Bitcoin has recommended itself as one of the best investment opportunities for almost twenty years. Being aware of all possible future rises and falls, users start choosing a wallet for the best digital coin ever. The main task of Bitcoin wallets is to keep a secret data (also known as a private key or seed) that is used for signing transactions. Users get a mathematical proof that the owner has made these transactions from his wallet. One can keep the private key on any device and online wallets are helpful in this matter. Here is the list of the best Bitcoin wallets to choose in 2020.
The oldest Bitcoin wallet – Blockchain
The Blockchain wallet has already provided more than 44 million wallets with the total amount of 200 billion dollars. What it represents is an online wallet where users can buy and sell cryptocurrency directly through the platform in 36 countries. Another advantage is a small fee in this area supporting such cryptocurrencies as Bitcoin, Bitcoin Cash and Ethereum. The service provides full control to its users, backup of the funds and the protection against unauthorized access. The last one includes email verification and two-factor authentication. The Blockchain wallet is available in 25 languages on such devices as iOS, Android and Web and allows 22 currencies.
Coinbase is following on the heels
The Coinbase wallet is competing with Blockchain; it is close to the top wallet. Users can buy and sell popular digital currencies watching them in one place. The service advises to use the additional protection and store funds in the safe with the delayed cashout.
Users can recharge the wallet only with the cryptocurrency. For those who owe no cryptocurrency, it is necessary to use exchanges for the Coinbase wallet. The commission for operations is quite low (2,5%) and if they are done between two Coinbase users, then it is free of charge. USA citizens can connect the service to their bank accounts and get an option of immediate exchange from cryptocurrency to fiat in the soft system.
Trezor – a mini computer to save coins offline
Trezor does not provide a complete platform for crypto trading operations; the main feature of it is to provide a safe place for storing Bitcoins. What they propose is to go offline asserting that the information stored online can be copied and stolen. Trezor is a usual device that users plug into computers, tablets or phones to access their coins. The security measures include firmware verification, ultrasound hardware seal, protected key operations and secure update procedure. The Trezor wallet has an easy-to-use interface allowing to control funds, manage the balance and initiate transfers with ease.
Electrum encrypts the private keys
Specifics in the functioning of the Electrum wallet is that the private keys are encrypted and never leave your computer. It causes another advantage of a quick access and users are able to get started immediately. Moreover, Electrum is fast, because it uses servers that index the Bitcoin blockchain. The service also supports a recovery process and provides an option of ‘cold storage’ keeping private keys offline. In case of forgetting, user’s funds can be recovered from a secret phase. In addition, Electrum enables its followers to split the permission to spend coins between several wallets.
What really differs Robinhood from other wallets is the cost: there are no fees for buying or selling Bitcoins. Robinhood started its existence as a free stock trading platform and with time and financial support the last one has expanded its options. Now it is both an exchange and a wallet that makes operating simplier being performed in one place. The main values of the Robinhood wallet are exceptionally engineered systems, simplicity and individual participation in equity markets.
Although the most common and fearful idea of crypto investment is that it is extremely risky, crypto enthusiasts are sure the risk disappears knowing what they are doing. The next step is to choose a wallet meeting one’s needs and hit the jackpot.