This article will go over top 10 best crypto wallets which is known also as a digital and hardware wallet used to send and receive cryptocurrency. You can manage your account balance on your Phone, Desktop, Tablet, and more. Allowing you to complete payments much faster with low transaction fees and payment confirmed in less than 30 minutes. We also go over how to keep it safe in another article called How to keep bitcoin safe in 2020.
The wallet has a transaction based on digital keys, digital signature, and a digital address. Digital keys are private not stored online but stored and created in your wallet. The difference between a hot wallet and a cold wallet is that a hot wallet connects to the internet, while cold wallets connect only on the hardware devices. In this article, we will explain in detail the digital and hardware wallet known also as “Hot and Cold Wallet”.
How wallets are accessible online connected in some way to the Internet. Unlike a cold storage wallet, a hot wallet connects to the Internet 24/7. Hot wallet connects to the internet, which makes them somehow more vulnerable to viruses and attacks than cold wallets. The security of a hot wallet depends on the user’s behavior because the public and private keys are stored on the internet. Public keys and private keys are the most important components of a cryptocurrency wallet. A public key is like the account username and it identifies the wallet so the user can accept bitcoins without exposing their identity. A private key is like a pin number that allows the user to access the wallet and check balance, make transactions, and more. Hot wallets can be downloaded on many devices with many of them free to use.
Cold storage wallets connection is offline, protecting your wallet from attacks in case a hacker attempts to breach the platform with Bitcoins kept on a dedicated hardware wallet or on a USB drive. Using a cold storage wallet, it prevents hackers from being able to access the account and is a more secure and recommended way when storing large amounts of crypto assets. Cold wallets are becoming a preferred choice to secure a wallet in an offline mode with hot wallets exposed more to hackers. Cold wallets are smart devices that are virus and waterproof and supporting multi-signature transactions. They are suitable for storing, sending, and receiving bitcoins at a higher level of security. Cold wallets offer a micro storage device with an encrypted backup system and QR code scan camera.
Recommended Hot Wallets
Founded in 2012, Coinbase based in San Francisco, California it has more than 30 million users. With more than $150 billion cryptocurrencies exchanged allowing you to buy, sell, or exchange bitcoins. It supports deposit payment methods as PayPal, Credit and Debit Cards, and Bank Transfers with low fees from 1.49% to 3.99%.
Coinbase users are able to earn free crypto by completing educational tasks such as quiz participation, watching videos, and eligible across many countries. It supports cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and advanced security features as two-factor authentication, and 12-word recovery phrase. Coinbase it’s free to use for web browsers and iOS and Android devices.
Blockchain is one of the most trusted and fastest-growing cryptocurrency wallets, with an easy and safe way to access cryptocurrencies. It has over 47 million wallets, with $200B transacted payments available in 140 countries and low fees of transactions. It offers many advanced features of security such as two-factor authentication and 12 words backup phrase.
Blockchain supports 22 currencies and supporting 25 languages, with an exchange platform powered by Shapeshift allowing you to exchange many cryptocurrencies. It offers the option to buy and sell Bitcoins for its users in 36 countries. Blockchain wallet is available for free and you can use it on your Web browser, Android, and iOS devices.
Exodus is a desktop software crypto wallet founded in 2015 allowing users to store and exchange bitcoins in its platform. With a versatile design, real-time value od many digital cryptocurrencies, live charts and allowing users to personalize their portfolio with different themes and other features of styling. It supports more than 80 cryptocurrencies with the option to exchange digital cryptocurrencies on their platform. Yet, Exodus doesn’t offer much-advanced security features with only a recovery phrase. Exodus is available for use at a free cost on Desktops and Mobile devices.
You can also read our in-depth review about the Exodus wallet here!
Founded in 2011, the Electrum software wallet is one of the oldest wallets available. It’s open-source software with support for Bitcoin and Bitcoin Cash only. It offers an encrypted system with thirds party plugins integrated such as Multisig services, Hardware wallets. With security features such as two-factor authentication and recovery phrase, Electrum is available on Windows, Mac OS, and Linux.
Samurai wallet is an Android phone wallet founded in 2015 with support from only Bitcoin. It allows users to work in offline network conditions and uses Stonewallet technology. Samurai wallets have low fees with the smart miner fees feature reducing the transaction costs. It offers security features such as a 12-word recovery phrase and uses AES-256 encryption. Speaking of bitcoin we also go over the meaning of it in one of our articles called what is bitcoin today if you wanted to check it out.
Recommended Cold Wallets
Ledger Nano is one of most popular hardware wallets with more than 100 cryptocurrencies supported and advanced security features. Founded in 2014 with more than 1 million Ledger wallets sold in 165 countries it has a unique technology and design. With two products launched Ledger Nano S and Ledger Nano X and recovery phrase.
Ledger Nano X is the latest version with a Bluetooth feature allowing you to use this hardware device with your phone or laptop and without using a wire. It supports more than 100 cryptocurrencies with a 100mAh battery at a cost of $119.
Ledger Nano S supports 9 cryptocurrencies it’s an older version product at a cheaper price. It doesn’t offer Bluetooth integration and it costs $55.
You can also read our in-depth review about the Ledger Nano here!
This crypto wallet is the trezor, which is created in the Czech Republic by SatoshiLabs offering many features and option such as connecting your hardware wallet to a PC or smartphone. With an LCD touch-screen and supporting more than 100 cryptocurrencies with advanced features. With a random generated nine digit pins and a 24-word recovery key ensures advanced security. Trezor has two models with Trezor one at a price of $59 and Trezor T at a price of $170.
You can also read our in-depth review about the Trezor wallets here!
KeepKey is a USB device hardware founded in 2015 with virus and malware proof. It’s used on a PC, Mac OS, Linux, and Android devices with a plugin premium USB cable. Supporting many cryptocurrencies Bitcoin, Ethereum, Litecoin, Dash, and more. It offers backup, PIN protection number, and a 12 words recovery sentence with a $99 price.
Created in China, Cobo Vault is a waterproof hardware wallet supporting over 20 cryptocurrencies and over 700 tokens. With a detachable battery that prevents corrosion damage and fingerprint authentication offering you an advanced and unique hardware wallet device. The self-destruct mechanism feature protects your wallet from physical attacks with a MicroSD Card minimizing the potential attacks. The Cobo Vault hardware wallet comes with a price of $479.
BC Vault is a hardware crypto wallet made in Slovenia and it comes in three models. It offers high-security features such as encryption, free backup, private keys, two-factor authentication, and the option to encrypt, export, or erase your private keys. Click the image below to see all of the choices of the BC Vault!
BC Vault One
The first model BC Vault One costs 159,99€ and it’s the standard edition with unique security and user-experience features. It has a free encrypted backup system, two-factor authentication, and supporting the most major cryptocurrencies.
BC Vault Quicksilver
The second model BC Vault Quicksilver costs 269,99€ it combines world-class security and strong, aircraft-grade construction from brushed aluminum. It weighs 0,3 kg and a backup system through Micro SD Card or paper QR.
BC Vault Gunmetal
The last model called BC Vault Gunmetal costs 269,99€ it’s built from a single block of aluminum, brushed, and anodized for the most security. It weighs 85 grams with superb security, smooth design, and an aircraft-grade construction. We hope you enjoyed our crypto wallet best fit for you article.
Have you ever wondered how do I complete my crypto taxes? If so we would also recommend reading our CryptoTrader Tax Review
Images via Shutterstock, Writer Behar H.