Do you want to know about Crypto wallets? Are you confused about Crypto wallets?
If your answer is yes then this article is for you.
Just like our pocket wallet where we store our physical money, debit cards, credit cards, and other necessary cards, same like that crypto wallet is a wallet developed for virtual currency which will help you to send and receive Cryptocurrency.
Crypto wallet is made to store private keys. So what are Private keys? Let me explain, private keys are long hexadecimal codes which are known only to you and your wallet.
Private Keys must be matched with the public keys so that it gives you an authority to spend your Crypto. In a very simple words, Crypto wallet is a wallet which will help you to store tokens and coins at once.
Crypto Wallets are of five types and it is highlighted below:
- Hardware Wallet
- Paper Wallet
- Desktop Wallet
- Mobile Wallet
- Web Wallet
There are different wallets present in the Crypto world. I am going to provide you detail about top 7 Crypto Wallets in the world and it is highlighted below:
1.Uphold Digital Money Platform:
(Image Resource: uphold)
Uphold Digital Money Platform is a web wallet which allows you to send and receive 8 popular cryptocurrencies. It supports Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Bat Coin, Dash, Bitcoin Gold, Ripple, and Voxels. This digital wallet was established in 2013 and it was founded by a Halsey Minor and its headquarter is in Charleston. It not only support cryptocurrencies but also allows users to exchange more than 20 flat currencies and four precious metals. It is free to sign up and create a wallet in Uphold digital currency platform but you have to pay deposit and withdrawal fees.
2.Ledger Nano S Wallet:
(Image Resource: ledger nano s)
Ledger Nano S Wallet is a hardware wallet which supports Bitcoin, Ethereum, Ethereum Classic, Litecoin, Dash, STRAT, Bitcoin Cash, Bitcoin Gold, and many other cryptocurrencies. It also allows its users to store a bevy of Altcoins. The co-founder of Ledger is Thomas France. Ledger Nano S wallet is a hardware wallet which can be connected to the computer via USB. The cost of this Crypto wallet in Ledger website is about 79 Euro (Excluding VAT).
How to use Ledger Nano S wallet?
If you have this question then you must have to follow the following steps to send or receive the payment with Ledger Nano S wallet.
- At first, you have to connect your ledger Nano S wallet to the computer via USB cable.
- Now you have to select or choose a pin code.
- You must have to backup your recovery phrase.
- Now you have to install Ledger application.
- Now you can send or receive payments.
(Image Resource: trezor)
TREZOR is another hardware wallet which was the first wallet to store bitcoin. If you are planning to store a large amount of bitcoin then I will suggest you TREZOR wallet because it is safe, easy, and convenient. TREZOR is a small device which will connect to the computer via USB cable. TREZOR also supports other Cryptocurrencies such as Ethereum, Ethereum Classic, Litecon, Dash, Zcash, Bitcoin Cash, and many other cryptocurrencies and tokens. TREZOR is one of the expensive Crypto wallets, its cost starts from 69 Euro to 229 Euro, it may not be suitable to the one whose budget is tight and who don’t want to spend more.
(Image Resource: keepkey.com)
Keepkey is another hardware wallet which is a very good choice if you need offline bitcoin storage. This Crypto wallet was launched in 2015 which is very easy, and simple to use. The founder of this Crypto wallet is Darin Stanchfield. Keepkey is an HD wallet which allows you to generate and store the numerous number of private keys. Keepkey supports Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dash, Namecoin (NMC), and Dogecoin (DOGE). Keepkey can easily run on Windows, Mac, and Linux operating system.
(Image Resource: Electrum Homepage)
Electrum is a desktop wallet which is created in 2011. The founder of this Crypto wallet is Thomas Voegtlin. Electrum is one of the fastest and lightweight desktop wallet which is free. You can download it for Windows, OSX, and Linux operating system. This desktop wallet is also available for Android users in Play Store but it is not available for iOS users. Electrum supports bitcoin only, you cannot store other cryptocurrencies. If we talk about its safety then Electrum is one of the most secured Crypto wallets in the world. It allows you to set up 2 factor authentication. It also allows you to store private keys offline in a hardware wallet.
(Image Resource: greenaddress)
GreenAddress is a web wallet which was founded in 2013. This is the web wallet so you do not need to purchase any offline storage wallet, it will save your money. One of the most important features of this Crypto wallet is about its security. It allows its users to set up 2-factor authentication, and multi-signature functionality. This Crypto wallet needs third party approval before making any payments which is one of the big drawbacks of this wallet. You can easily run this wallet in the Google Chrome app and it is also developed for iOS and Android users. Same as Electrum GreenAddress also supports bitcoin only.
(Image Resource: bread homepage)
Bread is a mobile wallet which is very simple, easy, and very convenient. Bread wallet was established in 2015 by two people named Aaron Voisine, and Adam Traidman. Previously this Crypto wallet was called BreadWallet, Bread is a very popular wallet which supports only Bitcoin, it is available for both Android and iOS users. If we talk about its security then there is a huge problem. It will not provide sufficient security, it lacks 2-factor authentication and multi-signature functionality. So if you are more concern about security and you want to secure your funds then this wallet is not the best option for you.
Therefore above are some most popular and top Crypto wallet currently available in the Crypto world. You must have to do a detail investigation and research before choosing or selecting the wallet.
Do you want tips to store your Cryptocurrencies Safely?
If your answer to this question is yes then here are the top tips to store your Cryptocurrencies safely:
- Enable 2-factor authentication: Always check whether your wallet has 2-factor authentication feature or not. If there is this feature then enable it because it will provide more safety to your funds.
- Use Strong Password: I have seen many users using a simple password. Don’t make this mistake, use a very strong password so that no one can even guess it. Try to make your password at least 16 characters long.
- Use Hardware wallet: Always use hardware wallet because it is very much safe and secured compare to other four wallets. It is better to store your all coins or tokens offline rather than storing in a web or desktop wallet.
Thus, above are some tips and tricks to secure your Cryptocurrencies.
In a conclusion, Crypto wallet is a wallet which helps you to store the tokens and coins and allow you to send and receive a payment. There are different Crypto wallet present in the world. Some wallets is free whereas some needs payment. You must choose the wallet according to your needs.