Just like with cash, you would want to have multiple different storage for your Bitcoins. One safe and permanent place to hold large sums of cash, and one more convenient location for smaller amounts, such as your wallet. This same logic applies in Bitcoin. You would want a safer location for large sums (ex. an offline wallet) and a convenient location so you can easily use them.
However, with a plethora of Bitcoin wallets out there, it can be hard to choose a safe, private, and feature rich wallet that you would want. This guide will take you through the best Bitcoin wallets for iOS and Android so you can keep hodling on.
The criteria for making it onto the list were:
- Supports Segwit
- Has had a good history of updating their wallet
- Is open source
- Is feature rich
- Is in good standing with the Bitcoin community
- Did not involve themselves in ICOs
While relatively new to the game, Blue Wallet easily takes the number one spot with its rich number of features and modern UI. Available both on iOS and Android, they have made Segwit support their first priority since their launch and are delivering many useful Bitcoin features such as Lightning Wallet, Replace-By-Fee, watch only wallets, support for multiple wallet standards (BIP 39, BIP 44, BIP 49) and plausible deniability.
Currently, their Lightning Wallet uses an API to gain access to the Lightning Network, meaning that you are using their node to gain access to the Lightning Network. You are trading off decentralization and security but this is by far one of the easiest and simplest ways to use the Lightning Network. 3 taps is all you need to do to set up a Lightning Wallet.
Since launching with Segwit, they promised to work on HD wallets and Lightning Wallets, and both promises have been delivered. With features such as multisignature and connecting to your own Bitcoin Core node promised, Blue wallet may become even better in the future.
Samourai wallet has been around since 2015 and is one of the most popular Bitcoin wallets today. They are privacy focused with such features as watch only wallet, offline mode, stonewall, and paynyms. All these features make it very difficult for someone to track your Bitcoin transactions.
They also have a new hardware full node launching that will allow you to connect it to your Samourai wallet which will help in running your Bitcoin wallet as trustless as possible, improving privacy.
Also, Samourai is also one of the most simple and intuitive Bitcoin wallets to use with its simplistic UI. While Samourai Wallet isn’t available on iOS as of now, if you have an Android phone and want a wallet that just works, Samourai is probably the way to go.
Forked off from Breadwallet, HODL wallet offers SPV wallets without the ICO and altcoin distractions that Breadwallet has. Instead of relying on a full node for your blocks from the wallets, you can instead choose to have an SPV node. An SPV node only downloads the block headers and does not verify the contents but it is costly to make false block headers and is generally good enough for smaller amounts of Bitcoin. With Segwit support now added, HODL wallet is in competition for one of the best Bitcoin wallets you can have on iOS and is also available on Android.
Blockstream Green (aka Greenaddress)
Available on both Android and iOS, Greenaddress makes it onto the list despite its buggy UI, since it offers a feature that no other Bitcoin wallets have: multisignature 2 factor authentication. When you make a wallet on the app, you have the option of creating a 2-of-2 or 2-of-3 multisignature wallet. With the 2-of-2 multisignature wallet Greenaddress and the user each keep one, and with 2-of-3 you keep two while Greenaddress keeps 1. When you want to spend, Greenaddress gives you prompts you a verification by email, SMS, or Google Authenticator. This way, even if your key gets exposed, the attacker will not be able to take the funds if they do not also have access to your 2FA of your choice.
This feature makes Greenaddress the safest mobile Bitcoin wallet out there. They have announced that their new wallet with a brand new UI, Green, will be coming out soon. They might deserve a higher spot in the future, but for now they remain in 5th place.