We’re sure you’ve heard of Bitcoin or other cryptocurrencies.
You may also have a small or larger portfolio of crypto. That’s great, but the answer to one important question:
Where do you keep these bitcoins/scriptors?
On stock exchanges like Binance, BitBay, KuCoin, BitMEX or hosted Bitcoin wallets like Coinbase or CEX?
If the answer to this question is YES, then you are putting your own money in the form of cryptocurrencies at serious risk. Why?
These services store your private bitcoin keys under their care on your behalf. This is not a safe practice because your private bitcoin key is the only way to recover money.
So now the question is: where should you store your bitcoins/scriptors?
When choosing a wallet for Bitcoin and other cryptocurrencies you should look for the following features, regardless of whether it is an application or a hardware wallet:
- You control the private keys – the wallet in which you own and control your keys.
- You have the possibility to back up your wallet and protect it using e.g. password/PIN
- It has a large community of developers – an active development community guarantees fast security patches and reliable operation
- It is easy to use – it has an interface ready for quick and easy use.
- Compatibility – it is compatible with different operating systems.
Now that you know what to look for in your Bitcoin wallet, let’s check out our top 3 bitcoin wallets.
Ledger Nano S
Ledger Nano S is a hardware WALLET manufactured by Ledger SAS.
The device looks like a USB flash drive that can be connected to any USB port. It does not have or require a battery, because it starts only when connected to a computer (or mobile device).
The hardware is equipped with an OLED screen and two side buttons to confirm the operation (menu control and sending funds).
When you configure your Nano S as a new device, you need to set a PIN code to protect your wallet. Then make a note and save the 24-word recovery phrase (seed). This 24-word string will help you get access to your wallet at any time and on any device.
It is worth mentioning that thanks to this wallet your private keys are stored offline, so you do not have to worry about the security of your crypto.
Nano S is also the cheapest multi-currency hardware wallet ($59 with free shipping!) on which you can store large amounts of different types of cryptocurrencies. The device supports e.g:
- Bitcoin (BTC)
- XRP (XRP)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- EOS (EOS)
- Stellar (XLM)
- Litecoin (LTC)
- Tether (USDT)
- Tron (TRX)
- IOTA (MIOTA)
- Binance Coin (BNB)
- Monero (XMR)
- Dash (DASH)
- Neo (NEO)
- Ethereum Classic (ETC)
- USD Coin (USDC)
- Maker (MKR)
- Zcash (ZEC)
- Tezos (XTZ)
- Waves (WAVES)
- Dogecoin (DOGE)
- Vechain (VET)
- Bitcoin Gold (BTG)
- TrueUSD (TUSD)
- Qtum (QTUM)
- Ontology (ONT)
- OmiseGO (OMG)
- Zilliqa (ZIL)
- 0x (ZRX)
- Decred (DCR)
- Basic Attention Token (BAT)
- Lisk (LSK)
- Nano (NANO)
- NEO (NEO)
- Icon (ICX)
- Digibyte (DGB)
- Revain (R)
- Augur (REP)
- Stratis (STRAT)
- Aeternity (AE)
- Komodo (KMD)
It is worth mentioning that it is also a multi-currency portfolio in which over 700 ERC20 tokens (based on the Ethereum network) can be stored/managed.
If you are considering a cryptocurrencies wallet, Ledger Nano S will be unpretentiously the best choice.
You can buy the Ledger Nano S on the manufacturer’s website.
NOTE: never buy hardware wallets from unknown sources (especially used devices!). There is a risk that its software has been modified, which could lead to theft.
Only the purchase from the manufacturer can guarantee your security!
Trezor hardware wallet – produced by the Czech company SatoshiLabs – is one of the most popular cryptocurrenciesportfolios in the world.
It is a small device with an OLED screen, which connects via USB to a personal computer or phone. Its primary purpose is to store private keys offline and sign transactions.
The initial configuration is slightly different from that of Ledger Nano S.
The first time you connect the Trezor to your computer, it will display a nine-digit PIN code on the OLED screen. You will need to enter the same PIN code by clicking the corresponding numbers on the computer screen. This code is generated randomly each time you connect the Trezor.
After entering the code, you will be asked to write down a 24-word string of words. Be sure to write it down and keep it in a safe place, as it will allow you to regain access to your funds in case of device loss or theft.
When it comes to the operation and use of the device, any beginner should be able to cope. When you install the device, you will receive all the necessary information on how to proceed.
It is necessary to mention that Trezor is ranked 2nd in terms of the number of supported cryptocurrenciess. At the moment you will keep on it such coins as:
- BTC – Bitcoin
- BCH – Bitcoin Cash
- ETH – Ethereum
- ETC – Ethereum Classic
- NMC – Namecoin
- LTC – Litecoin
- DOGE – Dogecoin
- ZEC – Zcash
- DASH – Dash
- Stellar (XLM)
- Monero (XMR)
- NEM (XEM)
and others, including tokens based on the ERC20 standard….
The Trezor can be used with applications such as TREZOR Wallet, Mycelium and Multibit HD.
It is now available for Windows (version 7 and later), OS X (version 10.8 and later) and Linux. You can also use it with Android-based devices.
The Atomic Wallet is a multi-currency, deposit-free wallet that handles over 300 coins and chips. It is the first wallet with atomic swaps, which means that users can exchange Bitcoin, Litecoin and QTUM and other cryptocurrencies without intermediaries.
In addition, Atomic Wallet provides a built-in serial cryptoexchange service and the option to purchase XRP, BTC, LTC and ETH with a payment card.
All these functions are well prepared in one clear and comprehensive interface. You do not need to verify your identity or register. Just download your wallet for your operating system, install it and start using it. Currently Atomic Wallet runs on many operating systems such as Windows 64-bit, MacOS, Linux, Android, iOS.
Like the other wallets mentioned in this article, Atomic Wallet generates a special 24-word seed and encodes private keys in the device. If you’re going to store your cryptocurrencies in Atomic Wallet, write this word string down and keep it safe. It will only be displayed once, so don’t postpone it.
Your wallet supports private key imports so you can transfer your funds from any wallet to Atomic with just a few clicks.
Interestingly, Atomic Wallet provides an interface to custom ERC20 tokens, so anyone can add their own tokens by importing them using their contract address. This is quite a convenient option when it comes to ICO campaigns.
As for the latter, Atomic plans to release its core ERC20 token by the end of 2018, and currently runs a rewards program in which anyone can participate before the public sale.
In conclusion, the Atomic Wallet seems to be a rather unusual cryptographic project. In one place, you can manage over 300 crypto, exchange them and buy some of them using atomic substitutes, access custom tokens and participate in the rewards.
Check also our realted articles:
Bitcoin wallets for iOS and iPhone
Desktop cryptocurrencies wallets
What are smartphone wallets for cryptocurrencies?