Cryptocurrency is a digital currency that does not have any central authority responsible for your safety and security. Therefore, this makes you think about the best bitcoin wallet to provide you with much protection against unusual activities in your crypto account.
According to the reports of forbes.com, crypto traders store the coins by creating multiple accounts on crypto wallets. Also, crypto wallets support most Bitcoin, and some only handle Ethereum.
If you lose your crypto, then it may become a difficult situation and you can’t find the way to find it. There are lots of crypto wallets in the market that can help you to store your crypto. Therefore, to solve this problem you will know about the best bitcoin wallet.
In this article, we have discussed various crypto wallets for storing cryptocurrencies. So, you just need to read this article completely to know how to select the best crypto wallet and understand much about the topic.
Table of Contents
Why You Need To Have The Best Cryptocurrency Wallet
The best Crypto wallet keeps your assets safe and under custody which can help to be saved from future losses. So, here are some of the factors which make it important to have a cryptocurrency wallet.
- Security: Security are the main factors for protecting your digital assets. The wallet is more secure if it is strongly encrypted, has security measures, multi-factor authentication, etc.
- Backup & Recovery: The wallet platform is the best which provides backup & recovery. With the help of this, you can easily restore the state in case of loss when occurred.
Best Bitcoin Wallet: Top 7 Best Cryptocurrency Wallet You Can Use!
It can be tough to select a wallet that is best for keeping Cryptocurrency. Therefore, following the information as told in the article can help you to easily know the top 7 Best Cryptocurrency Wallet.
1. Metamask Wallet
The metamask wallet is a popular Ethereum wallet in the world that was created by consensus. It is blockchain software for a company focused on Ethereum infrastructure. This was launched as a desktop browser extension for Google Chrome and Firefox in 2016.
In September 2020, metamask released its mobile app for IOS and Android devices. The mobile wallet app offers the same features as the desktop extension. This is a secure and solid option that we can trust.
It has some additional benefits such as biometric security, an adaptive browser, and the wallet can connect through a QR code.
The metamask mobile app allows users to use the same decentralized applications directly from the app without having to connect through multiple apps.
2. Blockchain Website
Blockchain.com is a reputable crypto exchange that has been operating since 2011. While the wallet app was released back in February 2013. This makes it one of the oldest crypto wallets to date with more than a decade of history.
Now, the blockchain.com wallet app claims to be a one-stop shop for all things you need in crypto and this is because they combine a lot of exchange features with the same app as a hybrid wallet.
When you first set up the wallet you’ll need to create both an email and password login as well as a backup recovery phrase.
The email account gives you access to the blockchain.com crypto trading features. While the recovery phrase sets up your D5 wallet which is for self-custody. It is the only app that provides you with both an exchange and a wallet within the same platform.
This is great for beginner crypto users who are not so familiar with soft custody and seed phrases but still want to explore setting up their wallets.
3. Exodus Wallet
Exodus is a top wallet choice in the industry which was founded in 2015. They have always been a company dedicated to creating crypto wallets and they have a wallet for the web browser, desktop, and mobile app.
The Exodus app is a multi-currency wallet that allows you to manage the swap and buy over 260 native cryptocurrencies. Since it supports all the major blockchains based on the Ethereum stack. You can also add custom tokens and nfts to support a limitless number of tokens.
It doesn’t just stop at the Ethereum ecosystem but other layers 1 technology like Cardano, xrp, Solana, polkadot, cosmos, near, hedera, etc are all supported in the wallet.
This makes Exodus truly a multi-currency and multi-network wallet, not just one that only supports tokens in the Ethereum ecosystem.
4. Bittrex Wallet
Bittrex wallet is a crypto wallet that provides you with a secure and safe wallet. It gives wallet service by primarily acting as an exchange. Here, you can trade various cryptocurrencies and enjoy the best crypto trading features.
It is a trading platform listed among the top cryptocurrencies wallet. You get to experience a quick availability of coins. Therefore, They are specially designed to provide you with a secure connection that helps from unauthorized access.
5. Trust Wallet
Trust Wallet was launched in November 2017 as an open-source project. The founder’s goal was to create a simple and secure wallet that would support all the available cryptocurrencies and enable users to access the growing ecosystem of decentralized applications.
It quickly gains traction among crypto enthusiasts who appreciated this user-friendly interface with high-security standards and a wide range of coin support. However, trust wallet really started to take off in July of 2018 when acquired them.
Binance recognized the potential of trust wallet as a gateway to the decentralized web and decided to invest in its growth and development. It also has a trusted wallet as its official mobile wallet prompting Binance users to download and use this wallet from the Binance exchange.
6. Coinbase Wallet
Coinbase wallet is a self-custody crypto wallet that helps to control your crypto keys and data. It offers a similar user experience to that of blockchain.com and the home screen makes it simple by building a beginner-friendly interface.
Coinbase wallet and the coinbase exchange are two different platforms. We are discussing its main features on the homepage which are the standard for sending, receiving, and buying coins.
Since coinbase is a well-established exchange that can link your coinbase account with your coinbase wallet.
This allows you to easily transfer coins between the two apps and allows for easy buying and selling without having to use a separate exchange. Coinbase Wallet also has an advanced web3 browser feature.
7. Electrum Wallet
This wallet is an open-source software that is intended to specially store Bitcoin. This wallet was released in the year 2011 and made a great reputation in the market. You can easily manage your wallet by using bitcoin funds which are compatible with many devices.
It is a desktop wallet that is similar to Exodus which allows high-speed processing. It’s cold storage that allows you to store currency. Also, you can recover your currency with the help of an app if a loss of computer occurs.
What Is The Main Purpose Of A Crypto Wallet?
The main purpose of a crypto wallet is to store your currency to be protected from being stolen by hackers. There are various crypto wallets you can use to store Cryptocurrency and provide safety to your account.
The crypto wallet works similarly to how we use our bank to hold our money. This way you can use a crypto wallet for holding your cryptocurrency. Therefore, this is the reason you require a wallet for your cryptocurrency.
Is A Mobile Wallet The Same As Mobile Money?
No, a mobile wallet is not considered to be the same as mobile money. Therefore, they both only vary in their meaning in accordance with the use and they only differ in the form of money.
A mobile wallet is an encrypted software that helps to store and manage the broad information of your account. To connect with companies, you need to do registration to verify your identity. Once approved, you can easily manage all things of your accounts.
While, mobile money is a digital currency that you use on your mobile devices to pay bills, payments, purchases, etc with the help of P2P cash transfers. This makes a bit of difference which you need to understand about both of them.
Wrap Up On Top 7 Best Cryptocurrency Wallet
Here, we discussed the best Cryptocurrency wallet which you can use. Therefore, the wallets that are told above are the picks according to the functionalities and user’s use cases they offer.
We hope the information provided in this article is helpful to you. For further loss, you must also visit those wallets and understand all about their platforms. This way you will be successful in finding the best for you.
The number one advantage of using a mobile crypto wallet is its convenience and easy setup. So, it’s great for a beginner as the mobile wallets do give you full control over your funds, unlike an exchange.
This makes you a controller of your own bank and you don’t have to rely on third parties or intermediaries to access your money. This makes them safe compared to desktop or web wallets and other types of hot wallet. Due to the advancements in mobile encryption and biometric looks.
Lastly, we hope this article helped you to know the best crypto wallet. For getting more helpful articles, you must check our website regularly. If you have any questions that arise in your mind related to the topic. You can also drop a comment below and let us know about it.
FAQ: Top 7 Best Cryptocurrency Wallet
After reading this article, you may have questions in your mind related to the topic and you may try to look at Google by searching the questions. Therefore, we have selected the important questions and answered them all in the FAQ Section.
Q1. Do you really need a crypto wallet?
Ans: Yes, you need a crypto wallet if you are involved in cryptocurrencies which helps to store, send and receive them. This mainly provides security, control, access to crypto, and offline storage options.
Q2. Is crypto grow in your wallet with time?
Ans: No, crypto doesn’t grow in your wallet and it depends on many factors. It grows when the value of a crypto you hold increases with time. This will make you gain profit if you have crypto at that time.
Q3. Do crypto wallets provide safety and security?
Ans: The safety and security of your crypto depend on your security practices and the company you select. Therefore, there are various types of crypto wallets that you need to look for their respective security levels.