2018’s Best Bitcoin Wallets – Which are the Best Wallets & Why? Prior to investing in any kind of cryptocurrency, investors need to learn how to safely store and backup coins
If investing in several forms of cryptocurrency, users will always benefit most from a hardware or software wallet which supports multiple digital assets
Hardware wallets are considered to be the best Bitcoin wallets for security conscious investors
In 2017, Fortune Magazine found that 4 million Bitcoin had been lost to the ether of the Internet since 2008. – (Rather than having been hacked or stolen, these are Bitcoin which are now lost forever.)
As for how lost Bitcoin’s happen, nine times out of ten, a lost Bitcoin wallet address and/or basic user unfamiliarity with the cryptocurrency is to blame. This being the case, if you own Bitcoin or any other kind of cryptocurrency, it is imperative to never take your coin security for granted.
How to Choose the Best Bitcoin Wallet for Your Needs
Are you looking for the best Bitcoin wallet app to help you store your coins safely?
Given rising coin prices, safe Bitcoin and cryptocurrency storage is more integral than ever in 2018. This is why we’ve compiled the ultimate rundown of which wallets and apps you should be using to keep coins as safe as possible.
Electrum – The Best Bitcoin Wallet for New Cryptocurrency Users
If you are completely new to the cryptocurrency arena, you likely find even basic cryptocurrency concepts confusing.
Thankfully, desktop-based cryptocurrency wallet Electrum can make securing coins altogether easy.
Electrum was launched in 2011 by Thomas Voegtlin and offers support for several popular cryptocurrency tokens
Electrum is a client wallet. This means that the application doesn’t participate in updating entire cryptocurrency blockchains. This saves disk space while still locally storing users Bitcoin wallet address and private keys
Local storage of private keys and Bitcoin wallet address details prevents Electrum users from having to trust data to third-party wallet applications
Electrum can be installed on pluggable USB devices in order to create a DIY hardware wallet
Electrum can be easily backed up in the same way as a high-end hardware wallet, by generating a 12-24 word unique wallet passphrase
No Mobile device Support
Because Electrum can be easily installed and backed up, it is easily the best Bitcoin wallet on the market for new cryptocurrency investors. What users need to be aware of, though, is that at present, Electrum cannot be used on mobile devices like smartphones.