We've already established that Bitcoin is stored in a Wallet. But which is the best Bitcoin Wallet? Well, that depends on whether you're after a Cold Wallet or a Hot Wallet. If it's the former, which is the most secure option, you're going to want to go with the Ledger Nano S. If it's the latter, we recommend Coinbase Wallet.
For those in need of a refresher, a Cold Wallet is a Bitcoin Wallet that's stored on a device that's not connected to the Internet when it's not in use; whereas a Hot Wallet is a Bitcoin Wallet that's located on a device that's connected to the Internet at all times, such as a computer or a smartphone, or even cloud storage (for constant access).
- Best Bitcoin Wallet: Ledger Nano S
- Most Secure Bitcoin Wallet: Ledger Nano S
- Most Convenient Bitcoin Wallet: Coinbase Wallet
- Best Cold Wallet for Bitcoin: Ledger Nano S
Best Hot Wallet for Bitcoin: Coinbase Wallet
There's another type of wallet that didn't make the cut, simply because while it's the most secure, it's also the least. We're talking about a Paper Wallet. This is a Cold Wallet that's kept completely offline, wherein both the Private and Public Key are written on a piece of paper and stored. If it's lost, the entire Bitcoin Wallet is lost.
Related: How To Mine Your First Bitcoin