Here are the Top 6 Places to Store Cryptocurrency.
The wonderment of cryptocurrency has reached an all-time high — creating spin-offs to the “blockchain revolution.” For those of you lucky enough to have crypto savvy friends, you may have already learned about where and how to store digital currency. Meanwhile, the rest of the world is getting up to speed and is curious about the crypto wallet that “stores your private keys, keeping your crypto safe and accessible,” according to Coinbase.
Before we dive into the essential “hot list” best options to store your digital coins, let’s review the basics. As per Coin Mama , “the main difference is that with a conventional bank account, your account number is public and is directly linked to your identity, but your transactional history is private. With crypto wallets, your transactions are public, as well as your account number (public key), but there’s no way to link a particular address to you.”
Below is a list of hot vs. cold list crypto wallets on the market today, but before you begin, it’s best to understand the difference between the two. Bitdegree describes it best: “Hot wallets are digital cryptocurrency wallets, while cold wallets are physical devices that store cryptos inside of them.”
Maiar wallet is a digital wallet and global payments app, credited for shifting the market by empowering the exchange and secure storage of cryptocurrency on your mobile phone to “create a wallet in seconds.”
Coinbase wallet offers one of the most straightforward ways to purchase, sell, and retain cryptocurrency. As a user, you can deposit or withdraw cryptocurrency, although you will not be allowed access to the private keys retained on this exchange. If your investments are causing you anxiety, swap your time for cryptocurrencies by joining Coinbase Earn. You could even watch a few videos or take a quiz in exchange for cryptocurrencies. WIN!
Metamask wallet allows you to buy, store, send and exchange cryptocurrencies. This digital wallet has created an edge by providing all its services through a secure browser that comes with a key vault, secure login, token exchange, and wallet.
Trust Wallet (acquired by Binance in July 2018), allows users to send and receive cryptocurrency via secure QR codes. Users have the added benefit of trading directly, using the Trust Wallet within the Binance Exchange.
According to Investopedia “the way we keep cash or cards in a physical wallet, bitcoins are also stored in a wallet — a digital wallet. The digital wallet can be hardware-based or web-based. The wallet can also reside on a mobile device, on a computer desktop, or kept safe by printing the private keys and addresses used for access on paper.”
Now that you understand the basics, here’s our take on the best hardware wallets the market has to offer:
Trezor is known as “the private bank in your hands” — one of the initial hardware wallets with a high level of credibility. User-friendly, this tangible wallet is with specialized firmware that keeps all transactions secured, supported and protected.
Ledger hardware wallet is designed for traders of all levels, from the rookie to the expert. It supports an extensive range of cryptocurrencies, with security that is comparable to the secure chip used in credit cards today.
Ultimately, when you invest in cryptocurrencies, it’s imperative that your investments and transactions are protected and encrypted. Whether you elect to go with a web-based wallet, hardware wallet, or both, so many benefits and features come from using a reliable crypto wallet. Investing in a crypto wallet is a long-term plan that directly ensures the safety and security of your cryptocurrency investment. When you invest smart, you play smart.
