Best digital wallet for bitcoin

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See at Mycelium Unlike your old-fashioned physical wallet that keeps your bills and coins, a crypto wallet doesn't actually hold your cryptocurrency like bitcoin and ether.

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Pros Secure storage of bitcoin and other digital currencies Ability with some to buy and sell coins to take advantage of market fluctuations Flexibility to keep your coins online and accessible, or offline and ultra-secure Cons Some exchanges associated with these wallets charge high fees Setting up some wallets can be complex Hardware wallets require an initial cost How Should I Choose a Bitcoin Wallet?

The best bitcoin wallet for your needs depends on your comfort with technology and your goals. Here are some of the best types of wallets for different situations: Beginners: Consider starting with an online wallet that charges very low fees for transactions.

SoFi, Robinhood, and Coinbase are best for this group. If you have a strong investment background, SoFi, Robinhood, and Exodus are good choices. Experienced users: Hardware wallets offer the best security. People who are very comfortable with computers should have no problem navigating the additional complexities.

Trezor and Ledger are suitable for this group. Serious enthusiasts: Consider a dedicated cryptocurrency wallet that gives you either added security or enhanced features. Coinbase, Trezor, Ledger, Edge, and Exodus are solid options. How We Chose the Best Bitcoin Wallets One of the most important things to consider before you transact in and store cryptocurrencies is that you have a suitable crypto wallet in place. A cold wallet is on a device that is disconnected from the Internet.

Because they are not connected to the Internet, they may be harder for other users to reach. But if you lose the actual device, recovery could be very difficult. They also generally can hold at least some types of NFTs, or non-fungible tokens , and many connect directly to exchanges where you can buy or sell crypto. The key differences between crypto wallets are: How many types of digital assets are supported?

How easy is it to move crypto offline, into a cold wallet? Are there resources for in-app staking or rewards programs? Atomic Wallet Atomic Wallet allows users to store more than cryptocurrencies, and it also provides options for people who want to buy, exchange, or stake digital assets directly from their wallets. One feature that distinguishes Atomic Wallet from its competitors is that you can buy a paid membership, which allows you to earn rewards when you carry out a transaction using its platform.

Unlike some other hot wallets, however, Atomic Wallet does not offer a browser extension, which can be a big help in using cryptocurrencies to interact with decentralized applications. Assets supported: More than Can convert to cold storage: No. The company operates the largest U. But Coinbase Wallet is a separate product that allows users to store cryptocurrency themselves rather than keeping it in the custody of Coinbase.

The free application has some other strengths, such as mobile and browser-based connections to decentralized applications. It also lacks some functionality offered by competitors, such as a desktop app, though its browser extension connects to the Ledger hardware wallet. Can convert to cold storage: Yes.

Users of Crypto. It also has a desktop app that integrates with Ledger hardware wallets. Another offering that might be of interest to some security-minded users is the availability of two-factor authentication. Can convert to cold storage: Yes, on desktop. Electrum Electrum is an outlier among wallets reviewed by NerdWallet, in that it only works with one cryptocurrency.

That cryptocurrency, however, is Bitcoin — far and away the most valuable cryptocurrency on the market. What Electrum lacks in altcoin offerings, however, it makes up for in security and transparency. This free, open-source product offers two-factor authentication, straightforward connections to cold storage, and support for multisignature transactions which require the signoff of multiple users.

Electrum offers only a desktop app, but the tools it offers to Bitcoin power users make it a standout. Assets supported: One Bitcoin. Exodus Exodus offers a solid set of software tools, including a mobile app, a desktop app and a browser extension. Its products allow users to buy, trade or stake cryptocurrency directly from their wallets, and it has an integration with the Trezor cold wallet intended to help people easily move crypto from hot to cold storage.

Exodus, which is free to use, also has a solid library of explanatory content for people who are learning about crypto. Exodus supports about cryptocurrencies, including many of the most popular assets. However, that number is smaller than some of its competitors who say customers can store tens of thousands of different types. Guarda Guarda is a free, all-purpose crypto wallet whose users can access their crypto via mobile, desktop or browser extension.

It says it supports more than , digital assets. Users of Guarda can move their crypto into cold storage through an integration with the hardware wallet Ledger. Guarda also has staking programs available. Assets supported: More than , MetaMask has mobile and browser-based wallets, though it does not have a desktop app. MetaMask also does not have staking directly in its app. You can, however, easily stake tokens using the apps that connect to MetaMask on the web.

Trust Wallet Trust Wallet is another storage product that operates in partnership with a major crypto exchange. It is the official wallet of Binance, the international digital asset firm, and that partnership gives users the ability to buy, sell and trade directly from their wallet. It says it supports more than a million types of digital assets, though it lacks some offerings that competitors provide.

It is, however, fully open-source — a distinction that only a handful of competitors share. Assets supported: More than 1 million. While there are ways to do this yourself, hardware wallets come preloaded with software and other usability and security features that make the process smoother.

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Others are made only for storage. There are pros and cons to keeping your cryptocurrencies online or in an offline wallet. There is no universal minimum purchase rule for digital currencies, but some exchanges have minimum order sizes, and fees may make small purchases impractical. Bitcoin is highly volatile. Pros Secure storage of bitcoin and other digital currencies Ability with some to buy and sell coins to take advantage of market fluctuations Flexibility to keep your coins online and accessible, or offline and ultra-secure Cons Some exchanges associated with these wallets charge high fees Setting up some wallets can be complex Hardware wallets require an initial cost How Should I Choose a Bitcoin Wallet?

The best bitcoin wallet for your needs depends on your comfort with technology and your goals. Here are some of the best types of wallets for different situations: Beginners: Consider starting with an online wallet that charges very low fees for transactions. SoFi, Robinhood, and Coinbase are best for this group. If you have a strong investment background, SoFi, Robinhood, and Exodus are good choices.

Experienced users: Hardware wallets offer the best security. People who are very comfortable with computers should have no problem navigating the additional complexities. A cold wallet is on a device that is disconnected from the Internet. Because they are not connected to the Internet, they may be harder for other users to reach. But if you lose the actual device, recovery could be very difficult.

They also generally can hold at least some types of NFTs, or non-fungible tokens , and many connect directly to exchanges where you can buy or sell crypto. The key differences between crypto wallets are: How many types of digital assets are supported? How easy is it to move crypto offline, into a cold wallet? Are there resources for in-app staking or rewards programs? Atomic Wallet Atomic Wallet allows users to store more than cryptocurrencies, and it also provides options for people who want to buy, exchange, or stake digital assets directly from their wallets.

One feature that distinguishes Atomic Wallet from its competitors is that you can buy a paid membership, which allows you to earn rewards when you carry out a transaction using its platform. Unlike some other hot wallets, however, Atomic Wallet does not offer a browser extension, which can be a big help in using cryptocurrencies to interact with decentralized applications.

Assets supported: More than Can convert to cold storage: No. The company operates the largest U. But Coinbase Wallet is a separate product that allows users to store cryptocurrency themselves rather than keeping it in the custody of Coinbase. The free application has some other strengths, such as mobile and browser-based connections to decentralized applications. It also lacks some functionality offered by competitors, such as a desktop app, though its browser extension connects to the Ledger hardware wallet.

Can convert to cold storage: Yes. Users of Crypto. It also has a desktop app that integrates with Ledger hardware wallets. Another offering that might be of interest to some security-minded users is the availability of two-factor authentication. Can convert to cold storage: Yes, on desktop. Electrum Electrum is an outlier among wallets reviewed by NerdWallet, in that it only works with one cryptocurrency.

That cryptocurrency, however, is Bitcoin — far and away the most valuable cryptocurrency on the market. What Electrum lacks in altcoin offerings, however, it makes up for in security and transparency. This free, open-source product offers two-factor authentication, straightforward connections to cold storage, and support for multisignature transactions which require the signoff of multiple users.

Electrum offers only a desktop app, but the tools it offers to Bitcoin power users make it a standout. Assets supported: One Bitcoin. Exodus Exodus offers a solid set of software tools, including a mobile app, a desktop app and a browser extension.

Its products allow users to buy, trade or stake cryptocurrency directly from their wallets, and it has an integration with the Trezor cold wallet intended to help people easily move crypto from hot to cold storage. Exodus, which is free to use, also has a solid library of explanatory content for people who are learning about crypto.

Exodus supports about cryptocurrencies, including many of the most popular assets. However, that number is smaller than some of its competitors who say customers can store tens of thousands of different types. Guarda Guarda is a free, all-purpose crypto wallet whose users can access their crypto via mobile, desktop or browser extension.

It says it supports more than , digital assets. Users of Guarda can move their crypto into cold storage through an integration with the hardware wallet Ledger. Guarda also has staking programs available. Assets supported: More than , MetaMask has mobile and browser-based wallets, though it does not have a desktop app.

MetaMask also does not have staking directly in its app. You can, however, easily stake tokens using the apps that connect to MetaMask on the web. Trust Wallet Trust Wallet is another storage product that operates in partnership with a major crypto exchange. It is the official wallet of Binance, the international digital asset firm, and that partnership gives users the ability to buy, sell and trade directly from their wallet. It says it supports more than a million types of digital assets, though it lacks some offerings that competitors provide.

It is, however, fully open-source — a distinction that only a handful of competitors share. Assets supported: More than 1 million. While there are ways to do this yourself, hardware wallets come preloaded with software and other usability and security features that make the process smoother.

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