Crypto Wallets That Give Peace of Mind:- Cryptocurrencies have quickly grown both in terms of acceptance and appeal over recent years, yet as more individuals use cryptocurrency exchanges there is an increased chance that hackers could steal from reliable sellers. To provide peace of mind to users who rely on them there are crypto wallets designed specifically for peace of mind in storing cryptocurrency funds safely.
According to data provided by CipherTrace to Reuters, consumers lost over $1.9 billion last year through bitcoin fraud and crime, according to CipherTrace’s data.
This can be avoided by selecting a cryptocurrency wallet designed to protect against hackers. We have put together a list of the top ones as an aid in your decision.
Crypto Wallets That Gives Peace Rest of Mind
MetaMask is a browser-based cryptocurrency wallet. You can receive and send cryptocurrency and tokens using MetaMask wallet, while also saving artwork created on NFT for storage purposes.
MetaMask can store only Ethereum-based currencies and tokens, making it suitable for individuals just looking to learn about accessible cryptocurrencies.
MetaMask UI is intuitive to use despite offering limited coin choices. Even for users unfamiliar with cryptocurrency, its features will make using MetaMask simple.
Pros: MetaMask provides secure storage for private keys and makes purchasing cryptocurrency much simpler through their wallet.
Cons: MetaMask currently only supports Ethereum (ETH).
A popular way of purchasing and selling cryptocurrency is using Coinbase as an exchange. Though you can store coins there temporarily, this site should not be seen as long-term storage option.
Coinbase and Gemini both lack private key access, increasing your security risks with regards to cryptocurrency hacking.
As an interim solution while you create and setup your private wallet, Coinbase can serve as an exchange to temporarily store and exchange cryptocurrency.
Consider upgrading to a more secure wallet when investing more funds into cryptocurrencies.
Pros: Coinbase wallet provides easy navigation with mobile access via app and web browser; its insurance policy covers you for the transaction as well.
Con: Transaction fees can be relatively expensive.
Exodus is an extodus is a crypto wallet designed for newcomers to the concept of digital money. Supporting over 100 forms of encryption and being secured on PC or mobile device – Exodus provides users with a seamless crypto experience.
Exodus doesn’t require you to register, simply save it directly onto your PC as an alternative solution. Should you decide later to switch over to hardware wallet, Exodus also works well with Trezor.
After downloading, your wallet will be protected with a password, but neither multisignature addresses nor two-factor authentication are necessary to protect its content.
Exodus was designed as a safe place for cryptocurrency holders, using your private key as security.
Exodus is an ideal option for beginners as its user-friendly design offers a simple user experience.
Pros: With over 100 cryptocurrencies supported, ProtonPay stands out as being one of the more stable options.
Trezor provides hardware integration capabilities.
Logical Desktop Layout Whilst registration may not be necessary for some websites, for this one there is no registration necessary.
Cons: No two-factor authentication available
Multiple signatures are not necessary.
Gemini does not offer access to its private key and, while this increases the chance that hackers could attack your crypto, this only proves how seriously Gemini takes security.
Gemini is committed to safeguarding the bitcoin you entrust them with as they are the first crypto and custodian worldwide to achieve SOC compliance.
Gemini Pay and Gemini Earn are integral tools of Gemini Wallet that every trader should consider when selecting their cryptocurrency wallet.
Pros: Supports Over 30 Cryptos and Protected with Insurance Policy
Cons: No private key and complex transaction costs apply.
5) Trust Wallet
Trust Wallet, an Android-only cryptocurrency wallet, allows for quick purchases using credit cards in mere minutes after downloading its program.
Through the app, it remains possible to buy and trade cryptocurrency – making it less necessary to maintain multiple accounts at different exchanges.
Trust Wallet’s signature feature is its ability to help users generate interest on their bitcoin. By investing your resources in cryptocurrency, Trust Wallet could potentially yield around 130% APR in return.
As much as it might not be for everyone, taking the chance to earn cryptocurrency through Trust Wallet should not be missed out on.
Pros: Won 160+ Crypto Currencies in recent ICOs
Your cryptocurrency may yield interest.
Pro: Easy to understand design
Con: No two-factor authentication available.
There are currently no desktop options.
Trust Wallet and Trezor are hardware cryptocurrency wallets designed for easy storage of cryptocurrency assets. When adding or withdrawing cryptocurrency from your wallet, Trezor works similarly to an external hard drive when connecting directly to either a computer or smartphone for use.
Cost of Trezor hardware wallet options vary. Both options are suitable.
Trezor One costs $59 while Trezor Model T costs $181. Both offer a small screen to view your holdings, supporting up to 1,000 different coins. In order to add or delete cryptocurrency from either wallet, however, a computer must first be linked.
Pros: Support for 1,000 coins and Secure offsite storage
Installation can be somewhat complex.
Cost of the hardware wallet upfront
7) Atomatic Wallet
Atomic Wallet offers users an easier and quicker way to purchase cryptocurrency, especially for beginners who require less paperwork and accounts to get started with crypto trading.
Atomic Wallet will send your private keys, but does not provide additional security measures such as two-factor authentication.
On the other hand, according to its website, more stringent security measures could soon become public knowledge.
Pros: Support for 500+ coins; mobile and desktop options available
Your wallet offers you instantaneous cryptocurrency purchase capabilities.
Two-factor authentication is unavailable.
No options exist for hardware support.
Not every cryptocurrency can be purchased.
Electrum One of the more established Bitcoin wallets, Electrum may be well-known among crypto community members but may not be suitable for beginners.
Wallets contain many practical tools and functions, yet can quickly become overwhelming due to so many options. Therefore, those with more experience will gain more from choosing Electrum as they navigate its features.
For proper use, Electrum must first be downloaded onto both a desktop computer or mobile device.
As an alternative, cold storage (also called offline or “cold”) storage could also be considered.
Pros: Two-Factor Authentication and its host of features tailored for advanced users make this platform stand out.
Cons: Only limited support exists for Bitcoin transactions.
Complex features may prove too difficult for individuals to manage.
9) Ledger Nano
Ledger offers two hardware wallets called Ledger Nano S and Ledger Nano X that cost respectively $59 and $129.
These small gadgets provide you with the option of safely storing Bitcoin offline, while their stainless steel covers provide physical protection for the cryptocurrency.
With each model of Ledger Live software you will be able to easily track your balance and complete transactions.
While Ledger supports more than 1,800 coins, hardware wallets can only hold a portion at any one time – though rest assured, stored currency will be safe from hackers in their offline storage solution.
Pros: Ledger Nano features secure offline storage and supports over 800 crypto assets.
Cons: Long setup process for new users and payment made upfront for hardware wallet.
Mycelium, like Electrum, is an established brand in the industry and since its release has evolved into an Android and iOS compatible crypto wallet software wallet.
Mycelium offers control of private keys and QR-based payment alternatives as two notable aspects, as well as offline storage solutions that work flawlessly.
Mycelium’s creators claim it was designed specifically for newcomers to bitcoin, yet many users find the interface daunting and can find features beneficial to experienced users confusing for novice users.
Also Refr:-10 Tips On How To Secure Your Crypto