Crypto wallets are vital for individuals looking to hold and accept and receive cryptocurrency payments.
So, given how saturated the market is, how can you tell which wallet is the one for you? Well, keep on reading to find out.
What we think: a no-frills Bitcoin wallet that places heavy emphasis on security through the use of multi-signature verification. New users may be initially overwhelmed by the myriad of Electrum’s features.
Cryptos accepted: Bitcoin only.
Electrum does only one thing, which it does well. And that is: being a safe and secure wallet for securing your Bitcoins. Unlike other crypto wallets that we’ll discuss later, Electrum only supports Bitcoin and nothing else.
While this is a limitation, Electrum more than makes up for it with the sheer volume of customization options, Electrum has been designed for more advanced users. This can be seen in features like its multisig wallet storage, external plug-in support, and cold storage integration.
So, if you’re a new user, you may want to stick with something less sophisticated. But if you know what you’re doing and deal primarily in Bitcoins, then Electrum may be the one.
What we think: backed by one of the largest names in crypto means that Coinbase is definitely trustworthy. Also, Coinbase wallet features a well-designed interface and is easy to use. It is, however, let down by the lack of cold storage options and the use of third-party hosts for storage purposes.
Cryptos accepted: Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, XRP, Stellar Lumens, Dogecoin, and all ERC20 tokens (including USDC and DAI).
If you’re looking for a safe and trusted brand, then look no further than Coinbase. The company was founded by Brian Armstrong and Fred Ehsram back in 2012 when Coinbase provided crypto exchange services to customers.
Now, they’ve expanded into the storage space with Coinbase wallet, which supports a myriad of cryptocurrencies, from classics like Bitcoin and Ethereum to newer tokens like Dogecoin and Stellar.
Designed to be intuitive and user-friendly, Coinbase is a great choice overall for investors and enthusiasts alike.
What we think: Tezro is more of a utility-focused app that functions as a marketplace, messenger service, and crypto wallet. While relatively new, Tezro may be worth a look, given how flexible they are.
Cryptos accepted: Bitcoin, Ethereum, EOS, CHNT, USDT, and EURT.
Think of Tezro as the Swiss army knife of wallets, thanks to the many functions. With Tezro, you’ll be able to message friends and family privately while also seamlessly sending/receiving crypto payments.
In the mood for some shopping? Then why not check out the best crypto wallet applications by Tezro, where you can find just about anything, including NFTs.
As an added plus, Tezro also accepts payments in fiat currencies like the USD, EUR, and CNY if you’re interested. And rather than having to move between exchanges, Tezro comes with its crypto exchange which lets you buy and sell cryptocurrencies.
- Trust Wallet
What we think: Trust Wallet is Binance’s in-house wallet that comes packed with features along with extensive support for a vast number of asset types.
Cryptos accepted: More than 1 million.
With a massive number of transaction options available and vast amounts of cryptos supported, there’s no doubt that Trust Wallet is an ambitious project.
However, even the most experienced crypto enthusiasts will struggle to grips with it. This is to be expected given that Binance clearly intends Trust Wallet to be a one-stop solution for all things crypto-related.
Crypto wallets are a vital part of any investor’s repertoire. But it would be best if you always kept in mind that hot wallets are often susceptible to cyberattacks. So always take precautions to keep your holdings safe.