Top 5 crypto wallets you need
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Even before you buy your cryptocurrency like Bitcoin, Binance, Ethereum, or Tether, you’re going to need a crypto wallet for it. No, it’s not something that you’ll keep in your pocket; your wallet will not hold any physical coins, but only digital ones. 

 In order to buy or trade Bitcoin or other cryptocurrencies, you need to have a wallet address so that the digital currency can be transferred to you. Your cryptocurrency is recorded on the blockchain, which is a type of digital ledger and can only be accessed using a private key. That special key is what is kept in the wallet. So you need to get a wallet set up before you even buy your first currency. If you lose or forget the key, which is a set of numbers, you can lose your money.

You can choose to set up a paper wallet, which means writing the key on a piece of paper and storing it safely. There are also hardware wallets that are like a USB that you insert into your computer when you want to use your crypto. Paper and hardware wallets are harder for malicious users to access because they are stored offline, but they are limited in function and risk being lost or destroyed. The most popular hardware crypto wallets are produced by Ledger and Trezor.  Ledger Nano S, was one of the first hardware wallets on the market but it was hacked and customer information, including names, phone numbers, email addresses were exposed. Though hardware wallets can be pricey, it’s a good idea to only buy a hardware wallet from a verified seller. After you’ve purchased the device, you’ll need to download the software from the official company website.

There are software wallets that are stored on an app and work as an online bank account for sending, receiving, and using your crypto currency. Your private info is online, so you’re vulnerable to hackers. Make sure you look for features like two-factor verification. In crypto jargon, a hot wallet is connected to the internet and could be vulnerable to online attacks and lead to stolen funds, but it's faster and makes it easier to trade or spend crypto. A cold wallet is typically not connected to the internet, so while it may be more secure, it's less convenient.

Choosing the best crypto wallet isn’t simply picking one that has the best features. You need to find the right one suiting your needs. For example, if you need it purely to securely save crypto, or for transactions.

 Exodus is great for beginners just getting into the crypto space. is considered best for beginners because it is free and has good customer support and optional support. It is a desktop and mobile wallet with a very simple user interface and an exchange built-in and good customer support. Exodus currently allows for swaps between over 150 different cryptocurrencies. 

Trust Wallet can handle a wide range of cryptocurrencies and has a reputation for solid security. For example, you can use Two-Factor Authentication (2FA), Google Authentication, and even SMS or email verifications. One downside of Trust Wallet is that it’s purely mobile-based, there’s no desktop variant.

Coinbase has the most user-friendly interface in Coinbase which makes it very attractive, especially for new users. However, the simplified interface takes slight advantage of newbies with somewhat higher fees.

Electrum offers users the ability to determine the level of security they wish to use. For example, you can create a standard wallet, one with 2-factor authentication, or a multi-signature wallet. Electrum is perfect for the more advanced Bitcoin holder who wants great security features and customizability, all in a simple layout.

Mycelium is an open-source and mobile-only Bitcoin wallet. Mycelium currently only supports Bitcoin, ETH, and ERC-20 tokens. It is mobile-only, has a more refreshed user interface than Electrum, and has a built-in exchange. You can set custom transaction fees so you can choose how long you’re willing to wait for a transaction to be completed. Mycelium also has a few more interesting features, such as hardware wallet support.

Trezor is a name synonymous with crypto cold wallet storage. Its Model T is the second generation of hardware wallets they have created. It gives the user the ability to access third-party exchanges, like Changelly and CoinSwitch, directly in its website interface. While this is quite convenient it is expensive.

The Model T utilizes a touch screen, which can be easier to use for beginners It has a MicroSD card slot, allowing you to use MicroSD cards to encrypt the PIN and further protect your device from attacks.

Using a crypto wallet doesn’t cost you anything if you’re just storing currency in the wallet. However, if you’re completing a transaction, then the owner of the exchange or device that is housing your wallet will charge you various fees depending on what you’re trying to do. As with any banking service, finding the right crypto wallet for your needs is important, so take some time to find the one that works best for you. 

These are some factors to consider 

Security. Crypto wallets have slightly different security aspects. Do check these carefully before making your choice. Security is always a major factor, so it’s important to use a wallet that is reputed and has plenty of security protocols in place. Choose a wallet that enables some of the larger exchanges and completes transactions in the open market.

Fees. Transaction fees can vary. Some crypto wallets allow you to customize each fee. 

Cryptocurrencies. Some crypto wallets offer a wide variety of cryptocurrencies, while others are more limited. Think about how often you might need to swap between currencies.

Customer support. Some companies offer 24/7 support. Always review the level of support you get for the response times and their ability to solve your problem.

Access . Where you trade cryptocurrencies should guide you on which crypto wallet to use. If you’re using a computer consider hardware and desktop wallets. If you’re always on the move, you may prefer smartphone apps and browser-based wallets.
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