For many people, the terms blockchain and cryptocurrency have become a part of everyday conversation and life and these are almost interchangeable with the leading crypto, Bitcoin (BTC). Since it was introduced in 2009, Bitcoin has become a force to be reckoned with, despite the inherent volatility. A number of cryptocurrencies have come and gone, Bitcoin has experienced massive growth and is worth thousands of dollars now and it has reached a new all-time high in 2021. Therefore, for many investors, both amateurs and professionals, it seems the best move to own some bitcoins.
However, like most of the other valuable objects, the overall value of can only be determined by how safe you keep your bitcoins. To store Bitcoin safely, you should be aware that you have to invest in a cryptocurrency wallet and there is plenty of variety to be found in the market. There are different types of wallets, such as hot wallets and cold wallets, and further categories under these that you will come across when you begin your search. It is of the utmost importance that you make your choice carefully if you want to keep your bitcoins secure.
Here is a list of the best bitcoin wallets for 2021 that you can explore if you are looking for reliable options:
Ledger Nano X
This is the top pick that you will come across for the best Bitcoin wallet. Even if you don’t own bitcoins, but have any other cryptocurrency, getting Ledger Nano X is a safe bet because it will help in keeping your digital assets secure and safe. This is Ledger’s second-generation wallet, which is a French company that has been part of the crypto space for a couple of years now. The Ledger Nano S was their first product and it was one of the first few hardware wallets to exist in the market and remained the top choice for a number of years.
Even though you will come across a number of online Bitcoin wallets, these hardware wallets are actually plugged into your computer. They are quite similar in appearance as a USB drive and are connected to your device via Bluetooth or USB, so you don’t need to have a specific Mac, Windows or Linux computer or laptop all the time and you can even connect the wallet to your mobile device via Bluetooth.
As it is a hardware wallet, the Ledger Nano X provides support for more than 1,500 cryptocurrencies that have continued to grow every year. It is a cold storage hardware wallet, but you will also come across a companion Ledger Live software that comprises a user interface for managing all your holdings. With this user interface, people can add new wallets for other cryptocurrencies and use the software for managing their portfolios easily. Hardware wallets remain popular in the industry and for good reason.
As far as the Ledger program is concerned, it comprises of a USB Type-C cable, so that can also be used for connecting to a desktop computer. The Bluetooth function works for connecting with a tablet or smartphone. In a nutshell, it is open-source, stores up to 100 different apps simultaneously, offers Bluetooth connectivity, and Ledger Live has a convenient and intuitive user interface.
Trezor Model T
Another second-generation cold storage wallet that you will come across for storing bitcoins and a number of other cryptocurrencies is Trezor Model T. This functions a lot like the Ledger wallet but provides the users with access to various third-party exchanges, such as ShapeShift and Changelly. These exchanges can be accessed through the wallet, which is highly convenient, but this also drives up the price of this cold storage wallet.
The Model T gives you the option of taking advantage of the touch screen, which can be incredibly helpful for new users. You will also come across a MicroSD slot, which allows you to encrypt the PIN further and keep your device protected from any kind of attack. The Trezor Model T also comes with the USB Type-C cable, which means connecting to your desktop computer, smartphone, laptop or tablet is quite easy for getting access to your storage wallet. Moreover, the wallet offers support for more than 1,400 cryptocurrencies.
The large list of supported cryptocurrencies, the simultaneous availability of an unlimited number of wallets, a solid amount of community and customer support, and a web-based user interface built-in with the exchanges for easy access, all work in favor of the Trezor Model T.
Ledger Nano S
Ledger’s first-generation wallet was none other than Ledger Nano S and unlike the later iterations of the original hardware wallet, this one didn’t boats a USB Type-C cable, so this might make it a bit difficult to connect it to the latest iOS or Android smartphones and tablets. But, the Nano S offers support for almost the same list of cryptocurrencies as the second generation Ledger Nano X and provides users with access to the Ledger Live software. The number of wallets you can use simultaneously is limited and no Bluetooth support is available, but this doesn’t make it any less safe.
The Nano S is an excellent option for people who want to store their Bitcoin safely and do it at a very fair price. The Ledger Live makes everything simple, so even beginners wouldn’t have a problem with using the interface and they will be able to keep track of all their wallets with ease.
An easy-to-use and simple crypto wallet, Exodus is an excellent choice for beginners. The user interface is quite straightforward and the exchange is also built-in, so your purchases and trades can be done with ease, while your Bitcoin address remains perfectly safe. It is a hot wallet-style storage device that has gained a lot of popularity because it allows you to switch between a wide variety of cryptocurrencies. You will find a 100 cryptocurrencies available on exchange and can be swapped on the wallet app of Exodus.
Not only is Exodus simple to use, but it also boasts an outstanding service team that can provide guidance and advice to new users who are just entering the crypto market. However, it should be noted that it is a closed-source wallet, which means the code is not visible for everyone to see. The wallet also comes with options to set up custom fees to ensure that your transactions are executed quickly. It is an excellent place to begin if you are a beginner and you can get some great support available as well.
If you are searching for the original Bitcoin wallet, Electrum is the way to go, which was introduced in 2011 and hasn’t changed much since then. It is wholly dedicated to Bitcoin and is the best option for advanced users because it comes with some complex options. Unlike other hot wallets, Electrum is actually open-source and custom transaction fees can be set by the users. You are also free to select between SegWit and legacy Bitcoin and also select the level of security you want. You can use multi-signature, two-factor authentication or elongate your seed phrase by customizing them as per your preference.