It is essential that you pick a safe bitcoin wallet to save your tokens if you intend to invest in bitcoin or any other digital assets. Using a bitcoin wallet, you can keep your private keys safe and save all of your bitcoins in one location.
This guide will assist you in choosing the top Bitcoin wallet in the UK. We’ll concentrate on the wallet’s security, usability, list of supported coins, and other important features.
Best Bitcoin Wallet 2022
You should take into account additional factors, such as supported currency and ease of use, in addition to security when looking for the finest Bitcoin wallet in the UK.
The best Bitcoin wallets on the UK market are analyzed below.
1. eToro
The best free Bitcoin wallet available is eToro, and we have no problem recommending it. This reputation is well-earned. To begin with, the wallet is FCA insured because it is a component of the eToro platform and brokerage. Given how few Bitcoin wallets are truly controlled, this is a pretty significant development in the Bitcoin community. A number of additional benefits are provided by the wallet and crypto trading platform being connected. For instance, the eToro platform makes it simple to trade Bitcoins and other cryptocurrencies, a feature that some other Bitcoin wallets do not provide.
If you’re searching for the ultimate free Bitcoin wallet, this is excellent news because the only costs you incur when trading on eToro are the spreads on every trade you execute. No commissions are ever assessed by eToro. In addition to Bitcoins, they enable you to purchase a wide range of other assets, including equities, indexes, currencies, commodities, and other cryptocurrencies.
Bitcoins are immediately kept in the eToro wallet when purchased using the eToro site. However, there is a separate eToro Wallet app that is accessible if you simply want to utilize the wallet and not the trading platform. When you begin trading cryptocurrencies besides bitcoin, it will be helpful since it supports more than 120 different cryptocurrencies. Additionally, the wallet supports more than 500 cryptocurrency pairs, so it won’t be an issue in the future if you want to exchange your Bitcoins for other cryptocurrencies. You can lean more about this bitcoin wallet with our previous guide to eToro Broker – Full Review.
2. Binance
Binance may be a fantastic fit for your needs if you’re seeking the finest Bitcoin wallet in the UK for quick and affordable trading. A high-volume crypto exchange, margin trading, savings accounts, Visa cards, loans, and other services are available on this global platform.
Additionally, Binance allows you to store your digital assets on its platform to make things simpler. Using your Binance login information, you can use a web browser or a crypto trading app to access this custodial wallet. Additionally, you don’t need to be concerned about protecting your digital assets. This is due to the fact that Binance will be in charge of maintaining your cryptocurrency’s security.
However, Binance asks you to set up 2FA for your account in order to ensure the security of your assets. This implies that you will need to confirm each login attempt using a code delivered to your email and phone everytime you want to access your Binance wallet.
Additionally, Binance has set aside 10% of its trading fees through its Secure Asset Fund for Users (SAFU) in order to offset losses in the event that the platform’s security is breached. For busy traders, Binance is the finest bitcoin wallet in the UK because you don’t have to enter your private key each time you conduct a transaction.
3. Coinbase
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For their cryptocurrency demands, over 98 million individuals in 100 different countries use Coinbase. This platform has a solid reputation and makes it simple to purchase, sell, and exchange digital assets. Additionally, it offers a free Bitcoin wallet with the capacity to hold a huge number of tokens.
On your mobile device, you can download and set up the Coinbase wallet. The digital assets that you have kept elsewhere can be imported, or you can create a new wallet with a 12-word recovery phrase. To access additional features, you may also connect this non-custodial wallet to the main Coinbase app.
Several DeFi protocols are also integrated with the Coinbase wallet. In this manner, you can stake your digital assets to generate rewards or trade cryptocurrencies via decentralized exchanges. You can also add the Coinbase wallet as an extension to your Chrome browser if necessary.
4. CoinCorner
If you are a newbie and seeking for a site that doesn’t demand you to have a lot of technical abilities, CoinCorner can be the ideal bitcoin wallet for you. You may purchase and sell bitcoins using the CoinCorner platform as well as the bitcoin wallet, which doubles as a trading platform. The wallet cannot be downloaded as standalone software, making CoinCorner unusual from the other platforms on this list. Rather, just the CoinCorner platform can be used to access it.
Furthermore, even if CoinCorner’s bitcoin wallet lacks the same amount of security controls as the other solutions on this page, there is a clear trade-off in regards of the platform’s security despite the platform being designed to be easier for novices to use. Since CoinCorner is the finest Bitcoin wallet for novices, traders typically start there before gradually moving on to other, more sophisticated platforms.
5. Crypto.com
A worldwide and very recognized site for gaining access to digital assets, Crypto.com, is at the top of the list for the best bitcoin wallet in the UK. You can purchase virtual currencies using the Crypto.com mobile app with your credit/debit card or with a bank transfer.
Additionally, the platform offers a web-based platform that streamlines cryptocurrency trading. You can download a different app called the Crypto.com DeFi Wallet to your phone to use it. More than 600 digital assets produced using different blockchains are supported by this wallet.
The DeFi Wallet has a decentralized exchange that lets you trade tokens in addition to storing cryptocurrency there. On a few digital assets, you can use the app to earn income without committing to a lock-in period. Additionally, you have the choice to modify network costs and transaction speed while transferring cryptocurrency.
You can also link your DeFi Wallet to the main Crypto.com app if necessary in order to transfer digital assets between the two applications. The Crypto.com DeFi Wallet is non-custodial and decentralized, allowing you to maintain control over your private keys. The security of your private keys, however, now rests entirely in your control.
In case you misplace your private keys, the platform also creates a recovery phrase as a backup. In addition, people looking for privacy might use the Crypto.com DeFi Wallet. This is because there is zero KYC verification necessary to use the wallet. Simply download the programme and make a notation of your backup password as an option.
6. Capital.com
You can trade cryptocurrencies with a platform like Capital.com even if you don’t own the underlying asset. Capital.com provides you with access to crypto CFDs to make this possible. These are sophisticated financial tools that follow the price of the item you’ve selected on the open market.
As we mentioned before, selecting a bitcoin wallet is crucial if you want to hold onto your digital assets. To make a profit, you must stick to your cryptocurrency investment for several months or possibly many years.
You can trade cryptocurrencies with a platform like Capital.com even if you don’t own the underlying asset. Capital.com provides you with access to crypto CFDs to make this possible. These are sophisticated financial tools that follow the price of the item you’ve selected on the open market. You can lean more about this bitcoin wallet with our previous guide to Capital.com Broker Review – Reliable or scam.
7. Trust Wallet
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In your hunt for the top bitcoin wallet in the UK, Trust Wallet is the next supplier to take into account. This non-custodial software wallet is available for free download and works with the majority of digital assets. The underlying software code for the Trust Wallet app is completely open-source, allowing anybody to audit and verify it.
Additionally, Trust includes a built-in Web3 browser that enables interaction with decentralized applications. Additionally, you will be able to stake money right from your Trust bitcoin wallet and earn up to 11% APR. At the time of writing, 12 digital assets, including Binance Coin, Tron, Tezos, Cosmos, Terra, Algorand, and others, are supported by this feature.
Since it enables you to purchase tokens with your debit or credit card, Trust Wallet is regarded as one of the finest Bitcoin wallets in the UK. You can use the Trust bitcoin wallet to use your digital currencies to pay online. Trust Wallet enables you to keep your NFTs created on Ethereum and the Binance Smart Chain, just as Crypto.com and Coinbase.
8. Exodus
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You may download Exodus for free and use it as a software wallet on your desktop or smartphone. One of the finest bitcoin wallets in the UK for beginners, this non-custodial software app is easy to use and features a user-friendly layout.
From the Exodus dashboard’s home screen, you can quickly and easily see your complete cryptocurrency holdings. You may trade cryptocurrencies from within the wallet, and it supports over 200 different cryptocurrencies. Additionally, this wallet enables you to receive interest on your cryptocurrency investments.
The Compound.finance software, which easily links with the Exodus bitcoin wallet, makes this capability possible. Exodus provides two options for you to restore access to your digital assets in the event that your computer or mobile device is lost in terms of backup assistance.
The first one is a 12-word recovery phrase created during wallet setup. Second, after inputting your password, Exodus also offers an email restore tool with a link that you may click to access your crypto.
What is a Bitcoin wallet?
Digital currencies do not have a tangible representation, in contrast to fiat money like the British pound. Instead, a blockchain serves as the host for cryptocurrencies.
Simply said, the keys (or passwords) to your digital assets that are stored on the relevant blockchain network are kept in your bitcoin wallet.
Let’s dissect a bitcoin wallet’s operation to make it clearer for you:
Every bitcoin wallet includes 2 keys, one of which is public while the other is private.
- Wallet addresses are a typical term for public keys. Anyone with access to your public keys can send you cryptocurrency.
- A private key, on the other hand, functions somewhat like a password and is the sole way for you to withdraw or move your cryptocurrency.
You must safeguard your private keys because of this. They can open your wallet and seize the digital assets you have stored in it if someone else gets access to them.
Along with security, you should take into account the functionalities provided when looking for the finest Bitcoin wallet in the UK.
In reality, the best bitcoin wallets available today provide a tonne of features and let you buy cryptocurrency right from the app’s user interface.
Some even let you participate with dApps, boost cryptocurrency market liquidity, and make passive income from your digital assets.
Types of Bitcoin wallets
There are several different types of bitcoin wallets available in the UK. What you want to do with your digital assets and the services you need will determine which option is best for you.
The many different types of cryptocurrency wallets that are available to you in the UK are described below to assist you in making the best decision.
Software Wallets
The best solution for you is definitely a software cryptocurrency wallet if convenience and usability are your top priorities. These can be found as desktop applications, smartphone apps, or browser add-ons.
As you might expect, all you need to do to access your software wallet is sign in to the program. In actuality, this category includes all of the top Bitcoin wallets that we identified in our guide.
Hardware Wallets
Physically, a hardware bitcoin wallet resembles a USB drive. It serves as a cold bitcoin wallet by keeping your digital assets’ private keys offline.
As a result, even if your computer or phone is compromised, you can be certain that your crypto is secure.
The additional security, meanwhile, can occasionally be a nuisance. For instance, if you want to access your digital assets, you must always have this device with you.
Additionally, the best hardware bitcoin wallets in the UK can go upwards of $100, which, when converted to pounds, can be a sizable sum.
Paper Wallets
Paper wallets offer a method for offline storage of your cryptocurrency private keys. In essence, you will print a piece of paper with the private keys to your wallet on it. The private keys could also appear as a scannable barcode generated by an application.
This implies that you must always keep this piece of paper safely stored. In addition, paper wallets are less practical than their software counterparts. However, others would consider this a free means to safeguard their tokens.
How to begin with a Bitcoin Wallet?
Getting a Bitcoin wallet is a really easy and simple process, especially if you decide to do it using eToro, the best Bitcoin wallet. There are only 3 steps in the procedure, which are covered in full below.
Step 1: Open an Account
The initial and most crucial step for you to undertake is to establish your trading account on eToro. You can accomplish this by visiting their website, selecting Start Trading, and completing the form. Typically, the form will request your full name, contact information, and the creation of your future login information.
After completing the form, the next step is to confirm your identity. To verify your account and start trading on eToro, you must provide both proof of identity and proof of address. You may usually become a verified user within a few hours of starting the verification procedure.
Step 2: Download the eToro Wallet
The next step upon making your eToro account is to download the eToro wallet app on your smartphone. Following that, you may use your eToro login information to use the wallet app.
Step 3: Add Bitcoins
The last step is to add BTC to the eToro wallet. You can move Bitcoins from another wallet to your eToro wallet using that address if you already have them there. Otherwise, you can just visit the eToro trading platform and acquire bitcoins if you don’t already have any. They can then be transferred to other bitcoin wallets after appearing in your wallet.
Conclusion
There are a number of solutions available if you’re trying to trade bitcoins and are asking what the best Bitcoin wallet for beginners is. Few of them, though, can compare to eToro, which is largely regarded as the finest online Bitcoin wallet. It is not only the most secure custodian wallet, but it also enables commission-free trading of BTC and other cryptocurrencies on the eToro platform. Together with its user-friendly layout, the broker’s stringent regulation, and the accessibility it provides to social trading, this makes it the best free Bitcoin wallet you can use.
Frequently Asked Questions
How to find Bitcoin wallet’s address?
This is dependent upon the style of wallet you selected. If it’s a smartphone wallet, you can often view your address as quickly as you activate the application. If you choose an online wallet, your account dashboard is where you can locate your address.
How do I secure the private keys in my wallet?
Writing down your private keys on paper and storing them safely is the simplest approach to keeping your wallet safe and secure.
Can you use the same wallet to hold both Bitcoin and Ethereum?
You can store your BTC, ETH, and other digital currencies within a single wallet if you’re using one that supports multiple digital currencies.