How to Choose the Best Crypto Wallet? - Baltimore Post-ExaminerBaltimore Post-Examiner

How to Choose the Best Crypto Wallet?

A lot of people are skeptical about crypto wallets because they think that programs can be secure, and there are a lot of risks.

And, somehow, they are right. That is the biggest challenge for every custom software development company is to be at least 99% sure that the wallet is safe and it can store the money. 

Of course, wallets are different, and the levels of security, ease of use, design, etc. are different as well. 

Today I am here to tell you about the next types of wallets:

  • hardware
  • online
  • mobile
  • paper
  • desktop

In addition, we will talk about custodial and non-custodial wallets.

Have you prepared the pen yet?

Hardware Wallets

This type of wallet is considered to be the most secure one.

I suppose you know about Trezor or Ledger, right? These are devices are the best Bitcoin wallets of this type, and are in the form of flash drives that are going to store your crypto like it is in the Swiss bank.

Are hardware wallets free?

They are not – the latest model of Trezor costs around $200, and Ledger – around $150.

Online and Mobile Wallets

Here are the types that are not so secure as the last one but they are very convenient. 

You can download an online wallet to your laptop, PC, smartphone, or tablet, and then the only thing you will need is the connection to the Internet. 

With mobile wallets, everything is clear as well – they can be used on your Android or iOS. 

These two types of wallets have very bright designs and a lot of useful features like the contact list, notifications, affiliates, etc. 

Desktop Wallets

Professionals in Bitcoin trading like these wallets because they are very, you know, powerful. 

The keyword is “professionals” because desktop storages are very hard to use for newcomers. By the way, you will need to have literally a lot of space on your PC to download this wallet.

Desktop wallets are free to use, and there are only a few of them, so the chance to get the bad wallet is low.

Paper Wallets

This wallet looks like a piece of paper and contains all the public and private keys, QR-codes, etc. 

Here there is no danger from hackers or program lags – the safety of the wallet is in your hands. If you decide to choose this wallet, you will better find the safest place and hide this paper there.

Which crypto wallet is the best?

This question is hard just because I don’t know your needs. If you want to use the convenient wallet – the mobile one, you will need to remember the difference between the custodial and non-custodial wallet.

You need to choose the non-custodial wallet because it is not going to store your private information and other data on its servers. 

But if safety is the most important for you, you will better purchase the hardware wallet. 

I hope you, as a future trader, will be very attentive to your needs and will choose the best wallet!

 

Feature Image by Rodrigo Joaquin Mba Mikue from Pixabay


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