Let’s start with the main – why mobile wallets are more secure than PC wallets? The answer is quite simple – less vulnerable environment. It’s very easy to pick up malware programs on your computer – for example, you downloaded some kind of torrent file with viruses inside or installed an unknown extension in your browser. There are many options and any file that you download from a third-party site can be infected.
But in case of mobile devices, things are different. Especially if you have an Apple device.
All applications in the app store are thoroughly tested and safe. With Android phones, it’s much more complicated, as malicious applications skipped through Google Play
Also, on android, it’s very popular to download hacked applications from third-party sites. In any case, your smartphone is a much safer environment for a bitcoin wallet than your PC.
All wallets mentioned in this article do not store private keys on their servers – they are located exclusively on your devices and never leave them. This means that you are in full control of your funds without trusting a third party. I also want to warn you that you should not pay attention to the evaluation of some wallets in the app store and google play. Most of the negative reviews there were left by very short-sighted people who did not write down their seed phrase or PIN code, and then begin to blame the wallet developers for stolen funds.
All the cryptocurrency wallets mentioned in this article I will divide into two categories: multicurrency wallets that support other cryptocurrencies besides bitcoin and those that support bitcoin only. Here I will describe only about those that I use myself and about those that I consider better than everyone else. Now a huge number of wallets are available and all of them cannot be fit into one article.
I’ll start with multicurrency wallets and the first one on this list is the Coinomy wallet. This is the wallet that I use on an ongoing basis for more than 2 years. In addition to the desktop version, this wallet is available on both iOS and Android. More than 125 blockchains and more than 1500 tokens are supported. It supports all types of addresses, ranging from Legacy to clean Segvit addresses. It has a dynamic commission, and also allows you to set it manually. It has a convenient intuitive interface with support for many languages. Naturally has the ability to restore the wallet using seed phrase and it is also possible to set the BIP39 password. Moreover, this wallet hides your IP address and allows you to send your transaction from another IP to increase your privacy and security. Also, several services are built inside the wallet that allow you to buy cryptocurrency through a bank card or make an exchange for another cryptocurrency. Also there is a built-in terminal of the crypto exchange binance-dex.
At the moment, if you need a multi-currency mobile crypto wallet, then Coinomi is the best option.
The next crypto wallets that you should pay attention to are Bread wallet and Trust Wallet. They have the same built-in functionality as Coinomi. The only difference between bread wallet is its more pleasant and simple interface.
However, the trust wallet has one drawback – it only supports pure segwit addresses for bitcoin. there is no way to select legacy or segwit compatible addresses. This can be a problem when working with some exchangers and exchanges.
Otherwise, these three wallets have almost no difference in functionality. These wallets are also available on both iOS and android devices. All other multicurrency wallets either have truncated functionality, or are issued by some unknown companies, work incorrectly and with bugs, therefore they should not be trusted with your money.
Now let’s move on to wallets that support bitcoin only.
Let’s start with the easiest and most convenient option for everyday use. It is the Electrum wallet. It is available only on android devices. This is a simple and convenient mobile wallet with less functionality than its desktop version. Electrum can create several deterministic wallets. It supports legacy and pure segwit addresses. You can set commissions manually, but you cannot export private keys using the wallet interface. This is the easiest wallet that is suitable for everyday use of bitcoin and for storing small amounts.
The next bitcoin wallet is Mycelium. This wallet already has a fairly serious functionality. However, most features are only available on android. For iOS, many features are stripped down.
So, consider the android version – it is possible to create several deterministic wallets and use them simultaneously. Support for all types of bitcoin addresses. There is support for hardware wallets Ledger, Trezor and KeepKey. Ability to connect via TOR, as well as import and export of private keys. Built-in p2p terminal for bitcoin exchange. Manual commission setting.
The functionality, of course, is impressive, which makes mycelium an excellent wallet for those who use Bitcoin only.
But there is another wallet, which at the moment I consider the best bitcoin wallet – it is Samourai wallet. None of the other mobile wallets have the same functionality as this wallet. Moreover, developers are working on the implementation of coin-joint technology. And when this technology will be introduced, it will significantly increase the privacy of users, which at the moment is at a high level anyway, due to the huge number of useful functions. The only drawback of this wallet is the lack of iOS version.
But even without this, in my opinion, at the moment there are no pure bitcoin wallets better than Samouraj wallet.
But for iOS users, I have not yet found a single wallet that would be better than Coinomi. I would also recommend paying attention to the Copay wallet, which allows you to create a multi-signature wallet. This is a very useful feature that can be crucial for some people when choosing a wallet.
It’s time to summarize. Everything that I wrote in this article is my subjective opinion. You have the right to use the wallet that you like best, even blockchain.com. I want to note only one thing – the safety of your funds comes always first and lies on your shoulders. It depends on how securely you store your seed phrase and of course on your actions when using your smartphone. There are many cases when people sent a phrase to their e-mail and then wondered where their funds went. In 99% of cases, funds are lost due to the human factor and banal stupidity and not through the fault of software that performs the function of interacting with the blockchain. Well, of course, that large amounts must be stored on hardware or paper wallets.
Wish you all safe transactions and may the blockchain be with you!
by Sergiu Marandiuc