Best crypto wallets – CCM
Last update on through Elena Keracheva
Cryptocurrency becomes more and more present in our lives. After you have learned the basics, you might want to know what are the best crypto wallets that exist. Because trusting someone with your money is tricky, it is very important to do your research. To make this step easier for you, in this article we discuss the best wallet for crypto and the types of wallets that exist in general. So if you’re ready to satisfy your curiosity, read on!
What is a crypto wallet?
The first thing you should know is that there is different types of wallets which are defined by your use and needs. Here are the main ways
Hot and cold: Hot wallets are connected to the internet, while cold wallets have no internet connection and to store the keys offline they use a physical medium. Usually, cold wallets are considered safer than hot wallets.
Software and hardware: Most software wallets are hot wallets and can be web, desktop and mobile wallets. On the other hand, hardware wallets are a type of cold wallets because they are not connected to the Internet and have a physical device that uses public or private keys, generated by a random number generator (RNG).
Best software wallets
Binance supports more 200 cryptocurrencies, including the most famous: Bitcoin and Ethereum. The platform offers users the possibility of buy, sell and trade cryptocurrencies. With customer support available 24/7 and in several languages, Binance is an excellent and Safe place for your tokens. The mobile application has some interesting and useful features, for example, an option to switch between a Lite and Pro interface, depending on your knowledge of cryptocurrency. In addition, the application is supported on almost all operating systems.
the The Exodus crypto wallet is supported on both your desktop and your mobile device. What’s great about this wallet is that it has more 100 digital assets and you can change easily between them. It’s possible thanks to Exodus’ user-friendly interface this makes it very suitable for beginners. On top of that, just like with Binance, the customer service is very useful.
Another advantage of Exodus is that it offers users access to the private key to their Bitcoin. However, it is a closed source software which means that the source of the code is only available to the Exodus team.
Electrum has the reputation of being the first portfolio – since 2011. Electrum is perfect for bitcoin, because it is exclusively dedicated to this cryptocurrency. The complexity of its interface is ideal for people with more advanced knowledge of digital assets, especially since there are no customer support.
A big advantage of Electrum is as it is for sure: it’s really great because you can set the security level. In addition you can customize transaction fees.
Coinbase is one of the most famous names in the cryptocurrency world. Seen more as a cryptocurrency exchange than a personal wallet, Coinbase still offers the option of deposit or withdraw Bitcoin. One of its biggest advantages is that it is Quick and easy to use, thus making it more accessible for beginners. You can find 62 tradable cryptocurrencies and use it right from your iPhone or Android device.
Although Coinbase is safe and secure, you should know that if you want to have access to the private keys of the cryptocurrency held on the exchange, it is Not possible. Too, transaction fees can be high.
Just like Electrum, Mycelium is dedicated to Bitcoin only and is one of the oldest wallets out there. He has a user-friendly interface and is designed for Android and Apple devices – this guarantees a good mobile experience. This Bitcoin exchange allows users to set the transaction fees.
Other famous portfolios
Some other famous wallets that are worth mentioning are Trust Wallet, Robinhood crypto wallet and Crypto.com.
Best hardware wallets
Trezor is one of the most well-known hardware wallets. the Trezor model T is part of the company’s second generation portfolios.
The model supports more than 1600 cryptocurrencies and users have the ability to access third-party exchanges through the website. The Trezor Model T has a USB Type-C cable which means users can connect it to their smartphones or computers.
Ledger Nano X is another very famous hardware wallet. It uses a Custom operating system (BOLOS) and CC EAL5 + certified Secure Element (SE) chip. Much like the Trezor Model T, this is the company’s second-generation portfolio. One of the advantages of the device is its small size – it is roughly the size of a USB stick and users can connect it to their phone or computer.
Even though Ledger has been on the market for the early years, it has faced serious data breaches in July 2020.
If you are interested in cryptocurrency, you could take advantage of our dedicated articles on History of cryptocurrency and how to avoid crypto scams.
Images: Unsplash: @bermixstudio and @thoughtcatalog; Binance; Exodus; Electrum; Coinbase; Mycelium; Trezor; register