Bitcoin SV Wallet Reviews 2020

Bitcoin SV has gained considerable traction since the hard fork in November 2018 and it is now a popular altcoin among traders and miners alike. A Bitcoin SV wallet allows you to store BSV, check your balance, make payments and receive withdrawals, just like a traditional bank account.

However, you have a wide array of options to choose from and they all have different pros and cons, so this article is designed to help you find the best Bitcoin SV wallet for your particular needs. It will also teach you how to set up a BSV wallet and the key things to look out for when selecting a wallet provider.

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Hardware wallets

A hardware wallet and a software wallet are the two most popular options for anyone that wants to store BSV. A hardware wallet is a portable device that holds your private keys in cold storage to keep it safe from hackers. You can connect it to any computer and use it, while the latest hardware wallets have an OLED screen that allows you to confirm transactions and check your balance.

Software wallets

A software wallet is a cheaper and more convenient option than a hardware wallet. Some software wallets are designed for mobile, others are designed for desktop use, and some work on both platforms. They are generally free and many of them are anonymous. However, they are connected to the internet, so you are always at risk of hackers, phishing scams and so on. It is therefore imperative that you choose a software wallet without any historical security breaches and a strong development team if you decide to go down this route.

Paper wallets

You can also choose a basic paper wallet, which is secure, but you could lose or damage it. Another option is a web-based wallet, whereby you simply register with a provider. You must hand over your private keys unless you use a non-custodial wallet like Guarda. A browser-based wallet is the easiest solution for storing BSV, as registration is quick and easy and you can access it from anywhere, on any device, but it is arguably the least secure.

Online wallets

There are also exchange-based crypto wallets, so you really are spoiled for choice. There is no such thing as a perfect solution, so you simply have to work out what Bitcoin SV wallet would best suit your needs.

Who Should Make Use of This Comparison?

This comparison should guide anyone keen to invest in the hot new cryptocurrency of Bitcoin SV. The SV stands for Satoshi’s Vision, and the coin’s stated aim is to restore the original protocol designed by creator Satoshi Nakamoto, allowing for stability and scalability. Anyone with Bitcoin wallets can benefit from a wallet that is compatible with BSV. It is also rare to hold just one cryptocurrency, so anyone checking out Litecoin wallet reviews or Ethereum wallet reviews, for instance, should also be interested in finding the best BSV wallet.

The comparison is aimed at professional crypto traders, novices and everyone in between. You may already be au fait with the latest Ripple wallet reviews and Binance Coin wallet reviews, but you are looking for a more versatile wallet that also supports Bitcoin SV. You might already have a BSV wallet and be interested to find out if you can swap it for a more secure and user-friendly option, or you may be new to the entire crypto trading process. You can use the comparison to compare the features of all the most popular Bitcoin SV wallets and find the best BSV wallet for your personal requirements.

Editor’s Recommendation

Guarda makes an excellent choice if you are looking for a versatile, secure wallet that supports Bitcoin SV. The Estonia-based company has a reputable development, no known security breaches and solid customer support. It works on mobile and desktop, and Guarda also offers a web-based wallet for added convenience.

BSV is just one of many coins that it supports, and it allows users to buy, exchange and skate crypto. You can store up to 10,000 coins from more than 40 chains, and the platform is open-source, allowing you to go in and check you are happy with it. Coinomi is another good choice if you want a mobile or desktop wallet, while Blockchain offers a good browser wallet.

If you want to print off a paper wallet, sites like BitAdress and GitHub allow you to do it in a safe, secure fashion. You do not need to worry about issues like “how to register Bitcoin-SV wallet” and “how to get Bitcoin-SV wallet address”, as you just keep your keys offline and use them when necessary. For extra security and durability, a hardware wallet is a great choice.

It is also hard to look past the Ledger Nano S, which is light and really easy to carry around, but also sturdy. It has an OLED display and you can connect it to almost any device, without requiring USB. It is reasonably costly, but the investment is well worth it if you plan to hold a substantial amount of BSV for a prolonged period of time.

This is How Our Experts Test Bitcoin SV Wallets

Our team of experts will constantly keep an eye on the market to identify all the latest hardware, software and web-based wallets that are launched. They will perform a cost analysis on the hardware wallets and purchase them, monitoring shipping times and payment methods accepted. They will then test these hardware wallets to see how durable, portable and attractive they are. The reviewers will download the accompanying software, complete the Bitcoin-SV wallet sign up process and assess how simple and effective it is.

Then they test the user experience, focusing on how easy it is to conduct transactions and complete administrative tasks. They will interact with customer support to see how long the waiting times are, and how helpful the representatives are. They will conduct a thorough analysis of the company behind the wallet to check that it is legit, and make note of any security breaches or customer complaints, while evaluating how regularly it is updated and how dynamic the development community is.

They will sign up for accounts at browser-based wallets and download software wallets on a wide range of devices. The reviewers then follow a similar process to test the security, usability, back-up features, customer support and versatility of each BSV wallet. Then they can make a comparison from a position of strength, highlighting the pros and cons of each option and helping you find the best Bitcoin SV wallet on the market.

Finding the Best Bitcoin SV Wallet for You

If you are new to the world of crypto investing, you might ask, what is Bitcoin-SV wallet address? How to create Bitcoin-SV wallet address? If that is the case, you might be best going for a simple browser-based wallet while you learn the ropes. Some of the best mobile-wallets also make the process very simple for you, and offer a great deal of effective educational material. The likes of Coinomi, Edge, Exodus and Guarda are great for beginners. Mobile wallets are also great if you want to make a number of transactions on a regular basis.

If you are an experienced crypto trader and you plan to store a number of coins long-term, it is worth investing in a hardware wallet like the Ledger Nano S. It is sturdier and less prone to water damage than a paper wallet, and more secure than any other option. You can always store the majority of your coins in the hardware wallet and also download a mobile wallet for day-to-day use, as many mobile wallets are compatible with the best hardware wallets. A paper wallet is suitable for a gift, but a hardware wallet is a better long-term BSV wallet solution.

How to Identify the Best Bitcoin SV Wallets

You should search for a Bitcoin SV wallet that excels across as many of these key criteria as possible:

Security

Bitcoin SV is already the sixth-largest cryptocurrency by market cap and it will become increasingly appealing to hackers as its popularity soars. It is therefore important to keep your BSV holdings as safe and secure as possible. Try to use a wallet that allows you to keep your private key offline, and demand a solid two-factor authentication system, impeccable antivirus credentials and the latest encryption software if you opt for an online wallet.

Usability

The best Bitcoin SV wallets are easy to use, facilitate rapid transactions and allow you to check your balance with minimum fuss. You should be able to enjoy a clean, uncluttered user interface, and all the information you need should be clearly displayed. This is particularly true for beginners using basic wallets, but experienced traders should also enjoy a faultless user experience.

Versatility

A BSV wallet that works on a wide range of platforms is always a bonus. You should also expect the wallet to support a broad array of different cryptocurrencies, especially new altcoins that rise in prominence. Look out for a strong development team behind the wallet, as that should ensure it takes advantage of technological developments, responds to the latest security threats and constantly improves the user experience.

Support

The best BSV wallet providers will offer robust levels of customer support. This can be extremely helpful if you have a problem with a particular Bitcoin SV transaction. You should then be able to contact a helpful, professional customer support representative, who can help you solve your issue as efficiently as possible.

Recovery

A strong and secure backup recovery process is vital in the event that you lose your Bitcoin SV wallet or it is compromised in some way. You should be able to provide seed words or unique security questions to help you recover your account. Ideally, you should retain control of your private keys and not hand them over to a third party.

How to Create a Bitcoin SV Wallet

If you order a hardware wallet, you will need to connect it to your computer and download the accompanying software. Then navigate through the on-screen instructions and choose the “Set up as new device” option. Choose your PIN code, which should be between 4 and 8 digits, and confirm by entering it. Your recovery phrase will be displayed just once, and you should write it down and keep it safe. Confirm the recovery phrase by validating it, and you will receive a message that reads “Your device is now ready” once the setup process is complete. You can then access the dashboard and start using it.

You follow a similar process if you download a software wallet. Mobile wallets are found on the app store, while you can download a desktop BSV wallet via the provider or a trusted third party. If you opt for a simple web-based wallet, you must first choose and confirm a strong password. Your wallet will then be created, a process that should only take a minute or so. Download your back-up and keep it safe. Never share it with anyone. You will then be taken through to your new wallet, and you will see BSV displayed as one of the cryptocurrencies on the left.

Why Choose Bitcoin SV?

Bitcoin SV is designed to bring back the initial values of the original Bitcoin, such as decentralization, using it as a payment and trade method and elevating the overall network capacity. If you are similarly evangelical about BSV, you will need a Bitcoin-SV wallet. BCH is another interesting option, but many people like BSV as it is fixed and unlimited.

You can trade BSV at all the major crypto exchanges, and it is an increasingly popular cryptocurrency to invest in. Anyone interested in investing in altcoins and checking out Bitcoin Cash wallet reviews, Tether wallet reviews and EOS wallet reviews should take a look at BSV.

Conclusion

Bitcoin SV continues to grow in prominence and it is imperative that you find a safe, secure, flexible and user-friendly BSV wallet if you plan to invest in it. There are some fantastic software and hardware wallets to choose from, but there are also a number of unsafe or unreliable options, so you should use this comparison guide and stick to the trustworthy, reputable Bitcoin SV wallet providers.

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