Do you have money in the form of some bitcoin? Are you sure that your bitcoins are safe from hackers?
Where are you storing your purchased bitcoins?
If your answer is – “On the same site from which I have bought them” or “In some bitcoin exchange,” I tell you that you are settling with the security of your bitcoins.
When you place bitcoins in online exchange or websites, from where you bought them. (Such as Coinbase, Coinsecure, BTCC etc.), you are not the real owner of bitcoins. If these sites get hacked or shut down your operation, you will lose your bitcoins.
you will say:
“It’s not so often”
Yes! you are right.
But yes, however, such things have happened.
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If you do not want to lose your bitcoins, by falsifying such a scandal, you would like to keep your bitcoins in such wallets, which you fully own.
There are many types of bitcoins wallet:
- Hardware wallets such as Ledger Wallets (I use these kinds of wallets)
- Desktop-based wallets such as Bitcoin Core
- Mobile-based wallets (for Android and iOS)
- Offline wallets
In the coming days, I will also tell you about different types of cryptocurrency wallets, but for today, I’m going to share bitcoin wallets for some of the best and most trusted Android OS with you.
Two things, all the wallets that have been listed, are the same, they are:
You have a seed key and no one can spend these bitcoins without a PIN.
When you are setting up your wallet for the first time, it will display a 12-word seed, you should note it down on a piece of paper and keep it steady in a safe place.
- If you do not have your private key, you will lose your bitcoins.
Services like Coinbase and CoinMama own your private key. If you want to store your bitcoins in the long term, you should choose a cold storage method. (I will discuss cold storage in any other article)
If you ever lose your phone in the future, you can always recover your bitcoins by using the seed word.
So without delay, let’s learn about Top Bitcoin Wallets for Android OS.
Best Android Bitcoin Wallets: 2018
We will continue to expand this list, as new and better wallets will come in the market. This is a preliminary edition of 2018.
It will be your responsibility that your Android device is safe from any kind of malware and viruses. Make sure that you have not installed any pirated apps or installed apps such as those whose developers are untrusted.
There are also many scam wallets on the Google Play Store and Apple iOS store. Do not install any wallet obtained from the information without any trusted source.
I have used all the wallets given below for some time, so you can trust the wallets given below.
Before mycelium, I kept my bitcoins stored in bitcoins exchanges. I always thought that I would make a paper wallet for cold storage but it took me a long time and I thought of not doing it for the time being.
Reddit once came to know about Mycelium, I started using it and used it for 6 months. This is one of the most popular bitcoin wallets created for Android, which provides you with your seed key. It also works with hardware wallets.
When you install it for the first time. You also get the option to restore your wallet from a seed key or you can also create a new wallet. Select the option of “Create a New Wallet” and note down the 12 key of the seed key, make a piece of any paper. Keep this handle in a safe place.
Always remember: if you lost these 12 words, then you lost all your bitcoins.
Mycelium also gives you the option to add a PIN code so that you can secure your bitcoin wallet even more if you give physical access to anything else to your device. It also supports an address book, so that you can store the address for some quick-to-be-used transactions.
Bitcoins have a send and receive posture and it is also one of the Best Android Wallets made for android. If you are using a hardware wallet like Ledger, Keep Key or Trezor, Mycelium also supports it.
If you are looking for an Android wallet that supports multiple cryptocurrencies, Jaxx is a perfect choice in this case. While writing this list, Jaxx supports all the following currencies:
- DAO- The DAO
- ETC – Etheremic Classic
When I explore new apps and try them on my own Android smartphone, I will update this list. For now, if you know about some other wallets, you can share information with us through comments.
Let we also tell you through comments that what methods are you using to store your bitcoins and according to you, what method is best for store bitcoins in the long term?
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