Crypto investors need to make use of the most secure crypto wallet to safeguard their crypto assets against hacks.
The cryptocurrency space has been growing rapidly, and hence, many people are interested in joining the bandwagon.
Cryptocurrency is gaining much traction because it’s considered a secure asset — that can not be stolen due to its encryption and cryptographic nature.
But then, we’ve seen numerous cases whereby crypto investors’ wallets were compromised; thus, getting their crypto assets lost to hackers or bad actors.
However, this doesn’t mean that the true concept of the technology behind cryptocurrency — Blockchain technology has failed to prevail, but the wallet that’s being used for the storage of these crypto-assets lacks a strong security architecture.
That’s why it’s very important to make use of one of the most secure crypto-wallets.
So what are the most secure crypto wallets?
We will be listing out some of the most secure crypto wallets. But before then, it’s very crucial to understand what a crypto wallet is — before we dive into the most secure crypto wallets.
What Is a Crypto Wallet?
Just like the traditional bank — where fiat money transactional activities are being carried out, cryptocurrency transactional activities are also carried out on the blockchain.
In traditional banking, users will need a bank account to store their funds, crypto wallet is also necessary for users to store their crypto wallet.
A Crypto wallet is a blockchain product, a digital wallet created — that enables crypto investors to store, send and receive cryptocurrency assets. It is usually created with the attribute of blockchain — to enhance privacy and security.
Hence, it comes with a mnemonic phrase key that users can only use to access their wallet, if it gets lost; no one can have access to the wallet again, and there’s no central authority to summon to retrieve the wallet as they can’t also access the wallet — it’s gone as well.
Likewise, it has a wallet address which is known as a “public address” — a string of alphanumeric that’s used to receive crypto assets to the wallet.
Different Type Of Crypto Wallets
As mentioned earlier, a cryptocurrency wallet is a program that allows you to store your crypto funds in one place.
You need to understand that there are several types of wallets available — the major two are software and hardware wallets.
However, many people consider the hardware wallet as the most secure one.
A software wallet is a mobile wallet — a mobile app that allows you to store, manage and access your private keys on your smartphone or tablet.
They usually have built-in exchange functionality and allow users to send payments from one device to another, or from one application to another.
A hardware wallet is a physical device that enables you to store large amounts of cryptocurrency offline on its internal memory or an external card reader (USB).
They are more secure than other types of crypto wallets as they do not rely on internet connection when sending transactions, but they also cost more than other types of crypto wallets because they have higher hardware requirements (higher storage capacity).
What Are The Most Secure Crypto Wallet
Considering the different theft cases in the crypto space lately, it’s important to safeguard your crypto asset by making use of the most secure crypto wallet for storing, sending, and receiving of your cryptocurrency asset.
Many crypto investors have lost their life savings to hackers due to an insecure crypto wallet that was used to store their crypto assets.
It’s crucial to use the most secure crypto wallet because cryptocurrency is not regulated thus, there’s no regulatory body to reach out to complain about theft cases.
Below is the list of some of the most secure crypto wallets — that most crypto investors have been using over the past few years.
Exodus wallet is a digital asset wallet that’s considered the most secure wallet — which is suitable for beginners and intermediates in the crypto space.
It enables users to store, send and receive a wide array of crypto assets — over 150 crypto assets. It also has stunning and intriguing features that make it to be among the best.
The Exodus wallet can be considered a wallet for everyone — because it has different wallet products including desktop and mobile wallets. It also has hardware as it has integrated Tezor wallet into its service.
Likewise, it enables users to buy, sell and store NFT as it partnered with Magic Eden (an NFT marketplace).
One of the most interesting parts of Exodus wallet is also that it has partnered with FTX (a popular digital asset exchange platform), thus; Exodus users can access FTX exchange services seamlessly and eventually transfer assets within the two products.
It also allows users to earn interest on their crypto-asset — when they stake them within the app.
Exodus is a non-custodial wallet — which means users are in full control of their digital assets.
For anyone that may want to transact BTC instantly – compared to 10 min TPS, and also pay a very low transaction fee, Exodus can be their best choice because it has an integrated lightning network feature.
Metamask wallet is yet another digital asset wallet that can also be categorized as the most secure crypto wallet.
It’s a cryptocurrency wallet that enables users to send and receive crypto assets and NFTs, and also trade these assets by using Dapps within the app.
The wallet can be used effectively on desktop and mobile (Android and IOS), and it allows users to create multiple wallets on the go.
Metamask doesn’t require users to give out their sensitive data before they can start using it — as it is a non-custodial wallet.
However, it can be used effortlessly only by sophisticated users.
Trust wallet is a non-custodial wallet that is recommended for beginners the most.
It enables users to store, send and receive different cryptocurrencies that are available in the market. It can also be used to send and receive NFTs, and of course, it supports a wide array of chains.
It’s only supported on a mobile device, and cannot be used on a desktop.
Users can also access different DeFi services within the app.
There are many cryptocurrency wallets available, and many more have been created continuously. But then, it’s very crucial to make use of a secure crypto wallet to store crypto assets.
You should filter the most secure crypto wallets, and choose the one that meets your standard or need — according to its features and products.
The wallets mentioned in this article are considered some of the most secure crypto wallets that have been in existence and have been used for a while – which have established a name in the crypto industry.