Best Bitcoin Wallet for 2024 – Blockchain Vs. MyCelium Vs. Coinabse
After taking a tour of the top Bitcoin exchanges in my last review, it’s time to tackle Bitcoin wallets. This page takes a look at the best Bitcoin wallets you can use in 2024. Before I dive into the wallet options, though, I’d like to showcase everything you can expect from a Bitcoin wallet.
In a nutshell, you can think of a Bitcoin wallet as a digital vault where your precious crypto treasures can live, safe and sound. This article will break it down and explore which wallets can keep your crypto cozy in 2024, with options that fit everyone from newbies to Bitcoin pros.
But before we get to the nitty-gritty, this handy video explains BTC wallets and what they involve:-
Now that we’ve got that out of the way, it’s important to understand that there are different types of wallets available.
Desktop Wallets – Software that sits on your computer and is connected to the Internet. In this case, your computer’s hard drive is the actual wallet. If somebody steals it, therefore, they also get the Bitcoins kept in it.
Mobile Wallets – Similar to desktop wallets, only this time your mobile device acts as the place where the Bitcoins are stored.
Web Wallets – A website that stores your Bitcoins on their own servers. In short, this means that you’re giving your Bitcoins to someone else to keep them safe for you.
Hybrid Wallets – This is an independent wallet (desktop or mobile) which you can access via the web through use of a password. Think of this as a safe inside a bank where only you have the key.
This review concentrates on online-based services, as they are more approachable for newbies.
Blockchain.info
Wallet type: Hybrid Wallet (available as a mobile app also)
# of users: 1,601,540
Rating on Google Play: 4.2 (by 1,515 users)
Operated by: Qkos Services Ltd. (UK based, founded 2004)
Overall: Blockchain.info is one of the main sources for information about the Bitcoin network today. Probably the most popular block explorer today, the website also offers a hybrid wallet which comes in the form of a desktop and mobile version for Android (Apple removed all Bitcoin applications collectively).
Pros: Blockchain.info gives you the opportunity to open as many Bitcoin wallets (addresses) as you’d like and you can configure from where the payment will be sent or received each time. The mobile app also allows you instant access to your wallet from wherever you are. For the more advanced user that may be seeking privacy when sending Bitcoins, there is the Shared Coin option. Shared Coin provides privacy for your transactions by combining your transaction with other people.
Cons: It seems that the user interface on Blockchain.info’s Android app is a bit lacking, as many of the users have complained about it. The main issues are pairing devices and password issues. I can say from personal experience that I’ve encountered some of these issues myself. That said, it only takes a few minutes to solve most of these problems. The main con would probably be that you’re dependant on a 3rd party to store your Bitcoins and need to follow their security measure – as you can see here it sometimes isn’t enough.
Coinbase
Wallet type: Web Wallet (available as a mobile app also)
# of users: 1,200,000
Rating on Google Play: 4.2 (by 1,743 users)
Operated by: Coinbase inc. (US Based, founded 2012)
Overall: Ranked #2 out of the top 3 Bitcoin wallets. Coinbase allows you to access your Bitcoins through their website and your mobile phone using a native Android app. Unfortunately, Apple removed the iOS app Coinsbase released to the App Store on November 2013. There is no way of knowing when users can expect the rerelease. Apple made this decision based on its rejection of Bitcoin apps. Still, one of the coolest things Coinbase allows you to do is to use an SMS service in order to buy and send Bitcoins.
Pros: The main advantage of this app is that it allows you to buy Bitcoins immediately from Coinbase. This eliminates the hassle of trying to find way to buy Bitcoins each time you need some. Also, the vast majority of customer reviews seems to be positive about Coinbase’s service and app.
Cons: The most obvious disadvantage of Coinbase would be that it’s available only in the US. Also, if you’re an iPhone user, you’ll probably need to find an alternative such as Blockchain.info. Yet another great disadvantage of Coinbase is that you are giving away your Bitcoins to a 3rd party to safeguard. This means that if a third party hacks Coinbase or it goes bankrupt, for example, you can lose your Bitcoins (e.g. Mt.Gox users who lost their fund when the exchange became insolvent).
MyCelium
Wallet type: Mobile Wallet
# of users: ~50,000
Rating on Google Play: 4.7 (by 765 users)
Operated by: Megion Research & Development (Based in Austria)
Overall: An emerging Bitcoin mobile wallet which seems to be gaining traction lately, MyCelium is stated to combine simplicity of use and speed with full power to the end user because he keeps his private keys. This mean that you do not rely on any 3rd party (like Blockchain.info for example) and store your private keys on your phone.
Pros: Probably the simplest mobile wallet today. MyCelium is also deploying at feature called Local Trading soon which will allow you to meet Bitcoin vendors in your area. They’ve create a video for it but I must warn you, it look a bit like a parody…
Cons: I can’t say there is any visible downside to MyCelium currently – even the reviews on Google Play are very sympathetic. I’ve recently started using it, and it seems to be working great. It also gives you the opportunity to easily create a backup for your wallet if someone steals your mobile device, or it breaks. It is, however, a shame that there is no desktop application. Hopefully, we’ll see one in the future.
Best Wallet: A Worthwhile Alternative Option
So, you’ve run through the products I’ve reviewed above and are still not convinced. If that’s the case, I suggest you take a look at what Best Wallet can offer. Among other things, it really shines with its wide asset support and easy-to-use interface. It’s also packed with convenient features—you can buy, sell, and swap crypto right in the app. And for those who love airdrops, Best Wallet has you covered, making it a fantastic all-in-one choice for crypto fans.
Best Wallet is a great alternative to the other BTC wallets reviewed on this page because it provides a smooth, secure way to handle your digital assets. With high-level security features like biometrics and multi-factor authentication, your funds stay protected. And if peace of mind is what you’re after, the customizable backup passphrase ensures easy wallet recovery whenever you need it.
So what’s the verdict ?
It seems to be that there is no clear winner. If you’re just starting out with Bitcoin I’d suggest MyCelium or Best Wallet because of their simplicity. For the desktop I’d choose Coinbase for US-based residents and Blockchain.info for those living outside of the US. Keep in mind that you should only use these wallets for Bitcoin “cash”, and not BTC “savings”. Finally, for large amounts of Bitcoins you should use cold storage and not keep your Bitcoins on any device.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
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4 thoughts on "Best Bitcoin Wallet for 2024 – Blockchain Vs. MyCelium Vs. Coinabse"
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Great insight there. I’m looking for a better,simply Btc wallet and a reliable trustworthy source I can buy btc from. Frank FM. in Zimbabwe
Nice overview of the wallets here and very good advice at the end about cold storage. Thanks!