It is crucial to keep your cryptocurrency safe and secure as it is catching the eye of hackers. To keep your digital currency safe, you can put it in a cryptocurrency wallet.
- It is crucial to keep your cryptocurrency safe from hackers.
- To keep digital currency safe, you can put it in a cryptocurrency wallet.
- There is a range of wallets available with different pros and cons.
- It is difficult to find all features in a single wallet.
- Before making a choice, look for a wallet that fulfills your requirements best, be it security from theft, ease of transfer, convenience, or affordability.
- Some wallets to keep your cryptocurrency safe are Trezor, Ledger Nano S, KeepKey, Coinbase, Electrum, Jaxx, MyEtherWallet.
With escalating popularity of cryptocurrency come higher chances of risks. It is crucial to keep your cryptocurrency safe and secure as it is catching the eye of hackers. Cryptocurrency is a major target for hackers because a lot of people are failing to secure their digital currency appropriately. So, you have to take extra care that your money doesn’t end up in the wrong hands. To keep your digital currency safe, you can put it in a cryptocurrency wallet.
Cryptocurrency wallets store your public and private address, using which you can send, receive and store cryptocurrency. While choosing a wallet, certain features of a cryptocurrency wallet are to be kept in mind, like:
- The cost of the wallet.
- The security track record of the company.
- The accessibility to use it anytime and anywhere.
- Convenience in making quick purchases.
- Ability to store a range of altcoins.
Carrying around your cryptocurrency safely and conveniently is no longer a distant dream. There is a range of wallets available with different pros and cons. While making a choice, you may look for the best combination of the above-mentioned features.
Wallets to keep your cryptocurrency safe
Trezor – Hardware Wallet
Trezor is one of the easiest and most convenient hardware wallets ever. This Prague based company is one of the first movers in the hardware wallet industry. Trezor is known for providing top-notch security, protecting against both virtual and physical theft. Moreover, it has a sleek design so that you can carry it around with your very comfortable. However, it is a bit expensive. Trezor is compatible with Windows, Mac OS X, and Linux. In order to use it, you can simply plug in the USB drive to your laptop and connect to your chosen interface.
Ledger Nano S– Hardware Wallet
The Paris based company Ledger is among the leaders in the hardware wallet industry. Ledger Nano S provides security in addition to being relatively low-priced compared to its competitors. It saves your data within a smartcard and protects it from malware and hackers. Moreover, it is compatible with more software interfaces than Trezor. However, it has no ability to create hidden accounts.
KeepKey – Hardware Wallet
KeepKey is a hardware wallet that secures bitcoin, ethereum, litecoin, dogecoin, dash, and namecoin. This wallet scores high on style. Its polished design makes it look like an expensive wallet but it is a little on the heavy side and hence more vulnerable to drops. KeepKey is said to be a port of Trezor’s code and firmware, so their main difference is the material. It comes with a standard, simple to use client UI.
Coinbase – Hot Wallet
The online web-based wallet, Coinbase is the beginner-friendly version of GDAX. It enables easy transfer to the GDAX exchange instantly and that too for free. Moreover, Coinbase insures 100% of your crypto holdings. If you are looking for more protection, then you can activate 2-Step Verification and Google Authenticator. The same interface also allows you to make quick purchases with fiat. However, a shortcoming is that Coinbase only offers Bitcoin and Ethereum wallets.
Electrum – Software Wallet
Released on 5 November 2011, Electrum is a fast, lightweight wallet for desktop and mobile users. The file that contains your bitcoins is protected with a password. Its various features make it most flexible wallet today. Most importantly, it offers cold storage solutions and integration with hardware wallets (KeepKey, Nano Ledger S, Trezor). Electrum focuses on speed and simplicity, with low resource usage. It uses remote servers that handle the most complicated parts of the Bitcoin system, and it allows you to recover your wallet from a secret phrase.
Jaxx — Software Wallet
Jaxx is the world’s first mobile wallet solution. It is a multi-cryptocurrency wallet that you can use through a browser, a mobile phone, or desktop. Jaxx enables you to receive your funds, scan QR code as well as view your crypto holdings. What’s more, the integration with shapeshift as well as linkage to multiple platforms wallet makes this a preferred wallet. Now, versions for iOS, android, desktop, and browser are also available.
MyEtherWallet – Paper Wallet
For those who wish to have their own private wallets, there is a paper wallet. You can simply generate your wallet online at myetherwallet.com and note your private keys. Your private information is completely safe as the website does not store or transmit it. Moreover, by downloading it from GitHub you can also run it offline, in case you don’t trust the online version. Though paper wallets are free these are not for beginners as it needs detailed knowledge to set it up correctly.
It is difficult to find all features in a single wallet. Therefore, before making a choice look for a wallet that fulfills your requirements best, be it security from theft, ease of transfer, convenience, or affordability.
Disclaimer: This is not an investment advice. It is of paramount importance that everyone should do his or her own due diligence before investing in any product, platform, tokens etc. Cryptocentral.io does not endorse any content or product published on this page. Our aim is to simply provide all the readers with the latest information in the field of cryptocurrency / blockchain industry that might be of interest to our readers.