The concept behind a bitcoin wallet is simple. It stores public and private cryptocurrency keys. These are used to perform transactions when the bitcoin owner feels their investment has reached the right price. While there are plenty of wallets out there, here are eight of the most popular.

1. CoinKite

The CoinKite crypto wallet looks like a small calculator. It handles only bitcoins but is compatible with other wallets on the market. It's also the only hardware-based wallet that doesn't have to be connected to a computer to perform transactions.

Among its benefits is a physical security system that uses seed words. It also features a full-sized numerical keyboard to enter PIN codes without errors.

2. OPOLO

The bitcoin wallet made by OPOLO is for users of Android devices. It's a proprietary piece of hardware with a three-inch-wide touch screen. Among its benefits are anti-theft protection, encryption via a USB connection, and quick backup & recovery of crypto data. The OPOLO is one of the first wallets digitally audited for Internet of Things (IoT) Secure Certification.

3. Shift

The Shift Crypto Wallet, also known as the BitBox02, is designed for bitcoin beginners. While it only stores bitcoin information in its hardware, it accepts 1500+ forms of it across the globe. It's also paired with the BitBox app, which is an all-in-one solution to securely store your cryptocurrency.

4. Wasabi

The bitcoin wallet made by Wasabi features open-source, non-custodial storage. In other words, users can suggest changes to the application. Furthermore, users have full control of their funds and their encrypted private keys. The software-based wallet is available for Windows, Apple, and Linux systems.

5. Cobo

Cobo is another online bitcoin wallet. As Asia Pacific's largest cryptocurrency owner, it's available for iOS and Android devices. Among its advantages is multi- factor authentication (MFA) for added security. Wallet users have the power to make free instant transfers with other Cobo customers.

6. Exodus

The Exodus desktop and mobile wallet has several advantages for beginners. Most important is the application is free as is cloud storage. Plus, it supports a huge group of cryptocurrencies. These plusses far outweigh the fact that it's not an open-source application.

7. Electrum

Electrum is one of the first open-source bitcoin wallets released. Like the one from Exodus, both the purchase cost and cloud storage is free. On top of this, the Electrum wallet has a higher level of security than other apps. Though it only supports bitcoin, the ability to customize transaction fees makes it a great tool for advanced investors.

.8 Ledger

Ledger's bitcoin wallet has an affordable entry point into the world of cryptocurrency. One of the first hardware wallets on the market, it's compatible with over 1800+ crypto forms. At under $60 as of this writing, the price is well- below other devices. Plus, with open-source software and powerful security, there's a good return on investment for the Ledger.