The article is reproduced with the permission of CoinVoice.
What is the good wallet?
Everyone interested in cryptocurrencies needs a wallet to store their assets. Since the birth of Bitcoin, there are so many kinds of wallets, which are so dazzling that some beginners have no idea how to start. So what kind of wallet is a good wallet?
First of all, you should have a preliminary understanding of the classification of wallets. The wallet is divided into the cold wallet, hot wallet, software wallet, and paper wallet. The cold wallet is completely offline, and the hot wallet must be connected to the Internet. The soft wallet is locally based but can be connected to the internet. The paper wallet can be printed or stored in a file on the local network.
Actually, each wallet has its advantages as well as disadvantages. In general, there is a lever between wallet security and ease of use: A purse that is too safe is very inconvenient to use. If it is too simple, customers will often worry about its security. In this article, I will focus on five of the dozens of cryptocurrency wallets I have experienced to discuss.
Before choosing a wallet, you need to identify your core needs for it. In general, the key factors to consider are: safety, ease of use, whether to charge, design style, additional functions.
Highly Recommend
Fox.ONE hot wallet
Recommendation Index: ⭐️⭐️⭐️⭐️⭐️
Convenience Index：⭐️⭐️⭐️⭐️⭐️
Safety Index：⭐️⭐️⭐️⭐️
Fox.ONE is a free hot wallet that can be installed in desktop, iOS, and Android. Most hot wallets require complex private keys to be stored. The innovation of Fox.ONE is that the complex private key is stored in a heavily fortified lightning DAG network, instead of being provided to users. Users use a six-digit PIN code to access their assets.
Its transaction performance is very great, which could be confirmed in seconds. The wallet is rich in currency and supports more than 50,000 tokens on 13 main chains. Moreover, as the main chain prospers, the wallet will be able to support more and more currencies, which has great potential.
For the visual aspect, I was deeply attracted by the simple and generous interface. Fox.ONE wallet also has many interesting functions, such as exchange aggregation, aggregation of cryptocurrency market, Sending cryptocurrency lucky money, investment assistant and so on.
However, once the PIN is lost, it cannot be retrieved. Overall, it strikes a good balance between security and ease of use, so I highly recommend it.
Coinbase hot wallet
Recommendation Index: ⭐️⭐️⭐️⭐️
Convenience Index：⭐️⭐️⭐️⭐️
Safety Index：⭐️⭐️⭐️⭐️
Coinbase is a free hot wallet. The sending and receiving of cryptocurrency is simple and the private key can be saved by the platform. To make your assets more secure, Coinbase has set up a security upgrade where you can activate two-step validation or multiple validations to give your assets more protection.
The overall page design of Coinbase is blue and white style, and the interaction design is very good, which is quite comfortable to use. However, Coinbase has a significant disadvantage. Currently, it only supports BTC, ETH, and LTC, and the range of currencies stored is relatively narrow.
It has a cryptocurrency exchange for beginners, which is free to use and supports the purchase of cryptocurrency in your own currency. However, it is not very friendly to users outside the United States, because it only supports American customers to buy and sell. Overall, the experience was good and I recommend it.
Electrum Software wallet
Recommendation Index: ⭐️⭐️⭐️⭐️⭐️
Convenience Index：⭐️⭐️⭐️⭐️⭐️
Safety Index：⭐️⭐️⭐️⭐️
Electrum is a lightweight Bitcoin wallet that supports online wallets. Electrum uses a new address after each transaction, which makes it difficult to snoop on your balance and payment history.
It also supports the cold wallet function. Electrum is installed on both computers. The computer connected to the Internet has no private key but only public key information. Each transaction created by the networked transaction is signed on an offline computer and then copied to the networked computer and broadcasted to the Bitcoin network. This is the price of safety, even though it is cumbersome to operate.
It is important to note that the security seeds and wallet password to backup, and it can’t be recovered if you lose it. By the way, Electrum software wallet only supports Bitcoin.
Huobi hot wallet
Recommendation Index: ⭐️⭐️⭐️⭐️
Convenience Index：⭐️⭐️⭐️⭐️
Safety Index：⭐️⭐️⭐️⭐️
Huobi is also a free hot wallet. Its private key is user-owned and not managed by any third party. For security reasons, screenshots of the Android version of Huobi wallet are banned throughout, giving Android users an extra layer of security.
The Huobi wallet is friendly to new users and takes a lot of effort to guide and help new users get started quickly. However, the currency richness of the wallet is not high. It only supports about 1,000 tokens of eight main chain currencies, namely BTC, BCH, USDT, ETH, EOS, ETC, LTC, and TRX. In the APP, you can also see the simple price of supported currencies.
The Huobi wallet has a centralized exchange function. This function is very useful for users who want to get some kind of token quickly. It can make users do not need to exchange tokens through transactions. But the exchange is still far from mature. After experiencing the exchange function, I found that the exchange time would be relatively long and the experience was average.
Greenaddress hot wallet
Recommendation Index: ⭐️⭐️⭐️⭐️
Convenience Index：⭐️⭐️⭐️⭐️
Safety Index：⭐️⭐️⭐️⭐️
Greenaddress is a free hot wallet with multiple signatures. Before each transaction is confirmed, in addition to your own private key, you also need to confirm the password of the platform. It can be used on the web, desktop, Android, and iOS.
Interestingly, it has a quick browsing mode, which allows you to quickly view your assets by connecting to any public network. In this mode, only the asset is displayed, and no key is loaded, and no transactions can be made or any configuration can be modified.
Compared with traditional cryptocurrency wallet, GreenAddress has made many user-friendly optimizations and improvements. The experience is good. However, mnemonic words and passwords still need to be kept by users themselves, and there is no way to recover them if they are lost. Generally speaking, it’s good. I recommend it.
Ledger Nano S Hardware cold wallet
Recommendation Index: ⭐️⭐️⭐️⭐️⭐️
Convenience Index：⭐️⭐️⭐️⭐️⭐️
Safety Index：⭐️⭐️⭐️⭐️
If you are serious about safety, a cold wallet is definitely your first choice. However, there will be an expense for you. This cold wallet I recommend is about $80, which is a cost-effective cold wallet. This is the smallest hardware cold wallet, which is easy to carry with a small screen.
Compared with the hot wallet, the operation of the cold wallet is relatively complex, which is not suitable for the beginners. It is more suitable for friends, who uses cryptocurrency to make a long-term investment or a large investment because this cold wallet only supports most mainstream currencies, not small currencies.
Since the wallet is offline, it will never be attacked by network hackers/Trojan horses, thus resulting in coin loss and theft. However, the risks still remain. You need to protect your hardware against loss or damage. Others believe that smaller bodies, though convenient, are more likely to be lost. In general, cryptocurrency is highly recommended for older players.
MyEtherWallet Paper wallet
Recommendation Index: ⭐️⭐️⭐️
Convenience Index：⭐️⭐️⭐️⭐️
Safety Index：⭐️⭐️⭐️
The paper wallet is free and safe, but it is not easy to use. It needs deep knowledge to be used correctly. It’s a good choice for those who want to have a very safe wallet without a hardware wallet. However, for newcomers to cryptocurrency, it is not friendly. I don’t recommend it very much.
The best cryptocurrency wallet in 2019
Everyone’s core needs are different, so it doesn’t make much sense to discuss who works best. What I want to tell you is that identifying the features you think are most important is a key step in choosing a cryptocurrency wallet. As long as you can figure out what you want, combined with my experience, you can definitely find the cryptocurrency wallet that works best for you.
I hope my article can help you.
Highly Recommend
Hot wallet: Fox.ONE 、Coinbase 、Huobi、Greenaddress
Cold wallet: Ledger Nano S
Software wallet: Electrum
Paper wallet: MyEtherWallet
