Experts Pick: The Top 7 Best Bitcoin Wallets of 2019
Choosing the best Bitcoin wallet is a daunting task even for experienced people in crypto. The technology is always evolving, new wallets keep entering the market and nobody wants to make the wrong decision for something that’ll be holding all your precious coins.
Luckily, CoinSchedule has done all the hard work for you. We’ve consulted with dozens of experts and hand-tested various wallets to figure out which are the best Bitcoin wallets of 2019.
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Best for Beginners: Rubix.io
Rubix Wallet is the easiest way for beginners to get into crypto. Simply sign up using their web interface and you’ll be provided with your own wallet that can hold Bitcoin, Litecoin, Ethereum and Bitcoin Cash. No download is required for Rubix, and the UI is ultra-intuitive, making it the most beginner friendly wallet.
The best thing about the Rubix Wallet is that unlike other web wallets, it is non-custodial, meaning the company doesn’t control your keys and you don’t have to worry about your funds being stolen.
Rubix also offers several other features that other wallets lack including:
- Atomic Swap support. This allows you to exchange your coins for another one without a third party.
- Incorporation Rubix Relay, an encrypted messaging platform, allowing users to communicate and conduct trades using crypto.
- Rubix Social, a social networking platform that respects user privacy and enables users to earn money.
- Rubix Pay, a payment processor that allows merchants to accept crypto.
So whether you’re a beginner or seasoned trader, Rubix offers something for everybody and is constantly being developed.
Best for Safe Storage: Ledger Nano S
When it comes to safe storage, the Ledger Nano is the safest. The fact that it is a hardware wallet makes it impossible for a remote hacker to access your funds because of the chip inside the Ledger Nano S that requires someone to physically type a password in order for it to sign transactions.
If you are dealing with larger amounts of Bitcoin, the Ledger Nano S is our recommended wallet.
Make sure you buy your Ledger Nano from the official store online. You will receive the Ledger Nano S in a box that looks like an iPhone box and also the USB cable required to connect it to a computer. All you need to do then is to plug it and follow the on-screen instructions to set your Ledger Nano S and start using it. Every time you want to send a transaction you will need to connect the Ledger Nano S to a computer, so keep that in mind.
If you ever lose your Ledger Nano S, or if it becomes damaged you can recover all of your coins using a set of backup words that you configure during the setup procedure.
One positive thing about the Ledger Nano S is that it supports multiple coins, including less popular ones such as Waves and Ark.
So if it’s safe storage you are after, there is no better solution than the Ledger Nano S.
Best Desktop Wallet for Windows, Mac and Linux: Electrum
Electrum is one of those products that people just trust because it’s been around for so long and it has endured the test of time. It is fully open source which is a big plus in this world of cryptocurrencies where a rogue code could steal all your funds. The software is actively being developed and they are always on top of the latest security updates.
The software is offered in versions for Windows, Mac and Linux so this adds comfort in the fact that if you ever decide to migrate to another computing platform, you can keep the same wallet.
The only caveat with Electrum is that the user interface is not as polished as some of the other products out there. However, this could also be seen as a plus because it makes the UI very clean and concise. There are not many buttons to click and therefore even new users might feel safer with Electrum because the odds of accidentally doing something wrong are slim.
Best Mobile Wallet for iPhones & Androids: Jaxx
The reason why many people choose Jaxx is that it’s a cross-platform mobile wallet that works both in Android as well as iPhone, and it supports several coins. This means that for many people, this is the only wallet you need for all your cryptocurrencies.
In fact, Jaxx could easily be mentioned in the multi-cryptocurrency topic below, which goes to show how versatile it is.
The setup is simple and the user interface is good enough for frequent usage.
Best Multi-Cryptocurrency Wallet: Exodus Wallet (Supports 100+ Cryptocurrencies)
When it comes to supporting several cryptocurrencies, the Exodus Wallet takes the lead because of its breadth of compatibility with different coins and tokens, while focusing on UI and simplicity.
Exodus is a nice looking Bitcoin Wallet with a solid engine behind the scenes. They offer both desktop and mobile versions of their Bitcoin wallet so you can access your funds even when you are on the go.
The only downside of Exodus is the fact that the code is not fully open source, so you have to trust the company. If for example, the company were to cease to operate, you would have to switch to another wallet since no one would be able to maintain the code.
That problem aside, Exodus is a popular wallet supporting at least 15 blockchains natively including Bitcoin, Litecoin, Bitcoin Cash, TRON, Ethereum, Ethereum Classic, EOS, OmiseGO, BNB (Binance Coin), 0x, Dash, QTUM, Ripple, Stellar, Tether and Zcash. But if you count all the different tokens that can be created on top of some of the blockchains, for example, Ethereum and TRON then we are looking at hundreds, potentially thousands of tokens that can be stored in an Exodus wallet.
Best for Trading: Coinbase.com
We did say above that a Bitcoin wallet hosted by an exchange is not a real Bitcoin wallet (since you don’t hold your private keys). However, when you are trading, it is necessary to have the coins in an exchange.
Some people advocate for withdrawing all your coins as soon as your trade is done, to minimize any risks of losing coins that are in exchanges, but the reality is that we have come a long way since the days of MTGox (famous hacked exchange) and some exchanges are run extremely professionally, almost like a bank.
This is indeed the case with Coinbase. If you have to leave your coins with an exchange, even if it’s for a few hours or days (while you are doing your trades), Coinbase is your safest bet. Based in the USA, they have been around since 2014 and are strictly regulated (like any financial company in the USA). They are backed by a number of prominent VCs including Tim Draper (famed Bitcoin maximalist) and the coins that they hold online, also called “hot wallet”, are fully insured.
Best Bitcoin Wallet According to Reddit: Ledger Nano S
We have done extensive research in Reddit, to see what their users recommend. Of course, different Reddit threads will recommend different wallets for the various types of use cases and users, but all in all, Reddit mostly agrees with what we have explained in this article. Our conclusion is that the Ledger Nano S is the most recommended wallet in Reddit because of all the above reasons.
Which Bitcoin Wallet Should I use?
Answer the quiz below to find out which is the best wallet for you.
To give you a complete overview of the Bitcoin wallets landscape, we also reached out to industry experts and asked them what their favourite Bitcoin wallet is, and why. Here is what they had to say:
Alex Buelau @alexmichaelis, founder and CEO of CoinSchedule:
I have always been an Electrum user and after you start using a certain wallet, it’s difficult to move to another one, I like the familiar interface albeit a bit clunky and I know exactly how it works so it makes me feel like my coins are safe. That being said, I am considering moving to Ledger, especially the new Ledger Nano X model which looks quite attractive.
George Borovec @GeorgeBorovec, CEO of Founder of Niffty, a simulated crypto exchange:
When it comes to my day to day needs I have been using BlueWallet on my iOS device […] and have since moved everything over from all other wallets I was using previously. I cannot say enough good things about their UX/UI and overall ease of use and all around versatility.When it comes to storing my Bitcoin and crypto offline, I still have yet to find anything better than Ledger on the hardware side.
Stefano Colovan @stefano3323, founder of Korporatio, a company developing solutions to add traditional companies management and incorporation into the blockchain:
I’ve been in the blockchain space since earlier the Ethereum genesis. Unfortunately I got the bad luck of getting hacked couple of times on wallets hosted by exchanges and therefore the only two wallets I can recommend to people are the Trezor and the Ledger. I also keep very small amounts on Coinbase and now crypto.com for daily expenses, but for security really, use a trezor or a ledger, nothing else.
Timothy Curry @ezcoinaccess, CMO of BlockchainBTM a Bitcoin ATM company:
The EDGE wallet (a mobile wallet – more info) because it is extremely user-friendly. It is a decentralized open-source project and non-custodial wallet.They will never have access to your funds or private key because you have to go through a strong multi-factor user authentication logic so you don’t lose your private key.
If you have followed this whole article, you should now be in a great position to select the best wallet for you.