Bitcoin mobile wallet is an app that allows you to store, send and receive your Bitcoin.
It is important to mention that the mobile wallet is not storing your coins but just allowing you to access your coins in the blockchain.
Regardless of where you buy your Bitcoin or any other cryptocurrency, we suggest moving them to your wallet rather than keeping them on an exchange.
Exchanges get hacked, and when they did, they use to split the loss across their members if they don’t have recovery funds.
There are a couple of types of Bitcoin wallets, and a mobile wallet is one of them.
In this article, we will introduce you to the mobile wallets, point out its pros and cons and share with you a list of top Bitcoin mobile wallets at the moment.
Table of content:
- What is the mobile wallet?
- What are the pros and cons of Bitcoin mobile wallet?
- How to secure your Bitcoin mobile wallet?
- Best Bitcoin mobile wallets
- What is BreadWallet (BRD)?
- What is the Edge wallet?
- What is the Samourai wallet?
- Which is the best Bitcoin mobile wallet?
As mentioned above, it is an app on your phone that allows you access to your coins in the blockchain to manage them.
The private key of your coins is stored inside your mobile device.
In case your mobile device goes missing, so does the private key.
That’s why it is very important to secure your mobile wallet properly, so the coins you are going to store going to be safe and secured.
On the other side, its convenience is the reason why people are using mobile wallets.
It is very easy and straightforward to use.
Within a few clicks, you will send your coins to another wallet address.
Almost all of them allow you a QR code scanner, which makes this process even easier.
All you need is to scan the QR code of a Bitcoin wallet address and click send.
That’s the biggest advantage of a mobile wallet and the reason why we suggest everyone having some part of your coins in your mobile wallet.
It will make your everyday spending way easier rather than bringing your hardware wallet with you.
On the other side, convenience comes with security costs.
It is one of the least secure Bitcoin wallets.
The mobile device tends to get lost, stolen, or broken quite often, so you need to take extra steps to secure your coins.
They are connected to the internet, and because of that, they are exposed to the risk of being hacked.
Those wallets are called hot wallets.
That’s why we do not suggest holding a significant amount of coins on your mobile device.
If you want the highest level of security for your Bitcoin and other cryptocurrencies, you have to consider getting a hardware wallet.
Your private keys will be stored in an offline environment, far away from vulnerable malware software.
But even if you lose your mobile device or it gets stolen, there is a way to gain access over your coins if you’ve secured your wallet properly.
The first layer of security is setting up the PIN on your mobile phone that is known only to you.
You need to do the same for your mobile wallet because the majority of them allow you to set a PIN or password that you will be required to enter every time you want to access your wallet.
These two are basics, and they will protect your wallet if it gets stolen but they are still not offering you the way of access to your coins if the mobile wallet goes missing, forever.
To secure your wallet, you need to extract the seed phrase (backup key).
The backup key is a combination of 12 or 24 words that will be used to confirm your identity and allow you to retrieve your coins.
That’s the only way to properly secure your coins because you will be able to access them whatever happens with your mobile device.
There are numerous Bitcoin wallets available today and pointing out the best mobile Bitcoin wallet is not easy.
Google Play Store and App store do not check every wallet that is available in their store.
You may come across an app that is simply a malware trying to steal coins that are going to be deposited to the wallet.
Not only that there are a lot of scam wallets out there, but also copycats that will try to look the same as the original wallet with the intention to steal your coins.
That’s why I’m suggesting you go to the official website of the wallet and following the download link.
Later on, we will link the official website of the wallet providers, so you will be sure that you are downloading the right mobile wallet.
In my opinion, the best Bitcoin mobile wallets are:
The first two are available for both IOs and Android devices, while the Samourai wallet comes only in an Android version.
BRD is a mobile wallet established in 2015 in Switzerland that operates currently in more than 150 countries.
It is a secure and simple way to store and manage your Bitcoin.
If there is something that the BRD wallet stands out from the others, it is its simplicity to use.
Whether you are experienced, or just getting started, the BRD wallet makes Bitcoin easy.
You can send and receive coins anytime, anywhere, with complete financial privacy with the tap of a button.
You do not have to sign up, log in, nor give your personal information.
All you need is to download it, write down the recovery phrase (backup key) for safekeeping.
It will ensure the security of your funds, even if you lose your phone.
Initially, it was launched only for IOs devices, but in 2016 they published a mobile wallet for Android devices.
If you want to download the BRD wallet for IOs devices, click here.
If you want to download the BRD wallet for Android devices, click here.
Open your BRD wallet once the download process is over.
Click on Get Started.
The first thing you have to do after clicking two times on the Next button, is to set up a 6-digit PIN.
Once you do it, it is time to generate your recovery key that will be used to retrieve your coins if your money goes missing or you decide to upgrade your phone.
Once you click on Continue, it will display 12 seed words one by one.
Make sure to take a piece of paper to write those words down in the right order.
After you do it, you will be asked to write two words to confirm that you’ve written words down.
Those 12 words will be your recovery key if something happens with your wallet and you lose the access to coins.
Your wallet is ready to be funded with the money.
In the beginning, the BRD wallet wasn’t offering an option to buy a Bitcoin, but after a partnership with Simplex, BRD users are able to buy Bitcoin directly from their wallet.
Here is the guide on how to buy Bitcoin from your BRD wallet:
Now, once your account is ready, you may be wondering…
The process is very easy and straight forward.
Go to the main page of the wallet where your coins are displayed and click on Bitcoin.
The next step for you to do is click on Receive.
After you click on Receive, the wallet address will pop up together with the QR code.
Copy the wallet address or use the QR code to receive Bitcoin to your BRD wallet.
You can send yourself from the other wallet or cryptocurrency exchange or you can give it to other people to send Bitcoin to your BRD wallet.
A similar process is used for sending coins as we used to receive them.
Instead of clicking on receive, click on Send.
You will be asked for the recipient wallet address, the amount of coins and to set up fees.
We advise choosing regular fees unless you need it to be confirmed instantly (choose Priority in that case).
If you have any questions regarding BRD wallet, click here to check their very detailed support page with the answers to your questions.
Edge is an open-source mobile multi-currency wallet.
It was launched back in 2014 and initially, its name was Airbitz.
In Q4 2018 it was rebranded and got a new name, Edge.
Not only that it offers you a secure place to hold your coins but also provides the option to buy coins via credit or debit card as well as exchanging your coins to other available coins.
There is one thing I would like to point out before helping you understand how to set up an Edge wallet.
At the registration, they won’t require any of your information and everything you need is choosing the username and password.
But this convenience comes with the risk.
If someone finds out your username and password, he can gain access over your coins and move them anywhere he wants.
Make sure to keep your username and password only for yourself if you don’t want to get in trouble.
The big disadvantage of the Edge wallet is the inability to extract recovery phrases (backup key).
Username and password act as a backup help you to get access by logging on another mobile device but if the Edge wallet gets hacked as an entity and goes out of business, it is a big question of what will happen with our coins.
As mentioned above, the Edge wallet comes in the IOs and Android version.
If you want to download an IOs version, click here.
If you want to download an Android version, click here.
Once downloaded, it’s time to set up your Edge mobile wallet.
Open your Edge wallet on your mobile device and click on Create account.
Then you will be asked to choose the username and password.
As a third requirement, you will be asked to set up a PIN that will act as an additional layer of security.
Once the wallet setup is done, you will be guided through a short guide on how to use the Edge wallet.
After you go through the guide, you will be on the main page of your Edge wallet.
What we suggest you is clicking on the icon at the top right corner and scrolling down and clicking on the settings.
It is recommended to set up 2 Factor authentication and Password Recovery to additionally increase the security of your Edge wallet.
If you have any questions regarding the Edge wallet, feel free to click here to check out their support page where you can get the answer to your question.
At the bottom of the main page of your wallet, you can see two buttons, Request and Scan.
To receive coins to your wallet, click on Request, which will display the wallet address where you should send your coins.
It will also show you the QR code that can also be used for receiving the coins.
To send your coins, you need to click on the Scan, which will automatically allow you to scan the QR code of a recipient.
If you don’t have a QR code but just a wallet address, click on the address, and you will be able to past in recipient wallet address.
Samourai wallet is an open-source mobile Bitcoin wallet that gives the main focus on user privacy and security.
Samourai wallet will use a new wallet address every time you do a transaction to protect your metadata and keep your identity and transactions private.
It gives Tor and VPN support so you can use an anonymous IP address that’s not tied to you or your location.
Samourai wallet allows you to interact with your wallet by sending SMS codes.
Not only that you can retrieve your coins using another mobile device, but also you can wipe out the data and clean your wallet if it goes missing or gets stolen by sending SMS.
You own and have full control over the private key.
It comes with many more features, and these were just a few of them.
The main disadvantage of the Samourai wallet is that it is available only in the Android version.
If you are an IOs user, you won’t t be able to use the Samourai wallet.
If you want to download a Samourai wallet, click here.
Once downloaded, it is time to set up a Samourai wallet.
Here is the guide on how to set up your Samourai wallet:
The first step is to click on the Create Wallet button that will lead you to create and confirm passphrase.
It will help you to enhance additional security and allow you to export your coins to another mobile device.
It is extremely important to remember this passphrase and keep it secured because if you don’t know the passphrase, you will lose your coins because their support does not have access to it and cannot help you to retrieve it.
The next step is setting up the PIN code between 5 and 8 digits.
After that, it will display 12 words that are your backup key.
Make sure to write them down in order one by one and keep them safe.
If someone knows those words and passphrase, he can gain access over your coins and steal them from you.
Once you write seed words down, your wallet will be successfully created and ready for use.
After you’ve read this article, you may be wondering which wallet to choose for yourself?
All these three wallets come with their pros and cons.
As a beginner, probably the best option for you is the BRD wallet because it comes with basic features that are easy to understand to anyone.
If you want extra security, then the Samourai wallet is for you.
I am using the Edge wallet because it comes with both basic features but also advanced ones that increase the security of the wallet.
My main purpose of using a mobile wallet is to show people how easy it is to send and receive Bitcoin and that’s why I hold just a small part of my portfolio on the mobile wallet.
Whichever you choose, avoid holding a large number of coins on your mobile wallet.
It was meant to help you send and receive coins on an everyday basis but it is one of the least secure types of wallets.
Any large amount of coins should be moved to a more secure option (hardware wallet).
I hope you gained a lot of helpful information in this article and that it answered the questions you had about Bitcoin mobile wallets.
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