Hot wallets are Bitcoin wallets that run on internet-connected devices like a computer, mobile phone, or tablet. As hot wallets generate private keys on an internet connected device, these private keys can’t be considered 100% secure.
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1. Online Bitcoin Wallets (Web Wallets)
Web wallets store your private keys online, where they are encrypted with a user-selected password. Although they offer the lowest level of security, online bitcoin wallets have the advantage of being accessible from any internet-connected device.
GreenAddress
GreenAddress is a multi-signature Bitcoin wallet available on the web, desktop, Android, and iOS. GreenAddress is compatible with hardware wallets like TREZOR, Ledger Nano, and the HW.1.
“Multi-signature” in this context means that the site requires a manual confirmation from you for your coins to be moved; this greatly improves security.
2. Android Bitcoin Wallets
There is a large selection of Android wallets. Since Bitcoin wallets were originally banned by Apple, developers spent much of their time developing for Android.
Samourai Wallet
Samourai is 100% the best available Android wallet. It has the most features, the best privacy and its developers are constantly working to add the latest Bitcoin features to the wallet. Samourai Wallet has been around for more than 3 years and its code is fully open source.
Mycelium
Mycelium is the most popular Bitcoin wallet on Android. It’s very easy to use for sending and receiving payments. Backing up your wallet is also simple, since Mycelium makes it very clear with setup and backup instructions.
Breadwallet
The great iPhone Bitcoin wallet recently released an Android wallet. It offers the user control of private keys, an easy to use interface, and passcode support.
Edge
Edge is an easy to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people new to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.
GreenBits
GreenBits is the native Android version of GreenAddress. It’s a multi-signature wallet that also supports hardware wallets like TREZOR and Ledger.
Bitcoin Wallet
Bitcoin Wallet, or “Schildbach Wallet”, was the first mobile Bitcoin wallet. Bitcoin Wallet is more secure than most mobile Bitcoin wallets, because it connects directly to the Bitcoin network. Bitcoin Wallet has a simple interface and just the right amount of features, making it a great wallet and a great educational tool for Bitcoin beginners.
3. iOS and iPhone Bitcoin Wallets
Apple banned Bitcoin wallets from the App Store in February 2014, but reversed its decision a few months later. Luckily, there are now plenty of options for iOS users.
DropBit
DropBit is the most user-friendly iOS wallet available. You can send bitcoin to friends using just a phone number. Most importantly, DropBit allows you to control your own private keys.
Breadwallet
We consider breadwallet, along with Copay (below), as the best bitcoin wallet for iPhone. It’s open source and gives the user full control over their private keys. It also has a clean interface which makes the sending and receiving of bitcoins a pleasurable and super-simple process.
Edge
Edge is an easy to use Bitcoin wallet for iPhone and Android. Its familiar login feature makes using the app a breeze for people new to bitcoin. The wallet also creates automatic backups, so you don’t have to worry about the technicalities of performing manual wallet backups.
4. Desktop Wallets
Desktop wallets are downloaded and installed on your computer. If privacy is your main concern, the Bitcoin core wallet is a good option since it does not rely on third parties for data.
Electrum
Electrum is a light weight Bitcoin wallet for Mac, Linux, and Windows. Electrum was created in November 2011. The main features of Electrum are: support for hardware wallets (such as TREZOR, Ledger Nano and KeepKey), and secure Bitcoin storage using an offline computer. Electrum is a good option for both beginners and advanced users.
