SOFTWARE (HOT) WALLETS
Once you have made your first bitcoin purchase, it is recommended that you withdraw your coins from the exchange into self-custody. This is important in case the exchange you were using suffers a hack, goes bankrupt, or gets shut down for whatever reason. Remember, there is no deposit insurance with exchanges in the same way there is with banks.
There is a large selection of wallets available to choose from, which can be pretty overwhelming if this is your first time. To help you, I have listed here some of my favorite bitcoin software wallet apps that you can choose from. All the wallets listed here are self-custodial, which means that you own and control the keys to your coins.
UPDATE (November 2025): With the introduction of new Layer 2 scaling solutions in the last few months, I have updated this list to include a few Spark wallets. As it is getting easier to interact with Lightning in a self-custodial way, I have decided to remove the custodial Lightning options from my list. I also removed wallets that have not had any updates or social media posts in the past year.
| SOFTWARE APP | AVAILABLE PLATFORMS | NETWORKS | OTHER INFO |
|---|---|---|---|
| Alby Hub | Cloud server or personal server/node, Windows, macOS, and Linux | On-chain & Lightning | - Self-custodial Lightning wallet - Can connect to Alby browser extension or Alby Go mobile app |
| AQUA | iOS and Android | On-chain, Liquid, & Lightning | - Self-custodial wallet - Can hold BTC, L-BTC, & stablecoins on the Liquid sidechain - Interaction with Lightning takes place through the Boltz integration - Balance of the Layer 2 "Spending" account is held solely in liquid bitcoin (L-BTC) |
| BitBit Wallet | Browser extension | Lightning & Spark | - Self-custodial Spark wallet - Can connect wallet to X account - Send & receive tips between X users - On-chain send and receive supported |
| Blitz Wallet | iOS, Android, and web browser app | Lightning & Spark | - Self-custodial Spark wallet - On-chain send and receive supported - Can also receive via Liquid and Rootstock |
| Blockstream App | Windows, macOS, Linux, iOS, and Android | On-chain, Liquid, & Lightning | - Self-custodial wallet - Can hold BTC, L-BTC, & other assets on the Liquid sidechain - Interaction with Lightning takes place through the Boltz integration |
| Blue Wallet | macOS, iOS, and Android | On-chain & Lightning | - Self-custodial wallet - Lightning is only available through an external connection to an existing wallet (LNDhub) |
| Breez | iOS and Android | Lightning | - Self-custodial Lightning wallet - On-chain send and receive supported |
| BULL Wallet | iOS and Android | On-chain, Liquid, & Lightning | - Self-custodial wallet - Can hold BTC and L-BTC - Interaction with Lightning takes place through the Boltz integration - Can connect to the Bull Bitcoin exchange directly from the app, if available in your jurisdiction of residence |
| Cake Wallet | iOS and Android Desktop versions are listed, but not regularly updated | On-chain, Lightning, & Spark | - Self-custodial wallet - Spark/Lightning balance is separate from on-chain balance - Supports multiple altcoins and tokens, including XMR |
| Electrum | Windows, macOS, Linux, and Android | On-chain & Lightning | - Self-custodial wallet |
| Exodus | Windows, macOS, Linux, iOS, Android, and browser extension | On-chain | - Self-custodial wallet - Supports multiple coins and tokens - NOTE: not open-source! |
| Misty Breez | iOS and Android | Liquid & Lightning | - Self-custodial wallet - Interaction with Lightning takes place through the Boltz integration - Currently in Beta |
| Phoenix Wallet | iOS and Android | Lightning | - Self-custodial Lightning wallet |
| Sparrow Wallet | Windows, macOS, and Linux | On-chain | - Self-custodial wallet |
| Wallet of Satoshi | iOS and Android | Lightning & Spark | - Can be used either as a custodial Lightning wallet or as a self-custodial Spark wallet - On-chain send and receive supported |
HARDWARE (COLD) WALLETS
If you are holding large amounts of bitcoin, for example over $1,000 worth, then I recommend purchasing a dedicated hardware device to store the keys to your funds. These are called hardware wallets. The main difference between hardware and software wallets is how the keys to your money are stored. With software wallets (also called hot wallets), the keys are stored (and encrypted) on the same device as the software that your keys interact with (desktop computer or mobile phone). Hardware wallets store your keys on a dedicated device that does not connect to the internet, protecting your keys be from any malware on your computer. Below I have listed some excellent well-known hardware wallet brands you can choose from. Some of these devices can be used to interact with other blockchains and tokens. Most (but not all) will offer Bitcoin-only firmware.
All wallet options listed below are open-source (except Ledger)
LIST OF HARDWARE (COLD) WALLET BRANDS & DEVICES
| HARDWARE MAKER | INFORMATION | LIST OF HARDWARE WALLETS |
|---|---|---|
| BITBOX | Swiss made; great for newcomers and long-time hodlers! Only the Nova versions have Bluetooth support. | BitBox02 Nova Bitcoin-only edition BitBox02 Nova Multi edition BitBox02 Bitcoin-only edition BitBox02 Multi edition |
| BITKEY | Innovative alternative; built-in multisig; BTC only | Bitkey Version 2 |
| BLOCKSTREAM | Air-gap use is an available option, in addition to wired and Bluetooth connection; supports the Liquid Network | Blockstream Jade Plus Blockstream Jade Core Blockstream Jade Classic |
| FOUNDATION | BTC only | Foundation Passport Prime Foundation Passport Core |
| KEYSTONE | Bitcoin-only firmware available; air-gap only | Keystone 3 Pro |
| LEDGER | The most popular hardware wallet maker; all devices work with the desktop or mobile companion app, except the Nano S Plus, which does not have Bluetooth. NOTE: Devices are NOT fully open-source | Ledger Stax Ledger Flex Ledger Nano Gen5 Ledger Nano X Ledger Nano S Plus |
| SEEDSIGNER | Custom-built hardware; BTC only; air-gap only. For those who want to take the DIY route. | Seedsigner |
| TREZOR | The original hardware wallet! Only the Safe 7 has a battery and Bluetooth support; The Safe 5 and 7 have a touchscreen; the Safe 3 has two buttons; Bitcoin-only firmware is available. | Trezor Safe 7 Trezor Safe 5 Trezor Safe 3 |
UPDATE (August 2026): An entropy bug was recently discovered in the firmware of all COLDCARD devices dating back to early 2021. Unnoticed for so long until someone found it using the latest AI model. For over 5 years, COLDCARD users were generating new wallets (a 12 or 24 word backup phrase) that did not have enough randomness in it. Instead of using the built-in TRNG to generate the wallet backup, it used a PRNG, which had fewer bits of entropy and therefore, generated wallets from a much smaller range of possible options. Since this discovery, malicious actors have been scanning this entire range of seed phrases and draining the wallets of COLDCARD users. Because of this, I can no longer recommend the COLDCARD or any Coinkite product. Investigations are ongoing. For a better explanation of what happened, be sure to follow the stories on X or YouTube.