Home GuidesBitcoin

Follow us on Twitter or join our Telegram

Bitcoin Wallets for Beginners

Bitcoin wallets for beginners

Bitcoin is far from traditional currency, so keeping it safe is different as well. That’s why you need a Bitcoin wallet.

One of the main ideas behind Bitcoin is empowering people to be their own banks. Since Bitcoin is not a physical thing, it can be stored almost anywhere (including physical things). There are several types of Bitcoin wallets that vary in terms of safety and security, convenience, accessibility, ease of use, device type and so on.

Since owning Bitcoin wallet private key is the only way to claim and prove ownership of your bitcoins, Bitcoin wallets and security go hand in hand.

Bitcoin wallet types

Online (“hot”) wallets, where the private key is stored online or on devices connected to the internet – e.g., on cryptocurrency exchanges or other websites, computers, tablets, or smartphones.

Offline (“cold”) wallets, where the private key is stored on paper or offline hardware like a password-protected USB, computer, or simply in one’s head (when you memorize a special phrase to access your funds). Besides, there are special encrypted cold storage hardware devices like Ledger or Trezor.

Bitcoin wallet for beginners ledger nano
Ledger Nano S hardware wallet. Source: unboxgo.com

Online, or “hot”, wallets are less secure due to the threat of hacking. Website wallets are especially vulnerable as you must reveal your private key to a third party. But hot wallets are more convenient for daily use.

It’s thus recommended to use both types of wallets – hot wallets to hold small amounts of bitcoin for daily transactions, and cold, or offline, wallets for storing larger sums. In any case, you can have as many wallets as you want.

Bitcoin Wallets for Beginners 101

Bitcoin wallets for beginners

Here are several easy to use Bitcoin wallets that you can download, install, and use immediately.

Hot wallets

ElectrumDesktop and mobileWindows, Linux, Mac OS, AndroidPopular Bitcoin wallet
ExodusDesktopWindows, Linux, Mac OSUser-friendly
Jaxx walletMobile and webAndroid, iOS, ChromeMulticurrency wallet
CoinbaseWeb and mobileAndroid, iOSCryptocurrency exchange
Wasabi walletDesktopWindows, Linux, Mac OSPrivacy-oriented
Blockchain.infoMobile and webAndroid, iOSSuper easy to use
Bitcoin walletMobileAndroid, iOSLet's you see local Bitcoin merchants
BinanceWeb and mobileAndroid, iOSCryptocurrency exchange
Samourai walletMobileAndroidPrivacy-oriented
ArmoryDesktopWindows, Linux, Mac OS, RaspberriPiMulti-signature and cold storage options

Cold wallets

WalletPrice RangeFeatures
Paper walletFreeCan be stored both offline and online
Ledger$50-$200Enhanced security, screen
BitLOX$98-$198Extreme security, privacy-oriented

To learn how to create a Bitcoin wallet, you can follow our guide. Hopefully, these explanations of Bitcoin wallets for beginners are sure to help you take your first step into using the cryptocurrency.

Read more how to choose a Bitcoin wallet here.

More Guides

How To Buy Bitcoin in the United States?

If you live in the United States, you are lucky to enjoy one of the best-developed Bitcoin ecosystems in the world. As a matter of fact, you can boast of the highest concentration of Bitcoin ATM’s, service providers, and retailers who accept it...

Read more

What is Bitcoin Lightning Network?

Bitcoin Lightning Network is a second-layer solution that uses payment channels in order to settle transactions quickly without having to wait for block confirmations.

Read more

Will Bitcoin Ever Be Stable?

Although Bitcoin has a $60 billion market cap at the moment, it is still nothing when compared with huge global currency markets. Until the BTC market cap starts to grow into the trillions, it is highly unlikely that it will be stable enough to...

Read more

A Beginner's Guide to Bitcoin ETFs

A new way of trading and investing in crypto technology, Bitcoin ETFs made headlines in 2018. Proponents of ETFs describe them as tools for driving Bitcoin adoption and a shortcut to introducing investors to the full potential of cryptos.

Read more

Bitcoin History

Public Bitcoin history begins on 18 August 2008, when the domain name bitcoin.org was registered. Later that year on 31 October, a link to a paper authored by mysterious Satoshi Nakamoto titled “Bitcoin: A Peer-to-Peer Electronic Cash System”...

Read more

Countries Where Bitcoin Is Banned or Legal In 2021

When preparing to buy Bitcoin, one of your first steps should be to find out whether it is legal in your country or not. If you already know the state of your own country but are curious for the rest of them, read on! Bitcoin is not just legal or...

Read more