Best Crypto Wallets You Should Use

Best Crypto Wallets You Should Use

It seems like not very long ago that the idea of a digital currency belonged exclusively to the musings of post-apocalyptic thinkers. But then Satoshi Nakamoto happened, and the world has never been the same. Fast forward more than a decade, and things look quite different; there is now a deeply established digital currency industry.

Hence, today, looking for a top cryptocurrency wallet to store digital currency is a pretty typical query. Consequently, this list will help to present some of the best crypto wallets available on the market. Bear in mind, each of these wallets will be different in many ways. This list will include hardware wallets, desktop wallets, mobile wallets, and one or two all in one crypto wallets. You will know which one to go for depending on your most important digital currency needs.

Coinbase

This web-based wallet has got a lot of going for it. Besides its wallet function, it also has a fully functional crypto trading platform, and the platform's insurance policies cover all cryptocurrencies stored on Coinbase wallets.

Its user interface is easy to pick up on even for beginners. You can also connect your wallet to your bank account and make transactions in either direction. Coinbase is an excellent wallet for traders due to the availability of many financial instruments along with a myriad of cryptocurrencies. It also has two-factor authentication and a multi-signature feature. The only let down with this wallet is that it doesn't hold Bitcoin.

Ledger Nano S5

Launched in 2014, this is the first hardware crypto wallet on this list. Designed by the Ledger Company, this USB wallet costs under $100. For security, it has a two-factor authentication, a small LED screen for validating payments, and a secure PIN as an added layer of transaction confirmation.

This device runs on BOLOS, its exclusive operating system. BOLOS is compatible with Windows, Linux l, and Max, making the Ledger Nano S5 USB compatible with these operating systems. The biggest shortcoming of this hardware wallet is that, although it supports many digital currencies, it can only function when hooked up to the internet exclusively via Google's Chrome browser.

Jaxx Liberty

This wallet isn't an all in one crypto wallet, but it does offer multiple wallet configurations. Jaxx Liberty can be used desktop-style on Windows, Linux, and Mac, and also has a mobile app for Android and iOS, for those who prefer a mobile experience. This wallet has cross-platform accessibility and has a single code base. These features mean your updates and user experience are synced across all your desktop and mobile devices.

Jaxx Liberty supports almost 70 cryptocurrencies, and its security and privacy are boosted by its centralized validation feature, giving you full control over your private keys. You can easily convert from one currency to the other and rebalance your cryptocurrency portfolio however you want, thanks to Jaxx Liberty's exchange feature. Some users complain though that this wallet's user interface is not the best, especially for blockchain wallet newbies.

Trezor Model T

This hardware wallet is an upgrade to the earlier Trezor One. The fact that 'Trezor' means vault in Czech tells you almost everything you need to know about this wallet's focus. The most significant difference between this and the Trezor One is that this one has a large, simple, color-based touch screen. This touch screen keypad, however, is the only way to interact with the wallet. You'll need to punch in your PIN to connect the wallet to a USB port.

You have to be sure of your PIN, though, because you've only got one chance to get it right. If you put in the wrong PIN, the Model T will lock you out for a period of time to the power of 2. The wallet also comes with seed security: a 12-word seed recovery card that you can use for backing up your cryptocurrencies should you ever forget your password. Like the Trezor One, the Model T also supports a whopping 500 cryptocurrencies or so, making it an attractive choice for crypto enthusiasts.

Electrum

This open source-based crypto wallet has been around since 2011. This one is strictly for holding and transacting Bitcoin. One of Electrum's standout features is its multi-signature functionality. This feature makes it ideal for businesses that make and receive transactions in Bitcoin or for shared group ownership of wallets. Electrum operates with SPV validation, and its blockchain cannot be downloaded onto a local server.

Final Words

It doesn't matter whether you are a trader, a HODLer, or a business. No matter the platform(s) you opt for, remember that the best strategy for your cryptocurrency is keeping the bulk of it under lock and key with a wallet that offers superior security and privacy. Also, continue to expect frequent updates and changes from these wallets as they continue to push for mainstream acceptance and compatibility.

Author Bio

Frank Hamilton

Frank Hamilton has been working as an editor at review service Online Writers Rating and an author at Best Writers Online. He is a professional writing expert in such topics as blogging, digital marketing and self-education. He also loves traveling and speaks Spanish, French, German and English.

Publication date: 
06/04/2020 - 14:45
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.