Last Updated on October 20, 2023 by cryptocreed
The safety and security of your Bitcoin are your responsibility. Here in this post we compare and review the best and most secure Free Bitcoin Wallet available for you. And you have to know that Bitcoin transaction is not reversible.
If you are new to Bitcoin or the cryptocurrency world then you should read our Bitcoin safety guide before buying Bitcoin or storing Bitcoin.
If you are a newbie then you should know that the Bitcoin wallet address is different than the private key hence here most wallet doesn’t allow you to store your own private keys. So never store your Bitcoin in one place.
Types Of Bitcoin Wallets
You can find a number of the Best Bitcoin Wallets on the Internet. Some of them are more secure and some of them are not.
Bitcoin Wallet is divided into mainly 5 types which are Desktop, mobile, online, hardware, and paper wallet. Most people use the Online wallet for transactions. We tried here to review some of the Bitcoin Wallet Best for you.
Bitcoin desktop wallets offer a level of security for your Bitcoins to store. best desktop wallet for Bitcoin
You need to download the software on your PC and perform Bitcoin transactions from desktops.
This option is hard to understand or more confusing than online wallets for newbies.
Bitcoin Core is the first Bitcoin wallet; also can say the original Bitcoin Wallet. Using Bitcoin Core means having control over both your public and private keys, which ensures safe storage.
To download this Bitcoin wallet your computer requires a lot of space, as the software comes with data on every Bitcoin transaction ever performed.
According to the download page of this wallet, you need 65 GB or more of free space.
Multibit is also one of the safest Bitcoin wallets. To use this wallet you don’t need more space like the need in BITCOIN CORE. It’s just over 30MB.
They called themselves “The Only Open-Source Wallet With Gold Storage and Multi-Signature Support“, Armory is also one of the most popular and oldest desktop wallets. In this wallet, private keys are stored in offline computers, which means that only the physical location of the computer can steal bitcoins.
It is a good way to keep a small amount of money or bitcoins in wallets, while the rest of them keep in other security options.
Best bitcoin wallets
Bitcoin mobile wallets are not only accessible and practical. Given mobile wallets are available for both Android and iOS users.
Mycelium is one of the most recommended and safest BITCOIN storage wallets for mobile. Boasting “BANK GRADE SECURITY”, it boasts Hierarchical Deterministic wallets, watches only, and private key deletion accounts.
Xapo is famous for its vault and security, Xapo is combined Multi-sig technology and cold storage to keep users Bitcoin safe. Its servers are kept “behind reinforced concrete walls, a steel blast door and radio wave-blocking Faraday cage”, located within the Alps.
Wirex is a full-fledged Bitcoin service that offers both online and mobile secure Bitcoin wallets. What differentiates Wirex from others is its ease of use while not compromising security. wallet BTC.
Users get Multi-sig wallets and can enable 2-factor authentication (2FA) for both the Bitcoin wallet app and wirex linked email address, making third-party breaches hard. best bitcoin wallets online
Online Wallets are wallets that are very easily accessible on the web via any device or from anywhere so long as they can be connected to the internet. Online wallets are easier and faster to make transactions from anywhere due to their accessibility. But Online Wallets are not as secure as others, it’s easy to hack Online wallets for hackers by Phishing, Malware, Insider Hacking, etc.
Recently the two huge failures of bitcoin exchanges Mt Gox and Bitfinex make people wary of such services.
Coinbase is the leading exchange service today for buying and selling Bitcoins. It was founded in 2012 and since then it received over 32$ million in venture capital funding. Coinbase wallets are available in some countries only around the world. They recently launched their Vault service which denies the company control over your funds.
Coinbase is one of my favorite Bitcoin Online Wallets.
Blockchain.info is the most popular online wallet with 8.5 million wallets, which everyone uses to perform and check Bitcoin transactions. Multi-country support and cross-capability. The blockchain web wallet is also available on desktop and mobile Bitcoin wallet apps.
One of the respected names in the Bitcoin world, BitGo is considered a leader in blockchain security.BitGo is great for individuals and businesses who prefer near-instant transactions. Usually, BitGo takes 3-6 confirmations to send your bitcoins transactions and it takes near 30-60 minutes
Best Bitcoin Hardware Wallet
Hardware Bitcoin wallets are user-friendly and portable. The Bitcoin wallet hardware gives users complete control of their own Bitcoins.
One of the biggest fears of a Bitcoin holder is the unknown transaction that depletes all of their Bitcoin savings. KeepKey helps to alleviate this fear. You have to approve all or each outgoing transaction in the KeepKey device manually. KeepKey is pin protected device.
Trezor is a trusted name in the Bitcoin Community. Trezor is small and simple to use. It was better security against malware and disaster recovery in case of theft or loss of the device.
The smallest and most cost-effective option is the USD-sized ledger nanocones in a few variations. Wallets for BTC. Every day you can select between Ledger Nano or Ledger Nano S. The latter is the first hardware wallet that can also store Ether.
Bitcoin Paper Wallet
Bitcoin paper wallets are most effective against hackers but unlikely its hard to store. Bitcoin wallet paper can destroy, torn, lose, or otherwise fade. If you lost your paper, then there is no way to recover your BITCOINS.
Conclusion: Do you know which Bitcoin wallet you should use? If you are using wallets to store a small number of coins then go with an online or desktop wallet. But if you are planning to store lots of coins then you must purchase a hardware wallet because they are safe. LedgerNano is the best wallet for bitcoin