Cryptocurrency is a huge rollercoaster of emotions. At some point you are up, at others you are down, you are happy, you are sad, you are hopeful. It is traumatic at times and you have to have a stomach to be a crypto holder. Sometimes you need to risk it to get the best rewards other times you have to play it safe.
When it comes to crypto there are several things you need to watch out for to make money off it or to buy it as much as possible without investing a lot. There are factors, markets, movements, actions and reactions that influence these things a lot. Whatever happens and how much crypto you get, sell, trade or exchange has to sit somewhere before it comes to that. Where will it sit? Well, crypto needs a special place called a crypto wallet.
As you can see today, we are discussing just that and today we will tell you about the best wallet for a lot of different cryptos. Now, there are plenty of cryptocurrencies out there, there are plenty of main and altcoins you can hold and all of them, most importantly, need to be safe. For that, you need a crypto wallet that can hold and store all of your coins and you need a good marketplace if you want to safely and securely obtain more of them.
If you are interested in this check out cryptex.net.
By now you all know that two types of wallets can hold crypto – hot wallets and cold wallets. The job they do is pretty much the same, the security level is something that differs a lot. In hot wallets, you are protected by the password you set and that password is online as is the wallet app you are using. To most this seems to be an insecure way of storing your crypto especially if you have a lot of it. Cold wallets are hardware wallets and they come in a form of a thumb stick they have a security level that is higher up and these wallets are not connected to the internet all the time.
We will be discussing the hot wallets today since most users that dab into crypto decide to use these since the amount of coins they have is not that much and since they use these to trade, pay and store very small quantities for themselves.
When it comes to crypto wallets there are some things, besides safety, you need to consider and those are beginner-friendly interface, the number of assets it supports, signature and authentication factor as well as which trading platforms back that wallet up.
In our research, we found one that we think is the best overall hot wallet out there and it is the Coinbase wallet.
The neat thing here is that this wallet app goes together with the Coinbase exchange which is a bonus and it is very easy and useful to link up your Coinbase trading account with your wallet for convenience and easy tracking.
Besides this, the Coinbase wallet is rather simple to use and is one of the most user-friendly wallets out there. If you are a total beginner in crypto and if this is your first time dabbing in the wallets, trading and crypto in total then this wallet will make your understanding and navigation straightforward.
This wallet app will be clear and intuitive. It has three tabs that are simple to navigate. As we already mentioned, an important thing is that it easily ties to the Coinbase trading platform and it will allow you to shift your funds to and from the training and wallet platforms. There is a small fee because you are using blockchain but it’s nothing that significant.
When it comes to coin support, this wallet app supports all major coins Bitcoin, Ethereum, Dogecoin, and Litecoin, as well as ERC-tokens and tokens that are compatible with other blockchains such are the coins compatible with EVM blockchains. When all of that is combined it can store and move around more than 40,000 digital assets which is not something you should take lightly especially when we know that there are wallets that can’t hold more than major coins, or that do not support altcoins and similar. Most of us are into the major coins but there are altcoins that almost daily make breakthroughs and can be used to turn a quick buck, which is why support for them is important.
When it comes to this wallet has one advantage over other hot wallets. The password you set for your account is set on your device locally instead of on Coinbase servers. Most other wallets tend to store your passwords on their servers and they are boasting of increased security, but it is always a big relief and a step forward when an app like this allows your passwords and sensitive information to be stored locally on the device you are using.
Another thing that makes Coinbase wallet a big deal is the availability to use the biometric capabilities of your device to set a password and protect your assets. The app can utilize the face and fingerprint features of your device (given the fact that your device has these features) to add another layer of protection.
When it comes to conversion of your takes into FIAT currency or any other tokens it is important to know that all of that is done internally and there are no third parties for this. No intermediaries mean no additional security breaches and also important, no additional fees.
For those of you that also like NFTs and like to trade on the NFT markets, this app is going one step forward and they allow linking to some major NFT exchanges which is another great thing and a bonus that might sway you to go with the Coinbase wallet.
Whatever you chose is up to you. in this case we urge you to do research and write down all pros and cons of all of those wallets and choose the best one. Do the online research as well and see what other users think of them.
This is important and this will be safe that will hold your belongings. Coinbase is a decent pick and a great all-rounder, but again do your research and choose whatever is looking and sounding good for you.