Bitcoin has proven to be a major disruptive force in the fintech world ever since it was introduced in 2009 by the enigmatic Satoshi Nakamoto. The Bitcoin whitepaper, released in 2009 elucidated for the first time a new kind of monetary policy, which empowers the individuals rather than the banks, corporations, and governments.
Ever since its humble beginnings, Bitcoin has spawned two separate multi-billion dollar industries. One based on the underlying potential of Blockchain technology, and two, an immense new world of cryptocurrencies, with Bitcoin at the center.
However, despite its incredible growth in the crypto world, Bitcoin still hasn’t yet found mainstream adoption by the general public. Part of the reason behind this is a lack of general awareness about cryptocurrencies, while others know about Bitcoin, but believing that the technical barrier to entry is too high for them to get started.
Because of this, dozens of promising wallet developers have stepped up to provide a way for even beginning users to safely store, spend and interact with Bitcoin, without needing to understand the nitty gritty of how it works.
Thankfully, practically everybody has everything necessary to get easily involved in Bitcoin — a mobile device. With iOS being one of the most popular mobile operating systems around, it is only natural that some of the very best beginner friendly Bitcoin wallets are made available to iPhone users.
With that in mind, we will be covering the three best Bitcoin wallets available on iOS, allowing users of all experience levels to get to grips with the promising new cryptocurrency,
ArcBit is one of the most underrated feature rich Bitcoin wallet for iOS devices. It is developed by Timothy Lee, a former engineer at Blockchain.com and launched in June 2015. The wallet currently has a solid 4.4-star average review, and is rapidly gaining popularity among iOS users.
Arcbit is an open source client-side wallet that does not require users to sign up to start using the wallet, this means users can get started with Bitcoin without having to fork over their personal information to do so.
For backup purposes, users need only to save the single master recovery phrase provided when creating their wallet. With that recovery phrase, users can either recover their wallet in ArcBit if they lose their device, or import their Bitcoin wallet into other clients.
ArcBit is also one of the few iOS wallets to allow users to move their funds into offline cold storage wallets, ensuring their BTC is never exposed to the internet and is essentially locked down for storage. In this mode, users will have access to their private keys so they can retrieve their BTC at any time.
Although ArcBit isn’t the most feature-packed wallet, its extremely simple and user-friendly interface makes it an ideal iOS wallet for Bitcoin newbies.
- Support for over 150 different local currencies (localization)
- Import watch-only addresses, BIP38 keys and account keys.
- Option to switch block explorer between Bitpay’s Insight and Blockchain.com
Blockchain Wallet is an open source Bitcoin wallet created by Blockchain.com (previously Blockchain.info). The Blockchain wallet currently sits at an average review of 4.6 stars after receiving thousands of reviews. This is one of the oldest Bitcoin wallets for iOS devices and is currently the most popular Bitcoin iOS wallet.
Blockchain wallet offers several ways to secure your BTC on iOS devices, including two-factor authentication, and TWO passwords, one of which is optional.
When using Blockchain wallet, users can easily import or export their wallets and addresses using their private keys. Beyond this, wallet holders can back up their funds using a 12-word seed phrase, while blockchain.com stores an encrypted backup on their servers to ensure funds can never be lost.
Beyond being a secure way to store Bitcoin on iOS, the Blockchain wallet also enables users to easily store several other cryptocurrencies, including Stellar (XLM), Ethereum (ETH) and Bitcoin Cash (BCH) and more.
- Built and maintained by one of the leading companies in the cryptocurrency space.
- Built-in swap feature to exchange one crypto asset for another.
- QR Code support for easy incoming and outgoing payments.
BitWallet is one of older Bitcoin wallets for IOS devices. Launched over five years ago, BitWallet has been around for a long time, and is widely regarded as one of the best iOS wallets for beginners, thanks to its extremely light and easy to navigate interface. It is developed by Solico Software, a company that has been developing iOS apps for iPhones and iPads for more than a decade.
Like most secure Bitcoin wallets, BitWallet stores all sensitive user data like private keys and wallet files within the user’s device, and does not upload any sensitive data to the cloud or its servers. This feature means your Bitcoin portfolio is protected by the excellent security of your Apple device, which is widely regarded as industry leading.
BitWallet uses AES-256 encrypted passwords to secure access to the wallets, however it does not provide a way to recover your password, so ensure that this is something you will never forget if you choose this wallet.
With BitWallet, users can back up their wallets with BIP39 mnemonic sentences that also function as a recovery method, users can also move their funds into cold storage by producing paper packups, and create watch lists to follow interesting addresses (whale watching anyone?)
- Supports classic wallets as well as BIP32 Hierarchical Deterministic (HD) wallets.
- Allows users to backup wallet data that is encrypted with a password on iCloud.
- Supports a dynamic transaction fee system for fast transaction confirmation.
Image credits: ArcBit, BitWallet, Blockchain Wallet