Have you decided to try yourself in the cryptocurrency world? Then you need to think about how to securely store your tokens. This industry comes with risks of hacking and loss of confidential information. There are a lot of cryptocurrency wallets, but the reliability of many can be doubted. For example, according to buidlbee.com, Metamask collects users’ IP addresses. Be that as it may, today we will tell you some of the most reliable ways to store your funds.
There are several types of cryptocurrency wallets. The main thing is to choose one of them that is reliable and safe for storing digital assets. You can install special software on a computer, phone, tablet, or create an online crypto wallet on a website.
What are cryptocurrency wallets
There are several types of crypto wallets, each of which has different ways of storing keys and providing access to them. Three main categories are software, hardware and paper.
Hardware wallets are considered the safest for storing cryptocurrencies. Private keys in them are generated locally and are not transferred anywhere. To protect against hacking and viruses, special secure chips are used, transactions are confirmed by entering a pin code, and a phrase is generated to restore access.
It is worth mentioning the wallets from SafePal. This is a relatively inexpensive wallet among analogues, but quite functional. The manufacturing company raised funding using the Binance exchange. The device has a large screen, many security features, more than 10 thousand supported cryptocurrencies. Also works with NFT tokens.
Coolwallet is another reputable hardware wallet manufacturer. It produces rather expensive devices, but in a very convenient form factor – the size and shape resemble a plastic card, which makes it convenient to carry the device with you. Coolwallet Pro supports over 60 cryptocurrencies and all tokens listed on Binance: Smart Chain, Ethereum, Tron blockchains and others.
The Tangem wallet is a physical card that is attached to the phone using NFC. To confirm a transaction or perform another action, you need to attach the card to the phone. This is quite reliable, because even if the card is lost, the finder will not be able to do anything with it.
The solution has one nuance – the inability to extract the private key. If you want to have a backup, buy some cards.
These services make it possible to connect to decentralized applications, which is especially relevant today.
Browser extension for Chrome, Firefox, Brave from the Binance exchange.
This wallet can be linked to an exchange to instantly send funds from your account to it. Also, the application is suitable for working with DeFi applications on various blockchains that work with web3, including BNB Chain, Ethereum.
Crypto wallet Coinbase Wallet from the exchange of the same name is one of the most popular options for connecting to DeFi protocols.
It supports the main popular blockchains with web3, and also makes it possible to connect custom chains if you know their parameters.
The Argent wallet works with the Ethereum network and the tokens and applications hosted on it. Allows not only to store cryptocurrencies, but also to earn on them, exchange and trade. Using the zkSync’s Layer 2 network layer significantly reduces fees when sending transactions. With the help of partner liquidity aggregators, it is possible to earn up to 5% per annum on your assets.
A convenient multi-platform crypto wallet that supports over 300 assets – receiving, sending, exchanging, buying from a bank card through a Simplex partner. The wallet is anonymous and does not require the user to provide any personal data.
Paper wallets are classified as cold storage. They generate a public bitcoin address, a private key in the form of a QR code and a set of numbers and letters. A private key (Private Key, Secret) is created on a personal device, third parties do not have the opportunity to know it.
In this article, we have offered a huge selection of different crypto wallets for popular cryptocurrencies, and also told how they can differ and which option is better to choose in a given situation. We strongly recommend that you personally control your crypto-keys, and not transfer this responsibility to third parties. This will help you avoid losing access to your wallet and your assets.