Crypto wallets play a crucial role in cryptocurrency trading. They can either be cold wallets, which are separate tools for storing assets, or hot wallets, which are special programs that allow regular connections to the network.
Here, we’ll present the top five efficient and secure crypto wallets that have the potential for a successful start in the digital currency sphere.
Trust Wallet
The Trust Wallet is an official development of the Binance blockchain system, compatible with tens of thousands of tokens and has an open-source code. It is suitable for simultaneous work with many cryptocurrencies, and its infrastructure allows you to engage in staking without using third-party platforms.
The Trust Wallet operates on the Web3 decentralized system, which allows purchasing digital assets through the Kyber Network ecosystem. This wallet is user-friendly, thanks to free software for Android and iOS. It also has an intuitive interface, making it easy to use even for crypto investors without significant experience. Deposit security is a priority, and users can set a PIN code or configure access to the wallet after scanning their fingerprint.
MetaMask
The MetaMask cryptocurrency wallet is an official extension to the internet browser that combines it with the Ethereum blockchain. It allows storing, transferring, and receiving ERC-20 tokens. Its ease of use is ensured by the absence of the need to host a full Ethereum node to manage a decentralized system.
MetaMask was developed in 2016 and became one of the first tools in the rapidly developing cryptocurrency market. In 2020, MetaMask Mobile was developed for Android and iOS. Its simple interface, consisting of only two tabs, makes it convenient for beginners to enter the industry. With over one million active users, this extension continues to grow.
Coinbase Wallet
The Coinbase Wallet is specialized software for working in the decentralized Bitcoin system, designed for access from smartphones and does not require registration with the Coinbase crypto exchange. The Coinbase Wallet maintains high-security standards for storing ERC-20 tokens. The number of supported coins is constantly growing, and the mechanism for transferring and managing digital assets is simplified, so beginners can quickly get up to speed.
Coinbase Wallet allows users to spend their digital assets on online platforms and decentralized applications, including the purchase of NFT digital art, which is popular in the crypto industry. Receiving and depositing funds to this wallet is free of fees, but crypto transfers to other wallets and currency conversion will cost from 1.5 to 4% of the amount.
Exodus
Exodus software is a convenient mobile and desktop wallet for storing and managing various digital assets and ERC-20 tokens. It belongs to the hot type, but is also compatible with hardware cold wallets such as Trezor One and Trezor Model T.
The Exodus crypto wallet’s design and interface are beginner-friendly, and users can quickly start using it effectively. All the user’s crypto assets in different systems are in one place for easy management and trading operations. From the Exodus cryptocurrency wallet, users can transfer the required amount of funds to any other digital wallet with one click.
Robinhood
The Robinhood platform is a free-to-use website for trading stocks and cryptocurrency assets. Its functionality includes a crypto wallet service for storing, buying, and selling popular cryptocurrencies. A special feature of this tool is the ability to make transactions only between Robinhood wallets, and transfers from other wallets cannot be made.
Robinhood is becoming a convenient tool for storing several types of digital assets in one place. It attracts with a simple interface that is understandable to novice crypto investors who are just “diving” into the world of the crypto industry.