Best Bitcoin Wallets in UK 2020

Investing in cryptocurrency has become increasingly mainstream in the UK, with the virtually unlimited potential of blockchain technology tempting both experienced traders and novice investors. However, Bitcoin trading is not quite the same as trading in other financial instruments, as the underlying asset is entirely digital. This means that, before buying and selling crypto, would-be traders must find themselves a suitable crypto wallet in which to store their tokens.  Bitcoin wallets vary hugely, but this is often overlooked as traders instead prioritise choosing the best crypto exchanges.

In the following review of Bitcoin wallets UK, we’ll not only consider the different types of wallet available but also what factors you need to consider when choosing the best option, based on your individual requirements.

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Most Popular Crypto Wallets in the UK

There are plenty of options when it comes to Bitcoin wallets in the UK. It’s important to be aware of the different formats of wallet available, as each has its own strengths and weaknesses. What follows is a brief overview of the different types of wallet available.

Desktop Wallets

As the name suggests, desktop wallets allow you to store your crypto tokens on your PC or Mac. They are programs that you download and can only be accessed by the device on which they are installed. They offer a reasonable balance of security and convenience when compared to other wallet types. However, their main drawback is that they do not have many provisions for trading on the go unless accompanied by a mobile app.

Some best desktop bitcoin wallets UK include:

  • Exodus
  • Guarda
  • Electrum
  • Coinbase

Online Wallets

Web wallets are one of the most popular formats as they are readily available, low cost and easy to set up. However, they are arguably the least secure of the different formats available as they can be vulnerable to cyber-attacks. Many experienced traders use web wallets alongside more secure options. Online wallets might be provided by your crypto exchange in the UK.

Hardware Wallets

Hardware wallets come in the form of a physical device, similar to a USB flash drive, which stores all of your crypto offline. These are often referred to as ‘cold wallets’ and are inherently safer than online, mobile or desktop wallets as they are virtually unreachable for hackers and cybercriminals.

The two main hardware wallets on the market are the Ledger series and the Trezor range.

Mobile Wallets

A mobile wallet operates in a similar way to a desktop wallet, only it comes in the form of an app for your phone or tablet. These offer a high degree of convenience and are among the best crypto wallets in the UK. However, mobile devices can be vulnerable to malware and cyber-attacks – particularly if used unwittingly on unsecured networks. It should be noted that many of the best desktop wallets will offer an app optimised for mobile devices.

Top mobile-based wallets include:

  • Copay
  • Electrum
  • Guarda Mobile
  • Exodus
  • Jaxx

Paper Wallets

The final type of wallet is the most basic – a physical, printed copy of your wallet key. These are usually made via apps that generate the key, which is then printed and securely stored by the user. These wallets offer the ultimate security, however, your tokens need to be transferred to a ‘hot’ wallet before you can make any transactions.

Who Should Make Use of This UK Bitcoin Wallets Comparison?

If you are looking to decide on the best Bitcoin wallet in the UK for you, then our comparisons and reviews will be of great benefit to you. Any crypto trading will necessitate having an adequate wallet, but deciding on the best option depends on several important factors. Choosing the best Bitcoin wallet, for example, is not necessarily choosing the best for other tokens. This is why we have separate Ethereum wallet reviewsRipple wallet reviews and Bitcoin Cash wallet reviews, amongst others. If you are a seasoned investor looking to change wallets, or a novice trader looking to enter the market, then this comparison is for you. By looking at the various wallet types and the important factors to look out for, this review of Bitcoin wallets UK should act as a guide for choosing the most suitable option for you.

Editor’s Recommendation – The Best Wallet

With so many options available, it can be hard to know which is the one to go for. To help you make this decision, we have highlighted our editor’s recommendation. However, before learning of this, it should be noted that this is a general recommendation. If you have particular requirements or plan on trading predominantly in a particular token, then be sure to check out our coins-specific posts, such as our Tether wallet reviews, Litecoin wallet reviews, Binance Coin reviews, or whichever token you may prefer.

So, without further ado, our editor’s recommendation for the best Bitcoin wallet in the UK is Copay – a dedicated Bitcoin wallet that is optimised for mobile devices. Copay benefits from an extremely clean and intuitive user interface, which makes it a suitable wallet for those new to Bitcoin trading in the UK. There are also several security features, including multi-signature and two-factor authentication. Copay also benefits from being one of the first Bitcoin wallets to support the Bitcoin Payment Protocol – which guarantees payments only go to their intended recipients.

This is How Our Experts Test Wallets

To help you decide on the best Bitcoin wallet in the UK, we review each wallet according to several key factors. This means that you can easily identify Bitcoin wallets UK that are suitable for you, based on your own priorities.

Reviews and Reputation

Looking at a wallet’s reputation is always a good place to start. Many providers appear great on paper, but sometimes customer feedback tells a different story. We look at a sample of customer reviews as well as general industry sentiment towards each wallet.

Security Features

The best Bitcoin wallet for UK users is more than likely going to be that which is the most secure. With this in mind, we assess the security features of each wallet, how they compare to the industry standards, and whether or not they offer any of their own innovations to keep your crypto secure.

History and Previous Security Breaches

Continuing the security theme, we research the history of each wallet to find out if there have been any significant security breaches and, if so, what steps were taken to ensure they do not happen again in the future. Whilst breaches may set off alarm bells, it should be remembered that they often lead to significant improvements in security.

Customer Support

Even seasoned crypto experts can occasionally run into problems – whether they be technical or operational in nature. As such, a good crypto wallet should have fairly robust customer support offering to ensure help is on hand if required. We look at which channels support is offered by, as well as response time and effectiveness.

Practical Tests: Ease of Use and Practicality

In an ideal world, your crypto wallet would be just as easy to use as a traditional one. Of course, this isn’t quite possible yet, but an innovative wallet interface should allow you to send and receive your crypto with minimal fuss. We check out each wallet’s usability, as well as its design and functionality – a strong performance in each category being prerequisite for the best bitcoin wallet for UK users.

Practical Tests: What Options are Available?

We also look at what options or versions are available for each wallet. For example, some will allow you to customise which security features you have active, whilst others may offer much more customisation with regards to the interface. Similarly, some wallets come in different versions, with each having different features and functionality.

Practical Tests: Speed

Speed can be the deciding factor when deciding on the best Bitcoin wallet in the UK, so this forms a key consideration for our review team.  We look at speed in two respects: firstly, the speed in which the platform, app or device operates, including loading times and transaction speeds. Secondly, we look at how innovative and streamlined the security features are, or whether they add undue delays to sending and receiving crypto.

Comparison

Once we have made a thorough appraisal of each wallet, we then see how it sits alongside its competitors. The best bitcoin wallets UK will all offer a host of features, but comparing them side by side is surely one of the best ways to decide which is the better option for you.

Finding the Right Wallet For You

Whilst our reviews take a thorough look at the features of each wallet, ultimately choosing the best bitcoin wallet for the UK is a decision that will largely come down to personal preference. This also means that before deciding on a wallet, you need to give some consideration to what features are important to you, how you will be using the wallet and what currencies you are interested in trading. With this in mind, what follows are a few tips on finding the right wallet for you.

How Security-Conscious Are You?

This may seem an obvious consideration – of course, everyone wants their crypto to be as safe as it can possibly be. However, different wallets offer differing levels – often at a trade-off with convenience – so you’ll need to think about how important the security is to you. It’s also worth thinking about your own habits – are you good at maintaining suitable passwords? Do you frequently use unsecured networks? These factors can greatly influence which Bitcoin wallets UK are suitable options for you personally.

Do you Require Support for Multiple Cryptocurrencies?

Many of the top wallets available today will support multiple cryptocurrencies, but some will support more than others. Perhaps you already own some crypto, which might influence your choice, but you’ll need to think about how diverse you want your portfolio to become. There are also some wallets that are more suited to certain tokens than others. For example, if you take a look at Bitcoin SV wallet reviews and compare them to, say, EOS wallet reviews, you’ll see that the results can vary based on token-specific attributes.

How Will You Be Using Your Wallet?

When weighing up Bitcoin wallets UK, it’s also a good idea to think about how you plan on using your crypto. For example, wallets that are highly compatible with Bitcoin Casinos in the UK may not be suitable for crypto mining UK accounts. Alternatively, if you are looking to ‘Hodl’ tokens, then you may find a hardware wallet is far more practical and secure then web-based options.

Will You Be Looking to Trade on the Go?

Finally, will you be looking to send/receive crypto on the move? This applies to anyone who might want to pay for things with cryptocurrency, or traders who look to make numerous transactions day-to-day. Many of the top wallet firms will offer a mobile app or mobile-optimised version of their platform. If you plan to use your tablet or phone for transactions, then this will be a key factor in choosing between Bitcoin wallets UK.

Conclusion

Trading Bitcoin in the UK is a highly accessible form of investment and the abundance of exchanges and wallets available means there is plenty out there to suit both newbie traders and seasoned pros. Wallets are usually the first important consideration for the would-be trader and, as we have seen, choosing the best Bitcoin wallet for UK users will depend on several factors – including personal preference.

Bitcoin wallets UK come in a variety of formats, each one with its own strengths and weaknesses. Often, users will to some extent need to prioritise either convenience or security, however, there is also the option of using a combination of wallets to ensure you get the best of both worlds. So, before deciding on which cryptocurrency to invest in, be sure to give careful consideration to where you plan to keep it.

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