9 Best Bitcoin Wallet Services to Use for Investing in BTC

Since the last bull market, Bitcoin and other cryptocurrencies have stayed in the global spotlight. This bull market proved that even people with no prior experience with Bitcoin could become adept at holding crypto. If you wish to join them, the best way to start is to choose the best Bitcoin wallet app.

Today, most crypto wallets support multiple currencies besides Bitcoin. They allow you to expand your portfolio and hold many different coins.

What’s more, there are several types of wallets: online, offline, hardware, and even paper. Each of these offers unique features to help you manage your holdings.

Why Should You Create a Bitcoin Wallet?

The main reason to create a crypto wallet is to receive or send your coins and/or tokens. Crypto wallets are software programs that work with the blockchain and allow you to move your funds around or hold them, depending on your preferred method of investing.

It would be difficult to manage your crypto without a wallet. This is why exchanges generate a wallet for your crypto as soon as you create an account and purchase BTC. In these cases, you can use that wallet just like any other that you install on your devices, although it’s not recommended.

How to Start Using a Bitcoin Wallet?

The way you use a wallet depends on the type of wallet you have. Desktop and mobile wallets work as typical apps that you download and install. As soon as you do it, you will access all of their features. 

Exchange wallets, on the other hand, give you access to your funds only when you log in to the exchange. This is not a safe option because exchange hacks happen quite often, not to mention that using these wallets is limited, compared to computer and mobile-based ones.

Another type of wallet is hardware BTC wallets that store your funds on a specially designed USB. You can access them through software, and these wallets are always offline, till you plug them to a laptop or another online device. As such, they are considered to be the best 

Whichever device or wallet you use, you need to generate appropriate address for specific currency. For example, you mustn’t use a Bitcoin address to send and receive Ethereum, or else you’ll lose your funds.

Best Bitcoin Wallets for 2022

Coinbase

About the Wallet

Coinbase is one of the first wallets you’ll read about online. More than just a wallet, this is also a trading platform where you can buy and sell your cryptocurrency. In addition, it offers a secure storage address to keep your investments safe. Coinbase also provides FDIC insurance for your investments and supports most cryptocurrencies. 

This cryptocurrency platform was launched in 2012, and it’s one of the preferred platforms of crypto enthusiasts and holders today.

Coinbase wallet is a self-custody wallet, which means that you have complete control of your crypto, keys, and private data. Still, the wallet is available in about 100 countries, so you have to check if it’s accessible in your area before you register.

Main Features

This wallet comes packed with features that include but aren’t limited to:

  • Crypto storing
  • Support of 4,000 assets
  • Industry-leading security
  • NFT storage
  • Coinbase platform access
  • All ERC-20 token support
  • DeFi liquidity pools
  • Asset swap features
  • DAO projects

This wallet is available for iOS, Android, and Chrome. To start using it, visit this page. However, keep in mind that you’ll need to pass an ID verification to open an account with the platform and get access to a wallet.

Ledger Nano X

About the Wallet

Ledger provides you with one of the best hardware wallets to store your Bitcoin. This company was established in 2014, and it’s quite famous among crypto investors. So far, Ledger has proved to be powerful and safe enough for millions of users globally.

Ledger’s offices are located across the globe, in Paris, Vierzon, New York, Zurich, and Singapore. If you’re looking for a handy hardware wallet to store your Bitcoin, you should definitely consider Nano X.

Keep in mind that this wallet works with a Ledger Live app that gives you access to your funds.

Main Features

The features that place this app on our best crypto wallet list include: 

  • Buying and exchanging multiple cryptocurrencies
  • Smartphone hardware wallet connection
  • Support of over 100 apps and 5,500 different tokens
  • DeFi apps, NFTs, and more

This wallet is only 72mm x 18.6mm x 11.75mm and weighs 34 grams. It has a type C USB connector and is made of brushed steel and plastic.

Once you purchase Nano X, visit this page to get started. This wallet is compatible with Windows, Mac, Linux, iOS 9+, and Android 7+.

Exodus

About the Wallet

The Exodus crypto wallet is usually recommended for beginners due to its straightforward and visually pleasing interface. Like many other wallets, Exodus lets you keep more currencies than just Bitcoin. This wallet gives you complete control over your funds, regardless of where you installed it.

Exodus also connects with the Trezor wallet, giving you the option to manage your investments via this hardware wallet, in case you need it.

Exodus was founded in 2015, and the team behind it aims to simplify cryptocurrency use. So far, this Bitcoin wallet app has succeeded in its mission. It supports over 150 crypto assets and offers regular software updates to protect its users.

Main Features

The desktop version of Exodus has the following features:

  • 150+ cryptocurrency assets
  • An exchange that works 24/7 inside the wallet
  • Automatically checking for address errors while sending/receiving crypto
  • 24/7 human support
  • Various crypto apps that make this Bitcoin app fun to use

The mobile app has all the features of the desktop version, plus:

  • Desktop sync
  • One-touch easy trading
  • Additional security via fingerprint for access

If you want to use the Exodus desktop app, visit this page. For iOS and Android versions, head over here. This page will explain how to connect Exodus to Trezor and use it with this hardware wallet.

Bitcoin.com

About the Wallet

The Bitcoin.com wallet offers every feature you need to enjoy economic freedom in one digital wallet. The Bitcoin.com platform is also filled with useful information for you to read if you’re a beginner in crypto investing.

This wallet is easy to use if you wish to buy, sell, or invest in crypto. So far, Bitcoin.com has around 30 million wallet addresses generated on the platform. Your holdings will be protected by the keys only you have access to, as well as the wallet’s biometric security features.

Main Features

Bitcoin.com is on our list of the best Bitcoin wallets because of its ease of use. Here are the features you can take advantage of once you install it:

  • Supports credit card, payment app, or bank transfers
  • Instant swap between currencies
  • Automatic wallet backup with a single custom password
  • Support for most ERC-20 tokens
  • NFT marketplaces
  • Options for savings or spending wallets
  • Real-time market data
  • Customizable fees for sending crypto

Keep in mind that this free Bitcoin wallet is primarily available for iOS and Android download, but you can find other versions on GitHub

Trezor

About the Wallet

Trezor is another hardware wallet recommended for crypto holders who hold larger amounts of coins and don’t trade often. This hardware wallet is audited by security researchers, meaning it’s highly safe for all your crypto investments. Trezor also has a high customer rating.

Since its storage is offline, you can rest assured that your coins will always be safe. Moreover, Trezor’s backup is offline as well, making it one of the best cold wallet tools you’ll want to use for enhanced security.

Only you’ll have access to this wallet, thanks to the personal recovery “seed” that’s generated for each user who purchases a Trezor device.

Main Features

With Trezor, you’ll take advantage of the following features:

  • Multiple models
  • Intuitive app interface
  • Cross-compatibility with several other wallets
  • Cloud password manager
  • Support, and more

Once you purchase this wallet, you’ll need to connect it to the desktop app. Check out this page for more. Trezor Suite is also available as a web application. To connect your Trezor device straight to your browser, visit this page.

Mycelium

About the Wallet

Mycelium is one of the oldest and best Bitcoin wallet app. When we dug a little deeper, we found that Mycelium is among the rare reproducible wallets—there’s no dependence on the development team, which makes it particularly secure.

This wallet allows for open-source, incognito use without any ID verification. What’s more, Mycelium lets you manually manage all third-party services.

Main Features

Mycelium is mainly made for Bitcoin. Still, this free BTC wallet also supports Ethereum and some ERC-20 tokens. Its features include, but aren’t limited to:

  • FIO network features
  • BIP-70 support
  • Advanced transaction history
  • Several blockchain explorer options
  • NFC
  • Hardware wallet support
  • Multiple levels of pin protection
  • TOR network support to mask IP

To start using Mycelium, visit this page. You can download an APK file or get the app from Google.

Electrum

About the Wallet

Electrum is among the best Bitcoin wallet apps mentioned on Reddit. It was launched in 2011 under the MIT License. However, keep in mind that Electrum versions older than 3.3.4 are now susceptible to phishing, so be extra careful where you download it from.

This issue aside, Electrum is still considered one of the safest, fastest, and most popular wallets for Bitcoin. It also offers a cold storage option, where you sign your transactions on an offline computer.

Main Features

Electrum offers multiple user interfaces and is suitable for all kinds of crypto users. The wallet has the following features:

  • Encrypted private keys
  • Private keys export
  • Decentralized servers (no downtime)
  • Multisig
  • Cold storage

All these features make Electrum one of the best Bitcoin wallets. As a reproducible wallet, it’s signed independently by several builders.

Electrum is available for multiple operating systems, programming languages, and devices, including Python, Linux, Android, and iOS. To select the right version for you, visit this page.

CoolWallet Pro

About the Wallet

CoolWallet Pro is owned by CoolBitX, a company dedicated to building secure and user-friendly blockchain solutions. This Bitcoin hardware wallet operates via Bluetooth and connects to Android and iOS devices.

This hardware wallet is the size of a credit card, which makes it easy to carry around and use wherever you need to. In addition, it has an upgraded chipset and a higher CC EAL6+ rating, which is one of the highest security standards in the industry.

What’s more, it’s water-resistant and tamper-proof. The company offers several types of CoolWallet hardware, like CoolWallet Pro or S, and each one comes with a distinctive set of features and additions.

Main Features

As one of the best Bitcoin wallet apps for Android devices, CoolWallet Pro has the following features: 

  • Multi-currency support
  • Staking
  • TRC-20 tokens support
  • DeFi, NFT, and more

In comparison, CoolWallet S is a more basic model. It also comes in a standard credit card size with Bluetooth connectivity and trading features, but it doesn’t support DeFi and NFT.

CoolWallet runs on versions newer than Android 6 or iOS 9.1. Head over to this page to check out all the models, as well as the additional offers that come with each hardware wallet.

Wasabi

About the Wallet

Wasabi could easily be the best Bitcoin wallet. It’s open-source, non-custodial, and private. This wallet is owned by zkSNACKs, a company that researches the possibilities for Bitcoin fungibility enhancements.

It has more than 200,000 downloads so far. Wasabi’s major downside is that it is available only as a desktop app.

Main Features

Wasabi’s features include:

  • Built-in CoinJoins
  • TOR integration
  • Coin-control features

Wasabi’s CoinJoin implementation is completely trustless. The user’s private keys control the sending and receiving addresses. Wasabi is just there to get the process going, which places it among the top Bitcoin wallet apps.

There’s also no need to manually set up the TOR network; the wallet will automatically run on it. However, Wasabi generates only Bech32 addresses, also known as the native SegWit addresses, so be careful about how you send your coins.

Wasabi is available for Mac OS 10.13+, Windows 10, Debian/Ubuntu, and other Linux software. To download your preferred version, visit this page.

Summary

There are so many wallets out there, that you might find it challenging to select the best Bitcoin wallet for your particular needs. Before you start investing in Bitcoin, explore different wallets and apps.

If you want to take your coins on the go with you, a smartphone-based wallet is the right choice. On the other hand, if you trade often, you’ll likely want to keep your Bitcoin at the address of the exchange. Finally, if you invested a large amount of money and don’t plan to move it around, storing it in a hardware wallet might be the best option.

The good news is that almost all wallets are free to download and highly secure, so no matter what you choose, you can be sure that your Bitcoin will be safe.

FAQ

Which wallet you select to store your crypto on depends on your preferences and knowledge. If you’re new to crypto, you’ll likely prefer a wallet with a straightforward interface.

Still, if you wish to keep your funds completely safe and away from hackers, selecting a cold wallet is the best decision to make. Cold wallets are hardware wallets that keep your crypto in a strictly controlled environment away from the internet when you don’t use them. You have full control over your private keys as well.

There are several types of wallets out there, and not all of them work in the same way. For example, as soon as you open an account on the exchange, you’ll need to generate a new address. 

If you wish to access your crypto away from the exchange, downloading one of the wallets is a good way to store your Bitcoin. Keep in mind that you should always safeguard your private keys, as they’re the only way to access your wallet. Take your time and follow the steps in the application to install your wallet safely.

Besides keeping your Bitcoin on the exchange or the application, you can also store it on the hardware wallet. These types of wallets are among the safest, making them a great choice if you don’t send or trade crypto often.

First, you’ll need to purchase a hardware wallet. Once you receive it, check if it’s damaged in any way, or if the screen shows any pin codes. If it all looks good, you’ll have to connect it to the manufacturer’s app to get access to the interface. Once you do that, you’ll be good to go.

A crypto wallet is a software app or a physical device that stores private and public keys and allows for cryptocurrency transactions. In other words, a crypto wallet is a program or a USB stick that you use to safely store and manage your coins and tokens.

There are multiple types of crypto wallets—decentralized, hot, cold, etc. Investing in cryptocurrencies isn’t possible without a wallet, as that’s the only way to make transactions on the blockchain network.

The safest way to buy Bitcoin is via some of the established exchanges, like Coinbase, Bittrex, eToro, and similar. Create an account on one of the exchanges and select your preferred payment method.

Additionally, you can now purchase Bitcoin and a few other currencies via the PayPal app in supported countries. However, PayPal isn’t part of our list of the best Bitcoin wallet apps because it cannot be used as a crypto wallet.