Choosing a Bitcoin wallet is important because it ensures your assets are safe after purchase. This article will help you better understand the concept of what is a Bitcoin wallet? Also suggest 8 most reputable and highly rated Bitcoin wallets today.
Bitcoin wallet overview
What is a Bitcoin wallet?
Bitcoin wallet is a type of cryptocurrency wallet that is encrypted in the form of a software application operating on mobile phones, computers or specialized devices capable of managing Bitcoin assets, helping wallet users to buy - send - receive Bitcoin by blockchain transactions.
Bitcoin wallet consists of 3 main components:
- Wallet address: This is a unique and public address, represented by a sequence of random characters. Only with a wallet address can others send you BTC.
- Private key: The private key of a Bitcoin wallet is a security code, simply understood as a password to help users access the wallet to fulfill their purposes. Therefore, do not reveal the private key of your Bitcoin wallet to anyone else.
- Personal key: This is the next private key of any crypto wallet. It consists of 12 randomly paired English words, and is used in case the user loses the private key because it can back up the data.
The 3 most popular Bitcoin wallets
Bitcoin storage wallets can be exchange wallets, hot wallets or cold wallets. These are the three most commonly used wallets today. What is it specifically?
- Bitcoin Hot Wallet: This type of wallet is connected directly and 24/7 to the internet. The advantage of Bitcoin hot wallet is ease of use.
- Bitcoin exchange wallet: Wallet Bitcoin exchange is a type of wallet integrated right on Bitcoin exchanges that allows buying and selling and trading cryptocurrencies.
- Bitcoin cold wallet: A wallet that is not connected to the internet to ensure the highest level of security for users' assets. However, every time you need to use the wallet you will have to connect them to the internet.
TOP 8 safe and best Bitcoin wallets today
We have understood what a Bitcoin wallet is and the common types of wallets used to store Bitcoins. Bitcoin wallets not only help you keep an eye on the market Bitcoin price, but also helps you buy, sell, send and receive this world's largest digital asset.
Trust Wallet is one of the most used hot wallets today.
They are officially available on the app store of most mobile devices.
You can use Trust Wallet to manage and monitor your Bitcoin and other cryptocurrencies with ease.
Exodus is also one of the most popular Bitcoin wallets.
Exodus is a hot wallet, which can be set up on a computer directly or allows users to download it to their phones.
Besides supporting major coins like BTC, ETH, you can also transfer and receive many other coins on Exodus wallet.
The advantage of Exodus is its user-friendly, scientific design deals.
Bitcoin is extremely valuable, so invest in a cold wallet to keep your assets safe. Trezor could be the perfect choice for storing Bitcoins.
It is also the first cold wallet to store BTC, supporting many other coins such as ETH, DOGE, etc.
Unlike the cold wallets mentioned above, Trezor allows users to update and save data even when not connected to the internet.
Electrum is a hot Bitcoin crypto wallet, compatible with most platforms like Linux, Windows, OSX and Android.
This Bitcoin wallet supports other cold wallets such as Trezor, Ledger, Keepkey... allowing users to transact offline, then share to other devices without using a key.
Ledger Nano Wallet WILL
Ledger Nano S is a cold Bitcoin wallet that is considered the best hardware wallet today for Bitcoin investors.
The design of Ledger Nano S is extremely simple, similar to a compact USB.
See more: Ledger Nano S how much and where to buy?
With Ledger Nano S, you can connect your wallet to your phone or computer using the Ledger Live app.
The number of coins supported by Ledger Nano S wallet is up to thousands, including top coins such as Bitcoin, Ethereum, Dogecoin, Ripple...
Cool Wallet WILL
Cool Wallet S is also another reputable Bitcoin cold wallet.
Cool Wallet S possesses a modern design, similar to the form of an ATM card, making it extremely convenient for users to carry it with them.
Cool Wallet S can connect to mobile via NFC or Bluetooth.
The wallet supports coins like Bitcoin, Ripple, Ethereum, Bitcoin Cash, LiteCoin and ERC-20 standard coins.
This is a line of Bitcoin hot wallets with extremely high security, supporting only four coins, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Stellar (XLM).
Besides the function of storing and tracking assets, users can buy Bitcoin with coin pairs BTC USDT on Bitcoin exchanges, then transfer a certain amount of BTC to the Rewards Account to receive interest up to 13.5%.
Mycelium is one of the crypto market's first BTC storage wallets.
However, it only works on mobile platforms, providing on iOS/Android phones without a computer version.
Users can use Mycelium wallet to buy and sell BTC directly.
Mycelium wallet supports transactions via QR code, allowing you to use the integration of the Mycelium wallet application with other popular cold wallets such as Ledger, Trezor and Keepkey.
Choosing a safe, reputable Bitcoin wallet is an important step in anyone's Bitcoin trading and investment process.
Hope you will have a choice that suits your needs and desires.
Wish you success!