The Best Bitcoin And Cryptocurrency Wallets Of 2021
I’m sure that by now most of you have heard about Bitcoin and im willing to bet that many of you even own bitcoin. But where are you storing those bitcoins? On an exchange like Coinbase or Paxful? I surely hope not because if you are then that means your coins are under serious risk.
You see, exchanges keep your bitcoin private keys under their custody on your behalf which means that they have an all-access pass to whatever is in your wallet at any given time. Only you should have access to your private key. Not to mention if an exchange is ever hacked or exit scams (both of which have happened) all of your coins will be lost will no chance of getting them back.
Where should I keep my bitcoins?
The answer is you should keep your coins in a private wallet. A wallet that only you have access to. With a private wallet, you get your own private key and a seed phrase. A private key is a secret number that allows bitcoins to be spent and a seed phrase is used to recover your wallet in case of a forgotten or lost password. You should write it down it on paper and store it in a safe place.
Now, there are 3 main types of private wallets, desktop, hardware and mobile.
Desktop wallets are installed on a desktop computer and provide the user with complete control over the wallet. Desktop wallets function as an address for the user to send and receive Bitcoins. They also allow the user to store a private key. One of the most popular and highly trusted desktop wallets is Electrum. Desktop wallets are secure and fairly easy to use.
Hardware wallets are by far the most secure type of Bitcoin wallet as they store Bitcoins on a physical piece of equipment that is usually plugged into a computer via a USB port. They are practically immune to virus attacks. These devices are the only Bitcoin wallets that are not free, and they often cost between $50 to $150. Hardware wallets are very secure but are a bit more difficult to set up.
Mobile wallets or “web wallets”
Bitcoin wallet applications which are installable on mobile phones. For each mobile operating system, such as iOS, Android, Windows, and Blackberry, compatible wallets are available. Mobile wallets are the least secure out of the bunch but offer a easy to use interface.
So which wallet should I choose?
Now that you know why its so important to keep your crypto on a private wallet its time to pick which best suits your needs. Here at Dark Net Daily we know that there are a lot of choices out there so we went ahead and did the work for you. This is the list of The Best Bitcoin And Cryptocurrency Wallets Of 2021.
And I think its important to say that here at Dark Net Daily, we don’t write about things that we have not personally used. All of these products are tried and true.
The selection of a good wallet depends on a few important factors. The following are some of the factors that we took into account while making this list of The Best Bitcoin And Cryptocurrency Wallets Of 2021.
- Control private keys – A wallet where you own and control your key and seed.
- Backup & security features – Seed backup keys and pin codes.
- Developer community – Active development community for maintenance.
- Ease of use – Elegant UI for fast and easy use.
- Compatibility – Compatible on different operating systems.
Now that you know what to look for in a Bitcoin wallet, let’s check out the best Bitcoin wallets.
The Best Bitcoin And Cryptocurrency Wallets Of 2021
- 1. Trezor Model T – $169
- 2. Trezor Model One – cheapest hardware wallet on the market with a low price of $55
- 3. Ledger Nano X – $119
- 4. Ledger Nano S – $59
The first wallet on our list is the Trezor Model T. Presented by SatoshiLabs, a Czech Republic-based company, Trezor is the world’s first Bitcoin hardware wallet. This is the most modern and functional Bitcoin wallet that you can purchase on the market.
It is a small device with an OLED screen, which connects via a USB to your personal computer or phone. Its fundamental purpose is to store your private keys offline and sign transactions.
With Trezor, when you first connect it to your PC, it shows a nine-digit pin code on its OLED screen. You need to enter the same pin code by clicking on your corresponding PC screen. This code is generated randomly every time you connect Trezor and makes sure that even a tampered PC can’t get your pin.
After entering the pin, you will be asked to write your 24-word recovery seed. Again, you need to keep your recovery key safe because this is the only way you will be able to restore your bitcoins.
Trezor supports more than 1000 cryptocurrencies. You can read the full list here.
Some of the most popular are:
- BTC – Bitcoin
- ETH/ETC – Ethereum/Ethereum Classic
- NMC – Namecoin
- LTC – Litecoin
- DOGE – Dogecoin
- ZEC – Zcash
- DASH – Dash
Trezor can also be used with apps such as TREZOR Wallet, Mycelium, and Multibit HD.
It is available now for Windows (version 7 and higher), OS X (version 10.8 and higher), and Linux. You can also use it with your Android devices.
This is by far the best option that you have when choosing a wallet as it provides complete control and security as well as ease of use and compatibility. The Trezor Model T is priced at $169 and avaliable in Black.
2. Trezor One
The Trezor One is an early and more affordable version of Model T and It’s like a USB drive which connects to any USB port. It doesn’t have a battery and only starts up when plugged into a computer or mobile device.
The most notable difference between the Trezor Model T and Trezor One is that the Model T has a touchscreen and the Trezor One has two push buttons. The touchscreen’s main advantage is accessibility, but it also provides a security advantage during the recovery seed process.
The Trezor One comes with:
- Trezor Model One device
- Micro USB cable
- 2x Recovery seed card
- A 120 MHz embedded ARM processor running a custom developed system
Setting up the Trezor One is simple. All you need to do is connect it via the USB cord that it came with, download the Trezor software, reboot, and you’re finished. You can navigate using the 2 buttons at the bottom of your device.
When you configure your Trezor One as a new device, you need to set up your pin code in order to secure your wallet. After that, note down and store your 24-word recovery phrase. This recovery phrase can be used anytime to restore your bitcoins.
With this wallet, your private keys are stored offline, so you never worry about the safety of your coins.
Trezor supports more than 1000 cryptocurrencies. You can read the full list here. It is available now for Windows (version 7 and higher), OS X (version 10.8 and higher), and Linux. You can also use it with your Android devices.
The Trezor One is also the cheapest multi-currency hardware wallet on the market with a low price of $55. Available colors are Black and White.
Ledger Nano X. The Ledger Nano X is a hardware wallet from a French start-up. This hardware wallet works with desktop and mobile and comes with in-built battery.
From the security perspective, it has 2 chips (1 is for secure element) which ensures your private keys never get exposed to the world.
You can store up to 100+ cryptocurrencies and using Ledger Nano X, you can use it as a login for many exchanges.
Some of the supported coins by Ledger Nano X are:
- Ripple (XRP)
- Binance chain (BNB)
- Cardona (ADA)
- EOS (EOS)
- Monero (XMR)
- All ERC 20 Token
- BAT (Basic attention token)
A close runner up to the Trezor Models One and T, the Ledger Nano X is also a great choice when looking for a secure, simple, and reliable hardware wallet. The Ledger Nano X is priced at $119 and offers free shipping.
The more affordable option from Ledger is the Ledger Nano S. The Ledger Nano S is an early version of Ledger Nano X and It’s like a USB drive which connects to any USB port. It doesn’t have a battery and only starts up when plugged into a computer or mobile device.
It also comes with an OLED screen and two side buttons for confirming transactions.
When you configure your Nano S as a new device, you need to set up your pin code in order to secure your wallet. After that, note down and store your 24-word recovery phrase. This recovery phrase can be used anytime to restore your bitcoins.
With this wallet, your private keys are stored offline, so you need not worry about the safety of your coins.
The Ledger Nano S wallet supports the following major cryptocurrencies:
- Bitcoin (BTC)
- Bitcoin Cash (BCC)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Dash (DASH)
- Dogecoin (DOGE)
- Zcash (ZEC)
- Ripple (XRP)
- Stratis (STRAT)
- Komodo (KMD)
- Expanse (EXP)
- Stealthcoin (XST)
- NEO (Works with NEON Wallet and supports GAS too)
- Bitcoin Gold & more…
As a bonus, it is a multi-currency wallet where you can store/manage more than 700 coins and ERC20 tokens all at once place. And you can see the list of all supported cryptocurrencies here.
The Nano S is also the second cheapest multi-currency hardware wallet (after the Trezor One) on the market with a low price of $59. Available colors are Matte Black, Saffron Yellow, Flamingo Pink, Jade Green, Lagoon Blue, and Transparent.
Electrum is one of the original and free to use Desktop Bitcoin wallets. It has been around since 2011, two years after Bitcoin’s creation, and has changed little since. While this wallet is bare-bones in terms of its user interface and its commitment to only Bitcoin, it excels at this primary function. Electrum is also suited for advanced users as well as newcomers due to its easy to follow interface and simple navigation.
Electrum is open source, allows its users to set custom transaction fees, and has the option to choose between legacy Bitcoin and Segwit. It also offers users the ability to determine the level of security they wish to use. For example, you can create a standard wallet, one with two-factor authentication, or a multi-signature wallet. You can also elongate your seed phrase with custom words.
You can store your bitcoins without worry, as Electrum has no hosted servers or logs. At present, it only supports Bitcoin.
No registration or identity verification is needed to start using Electrum. But you certainly need to take a backup of your seed key.
Electrum is perfect for the Bitcoin holder who wants great security features and customizability all in a simple layout.
It is available on Mac, Linux, and Windows.
Exodus is a free to use, desktop-only wallet crafted by JP Richardson and Daniel Castagnoli in mid-2015 and it is the world’s first multi-cryptocurrency desktop wallet.
Simply looking at Exodus.io, you can tell that the company is putting a lot of effort into creating a good user experience. You can store your bitcoins without worry, as Exodus has no hosted servers or logs. At present, it supports cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, Golem, and Augur.
No registration or identity verification is needed to start using Exodus. But you certainly need to take a backup of your seed key! If you want to access and spend your funds, you are required to set a password.
While taking a backup of your seed key, it also asks for your email id for sending you a one-click link recovery feature. You can always use this email link along with your password to restore your Exodus wallet.
However, one thing to remember while using Exodus is that you can only take a backup of the seed key when you have some balance in your wallet.
Exodus is the first desktop wallet to have ShapeShift built in for exchanging cryptocurrencies.
It is available on Mac, Linux, and Windows.
That completes our list of The Best Bitcoin And Cryptocurrency Wallets Of 2021. With perfect balance of control and security, the Trezor Model T ($169) takes our top spot. It’s a wallet that takes full advantage of advancements in technology to deliver amazing results.
For an absolutely bargain-basement alternative that still provides plenty of reliability, the Trezor One ($55) comes in as a very close second.
Third, you’ve got the Ledger Nano X ($119). A great choice when looking for something simple and reliable.
And lastly, at a very reasonable price point is the Ledger Nano S (59).
Choose any of these hardware wallets and they’re guaranteed to deliver unmatched security and exceptional performance. You’ll never have to worry about losing your valuable coins again.
Don’t have any Bitcoin? No problem! Check out our list of The Best Places to Buy Bitcoin Instantly in 2021.