Bitcoin is an open-source peer-to-peer technology used by banks or a central authority to manage transactions. As it is a form of digital currency you require Bitcoin storage wallets. Bitcoin storage wallets are nothing but software applications that use passwords to protect and encrypt your cryptocurrency. In this article, we bring you the top 10 Bitcoin storage wallets in 2021.
Top 10 Bitcoin Storage Wallets in 2021
CoinbaseCoinbase has been around since 2012 and is one of the easiest ways to buy, sell, and hold cryptocurrencies. It offers a wide range of tradable cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Tezos, and more. The platform offers a high-end interface, application programming interface (API) support, and fee structure which makes it the best in its class. The customers do have to pay a higher fee and charges but need to be relieved as they are offered high-end technology, powerful security with a robust interface.
Trezor hardware-based wallet, a device that allows you to store digital currency. The device comes with a small screen for users to manage secure connections. Users can simply plug in the device into their smartphones or computers. You can also store your digital currency onto the device in offline mode while you carry it in your pocket. As far as security is concerned it offers two-factor authentication and supports nearly more than 1000 cryptocurrencies. Trezor wallet is offered in two models Trezor One and Trezor Model T.
Ledger is yet another hardware wallet available in two models ie. Ledger Nano X and Ledger Nano S. Almost the size of a USB drive the hardware wallets can connect to your phone or computer. The device is durable as it comes with a steel cover.
The digital wallet supports nearly 1500 digital coins and tokens, 27 currencies, and around 100 applications at a time. Both the models offered are built using highly secure chips similar to the ones used in a chip-based credit card or passport. This makes them safe and secure to use.
Trust wallet is a product of Binance Chain, a competitor of Coinbase wallet. It offers a smooth trading experience on its platform. Earlier in the year 2018, it was the largest digital currency exchange in the world based on its trading volume. Its head office was earlier based in China which was later shifted to Malta due to Chinese regulations related to Cryptocurrency. Trust wallet was acquired in 2018 and is the official mobile wallet app of global cryptocurrency exchange. It supports 14 blockchains such as Bitcoin, Bitcoin Cash, Callisto, Dash, Ethereum, Ethereum Classic, GoChain, ICON, Litecoin, POA Network, TomoChain, TRON, VeChain, Wanchain, and many more to follow soon. You can download the app on Google Play and Apple App Store.
SoFi is a small financial platform for student and personal loans, a credit card, and other financial products. It offers you the facility to buy, sell and hold bitcoins and other cryptocurrencies. You can open an account with SoFi with as low as $10 and it will charge you 1.25% of your transactions as a markup.
A great platform for beginners, it offers support for 6 currencies, where you can buy Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, and Dash coins. Advanced users may not find the SoFi platform exciting.
You can call Robinhood a bitcoin wallet, though it does not meet the strict definition of a bitcoin wallet or cryptocurrency exchange. It is a securities brokerage platform similar to SoFi but much advanced.
Robinhood is a free stock trading platform, expanded into Bitcoin and other cryptocurrencies. Robinhood also allows its users to store, buy or sell cryptocurrency like Coinbase all in one place. You can also withdraw or transfer coins to another wallet using Robinhood.
Mycelium is an easy-to-use popular wallet for Android and iOS devices. It offers features such as QR-code-based payments, offline storage, and control over your own private keys. It offers secure hardware wallets that work well with the Glidera exchange API for buying and selling and other integrations. It is a complete solution for all your crypto needs from sending and receiving Bitcoin, Ethereum, and other coins with your smartphone. You can download the app from Google Play Store or Apple App Store for free and pay for the exchange fees if you use the wallet.
Exodus is a software wallet for your computer and mobile. The digital wallet offers an interface loaded with investor-focused tools. It offers a unique feature where it initially integrates with Trezor wallets to turn your digital currencies into a portfolio with graphs and charts. Offers 125 digital assets and allows you to exchange and store coins right on your desktop or in the app.
Exodus offers you a private key to access your bitcoins and other security tools along with it. There is no account setup, this means your currency and wallet is only for you. Since your private key resides on your computer make sure you always have a backup of the key, as in case your computer is stolen or crashes you may lose access to your wallet.
Yet another classic, Electrum has been around since 2011. A few changes have been made since then as far as the interface is concerned. A platform most suited for advanced users offers complex options.
Electrum is open source and offers great security features and customizability all in a simple layout. Users can set custom transaction fees and choose between legacy Bitcoin and Segwit. Users can determine the level of security they require. For instance, you can create a standard wallet using a 2-factor authentication or a multi-signature wallet.
BlockFi is a free signup bitcoin web and mobile wallet. You can buy, sell, or exchange cryptocurrencies, including BTC, ETH, LTC, and PAXG, as well as USD-based stablecoins, including USDC, USDT, GUSD, and PAX. BlockFi has proved to be the best cryptocurrency wallet in 2021 as it aims to offer more interest rates and improve the crypto trading experience. The platform can be used by users independently or choose to back up with financial giants like Fidelity and SoFi.