The prices of cryptocurrencies have touched the sky, and every day it is overwhelming to see the crypto industry growing by introducing new digital assets to diversify your portfolio. However, suppose you have already done fundamental analysis and found out the cryptocurrency you want to invest in; in that case, it is crucial to learn about the process of buying and storing cryptocurrencies. The most important thing is to know how to purchase bitcoin from crypto exchanges and store digital assets in a digital wallet. Then, get your hands-on on the best Auto Trading App that can help you become a genius of cryptocurrencies by trading them profitably.
Here in this guide, you will read about the best ways to store your digital coins and learn about crypto wallets’ benefits and detriments. There are multiple wallets available in the market, including hardware wallets, desktop wallets, mobile wallets, web wallets, etc. It is best to choose the wallet according to your requirements and goals. Mobile wallets are the best and highly convenient wallets. As everyone carries their mobile phones with them, you can anytime make and receive payments of cryptocurrencies. There are various types of mobile wallets available online, out of which some are for beginners while some are for experienced.
You can choose the best crypto wallet that is suitable for your needs. So, let’s learn about the best crypto wallets.
Exodus – Beginner-friendly mobile wallet
Exodus is one of the best mobile crypto wallet apps, especially for beginners users who aim to buy and sell only a small amount of crypto coins. Exodus provides an excellent user interface for beginners to make them comfortable with technology. Therefore, it is one of the most preferred and welcoming wallets to store your crypto coins. As it is a software wallet, you would require an internet connection to use it, and it is intuitive and easy to use. While there are many other wallets available for beginners, Exodus is one of the most beginner-friendly wallets.
It is a multi-currency wallet that users can easily download and install on mobile devices, and it is compatible with both iOS and Android applications for free. Exodus also has a desktop version wallet that you can use from your computer.
Trust Wallet – Best for Beginners
Trust wallet is a beginner-friendly mobile wallet introduced by Binance, one of the best crypto exchanges. Trust Wallet is a software wallet that supports more than 40 blockchains that means it is best to store the best altcoins. Its supported standards include ERC-721, BEP2, ERC-20, BEP20, and more. Recently, the Trust Wallet added Binance Smart Chain support. It is a decentralized app that doesn’t concern your sensitive information and doesn’t require you to submit or provide access to personal details. Instead, it stores private and public keys locally to ensure maximum security to users’ funds.
The wallet offers an excellent user interface and is relatively easy to use. It is suitable for beginners and advanced traders as well. For advanced traders, it offers the best security features to protect coins. The wallet is compatible with both Android and iOS devices.
Electrum – Best for Advanced users
Advanced crypto traders mainly don’t go with hot wallets as these are risky wallets, but they love it in this wallet. Electrum is the best and most established mobile wallet globally. It is a hot wallet that got introduced in 2011 after the invention of bitcoin. The source code of Electrum is open, and this is why it is one of the best wallets that advanced traders prefer. Because of its open-source code, it works for multiple blockchain developers that have worked on cryptocurrencies over these years.
The user experience and interface of Ethereum are beyond amazing, and it remained the same all these years. The layout of Electrum is quite simple, and it performs its job outstandingly. Electrum is the best wallet amongst all the hot wallets as it is incredibly reliable and stable and makes the best coin for experienced traders. Furthermore, it makes sure users store private keys securely and offers the feature of multi-signature and two-factor authentication to all its users.