Hi guys, I created this topic to enhance the knowledge of those who still beginning in Crypto World.I recently found some articles about this on the internet and I also noticed that no one has ever posted a topic like this so I just came up to this idea to share this information about Bitcoin wallet. I know there are a lot of people who already knows what is Bitcoin wallet and what is its purpose. But there are also some people here who didn't know about these things for sure. I make some research but you can still find information like this in internet on your own if you want, but I will explain it to you here so that you won't need to go to intermet to search certain informations like these.
Contents:
*Basic information about Bitcoin wallet address
*Types of wallets
*Example of bitcoin wallets and its advantage and Disadvantage.
*Download links, links and official website of bitcoin wallets are provided below to avoid phishing sites. They are 100% real.
Lets start with what is Bitcoin wallet.
According to Investopedia Bitcoin wallet is a Software/Hardare where we can be able to store Bitcoins. This is mostly similar to wallet we used for storing money.
Bitcoin wallet consists of
1. Passwords/Private keys- which is needed to access your wallet account. Private keys and Passwords are very important. These keeps our wallets secured. We must always keep it in a safe place and never forget it or else. We will just end up unable to access our wallets.
2. Wallet address - it represents a possible destination for Bitcoin payments and transactions. Bitcoin wallet address is not like Passwords that we need to keep by ourselves. Instead it is the opposite of Passwords where we can share to anyone or to public. If somebody will send you bitcoins just give them your Bitcoin wallet address. Same as if you want to send some bitcoin. Just ask for their Bitcoin wallet address. You can find Wallet address in your wallets. It consists 26 to 35 alphanumeric characters that start with either "1" or "3".
There are types of Bitcoin wallets,
1. Paper wallet
2. Software wallet
3. Hardware wallet
Hardware wallet - A hardware wallet is a physical electronic device used for storing bitcoins. Some people says Hardware wallets are the best choice because it is secured, reliable and convenient. Hardware wallet is better than Software wallet because it is much easier to store bitcoin and it is more secured, east to backup and less margin for errors but the problem is, Hardware wallets are not free. They are too expensive. Here are some examples of Hardware wallet.
1. Ledger Nano SAdvantages:
*Allows storage of the world’s leading digital currencies.
*Integrates with a multitude of software wallets.
*An OLED display that allows you to double-check each transaction.
*One of the most affordable OLED-based hardware wallets.
*Supports more Cryptocurrencies than Trezor.
Disadvantages:*Not as reputable as some of the leading hardware wallets, such as TREZOR.
*Not for free.
Buy Ledger Nano S here(official website):
https://www.ledgerwallet.com/products/ledger-nano-s?gclid=EAIaIQobChMIu8PcrIXi2QIVGKrsCh2yBgX0EAAYAiAAEgLXZPD_BwE
2. TREZORAdvantages:*Security. Limits the ways your Trezor can be accessed and protects it from hacking.
*Multiple currencies. Supports several currencies other than bitcoin and can convert transaction amounts to and from fiat currency.
*Easy-to-use interface. The myTrezor browser plug-in makes it easy complete transactions.
Disadvantages:*Complicated PIN. It takes time to set up the plug-in, and you must re-enter your PIN using an obscured keypad every time you plug in the Trezor.
*Limited transaction opportunities. Because it’s a hardware wallet, the Trezor must be plugged into a computer to make transactions, unlike mobile or paper wallets that can be used on the go.
*Not for free
Buy Trezor here:
https://shop.trezor.ioOfficial website:
https://trezor.io
3. KeepkeyAdvantages:*Top-notch security standards make it virtually impossible for hackers or viruses to steal your private key.
*Offers the same security features as more established products, such as TREZOR.
*Attractive, professionally designed OLED display makes using the device easier than other similar products.
*Provides access to the world’s leading cryptocurrencies.
Disadvantages:*A lack of web wallet means users must add software such as Electrum or MultiBit to make use of its applications.
*Larger size makes it slightly less portable than TREZOR or Ledger, which can fit comfortably in your pocket.
*Setup is fairly straightforward, but doesn’t allow users to save their progress.
*Not for free
Buy keepkey here(Official website):
https://www.keepkey.com
These are the example of hardware wallets. Although they have their own advantages, they also have disadvantages and these are very expensive.
Now lets move on to Software wallets.
Software wallets - Software wallets are like what I've discussed earlier. It is an application which we can install in our Computers or mobile devices like Android and Ios but not just that because there are also Software wallet that is web based wallets. Most of all software wallets requires internet connection in order to access and ofcourse our password too.
Here are some examples of software wallets.
1. Coinomi Coinomi is a great mobile wallet which allows you to store various cryptocurrencies along with Bitcoins. It has a very intuitive user interface and follows robust security protocols to keep your Bitcoins safe. I Didn't used this yet.
Advantages:*More secure than web wallets
*Support various cryptocurrencies
*Convert one crypto to another
*Easy for beginners
*Free to use
Disadvantages:*Available only on Android
*Some part of Coinomi app code is kept private while some is available on GitHub.
Download Link
Android:
https://play.google.com/store/apps/details?id=com.coinomi.walletIos:
https://ios-beta.coinomi.com/?token=HDEN57f3b8HTUTFANRawrJt4dyHot2UpOfficial website:
https://coinomi.com
2. Mycelium Actually Mycelium is the first Bitcoin wallet I ever used. I've tested this one and it is really secured. Mycelium can also be connected to hardware wallets like ledger nano S, trezor and keepkey.
MyCelium is an open-source project and is regularly being technologically upgraded by an active community of developers.
Advantages: *Better than Web Wallets
*Interactive UI
*Free
Disadvantages:*Beginners might find it difficult
*Available only on Mobile
Download Link
Android:
https://play.google.com/store/apps/details?id=com.mycelium.walletOfficial website:
https://wallet.mycelium.com
3.ExodusIf you want to store your Bitcoin safely on your Desktop then Exodus is the best choice for you. It was launched in 2016 and has gained a huge popularity since then. Apart from storing Bitcoins, Exodus allows you to exchange cryptocurrencies using the inbuilt Shapeshift.io. But remember, this wallet if for computers only.
Advantages:*Informative UI
*Easy to Exchange cryptocurrencies
*Free
Disadvantages:*Only for Computers/Laptops
Download Link(official website):
https://www.exodus.io/releases
4. Jaxx WalletAccording to some of Jaxx wallet reviews. This wallet is still buggy and have lot of issues.
Jaxx is a Multi-Currency digital wallet which store Bitcoins as well as Altcoins.
Unlike Exodus and MyCelium, Jaxx is available for Mobile as well as Desktop. The UI of Jaxx is very simple and easy to understand for a newbie.
Advantages: *Supports Multiple currencies
*Available on Mobile and Desktop
*Free
Disadvantages:*It has 3-star rating on Playstore(Which is far less compared to other wallets)
*Relatively a new company
*Not open Source
Download Link
Android:
https://play.google.com/store/apps/details?id=com.kryptokit.jaxxFor more download options visit Jaxx Official website:
https://jaxx.io
5. Blockchain.infoThis is the most popular bitcoin wallet today. With just your browser you can be able to send and receive bitcoin instantly. No any applications is required to install. This is a web based wallet that we can access using browser from computer or even mobile devices. Pretty cool right?
Advantages:*An established and trusted company in the Bitcoin community, good interface, available for mobile and web.
Disadvantages:*3rd party trust required, hard to make completely anonymous payments.
*not too recommended for Storing coins in long term if you don't have full control of your private keys.
*Still full of bugs.
Link:
https://blockchain.info
6. Bitcoin CoreThis is a suggested bitcoin wallet here in our forum. You can found it in the upper left part of the forum.
Bitcoin Core offers a lot of security and privacy features, and supports complete transparency. Bitcoin Core is well-regarded for being a stable system, though it can use up a lot of memory and space on your computer. Still, for modern computers the hardware requirements are rather low.
Advantages:*Features plenty of security and privacy features and offers a highly stable system.
*Open Source
Disadvantages:*No mobile app and no web interface makes it difficult to use this wallet without having your own personal computer on hand. It also requires a lot of free space to store the whole Blockchain.
Download Link(Official website):
https://bitcoin.org/en/download
7. ElectrumAs we can notice, electrum is also a suggested bitcoin wallet here in our forum. Did you guys already saw it? Like bitcoin core it is sometimes shown in the upper left part of our forum.
This fast, lightweight desktop app is a good choice for someone using older and less powerful computers for their bitcoin storage. The most processor intensive parts of the wallet are handled by remote servers. Electrum is well regarded for its advanced security and privacy features, and users can even recover their wallet with a secret pass phrase, though some people would prefer a wallet that doesn’t rely on remote servers.
Advantages:*While many apps are processor intensive, Electrum is known for being fast and light weight.
*Open Source
*Free
Disadvantages:*Not friendly for newbies, and the reliance on external servers could present security threats.
Download Link:
https://play.google.com/store/apps/details?id=org.electrum.electrumOfficial website:
https://electrum.org
8. ArmoryAmory is a well-known and trusted brand when it comes to Bitcoin security, though the app is usually best for more advanced users. If you are looking for an app that emphasizes safety and security, Armory should make the short list as the app features a variety of encryption and cold-storage options. Armory is among the most respected brands when it comes to Bitcoin security.
Advantages:*This is Very flexible and adaptable to just about any situation. Offers industry leading security features.
*Open Source
Disadvantages:*It requires advanced user knowledge and is not known for being user friendly.
Download Link (Official website):
https://www.bitcoinarmory.com
9. XapoXapo is a web-based wallet system, so alls you need to access it is a web browser and Internet connection. Xapo is known for having reasonably advanced privacy and security features, especially for a web-based wallet. The company supports payments through a debit card system, making it easy to spend your Bitcoins. The app is also friendly for newbies, so if you’re new to Bitcoin, give Xapo a close look.
Advantages:*Xapo debit card system allows you to use Bitcoin ATMs and spend at merchants across the world.
*Free
Disadvantages:*Web-based wallets face extra security threats, and you won’t be able to manage your Bitcoins without a Internet connection.
Download Link
Android:
https://play.google.com/store/apps/details?id=com.xapoIos:
https://itunes.apple.com/app/id917692892Official website:
https://xapo.com
10. Green AddressA user favorite, Green Address allows you to access your Bitcoins through a variety of methods, including online, through a mobile app, or through a desktop client. Better yet, Green Address’s is well regarded as being user-friendly. This makes Green Address one of the most flexible wallets around. Supports multi-signature features and has strong security and privacy features.
Advantages:*It is Very flexible and very easy to use, making Green Address a top choice for newbies
*Free
Disadvantage:*Requires the use of a remote app loaded from another location, and shared control over your Bitcoins.
Donwload Link
Android:
https://play.google.com/store/apps/details?id=it.greenaddress.cordovaIos:
https://itunes.apple.com/app/id1206035886Official website:
https://greenaddress.it
11. Bitcoin walletOne of the oldest names in the business, Bitcoin Wallet is known for being fast and relatively easy-to-use. The company believes in “zero trust”, meaning they go out of their way to provide a decentralized system that provides people with a lot of control over their Bitcoin wealth. High-transparency, along with strong security features make this a very secure program, especially for a web-based wallet.
Advantages:*Well-reputed brand name and a safe, fast, and secure operating environment make this wallet a good choice, though newbies may need a bit of time to get a hang of the system.
Disadvantages: *Only available online and requires an Android or Blackberry phone.
Download Link:
https://play.google.com/store/apps/details?id=de.schildbach.wallet
12. BitGoBitGo is known for its high levels of security and is a multi-signature wallet. This means that every transaction will require two-factor identification, which can go a long way in protecting your wealth from malware, hackers, and server attacks.
Advantages:*A high level of security in a relatively easy and non-technical package.
Disadvantages:*Two-factor identification can create a hassle and the service does rely on central verification.
Link:
https://www.bitgo.com
13. AirbitzAirbitz is a decentrelized, secured and backed up Bitcoin wallet. The promising notion about it is that neither Airbitz or any other 3rd party can access your Bitcoins, so it’s fully independent. The nice thing about Airbitz is that it also supplies you a directory of Bitcoin accepting businesses around you.
Advantages:*Beginner friendly, bitcoin accepting business directory, decentrelized.
*Free
Disadvantages:*Unestablished brand, no web interface (mobile only).
Download Link
Android:
https://play.google.com/store/apps/details?id=com.airbitzIos:
https://itunes.apple.com/us/app/airbitz-bitcoin-wallet/id843536046?mt=8Official website:
https://airbitz.co
14. CopayOne of the best Bitcoin wallets out there, it was created by Bitpay. Copay is a multisig wallet which means that a single wallet can have multiple users. This can be ideal for a corporate account where for example, 2 out of 3 signatures are required in order to confirm a transaction. The wallet also has a desktop, mobile and web interface and is completely independent and open source.
Advantages:*Multisig wallet – allows for improved security, great design, supports multiple devices.
*Free
*Open Source
Disadvantages:*No support, can be a bit overwhelming for beginners.
Download Link
Android:
https://play.google.com/store/apps/details?id=com.bitpay.copayIos:
https://itunes.apple.com/us/app/copay/id951330296More Downloads options for Windows and Linux os (Official Website):
https://copay.io
15. BTC.comBTC.com is a Block Explorer owned by Bitmain. The site offers several tools such as network statistics, a mining pool and also an online wallet. The wallet, similar to Blockchain.info, is an HD hybrid wallet. Meaning, you access it via the web but the keys to the wallet are stored on your machine, so BTC.com has no access to them.
Advantages:*Wide variety of features, intuitive interface, open source.
Disadvantages:*Still a hot wallet, controlled by Bitmain which have a shaky reputation in the community.
Download Link
Android:
https://play.google.com/store/apps/details?id=com.blocktrail.mywalletIos:
https://itunes.apple.com/us/app/blocktrail-bitcoin-wallet/id1019614423Website wallet (Official Website):
https://wallet.btc.com
16. CoolWalletCoolWallet is another attempt at creating a portable Bitcoin hardware wallet. The device itself looks and feels like a credit card and has one small operation button on it. The device needs to be help closely to your mobile app when sending out coins adding another layer of security. Even though the concept is pretty cool, the execution is far from complete and the device still feels a bit clunky.
Advantages:*Very portable (fits in your wallet).
Disadvantages:*Device feels a bit clunky, relatively new company behind the product.
*Not for free
Buy here(Official Website):
https://coolwallet.io
17. Coins.PhThis is my present Bitcoin wallet. I'm from Philippines and this Bitcoin wallet is the most reliable, secured and trusted wallet by most of Filipino. Since it is easy to use this is the bitcoin wallet I used for now. You can convert Bitcoin to Peso in just instantly. Same as converting Peso to bitcoin. It has so many features and very convenient when it comes to cashing out your money. Coins.Ph is a bitcoin wallet made by Filipinos.
Advantages:*Coins.ph have developed a service called Door-to-Door Delivery, precisely for families who reside in the area so that their family member who functions in the town and can deliver them payments to their home through delivery networks like LBC. Coins.ph provides 10 bitcoin buying and selling methods.
*Free
Disadvantages:*Its acquiescence with KYC (Know Your Customer) guidelines forces users to confirm their addresses and government supplied IDs. To exploit the daily spending limit, users must take a selfie holding the government issued card in hand.
*Common cahsout places are in Philippines only.
Download Link
Android:
https://play.google.com/store/apps/details?id=asia.coins.mobileIos:
https://itunes.apple.com/us/app/coins-wallet/id972324049?mt=8More download options for Windows and Linux Os (Official website):
https://coins.ph
These are some fo Software wallets that I found in internet. But there are still more a lot of wallets out there. Some are just unrated and not popular. What I mentioned above are trusted and known wallet.
Remember, there are some fake wallets that sometimes used to steal your bitcoins. I recommend to read their reviews first and make some research about your desired wallet for your safety.
Oh I forgot something, I'm not finish yet. I've only discussed Hardware and Software wallet which means Paper Wallets are not yet discussed. Well lets proceed.
Paper wallets- paper wallets are documents containing all of the data that is needed to generate any number of bitcoin private keys. It is usually used for storing bitcoins offline as a physical document. I cant be able to give some examples of paper wallet because paper wallets are just documents made by people. But it is still a way of storing bitcoin.
Well, thats all. I have copied some of the information here from the articles I found. I make some research and gathered information from different sites and combined them as one information and this is the result. I made this for you guys so that you can be able to know further informations without going to different kinds of sites just to find answers. I hope it helps.
This is just Wallets that supports bitcoins. Some wallet might be not included because they didn't supports bitcoin like Ethereum wallets.
Sources:
https://en.bitcoin.it/wiki/Addresshttps://coinscage.com/best-bitcoin-wallet/https://www.investopedia.com/terms/b/bitcoin-wallet.asphttps://www.buybitcoinworldwide.com/wallets/https://99bitcoins.com/best-bitcoin-wallet-comparison-review/?gclid=EAIaIQobChMIzc3NgZff2QIVHbbACh12eAIWEAAYAyAAEgIeWvD_BwEhttps://www.finder.com/ledger-nano-s-wallet-reviewhttps://www.finder.com/ph/trezor-bitcoin-wallet-reviewhttps://www.finder.com/ph/keepkey-wallet-reviewhttps://en.bitcoin.it/wiki/Paper_wallethttp://ecurrencyreview.com/2017/02/09/coins-ph-bitcoin-wallet-review/
Latest news: 
Shop
Show Posts