Best Bitcoin Wallet Ireland – Top 5 Bitcoin Wallets Revealed
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Due to the digital nature of cryptocurrency, the process of storing your holdings is much different from holding other assets. As your crypto investment will be made online, you’ll have to find a safe and reliable Bitcoin wallet to keep your holdings in. This will ensure that your assets are safe from cyberattackers and can be easily accessed when you require them.
In this guide, we discuss the Best Bitcoin Wallet Ireland in detail. We’ll explore the top Irish Bitcoin wallets before walking you through the process of setting up your Bitcoin wallet today – all from the comfort of your own home!
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#1 Bitcoin Wallet Ireland – eToro
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Best Bitcoin Wallet Ireland – Top 5 List
The list below presents the top five Bitcoin wallets in Ireland right now. In the following section, we discuss each of these wallets in detail, ensuring you have all the information you need to make an appropriate choice.
- 1. eToro – Overall Best Bitcoin Wallet in Ireland
- 2. Coinbase – Best Bitcoin Wallet in Ireland for Beginners
- 3. Binance – Best Irish Bitcoin Wallet for Staking
- 4. CoinCorner –Best Bitcoin Wallet Ireland for Sending Bitcoin
- 5. Coinjar – Best Bitcoin Wallet Ireland for Security
67% of retail investor accounts lose money when trading CFDs with this provider.
Best Bitcoin Wallet Ireland 2022 Reviews
When you buy cryptocurrency, one of the key things to research is where you will store your holdings. Bitcoin wallets (or cryptocurrency wallets) are essentially pieces of software that allow you to keep your digital currency safely. These days is an abundance of wallet options to choose from, each with its own features and drawbacks.
To help streamline the decision-making process, found below are our top five Bitcoin wallets right now. By using one of these wallets, your holdings will be safe and accessible whenever you require them.
1. eToro – Overall Best Bitcoin Wallet in Ireland
Our number one pick when it comes to Bitcoin wallets is eToro. As you may be aware, eToro is one of the world’s largest online brokers, boasting over 23 million registered users. Furthermore, as eToro is regulated by the FCA, ASIC, and CySEC, the platform must abide by strict security protocols to protect users.
The great thing about eToro is that all users get access to eToro’s crypto wallet for free. This wallet can store over 120 different crypto assets, such as BTC, ETH, XRP, and more. What’s more, the wallet is regulated by the GFSC and is available on both iOS and Android. You can even exchange one crypto pair for another directly within the wallet – saving you from having to open a brand new position!
In terms of security, eToro’s crypto wallet features an unlosable private key, which is ideal if you were ever to misplace your password. Furthermore, the eToro wallet features several advanced security features, including DDoS protection, standardisation protocols, multi-signature facilities, and more. Finally, eToro’s wallet is completely free to download and use and is accessed using the same credentials as your eToro account.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
2. Coinbase – Best Bitcoin Wallet in Ireland for Beginners
Another great wallet if you are looking to begin investing in cryptocurrency is the one offered by Coinbase. The Coinbase wallet supports over 500 different tokens – and even provides support for NFTs too! Much like eToro’s wallet, you can download the Coinbase wallet on iOS or Android. The great thing is that you don’t need a Coinbase account to use it, as it is accessible to non-users.
In terms of security, the Coinbase wallet is known as a ‘hot wallet’, meaning that it is housed online. Although these wallets are not as safe as ‘cold wallets’, Coinbase does make up for this through some exceptional security features. These include two-factor authentication and multi-signature confirmation. Furthermore, the wallet is non-custodial – meaning that only you have control of your private keys.
Another cool feature of the Coinbase wallet is that it allows you to access decentralised exchanges (DEXs) within the app, meaning you can trade even more exciting altcoins. You can also earn interest on your crypto holdings using certain DeFi apps, with interest rates often much higher than you’d get in a traditional savings account. Finally, the app is entirely free to use and exceptionally user-friendly.
Pros
Cons
at eToro, Ireland’s #1 Broker
67% of retail investor accounts lose money when trading CFDs with this provider.
3. Binance – Best Irish Bitcoin Wallet for Staking
Binance is the world’s largest cryptocurrency exchange, with over $60bn in trading volume in the last 24 hours alone. With Binance, you can trade a huge number of coins and tokens, all for as little as 0.1% commission per trade. Furthermore, Binance offers one of the best Bitcoin wallets in Ireland called the ‘Trust Wallet’, which is used by many users worldwide.
First and foremost, the Trust Wallet is entirely free to use and can be downloaded onto most popular smartphones. The wallet supports over 40 different blockchains, which means that it supports a vast amount of tokens. Sending and receiving these tokens is also easy, as the Trust Wallet features both a private wallet address and a QR code – meaning that you can transfer crypto to your friends with the click of a button!
Trust Wallet allows you to have complete control over your private keys, which is essential when crypto trading. The great thing is that you can also stake your holdings with Trust Wallet, which is when you pledge your tokens to the network to help with validation. This will allow you to generate a return on your investment, which can be pretty high depending on the token. Finally, you can even buy Bitcoin, Ethereum, or other popular cryptos using a credit/debit card directly within the Trust Wallet.
Pros
Cons
at eToro, Ireland’s #1 Broker
67% of retail investor accounts lose money when trading CFDs with this provider.
4. CoinCorner –Best Bitcoin Wallet Ireland for Sending Bitcoin
Another of the best Bitcoin wallets UK is the one offered by CoinCorner. CoinCorner is a UK-based broker that is registered in the Isle of Man. With over 200,000 registered users, CoinCorner aims to appeal to newcomers to the crypto market with its user-friendly interface and simple offering. At present, CoinCorner only offers support for trading Bitcoin, Litecoin, and Ethereum.
In terms of the CoinCorner wallet, all users will be provided one for free when they first sign up. The details on the wallet are pretty vague, with the CoinCorner website not offering much in terms of features and benefits. The CoinCorner wallet is a hot wallet that only allows you to store BTC – it does not support LTC or ETH.
Much like other Bitcoin wallets, you can download the CoinCorner wallet on iOS or Android and access your holdings on the go. You can buy BTC directly within the wallet using a credit/debit card, making it easy to top-up your holdings when the situation arises. Finally, other users can scan the wallet’s QR code to send you BTC, meaning you don’t even need to recite your wallet address every time!
Pros
Cons
at eToro, Ireland’s #1 Broker
67% of retail investor accounts lose money when trading CFDs with this provider.
5. CoinJar – Best Bitcoin Wallet Ireland for Security
CoinJar is one of the best trading platforms Australia and has been around since 2013. With over 400,000 users, CoinJar offers a user-friendly experience and is backed by some of the largest VC firms in the crypto space. CoinJar even offers a two-fold service, with a brokerage element and an exchange element – ensuring it appeals to a broad target audience.
CoinJar offers all users a web-based wallet, meaning you do not have access to your private keys. However, around 90% of customers’ funds are stored offline, meaning it is exceptionally difficult for them to be accessed by cyberattackers. The CoinJar wallet offers support for 17 different cryptocurrencies – and you can even use the CoinJar Swipe card to pay for services using your crypto holdings!
In terms of security, CoinJar’s developers claim to use advanced machine learning techniques to protect users from suspicious activity. Furthermore, users can benefit from two-factor authentication (2FA), data encryption, a unique passcode, and even security audits to ensure the wallet is up to scratch. Finally, the wallet can be downloaded on iOS and Android and is free to use.
Pros
Cons
at eToro, Ireland’s #1 Broker
67% of retail investor accounts lose money when trading CFDs with this provider.
What is a Bitcoin Wallet?
When you invest in Bitcoin (or any other cryptocurrency), you’ll need somewhere to store it. Bitcoin wallets, also referred to as crypto wallets, are special pieces of software that help keep your crypto investments safe and allow you to access them whenever you need them. To do this, crypto wallets house your ‘private key’, which enables you to access your crypto holdings stored on the blockchain.
Your private key is the most crucial element of the crypto wallet, as without it, you won’t be able to access your crypto holdings. There are various types of wallets, such as paper wallets, hardware wallets, and online wallets. Each style comes with its own benefits, but as a rule of thumb, paper wallets are the least safe, whilst hardware wallets are the safest. Hardware wallets are secure because your private key is stored offline in a device that usually looks like a USB. Due to this, it’s extremely difficult for hackers to access a hardware wallet.
Many of the best trading platforms (such as eToro) will offer a free crypto wallet for users to store their holdings. Each platform will have a slightly different offering, but most of them will be web-based wallets. Although these wallets tend to have a lower security level than offline ones, they compensate for this by boosting accessibility and user-friendliness.
How to Choose the Best Bitcoin Wallet?
Now that you have an idea of what a Bitcoin wallet is, let’s turn our attention to how to choose one. When it comes to protecting your holdings, there are multiple factors to consider, with each one having a varying degree of importance. This section discusses these factors in detail, ensuring you know precisely what to look for when choosing a crypto wallet.
Safety Features
Understandably, safety should be your number one priority when choosing a crypto wallet. Whether you’re looking to invest in Ethereum or any other crypto, it’s vital that your wallet can store your holdings safely whilst also remaining accessible. These days, hardware wallets tend to be the safest, as they feature advanced security protocols and store your private keys offline. As such, someone would have to gain physical access to the wallet to obtain your key.
However, many online wallets also offer advanced security features. For example, eToro’s crypto wallet features an unlosable private key, DDoS protection, and encryption. These features combine to ensure your holdings are safe from cyberattackers and remain accessible. Although online wallets will never be entirely foolproof, it’s a good idea to partner with a provider that has a good reputation in the space to be as safe as possible.
Type of Wallet
As we touched on above, the ‘hot vs cold wallet’ debate has been mentioned in the crypto market for years. Hot wallets are always online, meaning they are vulnerable to cyberattacks. However, they allow users to buy and sell crypto from directly within the wallet and tend to be offered within a mobile app. As such, they are much more user-friendly than cold wallets.
On the other hand, cold wallets are physical devices which means that someone would have to gain physical access to the device if they were looking to steal your holdings. Even if they did, the person would still need your PIN or password to get into the wallet – highlighting how secure these devices are. Although cold wallets are less convenient and tend to come at a cost, they are the best option if you want to store large amounts of crypto.
Ease of Use
Finally, the wallet’s user-friendliness and features are also something to consider. These days, crypto wallets are designed to appeal to new and advanced traders alike, meaning that they will often be straightforward to use. Furthermore, it’s essential to look for a wallet that allows you to easily access your holdings if you wish to top up your investment.
Some wallets even come with excellent features, such as the ability to exchange one crypto for another directly within the wallet’s interface. Furthermore, wallets such as CoinJar’s allow users to send and receive crypto using a QR code. Finally, the Coinbase wallet even provides access to decentralised exchanges (DEXs) – and also will enable you to store NFTs!
How to Get Started with a Bitcoin Wallet?
The final section of this best Bitcoin wallet Ireland guide will discuss the process of setting up your wallet. We recommend using eToro for this, as they are one of the best CFD brokers regarding safety and user-friendliness. With that in mind, the five quick steps below will show you how to set up your Bitcoin wallet with eToro and begin trading crypto – in under ten minutes!
Step 1 – Create an eToro Account
Head over to eToro’s website and click ‘Join Now’. Enter a valid email address and decide on a username and a password for your account.
67% of retail investor accounts lose money when trading CFDs with this provider.
Step 2 – Verify your Identity
Before you are allowed to invest in crypto, you’ll have to verify your identity. To do so, head to your eToro dashboard and click ‘Complete Profile’. You’ll then be asked to enter your personal details and upload proof of ID (a copy of your passport or driver’s license) and proof of address (a copy of a bank statement or utility bill). eToro will then verify these documents, which usually only takes a few minutes.
Step 3 – Deposit Funds
New eToro users must deposit a minimum of $50 (€43) to begin trading. If you deposit in a non-USD currency, there will be a small currency conversion fee that you’ll have to pay. In terms of deposit methods, eToro accepts the following:
- Credit Card
- Debit Card
- Bank Transfer
- Rapid Transfer
- PayPal
- Skrill
- Neteller
- Trustly
Step 4 – Download the eToro Crypto Wallet
Head to the App Store or Google Play and search for ‘eToro Money’, which is the name of the app that houses the crypto wallet. Alternatively, you can click the link on eToro’s website – or even scan the handy QR code on your smartphone! Once downloaded, you can log in using your eToro credentials.
Step 5 – Buy Cryptocurrency
Type in the name of your chosen asset in eToro’s search bar (e.g. BTC) and click ‘Trade’. In the order box that appears, enter your desired position size (minimum of $25) and click ‘Open Trade’. Then, in eToro’s dashboard, you can transfer your position to your crypto wallet by viewing the position. It’s important to note that it can take up to five business days to move the position from the eToro trading platform to your crypto wallet.
And that’s it! You’ve officially downloaded the eToro wallet and began trading – all in less than ten minutes!
Best Bitcoin Wallet Ireland – Conclusion
To summarise, this article has discussed the best Bitcoin wallet Ireland in detail, highlighting the top options in the market and their pros and cons. We’ve also discussed what you need to look out for when choosing a Bitcoin wallet and how to get started with one today. Overall, choosing an appropriate crypto wallet is one of the most critical aspects of your trading journey and should be researched accordingly. If you do this, you’ll ensure you can invest confidently, knowing that your holdings are safe.
If you’d like to get started with one of the best Bitcoin wallets in Ireland today, we recommend eToro. eToro is one of the world’s leading online brokers and has over 23 million users worldwide. What’s more, eToro’s wallet incorporates advanced security features and supports over 120 cryptos!
eToro Crypto Wallet – #1 Bitcoin Wallet in Ireland
67% of retail investor accounts lose money when trading CFDs with this provider.
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