A cryptocurrency wallet is a secured digital wallet where you can store, send, or receive digital assets. It is a software program that stores your private and public keys without which you can’t use any cryptocurrency. Public keys are used when receiving funds while private keys are used when signing in.
Choosing the best cryptocurrency wallet can be a lot confusing given the number of choices available. So, what are the best Cryptocurrency wallets? Take a look at the following:
- Coinbase
Known as the world’s largest Bitcoin broker, Coinbase claims to be the most convenient cryptocurrency wallets today. It allows users to buy or sell cryptocurrencies with their credit card, debit card, or through bank transfer. Aside from Bitcoin, it also supports other cryptocurrencies like Ethereum, Bitcoin Cash, and Litecoin.
Features:
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- Supports almost all deposit and withdrawal channels
- Offers mobile and online wallet services
- Instantly transfers funds between and among Coinbase users
- Friendly user interface
Limitations:
- Accounts are monitored by the company
- Limited cryptocurrencies supported
- Longer customer support response time
- Delayed funds at times
Known as the world’s largest Bitcoin broker, Coinbase claims to be the most convenient cryptocurrency wallets today. Image courtes of Pixabay
- Trezor
Trezor is a Prague-based company which was established in 2013. It is considered as one of the most convenient and most accessible cryptocurrency wallets that exist. Compared with Bitcoin wallets that require internet connection, Trezor allows users to keep digital assets offline. It supports 1064 coins, including Bitcoin, Litecoin, Dash, Bitcoin Cash, Ripple, and Stellar among others.
Trezor offers a device that can be plugged into the computer, phone, or tablet that enables access to your cryptocurrencies. It works as a wallet, two-factor authentication device, password manager, and so much more.
Features:
- Ease of use
- Sleek and compact design
- Supports multiple platforms
- Safe and secure
- Mobile and desktop compatible
Limitations:
- More expensive
- Requires additional wallet for some coins
- Electrum
Electrum is a desktop wallet that prides itself on to how fast, easy, and secure it is. Currently, it offers Windows, Mac OS X, Linux, and Android versions and works with some hardware wallets too.
Features:
- Fast and easy setup
- Allows multi-signature wallet use
- No downtime
- Allows hardware wallet integration
- Supports client in recovering funds
Limitations:
- Supports Bitcoin only
- There was a recent security breach
- Blockchain.info
With over 15 million users, Blockchain.info claims to be the most popular and most widely accepted digital wallet. It is Android, iOS, and desktop compatible. It is a simple yet secure wallet that is widely used by Bitcoin and Ethereum owners. It offers fast transactions at an incredibly low price and is available worldwide. Registering an account is free and easy.
Features:
- Advanced security measures
- Minimal fees
- No verification needed
- Comes from an established and reputable company
- Ideal for small and regular transactions
Limitations:
- Supports Bitcoin and Ethereum only
- Does not support fiat currencies
- Limited customer support
- Exodus
Exodus is a software wallet that does not only allow users to buy or sell, but also allows exchange of cryptocurrencies. It has a very versatile design that displays real-time cryptocurrency values. It supports more than 80 coins and tokens. It features a simple interface that lets even new traders navigate easily. It also allows users to personalize their portfolio. The wallet is Windows, Mac OS, and Linux compatible.
Features:
- Powerful charting tools
- Offers a great number of resource materials for reference
- Ideal for both beginners and portfolio builders
- Allows cryptocurrency exchange
- Good customer support
Limitations:
- No two-factor authentication offered
- High transaction fee
- Does not support multi-signature addresses
Cryptocurrency wallets are an integral part of the cryptocurrency world. As the number of traders’ increase, cryptocurrency wallet choices increase as well, but sure enough, each one of them has their own set of advantages and disadvantages. At the end of the day, the best among them greatly depends on the needs of the trader.
– Written by Rachelle Regua, 2019