Bitcoin wallets let you store, transact and participate in the decentralized cryptocurrency economy.
Why we chose this – Electrum wallet is my choice when it comes to storing Bitcoin because it's one of the simplest and most secure solutions available today. This lightweight wallet can look a bit clumpy but in fact, it's one of the most powerful wallets for managing your coins. Not only can you perform all of the advanced multi-signature setups, and move your coins offline, but you can also connect to all of the regular hardware wallets if you so choose.
How they could improve – In our opinion, Electrum could improve in terms of it's Lightning Network capabilities, and this is something already under development.
Competition: – At the time of writing, there aren't that many lightweight wallets, which provide secure and seamless setups. So therefore competition isn't a question of today.
Why we chose this – Wasabi is the original Bitcoin CoinJoin wallet. Meaning It's not necessarily designed for holding your coins, but to anonymize your Bitcoin UTXO:s. And therefore a must-have wallet for anyone who cares about security and takes their privacy seriously.
How they could improve – Wasabi is a pretty damn good build, with its coin control capabilities, and the rest of the features. But to come up with something, It would be amazing if the wallet was capable of doing unlimited remixes for free.
Competition: – The only competitor at the time of writing is the Samourai wallet, however as it's basically mobile-based, there isn't direct competition available.
Why we chose this – Samourai Bitcoin mobile wallet is the only true cypherpunk wallet that exists today for smartphones, it is designed from the group up to be as convenient as possible yet to also provide the necessary tools for privacy and security.
How they could improve – The downside of Samourai is in its design, to actually achieve the most private experience possible, one has to run their own Dojo Server.
Competition: – Samourai was the first to achieve a mobile-friendly truly trustless & private setup. And at the time of writing, there is no competition when it comes to that.
Why we chose this – Cobo Vault is the most secure hardware wallet that exists today. This is because it's the first, and only 100% offline and air-gapped hardware wallet.
Meaning it cannot be connected with any other devices or machines through USB nor using wireless technologies such as WIFI, Bluetooth, or NFC at any point in time.
And Instead, it uses its camera as the only connection to the outside world by taking pictures of the QR codes to sign cryptographically verified multi-signature transactions.
How they could improve – Cobo Vault has a huge roadmap of improvements coming on the way, such as the cypherpunk version that allows people to upload their own firmware.
Competition: – In terms of competitors, Cobo Vault is already miles ahead of them, and it's very hard to think of anything meaningful.
Note: Cobo Vault can be combined with multiple wallets, including Electrum, and Wasabi in order to securely create multi-signature transactions!