If you plan on using Bitcoin, you need to know how to create a Bitcoin wallet – it's free – and then attach it to your account to begin using it. A wallet is essentially where Bitcoin is transferred when you make a transaction.
What’s the best Bitcoin wallet in 2021?
Let's look at the top, best online Bitcoin wallets available.
1. Jidex
Jidex is a leading cryptocurrency exchange, and while they do not have their own wallet that you can use, they do recommend them when using the platform. A nice perk of these recommendations is that they come from a leading wallet provider that can connect to the exchange.
The top wallets that are recommended by the Jidex exchange are:
· BTC Guarda, which is a multiplatform, feature-rich platform
· Bitcoin Knots, which is a leading desktop wallet that works on Linux, Mac and Windows
· StrongCoin, which offers world-class, mobile function with easy account recovery
Multiple other wallets are recommended along with Coinbase, Mobi, BitPay, Atomic, Bitcoin.com and numerous others.
2. Electrum
Electrum is a software wallet that has been around since 2011. Due to the longevity of the wallet, a lot of people tend to prefer Electrum, as other wallets lack consistent updates. This wallet has a lot of nice perks that include:
· Your private keys are encrypted and will never move from your computer.
· If you’re somehow locked out of your wallet, a secret phrase can give you access to your funds again.
· Servers that index Bitcoin’s blockchain are used to make the wallet instantly on.
· Electrum's servers are redundant so that you never need to worry about downtime.
· Cold storage options are available.
· Split permission allows multiple wallets to access your coin.
· Export private keys to move to another wallet if you wish.
If you want a Bitcoin cash wallet that comes with high-end features and even supports add-ons, Electrum should be considered.
3. Mycelium
Mycelium is what is known as a reproducible wallet, which is considered to be more secure than a custodial wallet. The wallet uses a master seed to help restore the wallet, and a single address account is used.
The interface for Mycelium can be used to connect to a hardware wallet like Ledger Nano S, which we discuss more in-depth below.
A few of the key features of Mycelium:
· Bit ID is used for a more secure identification.
· Watch only accounts can be made.
· Third-party services can easily be integrated into the account.
· Mycelium has its own marketplace.
Mycelium is a leading choice among users because of its high level of security and the ability to restore a wallet if something happens.
4. Binance
Binance has its own exchange, but they also have a wallet that allows for funds to be stored for users of the platform. The official wallet of the platform is known as Trust Wallet and is used by 10+ million people.
The wallet offers a robust set of features:
· Buy and store crypto inside of the wallet.
· Collect NFTs.
· Earn various forms of crypto.
· Security is at the forefront of the app, with the wallet focusing heavily on security and privacy.
· The wallet is blockchain agnostic, allowing support for most digital currencies.
Trust Wallet is a mobile wallet that Binance purchased in 2018. The wallet is available on Android and iOS for free.
5. Ledger Nano S
Ledger Nano S is an actual hardware wallet that must be purchased, unlike the other wallets on this list. The benefit of a hardware wallet is that it’s unable to be hacked online, but you do have to keep good care of the device it resides on.
Coins are kept offline and protected thanks to the robust features offered by the Nano S, including:
· Manage and invest crypto rapidly with partners of Ledger.
· Install three apps on the device to keep all crypto in one place.
· Compatible with the Ledger Live platform.
Since every transaction must be confirmed on the Nano S, it makes your use of cryptocurrency highly secure. You can also connect this device to something like Mycelium for more control over your crypto.
Once you have a Bitcoin wallet address, you can start accepting payment directly into your wallet. The wallets above are all well-rated and offer some of the top features for crypto users.
Meta Description: Bitcoin needs a wallet to store all of your digital currency. The following are the top 5 Bitcoin wallets each with their own rich set of features and benefits.
