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Bitcoin experts say that if you have plans to buy large amounts of bitcoin, store them in a cold wallet. A paper wallet or a hardware wallet is a great example of an offline place to store bitcoins. But if you are looking for ease of accessing and trading your coins on a regular basis, be set to store some in an online wallet. iPhone users enjoy great variety when choosing the right mobile wallet. Read this guide to learn the best 5 bitcoin wallet apps for your iPhone.
#1: Breadwallet on Apple Store
Breadwallet features an extremely easy to use design, fairly advanced safety features and awesome reputation on bitcoin forums. For newbies, Breadwallet is one of the most recommended mobile apps. This is why:
- No logins or passwords needed to access your coins.
- Offers a safety pin that you should write down for your own safety.
- Connects directly to the bitcoin network, giving you total control of your coins.
- Advanced security features – once you write down your safety pin on a piece of paper, you don’t have to get scared when you lose your iPhone.
- Open source code-Developers with knowledge of the technology used by Breadwallet can help improve the security features.
- Simplified payment system to complete transactions fast and efficiently.
The Breadwallet is a standalone IOS wallet, meaning that it is not hosted by a server that could get hacked. Read this in-depth review about Breadwallet on reddit and also get to view some of the concerns users have about the wallet.
Airbitz is a top rated iOS wallet for beginners and experts alike. Designed with a user-friendly platform, unrivaled security features and an efficient way to manage your coins, this is a great wallet to have. Apart from bitcoins, Airbitz also stores Bitcoin Cash and accepts a load of different fiat exchange rates.
- Highly advanced security features-the mobile app supports two-factor authentication, an added security feature that provides some of the details needed to access your coins to a third party.
- Designed for ultimate user experience – in addition to a quick registration process, using the app is pretty easy.
- Fast and efficient way to complete transactions thanks to the Bluetooth Low Energy system used.
- Features an API that helps you see all the businesses that accept bitcoin in your area.
- Freely available on apple store. It also offers a dynamic payment system so that you don’t have fixed charges for all transactions.
- Backups your wallet for better security.
#3: Copay Wallet
Designed by BitPay as a way of securing BitPay customers ‘coins, this wallet has proven to be a leader in the industry. Its security features include a hierarchical deterministic system that generates new private keys for every transaction. This offers better security than a simple password. In addition, Copay offers several other features:
- Unbeatable security-apart from the hierarchical deterministic system mentioned above, Copay supports the bitcoin payment protocol that ensures you send coins to the exact merchant you intended to.
- Standalone wallet-your private keys are stored on the standalone wallet. This means that Copay is not supported by a weak server or any other network.
- Multiple coins supported-apart from bitcoin, you could store a variety of other altcoins on Copay.
- User-friendly-Copay’s interface is not only beautiful; it’s also friendly for all users.
- Highly reputable-the fact that Copay is open source makes it easier to trust as developers can monitor its code system and help improve the security features.
#4: Mycelium iOS Wallet
Mycelium is a mobile app designed to reduce the vulnerabilities associated with hot wallets. By making its security features more uptight, Mycelium aims to keep your bitcoin wealth safe but easily accessible. Here are the top features that define this app:
- Open source-like a few of the apps outlined above, mycelium’s code is available for monitoring and adjustments.
- Offers multiple account types with the ability to offer advanced security. From an account based on the hierarchical Deterministic technology to a hardware wallet, you can choose the level of security best suited for your needs.
- You can purchase additional bitcoins without leaving the wallet. With the Cashila and Glidera API features, mycelium users can buy bitcoins or accept bitcoins from other wallets.
- Top rated and respected by bitcoin users.
#5: Jaxx iOS wallet
Jaxx features a minimalistic, beautiful design that is easy to use for all bitcoin users. There are a few tabs to click on the wallet but that does not make its security features weak. In fact, Jaxx gives you the option of backing your coins on a paper wallet or other hardware devices. The wallet also supports an umpteenth of altcoins, including ethereum, dash and litecoin.
- Ability to set transactions fees that suit your demands.
- Supports all major cryptocurrencies
- Easy to import your coins from a paper wallet.
- Support security pin and wallet backup
- Integrated with ShapeShift API feature to allow cryptocurrency inter-exchanges without leaving the wallet. With the ShapeShift feature, you can change Litecoins for ether coins, or bitcoins against Bitcoin Cash.
Should you use Mobile Wallets?
With an iPhone bitcoin wallet, you can secure your hardware wallet at home and trade bitcoins with your smartphone. You don’t have to carry your laptop, just your Internet enabled mobile device. Due to this convenience, mobile wallets are an important aspect of bitcoin users. Here is a general overview of why people use iPhone bitcoin wallets.
- Acts as a credit card- if you would like to purchase goods with bitcoins, an iPhone bitcoin wallet becomes your credit card. And with the ShapeShift API feature in some wallets, you can purchase goods with any of the top cryptocurrencies.
- Easier to use- unlike a hardware wallet such as a paper wallet, the iPhone wallets connects to payment protocols fast and easy. This makes mobile wallets the better choice for regular bitcoin traders.
- Fairly safe- modern mobile wallets are designed with highly advanced security features. Unless you are unlucky to lose the phone before you backup your wallet, there are few instances when you could lose coins on a safe wallet.
Reasons against Mobile Wallets
If you have heard people persuade you against iPhone bitcoin wallets, here are some of the genuine concerns they may have:
- Safety concerns-since Apple does not check every app on its store, you could easily install a bitcoin wallet with weak security features.
- With some wallets, the loss of an iPhone means losing all bitcoins.
Since safety and the thought of losing bitcoins are why most experts advise against mobile wallets, consider purchasing a hardware wallet to store large amounts of cryptocurrencies. Read about it here and learn when you should use a hard wallet. That’s all for now but visit our website often for more intriguing content.