In order to find the best crypto wallet, there are many factors to consider. Hence, we made this simple and clear guide to help you make the best choice. If you're interested, then read on!
Crypto wallets are a safe and secure place to store your crypto assets. These wallets can have different forms: digital software for your computer or smartphone, physical device, or even paper wallets. Some of them allow you to hold only one type of cryptocurrency on it, while others support many types of digital coins and even offers internal, integrated exchange to switch your coins. As you can see there are tons of diverse types, but there are always one that is the best for you!
You need a wallet to safely store your cryptocurrencies, and later to be able to transfer your coins from or to the cryptocurrency exchange. Some of the biggest exchanges (i.e. Binance, Coinbase) have their own integrated wallet. However, it still does not give you full control over your coins. Therefore, we highly recommend using your crypto wallet and be the only person to have the access to your wallet.
Cryptocurrency wallets are not so hard to use and maybe a very convenient place to control your crypto assets. It works like a bank account, but you are the only person who have the access to it. Your personal wallet address enables you to send and receive coins (very similar to bank account number). Therefore, while you decide to purchase, send, or receive crypto you need to provide your crypto wallet address (in form of a string of numbers and letters). Then the transaction is concluded, and the funds are transferred directly to you.
Now, when you know how it all works it is time to choose the most convenient wallet type. There are many forms of wallets and have different use and purpose. Let us discuss it below.
These wallets are usually in form of the app to be downloaded on your device (phone/computer). It is mostly controlled completely by its user, which makes it safe from frauds. However, in this case, you are fully responsible for your funds. You better buy a new laptop or at least provide yourself with top anti-virus to prevent any losses. It is widely used by fresh investors due to the simplicity and ease of use.
The most convenient type of software wallets is mobile ones. They are very nice if you need instant access to your cryptocurrencies. You can simply use your mobile app and send or pay with your digital coins. Pretty cool right? Sure, but there is a bad side too, you cannot export your private key and, therefore you may lose all of the coins you hold store there. Until you bear only a part of your assets here, everything should be fine!
Hardware wallets are one of the most picked for long-term investments (so-called 'hodl'). They are mostly available in a form of a small external device (similar to USB) with built-in software that enables control over your crypto equity. They operate offline (despite the computer connection) and gives you absolute control over your digital assets (cold storage). Though it may seem the ideal choice it is important to stay vigilant and regularly update your wallet. Crucial advice is to always buy a brand new wallet from the official provider; The used, second-hand products may be infected with the virus!
Paper wallets. These are recognized as one of the safest ways to store your cryptocurrencies. You simply receive the paper with a printed private key of your cryptocurrency and usually QR code to scan through your phone. Bear that in mind that you always receive the paper wallet from generators and, unfortunately, there are also scams. Always make sure you use reliable service.
Web wallets are usually offered by a company that built a cloud-based desktop for access to cryptocurrencies. They are not so secure since everything takes place in the cloud and they are being hacked often, therefore we recommend using these wallets only for small transactions. The plus is you can easily access your coins using this type of wallet. What is worth to be mentioned, many cryptocurrency exchanges offer this type of wallets to make trading safer and liquid.
To find your best crypto wallet you may look for the factors. There are several crypto wallets. However, only a few of them are reliable and worth being used. Below, we mention a few factors you can check which may simplify your research and help you make the best pick.
This is a very important and core point. If the company is not reliable and trustworthy, you do not choose it. Always try to pick checked services that are recommended by other, experienced users.
Security topic we covered above. It will vary based on the type of wallet. Depending on what transaction and amount of cryptocurrency assets you have you can estimate which wallet is the best for you.
Always buy wallets from checked sources. Several companies take the lead on this market and you can be sure they have solid services. What we can ensure you about is that all of the crypto wallets you find on our website are form verified providers and using our services you will be always direct to the official website.
Bear in mind that sometimes crypto wallets are intended for only one type of cryptocurrencies. Therefore, check carefully if you will be able to store your crypto on a wallet you bought.
We know that finding the best wallet may be a long and exhausting process that will take time. Hence, we want to make it straightforward and simplify your choice as much as possible. Please, go to the Wallets Section and find your best cryptocurrency wallets in matters of minutes!
Finding and learning how to use crypto wallets may be confusing at the beginning. However, as you get more experienced you will find out it is not that hard. Remember to never give your access to the wallet to anyone and protect the device you use. It will help to avoid any problems with your wallet. We hope it helped you find the best wallet. You are doing great, and we hope you will become a cryptocurrency advanced trader very soon!
With love ❤ Cryptoplater!