The 9 Most Reliable Bitcoin Wallets & Purses for Altcoins

You are in search of the best and safest Bitcoin wallets and other cryptocurrencies that you can use. But before we delve into this, here is a brief reminder of the different types of wallet:

  • Hot Wallet: A hot wallet has a direct Internet connection and is usually online.
  • Online wallet: like a hot wallet, accessible only through the Internet.
  • Desktop wallet. Desktop wallets (also called software wallets) are installed on your computer and allow offline management.
  • Mobile wallet. Mobile wallets are installed on your smartphone, they are often a hot wallet and allow you to manage mobile devices.
  • Hardware wallet. Hardware wallets are portable physical devices with strong encryption.
  • Cold Wallet: A fully self-contained wallet that receives only cryptocurrency.

You will need to store your cryptocurrency in one of these types of wallet. Are some of them safer than others? Well yes. A cold offline wallet is safer than a hot online wallet, but it is also designed for various purposes (long-term storage or quick access to transactions).

Here are some of the safest bitcoin wallets. Many of these wallets also support thousands of other cryptocurrencies, so you can diversify your portfolio without buying or installing another wallet.

1. Electrum

 

Supported cryptocurrencies: Bitcoin.

Electrum is one of the oldest wallets available to Bitcoin users. You create your personal wallet encryption key using a 12 to 24 word phrase. This gives your private key encryption between 128 and 256 bits, making it very difficult to crack.

The seed phrase is also a recovery tool; forget your password and the phrase is the only thing that will get your wallet (and its contents) back. Also, the encryption type of your private key is AES-256-CBC. Simply put, it's very powerful.

Electrum has support for multiple signatures, support for two-factor authentication (2FA), decentralized servers (which means no downtime), as well as support for offline cold storage and installation of a USB drive.

2. Jaxx

Cryptocurrencies are supported: Bitcoin, Ethereum, Ethereum Classic, Litecoin, Bitcoin Cash, Dogecoin and more than 50 others.

Jaxx is another popular secure bitcoin wallet. Part of Jaxx's popularity is due to the wide range of support for crypto tokens that can be found in a single software wallet, allowing users to manage large portfolios from one place.

Jaxx uses a 12-word phrase to create secret encryption keys for your wallets, giving them 128-bit encryption.

In addition, Jaxx does not store any information about users, personal wallet data or funds on centralized servers, storing all the information in your system.

3. Mycelium

Supported cryptocurrencies: Bitcoin.

Mycelium is one of the best bitcoin wallets for android. In 2014, it even won the "Best Mobile App" award from Blockchain.info, and the app received great reviews on the Google Play Store.

Mycelium receives such accolades for several reasons. Firstly, it is open source, that is, you can check its source code for errors and vulnerabilities.

Secondly, it contains a long list of security features that are vital to protecting your cryptocurrency on your smartphone. These include cold storage functions, PIN codes, control of your personal encryption keys (enabling wallet backup and deleting / restoring keys), as well as managing multiple accounts.

In addition, Mycelium uses the master-seed method, in which all your wallets are associated with your initial seed phrase, which means that you need to backup only once to restore all your wallets. You can configure the application to use a PIN code when opening it; it does not support 2FA or support for multiple signatures.

There is an application for iOS, but it is no longer being developed; There are reports that users are losing their wallets. The Android app is regularly updated so far.

4. Greenbits

Supported cryptocurrencies: Bitcoin.

In cases where Mycelium contains many features, Greenbits takes a minimalist approach to the user interface. But this does not mean that it saves on security; In any case, it is more secure than Mycelium and many other bitcoin mobile wallets on the market.

GreenBits uses a 24-word phrase to give your wallet private 256-bit strong encryption keys. GreenBits uses 2FA, has support for multiple signatures and supports recovery transactions in case something goes wrong.

Plus, you have full control over your network fees, meaning you can set them however you like. Add cycling to your wallet (to stop snooping) and the ability to use Tor as a proxy, and GreenBits is a secure cryptocurrency wallet with a focus on privacy.

The GreenBits app remains secure with a PIN. This PIN will be generated the first time you launch the app. After that, you will receive a PIN code prompt every time you launch the app. If you enter the wrong PIN three times, the app will delete your encryption key, meaning the only recovery is a 24-word mnemonic. Without it, there is no hope - so be sure to copy it to a safe place.

5. Blockchain

Supported cryptocurrencies: Bitcoin (+ forks), Ethereum

The company, which operates one of the most significant platforms for checking and analyzing bitcoin chains, also has one of the safest Bitcoin wallets. Blockchain wallet is safe, easy to use and supports a wide range of optional currencies.

Blockchain Wallet uses a 12-word passphrase to protect your wallet, acting as a backup to provide access to your funds. Similarly, encryption takes place on your device, that is, the private encryption keys of your wallet never leave your possession, and only you have access to the wallet. It also means that you can back up as needed, while Blockchain backs up server-side using strong encryption.

Other security features include 2FA, PIN protection, import of paper wallets, as well as sending a wallet code for regular security checks.

6. Trezor

Cryptocurrencies are supported: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, ERC-20 tokens and many others.

Trezor is a hardware wallet. It works as a type of safe refrigeration storage. You transfer your bitcoin or other cryptocurrencies to your device using the Trezor interface available from macOS, Windows, Linux and Android. The interface is easy to use.

For security reasons, Trezor uses an initial seed phrase of 12 to 24 words for protection and recovery, as well as a user-defined PIN code. In addition, you can add an encrypted passphrase to your Trezor for yet another level of security or even set up hidden wallets.

7. Ledger Nano X

Supported cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, ERC-20 tokens and many others.

This secure bitcoin wallet is another hardware wallet, the Ledger Nano S. In addition to the popular Nano S, it acts as a kind of "cold storage", allowing you to transfer bitcoins and other cryptocurrencies to your device using another computer.

As with many other wallets from this list, Ledger Nano X uses a standalone 24-word phrase for recovery (including a handy piece of paper to write it all in a box). After confirming the recovery phrase, you will create a secure PIN.

The Ledger Nano X remains malware-proof on other devices you connect to via cryptographically secure dual microchips; Ledger Nano X is its own secure environment.

One small downside is the lack of passphrase support, but overall the Ledger Nano X is a very secure hardware wallet. In fact, using a secure hardware wallet is one of the best ways to stop thieves from stealing your cryptocurrency.

8. Exodus

Supported cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, XRP and another 100 supported assets.

Exodus is a safe and beautiful desktop bitcoin and altcoin wallet. It’s a pleasure to look at and claims to be “the world’s leading desktop cryptocurrency wallet.”

What sets Exodus apart from other wallets is its focus on user experience. It provides extensive information about your cryptocurrencies and simplifies the trading of cryptocurrencies. Exodus provides you with the information you need and makes it easy to find what you are looking for.

The Exodus desktop application does not use hosted centralized servers. You retain full control over your cryptocurrencies and store your private keys on your computer.

If that's not enough, the Exodus mobile app is available on both Android and iOS devices, and provides the same elegant interface you would expect from such a beautiful desktop application. While mobile applications support fewer resources, manufacturers always improve them and also support an initial phrase of 12 words.

9. UNSTOPPABLE

UNSTOPPABLE is a decentralized crypto wallet for smartphones. It is available on Android and iOS.

We think that three key features help him stand out:

  1. Ease of use: UNSTOPPABLE is perhaps the most user-friendly non-storage application on the market. It is intended for users without a blockchain.
  2. Multi-Blockchain Wallet: This is one of the only non-storage mobile wallets that supports the Bitcoin, Bitcoin Cash, Ethereum, Dash, EOS and Binance DEX blockchains.
  3. Fully Compliant: UNSTOPPABLE supports BIP44, BIP49 and BIP84 standards.

Good luck)

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