5 Best Bitcoin Wallets: Top Crypto Wallets in 2022

5 Best Bitcoin Wallets: Top Crypto Wallets in 2022 

Review and compare the best Crypto Wallets with features to find the best Bitcoin Wallet for sending and receiving Bitcoins:



Crypto wallets allow you to generate unique addresses with which you receive crypto. They also allow users to send crypto to other wallet addresses over the blockchain and on a peer-to-peer basis. A wallet address is secured through a private key, which allows a user to recover it in case it is lost.


The best Bitcoin wallets allow users to watch their real-time crypto balances for their portfolios. This can be done on mobile phones, PCs, over the web, and other devices. Some Bitcoin wallets can sync on multiple devices.


Bitcoin Wallet



Most crypto wallets use the BIP32 key derivation standard which enables wallets to generate new wallet addresses for incoming transactions and keep change in a separate wallet, thus improving the privacy of transactions.


Some wallets also use P2SH or Pay-to-Script-Hash addresses that allow users to create new addresses to receive Bitcoins and to unlock the balances by following the set rules of using private keys. They are commonly used in multi-signature wallets and the addresses will have multiple digital signatures and private keys that prove ownership of the funds.

The most common types of wallet addresses are known as Pay-to-PubKey Hash (P2PKH) addresses were to unlock the funds, the recipient must use a private key associated with the public key has used to create the address.

Hierarchical Deterministic (HD) wallets use a master key and individual sets of private keys for each of the wallet addresses in the wallet. The secret 12-word phrase acts as a master key to recover the entire wallet.

Pro-Tips:


The most secure crypto wallets are the hardware wallet that allows signing of crypto transactions offline. These best crypto wallets can be used for storing a large number of cryptocurrencies.

Wallets with trading and exchange features are best for crypto traders as they allow them to buy and sell crypto without third parties.

Multi-asset wallets are some of the best Bitcoin wallets as they allow the storage of more than one type of digital asset.

Groups, for instance, can choose the multi-signature wallets that allow multiple parties to own private keys separately and more than one party will have to authorize a transaction with their private keys before it is allowed.


Frequently Asked Questions


Q #1) What is a Bitcoin wallet?


Answer: This is a digital wallet that stores digital cryptocurrencies and other assets. A Bitcoin wallet is basically software built on Bitcoin or other blockchain and which generates addresses to or from which transactions are received or sent. It stores a private key used to generate the wallet addresses, and which is used to sign transactions.

A Bitcoin wallet facilitates peer-to-peer transactions between users of cryptocurrencies.


Q #2) How does a Bitcoin wallet work?

Answer: A cryptocurrency wallet generates wallet addresses to or from which crypto or digital assets can be received or sent. One person uses another’s wallet address to send crypto to the second person. The second person has to have private keys to that wallet address.

The keys and addresses are associated cryptographically and securely to prevent hacking. In order to unlock and spend those sent funds, the balances are reflected in both wallets to allow transaction tracking while the users remaining anonymous.

Q #3) How much does a Bitcoin wallet cost?

Answer: Ideally zero. You do not require paying any money to create a Bitcoin or crypto wallet. It is used for storing your digital crypto currencies and Bitcoin. In most cases, sending a transaction from the wallet is also free or charged very little amount.

Q #4) How do you cash out your Bitcoin wallet?

Answer: Cashing out a Bitcoin wallet requires you to exchange the Bitcoin or crypto with the fiat currency of your choice. This may require you to send the Bitcoin or the crypto to a crypto-to-fiat exchange if the wallet is not hosted by exchange or platform that supports the swapping.

These exchanges allow you to sell for fiat and you can receive the amount in your bank or other through other payment methods. You can also sell Bitcoin or crypto directly to peers on local fiat 


Q #5) Which is the best crypto wallet?


Answer: Exodus is best for beginners. Others include Mycelium, Electrum, Ledger Nano S, Trezor.

List of the Top Bitcoin Wallets

Here is the list of popular and best online Bitcoin wallets:


    Pionex

    Bitstamp

    Crypto.com

    Exodus

    Mycelium

    Trezor

    Electrum

    Wasabi Wallet

    Opolo

    Cobo

    Shift Crypto

    Ledger

    BitPay

    Atomic Wallet

    BitcoinWallet

    Bitcoin Core

    Green Address


Review of cryptocurrency wallets:

1 Pionex

Pionex works as an exchange that supports crypto bot trading but also has a hosted Bitcoin wallet as well as wallets for 40 other digital assets. It allows trading of Bitcoin against stable coins and other cryptos. The exchange is licensed by the FinCEN for trading Bitcoin and other cryptos in the United States.

You can buy Bitcoin and other cryptos on the exchange with a credit card only. You can also opt for the Pionex Android and iOS app or buy on other fiat-to-crypto platforms if using other methods apart from the credit card method.

You can then send crypto from the Lite app or other exchanges to the Pionex exchange. But it allows withdrawing to external Bitcoin wallets.


Features:

Trade with free bots without actively manually monitoring the markets.

MAS-licensed by FinCEN for use in the USA.

Trade Bitcoin on margins, futures.

Use diverse technical indicators to trade Bitcoin.

Very low fees.

Fees: 0.05% for maker and taker.


#2) Bitstamp


Bitstamp supports 50+ cryptocurrencies for trading, holding, sending, and receiving. This includes hosted Bitcoin wallets that allow users to send and receive Bitcoins. To open a Bitcoin wallet with the platform, all a user needs to do is register and verify the account with the exchange.

Bitcoin wallets can also be accessed via APIs, for instance when connected to an institutional platform or expert trading platform with more advanced trading orders than Bitstamp supports. This allows them to trade, deposit, and withdraw assets from the wallet. Although it is a software wallet, a user can connect their hardware wallets like Ledger and send and receive crypto from and to the hardware wallet.


Features:

Web as well as Android and iOS app.

Bitcoin wallets and other wallets support multi-sig features and AES encryption.

 In-built wallets support instant, limited, market, stop, fill-or-kill orders, withdraw, send, and receive. Other order types are trailing stop orders.

Deposit into the wallet using bank deposits, wire transfers, debit/credit cards, and SEPA.

ACH daily deposits of up to 10,000 USD and $25,000 per month. The credit card limit is $5,000 or Euro or GBP per day and $20,000 per month. The minimum purchase is $25 or Euro or GBP.


Cons of the Tool

No leveraged or margined trading.

Limits on instant transfers to only some countries. ACH withdrawals are only available to US customers.

Type of Wallet: Software, Mobile (iOS and Android) app

Incorporated exchange: Yes

Compatible Hardware Wallet: Yes

#3) Crypto.com


Crypto.com – Best for staking users. High-interest rates.

Crypto.com provides hosted wallets for 250+ crypto currencies and tokens including Bitcoin. One of the reasons for having a wallet on the exchange is to swap crypto or trade it for fiat.

For this reason, Crypto.com offers an aggressive option to let you spend crypto on your wallet through a Crypto.com Visa card. You can pay for goods and services or withdraw fiat from visa-supported merchant stores globally, including ATMs. Different Visa cards offer different CRO staking percentage earnings.

Since wallets offer additional trading features like margin trading and loaning, they also suit active crypto day traders. Nevertheless, you can also rely on the platform’s extra security features and USA FDI insurance to hold crypto on the hosted Bitcoin wallets.

Features:

In-house tokens called CRO are spent on paying gas fees.

Pay and get paid for goods and services with crypto through the platform.

Track portfolios from within the wallets.

 Stake holdings on the wallet and earn up to 14.5 p.a. on the holdings.

Fiat withdrawl via fiat at a limit of $2,500/day limit (2 transfers/day) and $50,000 per month with a 30 transfer cap.

Cons of the tool:

 Limited support

Type of Wallet: Software wallet

Incorporated Exchange: Yes

Compatible Hardware Wallet: Yes. Connect to Ledger Hardware Wallets and Ledger Live application.


#4) Exodus


Best for diversified multi-crypto holdeExodus is one of the best online Bitcoin wallets as it allows users to get live price charts for cryptos. Live or real-time charts allow users to monitor market movements even on their mobile devices and hence can make decisions to sell or buy to add their portfolio before it is too late.


Features:


 Supports over 100 cryptocurrencies.

Works on Desktop, mobile, and syncs with crypto hardware wallets including Exodus and Trezor devices. It works on iOS and Android mobile devices.

 Allows one to buy and sell all supported crypto currencies from the app without having to withdraw or use a centralized exchange.

Cons of the tool: 

Not open-source hence hard to verify code.

No custom fees for Ethereum and other altcoins.

Type of Wallet: Software wallet. HD wallet.

Incorporated Exchange: Yes

Compatible Hardware Wallet: Yes

Price: Free

Website: Exodus

Recommended Reading => List of BEST Crypto Wallet U

#5) Mycelium

Best for crypto traders and diversified holders.

Like Exodus, Mycelium provides direct and one-on-one control of your crypto private keys and they will never leave your device. You can also lock the wallet with a secure pin. It allows users to operate multiple accounts and reuse addresses.

Features:

Facilitates in-app exchange and trading for ERC-20 and BTC cryptos. This is done using the Local Trader feature. It is one of the best multi-cryptocurrency wallets.In-app educational materials to help you understand crypto usage and security.

It supports paper wallets, private keys, and master seeds.

It integrates with any secure cold storage such as web wallets, Trezor, Ledger, KeepKey, and Entropy.

PDF backup and restore of single key accounts.

In-app educational materials to help you understand crypto usage and security.

It supports paper wallets, private keys, and master seeds.

It integrates with any secure cold storage such as web wallets, Trezor, Ledger, Keep

Key, and Entropy.

PDF backup and restore of single key accounts.

Cons of the tool: 

Difficult for beginners.

Lacks desktop version.

Type of Wallet: Deterministic wallet

Incorporated Exchange: Yes

Compatible Hardware Wallet: Yes

Price: Free

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