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Cryptocurrencies like bitcoin have been around for more than a decade, but in the past few years, they’ve moved beyond a niche investment to the mainstream. Companies such as Microsoft, Amazon, Starbucks, Whole Foods, Paypal, and countless others now accept bitcoin and other digital currencies as forms of payment.
The best bitcoin wallets offer secure storage for all types of crypto investors, accessible user interfaces, mobile access, and more. If you’re looking to invest in bitcoin or another cryptocurrency like ether or litecoin, you’ll need to pick an exchange (e.g., Coinbase or Kraken) that offers such assets, as well as a “crypto wallet” to store and secure your private key code for accessing your assets.
Best Bitcoin Wallets
Exodus crypto wallet – Product Name Only: Best overall bitcoin walletBitBox – Product Name Only: Best bitcoin wallet for beginnersElectrum crypto wallet – Product Name Only: Best bitcoin wallet for advanced usersOPOLO crypto wallet – Product Name Only: Best bitcoin wallet for Android usersMycelium crypto wallet – Product Name Only: Best bitcoin wallet for mobile usersCobo crypto wallet – Product Name Only: Best bitcoin wallet for digital storageWasabi crypto wallet – Product Name Only: Best bitcoin wallet for software storageCoinKite crypto wallet – Product Name Only: Best bitcoin wallet for bitcoin-only investors
Some of the best investment apps also offer cryptocurrency trading and market access to the crypto market.
Many of the best cryptocurrency exchanges offer an internal crypto wallet to store your digital assets, including bitcoin. But if the platform you’re using doesn’t provide secure storage, or you prefer to keep your crypto separate, you can open an external wallet.
Compare Bitcoin Wallets
Best Bitcoin Wallets Frequently Asked Questions (FAQs)
Which bitcoin wallet is best?
The best bitcoin wallet for you depends on your personal preferences, the kind of investor you are, what assets you want to invest in, and the kind of device you have. The best overall bitcoin wallet is Exodus.
Which bitcoin wallet converts to cash?
Some bitcoin wallets can convert cryptocurrencies to cash. The most popular bitcoin wallet that can convert to cash is Coinbase’s wallet. Coinbase easily allows investors to convert crypto to cash both through a browser or mobile.
What is a bitcoin wallet?
Bitcoin and crypto wallets are essentially online — and sometimes offline — storage platforms that provide encryption for your private key and give you custody over your cryptocurrency assets. When you first purchase crypto, you receive both a public key and a private key. Cold wallets are crypto platforms that offer offline storage, and hot wallets are platforms that provide online storage.
Are bitcoin wallets worth it?
Bitcoin wallets are worth it if the cryptocurrency exchange or investment platform doesn’t offer in-built storage. Crypto wallets were created to protect your private key and crypto assets against security breaches. While most wallets give you complete custody over your assets, not all cryptocurrency exchanges and investment platforms do (and custody doesn’t always guarantee complete security).
Do I need a crypto wallet to buy bitcoin?
You don’t necessarily have to set up your own bitcoin wallet to store your assets. Some crypto exchanges — like Coinbase and CEX.IO — offer their own wallets to users. The difference between these platforms, though, and the bitcoin wallets mentioned above, is mainly one of security and custody. If you’d prefer to have complete custody or control over your money, you’ll probably need a non-custodial bitcoin wallet.
Is there a free Bitcoin wallet?
Guarda is a free, non-custodial crypto wallet that supports 400,000+ digital assets (including bitcoin and ether) and 14 stakeable crypto assets.
How a Bitcoin Wallet Works
If you’re interested in securing your cryptocurrencies with a bitcoin wallet, you’ll first need to create an account with your desired platform. Most non-custodial wallets (wallets that you hold complete custody over) offer downloadable software that you can use to secure your private key and crypto assets.
However, if you’re using a hardware wallet, you’ll likely need a USB cable to connect to your platform’s external storage chip. Once you’ve created your account, connected the necessary devices or downloaded any required software, you’ll be able to transfer over any existing crypto assets.
Bitcoin Wallet Reviews
Best Bitcoin Wallet Overall
Exodus
Why it stands out: Exodus – Product Name Only offers cryptocurrency exchange services for desktop, mobile, and hardware crypto wallets. Exodus’ account features also include a multichain web3 wallet, live charts and portfolio data, 24/7 customer support, a built-in exchange, and more than 367 cryptocurrency assets and NFTs.
Exodus supports staking for onotalogy (ONT), oncology gas (ONG), cosmos (ATOM), tezos (XTZ), cardano (ADA), algorand (ALGO), vethor (VTHO), vechain (VET), and solana (SOL).
You can also buy commission-free cryptocurrencies like bitcoin, solana, and others with USD, EUR, and GBP. You can also manage your assets using Exodus and Trezor, another popular bitcoin wallet. You don’t need to use multiple wallets, but some users might prefer having multiple wallets as an additional security measure for their assets.
Exodus and Trezor’s partnership caters to those who prefer hardware security since you’d be able to securely manage your assets offline while simultaneously using the Exodus platform. Exodus typically receives 2-5% on each asset exchange, but the firm generally doesn’t charge you any fees to use its software.
What to look out for: Exodus crypto wallet mainly caters to hot wallet (software) users. It may not be suitable for the hardware-minded traders, unless you plan to use a Trezor device with the app.
Best Crypto Wallet for Beginners
BitBox
Why it stands out: With BitBox – Product Name Only’s BitBox02 hardware wallet, you can store your crypto private key and manage any assets offline through an external chip. It offers interactive touch features and an OLED screen for transaction details. The wallet supports bitcoin, ether, litecoin, and more than 1,500 other cryptocurrencies.
But BitBox – Product Name Only also provides a bitcoin-only edition. This version could be a great fit for you if you’re only looking to store bitcoin. It relies on bitcoin-only firmware and offers compatibility with the BitBoxApp, Electrum, Specter, Sparrow, and Wasabi.
The BitBoxApp also gives you desktop access.
What to look out for: If you’re a fan of mobile access, you’ll only be able to use BitBox on Android devices.
Best Crypto Wallet for Advanced Users
Electrum
Why it stands out: Launched just two years after bitcoin was created, Electrum crypto wallet specializes in private key encryption and two-factor authentication. Like Exodus, Electrum is a hot wallet that gives you online encryption for your crypto information.
Electrum crypto wallet verifies that all of your bitcoin transactions are in the bitcoin blockchain, and its Multisig feature allows you to spend bitcoin between multiple wallets. Electrum also supports other wallets, including Ledger, Trezor, and Keepkey.
In addition, Electrum says it offers several interfaces that you can use on mobile, desktop, or with its command line interface. However, with its cold storage offering, you can sign transactions from an offline computer, according to its website.
What to look out for: Electrum crypto wallet doesn’t offer traditional phone customer support. However, the company provides helpful information in its documentation and FAQ sections, it offers a Reddit support page, and it allows you to ask questions on bitcointalk.org. Another thing to note is that, while Electrum supports other wallets, it only allows for bitcoin transactions. This may be a downside for those interested in exploring other cryptocurrencies.
Best Crypto Wallet for Android Users
OPOLO
Why it stands out: Based in Luxembourg, OPOLO crypto wallet provides its own free and encrypted hardware wallets that utilize EAL 6+ rated secure chips (EAL certifications are security certifications used for hardware wallets). This means you’ll be able to store any crypto assets offline. OPOLO also says it offers genuine device checks, USB encryption, anti-theft protection, PCB encapsulation, randomized keyboard access, and virus-free usage.
You can set up bitcoin wallets, Ethereum wallets, or take advantage of more than 120 other coins. As for tokens, OPOLO crypto wallet currently offers more than 200,000. And thanks to the company’s security measures, its bitcoin hardware wallet allows you to backup and recover any assets.
OPOLO’s mobile app is only available on Android devices, but the wallet is also available on Mac, Windows, and Linux for users with desktops or laptops.
What to look out for: Keep in mind that the OPOLO crypto wallet mobile app is best for Android users. If you don’t have an Android phone, you can still download the OPOLO hard wallet on your desktop or laptop. With Android app, however, you’ll be able to exchange cryptocurrencies from your phone.
Best Crypto Wallet for Mobile Users
Mycelium crypto wallet
Why it stands out: Mycelium crypto wallet is another popular bitcoin wallet that offers a wide range of storage services. Among these are advanced cold storage, spending, and savings accounts for bitcoin investors, and inter-wallet operability. The Foundation for Interwallet Operability (FIO) created inter-wallet operability to make it easier for crypto holders to send or receive coins across different blockchains or wallets). It supports more than 20 tokens.
In addition, you can download Mycelium for free, and the company’s wallets allow for open-source, incognito use. Mycelium’s wallets are also reproducible, and the platform is compatible with Trezor, Ledger, and KeepKey hardware wallets.
Though Mycelium crypto wallet is mainly a bitcoin-focused wallet, it also supports ether and other ERC-20 tokens. Additional features include in-app exchange, trading, and educational resources.
What to look out for: Mycelium’s customer support is primarily available through email.
Best Crypto Wallet for Digital Storage
Cobo
Why it stands out: Though it formerly offered hardware wallets through Cobo Vault, Cobo crypto wallet transitioned to provide a digital Cloud wallet for its users. The app offers support for more than 70 blockchains and more than 1,800 tokens, and both iOS and Android users can take advantage of these perks.
Cobo also offers features like multi-factor authentication, hot-cold storage, and multi-signature storage for private keys. And institutions can utilize its Cobo Custody crypto services.
What to look out for: Cobo crypto wallet isn’t the best choice if you’re solely in search of hardware crypto storage.
Best Crypto Wallet for Software Storage
Wasabi
Why it stands out: Available on Mac, Windows, Ubuntu, and Linux desktop devices, Wasabi crypto wallet is a free hot wallet that offers open-source, non-custodial storage for bitcoin investors. Wasabi also offers trustless CoinJoin transactions that allow you to merge your coins with other users in one transaction to prevent third parties or hackers from tracing where each coin came from, according to its website.
This feature doesn’t compromise you coins’ security, though. Neither you nor the other users will be able to trace where each coin came from. Wasabi crypto wallet says this eliminates the risk of stolen funds because — unlike regular transactions where there’s one sender and one receiver — it’s more difficult for outside parties to trace.
What to look out for: Wasabi crypto wallet is available on multiple desktop devices, but you won’t be able to access it on iOS or Android mobile phones.
Best Crypto Wallet for Bitcoin-Only Investors
CoinKite
Why it stands out: CoinKite crypto wallet makes several crypto hardware wallets that offer external security for crypto investors, but its bitcoin-only coldcard wallet could be particularly suitable for bitcoin-focused traders. It signs your crypto transactions to keep your private key offline.
The wallet — which is available as a specialized chip and numeric keypad — is also compatible with the following crypto wallets: Bitcoin Core, Electrum, BTCPay, Specter-Desktop, Wasabi, Fully Noded, Unchained Capital, Casa, BlueWallet, Coldcore, Sparrow, and more.
CoinKite crypto wallet’s other offerings include Opendime, BlockClock Mini, Seedplate, Coldpower, Coinkite terminal, and Bitcoin server (you can find its complete list of products here).
What to look out for: Keep in mind that the cold card wallet is an external, offline crypto storage device. If you’re looking for online storage, you’ll need to consider other options.
Other Bitcoin and Crypto Wallets We Considered
Coinbase Wallet: Coinbase Wallet is a self-custody wallet through the popular cryptocurrency exchange Coinbase. It stores and manages thousands of crypto, NFTs, and multiple wallets. The wallet also allows you to access the decentralized web. Coinbase wallet earns yield, uses DeFi liquidity pool to supply/borrow crypto, and more. Crypto.com DeFi wallet: A non-custodial wallet that earns rebates on over 25 tokens, as well as provides you access to popular DApps. Crypto.com DeFi wallet also allows you to deposit view, share, and deposit NFTs across multiple blockchains. Another feature is that you can swap more then 1000 tokens over multiple blockchains, such as Ethereum, Cosmos, Cronos, etc. Ledger: Ledger is a popular hardware wallet that launched in 2014. The company offers two different types of Ledger wallets — Ledger Nano S Plus and Ledger Nano X — and a software, Ledger Live, that lets you set up any devices, trade and manage crypto, and access all of Ledger’s services in one place. But be prepared to pay a fee for each hardware chip.Metamask: Metamask is available both on mobile devices and as a browser extension. The company offers private key storage, a secure login, a token wallet, and a token exchange that allows you to buy, send, or swap tokens. However, Metamask mainly supports ether (ETH) and ERC tokens; you can add bitcoin to the wallet if you swap it with an ERC 20 token. Trezor: Trezor is considered a cold wallet since it primarily offers offline storage through an external USB-like device. As with Ledger, Trezor offers two storage options: Trezor One and Trezor Model T. Both options offer bitcoin-only firmware and well over 1,000 cryptocurrencies. However, some of Trezor’s advanced products can be pricey.Trust Wallet: Unlike the other wallets mentioned above, Trust is solely for mobile storage. If you’ve got a smartphone, you can download the wallet on iOS or Android devices. While Trust lets you store, purchase and exchange crypto, it also allows you to earn up to 11% APR through crypto staking. But the wallet may not be the best choice for desktop-minded users.Blockchain: Blockchain is a hot wallet that offers online encryption and gives you complete custody over your crypto assets. The wallet also provides a Blockchain data API, crypto data charts, interest-bearing accounts, and real-time crypto prices. You can hold or exchange bitcoin, ether, and others, but the company’s total number of tradeable assets is limited. Edge: Edge allows client-side encryption, meaning your data and information are completely encrypted on your end, and Edge doesn’t have access to any of it, according to its website. Along with the fact that it lets you buy, store, or trade bitcoin, ether, and other coins, Edge says it relies on a zero-knowledge security architecture. The company doesn’t ask for your email, phone number, or other personal info when creating an account. Similar to Trust, Edge is primarily for mobile users.
Why You Should Trust Us: How We Reviewed The Best Bitcoin Wallets
We reviewed more than a dozen bitcoin wallets to find the best options for low fees, safe (and secure) storage, cryptocurrency asset choices, and user interfaces.
Personal Finance Insider rating methodology for investing platforms is based on several factors, including customer support access, bitcoin features, wallet custody, educational resources, and wallet compatibility. Some crypto wallets are compatible with other storage platforms. For instance, Mycelium currently supports Trezor, Ledger, and KeepKey hardware wallets.
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