You must have heard of Bitcoin wallets as a prerequisite for trading or investing Bitcoins. The Bitcoin wallet is essentially a digital wallet designed to store your Bitcoins just like a normal wallet where you store currency notes and coins. While some wallets are designed for storage, some can even allow you to trade Bitcoins through an integrated platform. You must choose a Bitcoin wallet depending on your convenience and security requirements. If you want to buy Bitcoin in Australia, you’ll need to make sure you have a reliable wallet. There are a variety of Bitcoin wallets to select from, including those that are saved on a mobile app, a desktop computer, or even a physical device. Check out this list of bitcoin wallet Australia to start with bitcoin investments in Australia.
Top Bitcoin Wallets for You:
- Coinbase: This is perhaps the easiest way to store, buy, or sell Bitcoins and other cryptos. You can connect this wallet to any bank account and transfer fiat currencies for crypto investment and trade purposes. This wallet provider is highly recommended for newcomers because the interface is easy-to-use and you can access more than 50 tradable cryptos. The newcomers who employ bots to trade can integrate this wallet to store traded Bitcoins. Visit bitcoin lifestyle website to learn about one of the innovative Bitcoin trading apps.
- Robinhood: This is a brokerage platform not technically a wallet but perfect for gaining exposure to cryptos. Users cannot deposit and withdraw from accounts, but Robinhood offers a feature for storing currency and it is an exchange just like Coinbase for buying or selling cryptos. Robinhood is a mobile app first but offers a desktop version too; it is popular because it is free to use. You do not have to pay commissions for trading Bitcoins.
- Trezor: This Bitcoin hardware wallet is known for its high-end security features. This device can store your coins offline and is easy to plug into your smartphone or desktop. It comes with a small screen that lets you manage your connection. Trezor One is a highly secure device with multi-factor authentication, and supports about 1000 cryptos.
- Ledger: This Bitcoin wallet is popular for its durability; both the Ledger Nano S and Ledger Nano X are for storing Bitcoins securely in offline devices. The wallet resembles a USB drive and can be easily plugged into your computer to access your funds. The built-in software lets you check your balance and transact currencies. Both devices make use of a secure chip like a credit card chip. They support multiple currencies and the high-end version has Bluetooth.
- SoFi: This brokerage platform may not technically be a Bitcoin wallet but allows you to get exposure to cryptos. Users cannot withdraw or deposit cryptos from or into their accounts and security features are lacking compared to the other Bitcoin wallets. It supports 6 currencies and you can buy Bitcoins, Litecoin, Ethereum, Ethereum Classic, and Bitcoin Cash. SoFi lets you buy, store, and sell Bitcoins and other crypto coins. It is a good choice for newcomers because advanced users can find its functions limiting.
- Mycelium: This popular Bitcoin wallet has an app for both iOS and Android devices; it is slightly complicated for new users but perfect for crypto enthusiasts. Users preferring features like offline storage, QR-based payment, and private key control, will find it useful. You can use Mycelium for receiving and sending Bitcoins and others through smartphones. Installation is free and security is top-of-the-line.
- Exodus: This software Bitcoin wallet has a mobile app and an appealing interface with many tools for investors. It integrates with the Trezor wallet and can convert Bitcoins and others into portfolios with charts and graphs. Exodus supports more than 125 assets and lets you store or exchange coins from the app or from your desktop. You do not have to create an account; you are provided with private keys for accessing Bitcoins and security tools for keeping them safe.