BITCOIN EDUCATION

Bitcoin Wallet Trade-offs

Not all wallets are equal. Every choice involves trade-offs between security, privacy, ease of use, and custody. Understand what you're choosing.

Bitcoin wallets compared

Wallet of Satoshi

Custodial Lightning

Simplest Lightning wallet. They hold your keys.

Security3/10

Privacy3/10

Ease of use10/10

Self-custody0/10

Lightning10/10

No KYC4/10

⚡ LightningEasy setupCustodialNot your keys

Best for

Beginners + Lightning payments under $200

Recommended for first-time users. Do NOT store large amounts here.

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Strike

Custodial + Exchange

Best for buying Bitcoin with USD/MXN.

Security4/10

Privacy2/10

Ease of use9/10

Self-custody0/10

Lightning9/10

No KYC0/10

Buy with MXN/USDFull KYC requiredNot your keys

Best for

US & Mexico — fiat on-ramp only

Use to buy sats, then withdraw to self-custody wallet immediately.

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Muun

Self-custody Mobile

Self-custody mobile wallet. Lightning + on-chain. Open source.

Security7/10

Privacy7/10

Ease of use7/10

Self-custody10/10

Lightning7/10

No KYC10/10

Self-custodyNo KYCOpen sourceHigher fees

Best for

Self-custody beginners

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Phoenix Wallet

Self-custody Lightning

Self-custody Lightning with automatic channel management.

Security9/10

Privacy8/10

Ease of use6/10

Self-custody10/10

Lightning10/10

No KYC10/10

True Lightning nodeNo KYCOpen sourceNot for beginners

Best for

Advanced Lightning users

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Coldcard

Hardware Wallet

Most secure Bitcoin hardware wallet. Air-gapped signing.

Security10/10

Privacy10/10

Ease of use3/10

Self-custody10/10

Lightning0/10

No KYC10/10

Air-gappedOpen sourceMaximum securityNo LightningComplex setup

Best for

Large amounts — $1,000+ in Bitcoin

⚠️ Always verify your signing device. Recent incident reported — do your own research.

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Trezor

Hardware Wallet

Popular open-source hardware wallet. Good balance of security and UX.

Security9/10

Privacy9/10

Ease of use6/10

Self-custody10/10

Lightning0/10

No KYC10/10

Self-custodyOpen sourceNo LightningCzech company

Best for

Hardware wallet beginners

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Bitso

Exchange Custodial

Leading Mexican exchange. Not a wallet — a custodial exchange.

Security3/10

Privacy1/10

Ease of use9/10

Self-custody0/10

Lightning0/10

No KYC0/10

Mexican pesosSPEI supportFull KYCNot your keysNo Lightning

Best for

Buying Bitcoin in Mexico ONLY

⚠️ Use only to buy Bitcoin, then immediately withdraw to self-custody wallet.

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Blue Wallet

Self-custody Mobile

Open-source Bitcoin and Lightning wallet.

Security8/10

Privacy8/10

Ease of use7/10

Self-custody10/10

Lightning6/10

No KYC10/10

Self-custodyOpen sourceNo KYCLightning custodial by default

Best for

On-chain self-custody + Lightning

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Full comparison

Side-by-side breakdown of every wallet.

Wallet	Self-custody	KYC	Privacy	Lightning	Seed phrase	Open source	Beginner friendly
Wallet of Satoshi	✗	Partial	✗ Low	✓	✗	✗	✓
Strike	✗	✗ Required	✗ Low	✓	✗	✗	✓
Muun	✓	✓ None	Partial	✓	✓	✓	✓
Phoenix Wallet	✓	✓ None	✓ High	✓	✓	✓	✗
Coldcard	✓	✓ None	✓ High	✗	✓	✓	✗
Trezor	✓	✓ None	✓ High	✗	✓	✓	✓
Bitso	✗	✗ Required	✗ Low	✗	✗	✗	✗
Blue Wallet	✓	✓ None	Partial	Partial	✓	✓	✓

Not sure which to start with?

⚡ Start with Wallet of Satoshi

For Lightning payments on any site, use SATS extension → satuno.com

Custodial, seed phrase, LNURL? Every term is defined in the Bitcoin & sats glossary.