Best Wallet for Bitcoin

[Tranchillo]

Hi everybody,

Which wallet is the best for storing BTC, one that has an annual interest but is also easy to exchange for fiat and transfer to a card?

[Cookdata]

Hi everybody,

Which wallet is the best for storing BTC, one that has an annual interest but is also easy to exchange for fiat and transfer to a card?

There is no Bitcoin onchain wallet with interest, APR or APY. Only two places you can see this, on centralized exchanges and Defi wallets which I don't recommend.

Centralized exchanges gives you interest rate when you lock your Bitcoin and this interest depend on the package you choose. Some are weekly, monthly and annually, the rate looks water mothering but the consequences are deadly.

Defi wallet, these wallets convert your real Bitcoin to fake Bitcoin, the Bitcoin network doesn't have onchain staking, so they convert your real Bitcoin to equivalent version of Xbitcoin(X- could be ethereum chain, Solana, polygon, bcs and many more chains), your coins are converted into 1:1 ratio and they are stake pending till when you want to unstake, by the time you unstake your XBitcoin is convert to real Bitcoin and send back to your wallet. The offer isn't too different from centralized exchanges but whats the use of fake Bitcoin for just interest of <5-6%.

I recommend you make use of hardware wallet for your Bitcoin storage, there are other software wallets like electrum, it's light and very useful, you can also use it with an airgap laptop if you have one.

[Ruttoshi]

Which wallet is the best for storing BTC,

We have software wallets that are open source and noncustodial. Wallets like blue wallet, electrum wallet, sparrow wallet. You can use blue wallet or electrum wallet because they're very easy to use as a beginner. There are hardware wallets too. They are more safer than software walleta because they are airgapped. You can use Foundation Passport for only bitcoin or Trezor for multicoin.

one that has an annual interest but is also easy to exchange for fiat and transfer to a card?

Bitcoin was created not for staking because it uses PoW. However, if you want a service like what you said, you can't get that in a wallet but in an exchange. You should know that it's risky to store your coins in an exchange because they control your private keys and you can lose your funds at anytime. This is why you should only use a noncustodial wallet to store your bitcoin. Not your keys..not your coins.

[Tranchillo]

Which wallet is the best for storing BTC,

We have software wallets that are open source and noncustodial. Wallets like blue wallet, electrum wallet, sparrow wallet. You can use blue wallet or electrum wallet because they're very easy to use as a beginner. There are hardware wallets too. They are more safer than software walleta because they are airgapped. You can use Foundation Passport for only bitcoin or Trezor for multicoin.

one that has an annual interest but is also easy to exchange for fiat and transfer to a card?

Bitcoin was created not for staking because it uses PoW. However, if you want a service like what you said, you can't get that in a wallet but in an exchange. You should know that it's risky to store your coins in an exchange because they control your private keys and you can lose your funds at anytime. This is why you should only use a noncustodial wallet to store your bitcoin. Not your keys..not your coins.

Right now, I was looking at Trezor wallet...as I am at the beginning a software wallet will suit me better and saw that also Cookdata mentioned Electrum, I will have a look on it, thanks for your information.

[Ruttoshi]

Right now, I was looking at Trezor wallet...as I am at the beginning a software wallet will suit me better and saw that also Cookdata mentioned Electrum, I will have a look on it, thanks for your information.

  Before downloading electrum wallet, make sure that you download it from their official site  and also verify the GPG signature. You can also add passphrase to your seed phrase for a better security. Don't forget to write down your seed phrase on a piece of paper and have three duplicates. Do same to your passphrase and keep keep them in three different locations far from each other.

Your seed phrase and passphrase shouldn't be kept in the same place so that, if someone sees your seed phrase, they will not be able to access your wallet without your passphrase.

[promise444c5]

..but is also easy to exchange for fiat and transfer to a card?

only exchanges supports easy exchange for fiat.. most will allow internally through P2P (common) or direct exchange with the exchange itself depending on on the exchange.

I believe you’re used to using CEX wallets with what you just asked, it’s what you can easily do again when you need some fiat , you can still check out this DEX wallet  Bisq
For the debit card you should check this thread, https://bitcointalk.org/index.php?topic=5473572.0
it should help..

[Way of a writer]

Which wallet is the best for storing BTC,

We have software wallets that are open source and noncustodial. Wallets like blue wallet, electrum wallet, sparrow wallet. You can use blue wallet or electrum wallet because they're very easy to use as a beginner. There are hardware wallets too. They are more safer than software walleta because they are airgapped. You can use Foundation Passport for only bitcoin or Trezor for multicoin.

one that has an annual interest but is also easy to exchange for fiat and transfer to a card?

Bitcoin was created not for staking because it uses PoW. However, if you want a service like what you said, you can't get that in a wallet but in an exchange. You should know that it's risky to store your coins in an exchange because they control your private keys and you can lose your funds at anytime. This is why you should only use a noncustodial wallet to store your bitcoin. Not your keys..not your coins.

Right now, I was looking at Trezor wallet...as I am at the beginning a software wallet will suit me better and saw that also Cookdata mentioned Electrum, I will have a look on it, thanks for your information.

Trezor is better, actually one of the best hardware wallet in the crypto world, don't write Trezor off because electrum and bluewallet are good options too, they will run on your phone compare to a wallet thats build separately to keep your Bitcoin safer, safe up for trezor and start using Electrum if you want, for the time being only..

Security wise thats available on Trezor is not available on mobile wallets, and the top point is mobile wallets are always online, you will use your phone for many things, surfing the web and downloading things, but your Trezor can't do these and it is capable of keeping your bitcoin offline which makes it more safer.

Safe up for Trezor and buy it later.

[hd49728]

Which wallet is the best for storing BTC

Best wallet is very personalized need and it depends on your finance too. Perfectly, best wallets are cold wallets which are hardware wallets but remember not all hardware wallets are good.

Choose open source hardware wallets with good reputation to use.
[LIST] Open Source Hardware Wallets
[GUIDE] How to buy a Hardware Wallet the right way

one that has an annual interest but is also easy to exchange for fiat and transfer to a card

Bitcoin is Proof of Work blockchain and work is mining, not staking. So there is no annual interest for you by holding your bitcoin.

Don't convert your bitcoins to Wrapped Bitcoin tokens and stake them, it's very dangerous because they are tokens, not bitcoins and those Bitcoin Wrapped Tokens can lose peg value any time. In addition, staking pools can scam you too.

[Kruw]

There is no Bitcoin onchain wallet with interest, APR or APY.

That's incorrect, JoinMarket is an onchain wallet that allows you to earn from liquidity you provide to coinjoin transactions.

[imthegreat]

Hi everybody,

Which wallet is the best for storing BTC, one that has an annual interest but is also easy to exchange for fiat and transfer to a card?

Electrum is the best cryptocurrency wallet because it's open-source and audited. Trust, for example, was closed to public review, and if I'm not mistaken, so was Exodus. Electrum's interface may be complex, but it really does work like a Swiss watch.
Trust, for example, had numerous interface bugs, which were reported in the news. And in our locale, there are reports that various interface bugs are still occurring.

[Z-tight]

Electrum is the best cryptocurrency wallet because it's open-source and audited.

Yeah, Electrum is an open source wallet. However, it is a self custodial wallet, meaning the user is in custody of their own coins, so they cannot be 'audited', lol. Well reviewed will fit better in place of that.

because electrum and bluewallet are good options too, they will run on your phone compare to a wallet thats build separately to keep your Bitcoin safer, safe up for trezor and start using Electrum if you want, for the time being only..

They are also available on desktop. Electrum can also be set up in an airgapped device, but it takes some knowledge to do that right and in a safe environment. So a hardware wallet is a much more user-friendly way to store funds in cold storage.

[EL MOHA]

Defi wallet, these wallets convert your real Bitcoin to fake Bitcoin, the Bitcoin network doesn't have onchain staking, so they convert your real Bitcoin to equivalent version of Xbitcoin(X- could be ethereum chain, Solana, polygon, bcs and many more chains), your coins are converted into 1:1 ratio and they are stake pending till when you want to unstake, by the time you unstake your XBitcoin is convert to real Bitcoin and send back to your wallet. The offer isn't too different from centralized exchanges but whats the use of fake Bitcoin for just interest of <5-6%.

This is exactly what even other DeFi protocols like lending services or borrowing actually does, they simply just g take the real bitcoin and give Fake bitcoin in the name of wrapped bitcoin. Using Defi features now is more like you’re not having control over your assets it is with the platform and if is this places that we usually have large number of hacks or bridge collapse thereby making users to lose there funds it is currently the most hacked protocols on this crypto space.

As for centralized exchanges it is a waste of time staking bitcoin on this exchanges it is hard to get almost 5% on this exchanges as APY the risk to reward ratio is definitely not favourable for a bitcoin user

Electrum is the best cryptocurrency wallet because it's open-source and audited. Trust, for example, was closed to public review, and if I'm not mistaken, so was Exodus. Electrum's interface may be complex, but it really does work like a Swiss watch.

I don’t understand your statement clearly but exodus is a closed source wallet though

[Smack That Ace]

As people have mentioned, you can use open source software wallets like Electrum, bluewallet or hardware wallets like Trezor, which are safer options.

However, I would like to add one thing, the safety of your bitcoins largely depends on you. Using the best wallet will not guarantee that your bitcoins will be absolutely safe if you do not know how to protect your seed phrase properly. Because it is the only way you can access your bitcoins. So just use one of the wallets people have mentioned, don't spend too much time searching which wallet is the best. Instead, take the time to research which method is safest for storing your seed phrase.

[OcTradism]

As people have mentioned, you can use open source software wallets like Electrum, bluewallet or hardware wallets like Trezor, which are safer options.

Some resources with recommended wallets and a site that has filter for people to choose wallets with features they want.
https://www.lopp.net/bitcoin-information/recommended-wallets.html
https://learnmeabitcoin.com/beginners/wallets/#best-wallets
https://bitcoin.org/en/choose-your-wallet

However, I would like to add one thing, the safety of your bitcoins largely depends on you. Using the best wallet will not guarantee that your bitcoins will be absolutely safe if you do not know how to protect your seed phrase properly. Because it is the only way you can access your bitcoins. So just use one of the wallets people have mentioned, don't spend too much time searching which wallet is the best. Instead, take the time to research which method is safest for storing your seed phrase.

Best wallets are only about their source codes are good or bad but in practice, the wallet software company does not do it on your behalf. You practice and use that wallet software by yourself and if you have good practice, you will gain good security, privacy and even anonymity. It's up to you as the wallet user at the end and any consequence you get will come from your personal practice.

[Webutxo]

Electrum is the best cryptocurrency wallet because it's open-source and audited. Trust, for example, was closed to public review, and if I'm not mistaken, so was Exodus. Electrum's interface may be complex, but it really does work like a Swiss watch.
Trust, for example, had numerous interface bugs, which were reported in the news. And in our locale, there are reports that various interface bugs are still occurring.

The best is individual, people have different opinion from wallet to wallet regardless whether they are open source or close source. Electrum is just one of the best but there are other plenty of wallets that are good too, also I can't remember electrum interface been complex, it has simple interface. I have downloaded sparrow wallet and it's good and light.

[Ahli38]

Right now, I was looking at Trezor wallet...as I am at the beginning a software wallet will suit me better and saw that also Cookdata mentioned Electrum, I will have a look on it, thanks for your information.

  Before downloading electrum wallet, make sure that you download it from their official site  and also verify the GPG signature. You can also add passphrase to your seed phrase for a better security. Don't forget to write down your seed phrase on a piece of paper and have three duplicates. Do same to your passphrase and keep keep them in three different locations far from each other.

Your seed phrase and passphrase shouldn't be kept in the same place so that, if someone sees your seed phrase, they will not be able to access your wallet without your passphrase.

Electrum is a great option. And Electrum is one of the most recommended open source wallets. But any open source things has the potential for someone to modify them. So I personally prefer to recommend Tranchillo to ensure your security when trying it out as Ruttoshi said. And I also recommend you for checking out the guide available in here related to it (Source).

[Zanab247]

Hi everybody,

Which wallet is the best for storing BTC, one that has an annual interest but is also easy to exchange for fiat and transfer to a card?

Why can't you make use of software wallet that is safe and easy for newbies and old Bitcoiners to save their BTC for long years without BTC disappear from their wallets. Electrum wallet is the best which I have tested it as the best wallet anyone can use to store BTC to have opportunity to sell BTC in high price to make a passive profit.

I will not recommend you to exchange wallet op, because you can't live your BTC there for so long base on you are not the only one that have access to your coins in that exchange, those users that transfer their coins to exchange wallet know that they are there to market their coins with the currency of their choice.

[OcTradism]

Why can't you make use of software wallet that is safe and easy for newbies and old Bitcoiners to save their BTC for long years without BTC disappear from their wallets.

Your coins can be spent and moved by yourself or it can be stolen and moved by hackers. In both cases bitcoin will be moved out of your wallet or in your word, disappeared.

It is not only about wallet hacks, but you can make mistakes when broadcasting your Bitcoin transactions so make sure you are carefully check receiving address and amount to send as accurately as wanted before signing any Bitcoin transaction.

Electrum wallet is the best which I have tested it as the best wallet anyone can use to store BTC to have opportunity to sell BTC in high price to make a passive profit.

Use Electrum wallet rightly.

[Guide] Download and verify Electrum wallet.
The paranoid user's security guide for using Electrum safely.

[SatoPrincess]

Hi everybody,

Which wallet is the best for storing BTC, one that has an annual interest but is also easy to exchange for fiat and transfer to a card?

Electrum (android), Blue Wallet (iOS devices), Unstoppable, and Metamask are all good wallets I would recommend for storing bitcoin. However they don’t give an annual interest. Actually no bitcoin wallet gives ROI. You should read about bitcoin wallets: [General] Bitcoin Wallets - Which, what, why?

[nakamura12]

If you really want to know which wallet is good for storing then you should choose electrum wallet. By choosing electrum wallet is that you will find it easy to use and also it is also used by many people. Electrum wallet is open source so you don't have to worry about it being close source wallet and it's also non-custodial wallet which means that there's no other person who has full control of the wallet other than you but it's up to you to keep it safe. It also have mobile version too so you don't have to worry which device you will use.