iPhone Wallet: are they any good?
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Wallets appear to have an essential role during various Bitcoin transactions as well as when it comes to storing the digital money. The most important feature that any wallet must have is the safety. If a wallet is not safe enough, then the Bitcoins stored in it can be easily stolen, hacked and create a number of other problems. Some of the safest types of wallets are hardware wallets, which work offline. However, some users claim that it is not very convenient and handy to use similar wallets. In this article, you can learn more about different Bitcoin wallet apps and even about the best Bitcoin wallets for iPhone.
What are Bitcoin iPhone Wallets?
If you are an iPhone user you can download a Bitcoin Wallet from App Store and store your Bitcoins there. These are applications which keep your public and private keys and let you make transactions with your Bitcoins. The main risk of similar apps is that the public and private keeps can be hacked as they are online. Also, in case you lose your phone or something happens to it, then your Bitcoins are again at a risk. This is why experts often recommend not to store large amounts of Bitcoins on similar apps.
When it comes to convenience and accessibility, hands down – iPhone wallets win the game. These usually are in form of apps that enable users to store, receive and send the cryptocurrency of their choice.
Disclaimer: Despite the amount of convenience different bitcoin iPhone wallets have to offer, it is not recommended to keep large numbers of Bitcoins in mobile apps. Make sure you do a good research before trusting an app and try to avoid scams as much as possible.
Pros of Bitcoin iPhone wallets:
- Handy for various transactions.
- Transactions happen within seconds.
- Some apps allow their users to perform simple transactions and exchanges without entering many details.
Cons of Bitcoin iPhone wallets:
- Vulnerable to hacking when connected to the Internet.
- Some apps prevent the users from doing large transactions.
- If the phone gets ruined or lost, the bitcoins will also be lost (some apps prevent this: please see below for details).
Best Bitcoin wallet iPhone apps
Breadwallet (Rated 4)
Breadwallet is an app best known for its easy use. There is no need to sign up as a user and they offer free help desk, which is always helpful in case of problems.
- It is safe as it uses hardware encryption to secure Bitcoins stored in client’s wallet.
- To get it, you just need to download it and install directly from iOS.
- The users connect directly to the server. This means that Breadwallet is unable to see the financial information of its users.
- The app has $100 security bug.
- If the safety is somehow affected negatively, the app offers a minimum of $500 in form of reward.
Airbitz >> (Rated 4.2)
Airbitz is a Bitcoin wallet app, which allows its users to choose their own Bitcoin private key.
- It can connect to multiple public Bitcoin nodes and ensures the wallets are working even if something happens to the servers.
- You can make payments using Bluetooth without QR codes.
- Enables log in with TouchID.
- There are no set limits or fees for the wallets.
Copay (Rated 4.5)
Copay is a Bitcoin wallet for iPhone and not an account service. It is relatively secure as it uses multisignature, which requires multiple approvals to identify the owners.
- It can have multiple wallets within the same application and provides its users with privacy.
- The payment verification is done through a protocol that secures and makes sure that the money is sent to the right merchant with just one click on the send button.
- It offers email verification to start a push notification for payment and transfers.
- The users can customize the wallet with own preferences.
- It supports multiple languages including German, Chinese, French, and Spanish.
- Easy to install. Download from iOS and fill your credentials, then you are good to go.
MyCelium >> iOS (Rated 4.1)
MyCelium iOS is one of the best Bitcoin wallets for iPhone. This app gives its users a complete control over their private keys.
- It does not require any Blockchain to be downloaded.
- You can install the app within a few seconds.
- Connection to Bitcoin nodes is very good and quick.
- It is also compatible with other services thanks to Bitcoin URI
- You can incur extra charges on Bitcoins sold which is typical of regular banks.
Jaxx >> iOS (Rated 3.5)
Jaxx iOS is an app designed for iOS only. It is also known as Jaxx Blockchain Interface and wallet.
- In terms of security, it offers a private key to the client, which is never sent to any servers. As a result, the wallet is rather safe.
- Simple to install.
- Search for Jaxx Blockchain Interface and wallet in the iOS App Store and install.
- It does not require any personal information (not even email).
- You will get a few instructions, which will help you through setting up.
- The main disadvantage of the app is that Bitcoin transactions are not often updated, which may lead to the loss of Bitcoins.
Coinomi (Rated 3.9)
Coinomi is a wallet that enables the users to exchange as well. It is secure, easy to use and lets users do instant exchanges.
- It makes sure that the users’ privacy is respected.
- Easy to install and to set up the wallet (can be done within a couple of minutes).
- After installing, you just have to follow the instruction to get started.
- It is not open source.
- If something happens to the phone, the Bitcoins stored in Coinomi will not be affected anyhow.
- Has a good customer support.
Other types of Bitcoin Wallets
iPhone and mobile Bitcoin wallets, however, can be substituted with a number of other types of Bitcoin wallets that offer various features. Here are some of the most popular types of Bitcoin wallets:
Online Wallets are also known as Web Wallets. These are classified as hot wallets. They are very easy to use due to being accessible from various devices with the Internet.
- Easy to use.
- Can be set up quickly without any issues.
- Handy for trading Bitcoins online.
- Private keys are online.
- Can be hacked.
- Bitcoins can be stolen.
- Not recommended to use for storing large amounts of Bitcoins.
You can print your public and private keys and keep them on a piece of paper.
- More secure compared to online and iOS, Android wallet apps.
- Paper wallets can be easily damaged or lost.
- Can be stolen (the piece of paper).
Hardware wallets are known as the safest type of Bitcoin wallets. They are classified as cold storage wallets. Usually, hardware wallets are in form of devices that have to be plugged into a computer during transactions.
- The most secure way of keeping Bitcoins.
- Very low risks of theft.
- They have to be purchased
- Not very convenient for constant use.
summing things up
Bitcoin wallets for iPhone are very useful and helpful when it comes to making quick transactions instantly. However, as safety matters a lot and has to be taken care of, you have to note that Bitcoin software wallets are not the best in terms of security. Just like any other online Bitcoin wallets, it can be hacked, stolen etc. Make sure you are careful in choosing a wallet for your Bitcoins. Also, make sure to check our website to learn a lot more about Bitcoins and other cryptocurrencies. Thank you, for next time!