Best Bitcoin and cryptocurrency wallets
Dec 17, 2017 at 00:00
Best Bitcoin and cryptocurrency wallet comparison. There are three main types of Bitcoin and cryptocurrency wallets including online, hardware and paper.
Online wallet. Online wallets are the most comfortable to use, but at the same time are most vulnerable. There are hundreds available on the market and we are going to narrow it down and analyse the wallets with the best reputation, which are the hardest to break, and can operate as mobile, computer or browser apps. Their great advantage is that they are free, easy to use and allow you to pay in a coffee shop, bar or a store simply by using your mobile phone. On the downside, our computers and smart phones are not very secure and could be easily hacked. It is interesting that John McAfee (McAfee antivirus program creator and cryptocurrency enthusiast) said that keeping our money in our smart phone or crypto exchange, it is similar to not having it at all, because both could be hacked at any time. I wouldn’t be as categorical and could simply advise not to store large amounts in an online wallet. A small amount of threat never hurts and helps you realise that there is always a chance of losing everything. Overall, things are surely not that bad and there is a number of solid and secure online wallets available. If you want to use them, first of all, you need to make sure that your phone or computer is hack-proof. Choose only safe Wi-Fi networks, do not share your login details and keep your 12-word wallet recovery password safe.
Hardware wallet. Hardware wallets are arguably the safest and operate on various USB devices that are easy to manage and do not have contact with the Internet, thus eliminating any hacking possibility. Hardware wallet market is dominated by the two main and most reliable suppliers. A few remaining competitors are less popular and experience difficulty due to the cryptocurrency shortage. Never buy hardware wallets on eBay, ad portals or webpages resembling those of official suppliers, but actually having a different link or a slightly different name. Before purchasing a hardware wallet, you need to make sure that it is a true Ledger or Trezor product. Just imagine that if you buy a fake wallet, it might be modern, easy to use and closely resemble a Ledger or Trezor product, but someone could have a hold of your private key and other important data required to reach your money. You might find yourself using it successfully for a year or two, saving larger and larger amounts of cryptocurrency, pretty much becoming a millionaire and then suddenly losing it all in a second. Selling fake wallets might become another scam. So, please be cautious and choose only reliable suppliers and products from their original webpages. Choose verified suppliers, avoid trying to save 10 USD when buying from an unknown supplier and everything will be alright.
Paper wallet. Paper wallets might appear safe on one hand and not so much on the other. Bitcoin paper wallet has a simple design with just two codes placed on a piece of paper including a private and a public key. Private key provides access to your money while public key holds the monetary address (account number) where you receive fund transfers. All types of wallets consist of two keys, but are differently encrypted. Paper wallets are not hidden in any way, they are printed and visible on paper, so if you lose your print out or someone takes a picture or a copy of your private key, there is always a chance of your money being stolen. Often paper wallets are kept in a safe while using special programs to encrypt the public key access. On the plus side, paper wallets are completely free of charge and can be generated through a variety of online generators. Remember that when generating private keys, you should always disconnect from the Internet.
So, we had a brief introduction to the three types of Bitcoin and cryptocurrency wallets and now we will move to the detailed hardware and online wallet overview and comparison. Analysis provided on myblockinfo.com will present the most popular of the tested wallets. The wallets presented are the safest and used the most, have low fees and are managed by famous and most influential Blockchain people. Please bear in mind that cryptocurrency wallets are not regulated in any way. They can’t be considered a bank, there are no laws governing their operation and hence you should be very careful in choosing the most reliable wallet. Even trusted wallets can still experience errors leading to losses. Therefore, a paper wallet is probably the safest if you can think of a way of protecting your private key from the outside.
TOP 5 Bitcoin and cryptocurrency hardware wallet comparison
Hardware wallet is the safest and most convenient way to keep your Bitcoin and other cryptocurrency. The market offers a large number of suppliers and types of hardware wallets available to buy online. The most secure and highly reputable are Ledger Nano S, Ledger Blue, Trezor, Digital Bitbox and KeepKey. Let’s review each of them in order to choose the best one.
Recommendations. Two main Bitcoin and cryptocurrency wallet producers are Ledger wallet and Trezor. The two wallets are the most popular and appear very similar. They also have a great support system and proven reputation online. The process of manufacturing a safe and functional hardware wallet is very complex. Therefore, you should only opt for wallets produced by the TOP companies when choosing where to keep your virtual money. We can’t see any major differences between Ledger and Trezor wallets. Seemingly, Ledger seems to be a step ahead with its Ledger product. Both companies grow and develop, so have a look at the latest developments before you purchase. Make a responsible choice, compare the prices, look at the reviews and only then decide which wallet will serve you best in holding your capital. You should remember that hardware (USB storage) wallet is significantly safer than online wallet, so keep large amounts of money only in hardware or paper wallets, and transfer small amounts designated for payments into your online wallet (mobile, computer or browser).
TOP 5 Multi cryptocurrency online wallet comparison (Bitcoin, Ethereum + Altcoins)
Below we provide a comparison of wallets allowing you to store a range of cryptocurrencies. Out of all tested, this analysis will present the best online cryptocurrency wallets that support a range of currencies at the same time. These wallets are classed as Bitcoin, Ethereum + Altcoins (Altcoin - other cryptocurrencies except Bitcoin). Online wallet is easy to install and runs on a computer, mobile phone or browser as an extension (Chrome or Firefox). Not all apps will successfully run on phones, computers or gadgets. Some only run on phones, some just on computers. Similarly, not all apps run on iOS or Android, Windows or Mac. Program developers face their biggest challenge when they have to develop apps for Apple products. Apple takes a long time to produce and approve app updates with a lengthy process of any changes going through the security filters. Therefore, latest versions of online wallets do reach Apple users. Unfortunately, Android operated apps do not follow the same process. So, please have a look at our list of the most trusted online wallets and choose the best one that will keep your cryptocurrency safe.
Recommendations. There is only a handful of cryptocurrency online wallets that offer a possibility to keep both Bitcoin and altcoin in the same app. This convenient feature is very costly for program developers due to a large number of adjustments between different apps. These three Bitcoin and altcoin wallets have the best reviews: JAXX, Exodus and Coinomi. Other wallets are still in the testing phase, are not doing so well or are not as well protected as the above three. Also, JAXX, Exodus and Coinomi have a very good support system, they answer to inquiries and interact with clients on Twitter. We rate JAXX wallet as #1 for running apps supporting all gadgets. It is very easy to use and offers great support on social networks (follow their Twitter account). Exodus takes #2 as a very respectable online wallet. Its main downside is that it does not run on mobile phones and is only supported by computers (Windows, Mac and Linux). All other aspects of this wallet are rated well including communication, convenience, safety and frequent updates. Unlike JAXX, Exodus also works well if you receive mining payments. JAXX representatives admitted that mining money is not always transferred due to a low volume of transactions. Remember that online wallet is designed to hold small amounts of currency and pay daily bills. For larger amounts please choose hardware or paper wallets.
TOP 5 Best Bitcoin online wallets
Bitcoin is the most popular cryptocurrency, so the majority of wallets are created to hold solely Bitcoin. Bitcoin wallet is really easy to create, you simply download an app on your smart phone, computer or tablet, register and you are set to go. Bitcoin online wallets are not as safe as hardware or paper wallets, so you shouldn’t keep large amounts of money in it. We’ve done a great amount of work and tested a number of Bitcoin online wallets, formed a list and presented it all below for comparison. The best option would be to choose an online wallet that works on all devices, but there is only one such wallet available, which is a problem in itself. All other wallets run either solely on mobile or computer devices. Based on security and reputation parameters, all five Bitcoin wallets are similar, so compare, analyse and choose the best one.
Recommendation. Copay is the best Bitcoin online wallet. Copay has apps for both mobiles and computers and is a fairly safe wallet offering great support service. All other Bitcoin wallets including GreenAddress, BTC.com, Bitcoin core and Airbitz are safe and were developed by respectable teams, but cannot offer apps for both devices, i.e. will either operate on a mobile or computer device only. Bitcoin online wallets only support the Bitcoin currency, so if you keep or do transactions with Bitcoin only, then these wallets will work great for you, but if you are thinking of having and keeping Altcoins (Ethereum, Litecoin, Dash, etc.) then you will need to look for a different wallet. In any case, please remember that the safest way to store Bitcoin and other cryptocurrencies is either in a hardware or paper wallet.
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