Best Bitcoin Wallets for 2016

by Tracy Knauer •

The Bitcoin ecosystem is still relatively new, but there is already a large selection of different Bitcoin wallets for paying anonymously. Which Bitcoin wallets are the best for 2016? These are our recommendations.

What is a Bitcoin wallet? The term is a little confusing because the wallets don’t really store your Bitcoins. They are instead the place that holds your Bitcoin private key, which is needed to exchange Bitcoins. Keeping your private key secure is vital for using Bitcoin effectively.

A good Bitcoin wallet should keep your key secure while also making it easy to access it when you need it. We think these are the best Bitcoin wallets as of 2016:

  • Bitcoin Core. This is the “official” wallet offered by the Bitcoin project itself. It offers fewer features than some other Bitcoin wallets but it also receives a lot of attention from developers, which helps make it more secure. If you want a simple and solid Bitcoin wallet, this is your solution.
  • Hive. Billed as a “human-friendly” Bitcoin wallet, this solution is designed to be easy to use. It also has the advantage of supporting all the major hardware platforms. If you’re new to Bitcoin and are seeking a user-friendly solution, we recommend Hive.
  • MultiBit HD. This Bitcoin wallet also offers support for all the major platforms, along with some advanced features. These include integrated Tor support so that you can connect to the Bitcoin network easily.
  • BitGo. This Web-based Bitcoin wallet offers fewer privacy features than the standalone Bitcoin wallet apps. But it’s easy to use and designed to be as secure as possible for a Web-based wallet, which by its nature requires more centralization (and hence less privacy) than other types of wallets.

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