Bitcoin Wallet Test: The Best Bitcoin Wallets 2020
A Bitcoin Wallet generates your address pairs, which are necessary for receiving and sending Bitcoin. However, if you know your secret key, you are in possession of your Bitcoins. Therefore, the right choice of Bitcoin Wallet is crucial.
Different Types of Bitcoin Wallets
There are many types of Bitcoin Wallets, which are categorized into two groups: Hot and Cold Wallets. The hot wallets can be accessed via the Internet and thus carry a high risk of attack. These should be considered as a wallet in which only a few bitcoins are kept.
With cold wallets, on the other hand, the seed was generated offline and stored for a long time. This means that this important information, which ensures access to your coins, is not accessible from the outside. This type of wallet is definitely the best decision you can make to keep your Bitcoins safe.
Cold Wallets include, for example, paper wallets generated on a secure and offline computer or hardware wallets.
The best Bitcoin Wallets in the test
These are external devices that communicate with your end device via USB or Bluetooth. A transaction is then still carried out on the smartphone or computer, but all important transactions are then carried out on the hardware wallet, sealed off. Similar to the TAN generator in a conventional bank.
This keeps the private key secure and never goes public Even an infected computer can’t harm your Bitcoins. The Bitcoin community therefore agrees that this form of storage is currently the safest solution.
The most popular Bitcoin Hardware Wallets can be found here:
Other ways of storage
Beside the hardware wallets there are also other possibilities of Bitcoin wallets.
Bitcoin Paper Wallets
Paper wallets are also conceivable. With these, the address pairs are generated by a small program.
The public address can now be used to store your bitcoins. As soon as you want to spend some, make sure to use them all at once. Because if you try to spend or withdraw only a part of the money, you risk losing the remaining balance forever. This makes a paper wallet not very comfortable compared to a hardware wallet.
A Bitcoin Wallet on a smartphone or PC presents an increased risk, since the private keys are theoretically accessible by hackers.
Wallets on Bitcoin stock exchanges are also a big risk, as the private keys may also be known to the operator and the past has shown that it is not necessarily possible to trust them.
Bitcoin Wallet Test 2020
The best Bitcoin Wallets in the current comparison can be seen in the following table:
|Model||Ledger Nano X||BitBox02||TREZOR One|
|Comments||13 comments||1 comments||-|
|Platform||Windows, MacOS, Linux, Android, Chrome OS, iOS||Windows, Linux, Mac, Android||Windows, Linux, Mac, Android|
|FIDO U2F Authenticator|
|Interfaces||Bluetooth, USB-C||microSD, USB-C||USB|
|Reviewto the shop||Reviewto the shop||Reviewto the shop|