Bitcoin desktop wallet comparison
There are many different bitcoin wallets available to the every day user. There are different wallets for different platforms and each have their strengths and weaknesses. The charts below highlight the most popular bitcoin wallets available on the market. We compare their features such as platforms supported, whether it is open source, where are the private keys stored, and the type of wallet that it is. Up first is the Electrum Bitcoin Wallet for your desktop. It comes in first because it is the most versatile desktop wallet available.
It has a developers console which enables full control over your coins. Breadwallet is our highest ranked iOS wallet available. The keys are stored on your phone and upon the first installation you are provided with a recovery seed which you can use to recover your bitcoin desktop wallet comparison in case the phone gets stolen or accidentally erased. Checkout this full breadwallet bitcoin wallet review. While only available to Android and iOS bitcoin desktop wallet comparison, Airbitz is both open source and has recently released an SDK which means anybody can port the wallet to a platform of their choice.
Multibit HD is another great light desktop wallet. It offers almost identical features that Electrum provides. However, Multibit does not support multisig wallets. On the other hand, Multibit also offers seamless support with Trezor, a bitcoin hardware wallet. The GUI on electrum and multibit is a bit different. If you need more complex features like being able to rebroadcast a transaction, exporting private keys of certain addresses then Electrum is the way to go.
But for a personal user, Multibit is a great alternative. Just like Breadwallet the keys are stored on your phone meaning there are no bitcoin desktop wallet comparison to hack. It features a robust marketplace where you can find local bitcoin buyers and sellers and check out their prices. Furthermore, Mycelium awards extra security with the implementation of watch only addresses.
Checkout this full mycelium wallet review for a more in detail overview. Unfortunately the keys are stored online meaning that if the site goes down access to the coins is lost. On the bright side, blockchain allows you to export the private keys of any of your addresses meaning that you can have access to the coins even if the site goes down.
Checkout the full blockchain. In seventh place we have Jaxx wallet. It is a relatively new wallet launch last year, but it is one of the most popular multi currency wallets out there. As you might have figured by now, what sets Jaxx wallet apart is the fact that they support more than just Bitcoin. Ethereum, Dash, and Litecoin are just a few examples of supported cryptocurrencies. If you are an avid cryptocurrency trader needing to keep track of multiple cryptocurrencies, Jaxx wallet is the perfect solution for you.
Checkout the full Jaxx review here. In eigth place comes Green Address. However, Green Address gives you the option to backup your private keys so in case the servers go down you still have a way to recover your coins. Checkout this article bitcoin desktop wallet comparison a full review of the Green Address Bitcoin Wallet. Up first is the Trezor Hardware Bitcoin Wallet. Trezor is a bitcoin desktop wallet comparison hardware wallet launched in It allows multisig and bitcoin desktop wallet comparison seamless integration with the multibit desktop wallet.
Trezor is the safest way to store your bitcoins. Checkout the full Trezor Wallet Review here. Just like the Trezor and the KeepKey it stores bitcoin desktop wallet comparison private keys offline preventing any malware on your infected machine to compromise your wallet.
Furthermore, the Ledger Nano wallet includes a security card, which acts as a 2FA featue when authorizing transaction. This physical security measure is what brings this wallet to second place. Checkout the full Ledger Nano Review here. KeepKey is also an HD wallet just like Trezor and allows for secure offline storage of funds with cold storage.
Launched in September of it is only 3 months old and so far has received positive feedback in the bitcoin community. Checkout the full keepkey review here. Also make sure to checkout this ultimate comparison between all 3 hardware wallets. Follow us on twitter themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and bitcoin desktop wallet comparison latest cryptocurrency news.
Mark is a 24 year old cryptocurrency entrepreneur. He was introduced to Bitcoin in and has been involved with it ever since. He used to mine bitcoins and altcoins but now focuses on blogging and educating others about digital currencies.
About The Author Mark Mark is a bitcoin desktop wallet comparison year old cryptocurrency entrepreneur. Import password protected paper wallets No server to get hacked or go down HD Wallet.
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The key is storing it in a safe, yet accessible place, and knowing how you should store for different purposes.
Bitcoin desktop wallet comparison gives you a fair number of options when it comes to the different ways and places you can hold bitcoin desktop wallet comparison. In general, the places you hold your private keys are referred to as wallets. Some wallets can also be used to send Bitcoin like software oneswhile others can only be used to store and receive Bitcoin like paper ones.
Private keys are the alphanumeric passcodes which give you bitcoin desktop wallet comparison to your cryptocurrencies, like Bitcoin. No keys means no coins. Most private keys are 64 characters long, with the characters ranging from 0 to 9 and A to F. Remembering bitcoin desktop wallet comparison long passcode is nowhere near as easy as remembering your 4 digit bank pin bitcoin desktop wallet comparison your 16 digit credit card number, not to mention the extra 6 characters bitcoin desktop wallet comparison can be included A-F.
This is why Bitcoin users choose write down their keys either digitally or physically. There are four popular places to store cryptocurrencies: Online wallets are the most frequently used Bitcoin storage systems.
With an online wallet, like the immensely popular Coinbasea third party takes care of storing your private keys.
As long as they are trustworthy service, this means that you can send, store, and receive Bitcoin without ever having to touch a private key. Software wallets are another lightweight, easy solution to storing Bitcoin.
Software wallets also offer the functionality to automatically transact with your Bitcoin, doing the hard part of the work for you. Little technical knowledge required Complete ownership of your private keys Easy to send and receive. Hardware wallets are dedicated devices which store your Bitcoin on a portable, bitcoin desktop wallet comparison computer. Although this may sound excessive, it certainly makes hardware wallets a secure way to store your coins.
Our last way of storing Bitcoin is as safe as it is cost effective: Paper wallets are computer printouts with your private keys written down. As a result, the above services will just create a print out for a generic paper wallet, or generate an address and private key for your custom paper wallet.
With four surprisingly unique ways to do so, you might be wondering how best to store your Bitcoins. The easiest way to store Bitcoin Without a doubt, the easiest way to store Bitcoin is using an online wallet. The safest way to store Bitcoin would have to be with a hardware wallet. The security offered by a standalone, single-purpose device has no match.
The sacrifice of storing in a hardware wallet comes as a loss of usability and accessibility, along with a significant price tag. See if you can match your ideal wallet with any of those listed above, based on both the features and limitations. This is our favorite approach to picking the right wallet. If you can already see which storage method will work best for you, excellent! How do I store Bitcoin?
Private keys Private keys are the alphanumeric passcodes which give you access to your cryptocurrencies, like Bitcoin. Where can I store Bitcoin? Online bitcoin wallets Online wallets are the most frequently used Bitcoin storage systems. The benefits of using an online wallet are: Quick and easy setup No technical knowledge required Accessible from anywhere Buying, storing, and selling on one service The disadvantages are: Bitcoin software wallets Software wallets are another lightweight, easy solution to storing Bitcoin.
The benefits of using a software wallet are: Little technical knowledge required Complete bitcoin desktop wallet comparison of your private keys Easy to send and receive The disadvantages are: Significant setup time Needing access to the same computer Risk of being hacked Best online bitcoin software wallets Bitcoin Core Electrum Bitcoin Knots Bitcoin hardware wallets Hardware wallets are dedicated devices which store your Bitcoin on a portable, failproof computer.
The benefits of using a hardware wallet are: Extreme security Relatively portable Complete ownership of your private keys Built-in transaction functions The disadvantages are: The benefits of using a paper wallet are: Flawless digital security Relatively portable Complete ownership of your private keys The disadvantages are: The safest way to store Bitcoin The safest way to store Bitcoin would have bitcoin desktop wallet comparison be with a hardware wallet.
Small, quick transactions OR if buying for first time Everyday cryptocurrency usage Holding large amounts long-term Holding moderate amounts long-term See if you can match your ideal wallet with any of those listed above, based on both the features and limitations. Remember that you can use a combination of storage methods for your Bitcoin. For example, you could keep a small, liquid amount on an online wallet for quick transactions, while keeping your biggest holdings offline. Either of these methods have too high a risk of random failure.
Finally, you should know that software wallets exist for mobile devices too.