Interest in cryptocurrencies is accelerating with explosive speed
The number of cryptocurrencies has exploded in the last few years and has reached around the 1,600 mark as of spring 2018.
Moreover, the quantity of crypto apps, wallets and crypto related questions is growing.
One of the most googled questions is: which crypto wallet is the best?
So, let us answer.
Crypto Wallet: What Is It All About?
To put it simply, a cryptocurrency wallet is a “place” that lets you store, receive, and send your virtual currency.
Rather than actually holding digital currency, it holds the private key allowing cryptocurrency users to access their Bitcoin address.
Cryptocurrency wallets are generally simple to set up and use.
Whether you want to buy/sell cryptocurrencies or just have cryptocurrency, you’ll need to have a wallet account.
There are different types of wallets, but if shortly, your digital wallet can live on:
- Your mobile device
- Personal computer
- Physical storage gadget
- On a piece of plastic, paper, or metal
Types of Crypto Wallets & Basic Info
For those who want to dive into crypto, a secure wallet is a must.
Each wallet type has to be observed attentively in order to determine the main advantages and disadvantages of each of them and protect your currency from cyber-attacks, malware, etc. Nowadays, 5 types of crypto wallets are available for customers.
I. Hardware wallets are great for long-term storing of your digital currency.
They are the same as regular wallets, but consist of a digital device for operating your account. Compared to other options currently available in the market, hardware wallets have a high price tag. But they do offer great value.
They guarantee excellent security; they’re fancy and stylish.
II. Online wallets are affordable, easy to use, and easy to access from anywhere around the globe.
Basically, you only need internet access to perform various operations.
You can operate your online wallet through your laptop, computer, iPad, tablet, and smartphone.
III. Mobile wallets are very famous today.
They work on the same principle as online wallets and have the same benefits, but they work only on your mobile device.
As a rule, a mobile crypto wallet features a QR code scanning option, and, of course, it’s easier to “carry” compared to PC, laptop, or hardware wallets.
IV. Desktop wallets are pretty much the same as a file in a computer.
They are mostly totally free and don’t use the hosting space of the company.
The main advantage of desktop wallets is that they guarantee the minimum risk of getting hacked because they need no internet connection for operation.
Desktop wallets are pretty reliable until you mistakenly remove the file or your PC gets infected with a virus.
V. Finally, Paper wallets.
Though they sound weird and old school, they are obviously one of the most secure ways of storing digital currency. They guarantee almost zero risks of hacking and do not require any digital device to store your virtual currency. A paper wallet is actually a piece of paper, plastic, or metal with the private key of your cryptocurrency.
Using a paper wallet is as easy as ABC: when you need to make the transaction, you type the complete key.
Their only drawback is that they need protection from physical damage (even an incorrect type of a printer may damage your paper wallet).
And, of course, if a potential hacker discovers the location of your paper wallet, they can access your cryptocurrency assets.
Here’s a list of Top 5 Best-in-Class Crypto wallets for 2018:
- Ledger Nano S – a compact USB-sized cryptocurrency hardware wallet – is currently one of the most popular wallets in the cryptocurrency world.
Ledger Nano S is jam-packed with features that you won’t find in any other crypto wallet. You don’t need to have a PC to use this wallet.
The tiny LCD screen allows you to carry out transactions, transfer money, exchange cryptocurrency, use the related applications, etc.
In case of lost, you’ll be able to get the backup and block thieves to get access to your account.
Main features:
- Multi-currency support: allows for storing several different cryptocurrencies at the same time
- Built-in LCD display
- Easy to use
- Security: allows for locking the wallet with a PIN code
- Backup and restoration: the recovery sheet is provided; the restoration process is fast and easy
- Ledger Blue – is a more advanced version of Ledger Nano S.
Besides a bigger size and stylish look, it offers more new options never seen in other crypto wallets. It looks like a mini iPad and features the touchscreen, USB connectivity, and Bluetooth.
The onboarding option allows you to control the wallet, while the setting option lets you set which suits you best and make backup quickly and easily.
Important security features:
- Dual chip architecture technology for ultimate digital currency protection
- Completely malware proof: secure from hackers and viruses. Cannot be exposed to someone else.
- PIN Code: you can set the 4-/8-digit PIN code for unlocking your wallet
- Multi-currency support: allows for storing several different cryptocurrencies at the same time
- Coinpayments – is a web-based online cryptocurrency wallet which allows for storing over 7 hundred currencies in the online wallet account.
One of the best things about Coinpayments is visibility.
Its payment has been accepted by numerous online stores.
It means that you can use your virtual currency from your Coinpyments wallet account to buy things online.
Features:
- Integrated BitGo: makes payments very fast (especially related to the Bitcoin)
- Mobile application: Coinpayments has mobile apps. Can be used on all major OSs
- Vault: this feature makes the process of money difficult and requires a specific amount in your account to withdraw currency
- Multi-Coin wallet: allows for storing multiple digital currencies with no limit
- Acceptable: the money stored in the Coinpayments wallet can be accepted by numerous online stores
- Exodus – is an advanced, colorful, easy-to-use web-based crypto wallet that will come in handy both for novice and experienced crypto investors.
In addition to a bunch of advanced features, Exodus boasts exclusive design.
Main features:
- 1 click exchange: Fast transactions. You can exchange your digital currency with the help of 1 click
- Multi-currency support: allows for storing several different cryptocurrencies at the same time
- Security: Exodus stores all data on your PC, not on the Exodus server
- Absolutely free for everyone
- Attractive design
- TRASTRA crypto wallet. TRASTRA is a blockchain banking that has web and mobile apps which allow users to store, receive and send crypto.
Currently, you can use TRASTRA crypto wallet to store Bitcoin and Ethereum.
Moreover, soon you’ll be able to use it with Dash, Litecoin, Ripple, Bitcoin Cash, Zcash and connect it to TRASTRA Debit Card.
Main features:
- All your transactions and events are seen in internal dashboard (Activity Log)
- All wallets are Multi-Sig and have 2FA (2-Factor Authentication)
- All devices should be authorized by an e-mail
2018’s Best Crypto Wallets
Caution: Take your time to understand the difference between different cryptocurrency wallets in order to safely store your funds and get reliable protection from the scam and fraud.
Be careful when choosing a personal cryptocurrency wallet for your assets.
If you go with the wrong cryptocurrency wallet, you risk losing all your money.
We do not insist on using crypto wallets listed in this article, we only make a list of best (to our mind) of all existing options.
We hope this article was useful for you.
