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Cryptocurrencies like bitcoin have been around for more than a decade, but in the past few years they’ve moved beyond a niche investment to the mainstream. Companies such as Microsoft, Amazon, Starbucks, Whole Foods, Paypal, and countless others now accept bitcoin and other virtual assets as forms of payment, and — despite several price fluctuations — bitcoin’s price currently sits at more than $20,000 as of September 1, 2022.
If you’re looking to invest in bitcoin or another cryptocurrency like ethereum or litecoin, you’ll need to pick an exchange (e.g., Coinbase or Kraken) that offers such assets, as well as a „wallet“ to store and secure your private key code for accessing your assets. But crypto exchanges aren’t your only option; some investment apps let you buy crypto (SoFi Invest, Webull, and Robinhood all let you trade cryptocurrencies). We’ve compiled some of the best bitcoin wallets for storing your private key code below.
Table of Contents
- 1 Best overall: Exodus crypto wallet
- 2 Best for advanced users: Electrum crypto wallet
- 3 Best for Android users: OPOLO crypto wallet
- 4 Best for mobile users: Mycelium crypto wallet
- 5 Best for digital storage: Cobo crypto wallet
- 6 Best for software storage: Wasabi crypto wallet
- 7 Best for beginners: Shift Crypto wallet
- 8 Best for bitcoin-only investors: CoinKite crypto wallet
- 9 Compare the best bitcoin wallets for storing crypto
- 10 Exodus (jump to Exodus details »)
- 11 Electrum (jump to Electrum details »)
- 12 OPOLO (jump to OPOLO details »)
- 13 Mycelium (jump to Mycelium details »)
- 14 Cobo crypto wallet (jump to Cobo details »)
- 15 Wasabi (jump to Wasabi details »)
- 16 Shift Crypto (jump to Shift Crypto details »)
- 17 CoinKite (jump to CoinKite details »)
Best overall: Exodus crypto wallet
Best for advanced users: Electrum crypto wallet
Best for Android users: OPOLO crypto wallet
Best for mobile users: Mycelium crypto wallet
Best for digital storage: Cobo crypto wallet
Best for software storage: Wasabi crypto wallet
Best for beginners: Shift Crypto wallet
Best for bitcoin-only investors: CoinKite crypto wallet
Compare the best bitcoin wallets for storing crypto
Exodus (jump to Exodus details »)
Why it stands out: Exodus offers cryptocurrency exchange services for desktop, mobile, and hardware crypto wallets. Exodus‘ account features also include live charts and portfolio data, 24/7 customer support, a built-in exchange, and more than 200 cryptocurrency assets.
Plus (for a limited time), it also lets you buy commission-free cryptocurrencies (meaning you’ll pay 0%) like bitcoin, solana, and others with USD, EUR, and GBP. To take advantage of this offer, you’ll need to make the purchases through the Exodus mobile app. Acceptable payment methods include Apply Pay, bank account, or credit/debit card.
If you want, you can also manage your assets using both Exodus and Trezor, another popular bitcoin wallet. You don’t need to use multiple wallets, but some users might prefer having multiple wallets as an additional security measure for their assets.
Exodus and Trezor’s partnership caters to those who prefer hardware security since you’d be able to securely manage your assets offline while simultaneously using the Exodus platform. Exodus typically receives 2-5% on each asset exchange, but the firm generally doesn’t charge you any fees to use its software.
What to look out for: Exodus mainly caters to hot wallet (software) users. It may not be suitable for the hardware-minded traders, unless you plan to use a Trezor device with the app.
Electrum (jump to Electrum details »)
Why it stands out: Launched just two years after bitcoin was created, Electrum specializes in private key encryption and two-factor authentication. Like Exodus, Electrum is a hot wallet that gives you online encryption for your crypto information.
Electrum verifies that all of your bitcoin transactions are in the bitcoin blockchain, and its Multisig feature allows you to spend bitcoin between multiple wallets. Electrum also supports other wallets, including Ledger, Trezor, and Keepkey.
In addition, Electrum says it offers several interfaces that you can use on mobile, desktop, or with its command line interface. However, with its cold storage offering, you can sign transactions from an offline computer, according to its website.
What to look out for: Electrum doesn’t offer traditional phone customer support. However, the company provides helpful information in its documentation and FAQ sections, it offers a Reddit support page, and it allows you to ask questions on bitcointalk.org. Another thing to note is that, while Electrum supports other wallets, it only allows for bitcoin transactions. This may be a downside for those interested in exploring other cryptocurrencies.
OPOLO (jump to OPOLO details »)
Why it stands out: Based in Luxembourg, OPOLO provides its own free and encrypted hardware wallets that utilize EAL 6+ rated secure chips (EAL certifications are security certifications used for hardware wallets). This means you’ll be able to store any crypto assets offline. OPOLO also says it offers genuine device check, USB encryption, anti-theft protection, PCB encapsulation, randomized keyboard access, and virus-free usage.
You can set up bitcoin wallets, ethereum wallets, or take advantage of more than 120 other coins. As for tokens (these are also virtual assets, but unlike coins, they’re formed through blockchains that have already been created), OPOLO currently offers more than 280,260. It offers more than 100 coins. And thanks to the company’s security measures, its bitcoin hardware wallet allows you to backup and recover any assets.
OPOLO’s mobile app is only available on Android devices, but the wallet is also available on Mac, Windows, and Linux for users with desktops or laptops.
What to look out for: Keep in mind that the OPOLO mobile app is best for Android users. If you don’t have an Android phone, you can still download the OPOLO hardwallet on your desktop or laptop. With Android app, however, you’ll be able to exchange cryptocurrencies from your phone.
Mycelium (jump to Mycelium details »)
Why it stands out: Formed in 2008, Mycelium is another popular bitcoin wallet that offers a wide range of storage services. Among these are advanced cold storage, spending and savings accounts for bitcoin investors, and inter-wallet operability. The Foundation for Interwallet Operability (FIO) created inter-wallet operability to make it easier for crypto holders to send or receive coins across different blockchains or wallets). You can download Mycelium for free.
Read more: Best crypto wallets in Australia
The company says its wallets are 100% secure and allow for open-source, incognito use. Mycelium’s wallets are also reproducible, and the platform is compatible with Trezor, Ledger, and KeepKey hardware wallets.
Though Mycelium is mainly a bitcoin-focused wallet, it also supports ethereum and other ERC-20 tokens. Additional features include in-app exchange, trading, and educational resources.
What to look out for: Mycelium’s customer support is primarily available through email.
Cobo crypto wallet (jump to Cobo details »)
Why it stands out: Though it formerly offered hardware wallets through Cobo Vault, Cobo transitioned to provide a digital Cloud wallet for its users. The app offers support for more than 40 coins and more than 180 tokens, and iOS and Android users can take advantage of these perks.
Cobo also offers features like multi-factor authentication, hot-cold storage, and multi-signature storage for private keys. And institutions can utilize its Cobo Custody crypto services.
What to look out for: Cobo isn’t best choice if you’re solely in search of hardware crypto storage.
Wasabi (jump to Wasabi details »)
Why it stands out: Available on Mac, Windows, and Linux desktop devices, Wasabi is a free hot wallet that offers open-source, non-custodial storage for bitcoin investors. Wasabi also offers trustless CoinJoin transactions that allow you to merge your coins with other users in one transaction to prevent third-parties or hackers from tracing where each coin came from, according to its website.
This feature doesn’t compromise you coins‘ security, though. Neither you nor the other users will be able to trace where each coin came from. Wasabi says this eliminates the risk of stolen funds because — unlike regular transactions where there’s one sender and one receiver — it’s more difficult for outside parties to trace.
What to look out for: Wasabi is available on multiple desktop devices, but you won’t be able to access it on iOS or Android mobile phones.
Shift Crypto (jump to Shift Crypto details »)
Why it stands out: With Shift Crypto’s BitBox02 hardware wallet, you can store your crypto private key and manage any assets offline through an external chip. The first version of the BitBox02 wallet supports bitcoin, ethereum, litecoin, and more than 1,500 other cryptocurrencies.
But Shift Crypto also provides a bitcoin-only edition. This version could be a great fit for you if you’re only looking to store bitcoin. It relies on bitcoin-only firmware and offers compatibility with the BitBoxApp, Electrum, Specter, and Sparrow.
The BitBoxApp gives you desktop access. Shift Crypto stopped selling its other product — BitBox01 — in 2019.
What to look out for: If you’re a fan of mobile access, you’ll only be able to use Shift Crypto on Android devices.
CoinKite (jump to CoinKite details »)
Why it stands out: CoinKite makes several crypto hardware wallets that offer external security for crypto investors, but its coldcard wallet could be particularly suitable for bitcoin-focused traders. Its bitcoin-only coldcard wallet signs your crypto transactions to keep your private key offline.
The wallet — which is available as a specialized chip and numeric keypad — is also compatible with the following crypto wallets: Bitcoin Core, Electrum, BTCPay, Specter-Desktop, Wasabi, Fully Noded, Unchained Capital, Casa, BlueWallet, Coldcore, Sparrow, and many more.
CoinKite’s other offerings include Opendime, BlockClock Mini, Seedplate, Coldpower, Coinkite terminal, and Bitcoin server.
What to look out for: Keep in mind that the coldcard wallet is an external, offline crypto storage device. If you’re looking for online storage, you’ll need to consider other options.
Read more: Best wallets crypto – Krypto-NFTs