Best Bitcoin Wallet for March 2024

• Purchase Cost: $169
• Supported Crypto: 1,000
• Hot or Cold Wallet: Cold wallet

We chose Trezor Safe 5 as the best Bitcoin wallet for security due to the device’s highly secure features and ability to protect your cryptocurrency offline. While it provides a high degree of security, it also provides a high degree of functionality.

Trezor was founded by its parent company, SatoshiLabs, in 2013 and is headquartered in Prague, Czech Republic. Trezor, a well-known Bitcoin wallet company, manufactured Trezor Safe 5, which is our choice for the best Bitcoin wallet for security. All cryptocurrency holders, whether they are investing long-term or trading short-term, should understand the risks and implications cryptocurrency poses if it is not properly protected.

Keep in mind that nothing is 100% infallible. However, the Trezor Safe 5 has high-security standards that cryptocurrency holders can appreciate. The device’s security features include a certified chip with EAL6+ security certification level, which allows users to set up PIN and passphrase protection. Users can also set up two-factor authentication and the FIDO2 Standard for user authentication. Furthermore, Trezor Safe 5 has advanced backup and recovery capabilities. Trezor Safe 5 also has a high commitment to privacy. That means users can count on their data not being stored, which could make it vulnerable to hackers. Meanwhile, users have access to coin control and Tor features.

Trezor Safe 5 costs $169, and while that may be on the high side of other Bitcoin wallets, it may be well worth the cost for its high-security features. However, security isn’t all that it does. Users also can buy, sell, and stake their crypto while keeping tabs on their crypto portfolio. There are drawbacks that should be mentioned. The company provides a webpage with FAQs, in-depth articles, and other trouble-shooting guidance. For customer-service dialog, the company offers a virtual chat. For questions that require human interaction, customers could wait up to three days to speak with a customer representative.

• Purchase Cost: $149
• Supported Crypto: 1,000
• Hot or Cold Wallet: Cold wallet

We chose Ledger Nano X as the best Bitcoin wallet for integration due to its cross-platform and connecting capabilities. Users can connect to their desktop or mobile device using USB cables and Bluetooth, providing a versatile approach to connecting to their Bitcoin wallet.

Ledger is another well-known Bitcoin wallet, which was founded in 2014 and is headquartered in Paris, France, and its Ledger Nano X Bitcoin wallet is our choice for integration. While Ledger Nano X still possesses high-security standards with its wallets, it also possesses a versatile method for connecting to desktop and mobile platforms via Bluetooth and USB while also having the capability of downloading third-party apps to fund your wallet with fiat cash.

Ledger Nano X will set prospective customers back $149 for the device, which, compared to other cold wallets, is on the high side. However, users who need a of features may find it worth the cost. For instance, Ledger Nano X users can manage their portfolio, buy, swap, and stake crypto from their devices using the Ledger Live crypto app.

The downside to Ledger Nano X is the fact that the updates only occur quarterly, compared to other wallets that update monthly or bi-monthly. Users should understand that updates are an important part of keeping a device fully optimized by fixing any issues that may hinder functionality, and users who are not comfortable with quarterly updates may need to reconsider. In addition, Ledger Nano X does not enhance its security with a KYC process. Many users may not care, but a KYC process can help keep bad actors out of your wallet.

• Purchase Cost: Free
• Supported Crypto: 5,500
• Hot or Cold Wallet: Hot

We chose the Coinbase wallet as the best wallet for beginners who want to conveniently store and access their cryptocurrency. While the Coinbase wallet is a separate application from the main Coinbase exchange, it is still managed and operated by the same company, allowing beginning crypto investors and traders to easily integrate their Coinbase wallet into their Coinbase account.

Coinbase was founded in 2012 and is headquartered in San Francisco, California. Coinbase, one of the largest crypto exchanges in the world, developed the Coinbase wallet, and due to its ease of use, it is our choice for beginners to store their cryptocurrency in a convenient but safe manner. It is important to note that Coinbase Wallet is considered a separate product from the exchange and that beginning crypto investors and traders do not need a Coinbase exchange account to use the wallet.

Beginning crypto enthusiasts can download the Coinbase Wallet for free from the App Store, Google Play, Chrome Web Store, or through the Coinbase website. While a cold wallet will always reign as the best method to secure your cryptocurrency, the Coinbase Wallet has a solid infrastructure in place to keep your digital assets secure. The wallet comes with a password capability, biometrics, and security locks while also being a self-custody wallet, which means that it is user-controlled and that Coinbase cannot access your wallet without your seed phrase. Coinbase also routinely updates its wallet to ensure it is fully optimized.

Beginning users, however, should note that Coinbase Wallet is downloadable software intended for use on the web or on a mobile platform. It cannot be used simultaneously with a hardware security device to form a hot and cold duo. However, users can transfer their crypto to an external hardware security device from the regular exchange. Another consideration is that its open-source code is not fully open, meaning that its infrastructure is not routinely tested by peers, third-party agencies, or users trying to test its code. While Coinbase provides its users with email and live chat to answer questions, users who need a human representative need to request a call, which can take an indefinite amount of time to schedule. 

• Purchase Cost: Free
• Supported Crypto: Bitcoin only
• Hot or Cold Wallet: Cold

We chose Electrum as the best wallet for advanced Bitcoin users due to its high-security features and open-source capabilities. Advanced Bitcoin users can appreciate its minimalist design, where they can easily download to several different operating systems such as Linux, Windows, macOS, and Android.

Electrum was founded in 2011, and due to its exclusivity to Bitcoin, high-security standards, and wallet amenities, it is our choice for advanced Bitcoin users. While users can customize their transaction fees, Electrum does not have the following features: it cannot stake, buy, or sell Bitcoin. It was created to do one thing and one thing only: hold Bitcoin. Regardless, the Bitcoin wallet requires a high degree of technical expertise.

Electrum supports many operating systems, including Linux, Windows, macOS, and Android. However, setting up the wallet can be difficult, especially if you do not have coding expertise. Those with advanced coding skills may still require a learning curve, but the company provides its users with a support center and communities on platforms such as X (formerly Twitter), Reddit, Electrum channels on Libera, and GitHub.

Advanced Bitcoin users can also appreciate the security features Electrum provides. For instance, in addition to having two-factor authentication, it’s a cold storage wallet that encrypts your private keys. It uses simple payment verification (SPV) to verify all transactions with the added feature of multi-signature capabilities. Electrum users also have access to many third-party applications that you can use to protect your Bitcoin, including integrating it with a hardware wallet.

• Purchase Cost: Free
• Supported Crypto: 260 
• Hot or Cold Wallet: Hot

Exodus is our choice for mobile users who are comfortable operating on a mobile device. The software can easily be downloaded from popular marketplaces such as the App Store and Google Play. Once users have the application set up, they can start holding Bitcoin and other alternative digital currencies in the palms of their hands.

Exodus was founded in 2015 and is headquartered in Omaha, Nebraska. Its downloadable wallet is our choice for mobile users who are comfortable handling their digital assets on their smartphones. However, its software is versatile and can be used on other platforms, such as the web, desktop, and browser.

Once the wallet has been downloaded to the mobile device, users can hold 260 different cryptocurrencies while being able to buy, sell, swap, and stake their digital assets. Furthermore, the wallet supports hardware security devices such as Trezor One and the Model T integration through the Trezor Bridge process. Note that Exodus software is free to download, but you must pay for Trezor security devices.

The Exodus wallet offers a lot, such as a recovery phrase that can be as long as 12 words. But you should weigh the wallet’s limitations. For instance, it does not come equipped with two-factor authentication, and it only requires users to sign in to the app with a standard password. Also, the wallet is not fully open-source. What they have published can be found on GitHub.