Best Bitcoin Wallets in New Zealand (2021)
With a variety of options to choose from, the following is an overview of the best Bitcoin wallets in New Zealand for most crypto investors.
Bitcoin wallets allow you to safely store your digital crypto assets as well as manage them with ease. Whether you’re a seasoned crypto trader or a beginner wanting to invest in cryptocurrencies, Bitcoin wallets are an essential tool to have.
The best Bitcoin wallets in New Zealand and for you will depend on what your purpose and goals are for investing in crypto, and what features will be most suitable for your applications.
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Best Bitcoin Wallets in New Zealand for 2021
With a variety of options to choose from, the following is an overview of the best Bitcoin wallets in New Zealand for most crypto investors in 2021:
- Trezor: Best hardware wallet for overall security.
- Ledger: Best hardware wallet for value.
- Exodus: Best wallet for beginners.
- Coinomi: Best wallet for mobile users.
As we prefaced above, the best Bitcoin wallets for you will depend on what features will be more relevant to your crypto investments goals.
Let’s say you’re a beginner crypto investor in New Zealand, then you want to start with the Exodus wallet due to its relatively user-friendly interface, as well as a variety of features that let you manage your assets easily.
For more advanced crypto investors, perhaps security and safety will be a defining feature for your Bitcoin wallet. In this case, you’ll want to opt for the highly secure hardware wallets from either Ledger or Trezor.
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Trezor: Best Bitcoin hardware wallet for security
When it comes to hardware wallets, Trezor is one of the leading manufacturers in the crypto space. First launched in 2014, Trezor now offers the Model T and the Trezor One – both equipped with industry-leading security features.
Both the Trezor One and Trezor Model T support a massive list of cryptocurrencies. The Model T is their latest model and features a color touchscreen interface for users to authorize crypto transactions.
Additionally, what makes Trezor unique amongst other crypto hardware wallets is their transparency policy where they keep track and publish a list of past security issues of their devices and services.
The list is publicly available on their official website, which includes a detailed description of the issue, its impact on security, as well as the corresponding firmware fixes to resolve the issue.
Check out our unboxing, review, and setup of the Trezor One below:
Looking to buy a Trezor wallet? Click here to shop the Trezor collection.
Ledger: Best Bitcoin hardware wallet for value
Another excellent option for crypto hardware wallets is Ledger. They’ve been at the forefront of crypto storage, with their Ledger Nano S being the first crypto hardware wallet ever made.
Since then, they’ve launched the new Ledger Nano X which is set to be the next generation of their highly secure crypto hardware wallets that comes with Bluetooth connectivity for managing your crypto assets on-the-go.
Ledger crypto wallets incorporate sophisticated security features such as a custom OS running their devices and a certified security chip for an additional layer of security. Their compact physical constructions also enhanced with a stainless steel cover for added durability.
Currently, Ledger offers two crypto hardware wallets, the Ledger Nano S and the Ledger Nano X. The main differences between the two are as follows:
- Capacity: Ledger Nano S supports up to 20 apps, whereas the Ledger Nano X supports up to 100 apps.
- Display size: The Ledger Nano S has a 128 x 32 pixel display vs. the larger 128 x 64 display of the Ledger Nano X.
- Connectivity: The new Ledger Nano X supports Bluetooth with its Ledger Live software for on-the-go crypto management.
Additionally, the Ledger Nano X now also features a USB Type-C port for universal compatibility and is also the only Ledger device with a built-in battery for its Bluetooth functionality.
With that said, check out our unboxing, review, and setup of the Ledger Nano X below!
Interested in the Ledger? Click here to shop the Ledger collection.
Exodus: Best Bitcoin wallet for beginners
Exodus is a well-regarded software Bitcoin wallet that supports a large range of cryptocurrencies such as Ethereum, XRP, Litecoin, Monero, and many more.
Their wallets are cross-platform compatible, meaning you can access your crypto assets on your mobile device and also on your computer. This accessibility and ease of use make it an excellent option for beginners just getting into the crypto world.
Learn more: Read our review of the Exodus wallet.
Coinomi: Best Bitcoin wallet for mobile users
Coinomi was founded in 2014 and is another excellent software Bitcoin wallet with multi-currency support for both mobile and desktop. It holds the reputation for being the oldest multi-chain wallet available with millions of active users.
Coinomi offers native support for more than 125 blockchains and thousands of other tokens and digital assets. Their official website also claims an impressive record of no compromises for their wallet to date.
Bitcoin wallet fundamentals
Now that you’ve got an idea of the potential best Bitcoin wallet options in New Zealand, let’s briefly go over the fundamentals of a Bitcoin wallet.
At the core, Bitcoin wallets are made up of two parts: a public and private key.
What is a Public Key?
Your public key is the address that you can give to people who want to send Bitcoin to you. Otherwise known as your wallet address, this works very similar to how a bank account number works.
What is a Private Key?
Your private key is like the password to your wallet, and you are required to use it to sign off outgoing payments when sending Bitcoin out of your wallet to another wallet. Most wallets that we detail below will sign off outbound transactions using your private key automatically.
Every crypto investor understands the importance of safekeeping their Bitcoins. In this article, we’ll be going over the different crypto wallet options available to secure your digital crypto assets.
Software wallets, or hot wallets, are wallets that store your digital crypto assets on your internet-connected devices, such as your mobile phone, tablets, or computers.
These wallets are usually the best choices for beginners due to their user-friendly design and accessibility, while also providing a secure place to store their crypto. Software Bitcoin wallets can be easily downloaded from their official websites or on the app store of your supported devices.
Hardware wallets, or cold wallets, are widely known as the apex of crypto wallets. These wallets are fundamentally more secure than software wallets due to the addition of an offline physical device that acts as a medium for you to verify transactions with. This means you have total control of your private keys at all times.
When it comes to security, hardware wallets are hard to beat. It’s one of the reasons why hardware wallets are considered to be the best Bitcoin wallets in New Zealand.
These wallets are designed to protect your digital assets with industry-leading encryption, with security in mind, and thus feature cutting-edge safety measures engineered to protect your digital crypto assets.
Learn more: Click here for our complete guide on Bitcoin wallets.
Safety tips for Bitcoin wallets
Whichever Bitcoin wallet you choose in New Zealand, it’s important to keep in mind the following safety principles to ensure your crypto assets are safe:
- Verify your transactions by double-checking the receiving address and payment information that is displayed on your hardware wallets.
- Safe storage of your recovery phrase and do not share it in any form, with anyone.
- Routine backups of your wallet.
- Buy from a trusted exchange or directly from the manufacturer.
And with that said we hope this article has been useful to help you narrow down your choices for the best Bitcoin wallets in New Zealand.
Make sure to keep in mind the safety tips we mentioned to ensure your crypto assets are as safe as possible.
More on security: Read our tip to improve the safety of your crypto assets.