We have already told what Bitcoin wallets are and what they are. Now let’s talk about how to choose and start a bitcoin wallet that will fit your capabilities and respond to requests.
This is the “official” client of the Bitcoin network, which is developed and promoted by the Bitcoin Foundation, a non-profit organization uniting kernel developers. Bitcoin Core is considered the best bitcoin wallet, it not only serves network transactions but also allows you to create a bitcoin address for sending and receiving bitcoins, as well as to store the private key. Bitcoin Core takes up quite a lot of disk space and requires quite large capacities from a PC.
Armory runs on top of Bitcoin Core and extends its functionality. This client is more suitable for advanced users. It requires management flexibility and the ability to ensure the security of keys. With Armory, you can even create messages that will be signed with your private key so others can be sure that the message came from you.
Electrum requires minimal effort after installation, you just need to choose a server. You get a phrase that you need to write or print – it will become a kind of guarantee in case of loss of a password. Electrum has support for checks or invoices, and their list will appear in the wallet after paying for the first check. Electrum offers work not only with Bitcoins but also with other cryptocurrencies, including Litecoin (LTC / USD). You set the amount of the commission manually, but it must be at least 0.00005 Bitcoin (Bitcoin).
Some wallets emphasize anonymity. For example, DarkWallet comes with a browser extension with additional features, including mixing bitcoins, when tokens of different users are mixed to make tracking difficult.
Bitcoin Wallet connects directly to the Bitcoin network, which guarantees a high level of security. It has a fairly simple interface, so this is a great option for newbies. Bitcoin Wallet supports payment by scanning a QR code and NFC.
Mycelium is one of the most popular Bitcoin wallets for Android. It allows you to create backup copies, sell and buy bitcoins for dollars, as well as freeze the cost of cryptocurrencies in fiat currency.
Coinomi is based on open source, offers more than 40 cryptocurrencies, exchange tool and backup in HD wallet. HD wallet is a hierarchically determined wallet 128-bit value that looks like a phrase of 12 words. This prevents users from choosing a weak password and gives additional protection to complicate the selection process; each phrase passes 100,000 rounds of encryption using the SHA256 algorithm. Access to Coinomi is provided by keyword.
GreenBits is a native Android version of the GreenAddress wallet. This is a multi-signature wallet that also supports TREZOR and Ledger hardware wallets. The keys are not transmitted to the server, even in encrypted form, so if you forget the password, it will be impossible to recover it. You need to use two-factor authentication to enhance security.
The Russian web project Kryptonator offers instant exchange and withdrawal of money for Yandex Money, Visa and Mastercard, and two-factor authentication. The wallet supports 15 cryptocurrencies. No multi-signature and backup in HD wallet. Fiat wallets at the Cryptonator can only be used for depositing, storing and exchanging money, but you cannot pay or transfer between accounts.
Apple is known for its paranoid attitude to bitcoin wallets. In November 2013, the Coinbase wallet mobile app was removed from the App Store, and on February 2014, the same fate befell the Blockchain version for iOS. However, in July of the same year, similar applications began to appear again in the iOS store, and now almost all the leading purse authors have released versions for this system.
BRD wallet is an iPhone wallet that was recently introduced in the Android version. BRD wallet is an open-source and offers full control over private keys.
Copay is an open-source BitPay project. Copay is presented in versions for Android, Windows Phone, iOS and for all desktop OS. This wallet allows you to create multiple accounts and share wallets for work and personal.
Blockchain is the most famous online wallet. He suggests creating backup copies, recommends a commission and allows you to change it manually. The service does not store user passwords on its servers. You need to use two-factor authentication to enhance security.
Xapo stores user funds offline on secure servers that are not connected to the Internet. The company offers to use a debit card tied to a bitcoin wallet, which can pay for goods worldwide. However, if you lose your privacy, you must provide personal documents and a phone number.
Coinbase manages the bitcoin exchange, and its services are integrated directly into the wallet. The wallet has a rather complicated identification procedure when exchanging physical money for Bitcoins (full verification of the person and all the bank account data is required). Transactions are carried out outside the blocks, so they are confirmed instantly. Recently, however, users often complain about the company’s blocking of accounts at its discretion and delays in the withdrawal of funds.
HolyTransaction is considered one of the most reliable wallets. It supports 13 cryptocurrencies and provides two-factor authentication, but it does not have a multi-signature and backup in HD wallet.
This solution is intended for bitcoiners with large reserves of cryptocurrency who do not want to rely on third-party bitcoin storage services. Trezor allows you to save tokens off the network, and after connecting to a computer to perform scheduled operations. The main advantage is that the wallet can be used even with computers infected with viruses since it is not sensitive to fraudulent software.
Bitcoin Wallet Compact Ledger USB uses protection with a smart card, while it is not too expensive. Ledger Nano stores secret keys and can be used as a secure prepaid card. The wallet does not have open-source code, but it can be tested using a previously known algorithm. Ledger Nano S supports not only bitcoins but also ether (ETH / USD).
The creators of KeepKey have released an extension for Chrome, which allows you to receive and send bitcoins without having to open pages. KeepKey perfectly integrates with other wallets (for example, Electrum). Supports bitcoin, litecoin, and other cryptocurrencies.
First of all, a bitcoin holder should be concerned about security, so you should choose either e-wallets with multi-signature, two-factor authentication and backup in HD wallet, or spend money on a much more reliable hardware wallet.