The easy-to-use and decentralized payment system of Bitcoins have already found numerous takers across the globe who are readily jumping to the cryptocurrency bandwagon powered by dynamic wallet applications in their smartphone. This is aiding them in carrying along their Bitcoins while constantly on the move. But one should be aware that various scam wallets are coming up which might take your valuable and precious bitcoins forever. In order to choose the best bitcoin wallets for your android mobile devices to safely store your bitcoins, I have prepared a list of top fives best bitcoin wallets for android mobiles
Following is a list of best bitcoin wallets for android mobiles :
Electrum wallet was one of the flagbearers of the exclusive Bitcoin wallets movement which was launched a few years back. This portable ‘thin client’ doesn’t fail to surprise with its Android application which is generated using a seed comprising of 12 random words. This seed can be used for wallet restoration along with the Bitcoin holdings if anything untowardly happens to your Android device. You can also export the Bitcoin holding to another wallet as and when required since the private key does not remain locked to the Electrum.
You will be asked to create a 6-digit PIN during setup which will be used for payment confirmation. A ‘watching only’ version can also be created for monitoring the Bitcoin transactions on your smartphone if you are already using the desktop Electrum version. The latest Electrum Bitcoin mobile wallet variant comes loaded with an exclusive QR scanner which aids in fostering payments by easily scanning the wallet address QR code. Once you tap on the receive section, a QR code will be displayed which others can scan scan to remit you bitcoins. However, this feature is compatible only with the ZXing QR Scanner and might lead to serious issues if scanned using another application.
For more details about Electrum Bitcoin wallet, visit the official website.
Since its launch in 2015, the Coinomi Wallet has come a long way in gaining solid reputation for storing name-it-and-you-get-it cryptos spread across 214 tokens and 86 cryptcurrencies ranging from the numero-uno Bitcoin to Dash, Litecoin, Ethereum, Bitcoin Cash etc.
You can choose which cryptocurrencies to display during the wallet’s setup in the user-friendly ‘overview’ section which lists down values of each currency along with its current market price. A ‘master seed’ comprising 12 random words generates your wallet address and stays rooted to your device for restoring the wallet balance in emergency situations.
In stark contrast to the Electrum wallet having a mandatory PIN option, the Coinomi wallet comes with an option of setting a password during setup. Make sure to turn on encryption and enable the screen lock feature of your Android device if you do not fill in any password for the Coinomi application.
Coinomi charges a petty fee for integrating support towards various coins by using either the Changelly or Shapeshift services. This Bitcoin wallet application has ceased to be an open-source one from January 2018 onwards making it cumbersome to make out undisclosed bugs or software loopholes.
Coinomi Wallet is coming soon on IOS as well.
For more details about Coinomi wallets, visit the official website.
MyCelium is a highly acclaimed cryptocurrency wallet which received the ‘Best Mobile App’ award in 2014 from Blockchain.info and till date remains to be the highest review star holders in Google Playstore. Based on an open-source architecture, MyCelium wallet makes it easy to scan for system loopholes and software bugs. The easy to comprehend wallet interface is already a rage amongst users who swear by MyCelium for sending and receiving Bitcoins by scanning QR codes.
The security dynamics of this Bitcoin wallet stands guarded by a PIN number which is mandatory to be provided every time you wish to make payments. The application also supports sweeping of private keys from the paper wallets as well as ‘cold storage’ which can help you in viewing your balance but not transacting in the same. MyCelium wallet does not come with any desktop equivalent but can be used for signing transactions digitally using hardware wallets such as Ledger, Trezor or Keep Key thus enhancing its security dynamics. You can store contacts in the app’s address book for issuing quick transactions.
MyCelium Wallet is also available on IOS as well.
For more details about Coinomi Wallet, visit the official website.
GreenBits is an open source and secure Bitcoin wallet which operates on a cross-platform for being available to Android users and those who wish to restrict their cryptocurrency dealings to the desktop and laptop modes. Its GreenAddress Chrome extension is meant for those who are not very fond of the smartphone medium and runs easily on any and every device compatible with the Google browser.
Users can benefit from near-instant payments through the GreenBits wallet which does not rely on confirmation via the blockchain which can take up to days. Every single payment comes with a unique ‘hash’ which prevents fraudsters from spending the same more than once. A 24-word mnemonic is created during setup and can be used for restoring your Bitcoins in another machine if you current one malfunctions or gets stolen.
The GreenBits app paves the way for a two-factor authentication which will prompt you to set up payment confirmation. A PIN created during the setup stage secures the GreenBits wallet whose decryption key gets destroyed on three incorrect attempts to enter the PIN. In such a case typing in the 24-word mnemonic can be the only way out for recovering your BTC. The setup process might be a bit overwhelming for first time users holding a small BTC quantum. But it goes without saying that GreenBits is a highly secure wallet which becomes easy to navigate once you are done ensuring its security parameters.
For more details about Greenbits wallet, visit the official website.
Blockchain Bitcoin Wallet which can be downloaded and accesses for free by Android users remains to be one of the easiest ways of getting started with Bitcoins. In stark contrast to other wallets having extensive safety features, the Blockchain wallet can be used immediately after installation. Dealing with the user interface having just a ‘Send’ and ‘Receive’ button also becomes a cakewalk for users who are not at ease with complicated setups.
While installing and setting up your Blockchain wallet, do remember to set up your 12 word phrase key which will help you to restore your wallet balance in case your device gets damaged or misplaced. The same wallet can be restored on another device using the 12 word phrase.
Blockchain Wallet is also available on IOS as well.
For more details, visit the official website.
Every wallet appearing in Google Play of Android smartphone users is not verified. There remains a high chance of falling prey to malicious wallets resembling the original. Thus, it is of prime importance to ensure the reliability and credentials of a wallet before proceeding with its download.
KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology , Cryptocurrencies and upcoming ICO’s.
Rohit Kukreja is a Commerce graduate with Financial Markets expertise involving Stocks, Forex, Futures & Options Market and now Bitcoins & Cryptocurrency Markets. Blockchain Enthusiast but not a techie, Rohit is an active member of various Blockchain & Crypto communities all over India.
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