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Non-custodial Bitcoin hot wallets are cryptocurrency wallets where the user has full control over their private keys, as opposed to custodial wallets where the private keys are held by a third-party.
Here are some of the best non-custodial Bitcoin hot wallets available, along with their pros and cons:
Electrum is a lightweight, open-source hot wallet for Bitcoin. It is available for Windows, Mac, Linux, and Android.
Pros: Electrum offers a high level of security, as users can create a seed phrase to back up their wallet and set custom transaction fees. It also allows users to connect to their own full node for added security.
Cons: Electrum is a bit more technical to set up and use compared to other hot wallets. Electrum doesn’t support other cryptocurrencies.
Mycelium is a mobile-based hot wallet for Bitcoin. It is available for Android and iOS.
Pros: Mycelium also offers a high level of security, where users can create a seed phrase to back up their wallet and set custom transaction fees. It allows users to connect to their own full node for added security.
Cons: Mycelium is a hot wallet and therefore is less secure than a hardware wallet. Mycelium also doesn’t support other cryptocurrencies.
Wasabi Wallet is an open-source, non-custodial, privacy-focused hot wallet for Bitcoin. It is available for Windows, Mac and Linux.
Pros: Wasabi Wallet offers a high level of privacy, as it uses CoinJoin to mix transactions, making it difficult to trace Bitcoin transactions. It also allows users to connect to their own full node for added security.
Cons: Wasabi Wallet is also a bit more technical to set up and doesn’t support other cryptocurrencies.
Blue Wallet is a mobile-based, non-custodial hot wallet for Bitcoin and other cryptocurrencies. It is available for iOS and Android.
Pros: Blue Wallet offers a high level of security, as users can create a seed phrase to back up their wallet and set custom transaction fees. It also offers integration with hardware wallets for added security.
Cons: Blue Wallet is less secure than a hardware wallet. It also doesn’t offer the same level of privacy as Wasabi Wallet.
Exodus Wallet is a desktop-based, non-custodial hot wallet for Bitcoin and other cryptocurrencies. It is available for Windows, Mac, and Linux.
Pros: Exodus Wallet has a user-friendly interface and offers a wide range of features. It also offers integration with hardware wallets for added security.
Cons: Exodus Wallet is less secure than a hardware wallet. It also doesn’t offer the same level of privacy as Wasabi or Blue Wallet.
The best non-custodial Bitcoin hot wallet for you will depend on your individual needs and preferences. Electrum, Mycelium, Wasabi Wallet, Blue Wallet and Exodus Wallet are all great options, but you should consider factors such as security, ease of use, privacy and supported cryptocurrencies before making a decision.
Remember that as a non-custodial wallet, you are responsible for securing your own private keys, so it’s essential to keep them safe and make regular backups.
