Two-factor Authentication: Gaining access to any single system wont let anyone hack into your Electrum wallet.Youll need a Bitcoin wallet for almost anything even remotely related to Bitcoins.
![]() Thats what this piece deals with, Ill compare, analyze the pros and cons and list the best Bitcoin wallets available for you. The problem is there are over a hundred Bitcoin wallets in the industry, but the security and other features with those Bitcoin wallets highly differ, and if you make the wrong choice, you might as well dump your BTCs down the sewer. So you need to be 100 sure about which Bitcoin wallet youre choosing, and why its best for your needs. Types of Bitcoin Wallets Before diving deeper into the best Bitcoins wallets for you to use, you need to get a firm grip on the types of wallets, their features, uses and differences, only then can you make a smart choice. Hardware Bitcoin Wallets These are specially built computers or smartcards which are built with the sole goal of generating Bitcoin Private keys. They can be used to make transactions as well, but its all in an offline environment. They can again be broken down into Ledgers, Trezors, Keepkeys etc.). Best Bitcoin Wallet Desktop Software Wallets AreThese software wallets are also called Online wallets as these can be accessed from any internet enabled device. The user gets access to their wallets via their Private keys, Passwords, Wallet Identifiers etc. Although there are other kinds of wallets ( which are out of the scope of this piece, for the sake of keeping this article simple and easier to grasp), but lets just name them out:- Paper Bitcoin Wallets Paper wallets arent very advanced, but extremely secure. They use an offline computer to print your private keys on paper. Thats about the length and breadth of the Types of Bitcoin wallets, now lets get down to why you came here for. Best Bitcoin Wallets We will be dealing specifically with Software Wallets, wallets which are accessible from either one, or all of the three devices listed below when connected to the Internet. Hardware Wallets Desktop Laptop Web ( Internet Browsers) Mobile Tablets Best Bitcoin Wallets for LaptopDesktop Rank Website Support OS SecurityFeatures Rating DownloadReview Electrum Bitcoin Core MultiBit HD Copay mSigna Best Bitcoin Wallets for Web Rank Website Support OS SecurityFeatures Rating DownloadReview BTC.Com BitGo.com Green Address Coin.Space Coinbase Best Bitcoin Wallets for Mobile Rank Website Support OS SecurityFeatures Rating DownloadReview Green Bits Bitcoin Wallet Simple Bitcoin BreadWallet AirBitz a). Desktop Wallets Desktop Wallets are Wallets which are accessed from a Desktop or a laptop, basically any computer based operating system. They can be accessed via a specific applicationsoftware made for the platform. Electrum Compatible With: MacWindowsLinux When it comes to best Bitcoin wallets, security is the primary factor I take into considerations, it honestly is hard to find an alternative which can compete against the security and reliability provided by Electrum. Encrypted keys, secret phrases, 2FA, MultiSig, and eyes-only mode etc are just some of the superpowers Electrum is willing to share with you should you choose to choose Electrum as your Bitcoin wallet. Electrum Bitcoin Wallet Features: Encrypted and Personalized Private Keys:- Your private keys are encrypted, and dont ever have to leave your primary computer system. Best Bitcoin Wallet Desktop Password Is AnRecover funds using secret phrase: Loosing Bitcoins because you forgot your password is an age-old problem, well Electrum allows you to recover your funds easily using a secret passphrase. Eyes-only Mode: Having to interact or expose your Private keys to the Internet isnt very safe, hence Electrum offers you cold storage. A feature where you can keep your private keys on an offline computer, and use a eyes-only wallet when youre online. Less Third-party Reliability needed: Electrum uses SPV ( simplified payment verification) and random servers to verify a transaction, minimizing the need of involving third-parties to validate the transactions.
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December 2020
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