The most secure crypto wallets
If you still think that a crypto wallet is an account where you store digital currency, you are wrong. The crypto wallet does not store bitcoin, it is stored on the blockchain, and you need to use your private keys to access your cryptocurrency wallet. The keys in the wallet provide this access and allow making transactions.
To trade crypto, you first have to choose the type of wallet to store your private key. There are hot storage wallets and cold storage wallets. A hot wallet is an app connected to the Internet. Such software wallet is connected to public and private keys to accelerate transactions. However, it is more prone to cyberattacks due to being constantly online.
A cold wallet is also known as a hardware wallet, usually in the form of a USB stick. It provides offline storage of keys and is more secure because hackers should physically possess it to access your mobile wallet.
Choosing the best bitcoin wallet, consider crypto wallet security, accessibility, and ease-of-use features. Here is a review of the best cryptocurrency wallets.
EXODUS – best for multi-crypto holding
This hot storage wallet provides more than 180 cryptocurrency assets. It is a hybrid wallet, so you may control your assets using android and ios devices and desktop apps. It has a user-friendly design and is perfect for beginners.
It is worth mentioning that Exodus can sync with hardware wallets like Trezor wallet. That ensures more safe storage offline. Moreover, you can trade cryptocurrencies directly from the app without using a centralized crypto exchange or having to withdraw.
COINBASE – best for beginners
Coinbase wallet supports more than 500 cryptocurrencies in more than 100 countries. Intuitive design is suitable for beginners. Furthermore, the Coinbase wallet is non-custodial. It means that you store your key on a device but not on a server. This contributes to higher security and the elimination of cyberattacks.
Moreover, optional cloud backups of keys are possible for better security. One more point in security is multi-signature and two-factor authentication, one of which is biometric.
MYCElIUM – a reproducible wallet
Mycelium wallet is one of the oldest but still popular bitcoin wallets. It is suitable for mobile devices and has advanced transaction history, a handy address book, and a focus on the security of your digital assets. Nowadays, it supports Bitcoin, ERC-20, and ETH tokens.
It is a reproducible app – the original code can be audited for any potential security issues. Moreover, there are several pin-protection levels. In addition, it supports hardware wallets.
TREZOR – best for security
Trezor ensures secure cold storage of digital keys, cryptocurrencies, passwords, and others from theft and hacking. It supports more than 1800 currencies and can store an unlimited number of wallets.
Trezor wallets are an excellent solution for those who want to keep crypto-assets far from the Internet. The top-notch security of the wallet is guaranteed. Physical confirmation if required to verify transactions. So being offline, your wallet costs are not prone to internet vulnerabilities.
LEDGER hardware wallets
One more hardware wallet allows trading from 1800 ( for Ledger Nano S) to 5500 (for Ledger nano X) cryptocurrencies from phone and desktop apps, so it is compatible with numerous software wallets.
It can be connected to your device with the help of Bluetooth or USB. The high-level security is ensured by a secure chip and Blockchain Open Ledger Operating System. Moreover, it is a physical device, so it will be difficult to hack. For buying Altcoin, for instance, it is required to press two buttons simultaneously, so it is impossible to crack.
It is up to you which wallet to choose and consider the best crypto wallet. We want to give you some advice concerning safe storage:
- do not keep considerable sums in your wallet;
- make wallet backups to protect yourself from computer or phone failures;
- encrypt your backups;
- use reliable passwords at least 16 characters long;
- do not forget your password, not to lose your money.
Be smart and stay safe – use the best crypto wallets!