Best Bitcoin Wallet for Android 2023
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As the cryptocurrency market expanded following the success of Bitcoin (BTC), many different accessories for cryptocurrencies emerged to provide safe storage and easier handling of your crypto. One of these crypto accessories is the indispensable cryptocurrency wallets that come as physical hardware devices (cold wallets) or online software wallets (hot wallets) available on your PC or mobile device.
If you’re an avid Android user who’s looking for the ultimate Bitcoin wallet, we have just the right guide for you. Stick with our review for the ultimate guide on Bitcoin wallets compatible with Android devices and a detailed explanation of their best (and worst!) features.
What Are Bitcoin Wallet Apps?
Cryptocurrency wallets are used to store users’ private keys. Cryptocurrencies themselves aren’t really stored physically in these wallets, as they only exist as a piece of code stored on the blockchain. The private keys prove the user’s ownership over the said assets and are used to digitally sign transactions sent from the wallet. Cryptocurrency wallets act as access points for users to store, send, or make purchases with their crypto.
The first wallet created for Bitcoin was the QT wallet, created by none other than Bitcoin’s creator himself – Satoshi Nakamoto. Although the wallet still exists, it’s rendered somewhat obsolete because of its tech limitations such as asking users to download the entire blockchain history to sync it with their wallet.
Since QT, developers have launched many different types of wallets, open-source, close-source, multisig (multisignature wallets), etc, and a whole market was born for crypto storage devices.
Some wallet apps support multiple operating systems like Android, iOS, Mac, Windows, Linux, and users can use the same wallet on multiple platforms.
As for the wallets used to store Bitcoin on Android devices, they always come in the form of apps. These apps can be downloaded through the Google Play Store (the official Android store) and users can transfer their crypto from their current wallet to their new Android wallet through by following the instructions on the interface or by scanning QR codes or PC transfers.
The security features on most of the Bitcoin wallet apps include the current industry-standard features like two-factor authentication, face ID recognition, fingerprint scanning, and more. Additional security measures like mnemonic seed phrases, backup, and additional PIN codes are available on certain mobile wallet apps as well.
Below we’ll make a list of all the best Bitcoin wallets for Android devices.
The Best Bitcoin Wallets for Android Devices
Nowadays, most wallets are multi-currency wallets, which means they support at least several of the most popular cryptocurrencies besides Bitcoin, such as Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), Dogecoin (DOGE), and other altcoins and ERC-20 tokens. That’s why this list doesn’t include Bitcoin exclusive wallets only.
A word of advice before we dive deeper into their features. The best way to protect your crypto assets is to use a hybrid storing system. This means utilizing a hardware wallet, most preferably a Ledger device (e.g. the model Ledger Nano X), as they are extremely safe and affordable. Or if you want a premium feel, you can give Trezor devices a look, especially their Trezor Model T.
The idea is to store the bulk of your crypto in a cold storage device and a portion of your crypto in a software wallet for any day-to-day trades, as software wallets apps have been known to be susceptible to malware created by hackers in order to reveal your private keys.
Now it’s time to end these technicalities and focus on the different wallet apps that support Bitcoin on Android devices.
Coinbase Wallet – Best Crypto Wallet for Beginners
You’ve probably heard of Coinbase, one of the largest crypto exchanges on the market where potential crypto users can buy Bitcoin among other currencies. However, the Coinbase Wallet is a completely separate application from the Coinbase exchange, and users aren’t required to create a Coinbase account to use the wallet. The Coinbase wallet is a multicurrency wallet that supports multiple digital assets including all ERC-20 tokens and of course, Bitcoin.
The wallet provides a digital crypto exchange and its easy-to-use interface is targeted at Bitcoin novices. Features like buying, selling, and sending crypto are neatly laid out in the user interface. The wallet is free to use and users can download it from the Google Play Store on their Android device. In terms of safety, the wallet includes industry-standard features like two-factor authentication (2FA) and data backup.
Electrum Wallet – Best Cryptocurrency Wallet for Advanced Traders
The Electrum wallet is one of the oldest mobile app wallets for storing Bitcoin. The wallet was created back in 2011 where smartphones were still a developing technology, but as the industry evolved, so did the wallet. One of the features that shows the wallet’s age is the out-of-date user interface. Beginners can really struggle among the different panels and options that the wallet provides. On the other hand, advanced users can really benefit from the wide array of options offered through the interface.
Features like open-source access, custom transaction fees, variable levels of security, and the most interesting feature – Segwit Bitcoin or Legacy Bitcoin. The security features that include two-factor authentication, multi-signature options, along a backup seed phrase with custom words make this wallet a great choice for storing Bitcoin on Android devices. If you can tolerate the dated user experience and are willing to spare a couple of hours tinkering with the wallet’s features, the wallet is available for free on the Play Store.
Mycelium Wallet – Best Hardware Wallet Integration
The Mycelium wallet is one of the most popular Bitcoin wallets for Android devices due to its cold storage capacities. There aren’t many cold wallets available for mobile devices and Mycelium takes the next step in crypto safety.
Mycelium is an advanced wallet and beginners might struggle a bit with the different options like QR code payments, cold storage features, and private key control but after using it for a few days they should feel right at home. Experienced users can benefit from these features and can even utilize the wallet to integrate with their own personal hardware wallet. This can be achieved by creating secure online payment accounts through the wallet. Another interesting feature is the Gildera exchange API that integrates buy and sell features with the wallet.
All in all, the Mycelium wallet is a jack of all trades when it comes to purchasing and storing crypto from the same device. The wallet is free to download from the Play Store but there are fees for purchasing and selling crypto from exchanges through the wallet.
CoPay Wallet – Best Multi-Signature Wallet
Following up, we have the CoPay wallet that was recently rebranded to BitPay, the name of the company that owns the wallet. CoPay differs from traditional wallets in terms of its features. The feature that makes it stand out is the ability to manage multiple wallets for Bitcoin directly from the app. The multi-signature feature allows multiple users to gain access to a single Bitcoin wallet similarly to a joint bank account. Some other industry-standard features include wallet backup and restore, two-factor authentication, device-based security, and push notifications.
The multi-signature feature is considered safe because, in order to conduct a transaction, every person who has access to the wallet must confirm it. This eliminates any third-party interference and makes it impossible for anyone to withdraw any funds from the wallet.
The wallet is free to download on Android devices but similarly to the Mycelium wallet, there are fees for purchasing and selling crypto through the wallet.
Exodus Wallet – Best Wallet With a Built-In Crypto Exchange
Exodus is both a desktop and a mobile app wallet offering users multi-platform support. The wallet also hosts a built-in cryptocurrency exchange and supports more than 100 different crypto assets including Bitcoin.
One of the best features of the Exodus wallet is its simplistic user interface, allowing new users to swipe between the windows and panels in the app with ease, without being overwhelming. Another great feature is the wallet’s excellent customer support. This is an important feature as many wallet providers skimp out on customer support, which turns resolving issues into a chore for new users.
Although beginners can benefit from this wallet, advanced users might feel that some features are excluded. The fact that the Exodus wallet is a closed-source wallet prevents tech-savvy users from tinkering with its safety mechanism, plus the control over your private key belongs to the Exodus support team. This is not necessarily a bad thing as the support team has proven that they are efficient in what they do but it makes the key liable to cyber threats nevertheless.
Advanced features include custom fees that users can set to keep their costs down at the price of transaction speed. There is also a feature that enables users to automatically set fees for faster transaction completions. If you’re looking for other wallets like Exodus, you can read more of this here.
Guarda Wallet – Best Modern Wallet Solution
The Guarda wallet is one of the newer Bitcoin wallets on the Android marketplace, being launched in 2017. The company behind the wallet consists of specialized blockchain technicians who have been creating blockchain-related products in the last 4 years.
The main idea for the Guarda wallet was a wallet that will provide users with security, a simple user interface, and easy asset management. In terms of anonymity, the Guarda company values users’ privacy and doesn’t store any backup files, private keys, or any user data within its database. Every piece of information provided depends solely on the users.
The wallet also has a 24/7 customer support team and according to some users’ reviews, the grades are solid. The issues were quick to respond and all issues were solved. In terms of fees from using the Guarda wallet to purchase or trade crypto, the news isn’t that great as fees are known to be on the steep side with a fixed 3.5% for using the built-in exchange.
Jaxx Wallet – Best Open-Source Bitcoin Wallet App
The Jaxx wallet is an open-source Bitcoin wallet that’s available on Android devices. The wallet supports Bitcoin and a number of other profitable digital currencies. One of the wallet’s best features is the locally-created private keys. This means that the private keys are generated on the device itself.
It’s impossible for anyone to view your keys without access to your device. Other features include recovery phrases, no sign-up confirmation, or providing personal credentials like ID. The downside to Jaxx is the stability of the wallet. There have been complaints that the wallet crashes along with some unironed bugs and glitches in the interface. The wallet is free to use without additional fees and can be downloaded on the Play Store.
A Few Words Before You Go…
In this guide, we’ve shown you a plethora of different wallets, all of which offer their own features and capabilities. We started from the best beginner wallet and continued on to wallets that provide anonymity, wallets for advanced users, wallets with great customer support, open-sourced, closed-source wallets, etc. Most importantly, each and every one of these wallets are supported on Android devices free of charge.
Mobile phone wallets are increasing in popularity as their security features are increasing as the crypto industry is evolving and there are many blockchain tech experts developing apps with improved features for private keys and online security.
We believe that any type of user will find a wallet in our article that will fit their needs and trading approaches. The only thing that remains is to choose your wallet and store your crypto on your desired Android device.