This article may contain references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on links to those products or services. Nonetheless, our opinions are our own.
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.
iCoin Wallet
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
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.
Mycelium
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.
Exodus
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.
Reviewed and edited by Albert Fang.
See a typo or want to suggest an edit/revision to the content? Use the comment form below for feedback.
At FangWallet, we value editorial integrity and open collaboration in curating quality content for readers to enjoy. Much appreciated for the assist.
Did you like our article and find it insightful? We encourage sharing the article link with family and friends to benefit as well - better yet, sharing on social media. Thank you for the support! 🍉
Article Title: The 5 Best Wallets for Crypto
https://fangwallet.com/2022/06/19/the-5-best-wallets-for-crypto/The FangWallet Promise
FangWallet is an editorially independent resource - founded on breaking down challenging financial concepts for anyone to understand since 2014. While we adhere to editorial integrity, note that this post may contain references to products from our partners.
The FangWallet promise is always to have your best interest in mind and be transparent and honest about the financial picture.
Become an Insider
Editorial Disclaimer: The editorial content on this page is not provided by any of the companies mentioned. The opinions expressed here are the author's alone.
The content of this website is for informational purposes only and does not represent investment advice, or an offer or solicitation to buy or sell any security, investment, or product. Investors are encouraged to do their own due diligence, and, if necessary, consult professional advising before making any investment decisions. Investing involves a high degree of risk, and financial losses may occur including the potential loss of principal.
