The Best Crypto Wallets

Choose The Best Bitcoin Wallet for Your Digital Coins [2021 Guide]
 


The best Bitcoin wallet or the best cryptocurrency wallet is a special tool in which users can store their public and private keys to access their cryptocurrency. The best crypto wallet can also be used to send, receive, exchange, buy or sell cryptocurrency like Bitcoin, Ethereum, Litecoin, and different tokens like USDT.
 


The Best Crypto Wallets 2021:

  1. Trezor
  2. Ledger
  3. MyEtherWallet
  4. Coinbase Wallet
  5. Mycelium
  6. Jaxx
  7. Bitcoin Core
  8. Electrum
  9. Exodus
  10. BitPay
  11. Bitamp

Sounds not very hard, right?
 
I would like to start our guide with the most important advice:
 
All of your assets that you managed to get after using the best bitcoin signals can not be stored on cryptocurrency exchanges!
 
Every crypto exchange is a custodial service, which means it will store your private keys on its servers, and hackers will have all the access to your money in case they succeed in hacking an exchange.
 
That is why, the path of every cryptocurrency trader - professional or newcomer, will begin with looking for the best Bitcoin wallet to store coins.
 
But if to be completely precise, coins are not physically stored anywhere – users simply receive data that gives access to private accounts. In addition, the best Bitcoin wallet allows sending and receiving crypto.
 
You have probably heard of hot and cold wallets, private keys, seed-phrases, and other unfamiliar terms. But don’t worry – we have made the best Bitcoin wallet review with the only goal - to explain everything.
 
Let’s start with the fact that for any person that is trading or hodling crypto, the presence of the best crypto wallet 2021 is a vital necessity.
 
“Bitcoin, and the ideas behind it, will be a disruptor to the traditional notions of currency. In the end, the currency will be better for it.”
Edmund C. Moy, the Former Director of the US Mint.
 
Crypto is compared to electronic money. Thus, you can match the best cryptocurrency wallet to the one, where we store money. But before we will talk about storage types, let’s find out which one is the best Bitcoin wallet 2021 when it comes to usability and security.
 
We promise that you won’t find a more updated and clearer article no matter how hard you try!
 


Hot Wallets VS Cold Wallets
 

hot wallet vs cold wallet

Hot and cold wallets have, usually, similar functions - they all allow sending, receiving, and simple storing your crypto coins. The only difference between a hot and a cold best cryptocurrency wallet 2021 is that the first one works only with the Internet connection, while a cold one can work even without it.
 
Shortly speaking, a hot Bitcoin storage is connected to the Internet, and a cold one is, accordingly, not connected to any network.
 
Hot iOS crypto wallet representatives are less secure because there’s always a risk of losing sensitive data via the Internet. But they are more popular among users.
 
Speaking of hot wallets, let's talk about top bitcoin exchanges, which also act as vaults. Exchanges such as Binance, Coinbase, and so on, allow you to store funds on your account, but all the information, including access to your money, will be stored on their servers, which reduces the security of your data and assets.
 
If you want to work with the hot wallet, you need to pay attention to the following factors:
 
  1. Cryptocurrencies it works with - only Bitcoin or Ethereum, or different altcoins;
     
  2. The presence of two-factor authentication, password, seed-phrase, Hierarchical Deterministic, PIN, etc.;
     
  3. Multi-signature feature, which will allow you not only to increase the security level but to have one best Bitcoin wallet with your business partners, friends or relatives;
     
  4. Experience of the company should be high, that is why we recommend you to check the users’ feedback, reviews, etc.
     

All the above-mentioned factors play important roles in the security and ease of use of the storage.
 
Cold wallets are safer but they are more difficult to use and are not very convenient because you can’t use them anywhere as hot wallets.
 
While choosing the best Bitcoin wallet with cold storage, we recommend you to pay attention to the next important features:
 
  1. Security. And this feature is the most important because it is a key feature of cold storages. Also, remember to work only with trusted services that have a good reputation and experience.
     
  2. Ease of use. Cold wallets are not very convenient in use, but still, the general design and the clear view of all the functions should be present.
     
  3. Access. You need to be prepared to access your funds only from one laptop or computer. It means you can’t send money when you are in a cafe or during shopping. I don’t think this moment is essential but some people prefer hot wallets because of the easy access from anywhere.
     

Choosing the best cryptocurrency wallet app and deciding what the best crypto wallet 2021 is, you need to understand that everything depends on your needs and wishes.
 
If you make small transactions quite often, then you will better stick to hot wallets. But if you plan to HODL for a while, cold storage can be your best friend.
 


Private Key
 

private key crypto wallets

A private key is a key, or password, that unlocks the best cryptocurrency wallet. It is created or received by each user when working with the best Bitcoin wallet. This key is one of the most important levels of protection for your funds. To access your best Bitcoin wallet Android, as well as to receive and send Bitcoin, you need to enter a private key.
 
I suppose there is no need to explain that when losing the key or when it ends up in someone else’s hands, you may lose all the money.
 
That is why it’s so important to store this key in a safe place that no one else has access to. Some best Bitcoin wallets store keys offline, others – online. So it’s only up to you to decide which one is the best crypto wallet Android in terms of key storage.
 


Multi-Signature Wallets
 

multi-signature wallets

When discussing the best Bitcoin wallet we couldn’t pass by multisig ones. Reusable storage requires at least two key signatures to authorize a transaction.
 
This means you have to trust the other party. However, unlike holding funds on an exchange, you can choose the identity of this third party, and even if this key owner “betrays” you, they cannot unilaterally access your funds.
 
In other words, all sides of the transaction should enter their own codes. The best ethereum wallets are usually perfect for family usage or business. Besides, the multi-signature feature acts as an additional protective measure for your cryptocurrency assets.
 


Multi-Currency Wallets
 

multicurrency crypto wallets

Some examples of the best cryptocurrency wallet allow you to store multiple coins (and sometimes more than 100) in one application. This option is ideal for day traders who trade with Bitcoin, Tether, or Ethereum.
 
In addition, there are a lot of people who invest in potentially growing altcoins, of which there are quite a few, so a multi-currency service will be an excellent solution for them, which will allow them to keep all their assets in one place.
 
For example, wallets such as the Exodus wallet allow storing Bitcoin, EOS, Ether, Dash, and other currencies.
 
Moreover, the best cryptocurrency wallet 2021 allows converting one coin into another. So if you receive ETH and want to exchange it on USDT, this the best crypto wallet will exactly help you.
 
You can also check such wallets as Trust wallet, Ledger Nano which is the best Bitcoin wallet, and KeepKey. However, the last two are hardware wallets.
 
It’s difficult to say which storage supports the biggest number of coins because new types of crypto are added on a regular base allowing wallets to compete for users’ attention.
 


Custodial VS Non-Custodial Wallets
 

custodial vs non-custodial wallets

Custodial crypto wallet representatives don’t give users access to private keys and simply store them on servers. The main benefit of the best crypto wallet like this is that you can restore access if the password was lost or forgotten.
 
But, in case of a hack attack hackers will receive access to your tool by simply having access to the server. For example, in the summer of 2016, hackers withdrew almost 120000 BTC from the crypto wallets of users of the Bitfinex crypto exchange, which kept funds in a hot wallet. Neither two-factor authentication nor multi-signature prevented the theft of funds.
 
Also, during the maintenance work, you will not be able to access your funds.
 
Custodial wallets are available on many crypto exchanges (Coinbase, Kraken, Bitfinex, Binance, Poloniex, Bittrex, Coinex, Bitstamp, etc.), trading platforms, and brokerage services.
 
A non-custodial blockchain wallet is one of the safest Bitcoin wallets and operates in the opposite way – you gain total control over the access without using servers.
 
The cons of using these top Bitcoin wallets are that when losing the private key you won’t be able to regain access to the account.
 
For example, if you have lost your laptop or smartphone, restoring access to the account may be possible only by using the seed phrase. It’s given when you open an account.
 
Well, of course, if it’s not stored on the device that you have lost.
 
At the moment, you can pay attention to Trustee, Jaxx, Copay, and other representatives.
 


Types of Bitcoin Wallets
 

Bitcoin wallets are not limited to one option, so users can choose from five types of TOP crypto wallets – web or online wallets, mobile wallets (installed on smartphones and tablets), desktop wallets (which run on computers and laptops), hardware wallets, and paper ones.
 
Below we’ll tell you about each of the types of Bitcoin wallets, so you could choose the best Bitcoin wallet depending on the needs and expectations. For example, if you plan to store a big number of coins, it will be better to choose a hardware wallet.
 
But when speedy transactions are needed, you can turn to Blockchain.info or Trustee.
 
After reading the guidelines below even bagholders will find the best Bitcoin wallet for Android to their taste!
 

Hardware Wallets
 

hardware crypto wallets

Such TOP Bitcoin wallets representatives as KeepKey, Ledger Nano S, and Trezor wallet give access to coins with a high protection level because private keys are stored only on the device and not on servers of any company.
 
Even though they may cost from $60 to $100, such wallets allow you to proceed with secure transactions without fear of hacker attacks.
 
Such wallets are good for receiving and storing Bitcoin and other crypto coins. Once the coins are in a wallet, one part can be transferred to another place for regular usage, while the main part will be safely hidden on a hardware wallet.
 
The key mechanism is that hardware storage needs to be connected to a computer, phone, or tablet before you can spend coins. Experts advise you to use a separate computer for payments.
 
These storages are very safe but, in my opinion, they are very hard to use for newcomers. So if you only start your cryptocurrency path and don’t need to store big sums, it will be better to work with mobile wallets.
 

Desktop Wallets
 

Desktop crypto wallets

As we have mentioned above, such wallets don’t need downloading blocks.
 
All the data is available through servers. Such a best Bitcoin wallet is very easy to manage when using tablets and laptops. They are fast and convenient.
 
There is only one but:
 
Everything that requires verification is conducted by a third party, which bears harm to security. Luckily, you still own the private keys.
 
Thick wallets require uploading a full blockchain copy on the computer. The best cryptocurrency wallet like this is called Bitcoin Core. A thick service is a full network node, which not only allows managing a personal account but also supports blockchain viability.
 
A thin desktop crypto storage occupies only a few MB of memory and takes several minutes to install. It’s a client program, which doesn’t require uploading all the blockchain. It allows for conducting transactions and creating Bitcoin addresses.
 
These wallets don’t work with the network directly (unlike thick ones) but through the developer’s servers. Thus, they are not so safe. Examples of the best Bitcoin wallet are Jaxx, Electrum wallet, and Exodus wallet.
 
If you need a break, go and grab some coffee, we’ll wait!
 

Online Wallets
 

online crypto wallets

By now you know that it’s impossible to say which tool is the best BTC wallet for Android. We can simply tell you about the pros and cons of every type to simplify the choice.
Browser wallets have a series of advantages.
 
First of all, there’s no need to download all network blocks, which saves lots of time both during the first loading and during each run. Opening such an account can be conducted on multiple devices no matter where you are.
 
Just be sure there is a good Internet connection.
 
Most of such services offer additional benefits like sending coins on emails or indicating sell phone numbers. Users can also send notifications and use address books.
 
But no matter how good it sounds you shouldn’t forget that with the use of any online crypto storage (just like with a bitcoin trading bot) there is a risk to lose your money. When the best bitcoin cash wallet is hacked, your crypto can be stolen.
 
Thus, the coins’ safety is on you.
 
However, the users of the service themselves often make mistakes. For example, they can forget the password, or, by mistake, make it available to third parties. All this forced the developers of wallets to implement additional security measures:
 
  • SMS-confirmations,
     
  • two-factor authentication,
     
  • multisignature,
     
  • HD wallet, etc.
     
What's the best Bitcoin wallet among all of the online ones?
 
The most popular online storages are Blockchain.info, Bitpay, Cryptopay, Xapo, Matbea, and Coinbase best crypto wallet.
 

Mobile Wallets
 

mobile crypto wallets

The good news is that you can have multiple wallets, so if you think that hardware or the best Bitcoin desktop wallet is not enough, it’s the right time to discuss the best mobile Bitcoin wallet.
 
To get the best cryptocurrency wallet 2021 of this kind you should just own a smartphone that runs on Android or iOS. Transactions can be made using NFC technologies or QR-codes.
 
Wherever you are, any time of the day and night!
 
Mobile wallets usually allow you to store multiple cryptocurrencies, make exchange, connect your account to crypto trading bot, etc. Some of such storages can even help you to buy or sell crypto using your VISA, and this is very convenient.
 
There are custodial and non-custodial mobile wallets, and, as you know now, the second one is more secure, and, according to our experience, most mobile storages are non-custodial ones.
 
Mobile wallets usually have a very bright design and plenty of convenient features, so they are the best choice for newcomers in cryptocurrency.
 
Great examples of these wallets are Bitcoin Wallet, Atomic wallet, and Mycelium.
 

Paper Wallets
 

paper crypto wallets

Sounds strange, huh?
 
But don’t be surprised and read attentively. Especially if you want to store cryptocurrency for a long period.
Paper storage is a piece of paper, which contains a printed version of public and private keys in the form of a QR code. You just need to scan it before using the wallet.
 
As a rule, paper one is the best crypto wallet in terms of safety. Here are the reasons why you should use it:
 
1. Such the best Bitcoin wallet is very convenient. It doesn’t take much time or skill to start an account. Using hardware wallets is more difficult and energy-consuming;
 
2. It is autonomous. Such a service is not available online and is protected from hackers and scammers. Your coins are represented as a piece of paper and can be compared to a cheque. With its help you can use funds or give them to others;
 
3. There are no equipment issues. Paper wallets are safer compared to hardware ones, which can be damaged and undergo software malfunctions;
 
4. Easy to pass on. If something happens to the crypto owner, relatives, and beloved ones will hardly get access to crypto exchanges or hardware wallet. But a paper one can be easily stored as a valuable asset in a drawer.
 


Ways to Make Bitcoin Storage Safe
 

ways to make bitcoin storage safe

Choosing the best crypto wallet for Android is not enough. You bear responsibility for the coins and can always use additional ways to protect your funds. Here’s what we recommend:
 
1. Encryption. Almost every best Bitcoin wallet has such a feature and doesn’t require you to be a tech geek. Just encrypt the tool using TrueCrypt or Bitcoin Core. This will significantly increase the safety of the service (but doesn’t provide complete inaccessibility to hackers);
 
2. Backups. This is one of the ways of protecting a good Bitcoin wallet along with complex passwords and two-factor identification. Make sure to have regular backups of the service and leave them in several places: disks, flash drives, etc.;
 
3. Complex passwords and two-factor identification. Use imagination and instead of an obvious password with your cat's name try coming up with a difficult set of letters and numbers;
 
4. Cold storage. Another way to protect the best crypto wallet is to store coins offline, so hackers won’t be able to gain access to your money online. Private keys are not stored on the web, so it’s impossible to steal them through the Internet.
 


The Best Bitcoin Wallets 2021 | TOP 10 Crypto Wallets Review
 

Using all the provided information, you are able now to choose the best storage for your needs. That is why below we will show you the TOP 10 crypto wallets reviews that are different from one another because of features, functions, options of strong, etc.
 
Trezor
 
This is one of the best hardware wallets that supports more than 700 crypto coins and is honorably promoted as a multi-currency one. The level of security is considered to be the highest, and that is why such wallets are not free.
 
Trezor wallet, like every hardware wallet, looks like a small flash drive and is operated with the help of a small screen. The key benefit is that all the information considering your transactions and balance is stored on your device only, and no one can manage your crypto unless he has your device and all the important login info.
 
Ledger
 
This is the next best Bitcoin wallet we want you to consider. Ledger has the same level of safety as Trezor wallet has but it works with more than 1250 crypto coins, and this amount is very impressive.
 
Here I would like to discuss the recent issue with Ledger - at the end of December 2020, news started to appear that users of Ledger received ransom threats with their private information - names, addresses, phone numbers, etc. According to the information we found, the employee gave this data to hackers.
 
So, many users thought this has something to do with their money - that it can be stolen. But no, not at all. And many people gave money to the hackers to “keep coins on the wallet” - but it would remain there in any case.
 
Here I mean that this is a very rare situation and a very bad one, but still, you need to understand that personal info is never enough to hack your wallet.
 
MyEtherWallet
 
This is a rare example of storage that supports only one single cryptocurrency. In our case, this is Ethereum. Nevertheless, the tool has a very experienced team behind and users trust it.
 
MEW is a hot wallet, which means you can access it only with the help of the Internet. Hot wallets are very easy to use, as you know, but they are more vulnerable to hack attacks than hardware or paper ones. MEW had such a situation in April 2018 when users were redirected to the scam website but the situation was quickly solved.
 
In general, this storage is very respectful, safe, and good for users who work with ETH only or don’t mind having different wallets for each coin.
 
Coinbase Wallet
 
This is the service represented by the famous cryptocurrency exchange - Coinbase. The storage supports not many coins - it is good for ETH, BTC, and ERC-20 tokens.
 
Coinbase wallet is quite safe but the feature that seems doubtful for us is that this tool is a custodial one, which means all of your data, including private keys, is stored on its servers. So, if Coinbase is hacked, your assets will be in danger.
 
Nevertheless, other security measures are on a good level, so it is very hard for hackers to succeed.
 
Mycelium
 
Here is the next service that works with only one coin - Bitcoin. So, if you like storing your coins on different wallets or you work with BTC only, this program will be a good choice for you.
 
Mycelium is a custodial wallet, and you know what it means - I am not going to tell it one more time. Also, the safety of your assets 50% depends on you.
 
Also, we think that this tool is going to be a bit hard for newcomers to use because of the difficult design and navigation. But, in general, this tool is safe and good but, to my mind, it is time to develop it a little bit.
 
Jaxx
 
This storage supports around 100 coins, and the best thing about it is that it works with not popular coins like Polymath, Zap, DentaCoin, Ucash, Presearch, UnicornGold, Worldcore, Aion, Fuel, Blockmason, Melon, Match Pool, Token Card, Civic, Salt, Status, Santiment, iExec, Wax, Cofoindit, Maecenas, Storm, and Swarm.
 
If you ask for our opinion, we will tell you that we have some doubts about Jaxx security and many users’ negative feedback prove we are right. But, the service is still frequently used and loved by most of the users, which gives us hope for its better future.
 
Bitcoin Core
 
And here is the second storage that works with BTC only. Bitcoin Core is not very popular today because it is accessible on PC only and is very hard to use, and requires a lot of your computer storage space as many desktop storages do.
 
In general, the tool is very safe and experienced, trusted by many traders all over the world. But these facts can not hide that it is hard to use.
 
Electrum
 
Electrum is a very popular Bitcoin storage but the design of the service can be better, actually. Here, I don’t think it is a big disadvantage because the design is not the most important feature.
 
The storage is non-custodial, which means your assets have much better protection than with custodial wallets like Coinbase. It can be downloaded on your PC only and supports all popular software.
 
Speaking about security, I need to warn you that the service has some issues with other wallets for LTC or DASH which, in reality, are not from Electrum but from scammers. Remember that the tool works with Bitcoin only.
 
Exodus
 
If you read our Exodus review, you would know that we love this best Bitcoin wallet because of a cool design. This program can be downloaded on your computer or mobile phone, and it will store your data and private keys ONLY on your device, not on its servers.
 
This is multi-currency storage that works with more than 100 coins and is compatible with Trezor hardware storage in case you will need additional protection.
 
In general, it is very easy to work with, and during our full Exodus review, we didn’t manage to find any info about hacks or security issues, which can be considered as a very positive result.
 
BitPay
 
BitPay company is a real breakthrough in financial technologies because it offers a lot of valuable and convenient services like BitPay wallet. This storage, like Exodus, is available for your computer, laptop, or smartphone. The service has a very interesting feature - multi-signature (we discussed it before), which allows you to have one wallet with your family or business partner, and provides additional protection of your coins.
 
For now, this tool works with Bitcoin, Ethereum, Ripple, and Bitcoin Cash.
 
BitAmp
 
BitAmp is a very young tool - it was presented at the beginning of 2020 and is non-custodial storage with only supported cryptocurrency - Bitcoin.
 
The security level is very high because the tool offers cold storage, hierarchical deterministic, and has open-source code, which allows you to check the code of the program if you have the skills needed to do it.
 
As I always say, if you are okay with having different wallets for each cryptocurrency or work with Bitcoin only, this tool is very good for you.
 


Final Thoughts
 

The best cryptocurrency wallet is perhaps the only service that no trader or investor can do without - everyone needs to keep their assets in a safe place, and, as experience shows, exchanges cannot be called even 98% safe storage.
 
To sum up all the types of wallets available, let’s remember the following points:
 
  1. There are five major types of crypto storage: mobile, desktop, hardware, online, and paper. If you prefer day trading, crypto trading signals or need to send and receive crypto very often, you will better focus on the mobile or online wallet, and in case you prefer HODLing or want to have the highest assets security, you can choose the best Bitcoin wallet - the hardware or the one with cold storage.
     
  2. There are custodial and non-custodial cryptocurrency wallets. Most of the traders prefer the second type because this makes you let’s say, independent. You are the only owner of the private keys, so only you have the access to your funds (till you lost your device/share the keys).
     
  3. If you are looking for the service to be used in your company, you can check multisig wallets, which are very safe and convenient to use with other parties.
     
Types are types, but the security measures are the most important thing in every best Bitcoin wallet - mobile or hardware.
 
So, the following measures should be present in your best cryptocurrency wallet:
 
  1. The seed-phrase of 12 words will help you to restore the access in case your device is lost or broken.
  2. PIN-code that will act as additional protection, and a password to access the storage as well.
  3. Two-factor authentication and Hierarchical Deterministic.

These ones are usually present in hot and cold wallets, so in the mobile ones.
 
Choosing your best crypto wallet, you need to remember that attention is key. If you see the new and young wallet, and you want to work with it, you will better check the past activity and feedback.
 
We know that there are many new solutions today, and some of them may offer interesting features, but we recommend you to use experienced tools when we talk about storing the assets.
 

Frequently Asked Questions

  • What Is a Bitcoin Wallet?
    • A Bitcoin wallet is a secure place to store a digital asset called Bitcoin. In some cases, the software is also capable of keeping the entire transaction history.

  • Which is the Best Cryptocurrency Wallet?
    • Trezor is the best wallet for storing cryptocurrencies in 2021. Our experts have carefully analyzed this wallet and made sure of its reliability. In addition, we found a ton of evidence that seasoned traders also use Trezor to store their crypto assets.

  • What Are the Safest Crypto Wallets?
    • Safetrading experts have analyzed dozens of crypto wallets and ranked the safest cryptocurrency storage software. This list includes but is not limited to Trezor, Ledger, MyEtherWallet, Coinbase Wallet, Mycelium, Jaxx, Bitcoin Core, Electrum, Exodus, and BitPay.