How To Choose Cryptocurrency Wallet

A cryptocurrency wallets is necessary for storing and performing any operations with digital money. The market today is represented by a large number of different wallets, which can be divided into two large groups: "hot" and "cold" wallets.

The first ones are online wallets and software wallets (a program for installing on a computer or a smartphone). They are constantly connected to the Internet and are convenient for operative work with cryptocurrency. However, such wallets are less reliable than "cold" ones, which presume the storage of money on an external carrier. But the second doesn't allow full implementation of transactions with the crypto currency.

It is best to keep a small amount on a "hot" wallet for permanent work, and keep the fixed capital on a "cold" basis. Important and additional ways to protect: include two-factor authorization, install a reliable antivirus, create backup copies of data.

We have prepared a list of wallets that have been able to prove themselves on the positive side and are suitable for those who are just starting to work with cryptocurrency.

Blockchain.info

This free online wallet, which was one of the first wallets for bitcoin, is still very popular. And it is quite deserved: it can be accessed from any browser, there is a mobile application, it is simple and easy to use and has a high degree of security - the company does not have access to personal users' keys.The disadvantage is the periodic interruptions in the service.

Coinbase

Free online wallet, which successfully competes with Blockchain.info for a place on the market. Strengths: the availability of mobile applications for iOS and Android, instant confirmation of transactions, additional measures to protect funds. However, Coinbase has access to private keys of users and can not boast of absolute security. Owners of Coinbase wallets should also be prepared for additional verification by the bank when withdrawing money to a bank card.

Cryptonator

Multicurrency online wallet supports bitcoin and basic altcoins, allows you to instantly make transactions. Available from PC and smartphone. By the weaknesses can be attributed all the same presence of a third party and relatively high commissions of service.

Exodus

Free desktop wallet with a high degree of security and protection of private keys. Allows you to work with several currencies and change one cryptocurrency to another without leaving the program. It differs in a thoughtful and convenient interface. Disadvantages - the lack of a web interface and mobile application.

Trezor

The representative of the most reliable type of wallets - hardware. Suitable for storing large sums for a long time. High level of security: for today there is no data that someone managed to crack such a purse. The service is intuitive and compatible with the main operating systems (Windows, OS X, Linux), there is a web interface. The biggest disadvantage is the high price of the device ($ 99). The wallet is not suitable for daily operations with cryptocurrency.

Rahakott

The cryptocurrency wallet, which combines the speed of transactions and data protection. Registration is carried out using a mnemonic phrase and doesn`t require the indication of an e-mail or telephone number. To increase the level of security, two-factor authorization is provided, and for each transaction a new address can be generated. Using the API, you can integrate a wallet with external Web services.

This press release is for informational purposes only and should not be viewed as an endorsement by CoinIdol. We take no responsibility and give no guarantees, warranties or representations, implied or otherwise, for the content or accuracy.  Readers should do their own research before investing funds in any company.