As cryptocurrencies are getting on-demand, users start investing in these assets instead of more traditional ones. Choosing a reliable wallet is one of the key stages of investing in cryptocurrency. Each of them has pros and cons. Some provide security, others attract investors with a user-friendly interface and the ability to work with multiple assets. That’s essential to select the best cryptocurrency wallet to protect tokens from fraud. Read more about the best crypto wallets in the new StealthEX article.
What Is a Cryptocurrency Wallet?
All tokens circulate in blockchains. To transfer assets to another user, a new block must be added where the balance information of all wallets is updated. Since there is no administration or master server in distributed registries, the sender signs the request with a private key. The cipher is checked against other records and serves as proof of the legitimacy of the funds transfer.
A crypto wallet is an app, browser extension, or device that secures private keys, user access to the blockchain, and generates requests for transactions on the network.
Different Types of Crypto Wallets
Wallets with no continuous access to the Internet are cold. Their key feature is the lack of continuous communication with the blockchain.
Unlike cold wallets, hot wallets are connected to the internet. These can be:
- Mobile apps.
- Programs on your computer.
- Online services, including exchange accounts.
- Cryptocurrency accounts are embedded in international payment systems.
Besides, on some exchanges, you can store coins directly in your account. These funds are transferred to the exchange’s cold wallet. The receipt of the money is conducted manually. Even if the account is hacked, a user will have time to notice the attack and cancel the transaction.
What Is the Best Wallet for Cryptocurrency?
Trust Wallet
Trust Wallet is an Android and iOS compatible app, which is often called the best crypto wallet for the following features:
- Multi-currency interface. Customers can receive and send BTC, ETH, BNB, and others.
- Built-in investment offers. The cryptocurrency holder can transfer them to staking for more earnings.
- Built-in DEX. This protocol allows you to exchange cryptocurrencies without an intermediary.
- Possibility to store NFTs.
Coinomi Wallet
Coinomi was founded in 2014 and is available on smartphones and PCs. It’s one of the few multi-currency wallets supporting SegWit addresses. Coinomi allows you to manage and exchange tokens. It’s one of the most secure tools. According to its founders, none of Coinomi’s wallets have been hacked yet.
Exodus Wallet
It’s also one of the best crypto wallets compatible with Windows, Linux, macOS, and smartphones. The company has partnered with hardware cryptocurrency wallet maker Trezor. This allows cold storage owners direct access to token transactions through Exodus.
ZenGo Wallet
This wallet is chosen by investors thanks to its simplicity. Its primary benefit is that it’s keyless, and holders don’t need to memorize passwords or seed phrases for protection, as ZenGo provides access to a facial biometrics feature.
Furthermore, it lets users earn extra with a $10 cashback for friends’ invitations. Trading across chains is also simple, as ZenGo offers over 40 multichain assets.
Trezor Wallet
Trezor is the world’s first hardware cryptocurrency wallet supporting cold storage. Created in 2014, it combines the security of offline storage with the convenience of hot wallets. Trezor resembles a small car lock key and connects to a PC via USB.
Guarda Wallet
This wallet is available as a desktop program, mobile app, browser extension, or online tool. Users can:
- Store and send assets.
- Make money from stacking.
- Buy digital currency for fiat.
- Make instant token exchanges.
- Join the referral program for extra earnings.
MetaMask Wallet
MetaMask is designed to store digital assets and exchange them on decentralized platforms. It’s available as a plugin for Google Chrome, Firefox, Edge, and Brave browsers.
MetaMask provides access to ERC-20 tokens, Binance Smart Chain, and several other networks. The wallet has also been supporting NFT transactions since 2021.
KeepKey Wallet
KeepKey has a 3.12-inch display that makes this wallet easy to use and protects against accidental errors. It has a built-in cryptocurrency exchange app and browser plugin. It’s designed for transactions with BTC, ETH, LTC, DOGE, BTG, and ERC-20 standard tokens.
Armory Wallet
This top cryptocurrencies wallet is oriented on experienced users, with an increased level of protection of personal data. Armory allows you to generate Bitcoin addresses for cold storage. It doesn’t connect to the Internet and is used only for incoming transactions.
The installation file takes up little disk space, but the program requires a full node to be pre-configured via Bitcoin Core to run online.
Jaxx Wallet
The main purpose of the project is to unite the communities from different countries. Desktop and mobile versions of Jaxx Liberty are available to users, as well as extensions for the Google Chrome browser. Over 90 tokens are available to clients.
How to Create a Cryptocurrency Wallet?
The procedure for creating a wallet depends on the selected type. The design of an online wallet differs from the creation of a PC version. When the choice is made, follow the recommendations of the selected platform.
To register a local wallet, download an app, program, or archived file with system data to your PC. Then follow the instructions to install and activate the wallet. After installing the software and restarting your PC, you can start using your wallet.
Online wallet registration is also simple:
- Go to the selected site and click “Open Wallet”.
- In the new window, enter your email and password.
- Confirm your registration by email or SMS.
- Go to the site and log in to the wallet.
- In the menu, change settings according to your needs.
Summary: How to Choose a Crypto Wallet?
Overall, dozens of cryptocurrency wallets allow you to organize the process of effective interaction with cryptocurrencies, regardless of your goals and investment strategy. First, determine the tasks that the selected top-rated crypto wallet should cope with and ensure that it will help you avoid security problems with your assets.
Now you know a little more about cryptocurrency wallets. If you decide to join the crypto community, you can start buying your own coins at the instant crypto exchange StealthEX. This service is free from registration and does not store users’ funds on the platform.
Just go to StealthEX. Open the «Buy» crypto window instead of the automatically loaded «Exchange».
- Then select fiat currency and choose the cryptocurrency that you want to buy. For example, USD to BTC.
- Enter your crypto wallet address.
- Agree with the Terms of Service of StealthEX. When buying crypto for the first time you will need to confirm your identity and enter data requested by the Mercuryo system. Once all the provided information will be confirmed, you will be able to purchase crypto without passing this procedure again.
- Send in the fiat and wait for your purchase to go though!
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The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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