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Author Topic: Cryptocurrencies Wallets  (Read 974 times)
nlaara12
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February 09, 2019, 02:58:48 PM
Last edit: April 01, 2019, 06:13:43 AM by nlaara12
Merited by Perfect35 (3), tk808 (2), xvids (2), mhanbostanci (1), Yurkov (1)
 #1

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
   
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)


•   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.



•   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)
   
   

•   HARDWARE WALLETS
Hardware 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
   

•       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

•   MULTICURRENCY WALLETS
Multicurrency 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.

•   MULTISIGNATURE WALLETS
Multisignature 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.




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February 09, 2019, 03:27:49 PM
 #2

You mention all kind of wallet. For me as a cryptocurrency trader, investor and hunter having a secure wallet will help you to keep your token safety and secure. I have hardware wallet that help me to keep my token secure. If you need a wallet I suggest you should hardware wallet.
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February 09, 2019, 04:20:10 PM
 #3

This s a good write-up, which will be useful for lots of newbie, as well as those who would like to know more about the different forms of wallets.
I have been using mobile wallet, desktop and web wallets for quite some time now and i have not had any issue with them. Although, i understand the fact that they are not 100% safe, because there are some measures one needs to take, so as not to get exposed to hackers and scammers.

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February 09, 2019, 05:19:06 PM
 #4

Thanks for compiling the different types of wallets. I am using hardware wallet to store most of my coins. It is easy to set up and secure. I find hardware wallet to be good for newbie.
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February 09, 2019, 05:29:35 PM
 #5

I just discovered Infitinito mobile wallet and liked it very much. You may add Infinito the list.

Infinito launched a airdrop and bounty program and they distrubited 2 airdrops. But then never came any new airdrop or bounty.

Did you know any wallet have free airdrops or bounties? It would be easy if it is.
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February 09, 2019, 06:54:24 PM
 #6


The author is well done, excellent article, even nothing to comment.  Smiley
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February 09, 2019, 07:11:36 PM
 #7

I think the most useful one is Myetherwallet. I am using this wallet for ages and have never experienced any problems with it. But I think due to a very high amount of scammers in this industry it is definitely safer to buy a cold wallet and never to struggle about any security questions anymore.
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February 09, 2019, 10:46:07 PM
 #8

I think the most useful one is Myetherwallet. I am using this wallet for ages and have never experienced any problems with it. But I think due to a very high amount of scammers in this industry it is definitely safer to buy a cold wallet and never to struggle about any security questions anymore.
I agree with you, I think the most commonly used wallet is MyEtherWallet. The most secure wallet is a hardware wallet. And I think that in any case should not be stored on the stock exchange.


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February 09, 2019, 11:34:31 PM
 #9

You have got a good breakdown there OP.
Wallets are one of the most essential part of cryptocurrency that we cannot do without.
This is a thread that should be made available to newbies who are yet to choose the right wallet and are still asking the question on which wallet to go for mir even the next wallet
With that, they can easily compare.
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February 09, 2019, 11:50:04 PM
 #10

During this time I always use MyEtherWallet as my wallet. And blockchain.ifo as my BTC wallet. And so far both are safe from the hands that are not responsible. And maybe I need hardware wallet for the future and for the best security.

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February 10, 2019, 12:44:52 AM
 #11

During this time I always use MyEtherWallet as my wallet. And blockchain.ifo as my BTC wallet. And so far both are safe from the hands that are not responsible. And maybe I need hardware wallet for the future and for the best security.
I also use the Myetherwallet wallet for every transaction and Myetherewallet is also very good because it supports ERC-20. I also made transactions using Mew, which is still very safe from Pereta. Therefore I am always careful when doing every transaction.

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February 10, 2019, 01:12:25 AM
 #12

You maybe want to add exodus in the list. Since exous have different coins, it make exodus become multi currency wallet, same as mycelium. Exodus also have good UI compare to other wallet, you also have access to your private key. The minus is you can't setting your own fee in exodus.

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February 10, 2019, 04:10:08 AM
 #13

I think the most useful one is Myetherwallet. I am using this wallet for ages and have never experienced any problems with it. But I think due to a very high amount of scammers in this industry it is definitely safer to buy a cold wallet and never to struggle about any security questions anymore.

Yes but it only works with Ethereum platform, so to hold other coins/tokens you are needed to use other wallets.

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February 10, 2019, 04:25:57 AM
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I always use web wallets and I have no obstacles to date. For me web wallets are very simple and safe depending on how we use them. Always bookmark web wallet site that use, that's very important for security to avoid phishing.

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February 10, 2019, 05:30:12 AM
 #15

I always use web wallets and I have no obstacles to date. For me web wallets are very simple and safe depending on how we use them. Always bookmark web wallet site that use, that's very important for security to avoid phishing.
Same here, I also use Online wallet and not yet faced any issue with web wallet. I also bookmark my wallet address and every time I use those bookmark when I use online wallet. I also use meta mask to store ERC20 and for Bitcoin wallet use 2 factor authentication. Nowadays I am also using Trust wallet.
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February 10, 2019, 06:35:14 AM
 #16

MyEtherWallet is a wallet that can be accessed via a browser and application (mobile). If you intend to make a wallet then MyEtherWallet can be a recommendation for you. MyEtherWallet is very safe, easy to access, and simple.

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February 10, 2019, 06:35:34 AM
 #17

For short term user, desktop wallet is best than web wallets because web wallets are maintained by other people. For long term, paper wallet is the best for a easier method. Don't forget keep it safe amd secure.




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February 10, 2019, 06:35:51 AM
 #18

   Here are some hardware wallets.

There's a discussion on another thread about the hardware wallets and about the newcomers on that market. Maybe you could check those and add to your list at least the ones that are released.


And something else in your list: while it's nice to have a big list of wallets, some 2-3 words on each of them would not hurt, just to help people find easier something for their needs. At least a list of coins supported maybe...


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February 10, 2019, 06:42:05 AM
 #19


And something else in your list: while it's nice to have a big list of wallets, some 2-3 words on each of them would not hurt, just to help people find easier something for their needs. At least a list of coins supported maybe...


Agreed with your points. Putting a short review would help newbie to choose the best wallet so that they can avoid any kind of issue. I hope OP will add this and update with some words.




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February 10, 2019, 06:43:31 AM
 #20

It's very informative though, It's okay for me to use MyetherWallet for my Ethereum and ERC-20 tokens since it is very safe and you have your own private key. I used electrum for my Bitcoin, I didn't have any issues on this since almost a year of using on it. Storing cryptocurrency make it sure that the private key was there safe and secure, then if not, that does not belong to you.

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