Top 10 Bitcoin Wallets in 2020

As the popularity of Bitcoins and other cryptocurrencies grows, the demand about high quality and safe crypto wallets increases, too. Here is the list of top 10 Bitcoin wallets so far in 2020.

But first, let’s go through some basics.

What is a Crypto (Bitcoin) Wallet?

A cryptowallet is the hardware device or software solution able to authorize blockchain transactions. The user can send, receive and control digital funds with the help of such a service or gadget.

The solution consists of two keys: the public and the private. The public key is the wallet address available for anyone to access. Likely to the bank card number, the sender needs to know the public key of a recipient to send funds exactly to him or her. The public key is also used to encrypt the data when a browser gains access to a server.

The private key is required to access the wallet itself. It is similar to a PIN code: the wallet’s owner should memorize the private key generated by the system (or write it down and store in some safe zone) to control funds. One shouldn’t share the private key with any person ever regardless of circumstances!

Here are the kinds of digital fund storages:

  • hardware;
  • software (local);
  • paper.

    Let’s find out more about the differences between them.

    Hardware Wallets

    These devices are electronic gadgets consistent of the CPU, the touchpad panel, and the display. The device generates both the public and the private key for its owner, and stores them as well. To process the transaction with this gadget, one needs to connect it to a computer with the USB cable or the Bluetooth channel.

    Pros:
  • It definitely is one of the safest ways to store cryptocurrencies.
  • The user has total control over private keys.

    Cons:
  • Hardware wallets aren’t free. The price starts from 50 dollars, and high-quality devices will cost you several times more.
  • The interface might sometimes be difficult for newbies.

    Software Wallets

    The software wallet is the program or the cloud service allowing the user controlling crypto funds and investments. These wallets suit people who use digital money on a daily basis or initiate crypto-transactions frequently the most. Software wallets can be divided into three types:

  • Desktop wallets;
  • Web wallets;
  • Mobile wallets.

    Pros:
  • Most frequently, software wallets are free.
  • They are ergonomic, user-friendly and easy to use.

    Cons:
  • Just like any other software, such wallets are vulnerable for viruses and malware apps.
  • The user risks losing control of private keys.

    Paper Wallets

    A paper wallet is a usual sheet of paper with private and public keys of its owner printed there. Despite the paper wallet has a high security level, it is not that popular. On one side, it is a reliable “cold” storage with no Internet access. On the other side, paper is too unstable to serve as the private data storage material.

    Top Software Bitcoin Wallets

    New solutions appear on the market of digital storages regularly. Web token storage and transfer app developers compete with each other to gain the client’s attention. Here below we mentioned 7 most reliable and stable solutions to recommend you.

    Blockchain.com Wallet

    The Bitcoin.com multi crypto wallet first appeared in public nine years ago, back in 2011. For now, more than 49 million people downloaded it.

    The wallet supports transactions in BTC, ETH, BCH and XLM. Additionally, the wallet has the built-in block overview function for Ethereum and Bitcoin currencies. Both iPhone and Android users can have access to it.

    Recently, the developers added the loan service secured by cryptocurrencies.

    Exodus Wallet

    The Exodus Wallet is relatively “young”: they launched it in 2016. A simple interface makes it cool for newbies. The software app is available for both mobile devices under the iOS and Android systems, and the desktop computers with Mac, Linux or Windows running there. The Exodus app stores private keys directly on the client’s hardware, whether it is a desktop, laptop or smartphone memory.

    Exodus works with over 100 cryptocurrencies.

    Coinbase.com Wallet

    Coinbase is among the biggest cryptocurrency trading platforms all over the planet. The app has the support of BTC, ETH, BCH, EOS, XTZ and the USDC native stablecoin. The wallet has a well-optimized and understandable UI and offers different finance instruments to use for every client.

    Additionally, the Coinbase app supports short addresses. This fact makes it even simpler to control crypto funds with it.

    Electrum Wallet

    Electrum is the desktop bitcoin wallet offering a wide range of functions and instruments. The solution functions only on PC’s, the mobile app is not planned so far. The interface suits advanced users while newcomers might find it challenging to understand the program.

    Electrum works exclusively with the Bitcoin. Despite quite limited use case varieties, Electrum is still a great wallet because of its functionality.

    Mycelium Wallet

    Mycelium is the mobile app available for Android and iPhone users. It has the interface a bit more complicated than that of other solutions. Nevertheless, experienced and advanced users will doubtfully have troubles with Mycelium.

    The wallet provides high security levels and has the built-in anonymity function.

    Opera Wallet

    Opera offers the browser wallet working for PC, Android and iOS systems. As for today, this solution can store and transfer Ethereum, and all the ERC-20 standard related tokens and stablecoins.

    Opera wallet users have access to decentralized apps directly from their browser. To start working with dApps, the user needs to buy Ether and store it in the wallet. After these two points are done, the client gets the access to the set of decentralized apps.

    Bitcoin Wallet

    Bitcoin Wallet is the first mobile app of its kind. This solution is safer than most mobile wallets because it has the direct connection to the Bitcoin network. The intuitive interface, the support for most popular and used currencies and all the necessary functions are here for every client.

    It is available for iOS and Android users equally well.

    Top Hardware Bitcoin Wallets

    The market of hardware cryptocurrency wallets is not that wide compared to software solutions, but we’ve got things to show you here as well. Below you’ll find three best hardware Bitcoin wallets to use.

    This market segment has been dominated by two manufacturers for quite a plenty of time. They are Trezor and Ledger brands.

    Trezor Model T

    Model T is the hardware wallet equipped with a colored touchscreen panel. It is light, and can fit the pocket with no problem. The Trezor gadget uses the USB-C interface to synchronize with a PC. For now, it supports over 1000 cryptocurrencies including the main ones, of course.

    The Model T solution is quite pricy: the cost begins with 170 dollars.

    Ledger Nano X

    One of the safest wallets on the market, Ledger Nano X works with more than 1200 ERC-20 tokens and all the main currencies. Its simpler version, Ledger Nano S, is also among the cheapest hardware wallets – 60 dollars plus the worldwide free shipping service.

    Trezor ONE

    Trezor ONE is the older model by Trezor. It supports all main currencies and multiple ERC-20 tokens.

    Available for 80 dollars.

    To Conclude

    When choosing the solution to store your crypto funds, you should take into account the goal you plan to use them for.

    In case you are a holder, the hardware storage is your choice.

    For traders, the browser wallet will probably suit the most.

    If you deal only with small sums of digital funds, the paper storage will play the best for you.

    No matter what, you shouldn’t forget: safety is the biggest priority when it comes to cryptocurrencies.

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