9 Wallets to Safely Store Your Bitcoin in 2023

As Bitcoin continues to grow, it might be time for you to take a moment to reconsider your security. The crypto market has come a long way in the last 14 years, but most of the sector remains unregulated. In addition, the ever-growing list of new features, networks, and exchanges can confuse users. Of course, the one thing everyone can agree on is that losing your cryptocurrency because you didn’t keep it stored safely is a real tragedy. 

Trezor Model T

The Trezor Model T is one of the world’s most popular hardware wallet options. Hardware wallets are the most secure way to store crypto because they are not connected to the internet. In addition, this wallet features an intuitive and convenient user interface.  

The wallet includes a brilliant touch screen that makes it easy to monitor your transactions. The Model T combines screen approvals and physical buttons to keep your crypto safe. Additionally, users gain the ability to access third-party exchanges. Best of all, Trezor is built on open-source software. 

Ledger Nano X

Ledger is another popular cold wallet option in the market. The Ledger Nano X retails for $160, so it’s a bit cheaper than the Model T. Ledger is best known for its sleek design. Its wallets look similar to USB drives. On the side of the unit is a bright LCD screen that simplifies transaction approvals.

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The Nano X allows users to link the device via USB or Bluetooth. This way, you don’t need a PC to interact with your wallet. There is also a desktop-based Dapp called Ledger Live. This software makes it easy to monitor any of the 5500+ cryptocurrencies and tokens you can store on the unit.

Exodus

Exodus is an established hot wallet option. Hot wallets are more convenient, but they leave you more open to online threats versus cold wallet systems. Exodus is great for beginners because its design is very simplistic. The wallet is available in both a desktop and mobile version. 

Another cool feature of this wallet is its internal exchange options. You can swap your favorite cryptos from the safety of your wallet. Impressively, Exodus currently allows for swaps between over 150 different cryptocurrencies. The network also includes a responsive customer service department that can help answer any of your crypto questions. Notably, Exodus is not open source. 

Electrum

Electrum was one of the first Bitcoin wallets to launch. This helpful platform is geared toward Bitcoin traders only. The network launched in 2011; since then, it has remained a top choice among serious Bitcoin users. Another significant benefit is that Electrum is compatible with hardware wallets, including the Trezor and Ledger models. Also, Electrum is open source. The coding behind the platform has been vetted by the community and is secure. 

Jaxx Wallet

Jaxx is another popular multi-currency Bitcoin wallet. This wallet features a straightforward graphical user interface that stores and tracks 150+ cryptos. In addition, Jaxx offers in-wallet exchange options thanks to a partnership with Shapeshift. You can exchange any of the supported coins in minutes using this protocol. 

Jaxx is a non-custodial wallet meaning that you are the only one with access to your private keys. Not even Jaxx’s development team has access to your coins. The wallet includes a news tab that provides you with the latest crypto updates. There is also 2FA support for those who seek added protection. 

Wasabi Wallet

The Wasabi wallet makes this list for its advanced privacy features. This unique protocol allows you to mix your Bitcoin with other users automatically. Bitcoin mixers help to protect your identity from thieves and other nefarious actors in the market. Users can decide how long and in-depth they want to mix their coins. The longer the mix, the harder it will be to track your coins. The Wasabi wallet is now available for free download on desktop devices. Additionally, this wallet only supports Bitcoin. 

Éclair

The Éclair wallet was one of the first Lightning Network-enabled Wallets. The Lightning Network is a second-layer protocol that allows users to conduct transactions more efficiently. The Lightning Network has recently seen integration into numerous major exchanges. 

Éclair users gain some serious benefits when they use this network. For example, Éclair users enjoy instant and cheap transactions compared to traditional Bitcoin. Also, the wallet gives you the flexibility to select your fee model. The higher your fees, the faster your transaction will complete. Notably, Éclair only supports Bitcoin at this time. 

Coinbase

The Coinbase wallet is suitable for new users who want to store small amounts of Bitcoin. The network’s simplistic design and regulated environment provide adequate protection against hackers and other losses. Notably, Coinbase is the largest regulated exchange in North America. As such, users enjoy a high-security level and understand that the network has the funding to replace any funds stolen due to developer negligence. One of the Coinbase wallet’s best features is that you can schedule your Bitcoin purchases daily, weekly, or monthly.

Samourai Wallet

The Samourai wallet is another privacy-oriented option for users. This wallet features a unique stealth mode that allows you to make private Bitcoin transactions. The wallet was designed from the ground up to keep your transactions and identity secret. The Samourai Wallet is one of the most feature-rich and advanced Bitcoin wallets available on Android today. This free download was built by and for privacy advocates in the sector. It’s easy to use and only takes seconds to load. 

9 Wallets to Safely Store Your Bitcoin 2023

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These wallets offer unique benefits to help you achieve your overall investment goals. Stick to these wallets, and you will watch your sats stack to the ceiling. Remember, there are no chargebacks and refunds in cryptocurrency. For these reasons, you must remain vigilant in your Bitcoin security protocols.