The best crypto wallets

0
59
the best crypto wallets

Choosing where to store your crypto assets securely is a key step when investing in crypto. In this blog article, we have reviewed the most reliable and the best crypto wallets that exist.

What is a crypto wallet?

A crypto wallet is a solution that enables the storing and managing of virtual currencies. Like a traditional bank account, the wallet allows its user to spend, receive, and also exchange cryptocurrencies.

The best crypto wallets

  • eToro
  • Kucoin
  • Ledger Nano X
  • Binance
  • Bybit
  • Safe
  • ZenGo
  • Coinbase
  • Jaxx Liberty
  • Cool Wallet S
  • Coinomi

eToro Money, for secure storage

The best crypto wallets

eToro is among those companies which believe cryptocurrencies will become the currencies of tomorrow. It is with the objective of simplifying the holding of the latter that they launched eToro Money. The cryptocurrency wallet thus allows its users to store their crypto assets in a secure manner.

In summary, eToro wallet users can:

  • Buy cryptocurrencies.
  • Convert from one crypto-asset to another.
  • Transfer digital assets from the eToro trading platform.
  • Send cryptocurrency to and from other wallets.
  • Receive crypto-assets from one wallet to another.

Note that the eToro Money application is now available in several countries. It is available for download on Play Store and App Store.

Kucoin, the wallet for day trading

The best crypto wallets

Kucoin is renowned for its high level of security but also for the fact that it is relatively easy to use. Most crypto wallets offer a long-term storage system, which however limits various transactions. What makes Kucoin peculiar is the fact that it allows its users to carry out trading operations from time to time.

Thus, users of the Kucoin wallet can:

  • Exchange crypto-assets in one click since it is an exchange wallet. For example, users could carry out day trading operations.
  • Place part of their assets in a cold storage wallet and leave part of it in the Kucoin wallet.
  • Enjoy a fully secure system with two-factor authentication (2FA).

In our opinion, choosing KuCoin as a cryptocurrency storage wallet only has advantages. Moreover, due to the fact that it supports a wide variety of cryptocurrencies, operating it is greatly simplified.

Ledger Nano X

The best crypto wallets

For its part, the Ledger Nano X is the latest of Ledger’s electronic wallets. The main advantage is that it is equipped with Bluetooth, which makes it the first cold wallet that connects to iOS devices.

  • The wallet is highly secure .
  • Ledger supports over 1,300 cryptocurrencies .
  • All operating systems are supported.
  • As a bonus, it has its own operating system.

Note that its use is more secure than mobile applications since all transactions are signed with the Nano X.

Binance Wallet, the wallet with multiple advantages

The best crypto wallets

Binance is one of the largest cryptocurrency trading platforms in the world. And now, it has an open-source decentralized crypto wallet (and probably the best multi cryptocurrency wallet).

The wallet is notably accessible to all Binance users and allows them to store their cryptocurrencies there in complete safety.

In more detail, Binance allows you to:

  • Connect to several different crypto projects on different blockchains.
  • Exchange assets like BNB for other tokens.
  • Create NFTs on the network or do yield farming,

Remember: the fact that it is a decentralized wallet allows you to trade with a large number of defi tokens.

ByBit Wallet, the HD wallet

The best crypto wallets

ByBit is an HD wallet (“Hierarchical Deterministic Wallet”).

The application allows its owner to generate many private keys from a single seed (passphrase). This passphrase usually consists of between 12 to 24 words. It is saved in “Cold Storage” (a medium not connected to the Internet to avoid all possibilities of piracy).

In summary: ByBit Wallet is easy to use and allows you to regenerate the entire wallet from a single seed.

Trezor T, the reference in terms of security

The best crypto wallets

Of all the wallets that exist, Trezor is by far the most secure cryptocurrency wallet (for those who prioritize security).

To name just a few of its specificities:

  • The hardware wallet allows you to store Bitcoin as well as a thousand other crypto-currencies.
  • It has a touchscreen and color display, which greatly simplifies its use.
  • The user has a PIN code to secure his wallet and connect it via USB.
  • An offline backup of the wallet will be possible in the event of the loss of the hardware.

ZenGo, the best crypto wallet on the market

The best crypto wallets

The ZenGo app is arguably one of the best cryptocurrency storage wallets out there. Ultra-secure and easy to use, the mobile wallet comes in the form of an application and can be downloaded for free from the App Store and Google Play.

Regarding its specificities, the ZenGo wallet:

  • Ensures a good level of security for digital assets thanks to the facial recognition system or fingerprint.
  • Is a non-custodial wallet. In other words, its owner is the only one to hold a private key, even the ZenGo platform will not have access to its content.
  • Its application allows the setting up of an online backup, thus allowing the wallet to be restored to another device if necessary.
  • It is possible to set up an online backup and restore the wallet to another device if necessary.

More than just a crypto wallet, ZenGo also allows the purchase, sale and saving of cryptocurrencies. And, thanks to the application, it will be possible to follow the evolution of investments in real-time.

Coinbase Wallet, the reference in the field

The best crypto wallets

This is probably one of the best crypto wallets for those who are just starting out. The wallet is indeed perfect for those who want to store their tokens without knowing the technical details of the Blockchain network.

Thanks to the Coinbase wallet, you have the possibility to store a whole range of cryptocurrencies. The biggest advantage of this wallet is that when you are in the cloud, you do not need to download the blockchain.

Jaxx Liberty

The best crypto wallets

For its part, this crypto wallet has an intuitive dashboard. This allows new users to see all of their tokens at once.

Note that Jaxx Liberty is free to access and is available on Windows, macOS, Android, and iOS. If you want a crypto wallet that combines convenience and security, then this is the solution.

Cool Wallet S, the high-performance card

The best crypto wallets

We’ll then present the Cool Wallet S, a hardware wallet designed by the Taiwanese company CoolBitX.

Its specificity is due to its shape which unequivocally recalls a smart card and its strength lies in the fact that it can be easily connected to all mobile devices via Bluetooth.

Easy to use and definitely powerful, the Cool Wallet S allows you to spend, keep and also exchange cryptocurrencies in complete security.

To summarize:

  • The CoolWallet S allows you to manage several crypto-assets including Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), Ripple (XRP), etc.
  • The application also allows you to receive cryptocurrencies as with a traditional mobile wallet.
  • The user can also send and exchange cryptocurrency securely.

Coinomi

The best crypto wallets

Finally, we end with Coinomi, an application available on different devices: Windows, MAC, and Linux.

The strength of Coinomi lies in its elaborate security. The user can indeed save the private keys of his wallet on the device of his choice. And this is possible with the ultra-advanced encryption system that the application has.

Also, our advice is that if you are looking for software that emphasizes security to store your tokens, consider downloading Coinomi.


Types of crypto wallets

On the market, there are currently 2 types of crypto wallets:

  1. Cold wallet (physical or hardware wallet)
  2. Hot wallet (online wallet)

1 – Physical wallets (Hardware wallets)

Physical wallets are devices that keep the users’ cryptos offline. They also provide additional security against the possibility of hacking.

Benefits

  • Very high security
  • Keys are stored offline
  • A large number of supported cryptocurrencies
  • Transactions are very fast

Disadvantages

  • The price is quite high
  • No deposit insurance
  • Storage of tokens is the responsibility of the user

2 – Online wallet (Hot wallets)

Also called hot wallets, storing crypto online requires an internet connection to operate. They are available on PC or mobile devices and allow you to sell, buy or exchange your currency without difficulty.

Benefits

  • Access to your data from anywhere
  • Its use is free
  • No installation required
  • Ease of navigation
  • Customer service availability

Disadvantages

  • Reduced security
  • Private keys managed by third parties
  • Increased risk of hacking

What about securing the cryptocurrency portfolio?

A crypto wallet includes a public and private key. More concretely, the user receives a key allowing him to secure his wallet. The address itself will be used as the identifier. Let’s see this in more detail.

The public address

This is a long sequence of letters and numbers that makes up the address. Through it, users can send money to their wallets.

It is similar to a bank account number in that it is used to send money to one account only.

The private key

It is used to access the funds stored in the wallet. Thanks to it, users can control the funds linked to the address of this wallet.

As with a PIN, you must keep your private key secret and secure.

The blockchain

In addition to storing your public and private keys, crypto wallets are connected to different blockchains which allows you to check your balance, and send, and receive funds.

When you send cryptocurrency to another user, you are sending the value as a transaction.

Criteria to remember for choosing the best crypto wallet

The choice of the crypto-currency portfolio must be made according to certain criteria. Of course, your level of experience will depend on the choice of portfolio, but to make sure you don’t make the wrong choice, you should take these points into account.

Good crypto walletBest crypto wallet
CryptocurrenciesWide choice of crypto-assets.Features to efficiently switch between assets.
FeesFees can be customized.Custom fees that don’t slow down transactions.
SecurityTwo-factor authentication.Private key.
AccessEasy access to cryptocurrency wallet.Ability to continue trading if needed.
Client support24/7 availabilitygood response time and quality support.

When choosing a crypto wallet, you should also pay attention to other very important details.

Remember to pay more attention to anonymity during the verification, the reliability of protection against hacking, security, the conveniences offered, and functionalities.

Things to remember:

  • For regular use on a desktop computer, a hardware (physical) wallet is recommended
  • It is better to turn to online wallets if it is for more pronounced use on mobiles.

We also invite you to discover our guides dedicated to cryptocurrencies.

  • Where and how to buy a cryptocurrency

Conclusion: what is the best crypto wallet?

To conclude, the choice of the best cryptocurrency wallet, therefore, depends largely on your requirements and your criteria. Our opinion is that if you want to opt for an ergonomic and highly secure wallet, then ZenGo is the most suitable solution because it is simple to use and the wallet offers plenty of features.

However, remember that the preliminary step, which consists of obtaining cryptos, is just as important. It is in this capacity that eToro, for example, is a solution of choice, even for novice traders.

FAQ: All about the crypto wallet

What is a crypto wallet?

It is a service that allows you to store, send or receive cryptocurrencies.

How to create a crypto wallet?

To create a wallet, you must first create an account in a platform and follow the steps that we have detailed here.

Are crypto wallets free?

Some wallets are free, for example, hot wallets. And for others (like physical wallets), you will have to spend some money.

How to choose your crypto wallet?

To choose your crypto wallet, you must take into account security, practicality, mobility as well as the speed of operations.

What is the best crypto wallet in 2022?

Many portfolios have been able to differentiate themselves. In this article, we have given you our list of the 10 best wallets.