As bitcoin continues to gain extensive acceptance and continues to thrive in tremendous popularity, it has allowed crypto users to withdraw currencies from bitcoin prime gains and stock them in a wallet. Just like that. These can be thought of as digital wallets, which, like physical wallets, provide a place to keep your money.
However, the term “digital” means your crypto is stored in the cloud. As a beginner, you are probably surprised by the number of digital wallets available at your disposal. It is not easy to find a digital wallet that fully complements your needs. Due to the security measures in place, digital wallets are the safest place to store your crypto assets compared to holding them in exchange.
Below, we discuss five of the best digital wallets to start you off:
Exodus is widely recognized as one of the most trusted platforms to date, a desktop and mobile wallet with a very simple interface and built-in interchangeability. One of Exodus’s most popular features is the ability to easily switch between an ever-growing number of cryptocurrencies, allowing you to switch over 100 different cryptocurrencies in one place. Due to its simplicity, this wallet is ideal for beginners who are just starting in the crypto space. There is also great support, which is an essential feature for beginners entering the market where many will be confused.
Mycelium controls private encryption keys directly and individually and stays on the device once integrated. It also offers the option to lock your wallet with a secure PIN, as well as a password. Mycelium allows users to run multiple accounts and reuse addresses, making the entire process more convenient for beginners. It also facilitates in-app exchanges and ERC20 and BTC crypto trading.
Apart from the dangers of the internet connection, Trezor is a hardware crypto wallet that takes pride in being able to store over 100 cryptocurrencies offline.
This allows the user to use the physical device key to sign and validate the transaction offline before sending or exchanging it to the network. Trezor is known to be used to store large numbers of cryptos offline, making it more convenient for storage applications such as exchanges and crypto companies. It is one of the best cryptocurrency wallets as it allows people to manage their portfolios and send and receive securely.
Ledger Nano X
Ledger Nano X includes highly specified security features, making it one of the most reliable platforms to date. Ledger Nano X also hosts a variety of coins, so you can protect your coins simply by setting up an account here. It is also a hardware wallet and is also known as a “cold wallet” because it provides offline storage. As a wallet, you can connect to your device via a USB or Bluetooth connection. Once connected, you can buy or manage cryptocurrencies at any time.
Digital wallets are the most secure crypto-wallets. This is because they ensure you are the only one in charge. When deciding on a platform to use consider its reliability and credibility.