Guide to the best Bitcoin wallets for 2026
Hot or cold, software or hardware—your guide to the best Bitcoin wallet in Canada.
Buying Bitcoin? You’ll need to find a safe and secure wallet to store your crypto. But do you need a hardware or software wallet, should it be custodial or non-custodial, and will you manage your BTC via desktop or mobile?
In this guide, we’ll explore our top pick as the best Bitcoin wallet in Canada, plus explore how to create a Bitcoin wallet and securely store your crypto assets.
The best Bitcoin wallets in Canada
- Best Bitcoin wallet overall: Ledger Nano S Plus Wallet
- Best Bitcoin cold wallet: Ledger Nano X Wallet
- Best Bitcoin wallet for private transactions: Zengo wallet
- Best-designed Bitcoin wallet: Ledger Stax Wallet
- Best Bitcoin wallet for experienced users: Trezor Model T Wallet
- Best for buying Bitcoin: Best Wallet
- Best Bitcoin wallet for beginners: Exodus Wallet
What is a Bitcoin wallet?
A Bitcoin wallet is a physical device or software program used to send, receive and store Bitcoin. But because Bitcoin is digital, your wallet doesn’t hold any physical coins. Instead, it stores the keys you need to send and receive Bitcoin.
There are two key parts of a Bitcoin wallet:
- Your public key. This is a cryptographic code that is your wallet address. It’s kind of like your bank account number — you can share it with other people and it allows you to receive Bitcoin.
- Your private key. Like the PIN or password that provides access to your bank account, a private key lets you access your Bitcoin and send BTC to other wallets. As the name suggests, private keys are meant to be kept private and should not be shared with anyone else.
Your Bitcoin wallet maintains a record of all your Bitcoin transactions, allowing you to track your balance.
What is the best Bitcoin Cash wallet?
The Ledger Nano S Plus, our top pick overall as the best Bitcoin wallet, also supports Bitcoin Cash (BCH). So with the combination of security features and competitive price tag, the Nano S Plus is also our pick as the best Bitcoin Cash wallet.
But it’s not the only wallet in our list that’s worth checking out if you need to store BCH. Other wallets that support BCH include:
- Exodus
- Ledger Nano X
- Ledger Stax
- Trezor Model T
Types of Bitcoin wallets
Let’s take a closer look at how each type of Bitcoin wallet works.
Hardware wallets
Hardware wallets are physical vaults that provide offline storage for your private keys. They connect to your computer or smartphone by USB in most cases, but some also offer Bluetooth and NFC connectivity.
This physical vault is paired with a desktop, mobile or web client that connects to the internet. You can use the software to create Bitcoin transactions, but you can only verify those transactions with your offline private key.
Hardware wallets provide protection against online hacks, so they’re considered the safest crypto storage option. If you need long-term storage, especially for a large amount of Bitcoin, a hardware wallet is generally recommended
Software wallets
Software wallets are desktop and mobile apps, browser extensions and websites. They offer user-friendly interfaces to help you manage your Bitcoin and send and receive transfers.
Software wallets are usually free, and they offer a quicker and more convenient option than hardware wallets. But because they’re connected to the internet, there is a small risk of being exposed to risks like hacking and malware.
Exchange wallets
When you buy crypto on an exchange, you have the option to store it in your exchange wallet. This is a very convenient option and provides quick access to your Bitcoin, which is especially helpful if you need to make frequent trades.
But if you choose this option, the exchange manages your private keys on your behalf. This means putting your funds at risk of hacking attempts and phishing scams, not to mention being misused by the exchange itself.
As a result, exchange wallets are not recommended for long-term storage.
Paper wallets
Another less common option is to use a paper wallet for your Bitcoin. With a paper wallet, you print out your Bitcoin wallet public and private keys onto a physical piece of paper.
This makes them a cheap offline Bitcoin storage alternative to a hardware wallet. However, they also come with the risk of losing your wallet or it becoming physically damaged.
Hot wallets vs cold wallets
There’s another way to differentiate between the different types of Bitcoin wallets: hot wallets vs cold wallets. Hot wallets are connected to the internet, providing quick and easy access to your Bitcoin. Examples of hot wallets include desktop and mobile apps, browser extensions and websites.
Cold wallets are offline, protecting your Bitcoin holdings from online risks like hacking, but are less convenient when you need to perform a transaction. Hardware wallets and paper wallets are types of cold wallets.
Custodial vs non-custodial Bitcoin wallets
It’s also important to know the difference between custodial and non-custodial wallets. With a custodial wallet, such as those commonly offered by cryptocurrency exchanges, your cryptocurrency private keys are managed by a third party. With a non-custodial wallet, you have complete control over your private keys.
Steps for how to create a Bitcoin wallet
Ready to create your Bitcoin wallet? Here’s what you need to do.
First, you’ll need to decide if you want a hardware or software wallet. Hardware wallets are more secure and provide offline storage, but software wallets are more convenient. Find out more about the pros and cons of different wallets in the “Types of Bitcoin wallets” section below.
The next steps you need to take will then depend on the type of wallet you choose.
Hardware wallet
Step 1: Choose a wallet
Compare hardware wallets to find the right storage device for your needs. Purchase the wallet from the official website of the wallet manufacturer or from an authorized reseller.
Step 2: Download the wallet software
You’ll need to download and install the hardware wallet’s compatible software on your computer or mobile device. Depending on the Bitcoin wallet you choose, you’ll then be able to connect it to your computer or smartphone by USB cable, Bluetooth or NFC. Remember to save your recovery phrase.
Step 3: Buy Bitcoin and transfer it to your wallet
Some wallet apps allow you to buy Bitcoin through the app and have it deposited directly into your wallet. But if you buy BTC on an exchange, you’ll need to enter your wallet address to transfer your Bitcoin off the exchange and into your hardware wallet.
Software wallet
Step 1: Download the software
Download and install the wallet software on your device. Many Bitcoin wallets offer both desktop software and mobile apps. Make sure to download your wallet software from the provider’s website or from the official Android and iOS app stores.
Step 2: Sign up
Create an account with your email address and password. Depending on the wallet you choose, you may need to provide your personal details and proof of ID. Make sure to write down your secret recovery phrase.
Step 3: Buy Bitcoin
Some providers allow you to buy Bitcoin directly from your wallet using Canadian dollars. Alternatively, you can create an account on a cryptocurrency exchange to purchase BTC, then copy your software wallet address and transfer the BTC over from your exchange wallet.
How to choose the best Bitcoin wallet
Compare a range of options to find the best Bitcoin wallet for your needs. Take the following factors into account when shopping around.
- Type of wallet: The first thing you need to consider is your number-one priority when storing Bitcoin. If the security of your coins is your top priority, a hardware wallet is the way to go. But if you want quick and easy access to your crypto, a software wallet may be a better choice.
- Security: Check what security features the Bitcoin wallet provides. Does it offer two-factor authentication, multi-sig transactions and end-to-end encryption? Are private keys stored online or offline?
- Ease of use: Regardless of the type of wallet you choose, it should provide a user-friendly interface for managing your Bitcoin holdings. You can download desktop and mobile software and play around with it before depositing any BTC to make sure it’s easy to use, while you can also check out user reviews in Google Play and the App Store.
- Supported cryptocurrencies: Will you only be using your wallet to hold Bitcoin, or will it also be used to store your other crypto assets? Check the wallet’s list of supported coins and tokens before deciding if it’s right for you.
- Reputation and history: How long have the wallet and the company behind it been around for? Has the wallet ever been hacked? Is the wallet regularly being improved and updated? Do your research to find out what sort of reputation the wallet has in the crypto community.
- App features: Check whether you can use the wallet to buy Bitcoin and other cryptocurrencies with Canadian dollars, or swap from one crypto to another. Other features you may want include staking and portfolio tracking tools.
- Cost: If you’re choosing a Bitcoin hardware wallet, the cost of the device will also impact your decision. Compare prices and features to make sure you’re getting value for money.
Can you look up Bitcoin wallets?
Yes, the fact that the blockchain maintains a public record of all Bitcoin transactions means you can look up Bitcoin wallets. If you have a specific wallet address you want to check, you can use a blockchain explorer such as Blockchain.com or BTCScan to look it up. You’ll be able to see details such as the date, time, amount, fee and the recipient’s wallet address for each transaction from that wallet.
Are there any free Bitcoin wallets?
Yes, there are many free Bitcoin hot wallets to choose from. These include desktop and mobile apps as well as browser extensions and online platforms. Of the wallets featured in our list above, Exodus, Best Wallet and Zengo are all free, though Zengo also offers its Pro plan that comes with a monthly or annual fee.
Paper wallets are free too, but hardware wallets come at a cost. Prices for most models range from around $70 to $600.
Which wallets come with Bitcoin wallet apps?
Yes, most Bitcoin wallets have apps. If you choose a software wallet, most providers offer free app downloads from the App Store and Google Play. Most hardware wallets also come with companion apps that provide a user-friendly interface to help you manage your crypto and create transactions.
All of the wallets in our list of the best Bitcoin wallets feature mobile apps. The Ledger Nano S Plus, Nano X and Stax are all compatible with the Ledger Live app.
You can use the app to track your portfolio, buy or swap crypto and create transactions, and those transactions can then be confirmed with your Ledger hardware wallet. Meanwhile, Trezor Model T owners can send, receive, trade and track their crypto on Android devices, but not on iOS phones.
Best Wallet is only available as a mobile Bitcoin wallet, and it’s free to download to Android and iOS devices. And Exodus and Zengo also offer mobile apps, making it easy to manage your BTC with your smartphone.
Is there an anonymous Bitcoin wallet?
There’s a common misconception that Bitcoin is completely anonymous, but it’s actually pseudonymous. This means that Bitcoin transactions aren’t directly linked to your personal details like a bank account transfer, but they’re linked to your wallet address. And all transactions are recorded publicly on the blockchain and can be traced.
But while Bitcoin isn’t anonymous, some wallets are specifically designed to help increase your privacy. For example, Wasabi Wallet uses Coinjoin, a crypto mixing tool that combines transactions from multiple users into one large transaction, making it difficult to trace where coins came from and where they were sent.
Elsewhere, Zengo Pro offers its Private Transaction Mode, generating a new Bitcoin address for every transaction.
You may also want to consider a wallet that doesn’t require you to complete any KYC (Know Your Customer) requirements when signing up, such as Best Wallet.
Is there a way to track a Bitcoin wallet?
Yes. Bitcoin transactions are permanently recorded on the public blockchain and can be traced. You can use a blockchain explorer such as Blockchain.com or BTCScan to enter a specific Bitcoin wallet address and view a history of its transactions.
This allows you to track transactions and the movement of BTC to different wallets, but it’s not possible to identify the person who owns a wallet address using this transaction data alone.
How to send Bitcoin to another wallet
If you want to send Bitcoin to another wallet, you’ll need your recipient’s wallet address. This is a string of 26-35 characters that you can copy and paste into the “Send” field of your wallet, or it may be displayed as a QR code that you can scan to automatically fill the “Send” field with the wallet address.
The exact steps you need to follow to send Bitcoin vary depending on your wallet, but they’ll generally look something like this:
- Open your Bitcoin wallet and tap/click on “Send”.
- Choose Bitcoin as the cryptocurrency you want to transfer.
- Enter the amount of BTC you want to send.
- Enter the wallet address you’re sending BTC to or scan your recipient’s QR code.
- Review the transaction fee. You may be able to adjust the speed with which your transaction will be confirmed — the faster the transaction, the higher the network fee.
- Review all details and confirm the transaction.
Are Bitcoin wallets safe?
Bitcoin hardware wallets are generally considered the safest option for storing Bitcoin. Because they store your private keys offline, they protect your BTC from online risks. So if your main focus is secure, long-term storage for your crypto, a Bitcoin cold wallet is the way to go.
Reputable desktop and mobile wallets also provide a high level of security. They’re convenient too, but you’ll need to maintain the usual security measures (more on them in a minute) to ensure the safety of your BTC.
Make sure you research the reputation and history of a wallet provider, plus check independent customer reviews, to make sure you’re dealing with a trusted brand.
Tips to keep your Bitcoin wallet safe
- Create complex passwords and PINs. Make sure any passwords and PINs you create for your wallet are as secure as possible and aren’t repeated across multiple accounts.
- Set up two-factor authentication. This is a simple but effective way to add an extra layer of security to your Bitcoin wallet.
- Back up your wallet. Make a backup of your wallet and store it in a secure place to ensure you can recover your BTC if something goes wrong.
- Avoid exchange wallets. Don’t store your Bitcoin on a crypto exchange for any longer than necessary. Move it to a wallet that lets you control your private keys as soon as possible.
- Stay updated. Make sure to update to the latest version of your wallet software when it becomes available. The same goes for your antivirus software.
- Avoid public wi-fi. Don’t access your Bitcoin on a public wi-fi network.
Related: Best crypto to buy right now
Bottom line
The best Bitcoin wallet for you will provide the right balance of secure storage, ease and convenience of use, affordability and (potentially) support for other coins and tokens. There are lots of great options to choose from, but we think the Ledger Nano S Plus, with its blend of security and usability, is the best Bitcoin wallet in Canada.
Ultimately, it’s up to you to compare a range of Bitcoin wallets before deciding on the best storage for your BTC.
Frequently asked questions about Bitcoin wallets
Sources
More resources on Finder
More guides on Finder
-
Best wallet review
Best Wallet is a mobile crypto wallet that makes it easy to purchase and store crypto. But its features are still developing.
-
Ledger Wallet: Compare wallets, features and security
Your guide to Ledger crypto wallets, how they work and how to choose a Ledger wallet.
-
Ledger Stax review
Learn how the Ledger Stax stands out compared to previous Ledger hardware wallets.
-
13 best non-custodial wallets in 2026
Our round-up of the best non-custodial crypto wallets and what makes each one stand out.
-
Ledger Nano S Plus review
Learn about the capabilities, benefits and pitfalls of the Ledger Nano S Plus hardware wallet.
-
Trezor vs. Ledger
We compared Trezor and Ledger hardware wallets to see which has the most to offer.
-
9 best cold wallets in Canada
Compare the security, features and capabilities of some of the best crypto cold wallets on the market.
-
Trezor Model T review
See how the Trezor Model T measures up as a crypto hardware wallet.
-
Trezor Model One review
See how the Trezor One compares in the world of crypto hardware wallets.