Even though cryptocurrencies are highly volatile, they don’t seem to go away. In fact, they still appreciate value which makes individuals think about investing. However, most people avoid the safety measurements they need to take when owning a cryptocurrency which makes them venerable.
One of the most important things when investing in cryptocurrency is keeping them in a safe place. In order to get a better idea bout safely investing in cryptocurrencies, we’ve come up with a list of the best wallets that are designed to accommodate your crypto portfolio.
Since there are many companies that offer crypto wallets and they all have different features, choosing the best one can save you a lot of money and time. In today’s article, we’ve made a list of hot and cold wallets that are great for keeping your cryptocurrencies safe.
Exodus
The best thing about Exodus is it’s easy to use interface and desktop and mobile capability. This means that you can keep track of your portfolio wherever you go. Currently, they support swaps between 100 different cryptocurrencies which means that you can purchase and store whatever you like.
This wallet is designed for beginners that are just getting into the crypto space. It has great support that can help you manage your portfolio and it is important to mention that it is a closed source wallet. This can raise some safety concerns since the code is not open for everyone to see. Instead, it is only available to the Exodus team to ensure that there are no holes in the security of their wallet.
Electrum
This is one of the original Bitcoin wallets that is used by most of the advanced crypto traders with years of experience in the market. It has been around for almost a decade, in fact, it is created only two years after Bitcoin.
The great thing is that Electrum is open source, which allows users to set custom transaction fees. Also, you can create a two-factor authentication for an extra layer of security, or a multi-signature wallet.
The only drawback is that this wallet only works with Bitcoin, so if you have other cryptocurrencies you have to go with another one.
Mycelium
This is another open-source wallet that only supports Bitcoin and it is designed for mobile users only. In some ways, it is quite similar to Electrum, and the only difference is its mobile focus.
This wallet will improve your user experience on mobile devices and it has a great user interface and a built-in exchange.
You can also set custom transaction fees and they also offer hardware wallet support which is used for offline Bitcoin storage.
If you are constantly on the go and want great mobile support, Mycelium is a great wallet to go for.
Tezro
This crypto wallet takes a rather different approach from other wallets in the industry. Basically, Tezro is a secure tool that is designed to help businesses store their digital currencies while enabling the free flow of information through multiple chat applications.
It is military-grade encryption software that adds an extra layer of security and the best thing is that you don’t need multiple crypto wallets to store your digital currencies.
This app is specifically designed to allow you full control of your portfolio and they also support crypto exchange.
On top of that, you can also send and receive encrypted messages which makes the process much easier. Read more about their wallet in Tezro blog.
Trezor
Trezor is a cold crypto wallet storage and offers many features with their plans. First of all, they offer a second-generation hardware wallet that gives users the ability to access third-party exchanges.
Their Model T utilizes a touch screen which can be easier for beginners and also has a MicroSD card slot that is encrypted with a PIN.
They also offer different models like the Nano X which comes with a USB Type-C cable that is used for connecting it with your smartphone or computer and supports almost 1,400 different cryptocurrencies. With that said, most people prefer the Model T since it has more security layers due to the lack of Bluetooth connectivity, but either way, your portfolio will be safe.
Final Words
These are some of the safest crypto wallets on the market. They all offer many features that will enable you to store your cryptocurrencies safe and have full control over your portfolio. They all have multi-layer encrypted coding that is designed with restricted access to users.
This means that they are less likely to experience hacker attacks which means that your cryptocurrencies will be safe at any time.
The only thing you should think about is if the wallet supports your cryptocurrencies and whether to choose a hot or cold wallet. The difference between them is that hot wallets are connected to the internet, while cold crypto wallets are not.
Either way, choosing a crypto wallet is the best way to store your cryptocurrencies.