Comparison of different wallets

Comparison of different wallets

Comparison of different wallets (bitcoin wallets)

You have decided to buy and exchange bitcoins.

You need, as we have explained, a wallet, that is to say an electronic wallet that will be either an application, a website or a device managing your private keys.

You will thus have in your possession a Bitcoin account to carry out your transactions.

Here is a comparison of different wallets for Bitcoin (but not only).

1-Hardware wallets: hardware wallets.

These wallets are electronic devices that will allow you to store your Bitcoins safely, whether you have few or many. It is a practical and extremely safe way. The hardware must be plugged into your computer, smartphone, or tablet, such as a USB flash drive, before you can use it. Your keys are kept offline, even when connected to your computer. These hardware are well paying. It is best to choose them with a screen that allows you to view important information. Here are some of the best hardware:

  • TREZOR

TREZOR is a Very compact device. It was the first on the market and it allows to use its bitcoins very easily. It exists since 2014.

  • Ledger Nano S

Ledger Nano S made in France. It has a screen. It is one of the most known companies for the security of bitcoins and it uses a certified microprocessor against all types of attack. Its technology is used in the banking sector. It exists since 2016.

  • Ledger HW.1

It is a hardware without screen, multi signature and cheap.

  • KeepKey

It features a large screen. It is very simple to use thanks to clear and detailed instructions. It exists since 2015.

2-Hot wallets (mobile wallets)

Hot wallets work on devices connected to the Internet, such as computers, smartphones or tablets. They generate your private keys. Because of their connection to the Internet, they can not be considered 100% safe. They are therefore not suitable for storing large amounts of bitcoins, but they can store small quantities in order to make regular payments easily and quickly. Here are some examples of this type of portfolio: 

Portfolios on Androïd. There are a lot of them because at first Apple refused the Bitcoin portfolios.

Among them:

  • Spawn

It is the best known.

It is very easy to use to make payments or to receive your Bitcoins and also allows you to store your currencies in a very simple way thanks to its very clear explanations.

  • Greenbits

This is the Android version of Green AddressIt is dual signature and is compatible with hardware wallets such as Ledger or Treasure.

  • Bitcoin Wallet

Bitcoin Wallet  is the first to have worked on mobile. It has the particularity of connecting directly on the network and is therefore more secure. It is very easy to use for beginners.

  • Wallets for iPhone and iOS devices

Initially Apple had refused the Bitcoin portfolios, but eventually it offered many possibilities for iOs users.

  • Breadwallet

Breadwallet  is very simple to use for receiving or sending Bitcoin. It allows full control over private keys. It is probably the best Bitcoin wallet for iPhone.

  • Copay

Copay  is available with Windows, iOS, Android and all desktop platforms. Thanks to him, you can open several accounts (a staff and a professional for example). This is the portfolio of BitPay.

  • Airbitz

Airbitz  is also very easy to use. It is compatible with iPhone and Android. It is ideal for beginners and also creates automatic backups.

3- Office wallets

They can be downloaded to your desktop computer.

  • Electrum

Electrum  is suitable for Mac, Linux and Windows. It can support hardware wallet and secure the storage of your Bitcoins with an offline computer. It is easy to use for beginners.

  • Bitcoin wallet

It allows you to exchange your Bitcoins with anyone in the world. You can exchange your Bitcoins for your local currency. It is based on the Copay portfolio created by BitPay.

  • Armory

Armory  is best for experienced users. It is multifunctional with different backup and encryption options and allows storage on PCs disconnected from the network.

4- Online portfolio

The online wallet stores your Bitcoins on a website. This means that you entrust your storage to a third party.

This is not really the ideal, because if the site was to be hacked you risk losing your Bitcoins.

Of course, these sites make real efforts in terms of security and this solution is extremely convenient.

  • Coinbase

Coinbase is very easy to use. It offers tools for traders. It is available in French and offers integration with bank accounts in Euro and Dollars to make your transactions in Bitcoin.

5- Paper wallet

This is a solution that should be adopted in addition to any other portfolio you have chosen.

Among them :

  • Bitadress

Bitaddress  is very fast.

This is the most secure solution if you do not write the address and the private key in the same place.

It can keep your bitcoins for long periods.

But to make a payment it requires the import of keys in a portfolio such as Muitibit, Electrum, or Bitcoin-QT.

So you have an overview of the different wallets that are available for your bitcoins.

You can of course choose several solutions combined.

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