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The 7 Best Bitcoin Wallets in 2021 – MakeUseOf

Hodling Bitcoin? Don’t go without our top Bitcoin wallet picks.
Bitcoin has seen massive growth in the past few years. Several factors have contributed to this growth, including the global economic crisis caused by the COVID-19 pandemic.
If you're investing in Bitcoin, it's essential to take the proper security precautions. Bitcoin wallets are storage mediums that essentially safeguard the codes required to access and trade your crypto assets.
However, the number of options can make it hard to choose the right Bitcoin wallet. So, to help new investors keep their crypto assets secure, here is our guide to the seven best Bitcoin wallets.
Bitcoin wallets hold the cryptographic keys required to access and transfer cryptocurrencies. These alphanumeric strings act as the password to your assets. In short, you can't use your tokens if you lose the keys.
There are three main types of Bitcoin wallet:
Are you looking for the best Bitcoin wallets to store your crypto? Here are seven picks that are worth a try.
Exodus is a hot wallet for Bitcoin and other cryptocurrencies. It supports more than 100 different cryptos and allows users to store, send, and receive currencies on the fly. Plus, one can easily exchange one crypto for another directly from the wallet. Sending or receiving cryptos is also effortless, thanks to the QR code option offered by this wallet.
Moreover, you can install the app on Windows, Mac, Linux, Android, and iOS devices. This makes Exodus one of the best Bitcoin hot wallets for beginners.
Coinbase is a popular crypto exchange platform that offers a robust crypto wallet for free. The wallet is hot, meaning you'll be saving your keys on the public web. It's a highly secure wallet, though, and doesn't require users to sign up. Plus, you can connect most major banks to your Coinbase wallet.
However, Coinbase does not offer any native desktop clients. You'll need to use the web interface or mobile apps for storing your keys and managing your cryptos. Luckily, a Chrome extension is available for desktop users.
Mycelium is a mobile-only Bitcoin wallet targeted at beginners. It offers many exciting features and provides greater control over transaction fees. Moreover, it stores the crypto keys on the physical device, acting as a cold wallet. Don't worry about losing your device, though. Mycelium's robust backup method provides access to your tokens even when the device gets lost.
However, it only supports trading Bitcoin and Ethereum. So, it's not a suitable option for investors who want to diversify their crypto assets.
The Nano X from Ledger is a hardware wallet for safeguarding cryptos at ease. It features a sleek design and offers up to eight hours of battery life. You can connect the wallet directly to your PC or smartphone and use it as cold storage. Moreover, the Bluetooth capability of this wallet makes it efficient for managing diverse portfolios.
The Ledger Live software provides access to the keys and apps stored on the device. It has an intuitive interface and makes exchanging assets easier. If you're looking for a solid hard wallet, we highly recommend the Nano X.
Electrum is a feature-rich Bitcoin wallet for advanced crypto traders. It's free to use and offers both cold and cloud storage. It's a highly secure service with an open-source codebase. It makes finding and patching bugs easier before any major escalation.
Plus, users can easily customize the transaction fees for their tokens. However, it doesn't support any other currencies apart from Bitcoin. Overall, Electrum warrants a try for anyone looking for a safe and secure Bitcoin wallet.
Trezor Model T is a great hardware wallet for storing cryptos and other digital assets. The design features a touch screen display and allows users to store and encrypt Bitcoin keys confidently. In addition, the U2F (Universal 2nd-Factor) hardware token on the Model T helps strengthen access control and keeps intruders at bay.
Although feature-rich, the Trezor Model T is also quite expensive. At $190, it's even pricier than the Ledger Nano X. However, if the price is not an issue for you, the Trezor Model T might be the best hard wallet option for your portfolio.
Wasabi is a free and open-source Bitcoin wallet. It's a hot wallet with built-in Tor integration, support for CoinJoin transactions, and several token control features. Moreover, Wasabi offers native desktop clients for Windows, Mac OS, and Linux. So, you can use it on any of your devices at ease.
Moreover, all network connections made from Wasabi go through multiple Tor bridges, making it suitable for privacy-focused users. Overall, it's a great option for people who're looking for a secure yet flexible Bitcoin wallet.
Crypto wallets provide a safe and reliable way of managing your cryptocurrency assets.
No matter whether you're a new investor or a seasoned expert, it'll be impossible to manage your portfolio without a high-quality Bitcoin wallet. In terms of usage, hot wallets like Exodus and Coinbase are the most convenient. On the other hand, hardware storages provide greater security and keep your assets safe from various crypto attacks.
You can invest in cryptocurrencies, but the real question is should you…
Rubaiat is a CS grad with a strong passion for open-source. Apart from being a Unix veteran, he’s also into network security, cryptography, and functional programming. He’s an avid collector of secondhand books and has a never-ending admiration for classic rock.
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