Many businesses are increasingly accepting crypto payments, and some save part of their fiat earning in crypto. In order to secure cryptocurrencies on their balance sheet, they need secure crypto wallets for business. Here’s our list of some of the best crypto wallets you can use.
Best Crypto Wallet for Business
- Multi-sig (Multisignature) is an important feature for crypto wallets for business because it allows for shared ownership of funds. It requires two or more signatures or private keys to authorize a transaction.
- A good crypto wallet for business should support multiple crypto assets and multiple operating system and apps.
- Sole proprietorship businesses can use crypto wallets without a multi-sig feature. Multi-sig feature, however, enhances the security of your wallet even if you are the sole owner of funds.
| Wallet | Wallet type | Key features | Supported cryptocurrencies | Supported languages |
|---|---|---|---|---|
| BlueWallet | Desktop and mobile wallet (Android and iOS) | ✔ Open source ✔ Multisignature ✔ Multiple wallets ✔ Plausible deniability ✔ Watch-only wallets | Bitcoin | More than 30 languages, including English, Chinese, Japanese, Portuguese, Spanish, Indonesian, Russian, Ukranian, Italian, German, Swedish, Norwegian, French, Danish, and Turkish. |
| Green Wallet | Desktop and mobile wallet (Android and iOS) | ✔ Multisig Shield, ✔ Hardware wallet support ✔ SegWit ✔ API support | BTC, ETH, USDT, USDC, HT, BUSD, etc | Multiple languages available, including Chinese, Dutch, English, French, German, Italian, Japanese, Korean, Russian, Spanish, Ukrainian |
| Electrum | Desktop and mobile wallet (Android) | ✔ Open source ✔ Multisig ✔ Watch-only wallets ✔ Supports hardware wallets and third party plugins | Bitcoin | English |
| Trezor | Hardware wallet | ✔ Supports third party wallets ✔ 2-Factor Authentication ✔ Sign and encrypt with GPG ✔ Password manager | Bitcoin, Ethereum, Litecoin, DASH, Zcash, etc | English, German, Polish, Japanese, Chinese, etc |
| Ledger | Hardware wallet | ✔ Supports staking ✔ Buy crypto with Ledger Live ✔ DeFi support ✔ Supports third-party wallets | Over 1000 cryptos including Bitcoin, Ethereum, USDT and XRP | English, French, Spanish, Turkish, Chinese, German, Japanese |
Contents
What is a Crypto Wallet?
A crypto wallet is an application or device that stores your private keys, allowing you to safely store and access your cryptocurrencies, such as bitcoin. A private key is like a password that gives you access to your funds. A crypto wallet also helps you send, receive and spend crypto safely. Crypto wallets are available in different forms such as hardware wallets Trezor and software wallets like Bluewallet.
A crypto wallet stores the private keys that give you access to your crypto holding. You need to keep your private keys securely. Otherwise, if you lose the keys, you lose your cryptos in the wallet. You can store your keys either in hot (online) or cold storage (offline). Hot wallets are vulnerable to internet hacks. Therefore, the best storage is cold storage using offline devices. One would need physical access to your offline wallet to steal your cryptocurrency.
How Crypto Wallets Work
Crypto wallets don’t hold your crypto, but they give you access to them. Your cryptos are stored in the blockchain and not in the crypto wallet. Essentially, what crypto wallets do is allow you to access your crypto holdings using a private key. Private keys are proof of ownership of crypto. Therefore, if you lose your private keys, you automatically lose your crypto holdings. That is why crypto wallets are important and should be kept safely.
These are the main types of crypto wallets:
- Software wallets. These are crypypto wallets made for desktops or mobile phones (apps).
- Hardware wallets. These are hard drive devices that store private keys. You need to connect them to the computer to access your crypto.
Crypto Wallet for Business all Currencies
When selecting a corporate crypto wallet, you need to find the best providers in the market. You need to consider crypto wallet features, security and supported operating system. The following are some of the best crypto wallets for business.
BlueWallet
BlueWallet is a simple and more versatile corporate crypto wallet for bitcoin. It is available on App Store and Google Play. You can use BlueWallet to receive, send and store bitcoin. BlueWallet allows you to create Multisig Vault. You can easily connect to your cold hardware wallet which has the best multisig vaults, to secure your crypto assets. This means you can create wallets with different keys. BlueWallet also supports the following currencies: USD, AUD, BRL, CAD, CHF, CZK, CNY, EUR, GDP, HRK, INR, JPY, MXN, MYR, and RUB.
BlueWallet supports more than 30 languages, including Chinese, Japanese, Portuguese, Spanish, Indonesian, Russian, Ukranian, Italian, German, Swedish, Norwegian, French, Danish, and Turkish.
BlueWallet Key Features
- Watch-only. The features allow you to keep an eye on your cold storage or paper wallet without touching your private key.
- Plausible deniability. A feature that allows you to define a different password which will decrypt a “fake” wallet set up in any situation where you are forced to disclose your access or for when you don’t want to show your real wallet.
- Batch Transactions. Send multiple transactions in one batch in order to spend fewer fees.
Blockstream Green Wallet
Blockstream Green Wallet is a multi-platform leading bitcoin wallet. It is easy to use and very secure. You can use your keys to spend your funds on apps that support wallet standards. You can secure your wallet with a multi-sig shield, where one key is held on your device and the other one on the server, thereby protecting your wallet with two-factor authentication. Blockstream Green Wallet supports the following coins BTC, ETH, USDT, USDC, HT, BUSD, ZRX.
Blockstream Green Wallet Features
- Hardware wallet. Integration with Blockstream Jade, Ledger, and Trezor.
- Privacy. No documents, personal information, contact details, or KYC required.
- API support. Accessible for developers who want to integrate the wallet with their own applications.
Electrum
Electrum is a secure bitcoin-only best suited for small businesses. It has an easy-to-use interface. It supports secure Lightning payment channels. Furthermore, it is compatible with cold storage hardware wallets. It is possible to create multi-signature wallets, and you can set custom bitcoin transaction fees. Users have complete control over private keys. It is supported on both desktop and mobile. Electrum only supports Bitcoin. It supports cold storage and multi-signature features.
Electrum versions older than 3.3.4 are susceptible to phishing. Do not download Electrum from another source than electrum.org, and learn to verify GPG signatures.
Trezor
Trezor is a cold storage hardware wallet for bitcoin. Trezor supports many coins like Bitcoin, Ethereum, Binance Coin, Tether, USD Tether, Cardano, Dogecoin Ripple, SHIBA INU, etc. It is easy to set up and use and is best suited for beginners. You can purchase and exchange assets and tokens using the Trezor wallet application. It is supported on Windows, macOS, Android, and iOS. You can securely store your business funds on Trezor. You can also transfer large amounts of money using the multi-signature feature.
Ledger
Ledger is a cold storage hardware wallet you can use to store your business funds. Ledger supports the multi-sig feature. Ledger-supported coins include BTC, ETH, XRP, USDT, BCH, DOT, LTC, BNB and EOS. Ledger is available in two versions, Leger Nano X and Ledger Nano S. You can use them to store your business crypto assets offline. You can control your private keys. Both versions work with the Ledger Live application, where you can buy and sell crypto.
Tapsigner
Tapsigner is a Bitcoin wallet that holds your Bitcoin private key. You can sign mobile wallet transactions with just a single tap on your phone. Tapsigner provides a great way to keep your keys separate from your wallets. You can download Tapsigner from Apple Store.
Tapsigner supports a multi-sig co-signing feature. Besides, you can use it with a computer by using a USB NFC card reader and the cktap command line software. Tapsigner pricing starts from $6.99; which is a one-time payment.
Passport Wallet
Passport Wallet is an open-source Bitcoin-only hardware wallet. It supports the multi-signature feature and has a USB-C connector used to power the battery but does not transfer data. It is compatible with BlueWallet, BTCPay, Sparrow, Wasabi, and Electrum. At the time of writing, Passport Wallet was sold at $259.00.
Bitbox Wallet
Bitbox Wallet is an open-source hardware wallet you can use to store and manage cryptocurrencies securely. You can plug it into your computer or smartphone and use it to sign transactions. You can also use it to generate new receiving addresses.
Bitbox Wallet has high privacy and security measures such as secure multi-sig, Tor support, end-to-end encryption between the app and the device. It is compatible with wallets such as Electrum, and MyEtherWallet. Bitbox Wallet supports over 1500 cryptocurrencies such as Bitcoin, Litecoin, Cardano, Ethereum, BAT, and Chainlink.
Coldcard Wallet
Coldcard Wallet is a hardware wallet you can use to store Bitcoin’s private key. It supports Bitcoin only. You can use it to sign transactions offline through air gap mode; meaning you can transact without being connected to the internet.
You can connect your card to a computer using USB or SD cards. Coldcard is compatible with wallets such as Electrum, Sparrow, Specter, BlueWallet, and Wasabi.
Safeguarding Your Assets: Choosing the Best Crypto Wallet for Business
Choosing the best crypto wallet for businesses requires careful consideration of various factors. Security should be a top priority, with emphasis on features like multi-signature authentication and cold storage options.
For businesses dealing with significant volumes of cryptocurrencies, scalability becomes vital, and solutions offering advanced reporting and analytics capabilities can simplify financial management. Ultimately, the best crypto wallet for business will be the one that aligns with the company’s specific needs, offering a secure, user-friendly, and efficient platform to manage their digital assets effectively.
Can a business have a crypto wallet?
Yes, a business can have a crypto wallet. In fact, many businesses are now embracing cryptocurrency and integrating crypto wallets into their financial operations. Having a crypto wallet allows businesses to engage in crypto-related activities, such as accepting cryptocurrency payments, making investments in cryptocurrencies, and securely storing crypto.
Can I set up a crypto wallet for my business?
You can set up a crypto wallet for your business. Many cryptocurrency wallet providers offer solutions specifically designed for businesses.
