Best Bitcoin Wallet – Three Best Bitcoin Wallets in 2021

23 August 2021 | Updated: 4 November 2021

If you are looking to purchase Bitcoin tokens, you will need to find a suitable wallet to store your digital investment. Key things to consider are accessibility, security – and how trustworthy the provider behind the storage solution is.

Perhaps you already hold some Bitcoin and are looking for a better and multifunctional wallet? Either way, today we review the best Bitcoin wallets of 2021 and explain how to get started in under 10 minutes.

 

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Table of Content

     

    Best Bitcoin Wallets 2021: The Top Three

    See below the results of our research into the best Bitcoin wallets of 2021.

    • Binance: Overall Best Bitcoin Wallet
    • OKEx: Best Bitcoin Wallet for Tools and Features
    • Coinbase: Best Bitcoin Wallet for Newbies

    We offer a full review of the top Bitcoin wallets next. Still undecided, or intimidated by the idea of securing your own investment? You may also want to consider the best alternative to a Bitcoin wallet, which is a CFD platform. More on this later.

    Your capital is at risk when trading CFDs at this provider

    Best Bitcoin Wallets 2021: Comprehensive Reviews

    So, what is the best Bitcoin wallet in 2021? You will find a review of the top three next, followed by a full breakdown of how you can find a crypto storage solution for your own priorities.

    1. Binance – Overall Best Bitcoin Wallet 2021

    Binance is a crypto exchange serving over 100 million clients worldwide. This provider backs the best Bitcoin wallet of 2021 - Trust Wallet. It comes in the shape of an app - free to download for iPhone and Android. Over 30 blockchains are supported and you can access approximately 250,000 assets, including ERC20/ERC223 tokens. This storage solution allows you to take full control of your private keys as it's non-custodial and decentralized.

    Other large supported tokens, in terms of market cap, include Binance Coin, Litecoin, Ethereum, Cardano, and heaps more. This guide also found plenty of smaller crypto assets like BurgerSwap, Aave, Navcoin, Cosmos, and Monetha. This is one of the best Bitcoin wallets out there because not only can use it to safely store your digital tokens, but also to buy, sell and swap assets.

    After completing the KYC process - by sending documents to prove your ID and address - you can buy selected digital assets using a credit or debit card. Have some cryptocurrencies already? You can trade within the application- with more than 150 tokens to choose from! You can back up your Bitcoin wallet with a unique 12-word phrase created by an algorithm. If securing your own investment is a little too advanced for what you are looking for - take a look at the Binance web wallet.

    The web storage option from Binance is separate from the Trust Wallet app. Instead, you will log into the main platform, where your keys are taken care of and the majority of your investment is held in cold storage. Here, commission fees start from 0.10% per slide, which is $10 for every $1,000. The main Binance site also offers withdrawal address whitelisting and optional savings accounts for idle tokens.

    LT2 Rating

    • Subscription-free Trust Wallet with no charge to download and tons of cryptocurrencies to trade
    • Commissions from 0.1% per slide and take charge of your own private keys
    • Suitable for both newbies and experienced traders
    • Some supported crypto tokens aren't available to buy with a debit or credit card
    Crypto assets are highly speculative and volatile. Always consider the risk of loss before proceeding

    2. OKEx – Best Bitcoin Wallet for Tools and Features

    OKEx is another well-known crypto exchange on the scene. This provider offers a free mobile Bitcoin wallet with storage and over 400 crypto pairs to trade - which means it's good for those who also want to buy and sell on the go. You can track your portfolio and view NFTs from the palm of your hand and will be responsible for safeguarding your own private keys.

    In addition to Bitcoin, other supported tokens include Litecoin, Cardano, Polkadot, and many others. You will also find tons of new crypto-assets listed, such as Yield Guild Games, ECOMI, BabyDoge, Clover Finance, Smooth Love Potion, and more. OKEx also offers a web wallet. As we touched on in our previous review, this entails using the main platform as an all-out trading suite - including storage.

    You can download this product as an extension and can use it online. You can also connect this storage solution to DeFi software protocols and decentralized apps. This enables you to trade, invest, and earn. Note that the commission fee to buy and sell Bitcoin or any other cryptocurrency is 0.10% of the order value. If you are reluctant to take on the burden of securing your secret passwords and private keys, you could opt for the web version.

    In this case, OKEx will secure your BTC tokens with storage limits, bank vaults, multiple backups, SHA-256 hash, and ECDSA encryption. After completing the aforementioned KYC process, you can make a deposit using a credit or debit card via the mobile app or main platform. Alternatively, you can either use your existing Bitcoin to purchase altcoins, or you can trade it with other listed crypto assets.

    • Over 400 crypto pairs supported on the Bitcoin wallet mobile app
    • Commission to trade Bitcoin starts from a competitive 0.1%
    • Derivative products may be too advanced beginners
    Crypto assets are highly speculative and volatile. Always consider the risk of loss before proceeding

    3. Coinbase – Best Bitcoin Wallet for Newbies

    The idea of safely storing Bitcoin can be daunting for newbies, so you need an easy-to-use platform with little jargon. Coinbase offers a beginner-friendly Bitcoin wallet with not only storage - but the option to transfer more than 500 different assets. We found this to include all ERC-20 tokens such as USDC and DAI.

    Besides Bitcoin, this guide found that Coinbase also supports large-cap digital assets like Stellar, Litecoin, Ethereum, Dogecoin, Bitcoin Cash, Chainlink, and more. When you have created a Coinbase account, you can link it to the aforementioned mobile Bitcoin wallet and buy or transfer all supported cryptocurrencies. Prefer the idea of the aforementioned web wallet?

    If so, the safest form of storage is one where only you have access to your investments. With that said, the Coinbase web wallet allows you to access your portfolio with ease and will store 98% of your tokens in cold storage offline. The Coinbase web offering enables users to opt into an address whitelisting feature - meaning you have a saved list of trusted crypto addresses to withdraw to.

    The Coinbase Bitcoin web wallet uses 2FA as an extra measure to stop unauthorized access to your tokens. The commission fees aren't the cheapest on this list - with a fee of 1.49% charged to enter and exit the market. If you opt for a credit or debit card when making a deposit, you will be charged 3.99%.

    • Wide range of cryptocurrencies to choose from including Bitcoin - with institutional-grade security
    • Top-rated Bitcoin exchange serves millions of clients around the world
    • Maintain control over your private keys with the mobile wallet
    • Debit cards come with a deposit charge of 3.99%
    Crypto assets are highly speculative and volatile. Always consider the risk of loss before proceeding

    What is a Bitcoin Wallet? Brief Summary

    Of course, we use traditional banks to store paper cash. However, when buying and selling digital currencies, you must use a Bitcoin wallet to store them – or a regulated online broker, which we talk about later.

    • A Bitcoin wallet acts as proof of your holdings and, in some cases, also allows you to trade or spend your BTC tokens.
    • Some Bitcoin wallet types come with a private key that you must keep safe – this gives you access to your BTC tokens (and no one else).
    • You will usually be given a public key too so that you can receive digital tokens. This is like giving someone your bank account number – it is unique to your Bitcoin wallet and ensures the tokens go directly to your wallet.

    As we touched on, the best cryptocurrency wallets will allow you to buy, sell, and swap – as well as store BTC tokens in safety.  This saves you from being liable for the security of your private keys and digital assets. If this sounds more suitable for you – check out the review of the Bitcoin wallet alternative later in this guide.

    Checklist for Choosing the Best Bitcoin Wallet for Your Needs

    Finding the best Bitcoin wallet from hundreds of providers claiming to offer a top-rated service is no easy feat.  As such, although we have already reviewed the best Bitcoin wallets in this space, it’s also a good idea to do a bit of research yourself.

    To help you along the way, below we offer a useful checklist of what to consider when searching for the best Bitcoin wallet for you.

    Types of Bitcoin Wallets Available

    One of the most important factors when deciding on the best Bitcoin wallet for you is what type will suit your objectives and priorities.

    There are many types of crypto traders and investors, and each will need a different category of Bitcoin wallet:

    • Some people want to trade BTC tokens in the short term and may opt to do so via CFDs (Contracts for Difference).
    • Other investors might be looking to HODL, which will see them holding onto Bitcoin tokens for a long time.
    • More advanced traders may want to take on the responsibility of securing and even insuring their BTC holdings. This type of storage would be described as a ‘non-custodial wallet’.
    • Some may not be as keen to take care of their personal keys and investments, so will opt for a ‘custodial wallet’. In this instance, a third-party or broker stores the Bitcoin tokens.

    To help clear the mist of the best Bitcoin wallet type for you, check out the mini-sections outlined below.

    Desktop Wallet

    A desktop wallet will see you downloading software onto your PC or laptop. As such, this is one of the least flexible options as the chances are you won’t always have this device with you.

    Ideally, the best Bitcoin wallets will make it easy to view your portfolio, create an order or make a swap in a flash. With that said, accessing a desktop wallet isn’t always convenient – especially if you are on the move.

    Mobile App Wallet

    The best Bitcoin apps intended to be used as crypto wallets will allow you to store BTC tokens – but also make it easy to buy, swap, and sell.

    • The best Bitcoin wallets offered as mobile apps are usually free of charge to iPhone and Android users.
    • The level of security will differ with each mobile wallet – so always check what’s included prior to signing up.

    Many people find the safest Bitcoin storage route to be an end-to-end trading solution such as an app backed by a regulated broker

    Web Wallet

    Web wallets are usually custodial, which, as we mentioned, means that the provider will take care of your private keys. It is much safer to sign up with a regulated brokerage rather than a decentralized exchange. There are usually more preventative measures in place to ensure you are not a victim of financial crime.

    Regulated brokers have to adhere to a long list of strict rules ensuring a strong code of ethics and transparency for all traders and investors. Furthermore, a web wallet is often easy to access as you just need to create an account – and sign in to view your cryptocurrency portfolio.

    In addition to this, without the regulation of financial authorities, your funds are far more vulnerable to the many cryptojackers in the space. These thieves prey on unregulated crypto exchanges and could mine your investments from under your nose.

    Hardware Device Wallet

    A hardware device is the best Bitcoin wallet for advanced traders who have a firm grasp on securing digital assets. This is because you must take on the full responsibility of keeping your funds and BTC tokens safe from the aforementioned thieves.

    • You need to be prepared for software failings by carrying out regular data backups.
    • It’s important to keep your recovery phrase safe, which many people opt to split and store in separate places.
    • Some investors go one step further by engraving private keys and recovery phrases onto weatherproof metals.
    • Hardware wallets can start from $20 and as cost much as $1,500 if it is a well-known brand.

    As we mentioned, if you would prefer for another party to control your private keys, you may find a hardware wallet a little too advanced and prefer a custodial wallet.

    If you’d rather not have to worry about keys at all – choose a regulated CFD brokerage.

    Security Features to Secure Your Bitcoin Wallet

    Whilst still on the subject of choosing the best Bitcoin wallet for your needs, it’s important to talk about the safekeeping of your BTC tokens.

    See below two fundamental security measures used by the best Bitcoin wallets:

    • Device and IP Whitelisting: As we touched on briefly in our earlier reviews of the best Bitcoin wallets of 2021 – whitelisting involves creating an address book of safe withdrawal locations. On some platforms, this is a feature you must opt into. The idea of the tool is to prevent unwanted access – such as a hacker withdrawing your investment and sending it to a shady wallet.
    • 2FA /Two Factor Authentication: 2FA is a crucial security measure used by many online entities. Essentially, you will receive a one-time password via SMS (or Google) that only works for a matter of seconds. This will be used alongside a standard password to confirm it’s really you. This is just another way of preventing anyone else from gaining access to your BTC tokens.

    Whilst that is security covered, you should also think about asset diversity, regulation, and much more when searching for the best Bitcoin wallet.

    A Diverse Range of Altcoin Markets

    Although your focus may be on Bitcoin right now, you might later look to learn how to buy TRON or a newer token such as Aave. For this reason, it is important to be aware of what will be accessible to you before signing up with a provider.

    Many wallets may support digital currencies with a high market cap, such as Bitcoin and Ethereum. The reality is you may want to diversify later – so the more cryptocurrencies the wallet is compatible with – the better. As such, the best Bitcoin wallets will offer storage facilities – plus access to a diverse list of markets.

    Regulatory Standing of the Bitcoin Wallet Provider

    When researching the best Bitcoin wallets, you may have noticed that many of them are unlicensed. This means they have no one to answer to, and no standards to uphold.

    • Top regulatory bodies include the FCA, ASIC, and CySEC.
    • These authorities exist to keep the crypto space free from crime and shady brokers.
    • With a regulated brokerage – there is no need to ensure the safety of your own investments and funds.

    As such, the best Bitcoin wallets are often offered by regulated trading platforms.

    Buy, Sell, and Convert Bitcoin Under One Roof

    Are you looking for an end-to-end trading solution rather than just a place to store your BTC tokens? If so, you must ensure that the Bitcoin wallet supports the buying, selling, and converting of cryptocurrencies before you commit to one.

    For any of you still undecided on the right type of Bitcoin wallet for your needs – you will see the best alternative reviewed in full below.

    Best Alternative to a Bitcoin Wallet

    The broker we review next doesn’t allow you to buy BTC tokens on a direct basis – but is one of the best CFD trading platforms offering an alternative to a Bitcoin wallet.

    Find out why by reading our review below:

    1. AvaTrade – All-Round Best Crypto Wallet Alternative

    AvaTrade is a CFD trading platform that offers the best alternative to a Bitcoin wallet. Here, you can speculate on the rise or fall of BTC tokens without having to take ownership and thus - worry about storage. For instance, if you feel like this crypto-asset is about to fall in value - you can go short with a sell order via the broker. For those unaware, the reason this is possible is that CFDs are designed to track the price of the underlying asset - in this case, Bitcoin.

    This offers a much more flexible way to trade cryptocurrencies - as if you speculate correctly and place the right trading order - you will make gains from both rising and falling assets. Another key advantage of buying and selling Bitcoin via CFDs is that you do not need to worry about looking after the aforementioned private keys or securing anything from cryptojackers. The CFDs merely represent the real-world value of BTC tokens.

    You can also download the AvaTradeGO app free of charge. This acts like a mobile app wallet - as well as a trading platform. Most importantly, you can access the Bitcoin markets safely - as AvaTrade is regulated by ASIC and 6 other financial authorities. Aside from Bitcoin, supported cryptocurrencies include Litecoin, Ethereum, Dash, Stellar, IOTA, and more. The app is easy to navigate, making it ideal to check the performance of Bitcoin on the move. You can also link up your AvaTrade account with MT4.

    Here you can access tons of indicators, charts, and drawing tools to perform technical analysis and gain insight into market sentiment. For those unfamiliar with this trading discipline, you can head over to the broker's main site and find a plethora of educational content covering the subject. This CFD platform offers 0% commission trading with tight spreads and heaps of deposit types, such as credit/debit cards, bank transfers, and e-wallets.

    Our Rating

    • Trade Bitcoin CFDs without worrying about storage and securing BTC tokens
    • The wallet provider is regulated by tier-1 and tier-2 jurisdictions including ASIC
    • Commission free Bitcoin trading with tight spreads
    • Admin and inactivity charge after 12 full months of no trading
    71% of retail investors lose money when trading CFDs with this provider

    Best Bitcoin Storage Solution: Sign up Today in Four Simple Steps

    For any complete beginners, we have listed a four-step walkthrough to sign up for the best Bitcoin wallet.

    For many newbies, the best storage solution will often be a regulated brokerage. This way, security won’t be a concern and you can also buy, sell and swap cryptocurrencies at your leisure – under one roof.

    Step 1: Sign up With a Trusted Provider

    Head over to a regulated brokerage and create an account. Top-rated AvaTrade allows you to buy and sell Bitcoin via CFDs on a commission-free basis and also has an easy-to-use app (AvaTradeGO) so that you can check your account on the move.

    When you click sign up, a form will appear as seen below. Enter your first and last name, email address, and telephone number.

    The best Bitcoin platforms in this space will fulfill AML protocols and regulations. As such, you will also be required to upload documentation so that the broker can validate your address and ID.

    • For your address: A recent bank statement or utility bill should suffice – ensure the date, address and your name are clear to speed things up.
    • For your ID: Take a clear photo or scan of your passport or driving license – again, make sure the image and information are clear.

    The broker should confirm your new account quickly so that you can move onto the next step.

    Your capital is at risk when trading CFDs at this provider

    Step 2: Add Funds to Your New Account

    Now, you can add funds to your new account to buy and sell Bitcoin via CFDs.

    You will see a list of accepted payment methods including credit and debit cards, bank transfers, and e-wallets such as WebMoney and Neteller.

    Simply enter the amount you would like to deposit, select your preferred payment type and confirm all.

    Step 3: Search for Bitcoin

    Once your new account has been funded, you can search for Bitcoin.

    Here, we are using the search bar. You may also like to view the full list of cryptocurrencies. Once located, select BTC tokens to progress to step 4.

    Step 4: Place a Bitcoin Order

    At this stage, you can place an order to buy BTC tokens and add them to your Bitcoin wallet. Enter the amount you wish to buy (or sell to go short) and confirm all.

    AvaTrade will add Bitcoin trade to your portfolio. Note that whatever you see in your account portfolio on the main platform you can also access via the aforementioned AvaTradeGO app.

    Best Bitcoin Wallets 2021: To Conclude

    In this guide, we have talked about the different types of Bitcoin wallets, investors, and features. No two are the same and the one most suitable for you will depend on things such as where or how often you want to trade, how savvy you are when it comes to securing digital tokens, and much more.

    Seasoned Bitcoin traders might prefer to buy a hardware wallet and take responsibility for their own BTC tokens. Beginners will probably take the custodial wallet route of signing up with a regulated brokerage to act as an all-around trading solution. The best Bitcoin wallet alternative in this respect is AvaTrade.

    ASIC and multiple other bodies regulate the platform, and there is a free downloadable app called AvaTradeGo. This offering allows you to buy, sell and trade Bitcoin CFDs with 0% commission. As CFDs simply track the price of the underlying asset – you do not need to worry about storage or keeping your BTC tokens away from crooks.

     

    Eightcap - Regulated Platform With Tight Spreads

    Our Rating

    • Minimum deposit of just $250
    • 100% commission-free platform with tight spreads
    • Fee-free payments via debit/credit cards and e-wallets
    • Thousands of CFD markets including Forex, Shares, Commodities, and Cryptocurrencies
    Start your journey towards reaching all your financial goals right here.

     

    FAQs

    What is the best Bitcoin wallet?

    The best Bitcoin wallet is the Trust Wallet - which is backed by top-rated crypto exchange Binance. There are over 40 different blockchains supported on the app and more than 150 cryptocurrencies to choose from. This application is free of charge, but please note you will be entirely responsible for securing your funds and investment, as only you will have access to your private keys and there is no recovery service available. Binance also offers a web wallet option where BTC tokens are kept in cold storage. This exchange charges 0.10% commission per slide.

    What is the best Bitcoin wallet alternative?

    We compared heaps of trading sites and found online broker AvaTrade offers the best Bitcoin wallet alternative. This platform is regulated and licensed in Australia, the EU, South Africa, Japan, and others. Here you do not need to secure tokens or private keys as you will buy and sell CFDs that track the price of the underlying asset. This suits many beginners as there is no need to take ownership of anything. Furthermore, you can profit from falling markets as well as rising. Whether opting for the primary site or the AvaTradeGO app, this provider offers 0% commission to buy and sell Bitcoin CFDs. You can add funds to your account using credit/debit cards, bank transfers, or e-wallets like Neteller.

    What is a Bitcoin wallet?

    When we need to look after fiat funds, we usually use a bank account. A Bitcoin wallet is where you keep your digital currencies. These come in all shapes and sizes. Sometimes, you receive a public address comparable to a bank account number - which allows you to receive tokens. Some also see you looking after your private keys, which allows you and only you to access your BTC tokens. Others are custodial storage solutions, meaning that the provider or a third party will look after your secret keys. The easiest option for many people is to access cryptocurrencies via CFDs - to cut out the need to own or store anything. AvaTrade offers commission-free CFD trading and is regulated by multiple bodies.

    What is the safest Bitcoin wallet?

    The safest Bitcoin wallet comes in the shape of a hardware device.With that said, it's also the most complicated to secure as there are regular updates to carry out - as well as the need to keep private keys and recovery phrases safe. If you are looking for an end-to-end trading solution without worrying about the safety of your BTC tokens - look no further than a regulated brokerage like AvaTrade. This broker specializes in CFDs - so you will be trading Bitcoin tokens based on the real-world value - without owning the underlying asset.

    Can I buy and sell cryptocurrencies with a Bitcoin wallet?

    The answer depends on the Bitcoin wallet in question. Some are merely storage solutions - whereas others offer the works - allowing you to buy, sell and swap BTC tokens. AvaTrade offers an end-to-end trading solution by allowing you to buy, sell and swap tons of digital assets - both on the main platform and also via the free the AvaTradeGO app. This broker charges 0% commission to trade crypto CFDs.