The Top 5 Safest Bitcoin Wallets for Beginners

Published September 23rd, 2023

Navigating the expansive sea of Bitcoin wallets can feel as perplexing as decrypting ancient runes for the uninitiated. If you've found yourself tiptoeing on the edge of the crypto universe, drawn by its promises yet wary of its complexities, breathe easy. We’ve tried all the Bitcoin wallets that currently exist.

We chose the Bitcoin wallets that offer the best combination of safety and ease of use for Bitcoin Beginners.

The Top 5 Safest Bitcoin Wallets for Beginners are:

  1. Exodus
  2. Trust Wallet
  3. One Key Wallet
  4. Coinbase Exchange Wallet
  5. Kraken Exchange Wallet

Understanding the importance of securing one's digital treasures, we've decrypted the vast information out there to bring you a simple guide on the safest Bitcoin Wallets for beginners.

No jargon, no fuss. Let's embark on this journey together and ensure your Bitcoin remains untouchable. But if you’re into remaining anonymous when using Bitcoin, we have another article on the top anonymous Bitcoin wallets for iPhone.

Let’s get right into it!

5th Safest BTC Wallet for Beginners: Kraken Exchange Wallet

  • Platform: Online Exchange Wallet

    Kraken Exchange was launched in September 2013. Since its launch, it has never been hacked. For Beginners, Kraken is the 5th safest Bitcoin wallet currently available.

Difficulty Level: Beginner

Kraken launched in 2013 providing Bitcoin, and Litecoin services, it has tremendously great customer support. Kraken supports more than 200 cryptocurrencies. US customers can use it to store their crypto and trade online.

Kraken is available in 190+ countries in the world. The only countries that can’t use Kraken are Afghanistan, Cuba, Iran, Iraq, Libya, North Korea, Venezuela, Yemen, Syria, Lebanon and Iran.

As a beginner storing crypto on exchanges can be useful since it gets you walking in the road of crypto. Once you get more experienced, we recommend going to an offline storage solution for Bitcoin.

Pros

  • Beginner-friendly wallet, cryptocurrency know-how, or terminology isn’t necessary to use it.
  • Online Exchange, Access from anywhere in the world(assuming you fill in KYC).
  • Generally, a safe exchange wallet. It hasn’t been hacked in the 10 years it’s been online.
  • Supports more than 200 cryptocurrencies including mainly Bitcoin.
  • Supports 190 countries for BTC trading and custodial wallet.
  • Offers other crypto related products.
  • Users can deposit US dollars quickly and trade on the same day.
  • Features 2 mobile apps for ease of access, one for pro trading and one for beginners.
  • Doesn’t require backing up the wallet like self-custodial wallets.

Cons

  • Not your Keys, Not your Crypto: If they get a reason to lock you out of your account, they can and they will.
  • You don’t have sovereign ownership of cryptocurrencies held with Kraken.
  • Kraken can still get hacked; your account can still get hacked which can lead to loss of assets.
  • Requires KYC, and AML documentation.

4th Safest BTC Wallet for Beginners: Coinbase Exchange Wallet

  • Platform: Online Exchange

    Coinbase was launched in October 2012. Since then, it’s never been hacked. It is currently the 4th safest Bitcoin wallet for Beginners. Coinbase is incredibly intuitive for new users getting started with crypto. It has onboarded millions of other users into Bitcoin.

Difficulty Level: Beginner

Coinbase offers an easy user interface that makes acquiring Bitcoin easy. If you’re a beginner, Coinbase is a great wallet. However, we don’t recommend holding large amounts of Bitcoin on exchanges. Once you get more experienced, it is better to move your crypto out of exchanges and into cold wallet storage solutions.

Pros

  • Intuitive user interface that is easy to follow and makes buying and holding Bitcoin easy.
  • Quickly deposit fiat currencies and trade right after.
  • Let’s withdraw crypto right after Fiat deposit and trade.
  • Trade futures within the web application
  • Available in 100+ Countries
  • Supports over 100 cryptocurrencies.
  • Never been hacked since its launch on October 2012.
  • Publicly traded company that has to adhere to tons of regulations and transparency laws.
  • Earn USDC by locking up USDC.
  • Earn passive income by staking different cryptos such as Tezos, Dot, Sol, etc.
  • Doesn’t require backing up the wallet like self-custodial wallets.

Cons

  • High trading fees compared to other exchanges.
  • Requires KYC and AML documentation.
  • Customer service is slow and can be tedious.
  • Might lock your account once in a blue moon.
  • Not your Keys, Not your Crypto: If they get a reason to lock you out of your account, they can and they will.
  • You don’t have sovereign ownership of cryptocurrencies held by CB.
  • Coinbase can still get hacked; your account can still get hacked which can lead to loss of assets(Though Unlikely).

3rd Safest BTC Wallet for Beginners: OneKey Mobile Wallet

  • Platform: Windows, Linux, MacOS, Mobile iOS/Android and Extension

    The OneKey Wallet is perhaps the safest Bitcoin wallet out of all of this list. It supports many safety features and looks pretty good for what it offers.

Difficulty Level: beginner-intermediate

OneKey offers many features that make the user more anonymous and provides a better layer of security. However, the app requires a little bit more know-how than the other applications on this list.

This wallet is for beginners who want more safety than ease of use. It is for beginners who are tech savvy but are just getting into crypto.

OneKey is an app for beginners who want to get more in depth into crypto. OneKey, as a company, also creates cold wallets, which can be used in combination with the mobile wallet to make a better, safer crypto experience. It is also available on all major devices and OSs.

Pros

  • OneKey is an Open-source wallet that is trusted, and battle-tested.
  • Allows multiple wallet creation using different private keys.
  • Allows connection to their hardware wallet.
  • 451 ratings on app store – 5 stars
  • Self-custody wallet
  • More than 30 cryptocurrencies are supported.
  • On all platforms
  • In-app crypto exchange
  • Hierarchical deterministic wallet
  • Doesn’t collect personal information.

Cons

  • Slightly less easy to use for beginners.
  • Not as great looking as other wallets
  • Hot Wallet: Private keys are stored on the device. Funds can be stolen or lost if the device gets hacked/compromised.
  • Requires private key management and responsibility.

2nd Safest BTC Wallet for Beginners: Trust Wallet

  • Platform: Mobile iOS and Android

    Trust wallet is the second safest Bitcoin wallet for beginners. It has a nice layout and is easy to use. Sending and receiving Bitcoin is easy with a TrustWallet.

Difficulty Level: Beginner

TrustWallet is a popular open-source wallet that is battle-tested. Owning Bitcoin is easier when you use TrustWallet. However we recommend using the mobile version since the desktop version isn’t as robust and good looking.

TTrustWallet allows users to receive other popular cryptocurrencies such as Ethereum and Solana. Navigating through the app is easy.

TrustWallet is supported in most decentralized applications such as Uniswap, Pancakeswap, etc. It also has an integrated exchange within the application.

TrustWallet is also supported by Binance themselves.

Pros

  • Easy to use user-interface and great looking app overall.
  • In-app crypto exchange
  • Supports more than 100 cryptocurrencies including Bitcoin.
  • Accepted by most Decentralized applications online.
  • Battle-tested and open-source wallet.

Cons

  • The desktop extension sucks and lacks support for many cryptocurrencies.
  • Hot Wallet: Private keys are stored on the device. Funds can be stolen or lost if the device gets hacked/compromised.
  • Requires private key management and responsibility.

Top Safest BTC Wallet for Beginners: Exodus

  • Platform: Desktop Windows, M1/M2 Macs, and Mobile iOS/ Android

    The top Safest BTC wallet for beginners is Exodus. Exodus is an easy-to-use desktop Bitcoin wallet. It looks absolutely amazing and allows users to hold many other cryptocurrencies aside from Bitcoin.

Difficulty Level: Beginner- Intermediate

Out of all of the wallets, Exodus is perhaps the best-looking Bitcoin wallet. It is rather easy to use. It also supports many other cryptocurrencies aside from Bitcoin.

Exodus is a non-custodial Bitcoin and cryptocurrency wallet that is available on pretty much all devices with a few exceptions.

People can create their own Bitcoin wallet on Exodus. Exodus has the user create a mnemonic key phrase to store all their Bitcoin and other cryptocurrencies.

Exodus is pretty safe for a person that is just getting started with Bitcoin, just remember to write down your key phrase and store it safely!

Pros

  • Best looking Bitcoin/Crypto wallet out of all of the available ones.
  • User friendly and easy to use.
  • Supports more than 100 cryptocurrencies.
  • Supports an in-app exchange.
  • Buy Bitcoin and other cryptocurrencies within the app using Moonpay.
  • Permissionless, Self-custodial wallet. Nobody can lock you out of your account.
  • Earn Passive income by staking some PoS cryptocurrencies within-app.

Cons

  • Hot Wallet: Private keys are stored on the device. Funds can be stolen or lost if the device gets hacked/compromised.
  • Backing up private keys and responsibility is required for safe fund storage.
  • May not have as much cryptocurrency support as all the rest of the wallets above.

Table of Contents