When getting started with cryptocurrencies, the first thing to do is to provide a safe and convenient place to store funds. There are special crypto wallets for this.

There are 4 basic categories:

  • Cold or electronic wallet
  • Online wallet
  • Mobile Wallet
  • Wallet on crypto exchange

In addition, there is a division into single-currency and universal wallets. The choice depends on the current tasks and the degree of user activity.

But in any case, there are the best wallets for cryptocurrencies in every category. Their main features are high security and ease of use. This review will help you find out which wallet is the best fit and will give you the opportunity to store coins, make money on the exchange or get wide access to financial instruments.

As the head of Profinvestment.com Sergei Vorobey notes, if the goal is simply to buy and store funds in cryptocurrency, then the best choice is a cold wallet . This is the most reliable way to save coins, because all the information is on a special flash drive and no problems with a computer or mobile phone will create a security risk. Most of the popular coins are usually installed on such wallets.

An online wallet has the widest range of actions. In addition to storage, it is possible to carry out exchange transactions, track quotes on the cryptocurrency market, invest coins in various financial instruments

Mobile wallets have become widespread relatively recently. As a rule, their functionality is more specialized. Often such wallets are created exclusively for a separate ecosystem. Therefore, not all currencies can be stored on them, but this is compensated by the wide coverage of services that this ecosystem provides. In addition, the best cryptocurrency mobile wallets have access to all major blockchain networks and allow you to store all major coins. The main advantage of this method of storing crypto money is quick access to your funds.

The last variety is exchange wallets. They provide the opportunity to trade on the stock exchange. This does not prevent you from storing cryptocurrency on such wallets, but there have been more than a few cases of hacking the exchange and stealing funds from the accounts of participants. Therefore, if we are talking about long-term storage, then it is better not to use this method of storage.

Overview of cryptocurrency wallets

Hardware wallets

Ledger

Provides the ability to store more than a thousand tokens. Connects to both PC and mobile phone

Safe

These are 2nd generation cold wallets with the ability for users to instantly access third-party exchanges through an Internet interface. It is possible to set additional levels of protection.

Online wallets

Exodus

Supports most currencies in ERC-20/BEP-20 networks. It is possible to exchange cryptocurrencies. Private keys are controlled by the owner. Replenishment is carried out without commission

Jaxx

There is a version for PC, mobile phone and a Chrome app. Allows you to store a large number of cryptocurrencies. There is a built-in ability to buy coins directly from the card. No replenishment fee

Electrum

Popular among Bitcoin holders. Provides access to open source. It does not require downloading the entire blockchain, so it works very quickly.

Mobile Wallets

Coinomi

Reliable wallet. The keys are stored directly on the phone. Does not require user identification. Wallet transactions are not tracked. Supports all major coins.

Coinbase

Reliable wallet for storing the most popular cryptocurrencies, as well as coins in the ERC-20 and ERC-721 networks. Private keys are stored in the cloud, which reduces its reliability, but guarantees their safety. It is possible to use decentralized applications. It is convenient because it is connected with the Coinbase exchange and there is an opportunity to conveniently trade on the exchange

Metamask

Created on the basis of the Etheteum network. It currently supports many other networks, making it a multi-currency and convenient way to store and make payments. Considered the best wallet for cryptocurrencies in 2022 in its segment.

Exchange wallets

Binance

One of the leading exchanges allows you to store all the currencies that are quoted on it. The wallet allows you to store not only cryptocurrencies, but also investment instruments, margin trading and many other functions.

Huobi

A popular resource with a wide selection of trading instruments. It has a reliable system of protection against hacking, which allows you to fearlessly store funds on this wallet. Allows you to conduct OTC transactions and carry out mining and staking.

Source: https://profinvestment.com/