If you’re planning to get involved in cryptocurrency, you need to think about storage first. Before you even buy your first Bitcoin, it’s important to get a wallet to keep your coins. Getting a cryptocurrency wallet is, in fact, the first step to buying Bitcoin or any other crypto. But what a cryptocurrency wallet is?
A “cryptocurrency wallet” is similar to a pocket wallet or a bank account. The basic purpose of this wallet is to receive bitcoins and other cryptocurrencies, store those digital coins, and send them to others. A cryptocurrency wallet is a software program that holds your ‘private’ keys and ‘public’ keys to send and receive various cryptocurrency tokens. It not only stores your digital assets but also allows you to check your cryptocurrency balances. With the help of a software wallet, you can keep a track of your cryptocurrency holdings. So, a crypto or Bitcoin wallet is an app or device that stores your private keys- the secret codes that allow you to spend your coins.
Choosing the right cryptocurrency wallet is crucial for storing, sending, and receiving digital currency like Bitcoin. At present, several crypto wallets are available which makes it confusing to pick the best one. There are app-based cryptocurrency wallets, offline hardware wallets, and web-based services to choose from. In this post, we’ve listed the best cryptocurrency wallets available for crypto users. This list of top crypto wallets includes hardware, desktop, mobile, and paper wallets.
Coinbase is one of the top cryptocurrency exchanges that allow users to buy and sell cryptocurrency with fiat. The cryptos purchased on Coinbase can be stored in a Coinbase web wallet. It is one of the easiest platforms to buy, sell, and hold cryptocurrencies. This wallet also allows users to connect to a U.S. bank account and easily transfer dollars in or out of their wallet. However, web wallets are considered to be riskier than software wallets. This is because, in an event of server hack, you could lose all your cryptocurrency.
If you’re looking for superior security, Trezor can be the right pick for you. Trezor is a physical device and is the world’s first Bitcoin hardware wallet. You can easily plug it into your computer, tablet or phone to access your coins. This portable device has an OLED screen and you can connect it to your personal computer or phone via a USB. It has a password manager, two-factor authentication device and many more useful features. Besides Bitcoin, Trezor also supports many cryptocurrencies like ETC/ETH, LTC, ZEC, DASH, etc.
Exodus is a software wallet which is the world’s first multi-cryptocurrency desktop wallet. This free to use, desktop-only wallet, is similar to Electrum. It has no hosted servers or logs and offers great security benefits. It is also possible to exchange and store coins right in the app. This wallet supports cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, and more. When it comes to using this wallet, you don’t need any account setup, registration or identity verification. It has a simple user interface and provides excellent privacy.