Which Bitcoin Wallet is the Best Balance Between Ease of Use and Security?
There are few great choices when it comes to the software wallets, although to be sure, hardware wallets are much safer. With hardware wallets there are almost zero chances of someone stealing your assets. Until now, it hasn’t been recorded any serious case of hacking into the hardware wallet. Still, they are quite difficult to use for someone who is not experienced in the crypto community. Software wallets are much simpler and they can be quite safe as well. When it comes to the security of software wallets, it is important to choose a legitimate one and to be cautious with your personal data and how you save it.
Most of the thefts don’t happen because of the lapse in the network, but because the users left their information unprotected. It is important to keep your private keys locked and don’t use the account for other types of transactions. Also, don’t leave big amounts of currency on the exchange. That is the easiest way to lose your money. Nevertheless, it is important to choose your wallet wisely. Here are some of the top choices when it comes to the balanced ratio of simplicity and security.
Mycelium
It is quite simple wallet for beginners since it requires no authentication, e-mail or passwords. It is quite secure and it has a team of developers that is active and constantly working on improvements. Also, it is open-sourced and well established. Considering the fact that it has fair background it is completely legitimate and safe way for someone to start storing Bitcoin.
Jaxx
Another great choice that is also available on Android. With Jaxx, you can store Bitcoin and altcoins, total of 13 cryptocurrencies. Since it is a multi-asset wallet it is always a great choice. Jaxx is well established and globally accepted cryptocurrency wallet which means that simply, many users have great experience which is key indicator of quality and safety. It also has backup seed key which enables you to gain access over your assets if your device is damaged.
Exodus
It is also desktop wallet which makes it very simple for manipulation of assets. Interesting fact about Exodus is that it is the first multi-asset wallet. It is quite safe since it has no hosted servers or logs and it offers variety of cryptocurrencies. It also doesn’t require any logs, but it is definitely a good thing that it also has backup seed key which will enable you to regain access to your money. Still, the password is needed if you want to spend your funds.
These are some of the top choices. It is important that all three of the mentioned wallets are desktop oriented which makes them simple for beginners. Also they are all legitimate and been on the market for a long time.
I often get criticized for this. But especially with Bitcoin I would rather use Coinbase as a wallet and use the 2FA before using any hot wallets. Exodus and Jaxx have nice user interfaces but are way to insecure for my liking. I agree with your first statement, take the plunge and get a Ledger or Tezor.
iOS’s bread wallet.