5 Things to Consider When Choosing a Crypto Wallet

Published in

The Capital

3 min readDec 20, 2021

While there are many crypto wallets available in the crypto ecosystem, it may be challenging for new crypto investors to identify a suitable wallet for their crypto holdings.

Some of the questions you need to ask yourself before deciding on the type of wallet you need include whether you need access to the crypto wallet daily, the number of cryptocurrencies the wallet can hold, backup features, the charges among other factors. This will not only save you from falling into the trap of unscrupulous platforms but also guarantee better safety features.

Here are some of the factors that you should consider before choosing the right crypto wallet.

Variety of Cryptocurrencies

Different cryptocurrency wallets support multiple cryptocurrencies. For example, some wallets only support one type of cryptocurrency while others support multiple mainstream altcoins.

With that in mind, you need to be familiar with various types of wallets and the currency they support. In this case, you can consider the Defix Wallet to not only secure your crypto holdings but also have access to a variety of cryptocurrencies.

Crypto Conversion

A crypto wallet that allows the conversion of one crypto to another is an ideal choice. This is a perfect feature associated with the Defix wallet. The wallet comes with a shapeshift feature which makes switching from one crypto to another seamlessly.

Back-up Features

Back-up features are critical to helping you secure your holdings in case anything happens. This is why the Defix wallet scores better compared to other crypto wallets since it comes with advanced backup for your crypto holdings. Technology may fail, hence a wallet that comes with backup features is ideal to secure your holdings in case of any eventuality.

Cross-Functional

If you want to use a single wallet to access multiple platforms, then the Defix wallet serves you best. Meanwhile, it is advisable to use different wallets on different devices to secure your investment. That way, if one wallet is compromised, you may not risk losing your entire investment.

QR Code Scanner

To identify a credible mobile wallet, it has to come with a QR code scanner. Such mobile wallets can generate and scan a QR code for coin transfers. This avoids the need of typing public keys any time you receive or send funds. Unlike typing which may be time-consuming and risk your wallet, scanning the QR code simplifies your crypto transfer process. All you need is to set up a crypto QR code for every cryptocurrency to make it easier to transact using different digital assets.

Customer Service

Just like any other business entity, excellent customer service is a key element that must be considered when choosing the right crypto wallet for your holdings.

When researching crypto wallets, ensure you ascertain the platform’s customer service. This will help you to get fast assistance should anything go wrong.

Conclusion

If you are struggling to identify the right crypto wallet for your holdings, then it’s high time you consider the insights highlighted in this article. Besides helping you secure your crypto holdings, the right crypto wallet helps you manage your portfolio with ease.