Software wallets in comparison - has the BRD wallet had its day?

The Breadwallet (BRD) was our software wallet of choice for some time, which is why we have found it suitable for the short-term storage of cryptocurrencies to date. However, we miss the support of the Lightning network on the one hand, and on the other hand the BRD wallet now belongs to Coinbase, which makes a future integration very likely and could thus exclude non-Coinbase users. Finally, there are great alternatives among the software wallets with better features, a higher security standard and Lightning support. It is precisely in these important points that the BRD wallet has some deficits, which is why we have collected and compared a few wallet alternatives for you here.

Wallet alternatives at a glance

Blue Wallet

https://bluewallet.io/

Blue Wallet was developed in 2017 as the first Bitcoin-only wallet for Apple iOS. The app wallet was expected to support native SegWit and provide individual control over the fees and speed of Bitcoin transactions. Another plus point is the app's largely open-source based development. Blue Wallet is a beginner-friendly, secure and feature-rich software wallet and is available for download free of charge from the App Store and the Google Play Store.

The best features at a glance:

• Multi-Signature Vault
  Security feature where multiple keys are required to perform transactions.
  Best suited for cold storage and large investment amounts.

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• Lightning Wallet
  Support for the Lightning network for even faster and cheaper off-chain Bitcoin transactions

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• Watch-Only Wallet
  Monitor your cold-storage wallets via the Blue Wallet app (e.g. can be used with the Card Wallet).

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• Import of other wallets possible
  Simple import of external wallet data (e.g. Electrum, BRD Wallet) via a smart form
  

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mycelium

https://wallet.mycelium.com/

The development team behind mycelium has existed since 2008 and also develops other crypto-related products apart from the wallet. Mycelium has enjoyed a good reputation in the Bitcoin community since 2012 thanks to its open-source code, security and reliability. However, the most important ERC-20 tokens can also be stored on the mycelium wallet. In addition, there is an integrated peer-to-peer trading portal where mycelium users can sell their Bitcoin among each other. The wallet is available as a free mobile app in the Google Play Store and the App Store, but requires a certain level of know-how to use all the functions.

The best features at a glance:

• Wallet Recovery
  If you lose your device, you have the option of recovering your wallet using a seed phrase.

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• Multi-wallet support
  Offers you the possibility to import other wallets and thus provides a consolidated overview in the mycelium app.

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• Watch-Only Wallet
  Monitor your cold-storage wallets via the mycelium wallet (e.g. can be used with the Card Wallet).

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• Mycelium Local Trader
  Allows you to buy and sell bitcoin securely with other mycelium users in the area.

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Electrum

https://electrum.org/#home

The Electrum Wallet was developed by a German computer scientist in 2011. Thanks to the open-source code, other developers were able to contribute to the development of the wallet and its functions in the years that followed. Like the Blue Wallet, Electrum is a Bitcoin-only wallet with native SegWit support and scores with high security and speed, as the wallet is hosted on its own servers, which index the Bitcoin blockchain. Initially only available as a desktop app (Windows, Linux, MacOS), the wallet can now also be downloaded for free as an Android app from the Google Play Store. The Electrum Wallet also requires a certain amount of know-how.

The best features at a glance:

• Multi-Signature Pass
  Security feature where several keys or wallets are required to carry out transactions.
  

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• No Downtime
  With the help of decentralised servers, Electrum promises full wallet functionality at all times.

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• Watch-Only Wallet
  Monitor your cold-storage wallets via Electrum Wallet (e.g. can be used with Card Wallet).

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• Wallet Recovery
  If you lose your device, you have the option of recovering your wallet using a seed phrase.
  

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We hope this comparison helps you choose the right wallet for your needs. We have found our software favourite: Blue Wallet. The support of the fast and cost-efficient Lightning network clearly sets Blue Wallet apart from the other two. In addition, the app is intuitive and beginner-friendly. As a software wallet, the Bluet Wallet has all the essential security features needed for short- and medium-term bitcoin storage.


Nevertheless, a cold storage solution, such as the Coinfinity Card Wallet, is still the safest form of Bitcoin storage, which is definitely recommended for the long-term storage of larger amounts.