Before we dive into the topic, however, it is very important from our point of view to have a basic understanding of cryptography (the technology behind cryptocurrencies) and wallets. Therefore, we will first give you a short theoretical introduction to the topic. If you are already well informed, you can skip this part of the post.

Create an EOS Account

If you want to buy EOS (click here to read our guide) and create a wallet, you will come across a peculiarity that will initially be very confusing for many beginners. You have to create an EOS account! While a few wallets have already integrated this step into their software, others do not, which is why external software must be used.

The “surprising” thing is that new accounts can only be created by someone with an existing account. If you don’t have a friend who has an EOS account, however, there are several websites and tools that can set up an EOS account for you for a fee. In addition, some wallets have already integrated this service to serve as a “friend”.

The best known site is currently: https://eos-account-creator.com/. In the following we want to explain the process to you briefly on the basis of the aforementioned website.

Once you have accessed the above website, you will need to specify an account name. An EOS Account Name must be exactly 12 characters long and may only consist of small letters and numbers up to 5. You can either make up your own name and check if it is still available or you can click on “I’m feeling lucky” to automatically generate a name.

Then you have to generate the Private and public keys for your EOS account. To do so, we recommend the “Simple javascript generator”, which can be seen in the middle part of the website. This generator generates a public key and a corresponding private key. The public key is public for everyone. The private key is your secret. Therefore you must write it down on a piece of paper and keep it safe. You can use the first pair of keys for the “Owner” addresses.

After you have entered the “Owner public key”, you have to use the generator a second time for the “Active” addresses. You can enter the public key again on the website (under “Active public key”). The “Active”-private key is again your secret!

The “Active” key is the key you will use for daily operations, such as interaction with dApps or money transfers. This is also the key that you can later enter into a wallet. If this key is compromised, there are “Owner” keys that you can use to restore control over your account and cancel outgoing transfers that have not yet been made, for example. The “owner” key is therefore also very important, since the person who owns it is the actual owner of the account. For both private keys, it is essential that you keep them safe offline.

The cost of creating an EOS account on the aforementioned website is currently USD 6.37 for payment by cryptocurrency or USD 8.44 for payment by credit card. Included in the price are 0.2 EOS strokes and 4 KB RAM delegated to your newly created account.

In the fourth step you can now download or set up an EOS Wallet. Please note, however, that some wallets have an EOS Account Generator integrated, so you can choose between the generator presented above and that of the wallet. If you have used the EOS Account Creator, you can also import the keys into (almost) any wallet.

The best EOS hardware wallets

Hardware wallets are by far the best option to store cryptocurrencies. They have the highest security standard and are more practical than paper wallets. While the private keys in hot wallets are connected to the Internet, in hardware wallets they are stored exclusively on the device.

Due to the architecture of the hardware wallet operating system, the private key stored in isolation will never have an conntection to the Internet even if an EOS transaction is released. The architecture makes it almost impossible for hackers to gain access to the private key.

In addition, hardware wallets are also very well protected if the device itself is stolen. All hardware wallets presented in the following section have both PIN and 2-factor authentication, making it very difficult to steal the stored EOS from the hardware wallet even in the event of physical theft.

For us hardware wallets are an absolute must-have if you want to invest in EOS or other cryptocurrencies in the long run. In relation to your investment the prices for a hardware wallet are very low. Even our test winner, the Ledger Nano X, is comparatively inexpensive with 120 euros. If this is too expensive for you, you should have a look at the Ledger Nano S, which costs only 60 Euro and offers an unbeatable price/performance ratio.

In the following box we have compiled a summary of the advantages and disadvantages of hardware wallets:

The best 3 Hardware Wallets in 2019

Hardware Wallet	Info	Test
Buy the Ledger Nano X*	⚡ OUR test champion: The Ledger Nano X ✅ Manage 100 cryptocurrencies simultaneously ✅ Compatible with more than 1,100 cryptocurrencies ✅ Bluetooth connection for mobile wallet ✅ New flagship of the market leader ⛔ Price: 119,90 € - in the middle range	Read our review
Buy the Ledger Nano S*	⚡ Best price/performance ratio: The Ledger Nano S ✅ Very good Price: 59,90 € ✅ Compatible with more than 1,100 cryptocurrencies ✅ Proven quality: more than 1.3 million units already sold ⛔ Manage max. 5 cryptocurrencies simultaneously	Read our review
Buy the Trezor Model*	⚡ 3rd place: The Trezor Model T ✅ Over 1,000 cryptocurrencies supported ✅ Proven quality from Trezor ✅ Firmware is not installed on the device until you start it ⛔ In comparison to the Nano X: less features and functions  ⛔ High price: about 180 €	Read our review

1.Ledger Nano X

The Ledger Nano X is our test winner of 8 hardware wallets we have tested. Of these 8 wallets, however, only three support the EOS cryptocurrency. One of these is the Ledger Nano X, which was launched on the market in May 2019 as the successor to the Ledger Nano S.

Compared to its predecessor, it has some new features. The most striking change is certainly the new Bluetooth function, which allows the Nano X to be paired with a smartphone. Via the Ledger Live App the Nano X can be operated like a mobile Smartphone Wallet.

Furthermore, the Ledger Nano X contains an improved security chip, which should make the hardware wallet even more secure. In addition, the Nano X has a much larger memory than the Nano S, which means that up to 100 apps for cryptocurrencies, security features, etc. can now be installed on the device. The fourth major change is the enlargement of the display, which makes it much easier to check the EOS address before releasing a transaction.

Conclusion: From our point of view there is currently no better hardware wallet than the Ledger Nano X! Ledger sets a new standard in terms of both functionality and operation that can be surpassed.

2.Ledger Nano S

Although the Ledger Nano S got replaced by the Nano X, there are still good reasons to buy the Ledger Nano S. It has been purchased more than 1.3 million times worldwide, which speaks for a very strong and reliable security of the wallet. So far, no cryptocurrencies have been stolen from the Nano S.

The second big plus point of the Nano S is the currently low price of only 59 euros. Who can live without the new functions of the Ledger Nano X and wants to manage only a small number of cryptocurrencies, e.g. only EOS and Bitcoin, gets a hardware wallet whose price/performance ratio is unbeatable.

3.Trezor Model T

Also in May 2019 SatoshiLabs has presented a new hardware wallet with the Trezor Model T. Just like Ledger, SatoshiLabs has completely redesigned its long-standing success model, the Trezor One, and launched a hardware wallet with numerous new features and improvements.

Compared to the Trezor One, the hardware wallet now supports significantly more cryptocurrencies, which is realized via the new Trezor Bridge software (which is only compatible with the Model T and not the Trezor One). It serves as a “bridge” between the Trezor Hardware wallet and numerous third-party software wallets. In the case of EOS, this is the less well-known Bloks.io Web Wallet. In addition, the Trezor Model T offers the following functions and new features:

• Touchscreen: The Trezor Model T has received a touch screen for releasing the transactions on the device.
• Firmware upgrade: The firmware (Trezor Core) has been completely renewed and improved from a security point of view.
• Faster processor: In addition, the new model has a faster processor, which makes operation even smoother.
• Micro SD card slot: A Micro SD card slot has also been added that can be used for data encryption.
• USB-C port: The old port has been replaced by a modern USB-C port.

Conclusion: The Ledger Nano X performs better than the Trezor Model T in a direct price/performance comparison. The Nano X is around 60 euros cheaper and also has more functions. Nevertheless, the Trezor Model T is one of the best hardware wallets on the market. Supporters of the Trezor wallets point out that, unlike Ledger, the code for all components of the Trezor hardware wallets is open source. It thus offers greater transparency.

The best EOS desktop- and mobile wallets

In contrast to hardware wallets, desktop and mobile wallets are hot wallets. These are programs that are installed on a computer or smartphone. After installation, EOS can be sent and received via the software. However, the wallets differ in some respects with regard to their functional scope.

While EOS specific wallets, such as the Greymass or SimplEOS Wallet, offer the advantage that they are fully compatible with the EOS ecosystem and can be used via decentralized applications (dApps) on the EOS blockchain, multi-coin wallets offer numerous other useful functions. Depending on which functions are more important to you, you should choose your wallet.

If one considers the security standard of desktop and mobile wallets and classifies them in a ranking, they can be classified between hardware and web wallets. Compared to web wallets, they have the advantage that the private keys are stored on your own computer and not on an external server. However, they do not offer by far the same security as a hardware wallet.

Desktop as well as mobile wallets are our top recommendation if you are looking for a free wallet for EOS. Below you will find an overview of the advantages and disadvantages:

Below you will find our top recommendations for secure and reputable EOS desktop and mobile wallets:

1.SimplEOS Wallet

The SimplEOS wallet was specially developed for the EOS platform and therefore offers all the functions provided by the EOS.io software. The wallet is developed by EOS Rio, a block producer of EOS, and is recognized as an ‘official’ EOS wallet by the EOS community and other block producers. The wallet only stores the private keys locally. In addition, they can be encrypted with a user-defined password of more than 10 characters. Another advantage is the very clear user interface, which is very easy to use.

The numerous functions of the SimplEOS wallet include:

• Support of airdrops of the EOS ecosystem
• Staking for RAM and bandwidth
• Voting for block producers
• Using EOS dApps
• Contact list and transaction history management
• Creation of multiple accounts
• Importing the Exodus wallet
• Integration of the Block Explorer EOS Flare

It is important to know that with the SimplEOS wallet you can also create an EOS account from within the Wallet. However, payment is only possible in EOS, so you must already own EOS on Binance or another cryptocurrency exchange in order to use this function.

Conclusion: SimplEOS supports practically all functions offered by the EOS ecosystem. In this respect, the SimplEOS wallet is clearly aimed at users who not only see EOS as an investment, but also want to participate in the EOS ecosystem. The software can be downloaded for the Windows, Linux and MacOS operating systems from the official website.

2.Infinito Wallet

The Infinito is a Multi-Coin-Wallet, which is only available as Smartphone version for iOS and Android and is developed by the Infinity Blockchain Group. The wallet was released in 2017 and has since been used by over a million users worldwide.

Since it is a hierarchically deterministic (HD) wallet, the security of the wallet can be rated as good. A password, touch ID and passphrase are available to protect the wallet. In addition, the private keys are stored locally on the user’s smartphone and not on centralized servers. A further security advantage is that the Infinito wallet has been audited by the IT security company Smart Dec.

The great strength of the wallet, however, are the numerous functions that set it apart from other multi-coin wallets and make it the best mobile EOS wallet:

• dApp-Browser for EOS: The dApp-Browser “App Square” enables the user not only to keep his cryptocurrencies, but also to use them in decentralized applications (dApps) of EOS, Ethereum, NEO, Ontology and the Binance Chain.
• Contact management: Frequently used crypto addresses can be stored in a kind of contact management.
• Touch-ID: Touch-ID can optionally be used to unlock the wallet.
• Multilingual: English, French, Russian, Korean, Vietnamese, Chinese and Japanese.
• QR code scanner: Addresses can be imported very easily using the QR scanner.
• Import and export of private keys: Any private key of all supported cryptocurrencies can be imported and exported.
• Crypto credit function: Cryptocurrencies can be loaned via the “crypto lending” function in order to earn passive income.
• Export transaction history: Display and export your own transaction history, filtered by date and cryptocurrency.

Beside these numerous functions there is only one big point of criticism! The Infinito wallet does not offer 2-factor authentication. Furthermore, you should know that the Infinito does not have an integrated EOS Account Generator, so you should use our recommendation, the ‘EOS Account Creator’.

3.Greymass EOS Voter wallet

The GreyMass EOS Voter is a light client and desktop wallet released by Team GreyMass, a block producer of EOS. The wallet was created in the first days of the EOS mainnet because the developers of GreyMass wanted to develop a simple EOS voting tool so that everyone could participate in the EOS Delegated Proof of Stake. In addition to the usual wallet functions, the wallet has the following features:

• Vote on the block producers: Via the wallet you can directly select a block producer you would like to support.
• CPU / Bandwidth Staking: You can stack your EOS for either bandwidth or CPU to get rights to use these resources on the network.

The security of the wallet is very good. When using the GreyMass Wallet, all transactions within the application are signed and the private keys are stored locally on the user’s computer and never transferred to third parties. If a local wallet password is specified, it will be encrypted with AES-256 encryption.

A disadvantage of the wallet is that it is designed to be particularly user-friendly. On the one hand the user interface is a bit confusing, on the other hand a download exclusively from GitHub in the form of a zip file is possible. Thus the installation can already be a first obstacle for beginners. In this respect, from our point of view the wallet is aimed more at advanced users who would like to participate in EOS Staking.

The GreyMass wallet is available via this link to GitHub for Windows and Mac: https://github.com/greymass/eos-voter.

4.Atomic wallet

If you see EOS as a pure investment, don’t want to use EOS decentralized applications and don’t want to participate in the voting of the EOS block producers, the Atomic wallet could be a very good choice for you. The Atomic wallet is a multi-coin-wallet , which addresses itself above all to users, who want to administer different cryptocurrencies in a Wallet.

With over 300 cryptocurrencies, the Atomic Wallet can meet this requirement perfectly. With the multi-coin-wallets there is hardly a Wallet, which can administer a larger number of different cryptocurrencies.

This is probably one reason why the wallet is so popular in the community. It was released in 2017 by Konstantin Gladych, CEO and co-founder of Changelly.com. Another reason is certainly that the developers have focused their development on three central demands of the crypto industry:

• Security,
• Anonymity and
• Decentralization.

In accordance with these requirements, both the private keys and transaction data are stored in encrypted form on the user’s terminal device. Neither the developers nor other third parties have access to it. The third requirement – decentralisation – is implemented by the fact that the wallet has integrated Atomic swaps.

This enables users to exchange cryptocurrencies directly with each other, peer-to-peer, without the need for a third party to act as an intermediary. For cryptocurrencies that are not yet supported via Atomic Swaps, the Atomic wallet provides the Changelly and ShapeShift services integrated into the Wallet.

In addition, the Atomic wallet has a cooperation with EOS, whereby an EOS account can be created from the wallet, as the following video shows.

The wallet is available on the official website for Windows, Mac, Ubuntu, Debian and Fedora. The mobile versions for iOS and Android are also available from the App Store and Google Play Store.

5.Exodus wallet

The Exodus wallet is also a Multi-Coin wallet that can manage more than 100 cryptocurrencies and display their value in over 30 different Fiat currencies. The wallet is one of the oldest Multi-Coin wallets on the market and was released in July 2016. The wallet has three main components:

• the Multi-Coin Wallet,
• a portfolio tracker (in 30 Fiat currencies)
• and an integrated exchange service from ShapeShift.

In addition to these functions, the Exodus wallet offers a good basic protection for your EOS. Neither the developers nor other third parties have access to your private keys, as they are stored locally and encrypted on your computer. However, in the crypto community there are also two criticisms of the wallet.

For example, the backup function by e-mail is criticized because sending by e-mail is classified as potentially insecure. On the other hand, the lack of the possibility of two-factor authentication is criticised. Both facts show that the security can be classified as rather mediocre, since attackers only have to hack the password via the e-mail backup and then already have full access to the wallet.

From the point of view of EOS users, there are also three other disadvantages:

• EOS Airdrops are credited to the account, but cannot (yet) be accessed or managed via the Exodus Wallet. The Airdrop tokens can only be viewed in EOS Block Explorer.
• Currently, it is not possible to vote for block producers within Exodus. For this you have to use another wallet like GreyMass Voter, SimplEOS or Scatter.
• It is currently not possible to create multiple accounts within Exodus.

If these are not K.O. criteria for you, you can follow the link, which will take you directly to the official website of the wallet (click here!). The wallet is available as desktop version for Windows, Mac and Linux. Smartphone versions for iOS and Android are also available.

The best online wallets for EOS

The great advantage of online wallets is that they can be set up very quickly and used immediately. Unlike the other wallets, no installation or backup is necessary. All users have to do is create an account and usually enter only a small amount of information.

It is important to know that there are two types of online wallets. The better known type are the wallets of the cryptocurrency exchanges. They offer the advantage that the user not only owns a wallet but can also use the trading platform to trade and buy cryptocurrencies. This is probably also the main reason why exchange wallets are among the most popular wallets, although they have some serious disadvantages.

Thus the private keys are stored by the cryptocurrency exchange. As a result, users must be confident that the vendor is storing EOS and other cryptocurrencies securely and protecting them from hacker attacks. The second type are EOS-based specific developments of online wallets. In this category there is currently no recommended wallet from our point of view, after the Scatter web wallet was discontinued and is now only available as a desktop version.

Below we have compiled an overview of all the advantages and disadvantages of online wallets:

1.Binance wallet

Binance is one of the best options for an exchange wallet if you want to trade with cryptocurrencies. Binance has earned a very good reputation over the past few years and is therefore very popular in the crypto community. Nevertheless, you should be aware that storing your EOS on Binance is the most insecure storage solution. The Private Keys are owned by Binance and are stored by the exchange on the company servers (or cold storages).

In May 2019, Binance experienced one of the biggest hacks (after Mt. Gox) in Bitcoin’s young history when 7,000 BTCs were stolen when a vulnerability in the Binance API was exploited. Even though Binance took responsibility for the hack, did not pass the loss on to its customers and significantly increased its security measures after the hack, this clearly demonstrates the vulnerability of exchange wallets.

Our tip is therefore that you should only use the Binance wallet as long as you actively trade in cryptocurrencies. For long-term storage, you should transfer EOS to another wallet, preferably a hardware wallet.

If you would like to register an account on Binance, you can do so via this link*.

2.eToro wallet

Our second choice is eToro, which, however, only appeals to residents outside of the US and UK (as of 01/2021). eToro is one of the largest CFD providers in the world and offers various cryptocurrencies in “physical form” as well as CFD (outside of the two aforementioned regions). Due to its high security standards and reputation, eToro can be a good option for custody in our view.

For more information, you can read our eToro review. If you want to sign up for the wallet, you can use this link (click here*) to create an account with eToro.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Below we have summarized the advantages and disadvantages of Web wallets:

Further important information about the EOS wallet test

The information presented was compiled to the best of our knowledge and experience. Therefore, you should gather more information yourself and test different wallets to find the best one for you.

If you have any questions or suggestions about our EOS wallet test, please leave us a comment. We’ll be glad to help you! If you liked this article about the best EOS Wallets, we would appreciate a positive review!

Der Beitrag The best EOS wallets put to the test | Review and guide erschien zuerst auf Crypto News Flash.

Before we delve deeper into the subject, it is very important that you have a basic understanding of cryptocurrencies, cryptography and crypto wallets. Therefore we would like to give you a short theoretical introduction. If you already know your way around, you can skip this part!

As mentioned earlier, transactions on the Monero Blockchain are automatically private. Unlike other cryptocurrencies, where anonymity in the form of private (i.e. encrypted) transactions is optional, i.e. must be selected, Monero always anonymizes all transactions in terms of transaction amount, recipient and destination address. However, this anonymity can be lost.

If you are looking for a Monero Wallet, you should always consider the following points:

• Monero’s storage on exchanges results in you revealing your IP address and your identity. Since most exchanges and brokers have to retrieve and store the personal data of their customers due to the Anti-Money-Laundering (AML) and Know-Your-Customer (KYC) laws, your anonymity is completely lost. Therefore, if you want to make private transactions, you should always use other wallets.
• It is also important to know if the wallet supports sub-addresses. These are very important because you can create different sub-addresses. The transactions then still go into the same wallet (as they are assigned to a public address) without the addresses being linked to each other. This prevents the sender of a transaction from linking further payments to your public address. Although the Monero protocol has supported sub-addresses since 2017, not all wallets offer this feature. You can find an overview of this in the article below.

Irrespective of anonymity, we would like to give you two more recommendations:

Our clear recommendation is therefore to set up one of the wallets presented below and to manage the Private Key yourself.

The best Monero hardware wallets

Cold wallets in the form of hardware Wallets are the safest and best option to store your Monero Private Keys. Of all wallet types, hardware wallets offer the highest level of security that individual investors can obtain. They are also more practical than a Monero Paper Wallet.

Hardware wallets provide the best possible protection because the private key is stored on the device in an isolated manner and never comes into contact with the Internet. Even if a Monero transaction is released, the private key signature is only executed on the hardware wallet. The operating systems of the devices are programmed so that only other components go online to communicate with the blockchain. This means that hackers have practically no way of intercepting the private key (e.g. via keylogger or phishing attack).

The best hardware wallets are not only protected against digital theft, but also against “analog” theft. If a thief steals the device, hardware wallets offer different security levels so that the cryptocurrencies cannot be stolen. Each of the three hardware wallets presented below requires both PIN activation and 2-factor authentication (if activated). This means that theft of stored private keys is virtually impossible, even in the event of physical theft.

Because of this, hardware wallets are by far the safest way to manage your Monero (XMR). Especially if you want to buy larger quantities of Monero, we think you can’t avoid buying a hardware wallet. The price (of 120 Euro) for our test winner, the Ledger Nano X, is not only fair, but in relation to your investment probably to be regarded as comparatively cheap.

In the following box we have compiled an overview of the advantages and disadvantages of hardware wallets:

The best 3 Hardware Wallets in 2019

Hardware Wallet	Info	Test
Buy the Ledger Nano X*	⚡ OUR test champion: The Ledger Nano X ✅ Manage 100 cryptocurrencies simultaneously ✅ Compatible with more than 1,100 cryptocurrencies ✅ Bluetooth connection for mobile wallet ✅ New flagship of the market leader ⛔ Price: 119,90 € - in the middle range	Read our review
Buy the Ledger Nano S*	⚡ Best price/performance ratio: The Ledger Nano S ✅ Very good Price: 59,90 € ✅ Compatible with more than 1,100 cryptocurrencies ✅ Proven quality: more than 1.3 million units already sold ⛔ Manage max. 5 cryptocurrencies simultaneously	Read our review
Buy the Trezor Model*	⚡ 3rd place: The Trezor Model T ✅ Over 1,000 cryptocurrencies supported ✅ Proven quality from Trezor ✅ Firmware is not installed on the device until you start it ⛔ In comparison to the Nano X: less features and functions  ⛔ High price: about 180 €	Read our review

1.Ledger Nano X

The Ledger Nano X is our test winner out of 8 different hardware wallets, which we tested personally. The wallet is the successor of the Ledger Nano S. After the Nano S has become a little bit older, Ledger presented the Ledger Nano X in May 2019, which offers numerous new features:

• Bluetooth function: The Ledger Nano X can be operated via smartphone (via the Ledger Live App) so that it can be used as a mobile wallet. The private keys are still isolated and securely stored on the hardware wallet.
• More memory space: The internal memory of the device has been significantly increased compared to the Ledger Nano S. The internal memory of the device has been increased by a large amount. The Nano X offers space for up to 100 apps in total, so that now up to 100 cryptocurrencies can be managed simultaneously (without installing and uninstalling apps).
• Larger display: In addition to the memory, Ledger has also enlarged the display. This allows the reception addresses to be shown completely on the display, so that scrolling, as with the Nano S, is no longer necessary.
• Improved security: The central component of the hardware wallet, the security chip, was completely revised and subsequently certified by the French cyber security authority ANSSI.

Insider knowledge: The Monero App was developed by Ledger in collaboration with the Monero community. Since Monero has two private keys due to its security features, both the “Private View Key” and the “Private Spend Key” required to output the XMR are stored on the Ledger device.

Conclusion: In our opinion the Ledger Nano X is currently the best hardware wallet on the market! The Ledger Monero App makes managing and sending Monero not only secure, but also very easy and straightforward. You can find more details about the Nano X in our detailed guide and review of the Ledger Nano X.

2.Ledger Nano S

The Ledger Nano S is already a few years old and was replaced in May 2019 by the Nano X as the current hardware wallet model. Nevertheless, we believe that there are still some good reasons for purchasing Ledger’s long-standing successful model.

The most obvious reason is the very low price of only 59 Euro. In addition, the Nano S is still one of the most secure and reliable hardware wallets on the market. The Nano S has already been sold more than 1.3 million times worldwide, which clearly speaks for the quality of the wallet. In addition, hackers have never managed to steal cryptocurrencies from the device since the release of the wallet.

Conclusion: If you can live without the new features of Ledger Nano X and only want to manage a small number of cryptocurrencies, Ledger Nano S is ideal for you. You get a hardware wallet whose price/performance ratio is unbeatable.

3.Trezor Model T

Almost at the same time as Ledger, SatoshiLabs has launched a new hardware wallet with the Trezor Model T. Just like Ledger, SatoshiLabs has completely reworked its long-standing success model, the Trezor One. As a result, some new cryptocurrencies are now supported with which the Trezor One is not compatible. This also includes Monero (XMR). Using Monero’s third party software – the Monero GUI Wallet and Monero CLI Wallet (via command line) – the Trezor Model T can now send and receive XMR.

In addition, the Trezor model has some other new features and improvements:

• Touchscreen: The Trezor Model T has a touch screen that must be used to release the transactions on the device.
• Firmware Upgrade: Trezor Core has been completely reworked and improved for security reasons.
• More powerful processor: The new Model T has a faster processor, which makes operation even smoother.
• Card slot for Micro-SD: Furthermore, a Micro-SD card slot has been added which can be used for data encryption.
• USB-C Port: The “old” USB port has been replaced by the new industry standard, USB-C.

Conclusion: In our opinion, the Ledger Nano X is a little bit better than the Trezor Model T in a direct price/performance comparison. This is because the Nano X is much cheaper. In addition, the Nano X has a few more features, offers more native apps, requires less third-party software, and is more intuitive to use. Nevertheless, the Trezor Model T is one of the best hardware wallets on the market. Due to the price of about 180 Euro the Trezor Model T only came in 3rd in our ranking.

The best Monero desktop wallets

Desktop wallets are hot wallets and are programs that are installed on a computer in order to manage, send and receive Monero (XMR) via them. If one compares the security level of the different wallet types in a ranking, desktop wallets are located between hardware wallets and online wallets. They are more secure than online wallets, but less secure than hardware wallets. Compared to online wallets, they have the very important advantage that the private keys are stored on the user’s own computer and not on a company server. Thus, the users of the Desktop Wallet and no third party, not even the developers of the Monero Desktop Wallet, have access to your crypto assets.

However, this advantage also entails a great deal of responsibility. Since the private keys are stored on the user’s own computer (encrypted), the user himself is responsible for protecting the private keys from hackers. Due to the (presumably) permanent connection to the Internet, there is an increased risk of malware. This means that it is very important to keep the computer up to date with security updates for the operating system. In addition, anti-virus and anti-spyware software should be installed as a matter of urgency and should be updated regularly. In order to increase anonymity, it is also recommended to use Tor and / or VPN.

If these instructions are followed, Desktop Wallet offer a very good security standard. From our point of view they are the best alternative if you are looking for a free wallet for Monero (XMR). Below we have created an overview of the advantages and disadvantages of a desktop wallet:

1.MyMonero Desktop Wallet

Within the Monero community, the MyMonero Desktop Wallet is one of the most popular wallets for XMR. One reason for this is that the wallet is published by the core developers of Monero and is also based on open source code. This allows the wallet to be considered very trustworthy and secure. As is to be expected, the MyMonero Desktop Wallet stores the private keys locally on the user’s computer, and not on the MyMonero servers.

Unlike some other Monero wallets, the MyMonero Wallet can be set up and used without much technical knowledge. So from our point of view the MyMonero Desktop Wallet is the best because it is the easiest to use Monero Wallet. However, MyMonero makes two small compromises for this purpose, which benefit the user friendliness.

Instead of synchronizing the blockchain locally on the computer, the wallet sends the once generated Private View Key to the MyMonero server to find incoming transactions. This has the disadvantage that if MyMonero’s servers are compromised, the Private View Key will be compromised. In the worst case, the hackers can see the transactions received via the address.

Due to the stealth addresses of Monero, the hacker cannot recognize where the transaction came from. However, it is not possible to send (i.e. steal) your Monero because this requires the Private Send Key, which is not sent to the MyMonero server. The advantage is that, unlike the Monero GUI Wallet or Cake Wallet, the user does not have to wait long for the Monero blockchain to synchronize with the wallet. A further, low risk is that the users of the wallet send the transactions to a remote server, which gives them the IP address of the computer for the transaction. To solve this problem, users can use Tor and / or VPN. Another disadvantage of the MyMonero Wallet is that it does not support sub-addresses.

In addition, the MyMonero Desktop Wallet has a few features that are very convenient for the “average user”. The wallet offers a function to drag and drop QR codes into the application to automatically fill in the transaction address and a function to store addresses in a contact book.

Conclusion: If you can live with the compromises of the wallet, then the MyMonero Desktop Wallet is a very good option. It is aimed in particular at newcomers and users who do not operate a full node and do not wish to download the entire blockchain. If this is a possibility for you, you should have a look at the Monero GUI Wallet, which is not quite as user-friendly, but does not have the risks presented.

The download file for the Wallet program can be found on the official MyMonero website.

2.Monero GUI Wallet

The Monero GUI Wallet is the official desktop client of Monero, which the core developers are continuously developing. There’s a catch, though. The Monero GUI Desktop Wallet is a full node wallet: this means that the users of the wallet have to download the complete Monero Blockchain (70 GB) and synchronize it continuously. For this, the wallet uses a “daemon” (i.e. a program) that runs permanently in the background to synchronize the wallet with the network.

For the permanent synchronization of the node with the network, considerable computer resources are also required, in particular bandwidth and computing power. The advantage, however, is that the users of the GUI Wallet can actively participate in Monero Mining. All you have to do is make a few settings in the wallet and you can start mining afterwards.

However, it should be noted that this is only really effective if the computer has a powerful multi-core processor and mining can use much of the computing power of the computer. In terms of anonymity and security, the Monero GUI Wallet is highly recommended as you can increase your anonymity even further compared to the MyMonero Wallet. This is how you send your transactions and thus your IP to the Monero blockchain via your own full node (and not via a remote server).

Also, you don’t have to trust MyMonero’s servers that they will not be compromised, and you are responsible for the security of your node. In addition, the Monero GUI Wallet includes a password that protects the Wallet file with the private keys on your computer. In addition, a 25 word recovery seed phrase can be created to recover the wallet in case of a defect using the recovery seed. Another advantage of the GUI Wallet is that it supports sub-addresses.

Conclusion: Unlike the MyMonero Wallet, the Monero GUI Wallet is by no means suitable for beginners! It has a relatively simple and clear user interface. Nevertheless, a certain basic technical knowledge is required. If you have this and a powerful multi-core processor, you can easily participate in the mining of XMR using the wallet. The wallet is available for Windows, Mac and Linux users on the official website.

3.Monero Guarda desktop und mobile Wallet

The Guarda Wallet is a Multi-Coin-Wallet that supports Monero and 50 crypto currencies. The Guarda Wallet can be used as a desktop or mobile wallet. Although Guarda also offers a web wallet, this is the least secure version. The strongest security offers the mobile or the Monero Desktop Wallet.

The private keys are stored either on your smartphone or on your PC, depending on which device you use. The wallet is easy to set up, so even beginners will quickly find their way around. The interface is simple and intuitive.

You can download the wallet from the official website.

3.Exodus Monero Wallet

The Exodus Wallet is one of the few (prominent) Multi-Coin wallets that supports Monero (XMR). It is one of the oldest Multi-Coin wallets and was launched in July 2016. Since then it has gained a broad user base. Currently the Exodus Wallet can send, receive and manage more than 100 different cryptocurrencies. In addition to the main function, the Multi-Coin-Wallet offers two other features in particular:

• a portfolio tracker (in 30 Fiat currencies)
• and an integrated exchange service from ShapeShift

The security and anonymity of the wallet is basically good. The private keys are stored locally and encrypted on the user’s computer and no personal data is requested before the download. Furthermore, neither the developers nor other third parties have access to the private keys. However, Exodus’s Multi-Coin Wallet also represents a compromise between usability and security. There are four problems associated with Monero that can affect your anonymity:

• Reuse of addresses: A disadvantage of the Exodus Wallet in connection with Monero is that it does not support sub-addresses.
• Closed source code: The wallet is not open source.
• Backup function via e-mail: Sending the backup by e-mail is potentially unsafe.
• No 2-factor authentication (2FA): Since there is no 2FA, hackers “only” need to crack the password via the e-mail and then have full access to the wallet.

Conclusion: To preserve your anonymity, you should rather choose one of the two wallets mentioned above to manage XMR on your computer. Due to the special features of Monero, the Exodus Wallet is rather unsuitable for sending and receiving Monero. Otherwise, you could jeopardize your privacy. However, if you consider Monero only as an investment and don’t value the anonymity features, the Exodus Wallet can be a good choice.

You can download the wallet from the official Exodus website (click here!). The Wallet is available as desktop version for Windows, Mac and Linux. Smartphone versions for iOS and Android are also available.

Mobile Monero wallets for iOS and Android

Mobile wallets have the great advantage that they can also be used on the road to manage XMR. In addition, they work on (almost) every smartphone, as the requirements are very low. In principle, they have a lot in common with desktop wallets, which is why many manufacturers now offer both a desktop and a smartphone version of their wallets.

This is not the case with Monero, however, as very few providers of multi-coin wallets have integrated Monero’s complex technology into their wallets, as is the case with desktop wallets. The following recommendations for iOS and Android are two Monero specific developments and a Multi-Coin-Wallet. Technically, mobile Monero wallets have the same advantages and disadvantages as mobile wallets for other cryptocurrencies. For example, the private keys (with reputable providers) are stored on the user’s smartphone, which gives the user control but also increased responsibility.

The topic of smartphones is even exacerbated by the fact that many smartphone users use public hotspots. In these public networks, the data to be transmitted (without own security measures) is not encrypted.

Therefore it is all the more important for mobile wallets to protect the smartphone with updates for the operating system and anti-virus and anti-malware software (if possible). In addition, a program for data encryption should be considered (VPN, Tor Browser, etc).

In the box below we have compiled an overview of the advantages and disadvantages of mobile wallets:

1.Cake Wallet (iOS)

If you own an iPhone and are looking for a Monero Wallet, the Cake Wallet is our first choice. Compared to the MyMonero Desktop Wallet, it even offers a higher level of security and anonymity, so you should consider whether you prefer the Cake Wallet to the Desktop Wallet!

The Cake Wallet offers the essential advantage that both the Private Send Key and the Private View Key never leave the smartphone. The Private View Key is not sent to an external server. In addition, the iOS operating system restricts access to the root level, making it more secure than most desktop computers. The only disadvantage of the Cake Wallet is that it must first synchronize with the Monero Blockchain. Depending on when the wallet was created or when the last synchronization was performed, this can take a considerable amount of time and bandwidth. If this is too complicated for you and takes too long, the mobile version of the MyMonero Wallet is the better (but unsafe) option for you.

Another advantage of the Cake Wallet (compared to the MyMonero Wallet) is that it has a number of practical functions, in addition to the usual wallet functions. The wallet has an integrated Monero Exchange Service, with which XMR can be exchanged for various other cryptocurrencies. Sub-addresses are also supported.

2.Moneroju Wallet (Android)

If you own an Android smartphone, the Monerujo Wallet is our top recommendation for you. The Monerujo App is an open-source wallet developed by the Monero community, which is recommended by the Monero developers on the official Monero website and can be classified as very serious and safe. This is partly due to the fact that it is open source software and the source code can be viewed on GitHub. On the other hand, the wallet stores Monero’s private keys only on the smartphone and not on any corporate servers. Another advantage of the Monerujo Wallet is that it supports sub-addresses.

Like the MyMonero Wallet, the Monerujo Wallet is a Light Client. This means that you don’t have to download the entire Monero blockchain, which is great from a usability point of view as there are no long waiting times during synchronization. The disadvantage, however, is that the Monerujo Wallet must use remote nodes to synchronize with the Monero blockchain. This causes the same “problems” that we have described in detail in the MyMonero Desktop Wallet:

• the (unique) Private View Key reaches an external server
• the IP address of the user can be linked to the transaction

Both “problems” can pose a security risk to anonymity, even if the risk is rather low. In particular, the second problem can be solved by using a VPN and / or Tor.

3.Edge Wallet (iOS und Android)

The Edge Wallet is a Multi-Coin-Wallet, which is available for both Android and iOS. Besides Monero, it can manage 17 other cryptocurrencies and store their private keys. Among the mobile wallets, it is some of the few wallets that support XMR. A feature that sets the wallet apart from other competitors is the ability to transfer US dollars and euros to the wallet and buy Monero.

In addition, it has a good safety standard. This allows 2-factor authentication, a PIN and a Touch ID to be set up to protect the account. In addition, client-side encryption ensures that the private keys are always encrypted and protected against malware. Very practical for owners of several smartphones is also that the wallet can be used from several end devices. In addition, several wallets can be set up per account. Nevertheless, both the Cake Wallet and the Monerujo Wallet are safer.

However, if you are looking for a mobile multi-coin wallet for Monero, the Edge Wallet is the best choice as the Edge Wallet uses the MyMonero backend. To download the wallet, you can visit the official website of the Edge Wallet (click!).

The best Online wallets for Monero

Online wallets are the fastest wallets to set up as they do not require any installation or backup. Often the creation of an account is enough to be able to use the wallet with all its functions. This is also one of the main reasons why online is so popular, even though it basically offers the lowest level of security.

This is especially true for wallets on cryptocurrency exchanges, which offer the advantage that the user does not have to worry about anything (except sending). However, users transfer ownership of the private key and thus of the cryptocurrency to the trading platform. Since exchanges are a popular target for hackers, the user of the platform must fully trust that the cryptocurrencies are securely stored and protected.

Beyond the exchange wallet, there are also specific online wallets for Monero that offer much better protection than exchanges. In this category we would like to mention the very popular MyMonero Online Wallet, which we will introduce in more detail below. But first we would like to show you the (general) advantages and disadvantages of online wallets:

1.MyMonero Web Wallet

The MyMonero Web Wallet is a web-based user interface that can be compared to the MyEtherWallet. Like the desktop and mobile versions, it is released by Monero’s core developers and is very popular within the Monero community. The big advantage of the Wallet is the very fast setup, which is done with a short registration, i.e. the creation of an account. All users need is a web browser and an internet connection.

As far as the security of the wallet is concerned, it should be noted that MyMonero basically offers good security and anonymity (to the same extent as the desktop and smartphone versions). Thus, no information is stored on the MyMonero servers. In addition, the private keys are stored exclusively encrypted in the web browser. The main point of attack that all web wallets have is the login. Hackers can create phishing websites that look identical to the original and steal access data and private keys.

Therefore, the MyMonero Web Wallet should be used for smaller amounts of XMR. For long-term storage of Monero, you should use a hardware wallet or other top recommendation from us. You can find the wallet on the official MyMonero website (click here!).

2.Binance Wallet

As described at the beginning, exchange wallets should never be used for the storage of Monero (XMR), as they lose the anonymity that Monero offers by default. Generally speaking, exchange wallets offer the lowest level of security. Nevertheless, Binance can be a good choice if you consider Monero merely as an investment and the loss of anonymity is not important to you. Then Binance, as one of the world’s largest and most popular exchanges, can be a good option to trade over 150 cryptocurrencies, including Monero (XMR).

Apart from the lack of anonymity, you must also be aware that the Binance Wallet is an online wallet – with all the disadvantages we have described above. The private keys are owned by Binance and stored by the exchange. The security of your Monero is therefore in the hands of Binance. In May 2019, one of the biggest exchange hacks (after Mt. Gox) in the still young history of Bitcoin, when 7,000 BTCs were stolen by Binance, showed how insecure online wallets of exchanges are – even when it comes to renowned exchanges (such as Binance). Our urgent recommendation is therefore that you only use the Binance Wallet as long as you trade cryptocurrencies.

If you would like to register an account on Binance, you can do so via this link*.

In the following we have summarized the most important aspects of the use of Web wallets:

Monero wallets with Sub-Adress function

Below you will find an overview of the wallets we have tested and whether they support sub-addresses:

The best Monero Paper Wallet

Paper wallets are considered to be very secure in the Crypto community, as the Monero are “stored” offline on a sheet of paper. This makes them a good alternative to cold wallets, which are not free of charge. Since the password, address and private key are stored on a piece of paper, hackers cannot access these data.

If you want to send your Monero from your Wallet to another destination adress, you have to use a Web Wallet like MyMonero. Apart from that you can receive XMR anytime, even if you are offline. Therefore the sender just needs to know your XMR receiving adress.

1.Moneroaddress.org

Moneroaddress.org is the best known paper wallet service that generates Monero’s two private keys, a public address and a mnemonic seed for recovery. After the generation you can print the data and keep the note offline so that no hacker can gain access to your Monero (XMR).

When creating the Wallet, make sure that your PC is free of malware and that you visit the right website (danger of scam!)

Further important information about the Monero Wallet Test

The information in this article has been compiled by us to the best of our knowledge and experience. However, despite all efforts, you should always gather further information and test different wallets to find the best wallet for you.

If you have any questions or suggestions regarding our Monero Wallet review, please feel free to leave us a comment. We’ll be glad to help you! We would also be happy if you would give us a positive rating if you liked the article.

Der Beitrag The best Monero (XMR) wallets for private transactions – Guide and review erschien zuerst auf Crypto News Flash.

The difference between both types is the connection to the Internet. Cold wallets carry that name because they have no connection to the Internet. On the other hand, hot wallets have a permanent connection to the Internet, which is why they are considered unsafe in regards of security reasons. This is because hot wallets can be attacked by hackers via the Internet connection. cold wallets doesn’t have this point of attack for hackers.

The security of cold wallets is therefore much safer than that of hot wallets. This is also the reason why large crypto investment companies and cryptocurrency exchanges store the majority of their customers’ money on cold wallets.

You should take this as an example! In the private customer segment, cold wallets can be purchased in the form of hardware wallets or created in the form of free paper wallets. The former are devices that are usually not much larger than a USB stick and can be used to manage Bitcoin and various Altcoins.

You should also know that the hot wallets can also be divided into various other subcategories. These types have in common that the “Private Keys” are stored on different media. The subcategories of hot wallets are:

We’d also like to give you two pieces of advice first: Before you buy Litecoin (click here to read our guide), you should know which wallet you would like to use for storing Litecoin (LTC) in order to provide the external wallet address during the purchase process. This will allow you to save time and fees if necessary.

You should also be aware that storing your Litecoin (LTC) on the wallet of an exchange or broker is always the worst and least secure alternative. If you choose to do so, you give control of the private key to the trading platform. Our advice is therefore to set up an external wallet and to manage the private keys yourself.

Litecoin hardware Wallets

Hardware wallets are the de-facto standard when it comes to the secure management of large amounts of cryptocurrencies. Compared to all other wallet types they have the highest safety standard as cold Wallet! Litecoin’s private key does not come into contact with the Internet in a hardware wallet.

This is exclusively stored on the hardware Wallet! This means that the private key is not connected to the Internet even if an LTC transaction is released – the release takes place on the device. hardware wallets are thus very effectively protected against phishing attacks and other malware, as only other components of the hardware wallet are connected to the Internet. A theft of the Litecoin private keys from the hardware wallet is almost impossible.

In addition, hardware wallet also provide very good protection if the device itself is stolen. The hardware wallets presented below all have an additional authorisation by means of a PIN. In addition, some hardware wallets have the ability to set up an additional layer of security through 2-factor authentication. This makes the devices very difficult to hack even in the event of theft.

From our point of view, the purchase of a hardware wallet is always recommended if you invest larger amounts in Litecoin. Even the price for our test winner, the Ledger Nano X (around 120 euros) is probably rather low compared to the amount you probably invested. In the following box we have summarized the advantages and disadvantages of hardware wallets:

In the following we introduce you to five Litecoin hardware wallets. If you would like to know more about the individual wallets, we recommend that you read our detailed test reports on the hardware wallets.

The best 3 Hardware Wallets in 2019

Hardware Wallet	Info	Test
Buy the Ledger Nano X*	⚡ OUR test champion: The Ledger Nano X ✅ Manage 100 cryptocurrencies simultaneously ✅ Compatible with more than 1,100 cryptocurrencies ✅ Bluetooth connection for mobile wallet ✅ New flagship of the market leader ⛔ Price: 119,90 € - in the middle range	Read our review
Buy the Ledger Nano S*	⚡ Best price/performance ratio: The Ledger Nano S ✅ Very good Price: 59,90 € ✅ Compatible with more than 1,100 cryptocurrencies ✅ Proven quality: more than 1.3 million units already sold ⛔ Manage max. 5 cryptocurrencies simultaneously	Read our review
Buy the Trezor Model*	⚡ 3rd place: The Trezor Model T ✅ Over 1,000 cryptocurrencies supported ✅ Proven quality from Trezor ✅ Firmware is not installed on the device until you start it ⛔ In comparison to the Nano X: less features and functions  ⛔ High price: about 180 €	Read our review

1.Ledger Nano X

In our comparative test, in which we tested 8 different hardware wallets, the Ledger Nano X became our test winner. This model is the successor to the Ledger Nano S. Ledger’s successful model has been sold more than 1.3 million times worldwide.

In May 2019, after several years, Ledger launched a significantly improved model with numerous new features. The biggest and most popular innovation is the Bluetooth function, with which the Nano X can be connected to a smartphone. Via the Ledger Live App the wallet can be operated like a mobile Smartphone Wallet, only that it offers the same security as a cold wallet.

In addition, the Ledger Nano X has three more new functions or changes. It has a much larger memory than the Nano S, and can manage up to 100 cryptocurrencies simultaneously. Furthermore, the display was slightly enlarged. This means that Litecoin addresses can now be shown on the display without scrolling, which makes it much easier to check the LTC address. Finally, an improved safety chip was also installed.

Conclusion: From our point of view there is no hardware wallet for Litecoin that can compete with the Ledger Nano X in terms of functionality and ease of use!

2.Ledger Nano S

Even though the Ledger Nano S is no longer Ledger’s newest model, there are still good reasons to buy it. The Nano S continues to be one of the most secure hardware wallets on the market. Those who can do without the new and extended functions of the Nano X and only want to manage a small number of different cryptocurrencies, e.g. only Litecoin and Bitcoin, will receive a hardware wallet with an unbeatable price/performance ratio (at a current price of 59 EUR).

3.Trezor Model T

Almost at the same time as the Ledger Nano X, SatoshiLabs also presented its successor for the Trezor One in May 2019. Just like the Nano X, the Trezor Model T comes with some new features and improvements that make the wallet one of the best on the market. The Trezor Model T, for example, has a touch screen on which all transactions must be confirmed. In addition, the firmware (Trezor Core) has been completely revised and improved for security reasons.

Furthermore, the Model T has a faster processor, so that the operation runs even smoother. In addition, there is a micro SD card slot for data encryption and a modern USB-C port for connecting to a computer. Compared to the Trezor One, the Model T can thus be classified as a premium version of SatoshiLabs.

In a direct price/performance comparison, however, the Ledger Nano X performs better. The Nano X is much cheaper than the Trezor Model T and also has the better complete package. This makes the Ledger software a little easier and more intuitive to use. In addition, the Nano X has a few more functions. Nevertheless, the Trezor Model T is an excellent hardware wallet, which also has some advantages over the Nano X.

4.Trezor One

The Trezor One was launched in 2014 by SatoshiLabs and is the oldest hardware wallet on the market! According to SatoshiLabs it should be the most trustworthy and secure hardware wallet in the world.

It is a fact that the Trezor One has already been sold over a million times, which clearly speaks for the quality of the wallet. Due to its low price, the Trezor can be a very inexpensive and good alternative to more expensive hardware wallets, especially for newcomers.

5.Digital Bitbox

The Digital BitBox is a cheap and very small hardware wallet which supports Litecoin as well as Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and all ERC20 tokens. The minimalist device generates a wallet (bip32) during the starting process by the integrated microcontroller. A very practical security feature is the slot for a micro SD card, which can be used to create an offline backup for recovery.

You should know this about hardware wallets:

Litecoin desktop wallets

Desktop wallets belong to the hot wallets. As the name suggests, this type of wallet is a program (software) that is installed on a computer to send and receive Litecoin.

Compared to online wallets, they offer the significant advantage that the private keys are not stored on a company server but on the user’s own computer. Thus they offer the possibility to keep the sole control over your Litecoin without having to buy a hardware wallet.

However, there is also a certain responsibility involved. Since the private keys are stored on your own computer, it is essential to keep your computer up to date with updates and good anti-malware software.

Due to the (presumably) permanent connection to the Internet, there is an increased risk of becoming a victim of a phishing attack, for example. Nevertheless, the protection is significantly higher compared to online and web wallets. desktop wallets are from our point of view the best alternative if you are looking for a free wallet for Litecoin.

Below we give you an overview of the best desktop wallets for Litecoin in 2019, but first of all we would like to present you again the advantages and disadvantages of desktop wallets compared to the other types of wallets:

Below you will find our top recommendations for a safe and serious Litecoin desktop Wallet:

1.Electrum LTC Wallet

The Electrum LTC wallet is a fork of the very popular Bitcoin Electrum wallet (which is also our top recommendation for a Bitcoin Wallet). The code for the Electrum Bitcoin wallet was already released in 2011 and was later forced (adapted) as Litecoin version. It is important to know that the Electrum LTC is not an official product of Electrum Technologies GmbH, but a joint project of various developers who have developed the wallet as open source software on a desktop basis.

In contrast to the Litecoin Core Wallet, the Electrum LTC wallet is a lightweight client that does not require the download of the entire Litecoin blockchain, but uses a specialized server that indexes the blockchain. This makes the wallet available immediately after the download.

As a deterministic wallet, the Electrum LTC wallet also provides very good protection by offering the ability to create a 12-digit seed passphrase. In addition, the private keys and the seed are stored encrypted on the hard disk of the computer and are not passed on to third parties (e.g. the Electrum servers).

The design of the Electrum LTC is simple and intuitive. Nevertheless, the wallet offers numerous functions, so that it is suitable for all users from beginners to advanced. It is also practical that the same wallet can be used on separate systems as the wallet synchronizes itself automatically.

The Electrum LTC is available for Windows, Mac and Linux and can be downloaded from this link (click).

2.Guarda Desktop- and mobile Wallet

The Guarda Wallet offers the possibility to store and manage more than 50 different cryptocurrencies, including Litecoin. The Wallet is available as desktop and mobile version. There is also a Google Chrome extension. In addition, Guarda also offers a web wallet, which is the least secure of the options available.

The download as well as the first setup is fast and easy. The subsequent use is completely free of charge, only the normal network fees for sending transactions of the Litecoin Blockchain apply.

Your private keys are stored on your computer or smartphone so that only you have access to them. Make sure you use an up-to-date virus program so that hackers and phishing attacks are detected early in an emergency.

The Guarda Wallet has a built-in feature that allows users to purchase cryptocurrencies by credit card. Guarda works together with the payment service provider Simplex (Binance and KuCoin also use Simplex). In addition, a connection can be established with the Ledger Hardware Wallet when using the Web Wallet.

You can download the wallet from Guarda’s official website.

3.Atomic wallet

The Atomic wallet is a Multi-Coin-Wallet, which can manage more than 300 different cryptocurrencies and is available as desktop as well as mobile version for the smartphone. The developers of the Atomic wallet have focused their development on security, anonymity and decentralization.

As a result, the Atomic wallet is also very popular, although it was not launched until 2017. Another advantage of the wallet is that it is published by the well-known developer, Konstantin Gladych, who is also CEO and co-founder of the crypto exchange platform Changelly.com.

In accordance with the focus on security and anonymity, the wallet stores the private keys as well as the transaction data encrypted on its own computer. Neither the developers nor other third parties have access to this data. A very useful function, from which the wallet gets its name, are the Atomic Swaps.

These enable the direct exchange of (supported) cryptocurrencies between two persons, peer-to-peer, without an exchange platform being involved. For cryptocurrencies that cannot yet be exchanged via Atomic swaps, the wallet provides the possibility to use Changelly or ShapeShift from the wallet to exchange cryptocurrencies.

Our experience with the Atomic wallet is consistently positive. Especially if you are looking for a Multi-Coin-Desktop-Wallet which also supports Litecoin, the Atomic wallet is our top recommendation.

You can download the wallet under this link. It is available as desktop version for Windows, Mac, Ubuntu, Debian and Fedora. There are also mobile versions for iOS and Android in the respective App Store.

4.Jaxx Liberty wallet

The Jaxx Liberty is a wallet, which can manage 80 different cryptocurrencies and is available as desktop and smartphone version. Both the predecessor and the new version with the suffix “Liberty”, which was released in 2019, were developed by Anthony Di Iorio, a co-founder of Ethereum. Due to its famous name – Di Iorio – the wallet enjoys an excellent reputation in the crypto scene.

But not only because of that the Jaxx Liberty wallet is very popular, but also because of its numerous functions, as well as the good security. As with the Atomic Wallet, neither the developers nor third parties can access your “private keys”. These are encrypted and stored locally on the user’s computer.

Very important is also the easy way to create a backup in case your computer breaks down. Another advantage of the wallet is its outstanding support, which is highly praised in numerous online forums and is available around the clock.

If you want to download the wallet, you can click this link to the official website where both the desktop and mobile versions and a web browser version are available. You can choose between a Mac and Windows version, as well as a browser extension for Google Chrome. You can also download the mobile versions for your Android or iOS smartphone from the App Store.

5.Exodus wallet

The Exodus wallet is a Multi-Coin Wallet, which was launched in July 2016 by Daniel Castagnoli and JP Richardson. Since then the Exodus wallet has firmly established itself in the crypto market and developed a large user community. The wallet is particularly popular because it is very easy and intuitive to use.

It was also one of the first known multi-join wallets. Currently, the Exodus wallet can send and receive more than 100 cryptocurrencies and display their values in over 30 different Fiat currencies.

The wallet has three main components that are very practical and easy to use:

• the Multi-Coin Wallet,
• a portfolio tracker (in 30 Fiat currencies)
• and an integrated exchange service from Shapeshift.

A very big advantage of the Exodus wallet is also very good customer support. In addition to an extensive FAQ area (including videos) there is the possibility to contact the Exodus team via e-mail, Twitter, Facebook and Slack channel. Furthermore, the security of the Exodus wallet can also be rated as good. Neither the developers nor other third parties have access to your “private keys”. These are encrypted, stored locally on your computer.

In the crypto community, however, there are two criticisms of the Exodus that we don’t want to withhold from you. Firstly, the backup function via e-mail is criticised because, although this is very convenient for the user, it also represents a security vulnerability. Second, the Exodus wallet does not have two-factor authentication. If both “problems” are considered together, hackers “only” have to crack the password, e.g. using a keylogger. Afterwards they already have full access to the wallet.

If you consider this to be uncritical, you can follow the link below which will take you directly to the Wallet’s download page (click here!). The wallet is available as desktop version for Windows, Mac and Linux. Smartphone versions for iOS and Android are also available.

6.Litecoin Core wallet

The Litecoin Core wallet is the official full node client of the Litecoin project, which is supported by the Singapore-registered Litecoin Foundation and led by the directors Charlie Lee, Xinxi Wang and Franklyn Richards. The wallet, which was formerly known as Litecoin-QT, is aimed exclusively at advanced crypto investors and Litecoin miners.

Since the wallet is the Full Node Client, the entire blockchain must be downloaded and permanently synchronized, so appropriate hardware is required. The advantage of the Litecoin Core wallet is that, unlike other wallets, all protocols and rules required for accessing the Litecoin blockchain are implemented. It is also open source software that is regularly updated by the Litecoin development team to make it easier for anyone to use and more stable and secure.

The range of functions includes all the functions you would expect from a wallet. The wallet can be used to store, send and receive LTC and to view the transaction history. Furthermore, the Litecoin-Wallet can be encrypted for additional security and thus the private and public keys can be securely stored on your own computer.

The Litecoin Core wallet is available for Windows, MacOS and Linux and can be downloaded from this link.

Mobile Litecoin wallets

Mobile wallets have the advantage that, as the name suggests, they can be installed on ordinary smartphones. So you can access and send your Litecoin from any place in the world where there is an internet connection via smartphone.

Technically, mobile wallets have a lot in common with desktop wallets. So the private keys (usually) are also stored encrypted on your device, here your smartphone. Many desktop vendors now also offer a version for the smartphone.

Due to these similarities, however, they have the same problem as desktop wallets: There is a permanent Internet connection, through which hackers can access the private key. This topic is exacerbated even further with smartphones, because many users use public hotspots in cafés and restaurants, for example, where data is usually transmitted unencrypted.

This is another reason why it is particularly important to protect your smartphone with regular updates and, if necessary, anti-malware software. On the other hand, they also offer the same advantages as desktop wallets. In the following we have created an overview:

1.LoafWallet

The LoafWallet is the official mobile wallet for the cryptocurrency Litecoin, which was launched by Charlie Lee, the inventor of Litecoin and is now being further developed by the Litecoin Foundation. It is an independent Litecoin Wallet, which can only send and receive Litecoin (LTC) and is now available for free download for both iOS and Android in the respective App Store.

A big advantage of the LoafWallet is that it is developed by the Litecoin Foundation. Because of this the wallet is always up to date and is regularly updated. No personal data is required to download the wallet.

In addition, it also has good privacy, since the private keys are stored exclusively on the user’s terminal device and not on external servers. In order to increase the security of the LoafWallet, users can create a PIN and passphrase to have a backup option in case the terminal device breaks down.

Another plus point when considering security is that the Loafwallet has no servers that can be hacked or go offline, so users can access their money anytime, anywhere. The LoafWallet connects directly to the Litecoin network and also offers strong performance with “Simple Payment Verification” (SPV mode). Very simple and useful is also the feature to import existing Litecoin wallets quickly and easily. In case of problems there is also a reliable support which can be contacted on Twitter, Google+ and Reddit.

2.Atomic wallet

As with the desktop Wallets, the Atomic wallet is our Top 2 recommendation in the wallets category for your smartphone. The wallet is especially useful if you are looking for a Multi-Coin-Wallet which is not only able to manage Litecoin. The mobile version of the Atomic wallet is the same as the desktop wallet.

Accordingly, it also offers the same advantages. Thus over 300 different cryptocurrencies can be managed. In addition, the private keys and transaction data are stored encrypted on your smartphone. This means that neither the developers nor other third parties have access to it. The smartphone version also has Atomic swaps, as well as the option of using the exchange services of Changelly or ShapeShift.

You can download the wallet from the official website. In addition there are the iOS and Android versions in the respective App Store.

3.Jaxx Liberty wallet

The mobile version of the Jaxx Liberty wallet is identical to the desktop version, except that it is programmed for iOS and Android. Accordingly, the security and anonymity of the mobile Jaxx Liberty wallet can also be classified as very good.

Neither the developers nor third parties have access to your private keys, as they are stored encrypted on the user’s smartphone. In addition, the mobile version also offers a very simple way to create a backup. Otherwise, the same advantages from the description of the Jaxx desktop Wallet apply.

You can download the versions for your Android or iOS smartphone from the App Store.

4.Coinomi wallet

The Coinomi wallet is also a Multi-Coin-Wallet, which is suitable for iOS and Android operating systems and can store Litecoin (LTC) and over 275 other cryptocurrencies. It is one of the oldest multi-join wallets on the market and was released in 2014. Since the release, both the desktop and mobile versions have been downloaded by over a million users.

In addition to the very large number of coins, the wallet scores particularly well in the area of privacy. Besides the usual features for a good privacy – the private keys and transaction data are stored locally on your device – the wallet offers an integrated encryption for the IP addresses of the users.

Another useful function is the connection of the wallet to the Coinomi cryptocurrency exchange of the same name. Thus cryptocurrencies can be traded directly out of the wallet. However, there is also a point of criticism with the Coinomi wallet. It doesn’t offer two-factor authentication. Beyond password protection, a second security layer is therefore lacking. If attackers succeed in hacking the user’s computer, a keylogger is sufficient to steal the password and thus gain full access to the wallet.

If you want to use the wallet, you can download it from the official website (click!).

5.Edge wallet

The Edge wallet is only available for Android and iOS. In addition to Litecoin, it can manage 17 other cryptocurrencies. A feature that sets the wallet apart from other competitors is the possibility to transfer US dollars and euros to the wallet and thus buy Litecoin. In addition, it has a good safety standard.

This allows 2-factor authentication, a PIN and a Touch ID to be set up to protect the account. Very practical for owners of several smartphones is also that the wallet can be used from several end devices.

To download the wallet you can visit the official website of the Edge wallet (click!).

Litecoin online wallets

Litecoin Online wallets offer an even simpler way to manage Litecoin than the previously introduced wallets. Online wallets have the great advantage that there is no need to set up, install or create a backup and only one login is required. Basically, online wallets can be grouped in two ways.

The first type are the accounts (wallets) on a cryptocurrency exchange. These offer the considerable advantage that the user does not have to worry about anything. The major disadvantage is that they require a high level of trust in the trading platform.

The users of a Exchange wallet must be confident that the platform will store the cryptocurrencies in cold storages and that the IT infrastructure will not be hacked. In addition, the employees who have administrative access must be trusted. At this point we would like to mention Mt. Gox Hack, which may have been an inside job (which could never be clarified). Well-known exchanges and brokers generally have very good security measures for each of these points of attack. However, exchange wallets are not very recommendable for the permanent storage of Litecoin.

The second type of online wallets are Litecoin specific developments. The LiteVault is probably the most popular and best-known Litecoin Online wallet. Below we have compiled an overview of the advantages and disadvantages of online wallets:

1.LiteVault

LiteVault is an online wallet that was developed especially for Litecoin and features an open source design. It is practically an online wallet service that uses in-browser cryptography to store the LTC and is based on the same system as Blockchain.info. With LiteVault Litecoin transactions can be sent and received. It also offers integration with Changelly, allowing users to purchase LTC by credit card and exchange it with other Altcoins.

Technically, the wallet works as follows: When you log in to LiteVault, your web browser sends your identifier to a LiteVault server that returns the encrypted version of the wallet using the AES algorithm. Your browser decrypts this data with your password (which is never sent to the server) to load your private key to sign transactions.

When you perform a transaction, LiteVault uses the private key stored in the browser’s memory. After signing with the private key, the transaction is transferred as a hash to the LiteVault server, which forwards the transaction to the Litecoin network.

LiteVault is developed by Someguy123, who writes to himself on the official website:

I am a trustworthy website developer within the Litecoin community who is responsible for various services including the Litecoin Block Explorer and the administration of various official Litecoin resources such as Wiki and IRC:

2.Binance wallet

Managing Litecoin (LTC) on Binance can also be an option if you intend to trade cryptocurrencies. Over 150 cryptocurrencies can be traded out of the wallet on one of the world’s most popular exchanges. However, since this is a exchange wallet, you must be aware that you are handing over the management of the private keys to Binance, which will store them for you.

The security of the Binance Web wallet can therefore also be classified as significantly lower than that of the wallets presented above. This has two main reasons in our opinion: First, your private keys are located on external servers. Secondly, Binance is a popular target for hacking attacks.

Binance is one of the safest exchanges in the world. Nevertheless, the market has already been hacked, with a total of 7,000 BTC being stolen in May 2019. Even if Binance has assumed full responsibility and has therefore not passed on the loss to its customers, this shows the vulnerability of online wallets.

We therefore recommend that you only use the Binance wallet as long as you are actively trading cryptocurrencies. If you are looking for a long-term storage option, you should send the LTC to an external wallet.

If you would like to register an account on Binance, you can do so via this link*.

3.eToro wallet

Our second choice is eToro, which, however, only appeals to residents outside of the US and UK (as of 01/2021). eToro is one of the largest CFD providers in the world and offers various cryptocurrencies in “physical form” as well as CFD (outside of the two aforementioned regions). Due to its high security standards and reputation, eToro can be a good option for custody in our view.

For more information, you can read our eToro review. If you want to sign up for the wallet, you can use this link (click here*) to create an account with eToro.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

4.Litebit wallet

For the direct purchase and sale of Litecoin (LTC) Litebit is our top recommendation for investors from Europe. In addition to the brokerage service, the platform also offers a wallet to store Litecoin. Here you have to keep in mind that Litebit manages the private keys (according to the classical definition of a exchange web wallet).

While Litebit stores large portions of customer funds in cold Storages (offline) and provides 2-factor authentication for user accounts, Litebit does not provide a single point of authentication for all customer accounts. Nevertheless you should keep the Litecoin on the Litebit wallet for a short time only. We recommend you at least install a free desktop wallet or better still buy a hardware wallet.

If you want to buy Litecoin, just click on this link*. You will be directed to the official website of Litebit where you can register.

In the following we have summarized the most important aspects of the use of Web Wallets:

Litecoin paper wallets

Litecoin Paper Wallets can be a very good option if you want to save LTC offline and don’t want to buy a hardware wallet. By “storing” the password, the address and the private key on a piece of paper, the sensitive data will not be connected to the Internet. Only when you want to send a transaction do you have to use another wallet.

Since your private key then comes into contact with the Internet, you should then create a new Paper wallet. However, this process can be somewhat cumbersome for many transactions. From our point of view Litecoin Paper wallets are therefore always useful if you do not want to access the Litecoin (LTC) for a longer period of time.

1. Best Litecoin paper wallet: LiteAdress

LiteAdress is a service that generates a private litecoin key and an address. After the generation you can print the key and the address and keep the note offline, so that no hacker can gain access to your Litecoin (LTC). It is important that your PC and printer are free of viruses and malware. This can be a potential weak point of the Litecoin paper wallet.

If you use Litecoin Paper Wallets, you should note the following:

Further important information about the Litecoin wallet test

Please also allow us a final piece of advice: Please note that we have gathered the information to the best of our knowledge and experience. However, despite all efforts, you should always gather further information and test different wallets to find the best wallet for you.

If you have questions or suggestions about our Litecoin wallet review, please leave us a comment. We’ll be glad to help you!

If you enjoyed this entry for the best Litecoin Wallets, we would appreciate a positive review!

Der Beitrag The best Litecoin wallets in comparison | Guide and review erschien zuerst auf Crypto News Flash.

In contrast to cold wallets, hot wallets are connected to the Internet. This has the advantage that the wallet is very quickly available for everyday use. However, due to the connection to the Internet, they offer significantly weaker security than cold wallets.

Hot wallets can also be further differentiated into web, desktop and online wallets. Each type offers certain advantages and disadvantages, as well as a different safety standard. In this article we introduce you to the best Bitcoin wallets for 2019 from the following categories and show you the respective advantages and disadvantages of each wallet:

1. Bitcoin hardware wallet
2. Bitcoin desktop wallets
3. Bitcoin online wallets
4. Bitcoin mobile wallets
5. Bitcoin paper wallet / offline wallets

If you want to buy Bitcoin, we recommend you to read our guide, which will show you where you can buy Bitcoin easily and securely (click here!). At the latest after the purchase of Bitcoin you need a wallet to protect your Bitcoins from theft by hackers.

If you deposit BTC on a cryptocurrency exchange, you are handing over the responsibility for managing the private key to your exchange. However, the private key reflects the ownership for your Bitcoin. We therefore recommend that you do not delegate this responsibility to an exchange, but that you ensure that the Bitcoins are stored securely yourself.

As mentioned at the beginning, each type of wallet offers different levels of protection. Furthermore the Bitcoin wallets differ in price. While hardware wallets have a certain price, the other types of wallets are generally free of charge (at least in the basic version). Since hardware wallets offer the best possible protection for the storage of your Bitcoin, we start with this type of Bitcoin wallets. Below we show you the best Bitcoin hardware wallets which are manufactured by renowned companies and which we have been using reliably for several years.

Bitcoin hardware wallets

Compared to software or desktop wallets, hardware wallets have a decisive advantage: Your private key never comes into contact with your PC or the Internet. This makes your hardware wallet very effectively protected against phishing attacks and other hacker attacks. In addition, you must physically confirm each transaction on your hardware wallet so that theft is (almost) impossible.

You can also protect your hardware wallet physically with a PIN code and a password. Furthermore, the newer hardware wallets also have the option of setting up 2-factor authentication. A code will be sent to you via an app, which changes every 30 seconds and must be re-entered every time you log in to unlock the device.

All these security features make hardware wallets the most secure Bitcoin wallets on the market. Especially if you’re investing large amounts in Bitcoin, you shouldn’t save on buying a hardware wallet. Compared to the capital you own in Bitcoin, the prices for a hardware wallet is very low from our point of view. In the following box you can see the advantages and disadvantages of hardware wallets:

We have tested a total of 8 different BTC hardware wallets and will show you which wallet is the safest and has the best features. The following table shows the best three hardware wallets from our hardware wallet comparison test.

The best 3 Hardware Wallets in 2019

Hardware Wallet	Info	Test
Buy the Ledger Nano X*	⚡ OUR test champion: The Ledger Nano X ✅ Manage 100 cryptocurrencies simultaneously ✅ Compatible with more than 1,100 cryptocurrencies ✅ Bluetooth connection for mobile wallet ✅ New flagship of the market leader ⛔ Price: 119,90 € - in the middle range	Read our review
Buy the Ledger Nano S*	⚡ Best price/performance ratio: The Ledger Nano S ✅ Very good Price: 59,90 € ✅ Compatible with more than 1,100 cryptocurrencies ✅ Proven quality: more than 1.3 million units already sold ⛔ Manage max. 5 cryptocurrencies simultaneously	Read our review
Buy the Trezor Model*	⚡ 3rd place: The Trezor Model T ✅ Over 1,000 cryptocurrencies supported ✅ Proven quality from Trezor ✅ Firmware is not installed on the device until you start it ⛔ In comparison to the Nano X: less features and functions  ⛔ High price: about 180 €	Read our review

1.Ledger Nano X Test

The Ledger Nano X is the successor to the Ledger Nano S, Ledger’s long-standing success model. Compared to its predecessor, the Nano X can shine with some new features that make it our test winner and absolute favorite among the hardware wallets. Due to its Bluetooth function, the Nano X can be used as a mobile wallet and offers the same security. All you need to do is install the Ledger Live App on your smartphone and establish a connection between the hardware wallet and the smartphone. Furthermore, the Nano X can manage up to 100 cryptocurrencies simultaneously.

2.Ledger Nano S

The Ledger Nano S is the predecessor of the Nano X, which has been sold over 1.3 million times worldwide. Despite the release of the Nano X, the Nano S still has a right to exist. It is still one of the most secure hardware wallets on the market. It can also be purchased at a very good price of around 59 euros. This makes it a very good choice especially for beginners who don’t want to manage many cryptocurrencies.

3.Trezor Model T

The Trezor Model T is the direct competitor to the Nano X and is twice as expensive as its predecessor, the Trezor One. However, it has a much larger range of functions and a touch screen. It is also possible to activate 2-factor authentication, which significantly increases protection. Compared to the Trezor One it is the premium version.

4.Trezor One

The Trezor One (formerly only TREZOR) is probably the best known on the market because it was also the first hardware wallet. The wallet was first published in 2014 by SatoshiLabs, a company based in the Czech Republic. SatoshiLabs claims that its hardware wallet is the most trusted and secure way to store your Bitcoins. More than a million Trezor One buyers have already believed this promise.

5.Opendime Bitcoin Wallet

The Opendime Bitcoin Wallet is a USB stick that can be passed from hand to hand and can transport large quantities of Bitcoin. It is not necessary to send transactions through the blockchain, as the owner of the stick has immediate access to all BTCs. In this respect, the Opendime Bitcoin wallet follows a different approach than “regular” hardware wallets. This is the reason why the purchase can be useful if you want to pass on Bitcoin beyond the blockchain.

6.Digital Bitbox

The Digital BitBox is a very inexpensive Bitcoin hardware wallet that works with a micro SD card and provides 2-factor authentication. The device is a minimalistic Bitcoin hardware wallet, which generates a wallet (bip32) by the integrated microcontroller. The onboard slot for a Micro SD card allows you to create an offline backup for recovery.

We’ll sum up the most important information for you:

Bitcoin Desktop wallets review

Desktop wallets are programs that are installed on your computer. Desktop wallets differ in two ways: Multi-Coin-Wallets, which can manage many different cryptocurrencies, and specific wallets, which can send and receive only one cryptocurrency (here: Bitcoin). Specific wallets usually require a complete download of the blockchain data in order to function. An example of this is the Bitcoin Core wallet.

Desktop wallets are from our point of view the top recommendation if you are looking for a free wallet for Bitcoin. To help you keep track, we present the best Bitcoin Desktop wallets in 2019 on the market. For our favorite – the Electrum wallet – we will also show you a guide in which we explain all the functions of the wallet in detail. But first we compare the advantages and disadvantages of Bitcoin Desktop wallets:

Below you will find our top recommendations for your Bitcoin Desktop Wallet:

1. Electrum
2. Guarda
3. Atomic Wallet
4. Jaxx Liberty
5. Bitcoin Core
6. Coinomi
7. Armory

1.Bitcoin Desktop wallet winner: Electrum Wallet

Our Bitcoin Desktop wallet test winner is the Electrum wallet. The wallet was launched on the market in 2013 and has been continuously improved since then. It provides 2-factor authentication that greatly increases the security of your wallet. The Electrum BTC wallet has proven itself over the years. There are still no documented hacks where Bitcoin could be stolen.

For some users it is important that the Electrum wallet can be used with “Tor”. The IP address of the user is hidden by external servers. The Electrum wallet thus creates an additional level of privacy that many other desktop wallets do not offer. We are completely satisfied with the safety, functionality and user interface and can therefore warmly recommend the wallet. In our opinion, the Electrum Desktop wallet is an excellent Bitcoin storage solution for users looking for a combination of convenience and security.

Learn in our Electrum wallet test (click here!) how to set up and use the wallet correctly. You can also download the software from the official website. Click on the following link where you can download the wallet’s software directly.

2.Bitcoin Guarda Desktop- and mobile Wallet

The Guarda Wallet is also a multi-join wallet that supports more than 50 cryptocurrencies in addition to Bitcoin. The Guarda Wallet is available as a desktop or mobile version and as a browser extension. Depending on your device and security, you can choose the wallet that suits you best. The Bitcoin desktop and mobile wallet offer you the greatest security.

Your private keys are stored on your PC or smartphone, so only you have access to them. Setting up your account for the first time and installing it is child’s play, so the wallet is perfect for beginners. The wallet interface is clearly laid out and intuitive, so even newcomers will find it easy to use.

You can download the wallet on the official website.

3.Atomic wallet review

The Atomic wallet is a Bitcoin desktop wallet that places great emphasis on security, anonymity and decentralization. The private keys and transaction data are only stored on your own device. The wallet is relatively popular and was only founded in 2017 by Konstantin Gladych, CEO and co-founder of the popular Changelly.com crypto exchange platform.

The wallet gets its name from the central feature of Atomic Swaps, which allows cryptocurrencies to be exchanged within the wallet peer-to-peer without the need for an exchange (which charges extra for the trade). For coins that do not yet support Atomic swaps, there is the option to use the built-in services of Changelly or ShapeShift to perform trades.

We personally have had very good experiences with the Atomic wallet over the past two years, which can manage over 300 additional cryptocurrencies in addition to Bitcoin. The wallet is available as desktop version for Windows, Mac, Ubuntu, Debian and Fedora. There is also a mobile version for iOS and Android in the respective App Store.

From our point of view, the Atomic wallet is particularly suitable for beginners who are looking for a wallet with which several cryptocurrencies can be managed. Therefore it is also our Top 2 recommendation. You can download the wallet under this link.

4.Jaxx Bitcoin Desktop wallet test

The Jaxx Liberty wallet is one of the best multi-join desktop wallets on the market. The operation is very simple and the wallet supports more than 80 different cryptocurrencies (besides Bitcoin). You can also use the wallet via your mobile phone or web browser. It is available for both Android, iOS and Google Chrome. There are also desktop versions for Mac and Windows that are very easy and quick to download and use.

One reason for the popularity of the wallet is that it is developed by the company of Anthony Di Iorio, a co-founder of Ethereum. There are, however, several other reasons why the wallet enjoys a good reputation in the crypto industry.

The safety of the Jaxx Liberty wallet is very good. Furthermore, the developers do not have access to your “private keys”. Only you have access to your private key. In addition, the Jaxx wallet offers a quick and easy way to create a backup. The support team, which is available around the clock, is also particularly praiseworthy.

This link will take you to the official website where you can download the Jaxx Liberty wallet.

5.Bitcoin Core Desktop wallet test

The Bitcoin Core wallet should not be missing in any list. It was the very first Bitcoin wallet on the market and the only way for Bitcoin investors of the first hour to manage, send and receive Bitcoins. It is a collaborative project that was created under the MIT license and is therefore usable for everyone. The complete source code is open source and can therefore be checked and viewed by anyone.

This desktop wallet downloads the complete Bitcoin blockchain and connects as a full node to the Bitcoin network, taking up a lot of space on your hard drive. You should have at least 200 GB free for everything to work properly. If required, you can also provide your own bandwidth for the network to support the Bitcoin network.

Ultimately, the Bitcoin Core wallet is definitely not suitable for beginners, as the high memory requirements and the constantly running synchronization represent a major hurdle. Users who want to operate a full node are very well served with the Bitcoin Core wallet. Nevertheless, it can have its charm to use the “original” Bitcoin wallet. In addition, it also offers an outstanding safety standard.

The wallet is available for: Windows, Mac OS X, Linux, ARM Linux and Linux Snap Store. Click here to download the wallet.

6.Coinomi Desktop wallet review

The Coinomi wallet is a Multi-Coin-Wallet that offers, besides Bitcoin, more than 275 cryptocurrencies for administration! The wallet was launched in 2014 and is the oldest multi-join wallet with millions of active users.

In addition to the large number of coins, the Coinomi Bitcoin wallet scores particularly well in the area of privacy. Most people who own cryptocurrency attach great importance to their privacy. This is where Coinomi has his strength. The wallet does not collect any personal data and encrypts the IP address of its users.

The wallet can be run on your desktop as well as on your smartphone. The wallet does not currently offer 2-factor authentication, but the developers of the wallet are considering implementing this feature.

The wallet is also connected to the Coinomi exchange, so users can trade cryptocurrencies directly from the wallet. This feature works in practice very simply and reliably and can save the detour via an exchange, such as Coinmerce or Coinbase.

You can download the wallet on the official website (click!).

7.Armory Bitcoin Desktop Wallet

The Armory Bitcoin wallet was launched in 2015 and is one of the best Bitcoin wallets for the desktop PC. It is based on an open-source Python code that can be controlled by any person. This is one of the reasons why it is considered to be one of the safest Bitcoin wallets. However, there’s one little catch you should know: The original developers of the wallet have left the project. Nevertheless, it is continuously being further developed!

The wallet is aimed at advanced users who place great emphasis on security and advanced features, such as a variety of encryption and cold storage options (including Multisig). It is important to know that the wallet was developed exclusively as a storage solution. An outstanding feature of the Amory Bitcoin wallet is the possibility to use it as a cold wallet. This means that the Bitcoins can be stored very safely. For larger customers, the wallet provider even offers a consulting service in which experts provide advice and assistance.

The Armory wallet is also available for all common operating systems. That includes: Windows, Linux, Ubuntu and also Mac. The use of the wallet is completely free of charge and possible without further registrations. You can download the wallet here and install it.

In the following box, we have briefly summarized the most important things about Bitcoin Desktop Wallets:

Bitcoin Online wallets review

Bitcoin Online wallets are usually operated by cryptocurrency exchanges. This offers the great advantage that they are very easy to use. Moreover, you can trade very easily and quickly, as the wallets are connected to the exchanges. The resulting disadvantage, however, is that cryptocurrency exchanges are very popular targets for hacker attacks. However, there are also web wallets that are not operated by cryptocurrency exchanges.

Compared to hardware wallets and desktop wallets, online wallets offer a lower security standard. Nevertheless, they also have advantages, as the following overview shows.

1.Our test winner: The Binance Web Wallet

Binance, one of the largest exchanges in the world, offers a wallet service in addition to the pure trading of cryptocurrencies. More than 100 different cryptocurrencies can be traded and stored on the exchange. Binance is regarded as one of the world’s safest exchanges, which has been the victim of only one hack to date. A total of 7,000 BTC were stolen in May 2019. However, Binance took responsibility for the hack and did not pass the loss on to its customers, but compensated for it itself.

However, our recommendation is that you only use the platform for trading cryptocurrencies. If you want to store your Bitcoin for a long time, you should send the BTC to an external wallet. Nevertheless, in our opinion, Binance offers the best possible protection in this category. If Binance is responsible for a loss, you can expect compensation from the exchange. Still, you shouldn’t rely on it. You can register an account on Binance by clicking on this link*.

2.BTC.com hot wallet

The BTC.com wallet is developed by Bitmain, the leading manufacturer of Bitcoin Mining Rigs (Antminer), and is a solution that combines security and ease of use. The BTC.com wallet is available online via the BTC.com website and for the smartphone via Android and iOS version. It offers good basic protection and privacy.

Unlike other online wallets, BTC.com never has access to the private keys. In addition, 2-factor authentication can be activated, thus increasing security. Another practical feature of the wallet is that it makes dynamic fee suggestions. This feature can be especially useful for beginners.

You can download the wallet from the official website. Click on this link.

3.BitGo Web Wallet

BitGo is a Bitcoin online wallet that stands out from other wallets due to various features. The wallet is designed to help companies that regularly use Bitcoins and send many transactions. The wallet offers the possibility to use multiple signatures. The multisignature feature allows multiple users to use one account. On the other hand, it offers additional security features that are very useful for businesses. This allows different users to access a single account if they have been granted permission to do so. You can also define payout limits.

The BitGo wallet is particularly suitable for companies and a very practical solution for jointly managing Bitcoin in one company. There are better alternatives for private investors! The official website of BitGo can be reached via this link.

4.eToro Desktop wallet test

Our second choice is eToro, which, however, only appeals to residents outside of the US and UK (as of 01/2021). eToro is one of the largest CFD providers in the world and offers various cryptocurrencies in “physical form” as well as CFD (outside of the two aforementioned regions). Due to its high security standards and reputation, eToro can be a good option for custody in our view.

For more information, you can read our eToro review. If you want to sign up for the wallet, you can use this link (click here*) to create an account with eToro.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

5.Litebit Online Wallet

The Bitcoin Broker Litebit offers a Bitcoin wallet in addition to the purchase and sale of BTC and other Altcoins. This corresponds to the definition of a web wallet, since Litebit takes care of the storage of your Bitcoins. For the account (and thus the wallet) Litebit offers the possibility of a 2-factor authentication in order to protect the account in the best possible way. In contrast to Binance, Litebit does not offer a web wallet for every cryptocurrency that can be purchased from the broker. Litebit currently has web wallets for Bitcoin and 30 other Altcoins.

Storing Bitcoin on Litebit is an easy way. However, we recommend that you rather use a free desktop wallet or buy a hardware wallet. If you want to create a Bitcoin wallet on Litebit, just click on this link*. You will be taken directly to the home page where you can register.

6.Coinmerce hot wallet

Like Litebit, Coinmerce is a Bitcoin broker from the Netherlands, which enables the direct purchase and sale of cryptocurrencies per euro. In addition to trading, Coinmerce offers its users the option of storing Bitcoin and other cryptocurrencies on the exchange.

In this case, the exchange takes over the task of taking care of your private key. Again, Coinmerce has never been hacked, but there is a potential for hacking. If you want to buy and sell cryptocurrencies, you can definitely try Coinmerce. Coinmerce has a platform’s own stable coin, the Coinmerce Coin, which can be used effectively to secure profits or cash out quickly and easily. If you click on this link*, you will be taken to the official website of the exchange where you can create an account.

We summarize for you the most important things about Online / Web Wallets:

Mobile Bitcoin Wallets

Mobile Bitcoin wallets can be used directly on your mobile phone, so you have direct access to your Bitcoins from anywhere in the world. However, just like your PC or laptop, the mobile phone is another possible point of attack that hackers could exploit. You are only effectively protected against hacker or phishing attacks with a hardware wallet. Nevertheless, we present 5 different mobile Bitcoin Wallets that have proven themselves in practice. Below we have summarized an overview of the advantages and disadvantages of a mobile wallet:

1.Electrum Mobile wallet – again test winner

The Electrum wallet was already our test winner in the Desktop wallet category. The mobile Bitcoin wallet is focused on speed and simplicity. When using it, your phone needs little resources because it uses remote servers that can handle the workload. You can restore your account using a secret phrase if your phone breaks down or other events occur. You can also protect your account with 2-factor authentication.

You also have full control over transaction fees. The wallet suggests the transaction fees according to the current load on the Bitcoin blockchain so that the transaction is executed promptly. This function can prevent beginners in particular from paying excessive transaction fees.

You can download the wallet for Android here.

2.Atomic Wallet

As with desktop wallets, the Atomic wallet takes second place in mobile wallets, as it places great emphasis on security, anonymity and decentralization. Everything we have written for the desktop version also applies to the mobile version of the wallet.The private keys and transaction data are only stored on your device. In addition, the wallet can be used to perform Atomic swaps, allowing cryptocurrencies within the wallet to be exchanged peer-to-peer for a small fee.

From our point of view, the Atomic wallet, whether in the desktop or mobile version, is particularly suitable for beginners who want to manage several different cryptocurrencies with one wallet. Therefore it is also our Top 2 recommendation. You can download the wallet under this link.

3.Bither mobile Bitcoin wallet review

The Bither mobile wallet is a simple but safe Bitcoin wallet. The wallet can be adapted to the personal needs, so that the range of functions depends on the use. The wallet offers a cold and hot wallet function to manage and track Bitcoin online and offline. The cold wallet runs in offline mode, so no internet connection is required. The Private Keys are securely stored on your device and protected by a password.

The wallet also has a backup and restore function. Using the hot wallet function you can connect it to the Bitcoin network and check your balance as well as send and receive Bitcoins. The private keys used for transactions can be imported using the QR code.

Furthermore, the wallet offers the possibility to use multi-signatures. This means that several people can manage the wallet and send and sign transactions. The wallet is available for both your smartphone and desktop, so you can use it across devices. You can download the wallet from the official website (click here!).

4.BitPay Wallet

BitPay offers both a desktop and a mobile Bitcoin wallet. The wallet was developed by the payment service provider BitPay to protect the credit balances of its users. Thus, a serious and established company as a provider stands behind the wallet.

BitPay is one of the largest Bitcoin payment companies in the world. This is also the main purpose of the wallet, which is to be understood as an additional service from BitPay to the other services. The BitPay wallet offers a prepaid card with which the company’s vouchers can be purchased. Practically, you can load your credit from the BitPay wallet onto the BitPay prepaid card to pay anywhere VISA credit cards are accepted.

In addition, it is possible to use multi-signatures. Thus the wallet can be used by several persons. In addition, payout limits can be defined. In addition, the wallet can be secured by 2-factor authentication. Exceptionally, a BWS node can be used to significantly increase security and privacy.

You can download the wallet on this website (click!).

5.Edge Wallet

The Bitcoin Edge Handy wallet offers the possibility to manage numerous other assets in addition to Bitcoin and Ethereum. Furthermore, Fiat currencies can be transferred to the wallet (EUR, USD) and Bitcoin can be purchased directly. The wallet is available for both Android and iOS. In addition to the ability to enable 2-factor authentication, your account can be protected with a PIN or Touch ID. The wallet can also be used with several end devices.

You can download the wallet on the official website of the provider (click!).

We summarize the most important things for you:

Bitcoin Offline wallets / Bitcoin Paper Wallets

Bitcoin Paper wallets are considered particularly secure in the Bitcoin community because the password, address and recovery seed are stored offline on a piece of paper. However, it should be noted that a web wallet such as Blockchain.info must be used to view the account balance as well as to send transactions.

There are different possibilities to use a Paper wallet in practice. You can get even better protection by combining the Paper wallet with the use of a hardware wallet. This means that all important login information is displayed on the sheet of paper and there is no further digital copy of it.

Bitcoin offline wallets are especially useful if you will not be accessing your account for a long time. You can store your Bitcoin wallet paper in a safe place, e.g. a safe deposit box or a safe. When creating paper wallets, it is important that your PC and printer are free of viruses and malware. Although it is quite rare, this can be a possible weak point of the Bitcoin Paper wallet. Newcomers in particular should inform themselves in advance about the respective opportunities and risks.

If you use Bitcoin Paper wallets, you should note the following:

Further important information

With all our recommendations, always note that you do your own research and inform yourself independently. There are countless Bitcoin wallet suppliers on the market offering different products at low and high prices. The best way to protect your Bitcoins is to use hardware wallets. Currently there is no better way to keep your cryptocurrencies safe than on a Ledger Nano X or Trezor Model T.

If you are a beginner and prefer a wallet that offers deposit protection, eToro may be the right choice for you. eToro offers up to €20,000 per customer protection. In the event of a hacker attack, your deposits are protected against the insolvency of the stock exchange. Click on this link to create an account with eToro*.

If you have any questions or suggestions regarding our Bitcoin wallet review, please feel free to leave us a comment. We’ll be glad to help you!

Please rate our Bitcoin wallet review:

Der Beitrag Bitcoin wallet review 2019: The best hardware, software, desktop and mobile wallets for BTC erschien zuerst auf Crypto News Flash.

On the other hand, hardware walls offer you the best possible security to protect your cryptocurrencies from hackers, thefts and other crooks. In the following, we introduce you to various hardware wallets and also show you our test winner.

What is a hardware wallet?

A hardware wallet is a wallet for your cryptocurrencies such as Bitcoin, Ether, XRP or Litecoin that stores your private key easily and securely on an external storage medium such as a USB stick. Hardware wallets have the following advantages over desktop or mobile wallets on mobile phones:

• Your private keys are secure at all times and cannot be read by software or viruses, as your hardware wallet is never connected to the Internet.
• Each transaction must be manually confirmed by a person via the respective device (Ledger, Trezor or KeepKey) so that abuse is effectively prevented.
• The software is open source, so that all updates and innovations can always be tracked and checked.
• Your coins are protected from hacking on exchanges and exchanges as they are stored safely on your hardware wallet and not on the Bitcoin wallets from Binance or Bitfinex. To date, no hardware wallet has been robbed.
• Most hardware wallets can manage many cryptocurrencies.
• Hardware Wallets offer significantly greater security than Desktop or hardware wallets at a often very low price – the acquisition costs are worth the hardware wallet investment in any case!

Practical hardware wallet Test: How we tested every product

The list of hardware wallets is long and there are always new competitors on the market. This makes it all the more difficult to maintain an overview and acquire a high-quality hardware wallet. That’s why we’ve put the work into it and put the most famous hardware wallets through their paces to make your hardware wallet purchase decision easier.

The following criteria are evaluated in our purchase guide:

• price-performance ratio
• Security and all available related measures such as 2-factor authentication.
• Available Coins
• customer support
• user interface

Ledger Hardware Wallet Nano S: Cheap but secure

From the French manufacturer Ledger there are different hardware wallets to buy in different price ranges and functional range. The all-round model that we use ourselves is the Ledger Nano S hardware wallet.

It offers an extensive protection, at a really very good price of not even 59 euros. In the following we will introduce you to the wallet and show you which cryptocurrencies are supported. We will also show you step-by-step how to use the Ledger Nano models in detail.

The Ledger Nano S supports more than 1,100 cryptocurrencies. These include Bitcoin, Ethereum, Ripple (XRP), Litecoin, Monero and almost all coins in the top 100 by market capitalisation. A complete list can be found at this link (takes you to Ledger’s official homepage).

Your Private Keys are optimally protected on the Ledger Nano S and protected from any hackers and phishing attacks. The wallet is protected by a PIN code, which is stored on a security chip that is also used for your identity card. There is also Ledger’s own operating system “BOLOS”, which has been tested by several renowned security companies and classified as absolutely secure.

The hardware wallet Ledger Nano S is compatible with the following operating systems:

• 64-bit desktop computer with Windows 8+,
• MacOS 10.8+,
• Linux without ARM processors
• Also compatible with Android 7+ smartphones

To connect the Nano S to your desktop or smartphone, you will need the software provided by Ledger. On the Ledger Nano S a kind of “App” must be installed for each cryptocurrency, so that this can be deposited on the Wallet and dispatched. The Nano S offers storage space for a total of 5 apps, so that 5 cryptocurrencies can be managed simultaneously.

However, this does not mean that you can store more than 5 cryptocurrencies on it. If you want to manage a digital currency other than the 5 already installed, simply remove an app, e.g. for Monero, and then install the Dash App. This works completely problem-free and fast. No security vulnerabilities occur here either.

The Ledger Nano S offers an almost unbeatable price-performance ratio and offers an incredibly high level of safety. In addition, it has been checked by several third parties for possible weaknesses and has even received a safety certificate. If you don’t want to spend a lot of money and still want to buy a hack-proof hardware wallet, then you should go for the Ledger Nano S. Here you can read our detailed Ledger Nano S Test (click link!).

>> Buy Ledger Nano S directly from Ledger <<

Ledger Nano X: Moderate price, but huge range of functions

Ledger introduced a new model, the Ledger Nano X, in May 2019. This hardware wallet is the company’s new flagship. The price of 119€ is clearly above the Ledger Nano S, but the new model offers far more functions.

The Nano X is slightly larger than the Nano S and some details in the design of the wallet have changed. The buttons of the hardware wallet are now located on the back and feel much better and have a better grip than on the previous model.

Another innovation is that the Nano X has a Bluetooth function. This Bluetooth connection is encrypted, so no hacker in the world can steal your assets. This means that you can easily and securely manage your Bitcoin and Ethereum via Bluetooth with your mobile phone.

As with the Nano S, you must manually confirm each transaction at the touch of a button. No matter whether you connect the Nano X to your computer (by the way, you can also communicate with your PC via Bluetooth) or to your smartphone, the connection is double- and triple-secured. The software “Ledger Live” allows a very simple and safe operation on your desktop PC or laptop.

Furthermore, it has significantly more storage space and allows the administration of more than 100 cryptocurrencies at the same time. So the Ledger Nano X offers enough storage space to manage each of your favorite currencies safely and reliably on the Nano X at the same time.

Of course as many cryptocurrencies, 1,100 pieces, are supported as with the predecessor model. The wallet is compatible with these operating systems:

• 64-bit desktop computer with Windows 8+,
• MacOS 10.8+,
• Linux, each without ARM processors,
• Smartphones with iOS 9+ or Android 7+

The body of the Nano X is much better than its predecessor and the possibility to operate the ledger via Bluetooth is a great feature that we don’t want to miss anymore. Also the administration of more than 100 cryptocurrencies at the same time is a great progress. Before it was sometimes exhausting to uninstall the different apps on the ledger just because I wanted to use a different cryptocurrency. In our opinion, this is the greatest improvement over the predecessor model.

That’s why we can definitely say that the Ledger Nano X is worth every cent! If your budget allows it and you are fluctuating between the cheaper version Nano S and the Nano X, then we would definitely choose the Nano X variant.

If you want to read our detailed Ledger Nano X review, click on this link (you’ll get directly to the review and our manual). At the moment there is a discount campaign directly at the manufacturer, where a Ledger Nano S and a Ledger Nano X can be bought at a price of 149€. This means a saving of more than 50% on the Nano S Ledger.

>> Buy Ledger Nano X directly from Ledger <<

Ledger Nano Blue: Hardware wallet with Touchscreen

The Ledger Blue is the most expensive model from Ledger and currently costs 279.99€. This price is among other things due to the built-in color touch display, which ensures unbeatable ease of use. In addition, the Blue model is slightly larger and heavier.

Unfortunately only 11 cryptocurrencies can be managed on the Ledger Blue at the same time. Another disadvantage compared to the Nano S and Nano X is the smaller amount of cryptocurrencies that can be stored on the Ledger Blue. The Ledger Blue has a safety chip that is also built into the other models and meets the highest safety standards.

Furthermore, the wallet is also operated via the “Ledger Live” software and therefore offers a similar interface. The following operating systems are supported:

• 64-bit Windows (8+),
• 64-bit Mac OS (10.8+),
• 64-bit Linux

You will also need to purchase a USB cable to connect it to your computer. The price for this cable is 15€.

For all touch screen enthusiasts, the Ledger Blue can be a good choice, as the safety and ease of use are really strong. Nevertheless, we would rather fall back on the Nano X model with regard to our purse, because here clearly more cryptocurrencies can be administered at the same time (up to 100 pieces) and the price is significantly cheaper with 119€.

That’s just our opinion. You’ll probably still get along very well with the Ledger Blue and appreciate its ease of use once you’ve used it.

>> Buy Ledger Blue directly from Ledger <<

Trezor One: Great price and strong security

Just like Ledger, Trezor also offers different hardware wallets at different prices and with different functionality. The Trezor One is the cheaper version that has been on the market for several years and currently costs 69€ directly from the manufacturer. The Trezor One’s body and case are of high quality and the keys feel handy and stable. A USB connection cable is included in the scope of delivery.

Trezor One supports more than 1,000 different cryptocurrencies, all of which can be used either directly or through a third-party app. All cryptocurrencies of the Top 100 are supported, with the exception of the following digital assets:

• Ripple (XRP)
• Cardano (ADA)
• Monero (XMR)
• Tezos (XTZ)
• Zencash (ZEN)
• Metadium (META)

Often you need to use a third-party app to send your coins easily and securely to Trezor One. A complete list of all supported coins and apps can be found here (click on this link to go to the official Trezor site).

Trezor is currently expanding the scope of its own software “Trezor Bridge” significantly, so that only its own software can be used and the use of third-party vendors is a thing of the past. This is the only major disadvantage compared to Ledger’s models.

Trezor Bridge’s user interface is really clear and intuitive. The operation is excellent and without any major problems. Here we would like to emphasize the fast and effective customer support. We contacted him because we weren’t quite sure how some of the functions worked in detail. We were helped energetically and very well-founded.

Your private keys are stored on the Trezor and are therefore not vulnerable to hackers or other phishing systems present on the Internet. Overall we are very satisfied with the Trezor One and the price is really excellent. The security is strong at all times, so your coins are in good hands all around.

You can find our detailed Trezor One review by clicking on this link.

>> Buy Trezor One on Amazon <<

Trezor Model T: The new hardware wallet of Trezor

Just like the Ledger Blue, the new Trezor Model T has a colour touch screen that provides a great user experience and allows you to work comfortably and quickly. The price is currently around 149€ and thus significantly higher than the predecessor model.

The biggest difference is the touch display, compared to the predecessor model. The PIN and passphrase can be entered directly via the Model T and no longer via your computer or smartphone. This provides much better security, as phishing programs cannot access your Trezor and are therefore completely safe from hackers.

The model will soon be able to be used with a MicroSD card. Developers can then install bottomloaders manually. The Model T supports significantly more cryptocurrencies which can be managed directly with the help of the company’s own software “Trezor Bridge”. A total of 1,064 cryptocurrencies can currently be stored and controlled with the Trezor Model T.

Setup is child’s play and operation is also child’s play. Trezor has certainly done a good job at this point. Overall Trezor presents a compact and reliable product at a strong price. The touch screen works reliably and ensures great operation. If you have any questions, the customer support will help you very quickly and reliably, definitely an important purchase criterion.

Somewhat unfortunate is that some cryptocurrencies still require the use of third-party software. We are very satisfied with the Trezor Model T and can definitely recommend it. If you want to read our detailed review of the Trezor Model T, click on this link (you’ll get directly to the Trezor Model T Review).

>> Buy Trezor Model T on Amazon <<

Opendime Bitcoin hardware wallet

The Opendime Bitcoin hardware wallet is a special wallet that works like a USB stick and can be passed on as “cash”. The dimensions of the stick correspond to those of a normal USB stick, which fits into every small trouser pocket. Furthermore, the price for three Opendime Bitcoin Wallets is currently 37.50€.

The wallet supports only one currency so far: Bitcoin. According to statement of the manufacturer further cryptocurrencies will not follow such as Ether or XRP. Unlike conventional wallets, the private key for a sealed stick is not known to anyone, but is only assigned when the wallet is set up on the computer. To actually release the private key, a piece of the stick must be physically broken out.

Therefore the Opendime Stick can easily be passed on to other people. This gives them easy access to the available credit. This is both positive and negative. If the stick is stolen or lost, the Bitcoins cannot be accessed anymore, a total loss so to speak.

On the other hand, a simple “physical handover” can be used to forward large quantities of Bitcoin, completely anonymously and at no cost and with a trace left in the blockchain. If you are looking for a hardware wallet where you can store multiple cryptocurrencies, you should use Ledger or Trezor models.

You should also be aware that you cannot assign a PIN or recovery seed to restore your wallet in an emergency. The Bitcoin Opendime Stick is suitable for people who are looking for a USB stick with which they can easily, quickly and anonymously share their Bitcoins.

The Opendime Stick fulfils its actual function comprehensively and reliably. Operation is simple and safe. If you are looking for a wallet for exactly this purpose, then the Opendime hardware wallet is just right for you. You can find our detailed Opendime Bitcoin Wallet review under this link.

>> Buy Bitcoin Opendime Stick on Amazon <<

Digital BitBox Hardware Wallet / Bitbox

The Digital Box hardware wallet, now renamed Bitbox, was developed in Switzerland and currently costs 44€. The wallet is the size of a USB stick and has an unobtrusive body. Thus it remains largely unrecognised by the public and uninteresting for possible thieves.

The wallet only supports three cryptocurrencies so far: Bitcoin, Ethereum and Litecoin. The manufacturer refers on his website to the fact that only Coins are offered, which are also actively further developed. The Bitbox has a connection for a MicroSD card. Backups can be made directly via the desktop app. This process is completely encrypted and safe from hackers and phishing attacks.

Furthermore, the desktop app offers 2-factor authentication to ensure maximum security. The Bitbox has no physical buttons that can be used to manually confirm transactions. This operation is released a small touch screen on the front. By manually touching this item, transactions can be confirmed, the device reset or firmware updates installed.

Bitbox relies on open source software whose documentation can be traced at any time. Furthermore updates are delivered regularly. At the moment there is already the Bitbox 01 to buy, the Bitbox 02, the successor, is still in development.

This should then carry invisible buttons, which are operated via gesture control. This sounds really innovative and is not yet available on the market in this mode of operation. Of course we will have to wait and see how good or bad the Bitbox 02 will be in practice. Overall we are completely satisfied with the Bitbox 01. The hardware wallet works reliably and has never been hacked before. You can find our detailed test report about the Digitalbox/Bitbox 01 here.

Furthermore there are all the important functions we expect from a hardware wallet. That includes:

• 2-factor authentication
• The possibility to restore the wallet
• Clear and intuitive operation
• Unobtrusive design

>> Buy Bitcoin BitBox on Amazon <<

ELLIPAL Cold Wallet: Hardware Wallet with Touch Display and Camera

The ELLIPAL Hardware Wallet is bigger and heavier than normal hardware wallets we have presented so far. The wallet is available in different ways to buy, the cheapest price is currently $ 149. The ELLIPAL Wallet has a 4 inch color touch display and is nearly the size of a Samsung Galaxy S4 Mini.

Furthermore, the device has a 5 megapixel camera with auto focus. Whether we really need these features for the storage of cryptocurrencies remains to be seen. Currently the following cryptocurrencies are supported:

Source: https://www.ellipal.com/pages/hardwarewallet-new

A total of 23 crypto currencies and all ERC20, TRC20 and TRC10 tokens are supported: BTC, XRP, ETH, XLM, USDT, LTC, DASH, EOS, ETC, DOGE, BTG, DGB, BTX, BCD, DCR, XZC, GRS, BCH, TRX, CMT, SMART, ECA, BNB.

Many more are currently under development. That’s what these coins belong to:

Source: ttps://www.ellipal.com/pages/hardwarewallet-new

The manufacturer guarantees regular updates, which are available for download once a month. New crypto currencies are delivered, which can be stored on the hardware wallet.

The value of the device is very high and it lies well in the hand. On the website of the manufacturer there is the possibility to order a metal case for the wallet to protect it from external influences. The software used by Ellipal to store your cryptocurrency is very simple and clearly arranged. We really like the interface very much.

The wallet can be operated via the ELLIPAL App with the help of your mobile phone. This means that a laptop or computer does not necessarily have to be available in order to be able to use the wallet to the full extent. We are really pleasantly surprised by this wallet and find the operation as well as the various application possibilities very good. Nevertheless, every user must decide for himself whether he needs such a large device that he also has a camera.

The secure storage of Bitcoin, ETH and XRP works wonderfully and super easy. The ELLIPAL Cold Wallet does this job safely and reliably. Take a look at our detailed test report of the ELLIPAL hardware wallet.

>> Buy ELLIPAL on Amazon <<

General information about hardware wallets

Set up the hardware wallet: First Steps

In order to avoid cheating and to ensure that your coins are stolen prematurely, you should follow these steps when purchasing and using your hardware wallet:

1. Order only from reputable suppliers. Either directly at the manufacturer (our recommendation) or check the respective seller data on Amazon, Ebay or wherever you order.
2. When you receive the hardware wallet, take a close look at the packaging. Is the package shrink-wrapped and also bears all the necessary seals that the manufacturer normally uses? If even the slightest damage can be seen on the packaging or the foil has been opened, do not use the hardware wallet under any circumstances but exchange it!
3. Follow the manufacturer’s initial setup instructions carefully. Write down all important passwords, seeds and PIN’s as they secure your assets in case of emergency. Take all clues seriously, especially for the safekeeping of your PIN’s or seeds. You should also keep your hardware wallet in a safe place (preferably a safe).
4. Even if it has already been mentioned in point 3, make a note of your Seed OFFLINE on a sheet of paper and do not save it in a text file on your PC. Files can become victims of a phishing attack. You’d just be playing into the hands of the hackers.
5. If you have followed the instructions given by Ledger, Trezor or your manufacturer to set up your hardware wallet, you should now be in the user interface of your wallet. Please always make sure that you enter the correct addresses when sending and receiving your coins. It’s best to double-check and triple-check them.

If you follow these steps, you can use your hardware wallet easily and safely. Also make sure that you install new updates regularly as they fix old vulnerabilities.

With every manufacturer there are further subtleties, which you must consider when handling your hardware wallet. In each Hardware Wallet Review we show you in detail what you have to pay attention to.

How secure are Bitcoin, Ethereum and XRP on your hardware wallet?

Hardware wallets are currently the most secure way to store your cryptocurrencies. More secure than desktop and smartphone wallets and much safer than keeping your coins on a exchange. Your assets are effectively protected from hackers and other attacks or malware. You eliminate these risk factors completely, because your coins are not stored on a exchange.

Nevertheless, it must be said at this point that even hardware wallets do not offer 100% security. There is no protection for every imaginable situation. Nevertheless, the use of a hardware wallet is the best solution and offers the highest security standard. Above all, you’re not protected from misuse. All transactions are one-way transactions. This means that once a transfer has been made, it cannot be undone.

Errors can occur here, for example, if you send your coins to an incorrect recipient address. In this case, your valuable cryptocurrencies are lost. Therefore, take a basic look at the operation of hardware wallets and read the detailed tutorials of the manufacturers carefully.

What should I do in case of hardware wallet theft?

What’s really important don’t panic. Even if your hardware wallet has been stolen or lost, there are still positive messages. The thieves can only access your cryptocurrencies if they know the PIN you assigned when you first set it up. The manufacturer ledger deletes the credits if the PIN is incorrectly entered three times in a row.

With the hardware wallet Trezor the time increases step by step, after each wrong input of the PIN, until you can try this step again. All in all, modern hardware wallets have many security mechanisms that protect your digital assets even if you have lost your wallet.

However, it is very important that you do not lose your seed (a sequence of 24 words that you also wrote on a secure piece of paper when you first set it up). This will allow the thieves to restore your account and access your coins.

So be very careful that your seed does not fall into the wrong hands and is kept in a safe place. If your hardware wallet has been stolen, you can still access your credit with your Seed. Therefore you have to get a new hardware wallet from the same manufacturer and reactivate it with your seed.

Then you have full access to your cryptocurrencies and can send them to a new wallet, then you are on the safe side.

Backup and restore your hardware wallet

If your hardware wallet is stolen or it has a defect, then you can restore your wallet relatively easily, shown here as an example at Ledger Blue. However, for this you need your seed, which you wrote down when you first set up your hardware wallet.

By using your Recovery Seed, you can restore the Private Keys you need to activate a new ledger. The following video shows you how fast and easy this process works in practice.

Can all hardware wallets store the same cryptocurrencies?

Here there are big differences between the models. The manufacturer Ledger and Trezor each support up to 1,000 different digital currencies, whereby there are differences in the simplicity of operation.

With Ledger, a large part of the cryptocurrencies can be stored directly on the hardware wallet without the use of a third party app, such as myetherwallet.com. Trezor, on the other hand, requires the support of a number of third-party apps so that all digital currencies can be easily stored.

Nevertheless, both hardware wallet producers support a large number of important cryptocurrencies. You can find out which these are in detail in our detailed test reports on the respective products.

Buy hardware wallet: Amazon, Ebay or directly from the manufacturer

Even though Amazon and Ebay are 100% reputable and reliable as a platform, the merchants that appear there should always be checked. Therefore it is best to buy directly from the manufacturer, also on Amazon and Ebay. This means that you must make sure that the seller is on Amazon Ledger or Trezor itself. This can simply be checked under a point below the respective product.

Furthermore, it is worth reading product reviews if a third party sells the Ledger Nano S or a Trezor. This is a good way to detect possible fraudsters at an early stage. The same applies to Ebay, of course. Here, too, the sellers, including their valuations, should be examined.

But the safest way is to buy directly from the manufacturer on the official websites ledger.fr or trezor.io. You can be 100% sure that the products have not been counterfeited or otherwise manipulated to steal your cryptocurrencies. Regardless of which supplier you order from, the packaging and the respective security seals are always checked. This protects you from nasty surprises and losses of your digital assets.

The products have to travel a long distance by post, which can damage the hardware wallets. So take your time and thoroughly check the packaging and the devices in detail – it’s worth it!

If you enjoyed this post and found it helpful, we would appreciate a positive review!

Der Beitrag Hardware wallet review 2019: The best hardware wallets in comparison, test & evaluation, including step-by-step guide erschien zuerst auf Crypto News Flash.