Last updated on:
Bitcoin wallets aren’t actual wallets at all, but instead, keys that allow you to access your bitcoin whenever and wherever you want.
Even physical bitcoin wallets only provide so much of a difference (which we’ll get into later), but your actual bitcoin is stored in blockchain. That being said, wouldn’t it be a shame if your credentials for a bitcoin exchange suddenly didn’t work, and you were locked out of your account?
It happens to people.
You need to be prepared. Whether it’s an Android app that’s paired to your phone, or a physical copy of your bitcoin wallet so that you can leave it to others in a will or keep it in a physical safety deposit box, it’s a smart move to make.
You want to secure your bitcoin, ensure it’s safe, and have the option to trade it at a moment’s notice if that’s what you really want to do. These top five bitcoin wallets are exactly what you need.
Best Bitcoin Wallet For Android – Reviews & Buying guide for 2020
Best Overall – Edge
Edge arose as the best bitcoin wallet for Android users after a couple of years of development. To kick things off, no app would be complete without an intuitive design.
Everything you see is easy to navigate, and comes in green, blue, and white design to keep things bright and easy to spot. It’s a breeze going through it, because the response time and lack of input lag makes this a nice lightweight app that won’t be a headache to use (looking at you, big bank apps).
They’ve maintained a great rating both on the Play Store and App Store because their updates come out after being tested to no end. It’s rare that any of their updates disrupt the way you access your cryptocurrency.
If those do arise, their small team is quick to handle the issue, even if it means an all-nighter at the office.
Have you ever downloaded a simple timer app or something like that, and it asks for a laundry list of permissions that don’t even pertain to the app in the first place?
I shouldn’t have to allow a calculator to access my microphone because I want to know how much of a tip to leave at dinner. Edge requests nothing more than being able to autofill contacts from your email and SMS catalog for transaction purposes.
They express that the information collected is just used for app autofill access, and isn’t sent to Edge (the company) or any third-party providers for any reason. Basically, nobody is selling your information, and you don’t have to supply more permissions than needed.
With Edge, you can trade your cryptocurrency with a friend, send it to them for a low rate, or even buy bitcoin, ethereum, litecoin, and a variety of other cryptocurrencies off the marketplace.
They’re adding new ones all the time, so if you’re using dogecoin, stellar, texos, ravencoin or smartcash, you have options to choose from. Edge has become one of the most inclusive wallets out there.
Their customer service is basically everything we could hope for. Sometimes it can take up to 24 hours to hear a response, but when you do, it’s filled with helpful information that usually ends in a resolution to whatever your issue was.
You can look on both their Play Store and App Store download pages to see the way they interact with the negative reviews just to see what I mean.
They handle issues like professionals, and even when there’s an issue with their EOS wallet or a similar feature, they’re quick to apologize and work on a solution.
No crypto wallet you find is going to be perfect, so with that in mind, I’d rather be with an app and a team that genuinely cares about your experience more than anything else.
- Play Store Rating: 3.7
- Number of Coins Supported: 20+
- Trading?: Yes
- iOS Version?: Yes
- Physical Version?: No
Runner up – Mycelium Wallet
Cryptocurrency didn’t really take off for a while, but when it did, Mycelium shifted gears and became one of the first bitcoin wallets on the market.
They came out in 2013 for both Android and iOS, and have been a staple ever since. While the updates for their iOS version take longer, they remain as the best Android crypto wallet for newcomers who just want to get started without all the frills.
Starting off, Mycelium has a very user-friendly interface that doesn’t clutter up the screen one bit.
Adding new payments to your wallet is simple with a QR code scanner, which you can get from bitcoin ATMs, or just by having someone send it to you as a payment through your wallet. It’s easy to send and receive BTC in little to no time.
When you use this to scan QR codes to accept payments, there’s a way to turn on your phone’s flashlight from inside of the app, so you can have the clearest shot at getting a good scan even at night. It’s the little things like that which really set Mycelium apart from the rest.
Crypto funds are instant, which is why they’re so popular, but sometimes you run into snags. Mycelium offers different rates depending on how fast you need the funding, so if it takes a while, you only eat up the smallest miners fees available.
If you don’t want to use this with Coinbase to buy and store your bitcoin or ethereum, you can use the local marketplace from within the Mycelium app to trade with others on a peer-to-peer network.
It’s all covered by Mycelium, so there’s no risk involved. It goes through just like a standard bitcoin purchase from your favorite marketplace.
There’s two-factor authentication here, so that if someone picks up your phone they can’t just access your app and drain your bitcoin from your wallet. Alternatively, you can also sign in with KeepKey or Trezor (a product of Satoshilabs, not to be confused with the bitcoin faucet).
This is a buying guide for Android users, and Mycelium is definitely more oriented for Android phone owners. There’s a huge disparity between reviews on the App Store and the Play Store, because iOS is notoriously harder to design and code.
Many of those reviews are related to customer service, and if you were around in 2015 or prior, they would be valid.
Mycelium has upped their game, and has dedicated customer service representatives that do a fantastic job of answering all your questions. For a sleek and easy-to-use bitcoin wallet, this is all you need.
- Play Store Rating: 4.3
- Number of Coins Supported: 1 (Only bitcoin)
- Trading?: Yes
- iOS Version?: Yes
- Physical Version?: No
Alternative – Atomic Wallet
Atomic Wallet hit the ground running and immediately tried to support as many cryptocurrencies as possible. They’re still adding to that list, but as of right now, it’s well over 300. That includes all your favorites, like bitcoin, ethereum, litecoin and more.
As one of the best BTC wallet Android apps, it comes with a lightweight build and an easy-to-read interface.
The UI is basically like butter: you just glide through everything with no screen tearing or input lag whatsoever, which when you’re dealing with finances, that’s pretty important.
But it’s not just about holding onto your bitcoin: Atomic Wallet is also an exchange platform. It’s nothing like Coinbase, but it’s still up there in terms of functionality. You’re not stuck with peer-to-peer trading like some wallets offer.
There’s nothing wrong with it, but it can take a while to make a sale, especially when prices are going down and you’re trying to sell fast.
If you are selling to another person, though, you want to be safe while doing it. There’s a feature here called an atomic swap, which is a cross-chain method of transferring funds that ensure safety and anonymity.
It even helps to reduce fees, but as of now, it only works on a handful of cryptocurrencies on the platform (bitcoin, of course, being one of them). It’s a nifty little feature that you can pull out of your back pocket.
With crypto, we’re always concerned about our cyber safety, and ensuring that nothing falls through the cracks. It has to go off without a hitch. Atomas Wallet has a strong encryption method and two-factor authentication for access to your funds.
It acts as nothing more than the conduit between you and your actual blockchain code, which is what any good crypto wallet does.
If you’re like me and you want to maintain an eye on your cryptocurrencies, especially with this 24/7/365 market, you want more than a single platform to monitor.
You can download a desktop version for Windows or MacOS, and even Ubuntu, Fedora, and Debian. They’ve basically extended support to everything beyond just your Android or iOS phone.
- Play Store Rating: 4.5
- Number of Coins Supported: 300+
- Trading?: Yes
- iOS Version?: Yes
- Physical Version?: No
Last but not least, BRD isn’t the best bitcoin wallet app Android has to offer, but it’s a good introductory app that allows you to track and store your cryptocurrency access seamlessly.
Because of how lightweight the entire app is, it’s rare that you run into bugs in the code or anything of that nature. It stays pretty consistent.
There are more than 200,000 ERC-20 coins that are supported here, including bitcoin, making BRD one of the most versatile crypto wallets out there. So why are they at the bottom of the list?
Being versatile isn’t the only measure of a good crypto wallet.
BRD lacks the tools that most hardcore investors would deem useful, making them a little bit outdated when compared to Edge and Mycelium. They put a lot of focus on allowing other cryptocurrencies in, which is great, but they could do well with leveling their efforts to make it a little bit more balanced.
You can buy bitcoin directly from the platform, as well as etherium, and bitcoin cash. They even offer their own cryptocurrency, which is simply BRD, and it generally sells for a very very low amount (because it’s app/service-specific).
You can get into crypto trading with them, and trade your way up to bitcoin. Their BRD coin is designed to be low-cost, high-volume, so when the market changes, you can sell them for $50.00 to $1,000.00 profit here and there if you’re a low to medium-roller.
To give credit where credit is due, this app looks and feels sleek and beautiful. You glide through the options like it’s nothing, with little to no lag or staggering during use. The BRD team knows what they’re doing when it comes to intuitive design.
They’re a completely open-source code, while still being safe and encrypting your data so that you’re secured. It just means that if you wanted to design your own app just like it one day, you could.
Last but not least, their customer service team is always helpful and cheery. While they’re a small operation, they know what issues come up, and how to fix them swiftly.
Much like my comments about the Edge team at the beginning of our guide, BRD hits home with the same feeling. Overall, it’s lightweight and easy to use, and great for beginners.
- Play Store Rating: 4.1
- Number of Coins Supported: Over 200,000 (All ERC-20)
- Trading?: Yes
- iOS Version?: Yes
- Physical Version?: No
best Physical Wallet With Android Support – Ledger Nano X
It’s physically a lightweight bitcoin wallet, but is it the best mobile bitcoin wallet out there?
This is the only physical bitcoin wallet on our list, and it comes with its own perks. You don’t have to have any authentication outside of what’s inside of your Ledger Nano X.
There’s an embedded chip that takes care of everything: authentication access to your blockchain, amounts, dates, and every bit of info that you need.
So what’s the point of having a physical bitcoin wallet in the first place?
It literally doesn’t get more secure than this. Your blockchain is stored, well, on the blockchain – it never leaves the internet, and your personal access is never stored on the internet. Really.
Even when you sign in with Edge, an app-exclusive solution for a bitcoin wallet, they’re not actually holding onto your bitcoin for you. Instead, they’re the conduit that allows you to access the section of blockchain that is registered to you.
The Ledger Nano X takes it up a notch, because the only way you can access your bitcoin is through this. The physical chip acts as that key to the proverbial vault in the blockchain where John Doe’s cryptocurrency is stored.
The benefit is that if you have it, you’re golden, but if it’s lost or destroyed, so is your access to your bitcoin. The Ledger Nano X is something you safeguard, keep in a fireproof safe, or a safety deposit box at the bank, and so on.
While your physical Nano X is the key, there is a service called Ledger Live, where you can actually manipulate the funds once your chip unlocks the vault.
Ledger Live is just a wallet, but when you purchase bitcoin from a place like Binance, you can then send it to your Nano X through Ledger Live, where it will be securely sent to your blockchain.
The Ledger Nano X can either be equipped via bluetooth to your smartphone or desktop PC/laptop, or it can be connected via a cable if you’re worried about potential nearby hackers getting a hold of it. Either way, it works.
The Ledger Live services goes under a lot of scrutiny. While you have access to over 400 cryptocurrencies that you can store on here, Ledger Live can make it a headache to actually initialize everything on your chip. The app is a bit buggy and slow, but at the end of the day, it works.
- Play Store Rating: 2.7
- Number of Coins Supported: 400+
- Trading?: No, wallet only
- iOS Version?: Yes
- Physical Version?: Yes
Android Wallet Buying Guide & FAQ
How Does Bitcoin Wallet Work?
A bitcoin wallet works just like the wallet you’re using for cards and cash right now, only digitally.
The best bitcoin app Android has to offer simply allows you to deposit bitcoin through a transfer method into your wallet. Most will also allow you to purchase bitcoin straight through the wallet, such as Cash App.
Bitcoin is blockchain: a series of code that has to be peer-checked to prevent double-spending. A bitcoin wallet essentially holds onto a key that accesses your blockchain.
It’s not actually stored in your wallet at all, but it proves as certification that you have access to the blockchain that is assigned to that wallet ID. If you have a physical bitcoin wallet, it doesn’t actually store your bitcoin offline. It just offers a harder way to access that bitcoin.
Once you activate your wallet and prove that you are who you say you are, you basically access your bitcoin/blockchain. When you’re not logged in or accessing your “key”, you are unable to access that bitcoin. Moral of the story is don’t lose your key.
How do I Get a Bitcoin Wallet?
You can get an Android bitcoin app, or an online wallet through a bitcoin exchange/marketplace. Bitcoin wallets are used to store currency, meaning you will be subjected to the KYC act.
You will be required to provide your social security number, date of birth, and any other methods deemed necessary to verify your identity.
As long as you’re comfortable providing that information to a financial establishment, it’s relatively simple to sign up for a bitcoin wallet. Download the app of your choice or find the signup page for the online marketplace/wallet of your choosing.
Choosing your wallet is easy. Signing up with your information may take five to ten minutes of inputting your information, depending on what platform you’re using.
At that point, verification is usually fairly instant, but it may take two to three days to verify your identity if the automated system runs into a snag.
Are Bitcoin Wallets Free?
Yes and no. Unlike a traditional bank account, you’re not going to run into any fees for maintenance of your account, and you do not have to hold onto a minimum balance to avoid getting charged on a monthly basis. That would be ridiculous.
Bitcoin wallets are free to maintain your bitcoin in, but there are associated transaction fees for buying and selling bitcoin. Otherwise, these apps wouldn’t make any money, and then they wouldn’t exist, unless they were a branch-off of a service that sold other things.
Similar to how some financial institutions now offer free stock trading, but make their money in credit cards and bank account fees.
Wallets require transaction fees. Even if you get a wallet through a bitcoin marketplace, one that’s free, you’re going to run fees when buying and selling bitcoin, AKA transaction fees. If you find a bitcoin wallet that’s offering zero transaction fees, it’s a service that isn’t making any money – it’s likely a scam.
Are Bitcoin Wallets Safe?
Bitcoin wallets are safe. Those mentioned on this list, as well as others that have a reputation in the community of bitcoin investors.
When you trade bitcoin, you’re making an investment that will eventually show up on your taxes. It’s a serious deal, so for most bitcoin wallets, you will need to provide your social security number.
This is in accordance with the KYC act, or Know Your Customer. It states that any financial institution doing business must be able to verify their customer’s identity, to avoid risks involved with trading, and maintaining integrity on the platform.
That being said, there is little public information on what antivirus and anti-hacking attempts are made by bitcoin wallets and marketplaces.
When a company utilizes blockchain to make a bitcoin wallet, it’s safe to assume that they know a thing or two about encryption and verifying identities. The KYC act actually does more to protect your identity than it does to harm it.
The only thing that would potentially affect your personal information from a bitcoin wallet provider is a massive hacking attempt, much like we’ve seen on the news for Target and Wells Fargo in recent years.
Bitcoin marketplaces and wallet providers know that since everything here is digital, it’s susceptible to cyber attacks.
That’s why Satoshi designed the peer-to-peer review system of blockchain miners, who receive Satoshis or BTC percentages for performing tasks, such as verifying blockchain code to avoid double-spending.
In short, it means that it’s nearly impossible to actually perform a massive hack attempt on blockchain.
In many instances, to avoid storing your personal information, marketplaces and wallets do not store your username and password on their own servers.
Instead, your device that’s used to access it sends a one-time signal to the wallet servers, which essentially acts as a single-use key to access your funds.
Because your blockchain is unique, it’s accessed by you, and almost no wallet/marketplace providers store your personal information anywhere that it can be accessed. Hopefully, this statement ages well as time goes on and hacking attempts become more sophisticated.
How do I Put Money in Bitcoin Wallet?
It all starts with finding the right wallet to put your funds into. Sign up for your wallet of choice, input your information, and verify your identity.
Once you verify your identity, you’ll be in your wallet hub. This is where you can usually find a button that says “Buy Bitcoin” or something to that effect. If this is not here, that’s okay, you can send bitcoin from a marketplace to your bitcoin wallet later.
If that button is there, tap on it, and select how much bitcoin you want to buy.
At this point, it will bring you through to a payment screen where you can input your bank account information or debit card information, where you will essentially purchase bitcoin in a similar fashion to how you purchase everything else online.
Some wallets are simple, and there’s nothing wrong with that. They’re simply used to hold onto your bitcoin. You can still access an ID that you can use from a marketplace, such as Coinbase or Binance, and purchase your coins there.
You can put the bitcoin into your wallet from there. This means you might not have direct USD access on your bitcoin wallet (even though most do have this feature), but it doesn’t mean that you can’t fund it with bitcoin.
The Future-Proof Wallet
Whether it’s a physical entity or an Android app that allows you to control your cryptocurrency, everyone that wants to get into crypto needs a bitcoin wallet.
When it comes to safety, ease of transferring, and eventually cutting down fees because of how you trade, you’re going to be glad that you took the time to inspect these five fantastic bitcoin wallets.