Best Bitcoin SV Wallets: Top 6 Safest Places to Store BSV
Bitcoin SV (Bitcoin Satoshi's Vision or BSV) is the most well-known fork of the Bitcoin Cash network that happened in November of 2018.
Development of the project was taken on by the nChain development company. It was also financially backed by CoinGeek mining in its early days. Since the hardfork, Bitcoin SV has reached the top 10 in market cap and has an active community.
So, there is a need for safe and secure BSV storage.
In this post, I will give you the seven best Bitcoin SV wallets as well as some top tips when it comes to securely storing BSV.
Top 6 Bitcoin SV Wallets
Given that Bitcoin SV is a fork of Bitcoin Cash which is itself a fork of Bitcoin, there were quite a few wallets that were easily adapted from their Bitcoin code base. There are also a host of third-party multicurrency wallets that offer support for Bitcoin SV.
Our selection of the "best" wallet is based on factors such as security, usability, active development and community support. While there may be other wallets that support it, you have to make sure that they meet these criteria.
With that out of the way, here are the top seven Bitcoin SV wallets.
1. Electrum SV (Desktop Wallet)
ElectrumSV fork of the well known Bitcoin Electrum wallet. Electrum was started back in 2011 by Thomas Voegtlin and it is is one of the most widely used Bitcoin Wallets.
This is a Hierarchical Deterministic (HD) Wallet which means that it automatically creates a hierarchical structure of private / public addresses.
What does this mean?
Basically, it means that if you wanted to use a new public address to receive your Bitcoin SV then you can use one standard master seed to generate it. You do not need to create a new private / public key combination.
Still hold your pre November 2018 Bitcoin Cash?
Then you can use the ElectrumSV coin splitting function. This will allow you to safely split the BSV from the original Bitcoin Cash chain. You can read this handy guide that was drawn up by them.
Open Source 👨💻: This is something that we really love about the Electrum. When a wallet is open source, you can make sure that the code is 100% safe. You can view the code here.
We all know that hardware wallets are some of the most secure storage options on the market. With this support, it means that you can keep your keys on these devices and use the ElectrumSV program to manage your coins - safely and securely.
Currently, the ElectrumSV wallet is only available on Desktop wallet. You can download it on Windows, MacOS and Linux.
2. Exodus (Desktop & Mobile)
Exodus is a third-party multicurrency wallet that has support for Bitcoin SV. This is great as it means that you can store your BSV together with all your other cryptocurrency assets.
Exodus has been around since 2016 and has quite a good track record in the cryptocurrency community. It was built by two well known open source developers and has not experienced any attacks or hacks.
Closed Source 🔒: Unlike Electrum, Exodus is not open source. However, it was built from a number of different open source libraries and there are certain extensions that are open source. You can see their GitHub here.
Unlike the ElectrumSV wallet above, the Exodus wallet also has support for mobile devices. This means that it could be a neat alternative for those users who have to access their BSV on the go.
It is supported on both Apple iTunes as well as on Android. The mobile versions support less coins than the desktop although they both can be used with BitcoinSV. The ratings in both app stores were overwhelmingly positive.
Something else that you will appreciate about the Exodus wallet is the inbuilt exchange function. Through the use of a Shapeshift integration, you can easily switch your BSV into other coins / tokens and vice versa.
The Desktop wallet is pretty easy to use and is well laid out and intuitive. You can easily monitor your portfolio, track your transactions / addresses and backup your wallet. Exodus has support for Windows, Mac and Linux devices.
Finally, you will be happy to know that Exodus also has support for Trezor devices. This basically means that you can store your Bitcoin SV private keys on your Trezor and then use the Exodus wallet as the "client" of choice. You can see more about how to do that here.
3. Coinomi (Mobile & Desktop Wallet)
Coinomi is another multicurrency third party wallet that was one of the first having launched in 2014. It has support for over 380 tokens and coins.
One of the main benefits of Coinomi is the privacy that the wallet provides. When you are sending BSV using the wallet, it hides the IP address that you are using to connect to their servers.
There is also the exchange feature. They have integrations with both Changelly and Shapeshift which means that you can swap your Bitcoin SV for other cryptocurrency.
This is also a multi-device wallet with the reviews for the wallet in both the iTunes store as well as Google Play quite positive.
The user interface on the Desktop application is also quite intuitive and easy to navigate. You have quick and easy access to all of your coins and you can jump between the wallet's numerous functions. The wallet is supported on MacOS, Linux and Windows.
The one drawback of the Coinomi wallet is that it is not open source. This means that you cannot observe the code and make sure that it is 100% above board. However, there have not been any incidents for the wallet in its five year history.
4. CentBee (Mobile Wallet)
Like ElectrumSV, the Centbee wallet was designed exclusively for Bitcoin SV. It is a mobile only wallet that is trying to take BSV to the masses with quick and easy payments.
CentBee has some powerful support as well as they are backed by Ayre Ventures and CoinGeek (same companies that backed Bitcoin SV). This has no doubt helped with the development of the wallet.
One of the main features of the Centbee wallet is its functionality and ease of use. You can easily send BSV to friends and family with relatively minimal cost.
Merchant Adoption 💸: Centbee is also trying to increase merchant adoption of Bitcoin SV. This is through their "ScanPay" global payment system. Once this is launched it will make it easier to make BSV payments at point of sale and online.
One downside of the wallet though is that it is not open source so you cannot verify the code. However, given the fact that it has quite reputable founders and backers, it is unlikely to be dishonest - although protection against hackers not certain.
5. Edge Wallet (Mobile)
Edge Wallet is another mobile only cryptocurrency wallet. Unlike the Centbee though, the Edge Wallet is a multicurrency wallet which means that in addition to BSV, you can store a further 21 different coins / tokens.
Edge Wallet was first established back in 2014 but used to be called Airbitz. It took on its new moniker in February of 2018.
When it comes to usability, the Edge Wallet has been designed to be incredibly intuitive. You can easily send / receive transactions and view your main portfolio.
Like many of the other wallets above, there is also an exchange function where you can swap your Bitcoin SV for any of the other supported coins. You can also use your fiat to buy coins with this in-built feature.
Password Recovery 🔓: The Edge Wallet has a unique way for you to recover your password should it be lost. Instead of seed words, you can use two security questions as well as your email address to recover it. Make sure that these are unique though.
The Edge Wallet is available on both iOS and Android and there appears to be pretty reasonable reviews for the apps in both of their respective stores (4.1 starts and 4.0 stars respectively).
Something that the security conscious among will appreciate is that the wallet is fully open source. This means that you can head on over to their GitHub and make sure that the code is clean and secure.
6. Guarda Wallet (Multiple Devices)
We cannot give a list of third-party wallets without mentioning the Guarda Wallet. Like the other wallets above, it supports a plethora of coins / tokens.
The Guarda company is based in Estonia and they are developing a host of related products. They also have a licence in the country to operate a crypto exchange business with FIU license (reg. FVR000109).
In addition to support for Bitcoin SV, the Guarda can store up to 10k tokens from 40+ chains. You can see the full list of all the coins here.
Like all of the other 3rd party wallets above, you have an in-built exchange function where you can swap your Bitcoin SV for other coins or fiat. You can even use their fiat exchange to buy BSV right on the wallet.
There are a range of devices that you can use the Guarda wallet on. They have a web-wallet, a desktop wallet (Windows, Mac & Linux), mobile wallets (iOS and Android) and even a chrome extension.
Note ✍️: Web wallets are not the safest of wallets to use. This is on account of the risk of phishing by hackers. Rather opt for one of the other wallets above.
The best feedback that the Guarda wallet has been getting from the Bitcoin SV community is their level of customer support. Indeed, on all of the app stores as well as online forums, they have been helpful and engaging with the users.
Finally, the Guarda wallet is open source. So, like some of the other wallets above, this will allow you to dive into their code base and make sure that you are happy with it.
There you have it, the top 6 best places to store your Bitcoin SV.
At the end of the day, the wallet that you do decide to use will depend on your own individual preferences and use-cases.
The best option from a security standpoint is to use a hardware wallet such as Ledger or Trezor in conjunction with either the ElectrumSV or the Exodus wallet. This will keep your keys in a cold storage environment.
Of course, this does require a bit of a unique setup and may not be for everyone.
Alternatively, you could opt for the safe and secure options provided by Exodus as a standalone solution or any of the other 3 different multi-currency third party wallets.
Irrespective of which BSV wallet you do decide to go with, you should make sure that you follow wallet security 101. Make backups of keys, don't download malicious files, avoid knock off wallets.
And, most importantly, avoid telling anyone of your crypto holdings...
If you are a fan of Bitcoin Satoshi's Vision, then be like Satoshi and HODL your coins in secret!
Best Places to buy BSV
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.