Cryptocurrencies have transformed the world of finance and technology, has added an unprecedented momentum to the digital revolution. Cryptocurrencies are decentralized means of currency which uses a distributed ledger technology for digital transactions. However, just like physical currency, cryptocurrencies need to be stored in wallets, which is both a requirement for trading as well as for keeping the currency secure. The wallet stores, receives and transacts in digital currency similar to a bank account. The choice of wallet, however, depends on certain considerations as different kinds of wallets are available like a hardware wallet, online wallet, mobile and desktop wallet, and paper wallet. Let us examine the top five cryptocurrency wallets that are available for crypto users.
Ledger Nano S
It is a USB sized hardware wallet particularly created for digital currencies and has all the features needed for security and back up for private keys. The wallet has a small LCD screen and does not require a computer to operate as it is not a ‘plug and play type’ device. It is small in size and very convenient to carry, with the ability to perform transactions, exchange, transfer from one account to another and use related apps in seconds. In case of theft, the user can block access to his account immediately and rely on the backup. The important features are- multi-currency support, built-in-display, ease of operation, security, and backup.
It is a non-custodial multi-platform wallet crafted to transfer, store and manage cryptocurrencies in a hassle freeway. It supports over 10,000 tokens and 40 blockchains, and the currencies can be bought with a bank card within the wallet and exchanged through the built-in-exchange service. It makes rapid transactions and is supported by different versions and platforms, which helps in accessibility from any device with an internet connection. Guarda offers a range of single-currency open-source mobile wallets where the private keys and data are not stored, preventing possibilities of information leak.
It is a web-based cryptocurrency wallet and can store over 1200 cryptocurrencies without any registration charges and small transaction fees. One of its best features is visibility, and it has been accepted as a payment mode by several online stores, which makes it easy to use anywhere. Although online wallets are prone to cyber attacks, Coinpayments has undertaken several measures to ensure wallet safety. Some of its noticeable features are- wide acceptability, multi-coin wallet, BitGo integrated, which makes it fast and secure and a vault feature to make the processing of money difficult so that accounts are less vulnerable to hacking.
It is a custody free, multi-currency digital wallet, where one can manage, exchange, buy, or sell cryptocurrencies with ease. It boasts of a ‘user-friendly interface protected by a mnemonic seed,’ with full user control of funds and supports more than 300 tokens. A few of its important features are high security, anonymity, multi-platform wallet, zero fees, 24/7 customer support, instant exchange, and Buy Crypto option that enables exchange with over 60 cryptocurrencies.
It has emerged as one of the best online web-based cryptocurrency wallet featuring graphics and a reporting system. Exodus shines out in its features as well as its presentation and has most of the advanced features of a digital wallet. Some of the important features, which ensure security and convenience to users, are- one-click exchange without complicated verification that fastens transactions, stores multiple currencies without extra subscription fees. Exodus is an offline wallet which implies that sensitive information is stored on the computer used, and not on the server, the account is however created through the website. It is free for all users except for some premium services, and the user-friendly design makes it very popular among non-technical crypto users.
Crypto trading or Bitcoin trading becomes very easy and convenient with the help of a bitcoincodereview.com platform. It provides smart trading software to make your trading user friendly. A diligent choice of cryptocurrency wallet is very important as it would ensure the safety of the currency and its effective use. Therefore one must make a wise decision and choose the right wallet based on the needs and features offered.