What are cryptocurrency wallets?
A crypto wallet is software that allows users to store their digital assets. It is a safe place for a user to store their cryptocurrencies. Once stored in the crytpo wallet it is possible to make transactions from there. Imagine a real wallet online for your cryptocurrencies and you have a crypto wallet!
Some softwares offer both trading options and wallets and some just one of the above. Here is a list of our favourite wallets and why!
Check out our top 5 cryptocurrency wallets to get you started
The Trezor wallet is a hardware wallet making it one of the most secure wallets on the market.As the wallet is a physical device and is never connected to the internet server it is virtually impossible for the owner to be hacked.
The Trezor wallet allos yous to send, store and receive a large number of cryptocurrencies. The Trezor wallet has been super popular since the first model, the Trezor 1 was released in 2014. The newest model available on the market is the Trezor Model T will some new improvements.
Not only does Coinbase offer trading options but also gives users access to a wallet to store their cryptocurrencies. Coinbase offers a very easy to use interface which makes it our top choice if you are new to the crypto world!
The Electrum wallet safe, fast and private due to it being a lite wallet. This means it does not download the blockchain, therefore having no delays.
The wallet is only available on desktop and requires the user to download and run the wallet on their computer. Unfortunately this wallet isn’t available on mobile devices which limits the uses.
Blockchain wallet is a software cryptocurrency which allows you to install your wallet on your desktop or on your mobile device. With the Blockchain wallet the user can store Bitcoin, Ethereum and Bitcoin Cash which is a small list in compared to other wallets available.
There are fees included when transferring cryptocurrencies to and from the wallet which are subsequently given to the mining community that authorise and record each transaction. The higher the fee paid, the quicker the transaction!
Mycelium is a great cryptocurrency wallet for smartphones. It boasts a very impressive app which is very easy to use and is perfect for users who hold small quantities of bitcoin and only want to use them on their phone.
Mycelium is a software cryptocurrency wallet meaning it is stored online. This is less secure than hardware wallets, however you are unlikely to have any security problems if you are the average user!
One downside of this cryptocurrency is that it only stores bitcoin and no other cryptocurrencies.
Where can I buy cryptocurrencies?
Palace of Crypto Exclusive: The Ledger Nano X
The LEDger nano x
Nano s vs. nano x
Here’s a breakdown comparison of the Ledger Nano S vs the Nano X.
Alternatively you can get both in the Nano bundle – using the X for trading on the go, and the S for securely storing your assets at home.
Save £26.50 when you purchase the bundle here.
LEDGER NANO - X
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