Who needs a financial analysis when you know exactly where to put your money (or digital assets)… Oops, did I type that loud? Similar to adding Mont Blanc wallet that suits your style to cart, picking the best crypto wallet is highly reliant on your specific needs and your thoughts whether on security or convenience and hardware or software. No worries, we will help to discover the best cryptocurrency wallets for you.
Wanna scan my wallet, and see if you like me more?
Each wallet has pros and cons, and different wallets are designed with diverse features to unravel a variety of problems. First, let’s discuss the types of wallets and why you might wish to use one kind over another.
Hardware wallets add another layer of security by keeping your private key on a USB stick or specially designed piece of hardware. They allow users to plug the USB stick into any computer, log in, transact and unplug – so while transactions are carried out online, your private key is stored offline and protected against hacking attempts. Consequently, hardware wallets are widely known as the safer storage option.
The best-kept hardware wallets are as follows:
- Ledger Nano X
The Ledger Nano X is Ledger’s newest hardware wallet. The main idea of this device is that it is the easiest way to secure your Bitcoin and other cryptocurrencies.
One of its unique features is it has Bluetooth, making it the first hardware wallet that connects with iOS devices. This means it is more secure than using just an app on your phone as transactions are signed with Nano X.
The Ledger Nano S is used for the storage and transactions of top cryptocurrencies (BTC, ETH) and other popular altcoins (LTC, BCH, ZEC).
If you are planning on investing in many different cryptocurrencies, then this is the option, not to mention it is the only hardware wallet that supports XRP, as of now. The ledger Nano S is the cheapest among other hardware wallets with a screen.
- TREZOR T
The TREZOR Model-T is the second generation of Bitcoin/Altcoin hardware wallet manufactured by SatoshiLabs.
The TREZOR line launched the TREZOR One (T-One) in 2014 and remains among the significant cryptocurrency cold storage solutions to date. This wallet is designed to be safely used even on malware-infected viruses (although this is not recommended).
- TREZOR One
TREZOR is the first Bitcoin hardware wallet launched in August 2014, offering secure cold storage plus the capability to spend with the convenience of a hot wallet.
TREZOR is an HD wallet in which you can control the private keys, so an entire wallet can be backed up with the 24 words generated on setup. It provides top-notch security for Bitcoin while protecting against both physical and virtual theft.
KeepKey is a secure Bitcoin hardware wallet launched in 2015 that has extra advanced features and easier to set up, making it a great choice for new and experienced Bitcoin users alike.
Similar to TREZOR, Keepkey also offers splendid security and protects against both physical and virtual theft. It can be used on any computer, even one on malware-infected viruses or targeted by hackers.
Tell me if I’m wrong, but you smell so expensive and how can you not afford to buy one?
Online/Web wallets (most often provided by exchanges but sometimes offered by third parties) are connected to the Internet and are generally the easiest to set up and use. Most only require an email address and the desired password to create an account, and web wallets are usually designed to provide a simple and friendly-user experience.
The privileges of online wallets are that they cannot be lost and accessible from any computer with an Internet connection.
However, being online is unfortunately also their disadvantage as some platforms maintain the wallets of thousands of users, they can become hot targets for hackers.
Tip: It is important to check whether the wallet you choose lets you retain complete control of your private keys or whether they are owned by the wallet provider.
These are the list of excellent web wallets you may opt for:
BitGo is a high-security multi-sig wallet, which protects bitcoin from theft and loss. BitGo wallets are easy to use and offer advanced security features such as spending limits and multi-user access, making it the best option for novice and expert to choose!
GreenAddress is a user-friendly multi-signature wallet with improved security and privacy. This wallet is available on the web, desktop, Android and iOS. GreenAddress is compatible with hardware wallets like TREZOR, Ledger Nano and the HW.1.
Blockchain Wallet is a digital wallet platform developed by the Luxembourg-based software development country, Blockchain. Blockchain claims to be the world’s most popular digital wallet for storing Bitcoin and Ether. Not only accessible on the web, but Blockchain wallet also can be accessed via mobile devices that support iOS and Android, making it easy for anyone to transact digital currencies securely through a clean, intuitive user interface.
Mobile wallets are fairly similar to desktop wallets, with the obvious difference being that they run as an app on your smartphone. Mobile wallet is easier to use compared to its desktop counterparts and able to scan other wallet addresses for fastest transactions.
Note: You have to be extra careful about losing your smartphone because there’s a risk that anyone who has access to your device might also have access to your funds.
Below is the list of best cryptocurrency mobile wallets that you may choose:
The Samourai wallet is a mobile wallet for Bitcoin focusses on user privacy as well as security. Samourai was one of the first wallets to implement SegWit, a transactional upgrade to the Bitcoin protocol that enables lower transaction costs for users. It also speeds up transactions and is a necessary feature for the implementation of the Lightning Network in the near future.
Due to its strong anonymity and privacy aspect, it is only available on Android mobile devices. As for Android users, Samourai wallet is available for download from the Google Play Store.
Mycelium is a highly integrated bitcoin company specializing in hardware, software and security, while Mycelium Wallet is an iOS and Android mobile wallet that allows you to store, send and trade bitcoin.
DropBit is the most user-friendly iOS Bitcoin wallet and is the simplest way to send bitcoin. Most importantly, DropBit allows you to control your own private keys. For Android users, you can also download the wallet in the Google Play Store.
Breadwallet is the first standalone iOS Bitcoin wallet, recently released an Android wallet. It offers the user control of private keys, an easy to use interface and passcode support.
Edge is a powerful and easy to use a crypto wallet that allows users to easily control their own private keys with the familiarity and ease of mobile banking. Edge Wallet provides maximum security while keeping simplicity, allowing all types of users to easily manage, transfer and exchange their currencies.
GreenBits is a native Android version of the crypto wallet. It is a multi-signature wallet that supports hardware wallet like TREZOR and Ledger. GreenBits is a fast and easy to use wallet which can even be used by beginners and it offers a great variety of services and features.
- Bitcoin Wallet
Bitcoin Wallet is the first mobile Bitcoin wallet that connects directly to the Bitcoin network, making it more secure than most mobile Bitcoin wallets. It has a simple interface and various great features – a great wallet and a great educational tool for Bitcoin beginners.
Crypto.com Wallet App allows users to buy, sell, send and track cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). At the moment, the platform offers MCO Visa cards, wallet and portfolio building services.
Desktop wallets are downloaded and installed on your computer. Easy to set up and maintain, most are available for Windows, Linux and Mac, although some may be limited to a particular operating system. Desktop wallets provide a relatively high level of security since it is accessible from the machine on which they are installed. However, you have to keep your computer secure and free of malware, so antivirus and anti-malware software, as well as strong firewall, are required to keep your coins safe.
Electrum is a simple, easy to use desktop bitcoin wallet that is compatible with multiple operating platforms, such as Windows, Mac and Linux. Its core feature is its integration with the major hardware wallets, such as TREZOR, KeepKey and Ledger Nano S. This means you can integrate Electrum with any of these premium hardware wallets.
It is intimidating choosing the right wallets, yeah, I heard you well. Some may ask, “Can I just keep my coins on an exchange to avoid complexities?” In response to that, yes, you could but you would not want to.
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A keen researcher who believes in enriching her knowledge. For Shuhada, the crypto world intrigues her sense and offers plenty of high delicious 'crypto cuisines'.