hot wallet

Best Bitcoin Wallets of 2020

The best Bitcoin wallets for safe and secure storage (By LUKE CONWAY Updated Oct 25, 2020).

Since Bitcoin’s emergence it 2009 it has become the first thing people think about when the word crypto or blockchain comes up. While cryptocurrencies like Bitcoin are highly volatile, they don’t seem to go away. One Bitcoin is still worth thousands of dollars today. As cryptocurrencies like Bitcoin continue to exist or even appreciate in value, individuals may become interested in owning some, but it’s important to understand how to safely store Bitcoin.

To accommodate those looking to safely invest in Bitcoin, we have assembled a list of the best Bitcoin wallets and storage devices. Some of these wallets have more features than others, including the ability to store more cryptocurrencies than just Bitcoin, as well as added security measures. This list goes in no particular order other than having hot wallets come first, but that does not mean hot wallets are better. To learn about the differences in specific wallet types, such as hot and cold wallets, you can check below this list for detailed information.

For now, you can think of hot wallets as a less secure way to make transactions quickly and cold wallets as a more secure way to store for longer terms, though we do recommend that you understand these concepts entirely before choosing a wallet, as safe storage is key.

Best Bitcoin Wallets of 2020

• Exodus: Best Hot Wallet for Beginners
• Electrum: Best Hot Wallet for Advanced Users
• Mycelium: Best Hot Wallet for Mobile Users
• Ledger Nano X: Best Hardware Wallet (Cold Wallet)
• Trezor Model T: Best Hardware Wallet For a Large Number of Cryptocurrencies (Cold Wallet)
• Ledger Nano S: Best Bang For Your Buck Hardware Wallet (Cold Wallet)
  

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• Type of wallet: Hot Wallet
• Purchase cost: Free
• Compatible with hardware wallet: Trezor
• Incorporated exchange: Yes

Exodus is a desktop and mobile wallet with a very simple user interface and an exchange built-in. One of Exodus’s most popular features is the ability to swap between a growing number of cryptocurrencies. Exodus currently allows for swaps between over 100 different cryptocurrencies.

With its simplicity, this wallet is great for beginners just getting into the crypto space. It also has great support, which is an essential feature for beginners getting into what many would consider a confusing market.

While it is great for beginners, more advanced users may find it lacking in some features. First, Exodus is a closed source wallet. This goes against the ethos of the idea of Bitcoin and blockchain and can create some security concerns as its code is not open for everyone to see. Instead, users rely on the Exodus team to ensure there are no holes in the security of its wallet.

Exodus has an option to set custom fees in addition to automatically setting a fee that ensures the transaction completes quickly.

Exodus Wallet

Exodus is a well-established software wallet that allows users to store and exchange cryptocurrency assets. Exodus is available on desktop and mobile, however, is it safe to use? Software wallets have 1 major drawback, so how will this one fare against its competitors?

Check out this Exodus review to find out.

Disclaimer. This is to be used for information purposes only. None of its content should be treated as financial or investment advice. While we may receive compensation from some of the products we review, you do not incur any extra charge whatsoever for using our content and clicking external links. Caution: Any form of trading involves significant risk of loss to your capital.

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