In order that anyone can have Bitcoins, users must create their wallets. Wallets are not visible in the network and you can have more then one. There are wallets on- and off-line. Each has its advantages and disadvantages. Due to the risk of hacker attack is recommended to have multiple wallets with smaller amount (preferably off-line), which are sufficiently password protected.
Payments are carried to and from addresses that are generated in the wallet. In general, it pays to have more of these addresses for different transactions separately. Address is a string of 34 characters.
In part I stated that transactions are non-refundable, in essence, this also means that in the case of “losses” (theft, loss or access data loss/destruction of hardware – in the case of off-line wallet) of wallet, the BTC in it can’t be restored or recovered. Analogy in real life is the physical destruction of banknotes.
So I prepared the list of Best bitcoin wallets and you can choose which is the most preferable by you:
1. Coinbase
| Ease of use: | 4/5 |
| Security: | 4/5 |
| Advanced features: | 4/5 |
| TOTAL: | 12/15 |
Site: https://www.coinbase.com
Adva: Great for beginners in Bitcoin, You can buy and sell Bitcoins, Vault, Instant confirmations of transactions
Disadva: Controls user’s private keys
Overview: Coinbase is in fact the most user-friendly and best wallet for beginners and Bitcoin fans that wants to start with Bitcoin. You can also buy and sell Bitcoins on the platform and that’s definitely a bonus, but for bigger amounts you need to go through a lot of verifications and thats not so good. The target of this wallet is definitely the mainstream public.
Off-chain transactions are available through Coinbase, with an instant confirmations on Bitcoin transactions. Also provides a Vault option for users who wish to have their Bitcoins stored in a more secure space.
2. XAPO
| Ease of use: | 4/5 |
| Security: | 3.5/5 |
| Advanced features: | 3/5 |
| TOTAL: | 9.5/15 |
Site: http://xapo.com
Adva: Payments in XAPO accounts are without fee, Mobile version
Disadva: You have to pay monthly fee if you wanna have credit card
Overview: Xapo is a new wallet to the Bitcoin scene, but they come up with two major features that could turn them into a big player. First, they have a Vault option where you can securely store your Bitcoins for a small fee. This Vault may not seem like a big deal at first, but all Bitcoin in Vault are insured! The other main feature of this wallet is the addition of a traditional debit card. It allow users to spend their Bitcoins at any merchant where major cards are accepted, but you have to pay monthly fees (Not so small).
3. Blockchain.info
| Ease of use: | 4/5 |
| Security: | 3.5/5 |
| Advanced features: | 3/5 |
| TOTAL: | 10/15 |
Site: https://blockchain.info/wallet
Adva: Doesn’t control user’s private keys, Available for every platform
Disadva: Can be difficult for new users
Overview: Blockchain.info has proved itself as the gold standard of simple, secure Bitcoin wallet. It is an online wallet that uses enhanced security to keep funds secure at all costs. Blockchain.info never has access to its users private keys. Users can access their wallet through smartphone apps, text messages, chrome extensions, web browsers, and more. It’s hard to find the perfect balance between user-friendly and security, but it seems that Blockchain.info has been able to come up with the best solution.
The only downside to Blockchain.info is that it can sometimes be a bit difficult for people who are new to the Bitcoin ecosystem. They’ve taken some strong moves in the right direction with the latest version of their Android app, but it seems that they are still working to attract both novice and power users of Bitcoin.
4. MultiBit Classic – Multibit HD
| Ease of use: | 4/5 |
| Security: | 3.5/5 |
| Advanced features: | 3/5 |
| TOTAL: | 9.5/15 |
Site: https://multibit.org
Adva: Off-line and very secure, Nice and easy design, Multi. Now new version Multibit HD.
Disadva: Need to be synchronized before working.
Overview: Like Electrum, Multibit is a easy client. Unlike Electrum, Multibit does not need to rely on servers; instead, it connects directly to the network. It’s using a new feature known as bloom filters implemented in BitcoinQt 0.8 to only download a small set of the Bitcoin blockchain, with a size of 6 GB download that the Satoshi client and Armory require. While, its still keeping track of all transactions that are relevant to the user. Multibit has also a plenty of translation to many languages worldwide, as well as having the ability to manage multiple wallets.
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