Top 10 Cryptocurrency Wallets

Cryptocurrency wallet

Did you know that only about 8% of crypto holders keep their coins safe?

Introduction

With bitcoin gaining widespread acceptance and continuing to grow in massive popularity, it has enabled users to withdraw cryptocurrencies from a crypto exchange and store them in an outside wallet. Just like that. Think of it as a digital wallet of sorts, with the same mechanics as a physical wallet in that you use it as a storage space for money, but all on the cloud. 

As a beginner, you’re probably looking around and scratching your head at how it’s even possible to store money online in a legitimate, safe way. But you’ll be surprised to know that many people actually prefer a bitcoin wallet to expand their funds. The reason for this lies in the simple fact that crypto wallets have been known to uphold a maximum security protocol, placing your money in the safest possible hands ever. This is ideal for both big and small accounts, knowing they can rest easy in the knowledge their hard-earned money is being cared for. 

Having a cryptocurrency wallet means that only you can access your digital currency. This private access to funds that belong solely to you, without government intervention as well, makes it an appealing choice for the average trader. Storing digital currency on a third-party website just makes it all the more vulnerable to thefts and hacks. Therefore, a bitcoin wallet ensures unmatched security and protection of funds.

Here are some of the best cryptocurrency wallets around:

1. Exodus

Widely regarded as one of the most trustworthy platforms ever, Exodus is a desktop and mobile wallet with a very simple user interface and an exchange built-in. One of the most popular features of Exodus is the ability to swap between a growing number of cryptocurrencies with ease, making it possible to alternate between over 100 different cryptocurrencies in one place. With its simplicity, this wallet is great for beginners just getting into the crypto space. It also has great support, which is an essential feature for beginners getting into what many would consider a confusing market.

2. Ledger Nano X

Ledger Nano X contains high spec security features, making it one of the most reliable platforms to date. You never have to worry about hacking attacks or theft of any sort. With Ledger Nano X also housing a number of different coins, having your account set up here is enough to secure your coins. It’s also a hardware wallet, and is also known as the cold wallet because it offers offline storage. As a wallet, you can connect it to your device using a USB or Bluetooth connection. Once connected, you can then buy or manage your crypto whenever you want and anywhere you are. 

3. Mycelium

Mycelium provides direct and one-on-one control of your crypto private keys and they will never leave your device once integrated. It also gives you the option of locking the wallet with a secure pin, kind of like a password. Mycelium allows users to operate multiple accounts and reuse addresses, making the entire process more convenient for beginner traders. They also facilitate in-app exchange and trading for ERC-20 and BTC cryptos. 

4. Trezor

Staying away from the dangers of internet connections, Trezor is a hardware crypto wallet that prides itself in being able to store more than 100 cryptocurrencies offline. It allows users to sign and verify transactions offline using physical device buttons before transmitting the transactions into the network via send or exchange. Trezor is famously used to store large amounts of crypto offline, which makes it more useful for custodian applications by exchanges, crypto companies, etc. It is one of the best cryptocurrency wallets as it allows people to manage their portfolio as well as send and receive securely.

5. Electrum

Widely known as one of the original Bitcoin wallets, Electrum was founded in 2011 and has since managed to become one of the most best crypto wallets today. Launched two years after Bitcoin’s creation, its well known for taking on a bare-bones and minimalist user interface and sole commitment to only Bitcoin. But while this simplicity is often criticised, it excels at its primary function of being suited for more advanced users do the complexity of its options. Electrum is open source, allowing its users to set custom transaction fees, and has the option to choose between legacy Bitcoin and Segwit. It also offers users the ability to determine the level of security they wish to use. 

6. Wasabi Wallet

Wasabi uses an integrated CoinJoin transaction mixing tape to conceal the identity of receives and sends transactions. It also integrates the Tor network for further transaction anonymity. The wallet lists all the individual UTXOs or unspent transaction outputs; hence, the history of transactions is clearer. Because of its proprietary system, it also discourages the combining of non-private coins and private coins in one transaction as happens regularly, which may decrease privacy in automatic coin selection algorithms.

7. Opolo

As Opolo is first and foremost a hardcore wallet, it utilises an EAR 6+ rated chip to secure users’ crypto. Most of the other current hardware devices have EAL1 to EAL5 category chips. It is also audited by external companies such as Digital Security Paris and is verified as capable of helping to secure IoT devices.

8. Cobo

A cloud-based software HD wallet, Cobo allows users to do a multitude of work right from the comfort of their mobile phones. You can save the private keys to their crypto on their mobile phones, import seeds from other wallets, verify transactions with QR codes, and secure wallets with passwords and 2-factor authentications. It enables users to access dApps, stake their crypto to earn more, in addition to storing, sending and receiving.

9. ZenGo

ZenGo is a non-custodial, keyless crypto wallet, making it the simplest yet most secure and always recoverable wallet to invest in cryptocurrency. Create an account in just 19 seconds and be the true owner of your crypto. Aside from this, you can also earn 4% APY interest on your Bitcoin and cancel or speed up your sent transactions before they are confirmed on the blockchain with 1 tap.

10. CoinSmart

Coinsmart is a digital currency exchange that enables users to buy and sell crypto with no hassle. They provide a quick and easy way to invoice your customer using SmartPay Invoicing. By making cryptocurrency more accessible to everyone, they are widely regarded as one of the most user-friendly and easiest to use cryptocurrency trading platforms to date.\

Conclusion

Bitcoin wallets offer that extra touch of security, putting your mind at rest that your funds are in safe hands. The main thing is to choose your crypto wallet with caution, ensuring the platform is reliable and credible. Because after all, you wouldn’t want your money going into the wrong hands, right?

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