What is the best Bitcoin wallet in Australia?

Cryptocurrency is undoubtedly coming into the mainstream. With Bitcoin’s market cap alone being over $175,000,000 USD at the time of writing, it’s hard to deny the digital currency is a legitimate asset.

But blockchain technology facilitates so much more than just an asset or a store of value. The creator of bitcoin, Satoshi Nakamoto, envisioned a peer-to-peer payment system where transactions of value could be made without trust or physical assets.

That being said, whether you are buying bitcoin as a way to store value, as an investment, or a way to make anonymous payments, you will need a bitcoin wallet. With more and more entering the market every day, Bitcoin Australia decided to take a look at the best bitcoin wallets.

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Best Bitcoin wallet in Australia

Edge

Edge is a free wallet that makes it incredibly simple to store and trade cryptocurrencies. Edge supports currently supports 31 cryptocurrencies and has Shapeshifter integration, which means you can easily convert between it’s supported coins and tokens.

With client-side encryption, all your data is encrypted on your device before being sent to the edge servers. Edge and other 3rd parties, don’t have access to any of your data making edge one of the most secure wallets on the market. The servers are also on a decentralised network, which means your wallets will always work. Available on both Android and iOS, it’s the perfect wallet for mobile users. This accessibility and the easy to use interface makes it a viable cryptocurrency wallet for any type of bitcoin user.

Ledger Nano S

The best bitcoin wallet overall is the Ledger Nano S. This is a hardware wallet or a physical device, that can store bitcoins along with alternative coins such as Ethereum and Litecoin. The price means it’s probably only worthwhile for serious investors or users of bitcoin, but it’s hard to beat the security of the Ledger Nano S.

Blockchain wallet

Named after the technology behind cryptocurrency, Blockchain has one of the best online wallets out there. The company has a range of products including a hardware wallet and an exchange, but the ability of its online wallet to store, send, receive, buy and sell all from the wallet makes incredibly useful. What’s more, you’re the outright custodian of the wallet with full control of your assets, this isn’t always the case when it comes to web wallets.

Trezor Model T Wallet

The Trezor is the main alternative to a Ledger Nano, and was one of the first hardware wallets to hit the market. Its updated model, the Model T, is a relatively new wallet and the latest in crypto hardware storage. Trezor is a multi-purpose, multi-digital asset security device used to secure Bitcoin transactions along with a huge range of altcoins including Ripple (XRP) and Litecoin. It is also a powerful password manager and a two-factor authentication device. The Trezor should satisfy the most serious crypto investors.

Electrum

Electrum wallet is one of the most popular open-source software wallets on the market. It has the ability to be compatible with some hardware wallets such as the Ledger Nano and is functional completely offline. Electrum’s servers are decentralised which means there’s no downtime. The wallet has a bunch of other technical features which make it fast and secure such as multi-signature functionality to split the permission to spend your coins between several wallets.

Mycelium

Mycelium was awarded the “Best Mobile App” award by Blockchain info in 2014. It has “Watch Only” accounts, which are wallets stored without their corresponding key, so there’s no chance of it being stolen. Mycelium makes it allows users to access and use bitcoin whether it’s on an iPhone or Android device. The Mycelium interface is known to be a little more complicated than other entry-level wallets but it has a range of features that experienced users of bitcoin will appreciate. With “bank-grade security” for its mobile app and integrations from third parties such as Trezor, Mycelium is a great mobile wallet, for bitcoin users on the go.