It is now or should be common knowledge that holding your Bitcoins in wallets on online trading platforms is a big no-no, especially for beginners. In this day and age where fraudulent activities and hacks are aplenty, the safety and security of your digital coins must be of utmost importance. With that in mind, here are the 4 best wallets for the storage of your BTC that are known for their ease-of-use and security.
#4 Blockchain Wallet
Although it may not be the safest BTC wallet available, it is still worth mentioning due to its popularity. The fame and popularity of Blockchain Wallets have a downside; the platform has been a huge target for hackers who are out to get their hands on your bitcoins. Blockchain is cognizant of the mark on its back, so they have put in place an AES encryption as an extra security measure.
Blockchain wallet allows offline transactions with two-stage encryption in addition to two-factor verification. Blockchain Wallet also offers its users the option to back up their data into online storage platforms such as DropBox or Google Drive. In an attempt to prevent hacks, they have also implemented routine off-site server backups. Blockchain wallet also has a mobile app available just like the rest of the choices included on this list.
#3 Mycelium
Mycelium is an excellent wallet choice for users with both iOS and Android devices. If you are only getting into Bitcoin, Mycelium’s straightforward user-interface makes navigation easy as 1-2-3. Users can store their Bitcoin keys on their devices, which gives them 100% control of their coins. Moreover, upon registration, the wallet provides users with a recovery seed that you should jot down somewhere for safekeeping. So, if something should happen to your device that results in your losing your data, you can simply restore your wallet entering the secret seed key.
#2 Bread
Bread is the perfect BTC wallet users with iOS devices. Similar to Mycelium, Bread holds your Bitcoin on your device, allowing you absolute control of your funds. In addition, Bread enables users to use their fingerprint or simply a password to keep their wallet locked.
#1 Electrum
Electrum is easily the best choice for desktop users without question. What truly sets Electrum apart is its feature that lets users create more than one wallet with the same seed key. Moreover, Electrum also allows users to make transactions offline, so you don’t need to have an internet connection. Also, users can download what is called a “root public key” that works with other mobile apps that facilitate the monitoring of BTC wallets.
The wallet’s interface is incredibly user-friendly, designed with beginners in mind, but it also offers some advanced features for savvier users. Electrum is a total winner if you are in need of a wallet that is capable of more than just storing your coins.
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Posted on May 18, 2023