The 5 Best Bitcoin Hot Wallets to Store Your Crypto

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Not sure if you are yet ready for a cold wallet? 

Ask yourself this:

If you are losing sleep with all the exchanges getting hacked frequently and want to protect your crypto, then click on the Cold Storage wallet button below to see our picks for these.

If you are on a tight budget or prefer the flexibility and quick access that a wallet app on your phone or computer provides over the extra safety measures of a dedicated Bitcoin storage device? Well then step up as we look at the best Bitcoin hot wallets out there right now. And yes, they’re all free to use!

The following wallets are not listed in order of preference. What’s best for me won’t be the best for you. The right hot wallet for you really depends on your needs in terms of security, support, and platforms. Therefore, do your research on all of them and pick what works best for you. 

Exodus is an established choice as a hot wallet to keep your Bitcoin safe, and was also the author’s first Bitcoin wallet he set up way back in 2017 (and to which he subsequently lost access to within a week after not backing up his credentials properly!). 

The wallet software is designed to work on Mac, Linux, and Windows, and has a companion app for use on IOS and Android devices. 

A desktop interface is also available and is very beginner-friendly. The Exodus wallet is in sync with the Exodus exchange, allowing for easy transactions once funds are added to the wallet. While there are some volume limits with the exchange.

Exodus supports more than 130 types of cryptocurrency, including well-known favorites such as Ethereum, Tether USD, and of course Bitcoin. If you wish to later transfer your funds to a form of cold storage, you are in luck, as the Exodus wallet is fully compatible with the Trezor Model T and Model One. 

Exodus  has 128Bit Encryption with a 12 word recovery phrase that protects your private keys for all of your crypto. (see our security tips section below to help further protect your crypto)

Blockchain hot wallet is Currently the #1 Worlds (over 80million wallets installed) downloaded Hot wallet app. It has desktop, IOS and Android apps that are very easy to navigate. You can buy sell and swap. 

Blockchain also has a Gold Membership Rewards account that you get upto 16% returns on your crypto. Read the terms and conditions very carefully.

Blockchain has 128Bit Encryption with a 12 word recovery phrase that protects your private key. 

Wasabi is also a strong pick for Bitcoin holders. It is open-source, available on all popular computer software, and highly focused on security and privacy. 

While most wallets focus on these features, Wasabi is uniquely trustable with Bitcoin, as it offers a feature known as Coinjoin. 

Coincoin helps Wasabi make Bitcoin transactions more secure by combining many small coins from multiple users into a single, large transaction. This also obscures personal information, as it is no longer a trade involving an individual wallet, and for even more protection, trades are routed through the Tor network, helping conceal the user’s IP address. 

Wasabi is a great choice for anonymous, safe transactions involving Bitcoin when a hot wallet is necessary. Please note however that coin mixing applications are in the crosshairs of regulators, for money laundering concerns. You can read Wasabi’s take on this here. 

Binance-backed Trust Wallet is a great choice for Bitcoin users who want to become more familiar with DeFi protocols and applications, while also safely and conveniently storing Bitcoin and other crypto assets in a hot wallet. 

A unique feature of Trust Wallet is its native token, the Trust Wallet Token (TWT), a BEP-20 utility token with many uses such as discounts on in-app cryptocurrency purchases and participating in the governance of Trust Wallet, allowing you to vote on proposed updates within the app. 

Trust Wallet is available on mobile devices and is fully open-source. It allows easy access to all DApps built on Ethereum and other blockchains conveniently through the Trust Wallet App. If you’re searching for a wallet to store Bitcoin while also becoming familiar with decentralized projects and alt tokens, TrustWallet is a great option to “Trust” with your crypto. 

MyCelium is an app-based wallet specifically designed to hold Bitcoin, and because its design is so focused, there are many features unique to this wallet that makes it a great choice for a beginner who wishes to dive headfirst into holding Bitcoin for the long term. 

For starters, the marketplace for MyCelium is integrated into the wallet, so there is no need to transfer Bitcoin to or from an exchange, making transactions safer and easier. Secondly, all chat history and transactions are encrypted, with even MyCelium only sees your general information, such as Bitcoin address, nickname, and location, etc. 

Unlike many hot wallets, MyCelium is also fully integrated with Ledger and Trezor, making it a great choice to buy Bitcoin if you plan to purchase a quality cold wallet later.