Introduction
Cryptocurrency wallets are a necessary part of the digital currency ecosystem. They help you store, send, and receive digital currencies.
You must choose the best crypto wallet to ensure your digital assets are safe and secure. That’s why we recommend that reliability and security should be at the top of your list while looking for a good crypto wallet.
But with seemingly hundreds of options on the internet, how do you know which is the right crypto wallet for you?
Don’t worry! We’ve researched to bring you the safest and easiest-to-use options available out there. Without further ado, let’s discuss 5 crypto wallets that are being used by traders across the world, starting with Exodus.
1. Exodus
Exodus is a multi-cryptocurrency wallet that supports over 30 cryptocurrencies. It’s available on Windows, Mac, and Linux operating systems.
Exodus is a desktop wallet, which means you need to download it onto your computer and then manage your coins there instead of using an online platform like Coinbase or Binance.
Exodus is widely considered a “hot wallet.” Hot wallets can be accessed easily via the internet through an app or website. They’re considered “hot” because they’re connected to the internet at all times and, therefore, vulnerable to cyber attacks if not properly secured (e.g., encrypted).
Hot wallets should only be used for small amounts of money that you’ll use often since it’s easy for hackers to steal from them if they get access to them long enough.
Besides this, Exodus is a multi-asset wallet. Multi-asset wallets allow users to store multiple types of coins in one place, so they don’t have separate accounts for each coin type (e.g., Ethereum vs. EOS). This makes managing different cryptocurrencies easier because all coins can be accessed from one place instead of having separate accounts for each type.
You’ll also need fewer passwords since these are usually protected by complex passwords with letters, numbers, and symbols. Many require two layers before accessing any funds inside them: username, password, plus a pin code, every time you want to access.
Imagine trying to remember all those parameters when half asleep after being up until 4 am trading cryptocurrency!
2. Guarda
Guarda is a multicurrency wallet that supports over 100 cryptocurrencies and tokens.
It’s available for mobile devices, desktops, or even as an exchange. It also has a web wallet and hardware wallet support, which you can use to store your funds safely and conveniently.
Guarda supports most major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Litecoin (LTC), among many others. It also offers ERC20 tokens like BAT, GNT, and OMG on its platform at the moment but will be rolling out more in the coming days.
Next, we look into one of the best crypto wallets for beginners out there, Metamask!
3. Metamask
Metamask is a browser extension that allows you to interact with the Ethereum blockchain. It’s like a browser plugin for your crypto wallet, but it also lets you interact with various other blockchains and tokens. In this way, Metamask acts as a bridge between the real world and the blockchain.
Metamask works by plugging into your Chrome or Brave browsers, so all of your transactions can happen right there in your browser window. This makes it easier than ever to make payments on sites like Craigslist or Reddit (where payment options are limited) or even just buy gas for your Tesla!
Metamask is a great tool for anyone who wants to get involved with Ethereum. It makes it easy to securely interact with the Ethereum blockchain, and it’s one of the easiest ways to store your cryptocurrency wallet.
You don’t need to know too much about the blockchain or cryptocurrencies to use Metamask. All you need is an account on Coinbase, which is one of the best places to buy Ethereum right now (they also have Bitcoin).
Once you have some Ethereum, simply enter your private key into Metamask and start using it right away. It also allows you to connect your wallet to a hardware device like the Trezor or Ledger Nano S.
You can use Metamask as a standalone plugin, or you can even install it on Mist (an alternative browser for Ethereum).
Next, let’s take a look at the US’s most popular cryptocurrency wallet, Coinbase.
4. Coinbase
Coinbase is one of the most popular wallets and exchanges in the world. Coinbase supports Bitcoin, Ethereum, Litecoin, Binance Coin, and other major cryptocurrencies.
It is a US-based company that has been operating since 2012 and is regulated by the SEC. The exchange has high liquidity, making it easy to buy or sell your cryptocurrency at a fair price.
Coinbase has a great reputation and is well-reviewed on Google Play and Apple’s App Store. The wallet supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Coinbase offers 1:2 trading pairs which means that you can buy 1 BTC with 2 ETH or other supported currencies on its platform. This makes it easier for users to trade between different currencies without having to go through multiple steps like on other exchanges where you need separate accounts for each currency pair you want to trade with!
The interface is very user-friendly, so even beginners should be able to navigate their way around easily without any problems when using this platform. You can also access it from anywhere, thanks to their mobile app.
The wallets are encrypted with AES-256 encryption, making it easy to use, but it does have some downsides. First of all, it requires that you enter your personal information when signing up for an account. You can’t sign up anonymously with Coinbase; they will ask for your name, address, and ID number.
They also require photo identification when verifying your account. This might not be a problem if you are already comfortable providing this information to companies like Facebook or Google when signing up for accounts on those platforms.
Next, we’ll look into Electrum, a lightweight cryptocurrency wallet.
5. Electrum
Electrum is a lightweight wallet, which means it doesn’t take up much space on your computer. It’s also easy to use because it doesn’t require installation – just download and run the program from its folder on your computer.
Besides this, it also allows you to create and sign transactions with your private keys and then broadcast them to the network.
Electrum is free and open source, meaning you don’t have to worry about who’s behind it or what kind of data they’re collecting from your use of their products. You can even audit their source code if you want!
For more advanced users who are comfortable using command prompts (or aren’t afraid of them), Electrum also offers CLI commands for more advanced actions, such as cleaning up old addresses or creating new ones with vanity addresses like “1Billionaire”.
The Electrum wallet is available on all major operating systems, including Windows, macOS, and Linux, and is one of the best crypto wallets for Android. It also allows you to connect your wallet to a hardware device like the Trezor or Ledger Nano S.
The best part about using Electrum is that it gives you complete control over your funds and also supports multiple currencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Binance Coin (BNB).
Finally, let’s learn more about a noteworthy mention that is fast gaining popularity worldwide, Crypto.com
6. Crypto.com (BONUS!)
The Crypto.com wallet offers several features that make it incredibly easy to use and secure. It’s got support for over 25 cryptocurrencies and has a built-in exchange that allows you to convert between them at any time.
This makes it easy to use if you have an iPhone or Android phone. It also has great security features, which are important for any cryptocurrency user. You can use your fingerprint to unlock the app, and there are two-factor authentication options as well. The wallets are encrypted with AES-256 encryption.
Crypto.com offers users an option to buy cryptocurrencies through their credit card or bank transfer. This wallet also has a great user interface and many different cryptocurrencies available for storage.
It offers ERC20 tokens like BAT, GNT, and OMG on its platform at the moment but will be rolling out more in the coming days.
Crypto.com is one of the best crypto wallets for iPhone. It is available as an app on iOS and Android as well as online wallets for desktop computers or laptops running Windows OS or Mac OSX operating systems (Mac users must download the MetaMask extension).
These crypto wallets have great reviews, friendly user interfaces, and are safe.
The cryptocurrency wallets we’ve mentioned come with mobile apps that allow you to perform transactions on the go.
With these wallets, you can store most of your favorite popular cryptocurrencies securely. Their wallets support multiple currencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Binance Coin (BNB).
As mentioned at the top, safety should be your number one priority when it comes to storing your digital assets, and these wallets make sure that you can do so without excessive risks of hacks or data breaches stealing your funds!
Conclusion
We understand that with the thousands of options now available on the market, it can be incredibly difficult to choose the best crypto wallet for you. Especially when it comes to the safe storage of your valuable digital assets, you only want to go with the most tried, tested, and reliably proven options that are out there.
We hope this article helped you decide which crypto wallet is right for you. If you still have questions about how to choose a wallet, feel free to reach out and ask us anything!