instead be validating the transactions directly from the Bitcoin network.
b). 100% Control
You get 100% control over your funds and private keys. No third-party, including Bitcoin Core has any kind of access to your funds without your permission.
c). Zero Information Sharing
Any wallet which uses the full-node validation doesn’t require any third party, centralized validation system.
It’s a great feature because if a centralized validation system is used (as in the case of Electrum), some information is disclosed to them, which can at times be traced back to you.
d). 100% Transparent
It’s the only Bitcoin wallet which grants you a 100% transparency to its source-code.
Meaning even though most other Best Bitcoin wallets on this list are open-source, they hold the final say when you’re updating or installing a newer version.
That’s not the case with Bitcoin Core, you can audit even the final version with 100% transparency.
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e). Supports TOR
Bitcoin Core supports TOR for masking identity further.
That just about sums up the features Bitcoin Core offers! I do understand it’s not as feature-rich, as already mentioned.
But it’s still on this list because of its unbreakable security as well as privacy.
6). CoinBase
Website: https://www.coinbase.com
Support Device: Web/Android/iPhone
CoinBase has already made a reputation for itself as one of the best Bitcoin wallets. Although it’s a web-based wallet and not a software one like the other wallets discussed so far.
a). Cold Storage
The funds aren’t stored online even though it’s an “Online” wallet, and majority of the funds are stored in an offline facility under strict security.’
In fact only 2% of the total funds at any time are stored online.
b). Full Control with MultiSig Vault
It’s a “Trustless solution” as termed by Coinbase.
You can create a multiSig vault, and choose as many as 5 co-signers for it. Only you and the co-signers will have access to the vault and the funds. Coinbase never has access.
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c). 3-Key Architecture
It has designed 3 keys, namely the Coinbase Key, the Shared key and the User key.
The Coinbase key is stored by Coinbase, the shared key is stored both by you as well as Coinbase, while the User key is the “master key”, and is stored only by you.
Meaning you can also sign in, and make transactions without Coinbase’s key.
d). New Wallet Address Every time
As a step to protect our privacy, Coinbase generates a new, random address for each of our new transactions.
e). Legally Insured Funds
Coinbase is one of the few best Bitcoin wallets which actually has legally insured funds.
Meaning, all of the Bitcoins are insured, and in case of any breach or theft at Coinbase, the users would still be paid out from the insurance policy.
7). BTC.com
Website: https://wallet.btc.com/
Support Device: Web
Another Web-wallet which deserves a place in this list on the best Bitcoin wallets is BTC.com
a). Shared Control over Funds
Like most web-based wallets, you don’t have 100% control over your funds. Instead, some part of the control is also vested in the platform itself, which is necessary considering it’s not a “Software” but an online portal.
b). Fee Suggestions
It makes sure that you pay an adequate fee based on current network conditions, making sure it’s never too low or too high.
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c). Hierarchical Deterministic Wallet
The wallet addresses aren’t static and keep changing for each new transactions to avoid any kind of trace-backs to your account.
d). MultiSignature Supported
Appoint more than one signatories for your account making it impossible for hackers to transfer funds without your permission.
e). 2-FA supported
Setup a second verification method like a Cell phone OTP to ensure protection even when your password is compromised!
8). Bitgo.com
Website: https://www.bitgo.com/
Support Device: Web/Android/iOS
BitGo is one of the most trusted names when it comes to the best Bitcoin wallets, primarily because of its high-security protocols.
The company speaks for itself because some of the largest Cryptocurrency platforms including Bitstamp, Genesis, Kraken, Unocoin etc. have trusted Bitgo with their funds!
a). Centralized Validation
With a “Software” wallet, I’d have listed it in the “cons” section, but you can’t have a Web-based wallet function on a full-node validation.
All the transactions are validated from a centralized service and hence a lot of trust needs to be vested in them.
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b). Spending Limits
You can set limits for your account, so that you not only keep yourselves in check, but also if your account gets compromised, you’ll lose only a fraction of your funds.
Apart from these, other general features include:
- Two Factor authentication.
- Support for TOR.
- Fee suggestions.
- Shared control over funds!
9). Bitcoin Wallet
Website: Download App
Support Device: Android/Blackberry
Bitcoin wallet doesn’t extremely feature rich, granted! But what earns it a place in this list as one of the best Bitcoin wallets is its extremely decentralized working principle.
a). 100% Control
It’s one of the few mobile wallets with the capability to let you have 100% control over your funds! They do not try to contest for control despite being a mobile-wallet!
b). Full Control Over Fee
It not only suggests the appropriate fee according to the network conditions but also lets you change the fee after the transactions.
c). Dynamic Addresses
It uses a new address every time for each transaction like all the other wallets on this list to let you have full anonymity.
d). Simplified Validation
Using the Bitcoin network compiled with SPV to validate your transactions, it limits the trust required in third-parties to the minimum.
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e). Sweeping of Paper Wallets Supported
You can sweep paper wallets using Bitcoin Wallet on your cell phone for instantly transferring the funds from the paper wallet to your Bitcoin wallet!
f). No Registration Required
Talking of anonymity, it doesn’t ask for any kind of personal information whatsoever because you don’t even need to register over the platform! Just install and start using!
Payment via Bluetooth is supported as well in an offline environment!
In fact, BTCX and Blockchain wallets are based on the core code and infrastructure of Bitcoin Wallet, so yeah it definitely deserves a place as one of the best Bitcoin wallets!
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10). BreadWallet
Website: https://breadwallet.com/
Support Device: Android/iOS
Considering we’ve discussed Android, it’s only fair we bring in iOS as well. Breadwallet is one of the best Bitcoin wallets available for iOS.
a). Full Control over funds
One of the rare Bitcoin mobile wallets which gives 100% control over funds to the users.
b). Privacy
BreadWallet offers privacy in the real sense. The company or team can’t track you, and no private information is required for creating an account.
3). Standalone Application
BreadWallet is a standalone application, meaning it’s not connected to any “Server” or online portal where you coins are stored. So it’s literally hack-proof.
Everything is stored on your physical handset.
Other Features:
- Uses Simplified Validation.
- HD wallets: New addresses for each new transaction.
- Control over fees.
Not to mention the strong security base that any iOS OS brings to the table with itself!
In fact, BreadWallet claims that it’s also armed to protect your device against physical theft, which is the only way to actually gain access to your wallet
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Final Words
So that’s a wrap up for this list on the best Bitcoin wallets folks! This list essentially embodies all the “best” wallets out there in terms of security, privacy, and other factors.
The one kind of wallets we didn’t discuss are the “Hardware Wallets”, they are the safest and secure kind of wallets, although they can’t be downloaded, need to be purchased physically from a retailer.
But it’s possible that you might have crossed paths with another wallet which isn’t mentioned here, and if you think it can compete with the ones listed above, do leave the name in the comments section.
