The Best Bitcoin and Crypto Wallets You Should Pay Attention To
Choosing a wallet is one of the key stages when working with cryptocurrencies. Companies provide a wide range of crypto wallets tailored to different needs: some are better suited for secure storage, while others are designed for convenience, but hardly suitable for storing large amounts.
Select the best crypto coins to mine in 2022 here.
In this article, we will look at the best Bitcoin and crypto wallets of various types, get acquainted with popular products, and compare them with each other.
How to buy Bitcoin anonymously? Read more here.
How do we compare the best Bitcoin and crypto wallets?
- Non-custodial storage
Non-custodial clients do not store users’ private keys, passwords, and seed phrases; therefore, they are considered the most secure. Control over the funds in such crypto wallets belongs entirely to the users themselves.
But custodial services have their advantages. For example, they allow you to exchange cryptocurrencies for other crypto assets or fiat directly in your account, and they can also support additional functions: staking, depositing at interest, and much more. Over their use, we must accept these risks.
There are hybrid online wallets. For example, the wallet Blockchain.com is non-custodial. Users can make an unlimited number of transactions, but the interface also supports the functions of exchange (Swap), deposit, and purchase for fiat currencies.
By this criterion, we determine whether the program contains open or closed source code. Open source code allows independent developers to audit and identify vulnerabilities if they are present in the client’s sources. In other words, open code implies a lack of trust in the developer, and closed code implies trust in the development team.
This item reflects whether the wallet has additional features to improve user anonymity, such as rotation of BTC addresses, combining crypto transactions, or support for delivery addresses.
- Intuitive interface
Many novice users, as a rule, have enough basic functionality to transfer and receive coins. They do not need advanced functions that load the client interface and complicate interaction with it.
The list of crypto wallets
CRP.IS or Crypto Exchange – a decentralized crypto exchange where users can buy, sell, exchange, trade, or withdraw available cryptocurrencies. The exchange is a no-KYC platform where each person stays anonymous and under protection. CRP.IS is also can be used as a reliable crypto wallet where users’ funds can be securely saved.
Crypton exchange is backed by the blockchain Utopia P2P ecosystem. Utopia is a secure and anonymous network for providing online confidentiality and stability for users. Several built-in tools ensure secure messaging, file sharing, data searching, online payments, etc.
Find out other advantages of Utopia P2P here.
Read more about Crypton Exchange benefits here.
One of the oldest Bitcoin wallets, Electrum was created in 2011 by a team of independent developers from MIT and contains open-source code. This is a lightweight client that stores only part of the blockchain history, which is then uploaded to the server.
Electrum supports only Bitcoin, but there are versions for other cryptocurrencies: Electron Cash (for BCH), Dash-electrum, Electrum LTC, Qtum Electrum, and many others. Many crypto wallets take Electrum code as a basis, which indicates its reliability, tested by users and developers.
One of the main features of Electrum is the storage of files in encrypted form, which can be accessed with a password. Even if your PC is stolen, the interface can’t be opened if you can’t find the password. The Electrum bitcoin wallet also supports cold storage of private keys on the user’s device, integration of hardware wallets such as Trezor or Ledger, and additional security features: multi-signatures and two-factor authentication.
Read our comparison of Trezor vs. Ledger and choose the best.
Armory is an open-source desktop Bitcoin wallet created in 2012 by independent developers, with support for the highly secure and autonomous Glacier protocol. Among the features of Armory Wallet, multi-signatures and the function of cold storage of cryptocurrencies stand out.
The crypto wallet supports only one cryptocurrency – Bitcoin. Management is entirely on the client-side. You can store bitcoins offline, and create transactions in a “view–only” wallet, isolating the main account from the internet. Armory is compatible with Windows, macOS, Linux, and even Raspberry Pi operating systems. It supports both Legacy addresses and a new type of Segwit Bitcoin addresses.
Wasabi is an open-source desktop wallet based on CoinJoin, a special type of Bitcoin transaction in which several users come together to combine their coins into a single transaction. This protocol allows you to significantly increase the anonymity of coin owners. Even though this concept has existed since the very beginning of the appearance of Bitcoin, only a few crypto wallets have implemented it.
Among the features of Wasabi, integration with cold hardware wallets stands out, as well as with the Tor network, which increases anonymity and allows the coordinators not to disclose the user’s IP address. Wasabi is available on Windows, macOS, and Linux platforms.
Bitcoin Core, formerly known as Bitcoin-Qt, is an open-source wallet that stores the entire history of the blockchain on a local node. At the time of writing, the history of Bitcoin blocks occupies more than 200 GB of memory. A fully decentralized Bitcoin core wallet allows the user to deploy a full node on his PC to broadcast transactions to the blockchain network.
The original crypto wallet is secure, provides full control over funds and commissions, and does not require the participation of third parties to verify transactions, but the user will need some technical knowledge to understand how it works and a high internet connection speed for a stable client operation. Bitcoin core can be downloaded from the official Bitcoin website Bitcoin.org.
The non-custodial mobile wallet Samurai Wallet is positioned as an anonymous client with the ability to send bitcoins offline to circumvent network restrictions or in the absence of an internet connection. It is only available on Android devices.
Samurai Wallet was created in 2015 and became one of the first clients to support the renewal of the Segregated Witness Bitcoin network. Also, the Samurai crypto wallet has many advanced features:
- Dojo is a module that allows you to deploy a full node on the plug–n-play principle.
- STONEWALL is an option that removes a digital footprint from metadata and protects users from address cluster deanonymization attacks.
- PayNym hides the address from everyone except the sender and recipient.
- Batching of several unrelated transactions allows you to reduce the mining fee.
- Scrambled PIN prevents screen capture by spyware.
- Stealth mode hides the wallet file from the main screen. To start, you can use a secret code.
- The Whirlpool function breaks the connection between the inputs and outputs of transactions, making them more difficult to track.
The BitPay open-source wallet supports multi-signature and two-factor authentication to improve security and allows you to exchange cryptocurrency for fiat and manage crypto assets on different platforms. Users can create several crypto wallets, pay for goods using a BitPay card or buy gift cards from Amazon, Uber, Spotify, Google Play, and many other companies for cryptocurrency.
The BitPay service provides crypto payment solutions for businesses that allow companies to accept payments in cryptocurrencies. Among the merchant partners, there are such large companies as Microsoft, Neteller, Twitch, and Shopify.
Ellipal Titan is a heavy-sealed hardware wallet, first released in 2018. It supports Air-Gapped transaction transfer technology. The Ellipal Titan differs in appearance from many other similar devices and resembles rather a small smartphone with a touch screen. Among the distinctive features is resistance to damage and the effects of pressure, water, and dust, as well as support for more than 7,000 cryptocurrencies and tokens.
The device has a 5-megapixel camera that allows you to read QR codes to send cryptocurrencies. Another distinctive feature of the device is that it cannot connect to a PC via USB, WiFi, or Bluetooth. Ellipal Titan is compatible with iOS and Android devices and is controlled using an app on a smartphone.
Magnum Wallet is a non-custodial multi-currency open-source web wallet that allows you to manage and track the statistics of your crypto portfolio in real-time. Also, the crypto wallet allows you to drain coins and receive additional coins from hard forks.
Users can buy cryptocurrency from fiat directly in the Magnum web client using partner services, as well as integrate Trezor and Ledger hardware wallets. Telegram notifications and a “view-only” mode are also available for a security. The main drawback of the Magnum crypto wallet is security: online clients are susceptible to phishing and other types of online attacks, as we have repeatedly said.
What is phishing and how can you protect yourself from this? Read in the article.
BitGo is a multi-currency platform that supports the storage and exchange of the most popular cryptocurrencies. The service develops secure and functional solutions aimed at institutions. The platform offers custodial services and a secure multifunctional cryptocurrency wallet with the possibility of offline storage of a backup key.
The BitGo crypto wallet supports multi-signatures and a multi-user interface. With BitGo, the owner can manage user rights and determine who can spend coins and who can only view transactions. Administrators can set transaction limits and assign users who will approve transactions.