Cryptocurrency does not exist in reality but is instead a currency in digital form stored in crypto securely wallets for users and is used for online purchases of goods and services. Users with wallets can receive, spend and trade cryptocurrencies via their wallets with other users.
Cryptocurrency wallets ensure that only the user owning the wallet can access the funds with password protection and other security measures. Every user has private and public keys a requirement to transact. Private keys are not shared and meant for the user, whereas you can share public keys to perform transactions.
Different variations of cryptocurrency wallets are available, providing single and multi-asset solutions enabling users to possess multiple cryptocurrencies. Some of the most commonly used currency is bitcoins, which is widely used.
There are many crypto wallets currently available online, all with their pros and cons; therefore, it is necessary to know this to choose the most suitable wallet for you.
According to a research done by mycryptoparadise, here are the 5 top crypto wallets that every investor should consider in 2021
Coinpayments is a web-based digital currency wallet that gained popularity after allowing an excess of 1200 cryptocurrencies to be stored in their online wallet account. No registration fees are required as these services are free. This web service instead cuts on the transaction fees upon transacting to another account via their wallet account.
Coinpayments online visibility is one of its perks. It is accepted widely in online stores meaning that you can purchase items online via your account aside from using it for trading purposes.
Online wallets are not immune to hackers; if security is not enhanced, they are prone to hacking. Coinpayments considers users and has in place excellent security features for this. Other features are
- Vault: there is a vault feature implemented to protect from hackers. Requiring users to have a specific amount in the account for withdrawals makes it harder for hackers to hack into accounts and conduct transactions.
- Multi-coin feature: with this, you do not need multiple accounts on different wallet platforms as you can store multiple limitless currencies
- Acceptable: Many online scoters accept money stored in coin payments wallets for shopping purposes
- Mobile app: primarily a web-based platform, they have mobile apps in IOS and Android hence enhancing its portability
Ledger Nano is a hardware wallet, USB sized designed for cryptocurrency. Hardware wallets are expensive than online wallets; however, there are more advantages than online wallets in terms of security and essential private backup for your currency in case of a loss.
To use this device, you do not have to use a computer as it’s equipped with a small LCD screen at the front allowing for easy operation of the device. You can transact, transfer and exchange your currency from your account in seconds.
- Built-in display: With an inbuilt LCD screen, you can physically see transactions on the go without the need to plug it to computer
- Multi-currency support: almost all popular cryptocurrencies are supported by this wallet, enabling you to store more than one simultaneously.
- Backup: restoration of your money is easy and fast in case of loss, this is due to the recovery sheet available I the device
- Secure: there are various options to secure your wallet with a PIN code preventing unauthorized access
This wallet supports over 40most popular blockchains and their over 1000 tokens. Guarda wallets’ multi-platform capabilities make it easy to transfer and manage digital currency easily. This wallet is currently available in various versions: Desktop application available for all operating systems, web-based, chrome web extension and mobile all (android, iOS)
This multi-platform feature enables access to your wallet via any device that has internet connectivity. Apart from this, they offer a range of single-currency open-source mobile wallets.
Gurda provides Custody-free wallets. This means that the company does not store user’s private keys and personal data and the company does not use this in any way, enhancing token-security and preventing possible chances of information leakage
Main features include:
- Complete control by the user over their private keys and assets:
- Cryptocurrency purchase via credit/debit
- In-built cryptocurrency exchange
- 24/7 customer support line: With a dedicated team of customer care agents, you get help in case of problems using the platform
- Securely encrypted wallet backup: With a strong emphasis on security, using this wallet, you can be sure of the safety of your money. This is through encrypted storage of your wallet
- Cross-platform accessibility: Guarda has support for almost all of cryptocurrencies currently available and also allow storage on the same wallet
Also, a multi-currency and custody-free wallet supporting over 300 tokens and coins. With a mnemonic speed, you can quickly secure exchange, buy and manage cryptocurrency with their easy to use interface. You can read here for more
- Free to use: Atomic charges are freeware, and there are no charges. This is suitable for users on a budget
- Secure: Atomic guarantees and ensure your money is secure as only users have full access to their funds. With password protection and on-device intelligence storing your private keys on your preferred device mobile or computer
- 24/7 support: With an average response time of 1 hour by their support staff available 24/7, you can get quick assistance in case of an issue.
With the recent IOS release in 2019, an atomic wallet is now available for most devices, including android, windows, and macOS.
Exodus has invested a lot in its graphical user interface as seen upon visiting this platform. If graphics is a key element in your choice, you should go for this. With a colourful interface, easy to use reporting system dashboard an advanced graphic feature. Most other wallets also have the same features; however, exodus style features exceed them all in terms of design and penetration style
Aside from design, exodus website has other qualities that you would be looking for in a web-based platform.
Exodus has a wide range of features. Here are some of their features complete list is available on their website.
- Extra security features: exodus is both an online and online platform, and for this, security is guaranteed. Users create a digital currency wallet through their website, and information is not stored on their servers but on your device. For this, security is assured as hacking chances are significantly reduced.
- Cost: Exodus is not entirely free, as there are premium features (optional) that users purchase; however, the free plan users can have access to more wallet features.
- Design: Their design interface greatly influenced exodus popularity. With little technical knowledge, users can easily use the website and get their cryptocurrency information.
The Bottom line
Demand for digital currency is growing by the day as evident with the growing popularity of cryptocurrency for online purchases. You can always check mycryptoparadise for more insight into this. You can also check out a recent article on bitcoin wallets by clicking here to better understand suitable wallets available out there.