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If you want to start investing in Bitcoin (BTC) you will need a wallet, and right now these are the best Bitcoin wallets for iPhone
A Bitcoin wallet is a place where you can view and manage all your Bitcoins and other cryptocurrencies. If you want to start buying Bitcoin, you will need a Bitcoin wallet – this is where they are all stored.
And now that Bitcoin (BTC) is fairy mainstream, you have a myriad of options when it comes to Bitcoin wallets for iPhone. As always, while not all Bitcoin wallets are created equal, make sure you use ONLY a legitimate one.
I have been in Bitcoin since about 2010 and during that time I have used A LOT of Bitcoin wallets, both desktop and app based. Over the past few years, Bitcoin wallet apps have gotten really good. So much so, in fact, that now I only use the Bitcoin wallet apps on my iPhone to manage all my cryptocurrencies.
The best Bitcoin wallet apps for iPhone
# 1) Paxful
Paxful is a simpler Bitcoin wallet than CryptoHopper and Coinbase, and this is one of its main advantages. It connects with the Paxful crypto market, a great platform for buying Bitcoin and other cryptocurrencies, and allows you to easily manage and store, as well as trade Bitcoins from your phone.
Paxful is a peer-to-peer (P2P) bitcoin exchange. It’s actually one of the oldest in operation today, so you’re in good hands if you decide to go with Paxful. You will do most of your stuff via the Paxful exchange and then once you are done with the essentials you can manage all your cryptocurrencies via the Paxful iPhone app.
Paxful allows you to buy and sell bitcoins with over 300 payment methods, including Amazon gift cards, iTunes gift cards or Steam gift cards, debit or credit cards, cash deposits, PayPal, Stripe and Skrill.
Paxful is a killer platform and the iPhone app is brilliant. It’s simple to use, easy to set up, and Paxful Exchange is one of the safest places to buy and sell bitcoin and other cryptocurrencies.
>> GET PAXFUL HERE
# 2) Coinbase
If you are new to cryptocurrencies and want to start with something simple, Coinbase would be our # 1 choice for now. Coinbase is the largest cryptocurrency exchange in the world and has over 25 million users on its platform.
Within the Coinbase iPhone app, you can manage your Bitcoin, buy and sell Bitcoin, and even invest in other cryptocurrencies such as Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Basic Attention Token (BAT), 0x, (ZRX) and USD Coin (USDC).
The Coinbase iPhone app gives you all the tools you need to start your Bitcoin journey, from helpful guides and features to things like market-leading security and account protection. It’s also incredibly simple to set up and start using. Even if you are completely new to the concept of Bitcoin.
>> GET COINBASE HERE
# 3) CryptoHopper
CryptoHopper is a fairly unique platform as it allows you to automatically copy expert Bitcoin traders. With CryptoHopper installed on your phone, you can practice buying and trading Bitcoins (without actually doing it), which is a great feature for beginners.
You won’t lose money doing these “practice trades”, but you will see how your trades work, and this is the key to building your understanding of how Bitcoin trading works.
The key thing about CryptoHopper is that it will allow you to copy trades made by experienced Bitcoin traders. You can set it to happen automatically, so your Bitcoin is sold when another big player sells theirs. It is similar to some investment apps that allow you to copy and track the trades of professional investors.
CryptoHopper connects to all major crypto markets, so you buy all types of cryptocurrencies: from Bitcoin to Ethereum Classic (ETC), Litecoin (LTC) and Basic Attention Token (BAT).
>> GET CRYPTOHOPPER HERE
How do i get a Bitcoin wallet?
Getting a bitcoin wallet is simple, just go to the App Store on your iPhone or iPad (or even your iPod) and search for what you want. Then download and install it on your iPhone. And that’s it – literally.
However, before downloading a bitcoin wallet to your iPhone, we recommend that you sign up with the company’s exchange first. For example, let’s say you go with Coinbase, you will want to create an account with Coinbase first.
Once this is done, go to the App Store, download the Coinbase app and log in using your credentials from the Coinbase site you just registered with. Simple, right?
It works the same with ALL bitcoin wallet apps listed above.
How do Bitcoin wallets work?
Bitcoin and blockchain, the technology that powers it, are actually incredibly complex digital entities designed with protections in place to ensure that bitcoin flows correctly and without manipulation.
Blockchain technology In itself it’s a HUGE topic, but for the sake of brevity, we’ll keep things nice and short: a bitcoin wallet essentially allows you to communicate, in a simple and intuitive way, with the blockchain.
With a bitcoin wallet, you can store and manage all your bitcoins in adherence to the bitcoin protocol. Your wallet will have a unique ID that is applied to your bitcoin that exists on the blockchain. This unique ID assigns bitcoin to your account and ensures that you and only you control that bitcoin.
This does buying and selling bitcoins a lot easier. All the heavy lifting is handled by your wallet app and its built-in technology that allows you to seamlessly interact with the Bitcoin Blockchain, all from your phone.
Each wallet will have a public and a private key, you can use your public key to send and receive funds from people and companies. But you should keep your private key 100% secret and never reveal it to anyone – the private key is what makes your account yours, it confirms ownership.
All your bitcoins will be associated with your private key, so write them down, keep them and never share them with anyone.
Hot wallets and cold wallets: what’s the difference?
Two of the most popular types of bitcoin wallets are hot wallets and cold wallets. The difference between a hot bitcoin wallet and a cold bitcoin wallet is quite simple: a hot bitcoin wallet is connected to the web, while a cold bitcoin wallet is not.
If you have millions of dollars in bitcoins, we recommend that you keep most of your bitcoin in a cold wallet. Because? Because cold wallets are not connected to the internet and are therefore safer from attacks and hackers.
For most users, however, it’s best to use a warm wallet. With a hot wallet, you can buy, sell and trade bitcoins from your phone. And all of this is enabled via an internet connection.
And since your iPhone is software-level encrypted as standard, your bitcoin wallet has layers of protection that will ensure your account is secure. I mean, these bitcoin wallet apps still have excellent security. Add Apple’s built-in iOS security measures and you’ll be 100% sorted from a security standpoint.
The best Bitcoin wallet app for iPhone – our # 1 pick for now
As noted in the introduction to this post, I have been buying and selling bitcoin since 2010. During that time I have been using LOADs of several bitcoin wallets. But since 2015 or so, I’ve mostly been using Coinbase and Paxful.
These two platforms, in my opinion, are the best options for beginners looking to get into Bitcoin. Paxful is the simplest; it’s the oldest bitcoin P2P platform and it’s really simple to use.
If you want simplicity and ease of use, go with Paxful – it is perfect for basic operations and bitcoin management.
If you want something that is great for beginners but also packs a lot of additional features, go with Coinbase. Coinbase is great because, as you get better at buying and trading bitcoin and other cryptocurrencies, you can start accessing different types of exchanges and cryptocurrencies.
I like them both, but I think Paxful is the best option for beginners. It’s simple to set up and you can start buying bitcoin right away, so if all you want to do is secure some bitcoin, Paxful is the best way to do it right now.
