Whether you’re just a beginner in the world of cryptocurrencies or an expert, you need a great Bitcoin wallet to store all your coins. These bitcoin wallets come in a lot of different types – hardware wallets, online wallets, and paper wallets – and all of them have their unique sets of advantages and disadvantages.
In this article, I’ll give you a detailed introduction to 5 of the best bitcoin wallets for iPhones.
Now before we get started, you should know that iPhone bitcoin wallets aren’t the most secure forms of storing altcoins. This is because, iPhone wallets are “hot wallets”, i.e., they’re connected to the internet. This makes it easier for hackers to access your phone and steal your data. The good bitcoin wallets put up plenty of security against it. However, it can still happen.
Furthermore, if you lose your iPhone, then you also lose all your cryptocurrencies because the private key will be in the iPhone. To avoid this, please keep a backup of all your bitcoins and set up a seed phrase so you can recover access to them.
However, even after you take those precautions, iPhone bitcoin wallets are still not the safest means of storing bitcoins. If you want the most secure means possible, you should get hardware wallets such as TREZOR or Ledger Nano S. These hardware wallets aren’t connected to the internet and as such they don’t run the risk of being hacked.
Below, you’ll find a comparative table of the 5 best bitcoin wallets for iPhone.
The following is a comparative table of all the best bitcoin wallets for iPhone based on factors such as user-friendliness and security. You can go through it to help narrow down your search for the ideal bitcoin wallet.
|Bitcoin Wallet||Security||Anonymity||Ease of Use||Download App|
Read on for a detailed introduction and review to the top 5 iPhone bitcoin wallets.
PART 1: MyCelium
MyCelium is a highly secure and private iPhone bitcoin wallet. That’s probably what makes it one of the most favored and popular wallets in the market, despite the fact that it has a complicated user interface. This makes it ideal for businesses and individuals who trade in cryptocurrencies on a regular basis, but not so ideal for beginners.
One of the best aspects of this wallet is that it’s open source. And as such it’s constantly being upgraded and developed via the efforts of developers and users from around the world.
- Hierarchical Deterministic Wallet: A ‘master seed’ is used to gather future addresses sequentially. As such, no addresses are reused.
- Bit ID: This is a highly secure form of authentication which ensures the utmost security for the wallet.
- Secure Chat: All chats held in the platform are encrypted completely so that only the participants may view them. Even MyCelium only receives the encrypted version of the chats along with a time stamp.
- Rating System: One of the aspects that makes MyCelium so safe and transparent is the presence of the rating system. As such, all buyers and sellers develop a personal rating based on the number of transactions they’ve conducted either successfully or aborted. This helps you deal with only trusted buyers and sellers.
- Open Source: The app code can be modified and developed by anyone, which means it’s always upgrading and developing.
The following tutorial will help you get started with MyCelium:
PART 2: Breadwallet
Breadwallet is the best iPhone bitcoin wallet to go to if you’re looking for simplicity. You can use it to hold bitcoin transactions directly from the iPhone without much hassles. The user interface is also highly intuitive. Breadwallet has been launched as an alternative global bank but without limitations, hidden transaction fees, or any geographical or timely restrictions.
- Simple UI: It can be used 24/7, from anywhere at all, and the UI is extremely basic and easy to handle.
- Simple Process: To set it up, all you have to do is enter a PIN and start storing bitcoins!
- Simple to Recover: You can set up a Paper Key which can be used to restore your information in case your iPhone is lost of has been stolen.
- Privacy: Only the user can access their transaction information or history. Breadwallet has no access to it.
Watch the following video on how to use Breadwallet:
PART 3: Airbitz
Airbitz is the iPhone bitcoin wallet you should consider using if you want a wallet that’s also ideal for active trading as opposed to simple storage. This platform is highly flexible, secure, and it comes with some great features and plugins that allows you to make transactions across various cryptocurrencies easily.
- Fold Integration: You can buy gift cards for popular stores such as Target and Starbucks using your Airbitz wallet.
- Biterefil Integration: If you use a pre-paid phone, you can top-up your data or your call hours by paying through your bitcoins in the wallet.
- Easy Interface: Even beginners can easily get a hang of the user interface.
The following is a great introduction to AirBitz:
PART 4: Copay
Copay is the ideal iPhone bitcoin wallet for you if you need an online wallet that can be easily integrated with your iPhone, desktop, tablet, and any other devices. Copay is also ideal for use by businesses because of its innovative multi-signature feature, which resembles a joint account in a bank. As such, you can set it up so that several individuals have access to the wallet. This is highly secure because then every transaction will require the approval of all the individual members.
Alternatively, you can also set it up in a way so that any of the members may individually approve a transaction. However, in addition to businesses, Copay is also the ideal platform for beginners because it has a simple user interface.
- Shared Wallet: Several members can be signed up for the wallet. As such all of them will have access to the wallet, the bitcoins, and you’ll be able to determine whether they can all sign off on transactions individually or as a group.
- Multiple Wallets: If you need to maintain several accounts such as a business account, a personal account, you can use this app as it allows you to maintain several separate wallets.
- Secure Payment: As a part of the Bitcoin Payment Protocol, Copay makes sure that all your transactions are going to the right address, lowering the chance of human error and empowering you to send messages freely.
- Open Source: As an open source app, it’s constantly being developed and upgraded.
Watch the following video to learn how to use Copay:
PART 5: Jaxx
Jaxx is a cloud-based iPhone bitcoin app with a wide range of features. When it comes to security, there are certain reservations considering all of your information is stored on the cloud which can easily be hacked.
However, Jaxx is also one of the most convenient apps to use because of its efficient UI and the fact that, like Copay, it can also be used across various devices beside an iPhone. Additionally, Jaxx is one of the few wallets that can store all cryptocurrencies available in the market.
While the cloud-based storage does make it vulnerable, they still use all necessary security precautions to ensure that your bitcoins remain safe.
- Online Transactions: Selling and buying bitcoins from your iPhone is made easy with Jaxx.
- Available on all Platforms: You can use Jaxx on all platforms beside iPhone, such as Android, Windows, Linux, etc.
- All Cryptocurrencies: All cryptocurrencies can be supported with Jaxx.
Read: Jaxx Review
The following YouTube video will show you how to use Jaxx:
Can you store large quantities of Bitcoins in your iPhone wallet?
Yes, you can store large quantities of bitcoins in your iPhone wallet. However, doing so isn’t advisable. iPhone wallets are “hot wallets”, which means they’re always connected to the internet. This makes them an easy target for malware and hackers.
If you need to store a large quantity of bitcoins for long periods, you should use cold storage means such as hardware wallets. These aren’t connected to the internet and as such they’re the most secure forms of storage. The two best hardware wallets you can try are Ledger Nano S and TREZOR.
How can I trust if a wallet is legit?
This is quite an important question and it’s a valid concern. A lot of the online wallets in Google Play Store tend to be malware. However, this is less of a concern with iPhone wallets as Apple Store has a stricter verification process.
Furthermore, all the iPhone wallets mentioned above are open source. This means that developers from around the world can view and edit its source code. Even if you can’t verify the code yourself, you can trust it because it’s completely transparent for developers to check.
Can you use these wallets on a jailbroken iPhone?
Yes, you can use these wallets on a jailbroken iPhone. However, you should avoid doing so. Jailbroken devices are easy to hack into and they’re susceptible to malware. This leaves your bitcoins vulnerable.
Can you connect hardware wallets to iPhone wallets and devices?
iPhones can’t be connected with hardware wallets unfortunately. If you want an online mobile wallet that you can connect to a hardware wallet, you should look at bitcoin wallets for Android mobile devices.
Are iOS wallets free?
All iPhone wallets are completely free. You only have to pay for hardware wallets, and that too only for the device.
Can my bitcoins be stolen if someone gains access to my iPhone?
This depends entirely on the security features of the particular wallet you’re using. Some wallets come with strong security features and some come with just the basic features. All iPhone wallets, however, use a PIN with which you can access the wallet. As such, if someone steals your iPhone, they’ll need access to your PIN as well.
Furthermore, even if they hack into it, all of the data is encrypted so only a very skilled hacker can truly access it. However, to avoid losing all your bitcoins, you should backup your wallet as well and restore it using a seed phrase.
How to create a backup for my iPhone wallet?
The most effective means of backing up your iPhone wallet is to use a 12-24 word long seed phrase.
Which wallets work for both an iPhone and a desktop?
There are several wallets that work across various platforms. However, amongst the wallets mentioned above, Jaxx and Coinpay have the best cross-platform applicability. In these apps, all your iPhone transactions would also reflect on your desktop.
What about Coinbase iOS wallet?
This is a very common misconception, but Coinbase is NOT a wallet. It’s a popular exchange platform where you can buy bitcoins. You can also store bitcoins there, however you should not do so due to the risk of hacking.
In conclusion, there are a lot of different iPhone bitcoin wallets available in the market. Some of them are great for holding transactions (Airbitz), some are known for their security features (MyCelium), and some are great for cross-platform usage (Copay). Which platform you use depends entirely on your needs.
Whatever you decide to use, please comment down below and let us know all about it!
Description: There are a lot of great iPhone bitcoin wallets in the market, all of which come with their own sets of features. Some are great for trading, some for security, and some for flexibility. In this article, we’ll decide which is the best iPhone bitcoin wallet for you.