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Best Bitcoin Wallets for 2015 17 Jul 2016, midnight

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Best Bitcoin Wallets for 2015

Originally posted 13 Aug 2015 by

DarkWallet Clearly Dark-Wallet as promising as it may appear, is still a work-in-progress and as far as we are concerned, should not be trusted with any significant amount of your Bitcoin until further notice.

Armory Bitcoin Armory is one of few desktop wallets on this list which provides a convenient cold storage of your Bitcoin private keys (Electrum does as well). Bitcoin Armory is still a work in progress and there are minor problems with newer versions backwards compatibility with the earliest and most stable version. Armory runs on top of Bitcoin-Qt, users must maintain a full node on the machine Armory is installed on. Armory is not our personal favourite wallet but we strongly advise you familiarise yourself with it prior to regular use. Once you can operate this wallet competently you'll probably not look for anything else. It has by far the most robust security features and is the most complete wallet. It cannot be used on mobiles, but Armory is more like a Bitcoin Vault than a Wallet and when the security features are understood and you can take advantage of it the security and privacy given will leave you without any worries at-all. Mycelium Mycelium is probably the leading and most popular Android Bitcoin wallet.

Bitcoin Wallet Bitcoin Wallet by Andreas Schildbach, around since 2011 but has recently been surpassed in features and popularity by Mycelium. Most still love the pie-chart type progress bar showing confirmed transactions :-)

Electrum Electrum, a lightweight Bitcoin wallet available on Android, OSX, Linux and Windows. It supports cold-storage using two computers or alternatively you can pair your Electrum wallet with a Trezor device. Electrum is easy to operate for a beginner and arguably the most versatile Bitcoin wallet available at present. We strongly recommend Electum for day-to-day, mobile use. It is also the only Bitcoin wallet to be included by default with the TAILS operating system. AirBitz AirBitz is a light-weight mobile Bitcoin wallet for Android and iPhone, AirBitz is an excellent wallet but does not support Tor, so if privacy and security is not your priority its a good contender.

Blockchain for Web and Android Blockchain was one of the first Bitcoin web wallets available but has been surpassed in features and privacy by newer wallets. It's a deterministic wallet so you can always recover your wallet from a seed phrase, many of our staff and customers still swear by it and we do to too, however, we feel that further testing would be critical before you adapt Multibit HD as Electrum is better equipped and has a better track-record. It depends on how far you need to go, for everyday use such as holding a few thousand in Bitcoin and using it for purchasing goods, spending on ecommerce and trading with other Bitcoin users it's more than adequate, if you need it for more secure purposes and need to use Tor then it is probably not for you.

Coinbase The Coinbase Bitcoin wallet is available for web, iPhone and Android. The company is well reputed providing both wallet services and payment processing. Coinbase ranked last in the privacy rating because private keys are held on Coinbase servers and the company retains detailed records of all transactions, which many feel goes way beyond requirements also with several reports of customers losing their Coinbase accounts for transferring funds to online gambling sites which violates Coinbase terms of service, we would strongly advise against Coinbase unless it was for a very special reason which we can't think of. We foresee many people leaving Coinbase soon.

Hive We feel the Hive Bitcoin wallet is worth noting. Available for web, iOS, Mac and Android Hive is a deterministic wallet like Electrum that can always be recovered from a seed phrase and PIN number. It is the only wallet on our list that supports both Bitcoin and litecoin. It is probably the most feature rich mobile wallet and has a beautiful interface, we would recommend this for mobile use all-day-long, however for long term storage we would advise a seperate wallet with better security.

Summary! Be advised that web and mobile Bitcoin wallets are being surpassed by more secure hardware wallets. You can already very securely store your Bitcoin using a Trezor device paired to Electrum or Trezor’s own web wallet. The problem with all existing web or mobile wallets is security of your private keys which is solved by Trezor and other Bitcoin hardware wallets.

Our conclusion is that as of 2015 Electrum is the best option for your mobile, everyday use and is the most versatile; and then we advise for long term storage that you use Armory as its security is unrivalled at present. We still recommend you try all wallets mentioned here except for Coinbase, however, please bear all the considerations in mind, especially as far as security is concerned.

We are soon to publish a good article on the use of Multi Signature (Multi-Sig) bitcoin wallets, please sign up for more!


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