The growth of Bitcoin has many slowly introducing themselves within the crypto market. While Bitcoin does have potential in reaching new heights in the near future, how users actually store their Bitcoins in the meantime is important to consider. It is standard for one to keep their coins on an exchange, but due to continuous, successful hacks, the best way to securely store them is through wallets.
Top 5 Bitcoin iOS Wallets & iPhone App For Storage
Here is a breakdown of the top five Bitcoin iOS Wallets one should consider. This will also allow one to determine what features make a safe and effective wallet.
Breadwallet appears to focus on simplicity, security and increased privacy. Based on the claims made, no opportunity whatsoever is given to hackers and the use of iOS is said to prevent any types of malware and viruses from occurring. It also has a user interface, which includes open source codes to maximize trust. Another facet that makes Breadwallet worth considering is the fact that they do not store private keys on their own servers, which shows that all control is in the hands of the user.
MyCelium Wallet was created with the intentions of allowing users to safely store their BTCs, manage multiple accounts in one and make backups and trading an efficient and easy task. Their approach on using single address accounts can increase security by eliminating private keys from the device and only permitting re-imports when it is needed the most.
Another measure taken to tighten up security is via their BIT ID, which is an open protocol that allows secure authentication compared to the classical password type. Lastly, its HD feature, also referred to as the Hierarchical Deterministic is said to use a master seed to get all future bitcoin addresses, which is believed to provide a safe backup.
Like MyCelium Wallet, the Copay Wallet uses a HD to secure Bitcoins and initiate secure backups. This wallet, however, promotes multiple personal and shared wallets. Additional security measures have been taken through its BWS node, which also promotes privacy. Ultimately, many favor this wallet because of its transparency, privacy and the control users have. At the same time, many argue it be ineffective due to its centralized approach of verification.
Jaxx is a Blockchain Interface and Wallet that values users’ control, security and ease-of-use. Some of the measures taken include secured private keys that are never sent to servers, a user-friendly design to maximize ease of use, the ability to allow users to download their keys into another service and eliminating any type of friction that can delay one’s experiences. It also uses a 12-word master seed to manage private keys.
Of all the wallets that appeared in this review, Airbitz is the most versatile as it is the only one to have taken several steps in ensuring that one’s ease of use is met as well as ensuring that the security and privacy of users have not been breached in any way possible. Some of features like the ability to pay through Bluetooth (BLE) with QR Codes, HD for secured backups, two-tap quick UI for transferring funds between wallets for easy-of-use and the ability to search transactions for optimal transparency, shows that Airbitz was created after considering every scenario possible.
Top 5 Bitcoin iOS Wallets Final Tips
Clearly, all five Bitcoin wallets have placed equal importance on privacy, security, ease-of-use and making sure that each user has all of the control over his or her assets. It is important to keep in mind that once one loses his or her mobile, then the chances of losing control over the wallet is highly likely, allowing a third-party to gain access.
Furthermore, users should always save their master seeds/ private keys, because without them, there really is no way getting in. Similarly, users should avoid sharing such passcodes with others to ensure that it does not result in theft. While iOS wallets might seem great, it is ideal to split storage between hardware and iOS wallets to ensure that not all assets are lost, given any issue that may arise.