With users looking to safeguard their interests in cryptocurrency, the use of digital wallets has sprung up as a safe and viable method for keeping your earnings safe. Investors have become shrewd and intelligent, after learning from various freak incidents like the tragic Mt. Gox Incident. With the idea of safeguarding and monitoring your digital currency reserves in mind, the major question transitions from why you should purchase a wallet to which wallet is best for a cryptocurrency investor.
In this article, we will mention the most popular cryptocurrency wallets that every investor should know of. But before going to naming the wallets, it is pertinent to mention the desirable traits that every cryptocurrency wallet should have.
Expected Traits of a Cryptocurrency Wallet
While investors do want a digital wallet, considering the security they provide, they are unsure as to what makes a useful cryptocurrency wallet. Here we mention the desired traits within a cryptocurrency wallet that form the basis of the high end security that is provided.
1. Costs: Other than just knowing the cost associated with the wallet, users should also now the drawbacks and opportunity cost of it.
2. Mobility: Is the wallet accessible anytime, anywhere?
3. Security: Does the company introducing the wallet have a previous track record of excellence in security?
4. Convenience: Does the wallet give you the luxury of making a fast purchase?
5. User-friendliness: Is the wallet intuitively designed?
6. Style: The style statement a wallet makes is as important as any of the other points mentioned above in generating popularity. Most investors prefer wallets with enhanced style.
Ultimately, you may be looking for a wallet that best matches the points mentioned above.
Most Popular Wallets
The most popular wallets that provide an excellent UI and many of the other points mentioned below are:
KeepKey – Hardware Wallet
One of the coolest looking wallets in town, Keepkey is a relatively new company that promises a lot. The hardware, with its polished design, feels like a premium wallet. The UI is simple to use and is best for people that want a simple experience.
Nano Ledger 5 – Hardware Wallet
Nano Ledger 5 provides excellent feasibility, and is one of the most affordable hardware wallets. The low price along with its small, mobile size makes Nano Ledger 5 a perfect choice for al investors.
Trezor – Hardware Wallet
One of the first wallets to have been available in the market, Trezor has set the gold standard for the crypto market. The top notch security provided by Trezor, protects your wallet from both physical and virtual theft. Trezor may lack the style, but it over compensates through exceptional security.
Coinbase – Hot Wallet
An online wallet based on the web, Coinbase is a version for all beginner investors. As it is a hot wallet, you can instantly transfer to the GDAX exchange for free. You can even make quick purchases through fiat in the same interface. Moreover, almost 100 percent of your holdings on Coinbase are insured.