A Crypto wallet is a type of wallet that lets you generate a unique address from which you receive crypto. The transaction is possible through blockchain and a peer-to-peer basis. The security of the wallet is maintained through a private key. This allows a user to recover the lost key.
Best Bitcoin wallets facilitate the users to watch the real-time crypto balance required for their portfolios. Today we will be discussing the best Bitcoin wallets available in the market in 2022 and the advantages of using them. But Before Invest You should Know – How to Identify Fake Cryptocurrency?
Bitcoin Wallets- What makes them the best crypto wallet?
Top crypto wallets usually use the BIP32 key derivation standard, allowing wallets to generate new wallet addresses. This is for the incoming transaction and keeping change in a separate wallet. This greatly helps to improve the privacy of transactions, making them one of the best Bitcoin wallets.
Top crypto wallets also use P2SH or Pay-to-Script-Hash addresses. This allows the user to create new addresses to receive Bitcoin and unlock balances by following the rules for using private keys.
Important tips regarding top crypto wallets in 2022
- The best crypto wallets are used for storing a large number of cryptocurrencies. These top crypto wallets are hardware wallets that allow offline signing of crypto transactions.
- Crypto wallets having the facilities of trading and exchange features are considered best for crypto-traders. The reason is it allows them to buy and sell crypto without third parties.
- Since multi-asset wallets allow storage of more than one type of digital asset, they are considered one of the best Bitcoin wallets.
Fact check about the top Bitcoin wallets
- It is estimated that about 80% of crypto holders keep their coins safe. The remaining is unsafe because many non-private, non-secure and vulnerable wallets are not considered the best crypto wallets.
- In 2020, $1.9 billion worth of crypto was lost to hackers alone.
If you interested to know more about Crypto Wallet, then I suggest you these Article – Next Cryptocurrency to Explode 2022
Frequently Asked Question
1. What does Bitcoin wallet mean?
Answer: A bitcoin wallet is a digital wallet that stores virtual cryptocurrencies and other assets. It facilitates peer-to-peer transactions between users of cryptocurrencies.
2. What does a Bitcoin wallet do?
Answer: It generates wallet addresses to or from which digital crypto-assets can be received or sent. It has a private key and a public key which helps to prevent hacking during transactions securely.
3. Does a Bitcoin wallet cost Money?
Answer: No fees or payment is required to create a Bitcoin or crypto wallet. It is mainly used for storing your digital cryptocurrencies and Bitcoin.
4. How can I cash out my Bitcoin wallet?
Answer: To cash out from the Bitcoin wallet, all you need to do is exchange the Bitcoin or crypto with the fiat currency of your choice.
5. Which is the best crypto wallet in 2022?
Answer: For beginners, Exodus is the best. Besides this, Mycelium, Electrum, Ledger Nano S, Trezor.
List of the Bitcoin wallets that are at the top in 2022
Down below is a list of some of the best and most trending Bitcoin wallets –
- Exodus
- Mycelium
- Trezor
- Electrum
- Wasabi Wallet
- Opolo
- Cobo
- Shift Crypto
- Ledger
- BitPay
- Atomic Wallet
- BitcoinWallet
- Bitcoin Core
- Blockstream Green
Reviews of the leading Bitcoin wallets
1. Exodus Wallet
Considered best for diversified multi-crypto holders.
The reason Exodus is one of the best online Bitcoin wallets is that it allows users to get live price charts for cryptos. This allows monitoring market movements to make decisions to sell or buy and add to your portfolio before it is too late.
Advantages:
- Over 100 cryptocurrencies are available.
- It works on desktop mobile and syncs with crypto hardware wallets.
- One can buy and sell all supported cryptocurrencies from the app without having to withdraw.
Disadvantages:
- It is hard to verify the code.
- Doesn’t have custom fees for Ethereum and other altcoins.
Wallet type: HD wallet.
Incorporated exchange available: Yes
Wallet hardware compatibility: Yes
Price to buy: Free
Site link: Best Crypto Wallet for Desktop & Mobile: Altcoin & Bitcoin | Exodus
2. Mycelium Wallet
It is best for diversified holders and crypto traders.
Mycelium provides the facility of direct and one-on-one control of crypto private keys. This is similar to Exodus because it will never leave your device. You can lock the wallet with a secure pin, operate multiple accounts, and reuse addresses.
Advantages:
- It is one of the best multi-cryptocurrency wallets because it facilitates in-app exchange and trading for ERC-20 and BTC cryptos.
- Provides in-app educational materials for learning crypto usage and security.
- Supports master seeds, private keys, and paper wallets.
Disadvantages:
- Not easy for beginners.
- Doesn’t support the desktop version.
Wallet type: Deterministic wallet.
Incorporated exchange available: Yes
Wallet hardware compatibility: Yes
Price to buy: Free
Site link: Mycelium Bitcoin Wallet
3. Trezor
Best and popular among exchanges, organizations, institutions, groups, and custodians.
Trezor is a type of hardware crypto wallet used to store more than 100 cryptocurrencies offline. It is very useful for custodian application by crypto companies, exchanges, etc.
It is one of the top crypto wallets because it allows people to manage their portfolios and send and receive secretly.
Advantages:
- Users can buy, sell, or trade crypto on exchanges.
- Lost keys can be recovered via personal 12 to 24 hours long recovery seed.
- Compatible with many app wallets.
- Has a password manager.
Disadvantages:
- The app is not free.
- Customer service is poor.
Wallet type: Hardware wallet.
Incorporated exchange available: Yes
Wallet hardware compatibility: Yes
Price to buy: Gold price – 59 Eur
Premium price – 180 Eur
Site link: Trezor Hardware Wallet (Official) | The original and most secure hardware wallet.
4. Electrum
Considered best for investors and traders who are experienced with crypto.
This is one of the best crypto wallets which creates a local backup of the key on your device. The private key doesn’t leave your device, making it more secure. The user gets a 12 to 24 keyboard recovery phrase security option for recovery.
Advantages:
- Supports integration or syncing with hardware wallets.
- Supports Segwit transaction, which is cheaper for trading bitcoins.
- Compatible on desktops, python, android devices, and osx.
- Signing off offline transactions is available.
Disadvantages:
- Buying and selling of crypto are not available.
Wallet type: Software wallet.
Incorporated exchange available: No
Wallet hardware compatibility: Ledger Nano S and Trezor.
Price to buy: Free.
Site link: Electrum Bitcoin Wallet
5. Wasabi Wallet
Transparent-conscious users best use it.
Wasabi uses an integrated CoinJoin transaction mixing type for hiding the identity of receiving and sending transactions. It is also integrated with the Tor network for further transaction anonymity, making it one of the best Bitcoin wallets.
Advantages:
- Can sync with Trezor, Ledger, and Coldcard devices.
- Compatible with desktops only–Windows 10, macOS, Ubuntu, Linux.
Disadvantages:
- Doesn’t have mobile support.
- Crypto exchange is not available.
- It is quite new.
- At least 0.1 Bitcoin is needed.
Wallet type: Software.
Incorporated exchange available: No.
Wallet hardware compatibility: Yes.
Price to buy: Free.
Site link: Wasabi Wallet – Bitcoin privacy wallet with built-in CoinJoin
6. Opolo
Best and preferred by the beginner users of hardware wallets and crypto holders.
Opolo hardware wallet uses EAL 6+ rated chip to secure users’ cryptos. It is run through the pre-order stages. It is one of the best Bitcoin wallets verified by Digital Security Paris and capable of helping to secure IoT devices.
Advantages:
- Has the option of recovery with seed phrase and backup option.
- Users can use fiat exchange to convert.
- Trade is possible for over 120 cryptocurrencies and over 200,000 tokens.
- Compatible for Mac, Windows, Linux, and Android.
Disadvantages:
- Very new to the market.
- Quite expensive.
Wallet type: Hardware wallet.
Incorporated exchange available: Yes.
Wallet hardware compatibility: Yes.
Price to buy 199 Eur for Wallet.
399 For Security pack.
Site link: OPOLO Hardware Wallet, Best Cryptocurrency Hardware Wallet
7. Cobo
Best and popular among developers, dApp users, holders, gamers, and stakers.
Cobo is a type of HD crypto wallet which is best for having cloud-based software. It allows the users to save the private keys to their crypto on their mobile phones. Wallets are secured with passwords and two-factor authentication.
Advantages:
- Compatible on Android and iOS devices.
- It allows the users to earn easily from their wallets by staking the stored crypto.
- Supports over 20 chains as well as 700+ tokens.
Disadvantages:
- Not integrated with the in-wallet trading exchange of crypto.
Wallet type: Mobile Software wallet.
Incorporated exchange available: No.
Wallet hardware compatibility: Yes.
Price to buy: Free
Site link: Cryptocurrency Wallet | Staking Wallet & Mobile App | Cobo Wallet
8. Shift Crypto
Best considered for groups, institutions, custodians, exchanges, etc.
Bitbox hardware wallet allows the users to store their crypto private keys offline. It is run using an app- Android and desktop BitBox apps. This helps the users to manage coins in their portfolio.
Advantages:
- It supports more than 1500 crypto and tokens which includes Ethereum and Bitcoin.
- Option available for Bitcoin-only hardware wallet for storing BTC only.
- Has USB-C compatibility with the mobile device.
Disadvantages:
- No option for integrated exchange.
Wallet type: Hardware.
Incorporated exchange available: No.
Wallet hardware compatibility: Yes.
Price to buy: BitBox 02 – $28
BitBox 01- Eur 59
Site link: BitBox hardware wallet by Shift Crypto 🇨🇭
9. Ledger Nano S
Best known among the groups, organizations, and companies.
Ledger Nano S is a hardware wallet that uses CC EAL5+ certified chips to secure crypto. Moreover, it is also certified by the ANSSI. It is one of the best multi-cryptocurrency wallets that come with the possibility of signing or verifying transactions offline.
Advantages:
- Trades over 1800 cryptocurrency and tokens from the computer and phone.
- Provides pin code security.
- Easily recovered with our 24-word recovery phrase.
Disadvantages:
- Expensive compared to software wallets.
Wallet type: Hardware wallet.
Incorporated exchange available: Yes.
Wallet hardware compatibility: Compatible with other software wallets, including native wallets for BTC.
Price to buy: Free.
Site link: Hardware Wallet – State-of-the-art security for crypto assets | Ledger
10. BitPay
Best used among retail stores, merchants, and outlets.
BitPay is quite popular among merchants who want to accept payments in crypto in addition to tracking their crypto value. It can expand globally and avoid chargebacks and ID theft which makes it one of the best crypto wallets.
Advantages:
- Has multi-signature addresses for secure crypto.
- The app is compatible with Android iOS Windows 10 Linux.
- Has easy backup.
Disadvantages:
- Not free.
Wallet type: Software and Physical Card.
Incorporated exchange available: Yes.
Wallet hardware compatibility: Nano Ledger or Trezor.
Site link: Access denied | www.bitpay.com used Cloudflare to restrict access
11. Atomic Wallet
Best considered among staking communities and holders.
Atomic wallet is mostly used for affiliate airdrops, cashback, bounty programs, and for staking in the wallet.
Advantages:
- Supports 300 coins and tokens like Bitcoin, Ethereum, Litecoin, XLM, etc.
- Compatible with Ubuntu, Windows, macOS, Debian, Android, and iOS.
- It has the best backup phrase for easy recovery, which makes it one of the best crypto wallets.
Disadvantages:
- Not integrated with offline storage hardware wallets.
Wallet type: Software wallet.
Incorporated exchange available: Yes.
Wallet hardware compatibility: No.
Price to buy: Free.
Site link: Atomic Cryptocurrency Wallet (atomicwallet.io)
12. BitcoinWallet
Considered best among crypto traders.
It is best for keeping Bitcoin and Bitcoin Cash. It can trade in-app and convert assets to integrated, stable coins.
Advantages:
- Supports fingerprint unlock.
- Manages to save and spend wallets separately.
- Quick restore and backup for the wallet.
Disadvantages:
- Hardware wallets are not supported.
Wallet type: Software wallet.
Incorporated exchange available: Yes.
Wallet hardware compatibility: No.
Site link: Crypto Wallet | Supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and ERC-20 tokens
13. Bitcoin Core
Best used and quite popular among bitcoin-only users.
This wallet allows for the storage of Bitcoin only. The interface gives the option for transactions and details of transactions, keeping address books, and export wallets.
Advantages:
- Compatible with Windows, ARM Linux, Linux, and macOS devices.
- Has easy backup and restoring of the wallet.
- Providing the facility for running a node helps support the Bitcoin network and mine BTC.
Disadvantages:
- Does not have an internal exchange, storage of another crypto, and synching the app takes days to complete.
Wallet type: Software wallet.
Incorporated exchange available: No.
Wallet hardware compatibility: No.
Site link: Bitcoin Core
14. Blockstream Green: Simple and secure Bitcoin wallet
Best considered among the multi-signature group users.
Using Blockstream Green, users can store Bitcoin secured with two-factor authentication and multi-signature technology. The private keys are also stored locally on the device which the user uses.
Advantages:
- Has the option to set spending limits and rate limits to transactions.
- Every transaction has a newly generated address.
Disadvantages:
- Doesn’t have integrated exchange and is not compatible with hardware wallets.
Wallet type: Software wallet.
Incorporated exchange available: No.
Wallet hardware compatibility: No.
Site link: Blockstream Green: Simple and secure Bitcoin wallet
How can I recover my stolen cryptos online?
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Want to know How the recovery system work? then read my another article about – Bitcoin & Cryptocurrency Scams – Get Your Money Back!
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Conclusion
Hardware wallets that allow signing transactions offline are considered the best Bitcoin wallets. But the catch is that these are expensive. Moreover, mobile Bitcoin wallets are some of the best crypto wallets that allow the user to send, receive, store, and manage digital currencies while using.
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