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November 24, 2020
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4 recommended Bitcoin software wallets for 2020. Analysis for the Bitcoin community in Poland

What wallet Bitcoin to choose With the increasing popularity of the oldest kryptowaluty, the number of people looking for a suitable wallet for storage is growing BTC. The software wallets discussed later in the text are recommended by our portal for both new and experienced users.

We only analyzed software portfolios. As the oldest industry portal in Poland, we recommend hardware wallets such as Trezor and any breeder Ledger. They are the safest.

The order of the presented Bitcoin wallets is random.

Bitcoin Core

Undoubtedly one of the best Bitcoin wallets on the market today. Bitcoin Core (BC) is a desktop wallet, you can download and install it directly on your PC. The application was written in C ++ and is fully Open-Source. Everyone has access to the BC source code, which increases its transparency and makes it fully auditable.


Bitcoin Core wallet has built-in testnet. The presence of the testnet network in the Bitcoin wallet is important from the point of view of any user with a larger amount of BTC. Why Because having a large amount of Bitcoins with it you can carry out test transactions outside the main network (MainNet), Without fear of losing funds. In addition, this functionality helps you get used to other wallet functions.

BC is fully free. As the only Bitcoin wallet, of all discussed in this article is a node (node). What does it mean ? Well, keep in mind that a node that is not yours manages your interactions with the Bitcoin network and can store and analyze information and history of your addresses.

Another important functionality of Bitcoin Core is integration with the TOR network. Especially desirable for users who value their anonymity and security.

Backup private keys is stored in a file wallet.dat.

The Bitcoin Core wallet is fully integrated with the most popular hardware wallets such as:

  • Ledger
  • trezor
  • KeepKey
  • Box made
  • Coldcard

Scheme with multiple signatures (multi-signature) enables safer access control to Bitcoins by sharing access to it. The user can decide on the total number of signatures included in the scheme and the number of signatures needed to gain access.

The Bitcoin Core application is password protected.

When it comes to integration with SegWit, the Bitcoin Core wallet supports Bech32 addresses, those that start with the characters “bc1”. Bech32 addresses are more efficient in terms of the size they take in a single block, which means that the transaction fees paid are lower. We strongly recommend this address format. Some wallets do not support this format because they were against the implementation of SegWit.

In addition to the Bech32 addresses mentioned above, Bitcoin Core supports:

  • Legacy (first ever Bitcoin wallet address type, starting with “1”)
  • P2SH (Nested SegWit, address starting with the number “3”)

Bitcoin Core allows group transactions thanks to the method “Batch spending”. In total, many Bitcoin transactions in one are cheaper (reduced fees) because, as a whole, they collect less space in the block.

Type Legacy vbytes P2SH-wrapped
segwit vbytes
Single signature 226 167 26%
2-of-2 multisign 335 197 41%
2-of-3 multisign 369 206 44%

Replace by Fee RBF for short, is another important function that allows you to conclude transactions with any amount of the fee. If you don’t care about the time of the transaction, you can pay a smaller fee, but be careful. If the transaction has a low fee, no miner will want to process it. Of course, you can update your transaction with a higher fee to be included in the block faster.

Bitcoin Core wallet supports partially signed PSBT (Partially Signed Bitcoin Transactions) transactions. By adding further requirements to the generated PSBT transaction, you cannot start the transmission until all the required conditions agreed between several Bitcoin wallets are met. Information about such a transaction is collected as a file, which then verifies it. Simply put, if we conclude a contract between 3 portfolios (where 2 are needed for validation) for our contract to end up in the network, we need one more signature from two validators.

With more advanced features, Bitcoin Core enables displaying individual coinsthat make up the total balance of the specified portfolio. Single coins display, is a very important function in managing UTXOs.

The last known bug / vulnerability in the wallet has been published 11/08/2019

The current version of Bitcoin Core is:

The process of installing and configuring the Bitcoin Core wallet can be found on our portal at this address.


Another recommendable proposition Bitcoin wallet for 2020 is Electrum. The latest version of this portfolio was released on November 7, 2019. Unlike Bitcoin Core, Electrum is also available in the Android version.


The application was written in Python. Like Bitcoin Core, it is completely free and has its own testnet network.

Unlike BC, Electrum is not a node. Uses Stratum protocol and is considered to be SPV wallet, but requires an Electrum server infrastructure that is different from other SPV wallets. This means that you need to trust third parties only slightly when verifying payments.

The Bitcoin Electrum wallet does not connect directly through the node to the Bitcoin network. It is SPV walletthat requires a connection to the backend server. The SPV infrastructure allows you to check if a transaction is contained in a Bitcoin block chain, without downloading the entire chain. The SPV client only needs to download block headers that are much smaller than full blocks.

There are many implementations of the Electrum server on the network that enable users launching your own server. This solution bypasses the use of the Electrum server (more decentralized solution). The most popular of them are:

The user can connect to the node by starting the Electrum server, which gets connected to the Bitcoin node via the RPC interface.

Unlike Bitcoin Core, Electrum creates private key backup using 12 words (mnemonic phrase). It is worth noting that the application forces the user to create a backup.

An additional layer of entropy private key is passphrase. This function has been discussed in detail in our website.

Electrum also offers security in the form of 2FA. The service provider is TrustedCoin, i.e. an external operator.

Access to the wallet secures password.

Electrum displays the value of Bitcoins converted to FIAT currencies. This is a convenient feature that helps you evaluate value of accumulated funds in real time. However, please note that it requires communication with an external server.

When it comes to the type of BTC addresses supported, the Electrum wallet is no different from Bitcoin Core in this respect. There are more similarities, both wallets have such functionalities as:

  • batch spending
  • Replace by Fee (explanation: see Bitcoin Core)
  • PSBT (Partially Signed Bitcoin Transactions, explanation: see Bitcoin Core)
  • Coin Control (UTXO management)
  • signing messages / signing verification
  • only for Bitcoin

Electrum supports “dark mode”.

The latest version 3.3.8 was released on 7/11/2019.

In the past, Electrum has suffered several mishaps related to the security of funds. The latest known vulnerability has exposed Electrum’s vulnerability to type attacks “Server phishing”.


Blockstream Green is recommended for users who value it mobility and security. For now, the wallet is available only for mobile devices (developers work on the desktop version) and supports systems such as: iOS and Android.

GitHub Android

GitHub iOS

The application was written in two languages: Java / Swift. It is completely free and like the aforementioned wallets, it has a test environment.

Green works in two modes. Standard is API, SPV mode should be enabled in the settings. In SPV mode, Green connects to backend server. The source code of the Backend server it is using Green is open source. Open programming code allows you to customize the portfolio to individual needs.

Privacy protects Tor network.

Private key backup is created with the help of mnenonic phrase. Unlike Electrum, where we create backups from 12 words, we use Green in the wallet 24 words. Backup is forced by wallet.

Unfortunately, Green does not have additional security for private keys such as passphrase.

Blockstream Green, can be successfully integrated into hardware wallets.

In some ways, Green is unique because it automatically creates a type 2 with 2 signature with a parameter nLockTime. It specifies the minimum time (shown in Unix time or block height) before which the transaction cannot be accepted in the block.

Green uses the benefits offered by SegWit (supports addresses in P2SH format).

As for the cons, they are cosmetic and for most users (beginners) they will not matter much. These include:

  • no Bech32 support (P2SH transactions are slightly more expensive than Bech32)
  • the transaction grouping function (Batch spending) is not implemented
  • Inability to create multiple BTC addresses (this drawback to some extent compensates for the possibility of creating multiple profiles in one wallet)

Unlike BC and Electrum wallets, Green gives you the opportunity storing other cryptocurrencies as well, compatible with Liquid Network e.g. Tether or tokens HUNDRED.


Personally, I’m not a big fan of mobile wallets Blue Wallet I can recommend to everyone. This is one of the best Bitcoin wallets, his UX is at a very high level. The developers of the Blue portfolio have provided us with a product with intuitive, almost natural service.

You can install Blue Wallet on both Android and iOS. It is completely open-source, code available for viewing on github. Unlike the other portfolios discussed in this article, Blue was written in ReactJS, very pleasant from the point of view of use, javascript library for creating advanced and interactive UI.

Certainly, no test environment (testnetu) can be classified as minuses. As SPV wallet, Blue connects to the Electrum server. Another drawback is no integration with Tor network.

He compensates for these two shortcomings staff Lightning Network. By starting the Electrum server, which connects to the Bitcoin node via the RPC interface, the user has the ability to connect to your own node. Lightning Network requires users to have their own LN nodes (in addition to their own Bitcoin node), open and manage channels with other nodes (this creates a network), maintain fluidity (both inbound and outbound) in the channels, and basically do the hard work ” node operator “. This is the cost of independence from financial institutions.

Access to the Lightning Network is possible via LNDhub. Although Blue Wallet can be used for BTC micropayments, I personally prefer to use dedicated LN wallets for this purpose, such as Phoenix.

Private key backup we make with the help of 24 words. The outer layer of the wallet is protected by a password.

One of the custom Bitcoin functionalities offered by Blue Wallet is CPFP (Child Pays For Parent). Most of you know how CPFP works, for those who do not yet know I will use a simple example. Let’s assume that you have received Bitcoin transactions, because of too low a fee (fees for miners) it has the status of unconfirmed for several days. In this situation, you have to spend the transaction, while paying a high fee (preferably twice as high). Because miners must confirm the first transaction to charge a fee for the second transaction, they will “mine” both simultaneously (if they have the CPFP patch).

Bitcoin Blue Wallet wallet supports both Bech32 and P2SH addresses.

Thanks to direct integration with Bitrefill you can from the wallet level buy mobile top-ups by paying with Bitcoins.

Of course, as with any decent wallet, Blue Wallet gives you the opportunity importing and exporting private keys.


All BTC wallets listed in this article are recommendable. When choosing your Bitcoin wallet for 2020, each of you should try a few of them. Hardware wallets remain the safest wallets.

Official wallet pages:

Bitcoin Core




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