Best crypto wallets you can use to keep track of your digital assets
You may ask? What exactly is a crypto wallet?
All assets which are recorded on the global ledger have to be stored somewhere, that’s where Crypto wallets came into play, these applications come in a wide variety and most of them offer adjustable easy interface. You can keep track of all your digital assets with a click of a button, sending and receiving transactions all over the world with ease!
So, what is a bitcoin wallet exactly?
A Bitcoin wallet is a software program where Bitcoins are stored. To be technically accurate, Bitcoins are not stored anywhere; there is a private key for every Bitcoin address that is saved in the Bitcoin wallet from the person who owns the balance.
So, why are there multiple Bitcoin wallets, and what is the difference between them?
Simply put, some wallets are exclusively supported by Bitcoin, and by mining or purchasing a percentage of a full bitcoin you are inadvertently participating in the crypto market exchange where there are finite sources as the number of overall Bitcoins are limited. There are also etherium based wallets which are the most popular crypto-wallets for Etherium. Crypto wallets come in different shapes and sizes: some wallets have exchange markets implemented within the application itself and some of them can be easily accessed for faster trades.
Regardless of your intention or interest in Bitcoin and the Crypto-world, we are reviewing some of the best crypto wallets in 2019 and we have compiled a list that holds secrets to utilizing the best solution possible. Upon further reading, you will likely find out which is the right Crypto wallet for you.
Top 7 crypto wallets
Jaxx is the world’s leading multi-asset digital wallet that
stores both bitcoins and altcoins.
The most probably easiest way to store crypto wallets readily available and account for their accountability currently on the market is Jaxx. It literally can be set up in under a minute and it’s a great way for beginners to access their Bitcoin wallets for safekeeping and trading around the globe learning about crypto trade and storing alt-coins in the process.
It happens to be truly reliable and can store up to 13 different crypto coins.
Available on both Pc and Mac, Android and iOS, keeping track of your alt-coins is easier than ever with Jax.
Jax Supports all the most popular altcoins like Monero, Tether, Ripple and of course Bitcoin, but fear not if your favorite coin is not on the list, more coins will be available in the future as developers are working on expanding Jax’s applicability.
A feature like ShapeShift.io allows you to integrate currency exchanges so you will know exactly at any time how much you own in any fiat currency, and of course, it allows you to export private keys from paper wallets making Jax a simple efficient way of keeping charge of all your crypto data.
Lastly, a seed backup is available in case you damage your device you can restore your funds on other devices with ease.
Exodus wallet is the world’s first multi-crypto currency desktop wallet.
Exodus is truly a work of art when it comes to desktop crypto wallets available for Windows, Linux, and iOS. A paragon for multi-cryptocurrency wallets you will definitely need if you start to acquire more exotic alt-coins like 0x, Aragon, Augur,Basic Attention Token (BAT), Bancor, Civic, District0x, EOS, Edgeless,FirstBlood, FunFair, Gnosis, Golem, iExec RLC, Matchpool,Metal, Numeraire, OmiseGo, SALT, SingularDTV, Storj, Status, WeTrust, Decred and Wings.
Designed way back in 2015 by JPRichardson and Daniel Castagnoli it simply encapsulates every feature you will need for storing, exchanging and keeping track of your digital assets.
The UI is simply strikingly designed in a way that you will have no trouble of figuring out how to use it in no time. The first thing you will see upon opening this wallet is the exchange central along with data statistics which monitor all crypto funds through multiple time frames letting you know exactly how your funds are faring inside the crypto market in the long run.
What Exodus offers from other wallets is thorough customization allowing you to easily set up which altcoin you’d like to view on market exchange, so you can easily distribute them accordingly to their perceived value. Themes and skins can be adjusted too along with a neat pie chart which can show you all your alt-coin balance in one glance. Descriptions for less well-known coins are available so you can inform on what exactly is their unique feature.
Unlike Jax which is not backed by an email, Exodus comes equipped with a feature that allows a one-click restore along with a seed key implementation that you can only use once you deposit some funds. If you use hybrid mining storing crypto directly into exodus upon a certain hash limit is highly recommended.
Exodus offers updates every two weeks so more and more features are to be expected and the help option answers any related questions you might have. Exodus is completely free of charge!
MyEtherWallet (MEW) is a free, open-source, client-side interface for generating Ethereum wallets & more. Interact with the Ethereum blockchain easily and safely from this site.
Mew stands for My Ether Wallet and according to my opinion, it operates as the prime haven for handling everything related to Ethereum. It’s completely free, open-source, along with a client-side interface that can be accessed through any online browser.
A common misconception about Mew is that your crypto funds are stashed within the database of the website. This is simply put not true; Mew allows you to generate new wallets for storing Ethereum without going through exchanges. This process takes place on your computer and not on the services of the site thus making you are solely in charge of your digital assets.
Mew simply put orchestrates your Eth data for you and has several built-in access features letting you chose how you will access it, whether using a Nano S-Ledger wallet through a key-stone or a JSON file or maybe with a mnemonic phrase which constitutes a list of 24 keywords or you to write down a private key or a parity phrase. We recommend writing your mnemonic phrase down on a piece of paper for long-term security and keeping a key-store file somewhere stashed on your computer.
As for the wallet itself, it should be noted that is supported and welcomed among all Ethereum enthusiasts and miners alike so many start-up coins often allow their tokens to be showed on the Mew’s list and changed to Etherium if needed.
Coin payments is a interesting cloud wallet solution giving you the option to easily exchange your currencies and receive them across several platforms easily.
What we tried to do on our list is to include a bit variety when it comes to crypto coins. And Coinpaymentsis is a perfect choice since it offers something useful when it comes to handling crypto funds. Ever since this Free online web wallet started it slowly has accumulated support for more than 1500 crypto coins, since then its popularity has been steadily increasing.
As you are getting familiar with sending funds through one wallet to another you will know that it always comes with a small fee since it’s considered a transaction. Coinpayments does this with very low interest so it’s a great additional wallet to keep along with your primary one since this Coinpayments requires for you to be online when using it.
What really separates this wallet from others is the ability to receive funds from various online stores and other purchasable vendors, what this means basically is that you can easily access it from the website itself and simply pay from your online wallet, there are thousands of online stores which support this feature like cryptopet where you can purchase items for your pets or purchase clothes at sakamaonline.
There is an extensive list here at coinpayments where you can easily spend your crypto funds on charity events, online promotions and get various discounts and similar offers without reaching for your credit card each time you wish to make a viable purchase.
You can also set it up to receive donations for your twitch account or set up your online Instagram store link where people can donate crypto funds to your cause which then lands into the safety confines of your coin payments wallet.
Ledger Nano S
When it comes to security no other Crypto-wallet can compare to the Ledger Nano S.
It’s simply the best crypto hardware wallet to have!
This small portable USB sized device is a tangible virtual wallet specifically designed to hold cryptocurrency securely.
The Ledger Nano S itself is not considered a plug and play device, allowing it to be used without connecting to a computer. It’s equipped with a small LCD screen that allows you to manage your funds without Internet connectivity and for its size, it’s comparative small compared to a USB Flash disk. You can manage and view your funds by accessing the two buttons on the upper side of the device.
Once connected to a computer and the mnemonic 24 key-word phrase has been implemented you can easily trade and transfer your funds via plugins on Google Chrome. The assets themselves, however, remain on the blockchain.
What are some of the features The Ledger nano s provides?
Well simply put if you write your 24-key phrase on a piece of paper access to the device will be virtually impenetrable by hackers since you will be the only person who will have access to them. Once you turn on your device you will need to input your security phrase each time, although this can get tedious at times it guarantees your funds cannot be tampered with by outside sources so it’s a task worth learning to repeat.
In case your Ledger ever gets stolen you can easily restore your account by using the 24 mnemonic word phrase during the initiation process to safely transfer your funds to another Ledger device.
The Ledger Nano S currently supports an ample list of cryptocurrencies most popular being Bitcoin, Etherium, Litecoin, XRP. New assets are being added all the time due to the overwhelming support by the community and the manufacturer Ledger who tests the device and designs additional Apps for your NanoLedger.
And of course, remember that using pen and paper to write your mnemonic key phrase is the safest way to store your funds since it’s not attached to any computers makes is virtually impenetrable to hackers and alike.
A force to be reckoned with, ideal for investors who are not only interested in trading crypto but ETF and multiple stocks as well with a cost of 0$ fees.
We wanted to include all possible options when it comes to cryptocurrency trade management and expands upon the unique features of crypto wallets. Introducing Robinhood: a free trading app for all sort of stock investments and as recently started including crypto assets as well,
Robin hood is both an online exchange market as well as a crypto wallet similar to coinpayments but encompassing both tools of the trade. As you might know by knowing each stock exchange when handling crypto will often take a small fixed fee when trading but also a percentage when withdrawing cash from it, the best thing about RobinHood trading cryptocurrency: it’s completely free! So when keeping crypto-funds in the wallet the amount you get when exchanging is the same as when you invested in it! Pretty neat!
However upon reviewing this amazing online crypto wallet we did manage to find a few flaws, per instance it’s currently only available for mobile apps and you will have to be from the USA if you want to use it, the other downside is that due to Robinhood being new in the crypto game it’s platform still needs a lot of development so that might leave your stashed crypto open to malicious hackers , but that shouldn’t concern you since 5 million people have been reported to use Robinhood for their stocks and crypto as well, with that number in mind, you should sleep well and not worry about it too much.
What coins does Robinhood support?
Currently, Robinhood supports only the most popular coins Bitcoin, Bitcoin Cash, and Litecoin. A Word of notice though, while you can freely deposit the four main currencies onto Robinhood the platform doesn’t allow you to manage your wallet addresses. Basically, you are prevented from transferring tokens from one wallet to another. You are required to transfer cryptocurrency to fiat currency in advance, which is not a bad thing since you can then sell them without any losses making this wallet a fine tool for saving loads of fees in the long run.
A simple straightforward crypto wallet for both Android and IOS to be used interchangeably without too much complexity
For those who are always busy and want to keep track of their crypto funds from the comfort of your mobile device, Mycelium might be the perfect choice for you.
MyCelium was developed by Megion Research & Development GmbH way back in 2008. They have been involved in development for several crypto-applications like Bitcoin card, Mycelium Gear ( a payment gateway), Local Trader, and Tabtrader. Their headquarters is situated in Vienna, Austria. As for their newly praised crypto wallet Mycelium which has been steadily gathering notoriety and came on top as one of the most innovative crypto wallets this year, landing a reward for “Best Mobile App” by Blockchain.info in 2014 which might just prove to be the best bitcoin wallet for android and both IOS readily available.
As for security, we didn’t find any loose ends on this part as well, with a web app coming for desktop support as well you will have no trouble managing crypto-funds both left and right. Once you’re in you will see a nice current exchange rate so that’s something to keep in mind as people rely on separate apps to keep track of those powerful crypto surges and it’s quite handy to have everything down at a push of a thumb. However not all were satisfied with this crypto-wallet, some have found it unreasonably difficult to navigate and although we share their concerns we believe that this problem was met by those which had little to none experience with cryptocurrency.
What coins can you stock in Mycelium?
Mycelium Wallet for the moment only supports bitcoin and allows users to switch back and forth from regular fiat currency (euros, us dollars, etc.) to bitcoin.
With new features coming soon like the ability to connect the app with your credit card on your mobile, Mycelium has proved that being innovative can always put you in the lead!
The name Electrum popped up several times when we were looking for variety as far as crypto wallets go. For those that want a simple easy way to use operate with a cryptocurrency we highly recommend Electrum.
So, what is Electrum?
Electrum is a desktop bitcoin wallet compatible with all operating platforms, designed by Thomas Voegtlin a German computer scientist whose two keywords when envisioning it was probably: Simplicity and efficiency
“Simplicity is the ultimate sophistication.” …
When it comes to security Electrum is simply unparalleled compared to other desktop and mobile wallets due to its powerful encryption methods used to create your own secure seed.
What is a seed keyword?
A keyword seed is a randomized phrase which is then applied to create your own private key:
These private keys are extremely tough to hack, and it’s rivaled only to the security of a bitcoin private key. Always keep your seed word as without it you won’t be able to back up your password if you accidentally lose the password, you can copy it on to a notebook or even split it and keep both phrases separate as this will ensure it’s utmost safety.
The interface on Electrum is as basic as it gets. A window with four main tabs and three sub-tabs contains a ledger of all transactions your wallet partook in both regards to receiving and sending. Options like sending to multiple wallets are available along with the possibility of integrating Electrum with other hardware wallets like Ledger Nano S, KeepKey and rezor.
This further ensures security as you can conveniently transfer funds from one to another with minimal costs. The Wallet itself only charges a small rate of 0.2mBTC the equivalent of one-thousandth of a bitcoin and can even go as low as 0.1mBTC which makes the process quite cheap compared to other wallets.
We should point out that this Crypto wallet is designed only to deal with Bitcoin, as Bitcoin is considered the spearhead of cryptocurrency all other 1200 altcoins simply follow it’s lead, so if you want to focus solely on Bitcoin, Electrum with its high security and simplicity simply does it’s what it was designed to do: keep your cryptocurrency intact.
It should be noted that not all crypto wallets are not without their flaws and even the mighty Ledger Nano s can be breached as shown in an excellent study by 35C3 on multiple architectural, physical, hardware, software and firmware vulnerabilities which are present in any application not just crypto wallets, So it’s important that if you plan to invest a larger sum to be careful and always consider the pen and paper method as this is something which is tangible and corporeal and cannot be targeted by malicious hackers, but in the end you shouldn’t be too concerned as bitcoin has been around for 10 years and millions of users use cryptocurrency on a daily basis and profit from its lucrative technology exceeding properties. On a final note, we wanted to add that we hoped you enjoyed our article and that you shouldn’t feel intimidated when it comes to cryptocurrency as they are really easy to use and pave the way for a better future in which we can trade currencies at ease!