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If you’re looking to enter the world of crypto investment and trading, you will need to set up a digital wallet, which is where you will store your assets. There are plenty of different types of digital wallets, with options for offline and online storage – cold and hot wallets respectively. Choosing the right one for you can be overwhelming, so we’ve gathered together five of the best options out there.
The iCoin wallet is an incredible Crypto hardware wallet. This will keep your cryptocurrency safe offline, which means it’s less vulnerable to attacks. You will need to set up a pin to access the wallet, and you will also have a 24-character personal key that will let you restore your contents. When you plug in your iCoin hardware to a device, you will need to install the mobile app. This acts as a gateway to the blockchain, which will help it to send and receive information. The iCoin wallet is a cold storage option, which means you need to keep your keys safe; lose your key and you’ve lost your entire crypto wallet.
Electrum is one of the oldest wallets on the scene and comes with high-end security features. The wallet is hot, which means it has internet connectivity, but the unique server configuration means that you’ll never experience downtime. This wallet is simple to set up and uses a light client, which takes up much less space than other options. The only real limitation of Electrum is that it only supports Bitcoin, which isn’t ideal for people wanting to invest in altcoins.
Ledger Nano X
The Ledger Nano X is one of the most renowned hardware wallets, and it’s earned a name for itself within the community for its extensive coin support and security features. Building on the successful “Nano S”, the Nano X comes packed with Bluetooth support and an onboard battery, which means you can stay powered up and connected for longer. The only downside some may find with this wallet is the Bluetooth integration, which isn’t the most secure system. However, this function can be turned off for peace of mind.
If you’re a mobile user, Mycelium is the perfect choice because of its ability to store historical transactions and its dedication to strong security. Entering the crypto space in 2008, Mycelium’s history is matched almost with Bitcoin and only operated on mobile devices, with support for both iOS and Android. If you’re looking for a wallet as a beginner, this option can become pretty confusing, so an alternative would be a better fit.
If you’re using a desktop PC to invest in cryptocurrency, Exodus is the best in the business. The speed is incredible, it’s simple to use, and can be customized to suit the needs of the user. The UX for Exodus is arguably the best you will find and can now be used across both major mobile app stores.
To get started with crypto you will need a digital wallet, whether it’s hot or cold. The options discussed above are some of the best in the community, so go forth and explore.
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