Bitcoin was first seen in 2009, but till now, it is the first thing that comes into mind when we talk about the word blockchain or crypto. No doubt, the cryptocurrencies market like bitcoin is highly unstable, but still, it doesn't go that away. As of value, bitcoin is still thousands of dollars in today's time. As Cryptocurrencies like bitcoin exist or appreciate value, the investors will always be interested in buying bitcoins, but it is imperative to know about it. It is crucial to understand for the investors about how to store bitcoin.
For people who are looking forward to investing in bitcoin must know the best storage devices and bitcoin wallets. Some of these wallets are best and have better features than others, like storing more cryptocurrencies and protecting them. Here in this article, we will discuss the list or best bitcoin wallets, which are better than having hot wallets. Hot wallets are not that bad, but they are less secure to perform the transactions easily and quickly. Cold wallets, as compared to hot wallets, provide more security for storing the bitcoins for the longer term. Before choosing the wallet, keep in mind that safe storage is crucial. You can visit https://bitcointrend.app if you want to know more about bitcoin trading.
Let us move forward and know about the best bitcoin wallets as of 2020 that are as follows:
Electrum was released in 2011 and is one of the original bitcoin wallets. It has been around after the two years of the creation of bitcoins. This wallet has the most advanced user- interface, and its only commitment is towards bitcoin. The advanced users who are interested in bitcoin must go for Electrum. It has quite complex options that only advanced users can understand and use.
It is an open-source wallet, which means it is free for everyone and allows the users to set their transaction fees. Users are allowed to choose between Segwit and legacy Bitcoin. This wallet is best for advanced bitcoin users who want customizability and high-security features.
This bitcoin wallet's main advantages are it allows the users to set transaction fees and offers high security compared to other hot wallets. It also offers its user to customize seed phrases.
Exodus is a mobile and desktop wallet that offers an easy user-interface and a built-in exchange. It is specially designed for beginners, and its best feature is that it has the ability to exchange between the popularly growing cryptocurrencies. Beginners can know how to secure their bitcoins using this bitcoin. It just provides an idea to get into the crypto space. Beginners who are planning to get into this confusing market can get great support by using this wallet.
It is designed for beginners, so there are many advanced users that find it lacking in advanced features. Exodus is not an open-source wallet which is against the idea of blockchain technology and bitcoin. This can create security concerns as it is not open-source. The beginners rely on this wallet to make sure that there are no security concerns about this wallet.
Ledger Nano X
This is a ledger by a French company and is the second-generation hardware wallet. The Ledger is the French company that has been into cryptocurrency for a great number of years. Its first product is Ledger Nano X and is the first hardware wallet into the cryptocurrency market. It is the same as a USB drive that gets connected to your device through Bluetooth or USB.
The users can easily connect the wallet to the Android and iOS devices, and there's no need to connect it to the computer. The best feature of this wallet is that it supports over 1500 cryptocurrencies, and the list grows more and more in the coming years.
This device is cold storage hardware, but the Ledger team created their own Ledger live software that offers users the interface according to their devices. This wallet has been the most popular wallet in the cryptocurrency world. It provides the users the ability to add new wallets for their cryptocurrencies and manage their accounts. It has the best bitcoin wallet offered to users as it has the feature to support a great number of cryptocurrencies.