One of the most essential things for buying, selling and trading cryptocurrencies is a crypto wallet. A cryptocurrency wallet is where you can store your digital currency securely and protect transactions.
These wallets can be hardware or software and they provide several other benefits to traders besides secure crypto storage.
In this guide, let us take a look at some of the best cryptocurrency wallets you can choose from in 2022.
Coinbase is a perfect crypto wallet for beginners for its security and intuitiveness. It offers two options to choose from depending on your level. If you are a beginner, you can store your crypto in a web wallet that can be accessed through your browser. The website is protected with multiple protocols including two-factor authentication for each login. Another option is to download the app to access a non-custodial wallet.
Coinbase app features an easy-to-navigate interface with a simple layout and clear functions. It serves over 100 countries and 35 million people and can store digital collectibles and NFTs. It supports over 500 crypto assets and can connect to almost any bank account for easy trading. With this wallet, you get in-app access to a decentralized exchange where tokens can be converted without intermediaries.
If you are in search of a secure place to store your cryptocurrencies but also want to access powerful trading features, Binance is a perfect choice. This wallet can double up as a centralized exchange that gives you access to more than 1000 markets covering virtually every digital currency from DeFi tokens to large caps. It offers some of the most powerful crypto trading features including staking, Options, and Futures.
The wallet app can be downloaded for free on Android as well as iOS devices and the app links to your Binance account. The platform implements security features like device and IP address whitelisting to prevent any unauthorized access to your wallet. You can use the app to buy and sell digital currencies at a commission rate of only 0.10%.
If you prioritize convenience when looking for a cryptocurrency wallet, Kraken is a good option. The provider offers a crypto exchange platform that facilitates buying, selling, exchanging, and investing crypto assets. At any point, you can convert your assets to another token without having to send them to another exchange.
Kraken is one of the oldest Bitcoin exchanges and comes with support for over 120 coins in more than 150 countries. It also supports crypto futures and spot trading. It utilizes several security features like air-gapped cold storage, SSL encryption, 2FA withdrawal email confirmation, and strict surveillance.
A well-established crypto wallet focused on Bitcoin, Mycelium is one of the oldest in the market. It is a mobile-only software wallet that continues to be the perfect option for iOS and Android users. Mycelium has a simple user interface where you can quickly find all the options to manage your crypto tokens securely. The non-custodial wallet boasts powerful features like spending accounts and cold storage integration and gives you complete control over transaction fees.
The Mycelium app is open-source and has partnered with different providers to offer financial services. It also has a decentralized exchange where users can interact with one another and trade crypto securely. It uses several levels of PIN protection and strong security protocols to protect your digital assets against any intrusion. For advanced users, it allows setting custom transaction fees, supports QR codes, and facilitates compatibility with several hardware wallets.
Ledger Nano X
The second-gen cold storage wallet from Ledger, Nano X boasts an integrated Live platform supporting over 1800 tokens and coins including ether and bitcoin. The wallet supports USB cable and Bluetooth connection to work with computers and mobile devices. It has a sturdy build and features an LED screen. To get started, you set a PIN and a seed phrase which acts as your private key.
Ledger Nano X utilizes certified chips to store private keys so that they are protected against any theft. You can use the app on your mobile device to quickly view your balance from anywhere. Apart from trading, it allows lending and staking crypto to make some money.
Designed to be one of the simplest crypto wallets in terms of setup, Zengo is an ideal choice for beginner and intermediate investors interested in making quick purchases. The non-custodial wallet employs next-generation security protocols to ensure the complete safety of digital currencies. The product comes from an innovative company that aims to solve the serious problem of passwords and private keys.
The keyless mobile wallet is built with an extreme level of security that makes it impossible for hackers to get access to your storage. It combines several technologies including facial biometrics to keep your wallet hack-free. Zengo lets you buy and sell crypto from within the wallet and even allows earning interest on holding.
An excellent crypto wallet for users interested in using digital currency and not just holding it, crypto.com is one of the fastest-growing cryptocurrency exchange platforms. It comes with support for over 250 coins and allows buying, selling, and holding a variety of crypto with competitive trading fees.
The platform was established in 2016 and currently serves over 10 million users from more than 85 countries around the world. The site uses cold storage, a 2-step verification system, and a host of other security features. It boasts an easy-to-use interface and responsive customer support.
These are some of the most popular cryptocurrency wallets that facilitate storing and trading your crypto assets securely. While there are several other options available in the market, it is advisable to choose the one that employs state-of-the-art security features and suits your usage requirements.