9 Best Bitcoin Wallets for UK Users

The odds of you searching for the best bitcoin wallet to secure your assets are as high as your desire to protect your hard-earned money.

Let’s face it.

No one loves losing their assets, talk more about precious bitcoins that could be worth so much more in the future. Bitcoins that cannot be recovered because they are permanently lost are called “orphan coins.” We believe you have no plans to send yours to their earlier grave. An estimated 4 million bitcoins are permanently lost, and the number continues to rise.

For this reason, we provide this shortlist of the best bitcoin wallets for UK users. While we’ve made this list primarily with security in mind, we've also considered the recommended solutions' ease of use and reputation.

First, though, let’s discuss some things you should consider when selecting.

What should you look for in a Bitcoin wallet?

Security: As noted earlier, security is the primary feature when looking for a bitcoin wallet. Hackers are always hunting for bitcoin owners who fail to properly secure their private keys, passphrase, or even store them online.

Therefore, the ideal bitcoin wallet should at least offer enough security for your assets, preferably by keeping substantial amounts entirely offline. The best cryptocurrency wallet is the non-custodial type which allows you to store and back up your keys.

Ease-of-Use: Whether you’re going for a hardware or mobile wallet, the last thing you want is not to be able to read instructions on the screen freely or feel constrained with what you can do with your Bitcoin wallet.

For this reason, you may want to prioritise using wallets with a smooth user interface and sufficient functionalities. Features such as QR codes, wallet management, and fiat payment options make a wallet more user-friendly.

Privacy and Lightning Network Support: Experience Bitcoin users prefer wallets that offer privacy-preserving features such as non-reusable addresses and Taproot. The ideal wallet also supports Segwit transactions, allowing lower fees when transferring bitcoins.

You may also consider getting a Bitcoin wallet with Lightning network support. These wallets enable instant and extremely low-cost transactions settled on Bitcoin's second layer.

Multi-coin Support: If Bitcoin will not be the only asset in your cryptocurrency portfolio, then it is best to find a wallet that includes support for other assets that you want to hold as investments.

Most wallets typically support Bitcoin, Ethereum, ERC-20 tokens, and other large-cap cryptocurrencies. If you’re investing in projects built on other blockchain projects, please confirm that the wallet you want to use supports these assets.

Having considered what to look for in a Bitcoin wallet, let’s go through our best picks.

Best Bitcoin Wallets in the UK

The best UK bitcoin wallets would include those that support buying Bitcoin with GBP or EUR. Although most non-custodial bitcoin wallets do not support such a service, here are our top picks:

Hardware wallets

Hardware wallets are devices for cold (or offline) storage of cryptocurrencies. Users' private keys are stored on a secure hardware device, making it less susceptible to hacking and theft. It is ideal for storing large amounts of cryptocurrencies (typically above $1000).

Ledger Nano X

Wallet Cost: £136

Incorporated exchange: No

Pros

• Ledger Nano X is the most secure hardware wallet.
• It is easy to set up as long as you follow the guidelines in the user manual.
• The device is lightweight and has Bluetooth functionality, making it easier to carry around.
• Supports Bitcoin and crypto purchases with GBP via Coinify.
• Ledger offers responsive customer support 

Cons

• The Ledger Nano X is a pricey hardware wallet at £136. The high price is why its more affordable variant, the Ledger Nano S Plus, has more sales.
• The wallet could use a better user experience.

The Ledger Nano X device features are constructed from plastic or stainless steel and weigh just about 34g. Bluetooth functionality allows it to connect to your phone or PC without a cable.

By adopting high-grade, secure chip technology, the Ledger Nano X is arguably the most secure bitcoin hardware wallet in the market. It boasts a CSPN (First Level Security Certificate) certification issued by ANSSI (National Agency for Information Systems Security).

Trezor Model T

Price: 263 EUR

Incorporated exchange: No

Pros

• The Trezor Model T supports more than 1000 coins.
• It offers an extra suite of tools for managing digital security, including a password manager, Universal 2nd Factor (U2F), GNU Privacy Guard, etc.
• With a bright colour LCD of 240x240 pixels, the Trezor T offers a better user experience than existing hardware wallet solutions.
• Trezor Suite offers a CoinJoin integration that enhances the privacy of Bitcoin transactions.
• The device is ideal for travelling and can be carried on an airplane.
• It supports the buying of bitcoin with GBP.

Cons

• The wallet is relatively expensive.
• Trezor can read your IP address and transaction history unless you set up a Tor browser and run a full bitcoin node

Mobile wallets

Mobile wallets are what the name sounds like. They are bitcoin wallets that allow you to carry your bitcoins on your mobile phone and are best suited for individuals who transact their digital assets regularly.

Trust Wallet

Supported Devices: Android, iOS & Web Browsers

Support Decentralized Apps: Yes

Incorporated exchange: Yes

Pros

• Trust Wallet boasts an excellent user interface and easy navigation for first-time users.
• Users can set custom fees for bitcoin transactions
• Trust Wallet supports most large-cap cryptocurrencies and ERC-20 and Binance Smart Chain tokens. (Trust Wallet is partially owned by crypto exchange, Binance).
• The wallet includes native support for Ethereum-based decentralised applications, such as DEXes and DeFi apps.
• UK users can buy bitcoin and other cryptocurrencies using GBP or EUR.

Cons

• Users risk losing all their funds to a minor security mistake, as with all mobile wallets.
• Trust Wallet does not support receiving bitcoins via Legacy addresses. The wallet only provides bc1 addresses.

Coinomi

Supported Devices: Android and iOS

Support Decentralized Apps: No

Incorporated exchange: Yes

Pros

• Coinomi is a fully non-custodial wallet that supports multiple blockchains and tokens.
• The bitcoin app includes high-security features such as IP masking and HD algorithms.
• Users can set custom fees for BTC transactions
• Coinomi implements non-reusable addresses by default, thus increasing privacy.
• Coinomi supports the signing of messages from associated addresses.
• Coinomi supports the purchase of Bitcoins for GBP via Simplex, BTC Direct and Gift cards.

Cons

• The wallet could use a better user interface.
• The Coinomi wallet doesn’t support native integration with decentralised applications.

Online wallets

Online wallets are Bitcoin wallets that live on the internet. A cryptocurrency exchange platform typically offers them.

Gem Crypto Wallet

Incorporated onramp: Yes

Supports Decentralized Apps: Yes

Pros

• Gemwallet is a mobile app wallet that does not host your private keys.
• The service is not custodial since users can recover their assets via a passphrase.
• The Gem Crypto Wallet supports five other coins aside from Bitcoin.
• The platform allows users to participate in DeFi activities.
• NFTs are supported as well
• You can also buy Bitcoin with GBP using bank cards.

Cons

• Gemwallet doesn’t have an integrated exchange as it's a non-custodial wallet app.

Blockchain.com launched in 2023 and has a lot to offer as one of the newer players among Bitcoin wallets. The user interface is very convenient and crisp for first-time users and is up to onboard many new investors to the industry.

Liquality Wallet

Incorporated exchange: Yes

Pros

• Liquality wallet is fully non-custodial and requires no registration.
• It supports atomic swaps for easy conversion between Bitcoin, Ethereum and ERC-20 tokens.
• The wallet’s UI is easy to use even though its actions are complex.
• Liquality supports Bitcoin as well as many tokens used on decentralised apps.

Cons

• This solution is only available as a browser extension.
• Liquality’s wallet solution is relatively new. It may not be the best bitcoin wallet for first-time users without experience with Bitcoin transactions.
• Being a hot wallet means there’s a high of getting hacked.

Liquality wallet is a bitcoin wallet that exists in the form of a browser extension. It is fully non-custodial and ideal for investors who use decentralised applications or want to transact bitcoin regularly.

Desktop wallets

Desktop wallets are Bitcoin wallets that let you store private keys and manage your assets on your laptop or desktop.

Exodus

Incorporated exchange: Yes

Pros

• Exodus Wallet is easy to set up and offers an excellent user experience.
• Excellent customer support
• Available on multiple devices.
• Users can easily connect Exodus to the Trezor hardware wallet for a more secure experience.
• Exodus Wallet users can easily generate new addresses for each BTC transaction to enhance privacy.
• Exodus Wallet supports multiple cryptocurrencies (260+) and built-in exchange.
• Supports staking of proof-of-stake (PoS) coins.

Cons

• The wallet is not fully open-source and has faced security issues.
• Fees can sometimes be higher than other desktop wallets.

Exodus Wallet launched in 2015 and built a strong reputation for striking a balance between being user-friendly and offering adequate security for crypto assets. It is prominent for the colourful portfolio manager to appear on the screen upon accessing the application. Exodus Wallet is also available on mobile for both Android and iOS users.

Electrum

Incorporated exchange: No

Pros

• Electrum is arguably the oldest and decentralised Bitcoin wallet.
• Funds are stored in cold storage, while users can go online with a wallet that allows them only to view their asset prices in real-time.
• Electrum seamlessly integrates with third-party plugins such as Ledger wallets.
• Electrum supports multi-sig, allowing Coin Spend permission to be spread across several wallets and individuals.

Cons

• Users are prone to losing funds when downloading Electrum clients from phishing websites. The solution is to download clients only from the official Electrum website.
• Electrum is a Bitcoin-only wallet and thus doesn’t support an in-built exchange.
• New-generation wallets offer a better UI experience.

Paper wallets

Paper wallets are a way of keeping cryptocurrency wallets entirely offline. When you generate a paper wallet, you print the public and private keys for a new Bitcoin address and then send funds to that address.

It is considered the safest way to store Bitcoin since the only task is to take care of the paper and ensure nothing happens to it. Although considered archaic in the age of user-friendly options, a Bitcoin paper wallet is ideal for people who want to store Bitcoin for the long term.

The most popular to use bitcoin paper wallet generators include:

https://www.bitaddress.org/

http://walletgenerator.net/

To ensure maximum security, we recommend that you generate bitcoin paper wallets only with a completely offline computer and then laminate the paper which holds your private and public keys.

Pros

• A bitcoin paper wallet is one of the safest ways to store long-term BTC.
• It is also ideal for gifting bitcoins to anyone as long as the keys are known only to both parties.

Cons

• Failure to properly back up your private keys means funds are lost forever.

How to choose the best Crypto wallet

To choose the best cryptocurrency wallet, you need to consider your exact needs as an investor. For instance, long-term holders with no intention to sell anytime soon are better off with just a paper wallet.

However, if you plan to sell them occasionally, we recommend getting hardware wallets such as Ledger or Trezor. The devices will keep your assets completely offline and are convenient for transferring to exchanges anytime you decide to sell. You can also use them for trading directly on decentralised exchanges that support them.

Traders and other individuals who transact regularly prefer a mobile wallet since it is convenient and secure to the extent they abide by standard security procedures.

In summary, evaluate your needs and then determine whether it will be best for you to stick with one kind of crypto wallet or combine multiple options to ensure maximum comfort and security.

How to get a Bitcoin wallet

Getting started with a Bitcoin wallet can be tricky, especially for first-time users. The steps outlined below reveal what you need to do:

• Download and install your preferred Bitcoin wallet from the provider's official website. (We’ve included links to the recommended Bitcoin wallets for your convenience and security).
• For a paper wallet, download the zip file and follow the instructions to generate your keys with an offline device. Then print your private and public keys using an offline printer and store them securely.
• For online wallets, a 12-word or 24-word passphrase is provided during the initial setup; write them down and keep them safe.
• Confirm your seedphrase and complete the setup process.
• Multi-coin wallets allow you to select other coins to add to your portfolio.

How to keep your cryptocurrency safe

The cryptocurrency industry has a long history of individual and exchange hacks worth billions of Euros. Therefore, each user needs to take appropriate measures to keep their assets as safe as possible.

You can keep your cryptocurrency safe by applying the following measures:

• Never share your private keys or passphrases with anyone; do not store them online.
• Always double-check addresses before confirming transactions. A malware infection could replace copied addresses on your clipboard with that of hackers.
• If possible, do not use an address to receive bitcoins more than once. Generate a new address for each transaction to preserve privacy.
• Do not patronise any site that promises to double your bitcoins or pay outrageous returns on your assets. If it sounds too good to be true, then it’s probably a scam.
• Use strong passwords for your mobile wallets.
• Do not leave large amounts on cryptocurrency exchanges. If you don’t hold the keys, then it’s not your bitcoin.

Conclusion

In this article, we provided a shortlist of the best bitcoin wallets, including some with the support of UK users who want to buy Bitcoin with GBP. We leave it to you to choose which one suits your investment needs and recommend applying the best security standards.

That way, you won’t lose your bitcoins halfway. Also, you will be ready to sell them for way more if outrageous predictions on the price of Bitcoin come true.