Welcome to our Fall 2015 edition of the top rated and reviewed bitcoin wallets, where we highlight the best ranked bitcoin wallets on the market according to community reviews.
For those unfamiliar with our website, we have the largest database of bitcoin wallets where we monitor every wallet and provide tools to the bitcoin community to rate and review each one.
Through our ranking system, bitcoin wallets can rank high or low, and for the Fall 2015 report we are taking the top three highest ranking wallets to feature. Since our rankings are in real-time, there is a opportunity that after the publishing of this report, the wallet rankings may change based on community feedback and wallet rankings may fluctuate, which is to be expected, and overtime we expect the rankings to normalize. We encourage more community members to participate by rating and commenting on their favorite bitcoin wallets.
On to the top three ranked bitcoin wallets for Fall 2015
Ranked #1: Electrum
The best ranked bitcoin wallet so far this year has turned out to be Electrum. At the time of publishing, the Electrum wallet listing is ranked 3.35 out of 5, ranking first atop of all other bitcoin wallets. Electrum is bitcoin client software, not a web wallet, where you download it and run the software locally.
Electrum gives full access to the user, where the user controls the bitcoin private key and backups of the wallet can be made and recovered from a secret phrase. Another reason for Electrum’s popularity is that their community is growing, and their servers are decentralized, which makes their wallet network spread out and redundant. Electrum is a Simplified Payment Verification (SPV) wallet, so it’s lightweight and faster than some other wallets. Electrum is a Hierarchical Deterministic (HD) wallet and supports multisig accounts. Electrum also supports third-party plugins such as hardware wallets like Trezor and Ledger.
Ranked #2: Airbitz
The second best ranked bitcoin wallet is Airbitz. At the time of publishing this report, the Airbitz wallet listing is ranked 3.21 out of 5, ranking just under Electrum. Although, the two wallets couldn’t be further apart in the type of wallet and service they provide. Airbitz is a mobile wallet app, available on Android and iOS devices.
Airbitz is a Hierarchical Deterministic (HD) wallet which gives users full control over their wallet with the ability to backup and recover the wallet from a private seed. Wallets are automatically encrypted and users have full control over their private keys. The mobile wallets have PIN protection and two-factor authorization (2FA) support. The wallet also has a built-in business directory with a simple user interface for easy navigation. Airbitz is a “zero-knowledge” platform, meaning they don’t hold customer funds, don’t track customer funds, and don’t have access to customer data. The Airbitz wallet is also open source software.
In July 2015, Airbitz received $450,000 in venture capital from Block26 in a $1,250,000 ongoing seed round that was expected to close this past summer.
Ranked #3: Coinomi
The third ranked bitcoin wallet is Coinomi. At the time of publishing this report, the Coinomi wallet listing is ranked 3.19 out of 5, ranking third on the list of top rated bitcoin wallets. The Coinomi wallet may also be the most diverse wallet in terms options, offering support to other cryptocurrencies in a single wallet which has drawn a higher range of support from the digital currency community.
Coinomi is a “universal” mobile wallet made specifically for Android devices, although on the road-map there appears to be a place for iOS support in the future. The wallet is Hierarchical Deterministic (HD), which allows you to backup your wallet and recover it from the private seed. Coinomi claims to hide user IP addresses when pushing transactions to the blockchain, saying this increases user privacy. The wallet is integrated with Shapeshift which allows users to purchase and exchange altcoins inside of the app. Coinomi has multi-language support and is open source.
The Bitcoin Wallet Landscape
In 2014, it was said that it was going to be “the year of multsig,” where wallets that didn’t support multisig would slowly begin to lose out to wallets that did. Clearly there is a theme in the best ranked wallets, which all support multisig technology. In addition, all three wallets are all open source, which is important specifically in bitcoin because the code can be reviewed by peers to ensure that it’s validated with what is being served to consumers by the wallet providers; which consumers clearly find to be valuable.
In the most recent CoinDesk State of Bitcoin report, the bitcoin wallet venture capital raised in just Q2-2015 was $1.5 million, and in 2015 there has been $5.8 million in wallet venture capital so far, and the total projected venture capital investment in all of bitcoin for 2015 is just shy of $1 billion.
The bitcoin wallet ecosystem has grown tremendously in the past two years, from just a handful of wallets to a plentiful amount of desktop clients, web wallets, and mobile wallets. Although the three bitcoin wallets featured above are great wallets according to community rankings, there are many other great bitcoin wallets on the market.
What’s important to you may not be important to the next person when selecting a bitcoin wallet provider. Make sure that you do your homework first to ensure that you know what to look for before choosing a wallet that is best for you.