The world economy is showing a major shift towards a digital environment. Every transaction is carried out online without any hard papers. The digital arena recently got added with cryptocurrency that is making life even better. Cryptocurrency is not much different than US dollars, but it is made with the motive of exchanging digital data. Therefore, keeping it safe is very much necessary.
The Evolution of Cryptocurrency Since its Creation
Since cryptocurrency gained fame in the mainstream, it has been showing rapid growth in the economic realm. But, why so? There are several reasons behind it. Being fraud-proof, cryptocurrency does not permit any authorities to control it, not even the Government.
Blockchain technology guarantees safe transactions that make it completely out of the reach of hackers or any scammers. Over “two Billion” people are accessible to the Internet who do not have proper access to the conventional system, so they are advised to go for crypto.
However, you need to keep one thing in mind, and that is once your crypto holdings gush in value, it will get much attention from the scammers. It might sound unpleasant, but the truth is unavoidable. To prevent such unsettling events, holders are decentralizing crypto storage by eliminating cryptocurrency from the exchange. This is where purchasing wallets for your crypto assets becomes the most necessary to keep them secured.
7 Mandatory Wallets for Keeping your Crypto Safe
It would be best if you had wallets to protect your currencies, and this is what you will exactly get to know in this article. Know how to keep digital cryptocurrency protected with the 7 must-have wallets.
Keepkey is not that old in the business. It has come up with a hardware wallet with a very clean design. This wallet is commonly recognized as a port of Trezor’s code and firmware. It is like a premium wallet. However, it might be a bit on the heavier half, and resultantly it becomes more vulnerable to drops. In short, it is created with standard and is quite straightforward to operate client UI.
This one has become a lot popular in its ground even being quite new in the market. It is a new non-custodial creation that has acquired a huge user base. It should be a primary pick as it already has the place to support more than 300 major coins and tokens. All the major operating systems such as Windows, Linus, Mac, Android, and iOS have the place for Atomic Wallet as it is easily available for all of them at present.
Another benefit of going for the Atomic Wallet is that it bestows a long-range of specifications, such as a default option for purchasing cryptocurrency just with a debit/credit card, “decentralized storage for private keys”, and instant exchange of assets. That was all about its typical features.
But, do you know what sets Atomic Wallet apart from the other wallets? It is none other than Atomic Swaps. It is a new decentralized transaction technology created based on hash timelock contracts. This particular feature is only obtainable for Bitcoin (BTC), Litecoin (LTC), and QTUM. Recently, Atomic Wallet also added the name of Ethereum in the list of Atomic Swaps.
Guarda is a wallet made for software, and it is running successfully in the business for over 5 years. This one originally joined the market as an open-source single currency wallet when the market was in need. Now, it has evolved more than expected, and it has grown as a prospering ecosystem of products along with crypto monitoring services.
Several creativities have been applied during productivity. Nonetheless, the preliminary plan was really transparent as ever. The whole team aims to make an easy, completely decentralized, and pretty flexible cryptocurrency wallet fitted for all the beginners and the advanced users.
Guarda Wallet has evolved much and has a room for 45 leading blockchains with their tokens. It is also inclusive of the ones that are also not normally seen in multi-asset wallets. For instance, Monero XMR which has the support of the web version. Guarda is proving every time being the best as it stays user friendly besides applying high-quality solutions for making the wallet set itself apart.
It is another quality hardware wallet. Trezor is one of the very first ones in the realm of hardware wallet business. It is considered as the grade A space created to secure cryptocurrency. What is it so popular for? Well, Trezor is the one to provide high-quality protection to your crypto assets, keeping it safe from both physical and virtual theft.
It might not bear the look to turn many heads but can definitely show its capability through the work it does in securing the crypto assets. The best part of using a Trezer wallet is that even if your computer bears the chances to get exposed to malware, your private keys will always be in the safe hands of Trezor. Trezor basically acts more as a treasury than a wallet in such scenarios. So, once you own one Trezor wallet, you can sleep peacefully.
Nano Ledger S
This is another hardware wallet that has mainly got fame for its work at a comparatively lower price. It costs as low as 65 USD. It is cheaper than its competitors. It is portable and easier to carry from one place to another compared to Keepkey. The lower price of the wallet actually made it quite highlighted in the market.
This is a paper wallet. A paper wallet becomes quite necessary for the ones who desire to possess their very own personal wallets. They will be able to use their saved money for investing in the coins. You can create your wallet online on myetherwallet.com.
A good thing about this platform is that it does not store any of your personal data. It also comes with an offline version that you can download before use in case you are in doubt with the online one. Download it from GitHub and use it offline as much you want. It is better to keep it in your head that paper wallets are free to use, but it can be operated successfully only when you gain enough knowledge about it.
Have you used GDAX? Coinbase is exactly the novice version of “GDAX”. Coinbase is a “hot wallet” which can be easily transferred to the “GDAX exchange” without any hindrance, and the transaction is completely free. It is only limited to Bitcoin and Ethereum wallets.
Being a software wallet, it is a lightweight crypto wallet for mobile and desktop users. It has various features that have given it the position of the most flexible wallet of the present decade. It also comes up with a collaboration with hardware wallets like Trezor and Keepkey. In short, it is quite the one to make your crypto assets safer than ever.
No wallets have been released till now that can be all in one. You have to go for the right wallet based on your assets and the protection you need. Always understand what your primary requirements are. Then, go for choosing the perfect crypto wallet to keep your assets completely safe from the scammers’ sight.