One of the most important aspect of Cryptocurrency is the wallet, it is very good to accumulate so much coin but it is very much important to have them safe in a good wallet, so many people could have prevented their portfolio from been hack if only they have information on the right wallet to use.
Types of cryptocurrency wallets
Types of cryptocurrency wallets
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WEB WALLETS Web wallets are wallets that can be access via web browser, it is not to be confused with hot wallets, web wallets should not be used to store large amount of currency because they are more at risk of been hacked.
Advantages
Transaction can be done quickly because of instant access to internet.
Web wallet is ideal for small amount of investment in cryptocurrency.
No need to install any software on PC or anywhere.
Disadvantages
Web wallets has more risk of been hack and susceptible to phishing scams, malware.
Not advisable to store large amount of coin or for long term hodl
Here are some web wallets
MyEtherWallet (
https://www.myetherwallet.com/)
Coinbase wallet (
https://www.coinbase.com/)
Blockchain (
https://blockchain.info/en/wallet/#/)
Openledgerbitcoin wallet (
https://cryptolinks.com/210/openledgerbitcoinwallet)
BTC.com Wallet (
https://wallet.btc.com/)
Cryptonator online wallets (
https://www.cryptonator.com/)
Luno wallets (
https://www.luno.com/wallet)
Bonopay wallet (
https://bonpay.com/wallet/)
Coinspot Multi coin wallet (
https://www.coinspot.com.au/multicoinwallets)
Bitpanda wallets (
https://www.bitpanda.com/en)
Xapo bitcoin wallets (
https://xapo.com/)
Unocoin wallet (
https://unocoin.com/ GreenAddress bitcoin wallet (
https://greenaddress.it/en/)
Bitgo wallets (
https://cryptolinks.com/204/bitgowallet)
Coincorner wallets (
https://cryptolinks.com/224/coincornerwallet)
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MOBILE WALLETS:Mobile wallets are wallets that can be used on mobile device, meaning you can access your wallet even why you are on the move. One of the great thing about mobile wallet is that they can often provide more features than wallet that are purely internet base.
Advantages
One of the easiest wallet to use, they can be use on the move for those making regular transaction.
Mobile wallets do offer features that are not available with other wallets such as QR Code Scaning
Disadvantage
Mobile phone are not all that save, it is open to malware, virus which can compromise your phone.
Here are some mobile wallets
Mycelium Bitcoin wallet
Bitcoin wallet
Coinbase Android Wallets
Cryptonator mobile wallets
Dogecoin Wallets
Luno Bitcoin Wallet
Jaxx Multi currency Wallet
Copay Bitcoin Wallet
Coinspace coin wallet
Eidoo Multicurrency wallets
Coinomi Multicurrency wallet
Ethereum wallet by free wallet
Lykke wallet
Infinito wallet.
ImToken
The above mentioned mobile wallets can be downloaded from playstore.
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DESKTOP WALLETS:Desktop wallets for Bitcoin and cryptocurrencies are installable software packs that are available for most of the desktop operating systems such as Mac, Windows, Linux. These softwares are install on desktop or laptop. Desktop wallets are among the more secure cryptocurrencies wallet but it all depend on how good you are in keeping up to date with the online security measures.
Advantages
It is associated with less risk especially if the computer is completely clean of malware and viruses as a result of connection to the internet.
It is the ideal wallets to use if you want to store large amount of coin.
Your private key is not been store on a third party server again reducing the risk of been hacked.
It is very easy to use.
Disadvantages
If your computer is connected to the internet, your privacy is at risk.
The wallet is been held offline, so if anything should happen to your computer, you may lose it.
Burden of backing up your computer regularly
Malware and virus must be taken care of.
Here are some desktop wallets
Exodus
Bitcoin Core
Jaxx’s Chrome Extension
Trezor wallet (
https://trezor.io/)
Ledger wallets (
https://www.ledgerwallet.com/)
Exodus Multi Currency (
https://www.exodus.io/)
Stellar Wallets (
https://www.stellar.org/lumens/wallets Electrum Bitcoin Wallets(
https://electrum.org/)
Nem Wallets (
https://nem.io/downloads/)
Dogechain Wallets (
https://dogecoin.com/)
Lisk Wallets (
https://lisk.io/products)
Jaxx Multicurrency Wallets (
https://jaxx.io/)
Parity (
https://www.parity.io/)
Komodo Wallets (
https://komodoplatform.com/)
Coapay Wallets (
https://copay.io/)
Nxtplatform Wallets (
https://nxtplatform.org/)
Bitcoinarmory Wallets (
https://www.bitcoinarmory.com/)
Coin space Wallets (
https://coin.space/)
Multidoge Wallets (
https://cryptolinks.com/254/multidogewallet)
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HARDWARE WALLETSHardware wallets, as the name suggests, are hardware devices build specifically for handling private keys and public addresses.
It is a USB-like device with an OLED screen and side buttons to navigate through the interface of the wallet and comes with its native desktop apps for different cryptocurrencies. They are marginally less user friendly. Hradware wallet come in different forms. They are great for storing large amount of cryptocurrency.
Advantage
Hardware wallets are the most secure way to store your cryptocurrency in the long term.
Disadvantage
They are often difficult for beginners to use
Here are some hardware wallets.
Cool wallets (
https://cryptolinks.com/807/coolwallet)
Keepkey (
https://cryptolinks.com/805/keepkey)
Trezor (
https://cryptolinks.com/804/trezor)
Ledger (
https://cryptolinks.com/803/ledger)
BitLox (
https://cryptolinks.com/806/bitlox •
PAPER WALLETS:Paper wallets are not for everyone because they are a tad bit technical and requires a high level of caution from the user. It is so because in a typical paper wallet you just print your private keys and public addresses on a piece of paper and start transferring your bitcoins or altcoins on it.
Advantages
Paper wallets are one of the most secure choices of wallet, and are virtually hacker proof.
You do not have to think about your private key being stored on third-perty server because they are on physical document in your home.
Disadvantage
You need to have better understanding of how wallets work
Here are some paper wallets:
Bitaddress.org (
https://www.bitaddress.org/)
Wallets Generator (
https://walletgenerator.net/)
Bitcoinpaperwallet (
https://bitcoinpaperwallet.com/)
Bitkee (
https://bitkee.com/)
Caryptographi (
https://cryptographi.com/)
Cryptocurrency Wallet Categories
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Hot and Cold Wallets : Hot wallets are wallets that are connected to the internet, and this make hot wallets poses more risks and less secure but are more user friendly.
Cold wallets are not connected to the internet but are stored offline. Cold wallet
Poses less risk and improved security.
Hot wallets are used more on day to day transaction,while Cold wallets is prefer for long term holding
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MULTICURRENCY WALLETSMulticurrency wallets allow you to store various coin in one wallets, you do not need to have several wallets for several coins, some multicurrency wallets have features that will allow you convert from one cryptocurrency to another, though you may need to complete some steps on line to do this.
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MULTISIGNATURE WALLETSMultisignature wallets are commonly known as multisig wallets. These wallets require more than one signature to make a transaction go through,you will not be able to access the account without all the signature and that is an improved security.
Those are helpful to all community here in the forum including myself too. But most of the time for almost 1 year here in this industry I most often used MEW or known as myetherwallet and electrum both are very useful and helpful to me. But for the others you had mentioned it is really a good tools and options for me to try in the future.
