Hey Guys, Do you own some Bitcoins? Are your Bitcoins safe? Are you planning to buy some in near Future? or Do you want to know some best ways to safeguard your Bitcoins in Android Mobile? If yes, then trust me you are one step forward to securing your Bitcoin.
If you are new to Crytpocurrency world, then most probably you must have stored your Bitcoin on site/App where you bought them from. Am I correct? If this is the scenario with you, then trust me you might soon end up loosing your hard earned money.
When you keep your Bitcoin or Altcoin on the Exchange or Wallet like (Coinbase, Zebpay, Poloniex etc) from where you have bought them, you do not have much control over them. So, If these sites get hacked or they close down, then you would end up empty handed.
Actually, A Bitcoin wallet consist of a Bitcoin Address and Private Key. So when you store you BTC on an online wallet/Exchange, then they have you Address as well as the Private Key. So, Incase of any malfunctioning or hacking your Bitcoins are at huge risk.
And if you are thinking that does not happen often, then you must have a quick look over Mt. Gox Hack.
I hope that made sense, right?
Now coming to the main point of wallets, So their are various types of wallets to keep your Bitcoins:
- Mobile Wallets (Android & iOS)
- Hardware Wallets (Ledger Nano S)
- Offline Wallet (Paper Wallets)
- Desktop Wallets (Bitcoin Core)
So, Here in this article we will be talking only about Android Mobile Wallets for Bitcoin, However I will soon cover iOS Mobile Wallets aswell. So, Don’t forget to hit that “Red Bell” icon to get instant Notifications of further knowledgeable articles.
Moreover, In Mobile Wallet You own the seed key and no one can spend them without the PIN. Hence these are much safer than your online exchange or wallets.
I know you might still be having many question in your mind about these Bitcoin Android Wallets, so I will share a few faq’s below.
Best Bitcoin Wallet for Android:
These are the Bitcoin Wallets for Android:
|Bitcoin Wallet||Playstore Rating|
So before you just download and start using any Bitcoin Wallet on your Android phones just keep the following in your mind:
Mycelium is one of the most popular Android Wallet where you can easily store your Bitcoin. Even I have been regularly using Mycelium wallet since my friend suggested me.
This Android Wallet has 4.4 Rating on Google Play and more than 100K download which seems to be a green signal for you to install it.
How to use Mycelium Bitcoin Wallet on Android:
- First of all, Download Mycelium App
- Click on “Create New Account“
- Now write down the 12 words, Seed Key on a Paper and Keep it safe & Secure
#CageTip: If you lose these 12 words, you will lose your bitcoins.
You can also take Master Backup thus allowing you to restore your incase your device is lost or damaged.
If you own any Hardware wallet such as Ledger, KeepKey and Trezor, then you can also connect the app with these Hardware Wallets. This will add another layer of security to your Bitcoin.
Moreover, You can a also Buy/Sell or send/receive Bitcoins to other wallets.
Copay is a “Multisig Wallet” which means, this wallet requires a certain amount of people to approve a transaction before it is executes.
Copay is one of the most secure Bitcoin Wallet because of the technology it works on. This makes hacking and even sending Bitcoins a bit harder.
If you got confused with the MultiSig(Multi Signature), then let me give you a real life example. Lets say, you and your wife bought some Bitcoin by collecting some money together for future savings. So, In that case you can use Copay, where both of you have to confirm every outgoing transaction from the wallet.
I hope that makes sense :D, it was just an example!
#CageTip: If you are thinking that Coinbase is an Android Wallet for Bitcoin, it’s not!
Airbitz a simple yet powerful Bitcoin wallet for Android that you can easily use. It offers various features like buying Starbuck and Target Gift Cards at discounted rates.
I like Airbitz because its main motive is to increase support for Bitcoin adoption by making the app user friendly and paying on merchants.
You can also recharge your Phone just like in Zebpay App of India.
It has 4.2 rating on Google play store which is also good.
So, I believe you must have selected your Android Wallet as per your needs. But let me just give you a short snippet of the Bitcoin Wallets that you should not got for as of now:
- GreenAddress Bitcoin Wallet
Though you might see alot of other blogs or people boasting about these Bitcoin Wallets, but after trying them and checking their reviews, it was not much satisfying.
Since you are trusting me and reading this, I would give you a few simple and easy advice before you select your Android Bitcoin Wallet:
- Check Wallet Rating on Playstore: Before you download any app, just make sure that it’s average rating is more than 4. This will show you that most of the people had good experience with the brand.
- Check Latest Reviews on Playstore: Another thing that would surely help you selecting the best wallet for your bitcoin, is the reviews. Just click on the Newest Reviews of the App and go through them. You will easily get the idea about the recent scenario of the app.
Just by following the above mentioned steps, you can keep your hard earned Bitcoin safe and secret.
You can also checkout our other guides:
Do share you views on which wallet do you use for storing your Bitcoins. Let us know about someother Bitcoin wallet that we can add in our list, we would be more than happy to include it.
And Do share this post with your Friends!!