A good wallet should provide a reliable backup and recovery system to protect against data loss or theft of the wallet’s private keys. Access to transaction history and reporting features is essential for tracking your cryptocurrency holdings and activities. With many Bitcoin wallets to choose from, including a piece of paper with your public and private keys printed on it, you have a lot of options when finding the best Bitcoin wallet. Whether you want an easy-to-use online wallet or a super-secure hardware wallet, there’s a good option for your crypto storage needs. Our top choice for security is Trezor’s Model T, but the best overall is the Ledger Nano X. More advanced users may benefit from Electrum while those who are just starting may want to consider Exodus. SafePal is a crypto wallet provider that offers both software and hardware wallets.
Hardware Bitcoin Wallets (aka Cold Storage)
You can also stake a selection of your digital assets via Ledger Live or put them to work in DeFi. The accompanying Ledger Live app also allows you to swap cryptocurrencies, purchase them with debit or credit card or put them to work via DeFi and staking. Ledger Live features the Merlin dashboard which lets you interact with 1,000+ DeFi Best Bitcoin Wallets protocols across 10 chains and track yield, PnL and impermanent loss. “Best for” picks are those we’ve evaluated to be best for certain product features or categories. If we show a “Promoted” pick, it’s been chosen from among our commercial partners based on factors that include special features or offers and the commission we receive.
How to Choose the Best Crypto Exchange
To use multiple wallets, you’ll need to create different accounts to house your passkeys. Keeping separate wallets can reduce the risk of having your cryptocurrency keys from being compromised by hackers. Having different wallets also helps if you have multiple crypto coins, including Bitcoin and Dogecoin. We chose Mycelium for mobile users because it gives you more control over transaction fees and integrates with a hardware wallet. The Ledger Nano X is the second generation hardware wallet from Ledger, a French company launched in 2014.
What is Bitcoin cold storage?
If you want to invest in cryptocurrency, you should invest in a wallet. That noted, if you’re just dipping a toe, services such as PayPal and Robinhood allow you to buy a coin or fractions of a coin and store it on their servers. These are custodial wallets, however, where you don’t hold the private key. We recommend noncustodial wallets for long-term cryptocurrency users and investors. For more advanced users, Mycelium supports QR codes, allows you to set custom transaction fees and offers compatibility with hardware wallets from Trezor, Ledger and KeepKey.
- The Ledger Nano S, Ledger’s initial cryptocurrency device, was one of the first hardware wallets on the market and dominated the sector for many years.
- Exodus is a multi-currency wallet that supports over a hundred cryptocurrencies.
- Mycelium has been around since the beginning of the crypto era, and the Mycelium wallet is one of the oldest and best-known bitcoin wallets.
- If the exchange files for bankruptcy or pauses withdrawals, you lose access to your funds.
- The best Bitcoin wallet for staying anonymous is a paper or hardware wallet, in other words, a cold wallet.
