Bitcoin wallet: which one to choose for safe assets storage?
Bitcoin is the first and most popular cryptocurrency in the world. Its market capitalization exceeds $1.97 trillion – which is almost 6 times higher than the next most popular currency (Ethereum).
Bitcoin is available in most cryptocurrency wallets, which is not surprising considering the demand for this coin. However, the perfect wallet is like the perfect pair of shoes—you won’t know if it’s right for you until you try it. We’ve put together a review of the best Bitcoin wallets and will share key criteria to help you make an informed choice.
Bitcoin: brief information
Bitcoin is the first ever cryptocurrency, and it was launched in 2009. Its exchange rate was symbolic at the start: 13 BTC could be exchanged for one cent. Today, the value of one coin is about $100,000, and the total number of bitcoins in circulation has reached 19.7 million.
Bitcoin is based on blockchain technology – a decentralized network that stores information about all transactions. Instead of a centralized server, data is distributed between the devices of network participants, which provides a high level of transparency and makes any transactions irreversible.
Bitcoin has long outgrown its role as just a tool for anonymous transactions. Today, it not only serves as a means of investment and a way to earn on the volatility of the exchange rate but is increasingly becoming a full-fledged currency for payments. Cryptocurrency is used to pay in online shops, on online platforms and even in some restaurants and cafes, where digital assets have already firmly taken their place alongside traditional money.
Choosing a bitcoin wallet: what to look for?
When choosing a cryptocurrency wallet for Bitcoin, it is important to consider several key factors to ensure the convenience and security of using your assets:
The level of security is of paramount importance. Access to funds should be protected by two-factor authentication, biometrics, or other mechanisms. For cold wallets, it will be particularly valuable to have protection against physical break-ins, which minimizes the risks of unauthorized access.
Compatibility is another important aspect. Make sure the wallet supports the blockchain networks you need and integrates easily with exchanges, exchange platforms,,s and other services if you plan to actively interact with them.
Ease of use is also not something to overlook. The interface should be intuitive, especially for hot wallets used for frequent transactions. Hardware wallets shouldn’t turn every transaction into a complicated process—simplicity is always a plus.
The quality of technical support can be assessed in advance. Try to ask a question to specialists to understand how quickly and meaningfully they respond, and whether it is easy to get in touch with a human rather than a soulless bot.
Additional features depend on your personal needs. The possibility of currency exchange, integration with other services, and synchronization between devices – all make using the wallet more flexible and convenient. The key is to find the balance that will work for you.
How to create a Bitcoin wallet?
Setting up a bitcoin wallet is fairly simple. Although the nuances of the process may vary from service to service, in most cases, you will need to follow a few basic steps.
First, choose the right type of wallet. Decide whether you want one that is hot or cold, custodial or non-custodial. This choice will determine the level of control over your funds, the degree of security and ease of use.
Next, you’ll need to create an account on the site or install an app to manage your wallet. Even with cold solutions, asset management software is usually required. The exception is web wallets, which work directly in the browser without the need to download.
After installation, you need to set a strong password. Most services offer recommendations on its creation, including the use of letters of different cases, numbers and special symbols.
In some cases, you will need to undergo a verification procedure, especially if it is specified in the service’s security policy. This may include proof of identity to comply with legal requirements.
For additional protection, it is recommended to activate security features such as two-factor authentication or biometric methods.
Finally, it is important to save the passphrase – a unique key to regain access to the wallet. It is better to write it down on paper and keep it in a safe place away from the device itself, especially if you are using a hardware wallet. This simple rule will help to secure your funds in case your device is lost or broken.
Best Bitcoin wallets
1. Bitcoin Core
Bitcoin Core will not suit every user, however, it is an official wallet developed by the team behind the Bitcoin source code. It is considered a reference solution for storing and managing BTC as it communicates directly with the network, loading the full blockchain to verify all transactions. This ensures a high level of security and maximizes control over funds.
The advantages of Bitcoin Core include complete autonomy: users manage their private keys themselves and are not dependent on third-party services. The wallet is suitable for advanced users who value maximum privacy and trust in the source code.
However, the Bitcoin Core has some disadvantages as well. It requires a significant amount of memory and resources, as you need to load the entire blockchain, which can take hundreds of gigabytes. Also, the interface is not as intuitive for beginners, and the functionality is limited to working with Bitcoin, with no support for other cryptocurrencies.
2. BTC Wall
Non-custodial online wallet BTC Wall gives users full control over their funds without the need for third parties. Private keys are stored only with the user. This is not obvious to everyone, but it is an important factor in ensuring the security of asset storage. While centralized multi-currency wallets actually manage your funds and can potentially lose them if hacked, BTC Wall does not manage or store anything. It only provides interaction with the blockchain. However, the responsibility for the safety of private keys lies only with the user. In case of their loss, access to the wallet will be impossible to restore.
Like Bitcoin Core, this wallet supports only BTC but offers work with three major Bitcoin networks to choose from: Legacy, SegWit, and Band ech32.
The wallet is privacy-focused: no registration, email, or phone number entry is required to use it.
BTC Wall works through a web interface, which allows you to manage bitcoins without installing additional software. This solution is suitable for those who appreciate the ease of use, high level of privacy, and full control over their assets.
3. Bybit
Web3 Wallet by Bybit is a platform for managing digital assets: DeFi tokens, trading, staking, and DApps. In addition to Bitcoin, it supports 10,000+ tokens and 20+ networks.
Users can choose a cloud-based custodial wallet (linked to a Bybit account), a non-custodial one with a mnemonic phrase, or a keyless option powered by MPC technology. Available as a mobile app and Chrome extension.
4. Binance
Binance Wallet is a tool for storing and managing cryptocurrencies. It supports Web3, DApps and allows you to easily transfer funds between the wallet and your exchange account, as well as exchange tokens via Binance Bridge and DEX.
MPC technology is used for security, generating three key fragments stored separately.
The wallet is easy to create – just install the app and register an account. Activation requires a KYC procedure.
5. TON Wallet
TON Wallet is a cryptocurrency wallet built for Telegram in 2024. It only requires a messenger account for activation.
This hot custodial wallet allows you to make transfers both to external wallets and within Telegram without commission. P2P trading, currency exchange, and accepting payments via bot are also available.
It supports Bitcoin, Toncoin, Notcoin, and USDT. The platform is developing and plans to expand its functionality.
6. Trustee
Trustee Wallet is a multi-currency wallet with a built-in exchange and support for bank cards. Its features include buying and selling cryptocurrency for fiat, swapping between different assets, and even topping up mobile phones using crypto.
Additionally, with Trustee Card, users can pay for purchases at retail terminals using cryptocurrency, which is automatically converted to euros. This feature brings Bitcoin and other cryptocurrencies closer to fiat in terms of everyday usability.
The service requires KYC verification, but the process is quick, usually taking no more than 30 minutes.
7. Gemini
Gemini is a software-based cryptocurrency wallet and digital asset trading platform developed by the American company Gemini Trust Company LLC, founded by the Winklevoss brothers. The service is available as a mobile app and web platform. The wallet features: storing, trading, and staking cryptocurrencies, as well as the ability to manage digital assets through a user-friendly interface.
Its key feature is a high level of security. In addition to two-factor authentication, hardware keys are used and you can set up withdrawal restrictions: it is possible to specify trusted addresses to which transfers are allowed and block sending to other accounts.
The wallet interface can be customized to personal preferences by changing the elements on the main page. To get started, a mobile app will need to be installed. A bank cryptocurrency card is also available to users for convenient asset management.
8. Exodus
Exodus is a cryptocurrency wallet with support for over 50 blockchains and thousands of tokens. Among its functions are cryptocurrency exchange (swaps), staking, and working with NFT and Web3 support. The wallet allows you to purchase cryptocurrency with fiat money using a bank account.
Exodus is integrated with Trezor hardware wallets, facilitating secure offline storage of assets with the ability to quickly transfer funds to a multichain account within the app. The wallet is available for both mobile devices and desktops.
9. SafePal
SafePal is a hardware cold wallet designed to safely store Bitcoin and a variety of other digital assets. The devices feature a compact design with a small screen and intuitive interface. Various technologies are used to connect to mobile and desktop devices, including Bluetooth and QR codes. Assets are managed via a mobile app or browser extension.
In addition to basic storage features, SafePal offers additional features such as crosschain transactions, spot trading, staking, and NFT handling. There is also an option to buy cryptocurrency with fiat money.
10. Ledger
Ledger is a popular cold wallet for storing cryptocurrencies, available in several models. The devices range from compact flash drive-sized models to touchscreen versions. Connectivity to smartphones and computers is via USB-C, Bluetooth or NFC, depending on the model.
Ledger wallets support over 5,500+ cryptocurrencies and provide storage, buying, exchanging, and staking functions. Management is done through the Ledger Live app, which requires linking the device for activation. Ledger also integrates with various online wallets, which extends functionality and usability.
11. Trezor
Trezor is a hardware wallet that is available in several models with a color touchscreen or buttons for control. The devices support thousands of currencies, use PIN and password protection, and connect to a smartphone/computer via USB.
Note that the system has full compatibility with Android, macOS, Windows, and Linux. Through iOS, only viewing is available, but not account management.
The wallet supports several integrations with various cryptocurrency platforms. Users have access to transfers, trading, and staking. To activate the wallet, an official app will be required, and to set up the wallet, you can contact a company representative who will answer questions via video call.
Conclusion
The choice of a Bitcoin wallet is not an easy task, as the market offers hundreds of options, each with its features and advantages. To find the best solution, it is important to start from your own needs and functional requirements.
For active operations with cryptocurrency, hot wallets with constant access to the network and a wide range of tools are perfect. If the priority is maximum security, it is better to choose a cold wallet, completely isolated from the Internet. Many users prefer to combine both types to find a balance between the convenience of daily use and reliable protection of their assets.
