Have you been searching for the best means of storing your cryptocurrencies? Are you worried that you might lose your fiat-turned-cryptocurrency to hackers? Well, you don't need to worry about this if you use a secure cryptocurrency wallet.
Cryptocurrency wallets are pretty similar to bank wallets on your phone. The only difference is that, unlike your bank's app, which serves as a platform where your fiat currency is being stored, only cryptocurrencies can be stored on the cryptocurrency wallets.
Cryptocurrency Wallets Explained
Cryptocurrency wallets are software applications or hardware devices that enable cryptocurrency owners to securely save the cryptocurrencies they acquire without fear of theft, manipulation, or hackers. Also, a cryptocurrency wallet can be defined as a software application that keeps your private keys safe. With these keys, you will always be able to access your cryptocurrencies anytime you want to. Hence, when a person buys a cryptocurrency, such as litecoin, a cryptocurrency digital wallet allows such a person to store the litecoin acquired, which can later be used to execute certain transactions. These cryptocurrency transactions include the exchange of a coin for another, cross-border payments, and peer-to-peer payments, amongst other transactions.
Examples of popular Cryptocurrencies stored using cryptocurrency wallet apps are Bitcoin, Ethereum, XRP, Dogecoin, Litecoin, Cardano, Tether,and Binance coin.
10 Best Cryptocurrency Wallet Apps in the World Today
1. Coin base
Coinbase is a cryptocurrency wallet provider that cryptocurrency traders use for acquiring, exchanging, selling, and storing cryptocurrencies. The Coinbase wallets serve as a reliable platform that keeps numerous cryptocurrencies secure. The Coinbase wallets can be used in so many countries across the world.
It is important to note that the Coinbase wallet differs from the Coinbase trading app. The former helps cryptocurrency users securely store their crypto savings and investments, whereas the latter supports cryptocurrency exchange transactions. The Coinbase wallet has a rating of 3.4 out of 5 on the play store and 4.6 out of 5 on the app store.
Features
1. Access to multiple cryptocurrencies: Coinbase wallets allow users to acquire any digital currency that operates on distributed ledger technology and keep track of them in one place.
2. Available on mobile devices: Coinbase wallet is available both on iOS and Android.
3. Unique autotrading feature: Coinbase wallet has a feature that enables traders to plan and pre-set the currency they want to trade.
4. Highly secure platform: Coinbase wallet has robust storage backed up with a well-designed security feature known as Secure Enclave. To access the wallet, users would have to use their security key, which Coinbase manages.
5. Biometric authentication: Digital currencies in the Coinbase wallets are stored and secured with the biometric verification feature, which prevents a third party from gaining access to the user's digital currencies.
6. Know Your Customer policy: The Coinbase cryptocurrency wallet provider has a feature that allows it to verify a customer's identity. This is done via the 'Know Your Customer' feature, through which personal information about a customer is retrieved in adherence to rules by regulatory authorities.
7. Storage of Non-Fungible Tokens(NFTs): The Coinbase wallet is embedded with a feature for NFT lovers. Non-fungible tokens refer to assets that only exist digitally with no physical version, and ownership is conferred upon the buyer through digital tokens, which are unique and cannot be replaced with something else.
2. Exodus Wallet
There are two key things you should know about the Exodus cryptocurrency wallet. It is non-custodial and a hot wallet. The Exodus wallet is non-custodial because the user's digital assets are secured through a private key that only the user has access to. This cryptocurrency wallet provider is referred to as a hot wallet because the digital currencies belonging to users are kept in online storage.
Exodus cryptocurrency wallet commonly operates on desktop. However, it can be used on Windows computers, Mac computers, and Linux. Also, users can have the Exodus wallets on their mobile phone as it is available onApp Store and play store.
You should know that when you use the Exodus crypto wallet, your digital currencies in the wallet are incorporated into the exchange platform, thereby enabling you to carry out any transaction of your choice via the Exodus cryptocurrency exchange platform.
Exodus Cryptocurrency Wallet has a rating of 4.1 out of 5 on the play store and 4.6 out of 5 on the app store.
Features
1. Multiple digital currencies: Users of the platform have access to various cryptocurrencies ranging from Doge coins to Bitcoin to Ethereum and many others.
2. Use of US dollars for bitcoin: This crypto wallet allows users to acquire bitcoins using US dollars.
3.Compatibility with Trezor Wallets: This is another remarkable feature of the Exodus wallet. The wallet can be used with Trezor, which is a hardware wallet.
4. Best Cryptocurrency Wallet for Desktop Users: Although the crypto wallet is now available on both Android and iOS devices, you should know that the Exodus crypto wallet is best used on a desktop due to the quick rate at which transactions are completed.
5. Appealing and User friendly: The Exodus crypto wallet has a well-designed user interface which makes it appealing to users and easy to navigate.
3. Binance Wallet
Binance wallet app is one of the most popular and safest platforms for cryptocurrencies. It has a feature that allows users who use another cryptocurrency trading platform to integrate their crypto wealth into the Binance wallet through the use of the Application Programming Interface, popularly known as API. The Binance Wallet has a rating of 4.1 on the play store and 4.7 on the App Store.
Features
1. Easily accessible: You can quickly access the Binance crypto wallet app as the software is available on all devices- Android, iOS, and personal computers. If you do not want to log in through software, you can use the web to gain entry into your cryptocurrency wallet.
2. It has solid security features: The Binance is well known for being highly secure.
3. Backs variety of assets: Users can access a large number of cryptocurrencies via the wallet.
4. Mycelium
Mycelium is well known to be one of the earliest and most secure cryptocurrency wallet providers. However, the Mycelium wallet is only available on mobile devices. Thus, users can only access it by downloading it on the App and Play Store.
Features
1.Compatibility with cold wallets: Common Cold wallets such as ledger and Trezor can be used with Mycelium. This means that the crypto wallets allow for the storage of the digital keys of a user without connecting to the internet.
2.Well-secured crypto wallet: Access to this crypto wallet is backed with pin protection. Also, the wallet is unique because it allows for duplication of codes, thus enabling the code to be examined to know if it's the same as the original code. The wallet helps detect threats to a user's wallet by doing this.
3. Unique transaction history: Mycelium's transaction history is unique because it contains details about the particular location, fees paid to miners, and information on addresses used for a specific transaction.
4. Watch-only feature: The Mycelium wallet contains a watch-only feature that allows its users not to see outgoing transactions but instead focus on getting updates on the status of their trades.
5. Trezor
Are you looking for the best cryptocurrency wallet regarding its security features? Then, it would be best to consider using Trezor, which had established itself as a leading crypto wallet since 2014 when it was launched. Trezor is a hardware wallet that allows users to store their digital coins. Unlike software wallets, the private keys of Trezor are more secure as they are not available online. Thus, a hacker will find it challenging to access your funds if you use a Trezor wallet.
Features
1. Supports Multiple Digital Currencies: Trezor wallet can safely store a lot of digital currencies. Over 1,000 virtual currencies can be accessed in a Trezor wallet.
2.Offline-based Private Keys: Your private keys are saved offline when you use the Trezor wallet. This is because the Trezor wallet is an example of a cold wallet that allows users to save their digital keys offline on a hardware device like a USB drive.
6. Atomic Wallet
The Atomic Wallet is a great storage wallet with a lot of unique features. But, users are required to open an account before they can begin to use it.
Features
1. Responsive Customer Service: Notably, for this wallet, customer service and support are offered 24/7.
2. Supports considerable assets: This wallet also supports a sufficient amount of assets.
3. Support 300 tokens and coins: This wallet is designed to support about 300 tokens and coins.
4. In-Wallet Transaction: It also supports in-wallet conversions, exchanges, and credit card purchases.
7. KeepKey
This hardware wallet provides a top-notch solution for persons searching for a very cheap hardware wallet. The price of this wallet iscurrently set at $49.00.
Features
1. Beginner-friendly: This wallet possesses an interface with an attractive display. The interface and display are beginner-friendly.
2. Top-grade security models: Another peculiar feature of this wallet is that it possesses top-grade security models. It is referred to as one of the best offline wallets.
3. Security: The wallet offers seamless security services like generating and managing the private keys offline in cold storage. The wallet also provides security from viruses and vulnerabilities.
4. Clear and Simple display: The wallet provides a simple display that clarifies the digital assets received or sent via your device.
8.Ledger Nano X
Ledger Nano X is one of the most famous hardware wallet brands. It first gained prominence with a first name tagged the Ledger Nano S. The Nano X wallet is a sequel to Nano S as it seeks to leverage the massive success that was achieved by the Ledger Nano S wallet.
Features
1. Outstanding features: This wallet adds great features like a built-in battery, Bluetooth connectivity, and better asset management. Notably, the Ledger Nano Xprice is currently set at $119.
2. Mattle black finish: It is designed in a mattle black finish which also possesses a 128×64 pixel screen that is meant for cycling through apps.
3. Supports multiple tokens and coins: Another fantastic feature of the wallet is that it supports about 1800 tokens and coins. This is the most significant support ever by any wallet. This wallet is also designed to manage about 100 tokens or coins via its apps simultaneously.
4. Features a specialised element chip: The Ledger Nano X features a specialised element chip that provides high-end security solutions like passports and credit cards.
9. XDefi
XDefi wallet is a multi-chain wallet extension. It is a safe, secure, and fast wallet for DeFi and NFTs, irrespective of the chain.
Features
1. Storage of all virtual assets: XDefi allows you to send, receive and store all your virtual assets from a place.
2. Manage and Display your NFTs: This helps you to manage and display your NFTs. XDefi also helps you to stay connected to your Defi apps.
3. Speed and Security: XDefi allows you to enjoy the speed and security on any particular chain. XDefi is designed to require permission to it to read and write to your webpage. This is because the wallet works without any hitch on your browser. Furthermore, the wallet is secure and well tested as it doesn't store passwords, private information, and seed phrase. This means that you are in total control of your data and funds.
10. eToro
eToro is one of the best wallets for asset diversity and security. eToro is also a social trading platform, which allows you to examine, sell and buy positions provided by the eToro copy trading tools.
This wallet is licensee by GFSC, and using this wallet will also require you to use a brokerage firm that is being regulated by any of these agencies like FCA and SEC. This makes it possible for you to store digital assets in a safe, regulated, and secure space.
Features
1. Access to lost or misplaced private keys: One unique feature about the eToro wallet app is that you can regain access to your lost or misplaced private keys. All you need to do is to contact the support team, and it will be retrieved.
2. Offers trading services: This wallet features trading services that allow you to buy and sell crypto in the wallet interface.
3. Little Capital for Trading: You can only trade with a minimum of $10 via the partnership.
Notably, when you trade any currency at eToro, it is essential to pay for the spread.
Conclusion
Buying, trading, and storing cryptocurrencies in this digital age comes with many risks. This is due to the rise in cyber threats, which according to Kaspersky, is expected to grow in the year 2022 and many more years to come. Hence, you have to be cautious and meticulous online to avoid cryptocurrency cyber-attacks. An excellent way to go about this is by having a secured cryptocurrency wallet and ensuring that you do not share your private key with anyone. And this, we can help you with by advising you on the best platform to use based on your need vis the uniqueness of the selected wallet.
What do you think is the unique feature of your desired wallet? Reach out to us today and we will advise you appropriately.
