Before you start acquiring cryptocurrencies, you must first think about where you will store them. Cryptocurrencies are stored in digital wallets, and that can be on your computer, the cloud, or as hardware. There are many wallets today, but it will take you weeks before you review half of them. Lucky for you we have done the research. In this guide, we look at the some of the best wallets, and it is up to you to decide the best wallet to suit your needs.
These wallets are developed so that the user will download them into their personal computers or laptops. You can use them even without an internet connection. Presently, there are desktop wallets for different operating systems, and they have various security features.
These stand-alone cold storage devices generate keys on the spot when you make a transaction. They have a USB connector, and when you are making a transaction, you must connect them to your computer. Hardware wallets are safe from malware on your computer, unlike wallets stored on your computer. You can secure them with a password ensuring that no one else has access to your cryptocurrencies.
This means that you will have the private key of your cryptocurrency with you and while making a transaction, you must physically type in the complete key. This may sound laborious, but it is one of the most secure ways to store your cryptocurrencies. This is because there is zero chance of being hacked, and the wallet is the only place where the private key is printed. However, since it is paper, you need to ensure that you have copies of it because it can burn, tear, or get damaged in various ways.
Depending on your level of technology, as well as the level of security you need, the above are some of the best wallets in the industry today. In addition, the frequency of use will determine which of the wallets will work for you.