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To store and transact with Bitcoin, Litecoin, Ethereum, or Bitcoin Cash, you need a wallet. This article is meant to be a great starting point for anyone new to digital currency or looking to switch wallets.
There are several excellent wallet apps out there, but there are also fraudulent ones that can steal your funds. Because new entrants into this space are unfamiliar with the Bitcoin wallet landscape, we wanted to share our most common recommendations. We cannot guarantee the safety or suitability of any app in the below list, but these are all popular, well-regarded, and well-tested solutions.
Note: We do not recommend custodial or bank-like apps such as Coinbase. Only non-custodial wallets like those below give you full control over your coins and tokens, as well as enhanced privacy.
Athena has a long history with Edge, beginning with their debut wallet app: Airbitz. We love their non-custodial username/password login system, easy 2FA, responsive customer support, and relatively advanced features packed into a very beginner-friendly design.
+ Multi-asset wallet app
+ Segwit enabled (for lower Bitcoin fees)
+ User/Pass for simple recovery if phone is lost
+ Can use an existing Athena or Airbitz account
+ Fine transaction fee control
+ Open source (code available for review)
+ Great customer service
– Occasional problems syncing individual wallets
Don’t forget to write down – on paper – your username and password!
Similar to Edge, we use and love Exodus. Exodus has been released for both regular PCs (Windows, Mac, Linux) and mobile phones. Exodus features a gorgeous design but has fewer options for advanced users.
+ Multi-asset wallet app
+ Segwit/bech32 enabled (for lower Bitcoin fees)
+ Beautiful and responsive interface
+ You can sync your wallet between desktop and mobile versions of the app
+ Great customer service
– Not entirely open source
Don’t forget to write down – on paper – your 12-word recovery phrase!
It is recommended that you have a “hot” wallet for small amounts you use frequently – such as in Edge or Exodus – and then a “cold” wallet for larger savings in a Trezor or Ledger device (analogous to traditional bank checking and savings accounts).
These hardware wallets cost between $55 and $170 depending upon model. They force you to confirm transactions on the physical device, itself, and they keep your private keys away from an internet-connected phone or computer.
The Trezor has a quick, browser-based interface but relies primarily on having a desktop or laptop PC (though it will work through Google Chrome on Android) . The Ledger models work well on both Android phones and PCs with the Ledger Live app, or with Apple iPhones if you have the Nano X.
You can optionally use Exodus to connect with and manage a Trezor device on a PC. Bitcoin-only holders might prefer to use Electrum with either the Trezor or Ledger on a PC. Note: Physical security of your hardware wallet is also important. These devices cannot stop a dedicated attacker from stealing your funds if they have physical access to your Trezor or Ledger (when it is loaded with your seed).
Always make a backup of the username/password or 12+ word seed/recovery phrase from these wallets whenever you create a new one! Write the backup down on paper and store it safely. Don’t take screenshots or save your backup in an unencrypted file. Your backup is the only way to recover your funds if something happens to your device.
The safest Bitcoin storage is not on your phone. Use hardware wallets such as the Trezor or Ledger to store larger amounts of digital assets.
Questions about setting up a wallet? Feel free to call or message us. You can also reach us here.
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