Top 5 crypto wallets for crypto enthusiasts to explore
With the crypto market becoming volatile these days, investors need to ensure that their assets are secure. Therefore, investors should be vigilant enough to store their crypto assets securely.
As trading involves the buying and selling of assets, one must ensure that their funds are not hacked or scammed out of millions. Here, a crypto wallet comes in handy, which, in theory, stores public and private keys for cryptocurrency transactions. Apart from storage, it also plays the role of encryption and storage of confidential information, which should only be accessed by the holder of the token or wallet.
So, in this world of multiple crypto wallet offerings, how do you determine which wallet provider is reliable and which is not. Let’s explore some of the best crypto wallets that investors around the world turn to for these essential functions.
Related reading: Tether opens the Latin American market with peso-pegged stablecoins
Often the challenge for crypto beginners is their inability to store and support their crypto assets on a reliable platform. Coinbase is a solid solution for crypto beginners, mainly because of its intuitive and secure wallet service.
The budget wallet service makes it simple even for those with no cryptoverse experience. The wallet can connect to central banks and has an interface consisting of a simple three-tab layout and identifiable functions.
The best part of the Coinbase wallet is that it can even store NFTs and support over 500 crypto assets, making it one of the biggest among hot wallets. Users can access the Coinbase wallet without opening an account with Coinbase. Not being a trustee, it protects the user’s array from any form of hacking or attack.
As another hot wallet provider, MetaMask is primarily used by DeFi users and those involved in the Web3 economy. Boasting a user base of over 30 million users, the MetaMask is compatible with almost all major DEXs and DApps.
With seamless installation on mobiles, users can trade or buy cryptocurrencies such as Ethereum, Polygon, Binance Smart Chain, etc. MetaMask also has limitations. That said, a backstory of MetaMask is that it does not support cryptos such as Bitcoin, thus limiting its offerings.
Another exchange that offers a top notch wallet service provider is the Crypto.com Defi Wallet. With the Crypto.com wallet, Defi users get full access to digital assets through a private key, and it manages to secure the wallet.
With the Crypto.com Wallet, users can trade cryptos on a one-to-one basis and access a wide range of tools for earning passive income and other features not typically available to regular custodial wallets.
Users can download their Crypto.com Defi Wallet by creating an account on the Crypto.com exchange and managing their assets through the wallet service.
Related reading: What to expect from the Terra Luna Classic (LUNC) airdrop?
Electrum is one of the oldest and most reputable crypto wallets. Launched in 2011, the crypto wallet is one of the few wallets that offers exclusive Bitcoin services. User fees depend on how long they are willing to wait for transactions to be processed.
Another key feature of the Electrum wallet is that it offers its users security features such as two-factor authentication and fund recovery.
Due to its lightweight nature, the non-custodial wallet only downloads parts of the blockchain.
Nano X register
The Ledger Nano X wallet, which supports over 5500 digital assets, is primarily a cold wallet. It offers its users private keys and boasts of being safe from hacks or malware. Armed with an EAL5+ CC chip for security, the wallet app allows users to download it to their mobile devices using their Bluetooth app, from where users can manage, lend and stake their crypto – safe coins.
Risk Disclosure: Cryptocurrency trading involves high risks, including the risk of losing some or all of your investment amount, and may not be suitable for all investors. Cryptocurrency prices are extremely volatile and can be affected by external factors such as financial, regulatory or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade financial instruments or cryptocurrencies, you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience and appetite for the risk, and seek professional advice if necessary. Kalkine Media cannot represent and does not warrant that the information/data available here is accurate, reliable, current, complete, or suitable for your purposes. Kalkine Media declines all responsibility for any loss or damage resulting from your interactions or your reliance on the information shared on this website.