Security and storage are two important factors that an online Bitcoin wallet needs. Daily transactions using bitcoins should be done using a reputable platform to avoid hacking and Bitcoin stealing, which is popular to hackers nowadays. Not just that, but bitcoin accounts may be link to your own credit card information that is also the target of hackers.
With the uptrend and popularity of Bitcoin comes the introduction of various platform and storages that you can choose from. However, with so many brands to choose from, one might be confused as to what kinds of wallets are recommendable for you to safely buy bitcoins or in other words, transact with them.
In addition to this are the calculator, charts, and rate that are included in the wallet necessary for owing a Btc. These tools are useful for the everyday online Bitcoin mining.
But before you secure your bitcoins to an online bitcoin wallet, here are a few things to consider when looking for the best Bitcoin wallets to use.
- Compatibility of the platform chosen
There are various wallet that can be opened using a specific type of platform only. Choosing for an online Bitcoin wallet is as important as choosing for a bank account, most especially because a great amount of money is involved. With that, you should know that the chosen platform can be operated or use with your own desired platform.
- Features a backup system
Like most of our mobile phones nowadays, it is equally important to know if the chosen wallet has a good back up system. You’ll never know when you’ll be needing your Btc transaction history most especially if undesirable things happen.
- Using MultiSig for accounts
Though only high-end and mostly big systems offers Multisig, it should also be included in your checklist if having a secure online Bitcoin is your topmost priority. This adds up another layer of protection to your accounts by adding different private keys that is being encrypted even for a single Bitcoin address.
- Secure with privacy features
Most of the time, online Bitcoin transactions are very visible to the public, even the account balance that is linked to the btc public address. With that, you should consider wallets that offers a TOR network or anonymity network for additional security.
Blockchain.info, from the word itself, has the capability for Blockchain explorer service. And is famous for it. However, they also offer secured Btc storage or wallet that is conveniently available online or by “pocket-money” and privately or offline using private keys.
They allow the users to choose from being anonymous with the TOR network that comes with the wallet service. This private keys are secured since the storage are from another third-party server.
2. MultiBit The Bitcoin Wallet for Your Desktop
This is very compatible to those who are looking for a lightweight (30MB) but also proves a secured online Bitcoin storage. People who are conscious for sercurity usually uses Multibit with a physical wallet or what we call Keepkey. However, it can still be used as it is.
MultiBit is an open-source client that enables the users to have a direct connection to the Bitcoin network. Also, users has the ability to back-up their wallet by the use of private keys or with the use of TOR. Though it doesn’t have a multisig capability, it is still powerfully secure and lightweight.
Mycelium or what is popularly known as the default wallet, boasts its system having the strongest security level for various data. This is partnered with TOR network and backed-up for safety. Additional to this is the pin protection that allows mobile users to access their accounts. Though they do not have integrated multisig in the system, users are assured of a decent protection.
If you prefer optimum protection for your Bitcoin wallet, Armory is for you. Usually being used by advanced users, Armory is known for having the most secure wallet for online Bitcoin users. This is completed with multisig, TOR, and provides private keys for offline accessing. Topping this advanced security with private key for the wallets that disallows hackers to access them.
Another wallet that is famous for security, Xapo boasts their cold storage and multisig technology in their system. With this, even credit cards that are linked to their Bitcoin accounts are safe from frequent hackers that will surely access the servers that are kept from an unknown area.
If you are a mobile geek, Wirex is recommendable. Wirex provides user experience with its mobile access and online for desktop users. But Wirex being accessible doesn’t mean it isn’t secured for Bitcoin transaction. This is proven by the multi-sig feature on wallet and also does the 2FA. Thus hacking will be hard.
Coinbase is popular with accessible mobile wallet and web wallet that is being used by most of the users around the world. They give their users to customize or manage the private keys given to them while integrating multisig in their wallets. However, this is not for people who wanted to rely strongly on the additional security by the wallet. But with Coinbase, transactions becomes easier. Thus, this should only be used if small transactions are involved.
Available to almost all platforms like desktop, android, iOs, windows phone, Linux, and more, Copay is popularly known for its security with the use of Multisig in their wallet. This enables a shared account so that the transaction is confirmed by various people. Thus, one will never have to worry about having susceptible transactions.
Electrum proves to be fast and lightweight at the same time, perfect even for old or slow computing hardware. However, users are not compromised by it being lightweight as it still supports an open-source multisig wallet with TOR, giving privacy and security to the users. It even allows private keys to be kept offline and is even available for mobile phones.
10. Ledger wallet
Known as the most secured wallet is having a physical one. Ledger wallet offers a physical flash drive size wallet that should be plugged-in the computer to validate a transaction in a software wallet. Having ledger enables users to be responsible on their own private keys and back-ups, thus minimizes the involvement of other system.
Having said that, we hope that this list gives you an idea in choosing for a perfect wallet for your everyday online Bitcoin transactions that are secure, convenient, and offers storage.