Finding a Bitcoin storage wallet is not difficult, but choosing the right one for your needs and work nature can be quite challenging. This article will suggest the best BTC wallets available in the market today, narrowing down your options to help you make an easier decision.
Selected Top Bitcoin Wallets by Category
Cold Wallets
Cold wallets are devices that allow you to store your assets without an internet connection. It is like your credit card, storing your assets on a physical item and not requiring an internet connection.
The advantage of this type of wallet is primarily its absolute security. No other wallet currently matches the security level of cold wallets because they are not connected to the internet, making them immune to hackers.
The disadvantages include less convenience in usage, higher cost, and for new investors, it can be more difficult to use due to unfamiliarity with its specific operation. And as you know, although hackers cannot do anything to your wallet, if you lose the wallet or forget the security code, your account can still be lost as usual.
Below are some of the best cold wallets for storing Bitcoin today.
Ledger Nano S
The Ledger Nano S, also known simply as Ledger Wallet, is compact, about the size of a USB stick. It is also easier to use compared to some other wallets.
Ledger Wallet supports storing multiple coins like BTC, ETH, LTC…
Ledger Wallet was created by Ledger, a company specializing in system security and infrastructure for Blockchain platforms. Its price currently ranges from approximately 2,500,000 to 3,000,000 VND.
Trezor
Alongside Ledger, Trezor is also a popular cold wallet. Although it is not as compact as Ledger Wallet, it is cheaper, ranging from about 1,700,000 to 2,500,000 VND.
Trezor was officially launched in August 2014 by SatoshiLabs.
Opendime
This is another innovative wallet that brings fun to users—the Opendime wallet. This device mimics a piggy bank, requiring you to peel off an outer shell to access the internal core for use. True to its name, which means “Open,” this method is a new usage approach.
While this may cause inconvenience during use, it is quite interesting.
Paper Wallet
A paper wallet, also known as a Bitcoin paper wallet, involves storing assets by printing the Private key, Bitcoin wallet address, and QR code on a piece of paper.
The advantages are its portability, ease of use, and absolute security.
The disadvantages include the fragility of the paper—tearing, wear and tear, and if you lose the paper, you can’t recover your assets.
Web Wallets
Web wallets are currently the most popular and favored types. They operate based on third-party services.
The advantages of web wallets include convenience for transactions, free use, easy to operate, and the possibility to recover the wallet if lost.
The security risk is higher because they require internet connection, which means hackers could potentially access your wallet someday. To mitigate this, do not store too much BTC in a single wallet unless necessary, and spread your holdings across multiple wallets.
Exchange Wallets
Talking about online web wallets, the first that comes to mind is exchange wallets—using a trading platform as a wallet, storing coins there. It is convenient because coins are readily available on the exchange for immediate use. Coins stored on exchanges are both for storage and utilization.
Exchange wallets are prime targets for hackers. Use caution: only use reputable, trustworthy large exchanges, store only a limited amount of coins in them, and diversify your holdings across different platforms to reduce risks and potential losses.
Coinbase
Coinbase is a web wallet with a simple interface, suitable for beginners. Sending or receiving coins can be done via email or directly through Coinbase. Coinbase receives significant investments from major investors, which attests to its credibility and trustworthiness.
Blockchain.info
Alongside Coinbase, Blockchain.info is another prominent name. Accessing blockchain.info’s website and following the instructions allows you to register your own wallet account.
Software Wallets
Software wallets are ones you install on your computer or mobile phone, allowing for more controlled management of your coins.
Advantages of software wallets include convenience, being free, easy to use, and the ability to recover your account if lost. Disadvantages include security concerns and vulnerability to hackers, as with hot wallets.
Exodus
Exodus is a software wallet developed through collaboration between Daniel Castagnoli and JP Richardson, launched on July 29, 2016. It can store a variety of coins like BTC, ETH, LTC, and most tokens on the ERC-20 platform. However, it lacks basic security procedures such as 2FA and identity verification, posing potential risks of asset loss.
Jaxx
Jaxx is also a popular software wallet. Its advantages include ability to convert BTC and ETH, deposit from paper wallets, but it also lacks 2FA security layer, which increases user risks.
Mobile Wallets
Regarding hot wallets, mobile wallets are arguably the most secure, combined with ease of use, making them very popular. However, each wallet type has its own advantages and disadvantages, which will be discussed below.
Trust Wallet
Trust Wallet is currently owned and operated by the Binance giant, so it’s understandable why it is so widely trusted. Using Trust Wallet means you can utilize many benefits from the Binance ecosystem. However, its dependency is also a disadvantage, making it difficult to operate independently.
Infinito Wallet
Infinito Wallet is considered a leading competitor to Trust Wallet. Besides storing and transmitting coins, Infinito also allows trading via Visa/Mastercard. Its biggest drawback is the lack of 2FA, raising security concerns.
Conclusion
This article has provided suggestions for the best BTC storage wallets available today. Hopefully, it has helped you choose the best wallet for your needs.
See more: ETH Wallet
