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7 Best Bitcoin wallets to choose from in 2020 + Best wallet tips

Republished by Plato

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Some of our posts may have affiliate links including this one. That means if you make a purchase I may get a commission (at no extra cost for you). To find out more about it read our Disclosure page

It is hard to avoid the phenomenon that is Bitcoin. This new technology and cryptocurrency is changing sector after sector.

Bitcoin is standing tall and strong, no matter how many times certain people like Warren Buffet or Jamie Dimon calls it worthless or a fraud. Here it is, still strong.

That was what attracted me a lot to this crypto space and Bitcoin. So if you are here after investing in Bitcoin, or if you are planning to buy Bitcoin and now you are researching what the best Bitcoin wallets are then welcome.

I will give you my thoughts on what the best wallets for Bitcoin are right now in 2020. I have used several different wallets for my BTC. So I am sharing my thought on my preferred wallets to use for Bitcoin.

I’ve also discussed best wallet alternatives for BTC with some friends and checked on Reddit/Bitcoin on what their favourites are.

7 of the best wallets for Bitcoin in 2020

1 ) Ledger Nano X (hardware wallet)

Ledger Nano X

The Ledger Nano X is one of the most popular Bitcoin wallets around. It is a hardware wallet created for maximum security, but it also comes with added benefits of the modern Ledger Live application.

With Ledger Live you get a complete overlook of your Bitcoin holdings in a nice modern look. You can track the value of your portfolio and easily send and receive new transactions.

The Ledger Nano X is the upgraded version launched after the previous success of the Ledger Nano S. It comes with added Bluetooth which makes it possible to use it with a mobile device. Added storage space, now you can download and install over 100 wallet apps to your device.

And of course some added hardware and software updates to make it even more secure.

Ledger Nano X and S are compatible with macOS, Windows, Linux, iOS and Android.

The Ledger devices has one of the best supports for cryptos by all wallets, find out the full asset support list here.

Pros

  • One of the most secure hardware wallets on the market
  • Easy to Ledger Live software application
  • One of the supports for coins and tokens (1200+)
  • Integrated with many other 3rd party wallet applications
  • Decent price for the value it brings
  • Easy to use and reliable
Cons

  • It’s not cheap but it is still a lot cheaper than the Trezor Model T
  • Not very mobile-centric, you probably don’t want to travel with a hardware wallet
  • Not fully open-source yet, OS is but not firmware

2 ) Trezor Model T (hardware wallet)

Trezor Model T

Here is the latest hardware wallet from SatoshiLabs, the Trezor Model T.

It comes with a touchscreen (no more buttons) and now you enter your PIN, passphrase and recovery phrase all from the device.

Previously it was all done in the online web wallet.

The Trezor Model T comes with upgraded firmware so it’s faster and much better support for cryptocurrencies than the Trezor One.

The Trezor devices are compatible with Windows, macOS, Linux, Android, and iOS.

Pros

  • Very secure and reliable hardware wallet
  • Great support for most popular coins and tokens (1000+)
  • Open-source firmware (compared to only open-source OS for Ledger)
  • Nice UX and it’s easy to use, with a useful large touchscreen
Cons

  • Quite expensive, and even more so than the Ledger Nano X- $60 more
  • Not as good cryptocurrency support as the Ledger devices

3 ) Ledger Nano S (hardware wallet)

Ledger Nano S an excellent choice for storing your Litecoins

The Ledger Nano S was the first hardware wallet produced by this French cryptocurrency team. And it still today remains one of the most popular Bitcoin wallets around, and it is highly popular.

The main reason why some like I, have upgraded to a Ledger Nano X is because of the added storage space. I am used to using my desktop so that’s fine. But others might enjoy Bluetooth which also comes for the Ledger Nano X.

But other than that this Ledger Nano S is still one of the most secure wallets you could pick for your BTCs.

The Ledger devices has one of the best supports for cryptos by all wallets, find out the full asset support list here.

Ledger Nano X and S are compatible with macOS, Windows, Linux, iOS and Android.

Pros

  • Very secure and reliable hardware wallet
  • Great support for most popular coins and tokens (1000+)
  • Open-source firmware (compared to only open-source OS for Ledger)
  • Small and nimble wallet
  • Affordable price
Cons

  • Not as good support for coins and tokens like the Ledgers
  • A bit small screen to read
  • Feels a bit plasticky and not so solid

4 ) Trezor One (hardware wallet)

Trezor wallet cryptocurrency

The Trezor One is the original hardware wallet, and one of the most popular choices together with the Ledger Nano S. The team behind the Trezor wallets is SatoshiLabs, famous for the work in the cryptocurrency space.

It comes with two buttons to operate it and a screen. It is quite small in its size so that’s both positive as it’s small and nimble but the screen can be quite small I’ve found it.

The Trezor devices are compatible with Windows, macOS, Linux, Android, and iOS. And it supports Bitcoin but most popular cryptocurrencies.

Pros

  • Very reliable and secure hardware wallet
  • Fairly cheap now since the new Ledger Nano X was released
  • Easy to Ledger Live software application
  • Integrated with many other 3rd party wallet applications
  • Easy to use
Cons

  • You can download and install maximum 4-5 apps on it at one time
  • No mobile support (only desktop)

5 ) Edge (mobile wallet)

Edge mobile iOS wallet

Right here we got a new favourite mobile Bitcoin wallet of mine, the Edge wallet.

Firstly this is a very slick mobile wallet that comes with all the features one could look for in a modern cryptocurrency wallet.

This multicurrency wallet has support for iOS and Android. It’s a very easy to use and intuitive wallet.

You can follow the value of your Bitcoins, you can trade and buy more Bitcoins directly from the wallet, etc.

And it is open-source which adds another comfort knowing the source code has been tested and can be verified by anyone.

With Edge you can have all your cryptos under one roof. Log in using PIN or fingerprint login.

Check out this video with the CEO of Edge wallet where he talks about Edge and Bitcoin.

Pros

  • Very modern-looking and easy to use
  • Has a built-in cryptocurrency trade feature
  • Fully open-source
  • Support Bitcoin but many other popular cryptocurrencies
  • Non-custodial
Cons

  • Not as good cryptocurrency support as Ledger, Trezor, Atomic wallet, and others on this list
  • Mobile wallets are not as secure as hardware wallets
  • As it’s a mobile wallet it might be easier to lose it or break your phone, so make backups

6 ) BRD wallet (mobile wallet)

BRD mobile Bicoin wallet

I have put another interesting mobile BTC wallet on my list, and it is BRD wallet.

Like Edge this is a modern and extremely nice-looking Bitcoin wallet. Here you can access your Bitcoins, but tons of other cryptocurrencies too.

But you can also trade and buy more BTC right from the wallet here also.

The BRD wallet like the Edge wallet is fully open-source and free to use.

BRD is available for download to Android and iOS devices.

Pros

  • Popular modern Bitcoin mobile wallet
  • Fully open-source under MIT license
  • You can trade your cryptos and buy more directly in the app
  • Support Bitcoin but a few other popular cryptocurrencies
  • Non-custodial
Cons

  • Not as good cryptocurrency support as Ledger, Trezor, Atomic wallet, and others on this list
  • Mobile wallets are not as secure as hardware wallets
  • As it’s a mobile wallet it might be easier to lose it or break your phone, so make backups

7 ) Atomic wallet (mobile wallet – desktop wallet)

Atomic wallet for Bitcoin

This intuitive multicurrency and multi-device wallet is one of the most popular Bitcoin wallets today in 2020.

Like other popular modern crypto wallets, it comes with portfolio tracker and built-in cryptocurrency trade exchange.

With Atomic Wallet you can access your BTC here, but lots of other popular coins and tokens.

Atomic Wallet comes in a desktop or mobile app. For Windows, macOS, Linus, Android, and iOS.

Pros

  • Very popular and modern Bitcoin wallet for both desktop and mobile apps
  • You can trade your cryptos and buy more directly in the app
  • Support Bitcoin but many other cryptocurrencies too
  • Non-custodial
Cons

  • Not as secure as hardware wallets like Trezor and Ledger
  • Not open-source

How do I pick a good Bitcoin wallet?

Bitcoin wallet illustration

For me a good cryptocurrency wallet is:

  • A safe wallet – I want to own my own private keys (what are private vs public keys). And that no one else has access to it. I prefer if the code is open-source so others can inspect it. Additionally, rigorous audits and source code testing is a must
  • An easy-to-use wallet – Good UX and intuitive experience is also very important to me. I’ve worked with UX for a long time so it is close to my heart and I realise the importance of it.

Any added benefits of live cryptocurrency portfolio tracking, tax reporting, alerts, etc are all nice to have features. But not a must for me. Maybe you are different?

For me, the security of my cryptocurrencies and Bitcoins is the single most important thing.

No matter what is your most important aspects for choosing a wallet for your Bitcoins I will here present to you a list of wallets with different use cases. Some hardware wallets, some mobile wallets, web wallets, desktop wallets, etc.

Other with lots of attractive user features and a modern look. Some with top of the line security protection, etc.

All so you can easily find your new favourite BTC wallet.

If you want to learn more about how cryptocurrency wallets work then check this guide out. In short we can say that the wallets are used to access and interact with our cryptos, that are stored on the blockchain.

Meaning sending and receiving them.

Frequently asked questions about Bitcoin wallets

How do I use a Bitcoin wallet?

With your Bitcoin wallet you can send and receive BTCs. You use your Bitcoin address from your wallet to request payments to, or send to yourself from another Bitcoin wallet.

The same goes for sending your Bitcoins to someone else’s wallet, you will then use their BTC address to send to.Bitcoin wallet illustration

Is there a minimum amount I need to buy and store?

There is no minimum amount to hold or send usually. But there are fees for sending Bitcoins.

So if you are sending an amount lower than the fee that might not always be possible. Or it also doesn’t make sense either to do.

Some wallets have set their own minimum thresholds so check the guides at each wallet website for more information.

What’s the difference between private and public keys?

The private keys are your secret codes to unlock your wallet. These should never be shared with others. Anyone with access to your private keys can access and use your BTCs stored in that wallet.

The public key is the public information for your cryptocurrency wallet. You generate new BTC addresses from your public keys.

What are Bitcoin addresses?

Bitcoin addresses (and cryptocurrency addresses) are what you send BTCs to. These belong to its respective cryptocurrency wallet.

Bitcoin addresses starts on either; 1, 3 or bc1 and its a long string of 26-35 alphanumeric characters

How do I fund my Bitcoin wallet?

You fund your BTC wallet by sending coins to it. Or when someone else sends their coins to your wallet. You can track transactions and wallets using a Bitcoin block explorer.

Examples of Bitcoin block explorers are; Blockchain.com, BTC.com and Blockcypher

How do I decide which BTC wallet to choose?

I have picked a wallet with the strongest security. But for you, it depends on what you are looking for. I would always recommend going for the safest option – a hardware wallet from Ledger or Trezor!

Otherwise, is mobile important to you? Do you want to trade within the app? Are there any other features that you want? Those are things to consider when choosing a good Bitcoin wallet for yourself!

Conclusion

I hope that this guide to some of the best Bitcoin wallets was insightful. And that you by now have a better idea of how bitcoin wallets work. But also what are some of the most popular choices of BTC wallets available.

However, you can pick whichever wallet you want. But I do recommend a secure hardware wallet. These are the most secure wallets for your cryptos. For me, that’s a choice I’ve never regret making.

These are some of the top BTC wallet choices. There are plenty more out there of course.

I’ve specifically looked at wallets that are non-custodial, preferably open-source, have a portfolio tracking tool built-in and of course are secure and then also user-friendly.

Find other Bitcoin guides:

  1. How to buy BTC with a bank account
  2. Where to spend Bitcoin list
  3. How to cash out your BTCs
  4. Best sites to use for purchasing BTC with PayPal
  5. How to buy BTC with cash

Source: https://gocryptowise.com/blog/best-bitcoin-wallets/

Blockchain

All Eyes on Ethereum

Republished by Plato

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One Ether now costs more than US$3000. Did you ever think you’d see the day?

You gotta hand it to the crypto markets: in some ways they’re comically predictable. A month ago, Ethereum was everyone’s favourite whipping boy, a bloated, expensive under-achiever that couldn’t even double its 2017 all-time high. Lol what a weakling.

And with competitors like Cosmos, Solana, Polygon and Polkadot nipping at its heels, perhaps this was the beginning of the end for the network that gave us smart contracts, ICOs, ERC-20 tokens, DeFi, yield farming, NFTs and, to be honest, the entire idea that blockchain was a multi-functional and era-shaping technological breakthrough that you ignored at your peril.

How things have changed. On Monday Ethereum blasted through the US$3000 mark like it was barely there, throwing on an extra 15% while it was at it. The network is now worth a shade under US$400 billion, putting it on par with Mastercard and Walmart, and officially making Vitalik Buterin, the 27-year-old prodigy who created Ethereum, a bona fide billionaire. So, is this how the Flippening begins?

Network to net worth

Due to the speed with which things move in crypto, we tend to underestimate some of the metrics that actually speak to a technology’s success. The new shiny thing is almost always more exciting than some dusty old contraption built in the positively prehistoric year of 2015. Did they even have electricity back then?

But Ethereum stands out from almost all other blockchains in that it’s already being used, at scale, by millions of people and companies. While that may seem like Business 101 – get more customers, be more successful – when it comes to blockchain usage is a particularly powerful factor because of the way it harnesses network effects to improve the value of the system itself. Use it more and the whole system becomes more valuable, both financially and practically, for the network’s users, miners, stakers, investors and developers. Oh, and Vitalik, of course.

How far we’ve come

Ethereum’s issue has always been its inability to scale. If you can’t handle hundreds or even thousands of transactions a second, then you’re not really fit for purpose as a global computer. The result for Ethereum has been a year of increasing network congestion and brutally high transaction fees. Yet the fact that so much continues to be built and transacted on Ethereum tells you exactly how strong these network effects already are.

There’s also an increasing focus on three major changes to the Ethereum network due to arrive before the end of the year:

  • EIP-1559: Lifts one of DeFi’s major innovations in the field of ‘tokenomics’ by implementing a token burn system on every transaction. You use the Ethereum network, you burn some ETH, never to be seen again.
  • Optimism: due for a full launch in July, the Optimism sidechain should significantly improve the speed of Ethereum by leveraging largely incomprehensible processes such as ZK-Rollups and Sharding. It’s already being used by the Synthetix protocol, where it has saved users over $10 million dollars in transaction fees.
  • Ethereum 2.0: This is the big one, Ethereum’s transition from Proof-of-Work to Proof-of-Stake. It’s been coming for years, but the importance of the change cannot be overstated. Already more than 4 million Ethereum are being staked on the Ethereum 2.0 contract, offering an insight into how much ETH might fall out of circulation once the entire thing goes live (potentially in November).

In short, Ethereum is just getting started. The price might seem gaspingly high right now, but remember that Ethereum isn’t trying to be Walmart or Mastercard. It wants to be the thing that Walmart and Mastercard are built on – and that’s a prospect worth having a stake in.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.coinjar.com/all-eyes-on-ethereum/

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Blockchain

CARBON: A perfect avenue for showcasing talent

Republished by Plato

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Creative professionals sometimes find themselves figuring out where to showcase their creations and profit from them. 

It’s a tough situation to be in. But with CARBON, the dilemma is lessened. 

CARBON creates an avenue that gives creators both a place to show off their talents and a chance to earn money.

CARBON features an ecosystem of a global scale that integrates open finance, fashion, art, music, and non-fungible tokens (NFTs).

One of its objectives is to enable a community that can inspire, support, and reward professionals.

What the CARBON marketplace looks like

As what an ideal marketplace should be, CARBON has a lot to offer, helping emerging brands and artists have a shot even at the highest levels of competition they have to deal with.

Items related to fashion, art pieces, music, and digital assets such as NFTs are offered in the CARBON marketplace. A dedicated team will carefully select these products.

The market will also see exclusive collaborations featuring various artists and brands for physical commodities and digital items that will be dropped on a weekly basis.

As for its audience, they should prepare for a diverse experience brought by a market evolving into a global ecosystem.

About CARBON

CARBON was founded by Chad Pickard who also acts as its Chief Executive Officer (CEO). It is an open finance wallet and super ecosystem that is built for the whole world of fashion, art, music, and culture while also integrating digital assets through NFT offerings.

It has its native token, the $GEMS, and its wallet integrates Neobank functions like the financial technology company Revolut and a non-custodial smart wallet for decentralized finance (DeFi) and cryptocurrencies.

This integration allows users to hold fiat (government-backed) and digital currencies as well as NFTs in a single platform.

The wallet is linked to the market, giving users the ability to directly select items that they desire.

CARBON doesn’t just work as a marketplace where purchases can be made, but also as an avenue where professional creators get to showcase their talents and inspire others to promote their own. It provides them with a winning environment.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/bitcoin/carbon-a-perfect-avenue-for-showcasing-talent/

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Blockchain

How Tokenplace can help crypto traders get the best buy and sell prices

Republished by Plato

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Any seasoned crypto trader knows that the price of a digital currency can vary across different exchanges worldwide.

Thus, one of the basic strategies for investing in digital currencies is to scout for the best buy or sell price and that’s where Tokenplace comes in.

Access to different crypto exchanges via one platform

To take full advantage of the price variance across exchanges, some traders often resort to opening accounts on different platforms. But Tokenplace eliminates this need because the platform allows one to access different exchanges worldwide.

This means that a user will only need his Tokenplace account and password to gain access to the entire crypto market. This is a lot simpler compared to having to main multiple accounts and passwords for other exchanges for different trading pairs.

Tokenplace is basically an online trading platform and exchange aggregator. With its automated order-splitting, orders are automatically broken up to ensure that traders get the best price for every coin they want to trade.

Easy to use and features-packed trading terminal

Tokenplace is also very appealing to newer investors because it is very easy to use. For instance, users will only need to access a single window for their deposits, withdrawals, trading, and exchanging.

The platform can be accessed from both desktop and mobile devices. Tokenplace’s onboarding and one-time registration process are also one of the quickest in the industry.

Tokenplace uses advanced algorithms for its multi-exchange order splitting feature. With this high-tech tool, users can get the best buy and sell price every time they trade.

Website: https://tokenplace.com/
Twitter: https://twitter.com/TokenplaceTOK
LinkedIn: https://www.linkedin.com/company/tokenplace

IMPORTANT NOTE: This is a paid press release, which BitcoinerX has posted as part of a commercial agreement. BitcoinerX is not responsible for producing this content and does not endorse the products or services mentioned. It is the responsibility of the company posting the press release to ensure the material is credible and accurate. BitcoinerX is not responsible for any damage or loss caused to anyone who chooses to use the company, product or services mentioned in the press release. BitcoinerX does not recommend using the information in the press release to form the sole basis of investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/blockchain/how-tokenplace-can-help-crypto-traders-get-the-best-buy-and-sell-prices/

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