Hodly – a crypto-currency wallet from the IQ Option

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Hodly Review: App to Buy & Sell Cryptocurrencies with Your Bank Card

Hodly is a new platform with a mobile wallet for storing, buying, and selling major cryptocurrencies, it’s one of the latest ways you can complete fiat purchases of cryptocurrency using your bank’s debit or credit cards. Hodly was created by the IQ Option team and is aiming to be a competitor of Coinbase, another easy to use app for purchasing cryptos with fiat currencies.

The wallet is designed to be simple to use and because it is also a mobile application, users can have it with them at any time. The wallet provides an intuitive method of buying cryptocurrency with your method of choice as well as the ability to securely store cryptos. Because it supports all the major coins, most Hodly Wallet users will only need this single wallet for all their cryptocurrencies.

Update: As of May 2020 The Hodly wallet no longer accepts new customers. You can still signup with their parent company IQOption.

Hodly Account Creation

You can easily sign up for Hodly via the website or the application, the process is quick and simple and you will have access to your account in seconds.

Most of the functions do not require verification. With a Basic account, you can buy, sell, and receive cryptocurrencies. Verification is required for sending or withdrawing funds, but the process is incredibly simple. You just upload an image of your ID, and your account will typically be verified within about 15 minutes.

When you log into your Hodly Wallet account, you will see an easy-to-read summary. It includes the value of your entire portfolio in fiat currency as well as divisions for fiat and cryptocurrencies, divided into “Accounts” and “Crypto Wallets.” In the case of the crypto wallets, the platform displays the quantity of each coin as well as its equivalent in fiat currency and recent change.

How to Buy Cryptocurrency with Hodly

One of the most convenient things about the Hodly Wallet is the ability to purchase cryptocurrency via your chosen bank card. The wallet supports both Mastercard and Visa. Alternatively, you can purchase cryptocurrency with your account balance. To make the process go by smoothly, buying crypto can be as simple as selecting the cryptocurrency you wish to purchase then selecting a preset amount, such as $100 or $200. If you prefer, you can also choose a custom amount to buy exactly as much as you wish.

Sending & Receiving

Sending and receiving cryptocurrency via Hodly Wallet is straightforward. Transfers between two Hodly users are always free, letting you keep your hard-earned crypto. Just select the currency and click either “Buy” or “Sell.” You will see your transaction history regarding this currency, as well as the current price of the crypto in question.

Other Features

In addition to basic functions of storing, selling, buying, sending, and receiving cryptocurrency, Hodly has support for forks. This means that you can hold onto your favorite coin (or HODL it) and then benefit from the planned fork. It also includes an “Ultimate Explorer” with all the charts, market caps, price changes, and other data you need in a single place for easy purchase or sales decisions.

Those who plan to use Hodly Wallet to trade cryptocurrencies on a regular basis or with specific investment goals in mind will appreciate the newsfeed, which displays crucial information regarding upcoming announcements and the latest events. This can let users stay up to date on cryptocurrency news, so they do not miss out on an event that impacts the value of the cryptos they hold or want to buy.

Hodly Chat

While most cryptocurrency wallets are simply for storing and using your cryptocoins, Hodly Wallet also includes some social features, such as the chat function. This chat is within the application itself, so there is no need to waste space on your phone by downloading an additional app. Using the chat, you can talk to others on the platform any time of the day about specific cryptocurrencies. The chat feature is also your key to accessing the Hodly Wallet’s 24/7 customer support.

What Devices Does Hodly Support?

Those who want a larger view can use the Hodly Wallet via its website. Just visit the homepage and sign in to access the features. Most users will want to download the Android or iOS application, which also have full functionality. This means that you can use Hodly to buy or sell cryptocurrency using your bank card or send and receive tokens. Use the plication to check the relevant information for your chosen cryptocurrency, including the market cap, 24-hour changes, and price history.

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Hodly Fees

I couldn’t find any information about the fees that Hodly charges which is a little disconcerting so I contacted customer support via the chat box who didn’t respond.

To try and find out what the fees are, I added a test transaction of £10. In the popup box to confirm payment, the fee does get listed as 4.9%. The app says would give me 0.015339 BTC, at the time of writing I should have been able to get 0.0164010 BTC so really Hodly is charging a fee of 0.001062 BTC which is £6.47 roughly so the fee is around 6.5% which is quite high. For example, Coinbase in the UK charges 3.99% for instant card purchases.

Hodly Customer Support

Support on Hodly is provided by the chat box, accessed with the icon in the bottom right hand corner of the site. You can send your query there as a message, unfortunately when I tried it I got the message:

Dear trader, at the moment all the specialists are busy. Please write your question in details and it will be replied as soon as possible.It is temporary inconvenience. We truly appreciate your understanding.

Customer reviews online with the app receiving 4 out of 5 with 276 reviews on the Android app store.

Is Hodly Safe?

To keep your funds and personal information secure at all times, Hodly Wallet uses two-step verification, as well as cold storage. To protect information from the start, Hodly Wallet transfers sensitive information to a secure storage facility that is not connected to the internet. Then, the data undergoes encryption before the system makes backup copies of the encrypted data on paper and flash drives. The copies, as well as the originals, are distributed across multiple bank vaults in several countries, providing further protection against hackers, as well as major issues, such as natural disasters.

To prevent unauthorized access to your account, Hodly Wallet strongly encourages users to enable two-factor authentication (2-FA). With this feature enabled, you must use a code delivered to your cellphone to log into your account, in addition to your password and username.

To protect your money and information during the processing of payments, particularly those using a Visa or Mastercard, Hodly Wallet has multiple security measures in place. The platform and website use the SSL (Secure Sockets Layer) protocol, which is considered the golden standard of the internet for protecting information online. The wallet also utilizes PCI DSS, the world-class security standard used for the acceptance, processing, and storage of bank card information. Finally, payments use AES-256, the most advanced encryption standard to ensure your sensitive data remains impenetrable.

To round out the security features, Hodly Wallet has strict restrictions on access to sensitive information for staff. Additionally, it monitors and logs all access to the data of customers.

Conclusion

Hodly Wallet has support for the most popular cryptocurrencies and goes above and beyond other wallets by making it possible to send or receive crypto or to buy and sell it. The ability to purchase cryptocurrencies using a bank card is particularly useful since this makes it easier for more people to get into the world of cryptocurrency. The choice of an online wallet or the apps for Android and iOS also makes Hodly Wallet very accessible to all users.

The desktop and mobile apps are well designed and easy to use, the interface feels very fresh and modern so beginners should have no trouble at all using it.

Fees are higher than Coinbase, but Hodly has a larger amount of cryptocurrencies available to buy with Fiat. With that in mind, if you are looking to purchase ETH, LTC, BTC or BCH you would be best using Coinbase. If you need to buy XRP, ETC, BTG, ZEC, OMG, NEO, OTN, XLM or TRX with Fiat then Hodly is the better choice.

IQ Option are a large and well established company with huge revenues so it’s no surprise this is a well made crypto offering, we recommend you take a look if you would like to purchase additional cryptocurrencies with your bank card that are not available on Coinbase. If you are comfortable using traditional exchanges though, it would make sense to purchase Ethereum or Bitcoin via Coinbase and then trade for your required currency on another exchange.

Update: As of May 2020 The Hodly wallet no longer accepts new customers. You can still signup with their parent company IQOption.

My Wallet

How to buy crypto on iqoption.com

To buy crypto like Bitcoin, Ethereum, Ripple and other currencies you need create My Wallet, check the instruction below.

Video how to buy cryptocurrency

What is a Cryptocurrency?

Cryptocurrency it’s a digital currency controlled by special encryption technology. It serves as a digital storage of value and a medium of exchange. Cryptocurrencies are getting more popular with each year. The demand for them is ever increasing and so is the huge price.

Sure, purchasing crypto is absolutely legal. IQOption uses the most advanced security protocols and encryption techniques to make sure your funds are safe.

Where will the crypto be stored on Iqoption?

The crypto you purchase will be stored in your My Wallet on the IQOption platform. The My Wallet will be created automatically upon registration. You can always withdraw the cryptocurrency to an outside ewallet of your choice.

When I’m buying a crypto am I buying it from IQOption?

When you purchase a crypto on the IQOption platform the company purchases the amount for you from a crypto exchange.

What kind of crypto can i buy?

List of crypto: OTN, BTC, ETH, BCH, XRP, DASH, ETC, ZEC, OMG, QTUM, NEO, XLM, TRX, EOS, BTG. More crypto will be added soon

How can i buy crypto

After iqoption registration account you can buy crypto with your bank card and with your iqOption balance direcly from My Wallet page. If you don’t have account you can buy crypto by bank card: – Buy Crypto and create My Wallet

1 step. How select amount and how to buy?

First of all you need select crypto currency that you want to buy. After that you will be able select amount that you want to use to buy crypto. For example on 02 april 2020 for 1000 euro you can buy 0.171 bitcoin.

2 step. Account registration

If you don’t have account you need register iqoption account. You just need fill your email and the password. If you already have account you don’t need register account.

3 step. Buy crypto currency

On this step you need use your bank card to purchase crypto currency. You can buy crypto only if you have 3d secure on your bank card!

4 step. Already have Iqoption account?

If you already have iqoption account you can buy crypto directly from your balance, you just need visit your My Wallet page and select any crypto for purchase.

Also to secure your account, we suggest you to use 2-step authentication. Each time you log in to the website, the system will require you to enter a special code sent to your phone number.

Cryptocurrency CFD orders

All Cryptocurrency CFD orders are processed within the platform. While you can deposit in Bitcoin, you can not withdraw any crypto funds. All profit withdrawals are processed in fiat currencies.

What is cryptocurrency? you can find more info in the article: Cryptocurrency article

1 Comment

I use iqoption to buy crypto for a long time. My Wallet really great solution from Iq Option. So i store here my BTC and ETH and trade some times with iq trading tools.

Hodly Review – Is hodly.com scam or safe cryptocurrency exchange?

Trading Accounts & Conditions

Account type Leverage Minimum transaction Trading Fee Deposit Fee
Standard 1:1 $10 2.50% Unspecified

Hodly is a rather new cryptocurrency wallet, which will also allow users to convert fiat currencies to digital assets. The word exchange could be used to describe this service, but as its name suggests it targets “HODL” investors, more than active traders. The project seems very ambitious and while we found a few issues, they are mostly due to its age.

Hodly Advantages

Backed by IQ Option – the biggest issue in the world of crypto is counterparty risk (i.e. the risk of you dealing with a dishonest exchange). Hodly is a brand operated by IQ Option, a reputable binary options and forex broker, which is regulated by the Cyprus Securities and Exchange Commission (CySEC). When logging into Hodly, one uses his IQ Option account. While, this doesn’t make the wallet a regulated service (more explanation below), one can expect a trustworthy service, especially when it comes to the live support which we even tested.

Simple layout and an app – the entire user interface at Hodly is very simple and attractive to newcomers, much in the style of the parent company. A huge emphasis is placed on the convenience of their mobile app. That being the case, we still prefer looking at the desktop versions of all exchanges we review, so here is a preview of the dashboard:

How you can mange your funds (both fiat and digital)

2FA and 80% cold storage provided – when it comes to the security measures, Hodly does very well, offering two of the popular (and solid) features. Two-factor-authentication (2FA) means you can link your account with your smartphone. Afterwards a manual verification (via the appropriate third party app) will be required. Cold storage on the other hand, means a majority of the users’ coins will be held in offline wallets, which makes them much harder to access in case of a hack.

A lot of fiat payments and currencies – Hodly currently accepts deposits via Credit Card, Skrill, Netteler and Webmoney. This is a very extensive lineup for the cryptocurrecny space, where most companies either support credit cards or bank transfers (or only offer crypto-to-crypto trading). Furtthermore EUR, USD, GBP, RUB are the fiat currencies which you can store in your account.

Wallet is still not regulated – we briefly highlighted this in the beginning, but we have to expand upon it – Hodly isn’t regulated by CySEC. The renowned watchdog simply doesn’t have a framework for overseeing cryptocurrency exchanges (yet). Still, the mere fact, the people from IQ Option are behind this project is a massive positive, when compared to most exchanges.

New project – this is a negative, in the sense that Hodly hasn’t proven itself yet. Some technical issues may be expected before the team works out everything.

Fees aren’t disclosed – for us this was probably the biggest surprise, given the backing of an experienced company. While, it’s true one sees a rate, when placing an order on Hodly (and can compare it to the spot rates at other exchanges), we would have still preferred to see a detailed table with all the conditions. Luckily the live support was very swift and accurate:

What we were told, when we asked about the fees at Hodly

Costs only ok for entering crypto – the 2.5% fee charged, when trading is decent, for a fiat-to-crypto offer, but will not attract speculative traders. Then again this isn’t an exchange, but a wallet service with some exchange functionality.

Not suitable for trading – the mere name Hodly doesn’t sound like a place where you will go to speculate with Bitcoin – this is the venue where you HODL your long term investments. In case you are looking for a short term trading solution, some forex brokers (like IQ Option themselves) also provide crpto.

Hodly is a new cryptocurrency wallet, which also acts as an entry-level exchange. The brand is owned by IQ Option, a CySEC regulated binary options broker. This brings a lot of credibility to the project, even though time will be the ultimate judge. As of the time of writing, the multiple payment options and currencies (both fiat and digital) look very attractive.

Despite seeming like a credible wallet, Hodly is for the “HODL gang”, while speculative traders will prefer another service. As we mentioned in the review, some forex brokers allow you to trade with crypto-CFDs. Such an offer can be even safer than most exchanges, presuming you deal with a regulated company.

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Cryptocurrency Wallet Guide: A Step-By-Step Tutorial

Use this straightforward guide to learn what a cryptocurrency wallet is, how they work and discover which one’s are the best on the market. If you are looking for something a bit more in detail about cryptocurrencies please check out our course on it.

What is a Cryptocurrency Wallet?

Enjoy a free lesson from the Blockgeeks Library!

A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. If you want to use Bitcoin or any other cryptocurrency, you will need to have a digital wallet.

How Do They Work?

Millions of people use cryptocurrency wallets, but there is a considerable misunderstanding about how they work. Unlike traditional ‘pocket’ wallets, digital wallets don’t store currency. In fact, currencies don’t get stored in any single location or exist anywhere in any physical form. All that exists are records of transactions stored on the blockchain.

Cryptocurrency wallets are software programs that store your public and private keys and interface with various blockchains so users can monitor their balance, send money and conduct other operations. When a person sends you bitcoins or any other type of digital currency, they are essentially signing off ownership of the coins to your wallet’s address. To be able to spend those coins and unlock the funds, the private key stored in your wallet must match the public address the currency is assigned to. If the public and private keys match, the balance in your digital wallet will increase, and the senders will decrease accordingly. There is no actual exchange of real coins. The transaction is signified merely by a transaction record on the blockchain and a change in balance in your cryptocurrency wallet.

What are the different types of Cryptocurrency wallets?

There are several types of wallets that provide different ways to store and access your digital currency. Wallets can be broken down into three distinct categories – software, hardware, and paper. Software wallets can be a desktop, mobile or online.

  • Desktop: wallets are downloaded and installed on a PC or laptop. They are only accessible from the single computer in which they are downloaded. Desktop wallets offer one of the highest levels of security however if your computer is hacked or gets a virus there is the possibility that you may lose all your funds.
  • Online: wallets run on the cloud and are accessible from any computing device in any location. While they are more convenient to access, online wallets store your private keys online and are controlled by a third party which makes them more vulnerable to hacking attacks and theft.
  • Mobile: wallets run on an app on your phone and are useful because they can be used anywhere including retail stores. Mobile wallets are usually much smaller and simpler than desktop wallets because of the limited space available on mobile.
  • Hardware: wallets differ from software wallets in that they store a user’s private keys on a hardware device like a USB. Although hardware wallets make transactions online, they are stored offline which delivers increased security. Hardware wallets can be compatible with several web interfaces and can support different currencies; it just depends on which one you decide to use. What’s more, making a transaction is easy. Users simply plug in their device to any internet-enabled computer or device, enter a pin, send currency and confirm. Hardware wallets make it possible to easily transact while also keeping your money offline and away from danger.
  • Paper: wallets are easy to use and provide a very high level of security. While the term paper wallet can simply refer to a physical copy or printout of your public and private keys, it can also refer to a piece of software that is used to securely generate a pair of keys which are then printed. Using a paper wallet is relatively straightforward. Transferring Bitcoin or any other currency to your paper wallet is accomplished by the transfer of funds from your software wallet to the public address shown on your paper wallet. Alternatively, if you want to withdraw or spend currency, all you need to do is transfer funds from your paper wallet to your software wallet. This process, often referred to as ‘sweeping,’ can either be done manually by entering your private keys or by scanning the QR code on the paper wallet.

Are Cryptocurrency wallets secure?

Wallets are secure to varying degrees. The level of security depends on the type of wallet you use (desktop, mobile, online, paper, hardware) and the service provider. A web server is an intrinsically riskier environment to keep your currency compared to offline. Online wallets can expose users to possible vulnerabilities in the wallet platform which can be exploited by hackers to steal your funds. Offline wallets, on the other hand, cannot be hacked because they simply aren’t connected to an online network and don’t rely on a third party for security.

Although online wallets have proven the most vulnerable and prone to hacking attacks, diligent security precautions need to be implemented and followed when using any wallet. Remember that no matter which wallet you use, losing your private keys will lead you to lose your money. Similarly, if your wallet gets hacked, or you send money to a scammer, there is no way to reclaim lost currency or reverse the transaction. You must take precautions and be very careful!

  • Backup your wallet. Store only small amounts of currency for everyday use online, on your computer or mobile, keeping the vast majority of your funds in a high-security environment. Cold or offline storage options for backup like Ledger Nano or paper or USB will protect you against computer failures and allow you to recover your wallet should it be lost or stolen. It will not, however, protect you against eager hackers. The reality is, if you choose to use an online wallet there are inherent risks that can’t always be protected against.
  • Update software. Keep your software up to date so that you have the latest security enhancements available. You should regularly update not only your wallet software but also the software on your computer or mobile.
  • Add extra security layers. The more layers of security, the better. Setting long and complex passwords and ensuring any withdrawal of funds requires a password is a start. Use wallets that have a good reputation and provide extra security layers like two-factor authentication and additional pin code requirements every time a wallet application gets opened. You may also want to consider a wallet that offers multisig transactions like Armory or Copay . A multisig or multi-signature wallet requires the permission of another user or users before a transaction can be made.

Multi-currency or single-use?

Although Bitcoin is by far the most well-known and popular digital currency, hundreds of new cryptocurrencies (referred to as altcoins) have emerged, each with distinctive ecosystems and infrastructure. If you’re interested in using a variety of cryptocurrencies, the good news is, you don’t need to set up a separate wallet for each currency. Instead of using a cryptocurrency wallet that supports a single currency, it may be more convenient to set up a multi-currency wallet which enables you to use several currencies from the same wallet.

Are there any transaction fees?

There is no straightforward answer here.

In general, transaction fees are a tiny fraction of traditional bank fees. Sometimes fees need to be paid for certain types of transactions to network miners as a processing fee, while some transactions don’t have any fee at all. It’s also possible to set your own fee. As a guide, the median transaction size of 226 bytes would result in a fee of 18,080 satoshis or $0.12. In some cases, if you choose to set a low fee, your transaction may get low priority, and you might have to wait hours or even days for the transaction to get confirmed. If you need your transaction completed and confirmed promptly, then you might need to increase the amount you’re willing to pay. Whatever wallet you end up using, transaction fees are not something you should worry about. You will either pay minuscule transaction fees, choose your own fees or pay no fees at all. A definite improvement from the past!

Are cryptocurrency wallets anonymous?

Kind of, but not really. Wallets are pseudonymous. While wallets aren’t tied to the actual identity of a user, all transactions are stored publicly and permanently on the blockchain. Your name or personal street address won’t be there, but data like your wallet address could be traced to your identity in a number of ways . While there are efforts underway to make anonymity and privacy easier to achieve, there are obvious downsides to full anonymity. Check out the DarkWallet project that is looking to beef up privacy and anonymity through stealth addresses and coin mixing.

Which Cryptocurrency wallet is the best?

There is an ever-growing list of options. Before picking a wallet, you should, however, consider how you intend to use it.

  • Do you need a wallet for everyday purchases or just buying and holding the digital currency for an investment?
  • Do you plan to use several currencies or one single currency?
  • Do you require access to your digital wallet from anywhere or only from home?
  • Take some time to assess your requirements and then choose the most suitable wallet for you.

Atomic Wallet

Atomic Wallet is a new multi-asset custody-free solution for secure storage and management of BTC, ETH, XLM, XRP, LTC, and over 300 other coins and tokens. The crypto-assets and features are regularly updated. Private keys are securely encrypted on a user’s device, so one has full control over their funds. The desktop app is available for Windows, MacOS, Ubuntu, Debian and Fedora. Private alpha versions of Android and IOS mobile apps will be released in October, 2020. Atomic Wallet is a secure all-in-one, non-custodial cryptocurrency storage with a smooth and comprehensive interface. The wallet supports Atomic Swaps, a cutting-edge feature that helps users significantly save on fees. Atomic wallet also enables users to buy cryptocurrency with USD and EUR and exchange their assets at the best rates via Changelly or ShapeShift.

  • Pros: Handy interface, Optimum privacy & security, Decentralized, Multi-currency, Custody-free, Built-in Exchange, Bank cards accepted, 24/7 instant support.
  • Cons: Not all coins support Atomic swaps yet

Bread Wallet

Bread Wallet is a simple mobile Bitcoin digital wallet that makes sending bitcoins as easy as sending an email. The wallet can be downloaded from the App Store or Google Play. Bread Wallet offers a standalone client, so there is no server to use when sending or receiving bitcoins. That means users can access their money and are in full control of their funds at all times. Overall, Bread Wallet’s clean interface, lightweight design and commitment to continually improve security, make the application safe, fast and a pleasure to use for both beginners and experienced users alike.

  • Pros: Good privacy & security, beginner-friendly, simple & clean, open-source software, free.
  • Cons: No web or desktop interface, lacks features, hot wallet .

Mycelium

Advanced users searching for a Bitcoin mobile digital wallet, should look no further than mycelium. The Mycelium mobile wallet allows iPhone and Android users to send and receive bitcoins and keep complete control over bitcoins. No third party can freeze or lose your funds! With enterprise-level security superior to most other apps and features like cold storage and encrypted PDF backups, an integrated QR-code scanner, a local trading marketplace and secure chat amongst others, you can understand why Mycelium has long been regarded as one of the best wallets on the market.

  • Pros: Good privacy, advanced security, feature-rich, open-source software, free
  • Cons: No web or desktop interface, hot wallet, not for beginners

Exodus

Exodus is a relatively new and unknown digital wallet that is currently only available on the desktop. It enables the storage and trading of Bitcoin, Ether, Litecoins, Dogecoins, and Dash through an incredibly easy to use, intuitive and beautiful interface. Exodus also offers a very simple guide to backup your wallet. One of the great things about Exodus is that it has a built-in shapeshift exchange that allows users to trade altcoins for bitcoins and vice versa without leaving the wallet.

  • Pros: Good privacy & security, beginner-friendly, intuitive, easy to use, in-wallet trading, supports multiple currencies, open-source software, free.
  • Cons: Hot wallet, no web interface or mobile app

Copay

Created by Bitpay, Copay is one of the best digital wallets on the market. If you’re looking for convenience, Copay is easily accessed through a user-friendly interface on desktop, mobile or online. One of the best things about Copay is that it’s a multi-signature wallet so friends or business partners can share funds. Overall, Copay has something for everyone. It’s simple enough for entry-level users but has plenty of additional geeky features that will impress more experienced players as well.

  • Pros: Good privacy & security, multisig transactions, multiple platforms & devices, multiple wallet storage, beginner-friendly, open-source software, free
  • Cons: Can be slow & unresponsive, limited user support

Jaxx is a multi-currency Ether, Ether Classic, Dash, DAO, Litecoin, REP, Zcash, Rootstock, Bitcoin wallet and user interface. Jaxx has been designed to deliver a smooth Bitcoin and Ethereum experience. It is available on a variety of platforms and devices (Windows, Linux, Chrome, Firefox, OSX, Android mobile & tablet, iOS mobile & tablet) and connects with websites through Firefox and Chrome extensions. Jaxx allows in wallet conversion between Bitcoin, Ether and DAO tokens via Shapeshift and the import of Ethereum paper wallets. With an array of features and the continual integration of new currencies, Jaxx is an excellent choice for those who require a multi-currency wallet.

  • Pros: Good privacy & security, Multi-currency, wallet linking across multiple platforms, great user support, feature-rich, user-friendly, free.
  • Cons: The code is not open source, can be slow to load.

Armory

Armory is an open-source Bitcoin desktop wallet perfect for experienced users that place emphasis on security. Some of Armory’s features include cold storage, multi-signature transactions, one-time printable backups, multiple wallets interface, GPU-resistant wallet encryption, key importing, key sweeping and more. Although Armory takes a little while to understand and use to its full potential, it’s a great option for more tech-savvy bitcoiners looking to keep their funds safe and secure.

  • Pros: Good privacy, great security features, multi-signature options, solid cold storage options, free.
  • Cons: Only accessible via the desktop client, not for beginners.

Trezor

Trezor is a hardware Bitcoin wallet that is ideal for storing large amounts of bitcoins. Trezor cannot be infected by malware and never exposes your private keys which make it as safe as holding traditional paper money. Trezor is open source and transparent, with all technical decisions benefiting from wider community consultation. It’s easy to use, has an intuitive interface and is Windows, OS X, and Linux friendly. One of the few downsides of the Trezor wallet is that it must be with you to send bitcoins. This, therefore, makes Trezor best for inactive savers, investors or people who want to keep large amounts of Bitcoin highly secure.

  • Pros: Good security & privacy, cold storage, easy to use a web interface, in-built screen, open-source software, beginner-friendly.
  • Cons: Costs $99, a must-have device to send bitcoins

Ledger Nano

The Ledger Wallet Nano is a new hierarchical deterministic multisig hardware wallet for bitcoin users that aims to eliminate a number of attack vectors through the use of a second security layer. This tech-heavy description does not mean much to the average consumer, though, which is why I am going to explain it in plain language, describing what makes the Ledger Wallet Nano tick. In terms of hardware, the Ledger Wallet Nano is a compact USB device based on a smart card. It is roughly the size of a small flash drive, measuring 39 x 13 x 4mm (1.53 x 0.51 x 0.16in) and weighing in at just 5.9g.

Pros:

  • Screen/device protected by metal swivel cover
  • Multi-Currency support
  • 3rd-Party apps can run from the device
  • U2F support
  • When recovering a wallet from seed, the whole process can be done from the device without even connecting it to a computer!
  • Fairly inexpensive (

    Cons:

    • Not as advanced wallet software (no transaction labeling)
    • No ability to create hidden accounts
    • No password manager

    Green Address

    Green Address is a user-friendly Bitcoin wallet that’s an excellent choice for beginners. Green Address is accessible via desktop, online or mobile with apps available for Chrome, iOS, and Android. Features include multi-signature addresses & two-factor authentications for enhanced security, paper wallet backup, and instant transaction confirmation. A downside is that Green Address is required to approve all payments, so you do not have full control over your spending.

    • Pros: Solid security, multi-platform & device, multi-sig, beginner-friendly, open-source software, free.
    • Cons: Hot wallet, average privacy, the third party must approve payments.

    Blockchain (dot) info

    Blockchain is one of the most popular Bitcoin wallets. Accessing this wallet can be done from any browser or smartphone. Blockchain.info provides two different additional layers. For the browser version, users can enable two-factor authentication, while mobile users can activate a pin code requirement every time the wallet application is opened. Although your wallet will be stored online and all transactions will need to go through the company’s servers, Blockchain.info does not have access to your private keys. Overall, this is a well-established company that is trusted throughout the Bitcoin community and makes for a solid wallet to keep your currency.

    • Pros: Good security, easy to use web & mobile interface, well-known & trusted company, beginner friendly, free.
    • Cons: Hot wallet, weak privacy, the third-party trust required, has experienced outages.
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