If you are familiar with Blockchain, chances are you’ve heard of a crypto wallet. If you’re unsure of what a crypto wallet is, what it does, or you’re just searching for the best crypto wallets available. We’re going to cover the prime purpose of crypto wallets, and cover a few of the different types of digital asset wallets available.
What is a crypto wallet?
Like a physical wallet that you keep in your back pocket, cryptocurrency wallets are specifically designed for the storage of your digital assets, such as Bitcoin and altcoins. Typically, a crypto wallets prime feature is convenience, and safety. However, with such a wide range of wallets available, selecting the best wallet for your digital assets can be difficult.
Almost everyone has a smartphone these days, meaning an IOS Crypto wallet is currently one of the most popular forms of wallet amongst the cryptocurrency community. They are simple to use and accessible by downloading an app. Perfect for those who are looking for instant digital transactions, whilst on the go.
A hardware wallet is an offline physical device, such as a USB, that can make online transactions. Hardware wallets are known to be the most expensive, yet one of the safest wallets to store your digital assets that are routinely used by crypto exchanges and blockchain venture capital firms to store their large sums of digital coins. Depending on which manufacture you purchase your hardware wallet from, can often determine its convenience, and level of safety offered. So searching for a good hardware wallet is definitely worth it.
A paper wallet is a physical copy or print of your public, and private keys. Paper wallets are considered to be the safest way to store your digital assets due to its inability to be hacked.
Desktop wallets are known as the most risky wallet, due to hackability if you do not have the correct security malware, and computer safety. They are able to be downloaded and installed on a PC or laptop, making them ideal for most people.
Web wallets allow access to your digital assets via your web browser, making them pretty convenient to those who want to obtain their crypto from any device with an internet connection. Of course, choosing a trustworthy wallet is extremely important as your assets are online.