Best Bitcoin Wallet for iPhone 2022
Ever since the Bitcoin network emerged in 2009, there is no denying that Bitcoin (BTC) has taken the world by storm as an alternative to the current outdated financial system. In the early days, acquiring, storing, and trading Bitcoin was no easy task but over the years, and with the success that Bitcoin has achieved, things have started to change.
Nowadays, there is much more information, more sophisticated technology, and more developers working on various apps and devices to help refine cryptocurrency usage even more.
One of these apps is the crypto wallet, essential for safely storing and transacting with your digital assets.
In today’s article, we’ll address some of the best Bitcoin wallets compatible with the Apple company mobile products such as iPhones and iPads or any other iOS mobile phones and devices. We’ll cover a whole list of different wallets and some of their best features and drawbacks.
Digital Wallet Guide for Beginners
When there was only Bitcoin, its creator had designed the first cryptocurrency wallet in order for the first potential users to have a device where they can store their newly purchased cryptocurrency coins. The first wallet was called the QT wallet and fell into the software wallet category, or in those times, the only wallet category.
The QT wallet had an effective design but it required users to download the whole blockchain history in order for the wallet to sync with the network. This was effective for the first year but after that, when Bitcoin was adopted by more and more users, the wallet became a hassle to use due to the large size that was taking up a lot of memory space on users’ hard drives.
Over the years, many different wallets have been designed and the process of safely storing cryptocurrencies has been refined to a satisfying degree. Safety measures like two-factor authentication, recovery keys, and mnemonic seed phrases are standard in the crypto wallet industry. As for the wallets themselves, there belong to one of the following two types of wallets: software wallets and hardware wallets.
Software wallets or hot wallets are digital wallets that are available as device wallets. The devices that utilize these wallets often come in the form of personal computers and mobile devices with different operating systems like Android and iOS. For mobile devices, the software wallets come in the form of a wallet app or mobile wallet that can be downloaded from the app store, i.e. Play Store for Android and the Apple Store for iPhone devices.
These wallets have a constant connection to the internet and are practical for storing and making crypto transactions on the go. For purchasing crypto through the interface, users need only connect their bank account credentials and they’ll be set for conducting their transactions.
In terms of safety, they are nowhere near as safe as hardware wallets but with the most modern security features for storing private keys like two-factor authentication along with smartphone features like face ID and fingerprint scan, depending on the mobile device.
Other features may include SMS authentication or Google authentication. Users shouldn’t experience any issues when it comes to the security of their private keys as these industry-standard features have proven effective in providing asset safety so far.
Hardware wallets or cold wallets are physical devices that aren’t connected to the internet and serve as cold storage for storing private keys. These wallets are one of the safest methods for storing private keys and the only way that they can be compromised is through the damage done to the device or theft. However, some premium devices like Ledger and Trezor have backup systems implemented for cases like these.
The most popular ones come with a built-in Bluetooth option for mobile device connection and they support multiple currencies but that depends on the model and price. For example, Ledger Nano S costs $59.00 USD and can support up to 7 digital currency apps, while its successor – the Ledger Nano X – costs twice as much but supports up to 100 apps. The Ledger Live program is a great option for storing crypto on your iOS device but since it’s not free, we’ll exclude it from our list.
We recommend that users utilize a combined approach with both a software and hardware crypto wallet for maximum protection by keeping the bulk of their coins safe in a hardware wallet and storing a small portion in a software wallet for day-to-day trading.
The Best Bitcoin Wallets
The Coinbase Wallet is a wallet supported by the cryptocurrency exchange Coinbase but you don’t have to create a Coinbase account in order to use the wallet. The Coinbase Wallet is a software wallet that is available for multiple devices including iPhone.
In terms of storing Bitcoin, the Coinbase Wallet is a comprehensive and effective wallet that boasts great security features like two-factor authentication and a direct connection to the Coinbase crypto exchange if users choose to buy Bitcoin or conduct their transactions on the exchange. Users can purchase Bitcoin directly from the wallet by simply linking their debit card or credit card within the wallet interface. The wallet supports popular currencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and all other ERC-20 tokens.
This unique wallet is suited for both beginners and advanced active traders due to the friendly user interface, secure backup, and the fact that it’s completely free of charge. Potential users can find this digital wallet as a mobile app directly in the Apple store on their iOS devices.
Electrum is an open-source digital wallet that we recommend due to the security features it provides, which include both cloud and cold storage options. Electrum is one of the first Bitcoin wallets that was launched back in 2011. Due to the fact that Electrum is an open-source wallet, it allows its users to customize their transaction fees and choose between Legacy Bitcoin and post-Segwit Bitcoin.
The security features implemented on the Electrum wallet include a custom security tier level. Users can choose between two-factor authentication or multi-signature wallet security, as well as a seed phrase with personally chosen words.
The fact that Electrum gives you the option to choose between two different Bitcoin versions, makes it more useful for experienced users but the user interface could benefit from some visual clutter removal. New and inexperienced users could easily get lost in the different windows and panels that will engulf their iPhone so it’s best to spare a couple of hours exploring the nooks and crannies of the wallet before choosing Electrum as your main storage app.
The wallet is free of charge and can be found in the Apple store for download.
Mycelium is an open-source mobile-only digital wallet that’s been around for a decade. Like the Electrum wallet, Mycelium can only store Bitcoin and ERC-20 coins but has a more user-friendly interface and interesting features. The two best features of the wallet are the built-in exchange for Bitcoin transactions and the cold storage option that lets users аccess their stored crypto from the mobile wallet.
The wallet is free and can be downloaded from the Apple store.
Edge (AirBitz) Wallet
Edge or AirBitz wallet is an open-source iOS wallet. The wallet is easy to use and makes purchasing and trading bitcoins a breeze because it offers a built-in Bitcoin Merchant Directory.
The Edge wallet can be interlinked with the iOS device and you can utilize its FaceID and Touch ID features to add an extra layer of security for your coins. Also, users can purchase crypto gift cards straight from the merchant directory. The supported coins are Bitcoin and the rest of the ERC-20 tokens. Another great feature is that the Edge company doesn’t have access to the number of your crypto assets stored in their device. Users have complete control over their assets and keys without any interference.
Some setbacks include a slow exchange purchase, random app crashes without any intention of improving stability and lack of hardware wallet support. All in all, the wallet is free to use, offers interesting Apple features for safety, and can be downloaded on the Apple store.
The BRD wallet is a non-custodial Bitcoin wallet for iOS devices. This wallet is targeted at beginners who are looking for a quick and easy way to store their crypto due to its simple user interface and multi-currency support. The list of supported cryptocurrencies includes Bitcoin, Ethereum, Ripple, Wings, Time, Salt, and many other less familiar cryptos.
The security features include two-factor authentication and a custom PIN for device access. In case some users forget their password or PIN number, there is a recovery phase that can be used to regain access.
The most interesting feature of the BRD iOS wallet is the ability to conduct fiat currency payments and in-wallet transactions within the app. There is no need for any third-party interference like purchasing crypto from exchanges such as Binance and then storing it in the wallet.
Another great feature is the simplicity of the wallet app, from the installation process, all the way to making your first purchases or storing crypto. This was done intentionally and any complex options were left out in order to suit the needs of newbies.
The Jaxx Liberty wallet is one of the most popular iOS wallets because it supports many cryptocurrencies like Bitcoin, Ethereum, and up to 80 different coins, offers a built-in crypto exchange, and native block explorers for real-time events updates. There is also a news panel within the app, so you can stay in the know with the latest information about the assets stored.
A slight downside of this wallet is the fact that the backup phrase is limited to 12 words instead of 24, plus there are some unironed coding issues preventing users from sending coins. On top of that, Jaxx lacks a hardware wallet compatibility feature.
The wallet is free to use, so if you can get over these setbacks, Jaxx should be perfect for users who want to meddle with different cryptocurrencies and can be downloaded from the Apple store.
The Exodus wallet is a closed-source wallet to iOS devices that supports a large number of cryptos, has more than decent customer support, and cold storage support.
Exodus is available both for desktop OS and mobile OS like iOS. It offers a simple and friendly user interface and has a built-in crypto exchange. One of the most interesting features of the Exodus wallet is the capability to swap between a large number of cryptocurrencies. Currently, there are swaps that are available with over 100 coins.
Because of its simplicity, the Exodus wallet is targeted at beginners, and also because of the great 24/7 customer support. Having sophisticated customer support is crucial for beginners who might feel overwhelmed with all of the options that the crypto market has to offer.
On the other hand, active traders might find the Exodus wallet lacking in some areas such as the closed-source nature of the wallet app. Open-source wallets can be reviewed by anyone and bugs and glitches in the system can be reported back or even fixed by the user who found them. In the case of Exodus, however, users must rely on the support team to make sure that everything is securely running.
The Exodus wallet is free and it’s readily available on the Apple store.
The wallet once known as Copay changed its name and is now under new management and is known as BitPay wallet. Other wallets that are listed as Copay wallets might be malware so we advise users to steer clear of them and only trust the official BitPay name tag.
The Copay/BitPay is an open-source mobile wallet app that gives users total control of their private keys and industry-standard security features like two-factor authentication.
The open-source wallet is created by the BitPay company and comes with multi-signature technology that protects you against unauthorized payments by asking for multiple approvals. Users can use the app for more than just storing crypto; it offers functions like monitoring expenses, business management, organization funds, and calculating expenses.
The mobile wallet app supports over 150 cryptocurrencies and users can download it for free from the Apple store.
A Few Words Before You Go…
As time goes on, countless cryptocurrency applications are created in order to give users an easier and more laidback experience when they are choosing a safe digital wallet for their crypto. Developers are creating more and more hybrid wallet apps that offer both hot and cold storage services to users. As we stated before, a combined hybrid approach to storing crypto is best for the long-term safety of your digital assets.
In today’s article, we’ve explained what digital wallets are and their subdivisions into software and hardware wallets, and we’ve written a list tailored for iPhone users with the best mobile wallets in the cryptocurrency industry. The only thing that remains now is to choose your favourite wallet and store as much crypto as you can.