One of the most important things to consider when you own bitcoin is securely storing them, and it’s your responsibility to ensure the secure storage of your bitcoin assets.
Read on to discover a list of the best Bitcoin-only software wallets you can use to keep your coins safe.
What Are Bitcoin-Only Wallets?
Bitcoin-only wallets are cryptocurrency wallets that allow you to securely store your bitcoin. Additionally, they enable you to send and receive bitcoin, akin to how you would manage your fiat currency held in your bank account.
Bitcoin-only software wallets are one of the two major categories of Bitcoin wallets: cold and hot wallets. This article looks at software wallets, which are considered hot wallets.
Bitcoin software wallets are categorized into web, mobile, and desktop wallets. Users can access web wallets online via any web service, while desktop and mobile wallets are accessed via desktop and mobile devices respectively. Finally, there are also hybrid wallets that you can access on multiple platforms.
Best Bitcoin-Only Software Wallets
Now, let’s take a look at some of the most popular Bitcoin-only wallets you can use on your desktop and/or smartphone. We have split the list into on-chain-only wallets and those that also support the Bitcoin Lightning Network.
On-Chain Bitcoin Wallets
Here are the top on-chain Bitcoin wallets you can use.
Bitcoin Core
Bitcoin Core is a full node Bitcoin wallet that validates transactions and relays them to the Bitcoin network. The wallet is entirely open-source, meaning any software developer can audit the code and confirm that the software wallet doesn’t hide secrets from users. In addition, it gives users complete control over their BTC, meaning no third party can access their assets. Users are, however, still responsible for backing up and securing their wallets.
As a full node Bitcoin wallet, Bitcoin Core provides a high level of security since no third parties are involved when verifying a transaction. However, since the software is loaded on devices that are vulnerable to malware, users need to secure their devices by enabling two-factor authentication and using solid passcodes.
The wallet requires an ample space of about 500GB and an additional 5-10GB per month. Users must store all this data, although it’s possible to reduce it to about 6GB by enabling pruning.
Features:
- Full node validation
- Excellent privacy
- Great user interface
Samourai
The Samourai wallet is one of the most feature-rich Bitcoin-only software wallets with a unique focus on privacy and security. The wallet was developed by a group of privacy advocates and is only available for Android devices, although there are plans to launch a Samourai wallet app for iOS.
Although it’s a software wallet, the app works in any network conditions, including a full offline mode, which bolsters the wallet’s security. It also supports the Bitcoin network’s Taproot upgrade, which improves bitcoin for layer two and multi-signature protocols.
Other noteworthy features embedded in the Samourai wallet include:
- Smart miner fees estimation
- Dojo Bitcoin full node server
- Stonewall addresses clustering protection
- PayNym first-touch wallet address protection
- Batch spending
- Scrambled pin
- Whirlpool bitcoin transaction cycling
- Stealth mode to hide the wallet from your device and launcher
- Ricochet protection from unjustified account closure
Sparrow Wallet
Sparrow is a desktop bitcoin-only wallet built with privacy, security, and usability in mind. Developers publish the source code for the wallet so any developer can audit it, and the wallet also provides as much detail as possible on transactions and UTXO. However, users still need to trust the wallet developers when installing or updating the software.
The wallet supports single and multi-signature script types and can interact with hardware wallets. It also connects to the Bitcoin core or an Electrum server, which means some trust in a third party is needed when verifying transactions. The wallet also features a transaction editor and a blockchain explorer.
Users have complete control over their assets and fees when using Sparrow. The wallet rotates addresses to make spying on transactions complex and prevents information disclosure to other network users. You can also activate Tor, which blocks internet providers or attackers from associating payments with an IP address.
Features:
- Supports single sig and multisig
- Strong encryption
Wasabi
Launched in 2018, Wasabi is a non-custodial open-source Bitcoin wallet created by zkSNACKs. It is a non-custodial wallet compatible with Linux, MacOS, UBUNTU, and Windows. The software is built with a trustless design; therefore, developers and the public cannot breach the privacy of your wallet. It’s a complete zero-knowledge software wallet for bitcoin.
It also features CoinJoin, which helps block filtering and communication through the Tor network. It also embeds an anonymous credential scheme known as WabiSabi, facilitating more efficient and accessible CoinJoins.
Features:
- Complete transparency
- Easy to use
- Excellent privacy
- Coinjoining at an affordable rate of 0.3% (For coins with a value above 0.01 BTC)
Bitcoin Wallets That Support Lightning Network
Now, let’s take a look at Bitcoin-only wallets that also support LN.
Bitnob
Bitnob is a Bitcoin and Lightning wallet built in Africa to make connecting with the Bitcoin blockchain easy for every African and African business. It comes with unique functionalities, such as the individual saving plan for BTC that users can choose to do daily, weekly, or monthly.
The wallet is easy to set up and supports a range of African currencies and payment methods.
Features:
- Supports bitcoin and local African currencies
- Bitcoin to local currency settlements
- Bitnob for Woocommerce plugin
Breez
Breez is a Bitcoin wallet optimized explicitly for the Lightning Network.
When you first set up Breez, it will automatically create a lightning network wallet for you when you receive BTC for the first time. The wallet also includes a feature for merchants who want to accept Bitcoin payments. Moreover, the wallet offers user-friendly backup options, making it an appealing wallet for first-time Bitcoin users.
Features:
- Merchant’s point of sale function
- Podcasting 2.0 tab
- Easy backup
- Access to lightning apps
Blue Wallet
Blue Wallet launched in 2017 to introduce a powerful Bitcoin-only wallet. The wallet features a sleek design that is relatively user-friendly and minimalistic.
It is, however, a feature-rich platform that uses multi-sig vaults, one of the best securities available for the Bitcoin protocol. You can also create multiple storages, including fake storages, in case you encounter a forced disclosure.
Blue Wallet also easily connects with hardware wallets, allowing users to manage their cold vaults. Transactions are also cheap and fast, with the option of choosing your fees when transacting. Users also receive notifications for all transactions that happen on the wallet.
Features:
- Plausible deniability
- Multisignature vaults
- Watch-only wallets
- Advanced mode for experienced users
- Transaction control with fee adjuster
Electrum
The Electrum Bitcoin wallet is available for desktop and mobile users looking for speed and simplicity.
The wallet’s software is open-source, and developers can audit it anytime. It deploys remote servers capable of handling the most complex parts of the Bitcoin network to recover your wallet using a secret phrase. It’s also compatible with other wallets so that you can link the Electrum wallet with major hardware wallets.
In terms of security, users can choose a personalized system. They can use multi-sig, two-factor, or the standard security system. Using the wallet is hassle-free as it features a navigable layout. You can always check your transaction and use other in-app functions without struggle.
Features:
- Personalized security
- Fast, secure, and easy to use
- Hardware wallets compatibility
Muun
Muun is a non-custodial wallet ideal for beginners and Bitcoin experts. The wallet’s design allows you to create an account and back it up so that only you can access the backup. Muun will never store your backup data. You can also adjust your wallet’s security under the settings and security tabs and create three forms of backups for additional safety.
The wallet supports both the Bitcoin main chain and the Lightning Network. It provides unmatched safety to your digital assets with its 2-of-2 multi-signature feature, which requires outgoing transactions to be validated with two keys rather than one. One of the keys is held in your device, while the Emergency Kit contains both. Muun also has an upcoming feature that will allow users to lock their wallets until they get a new phone in case the device is lost.
Features:
- Multi-factor authentication
- Cold recovery code
- Multiple backup options
- Mempool-based fees estimator
Wallet of Satoshi
The Wallet of Satoshi is a mobile custodial wallet that focuses on simplicity. All you need to do to start using the wallet is to download the app for Android or iOS and instantly send or receive bitcoin via the lightning network.
Features:
- Simple design
- Different top-up options
In addition to the software wallets in this article, you can also check out our list of top bitcoin-only hardware wallets! A hardware wallet is advisable if you are looking to store large amounts of bitcoin, while a software wallet – like those listed above – is meant to store the bitcoin you would use for your day-to-day spending.
Credit: Source link
