Best Bitcoin Wallets of 2023

Why We Chose It

Electrum is a highly secure Bitcoin-only wallet with specialized features such as speed, security, decentralization, and multi-signature access. It suits the needs of a wide spectrum of users, making it our top choice for advanced Bitcoin users.

Pros & Cons

Overview

Electrum wallet supports only Bitcoin transactions and boasts advanced security features, making it suitable for advanced Bitcoin users. Created by Thomas Voegtling and launched in 2011, Electrum is headquartered in Berlin, Germany. 

Despite being one of the oldest wallets, it is being updated regularly. The wallet supports the Bitcoin Lightning Network, enabling cheaper and faster transactions.

Electrum has customizable features that enable users to switch between the original Bitcoin blockchain and the Lighting Network. Users also have access to flexible security features such as a recovery phrase, cold storage, two-factor authentication, creating a multi-signature wallet, etc.

A drawback of the Electrum wallet is that it supports only Bitcoin, making it unsuitable for investors with diverse portfolios. Its complex user interface makes it suitable for only those with advanced crypto skills.