Cryptocurrencies are in recent times, gaining incredible popularity, and you can most times hear about them from ordinary people or people on the streets. More companies and business owners are also beginning to accept and receive payments in bitcoins and other popular coins as most users need easy and convenient ways to pay for goods and services.
This has led to the increasing need for mobile wallets, unlike hardware wallets that require a computer to connect to before making a transaction. With mobile wallets, you can have access to your digital currencies anytime and anywhere. Mobile wallets differ in the type of coins supported and their security features. This article thus provides an overview of significant crypto wallets and their specific features.
1) Coinbase wallet
This is one of the easiest ways to sell, buy and hold cryptocurrencies. Which makes it number one on my list. You can link or connect your U.S bank account with your coinbase wallet and transfer dollars with ease in and out of your wallet. You can buy ethereum and also sell with coinbase. In addition to ethereum, coinbase currently supports Bitcoin Cash, Litecoin and bitcoin. It is swift and quite easy to use.
Coinbase wallet allows you to make use of offline storage when large sums of money are involved. Coinbase wallet has the highest rating on the play market with over 150,000 reviews. It also ranks as the best among users as well. Coinbase security system is a little bit more upgraded when compared to other mobile wallets. It uses two-factor authentication, a secure password and a seed key. Coinbase has a massive number of investors and is also backed by reputable exchanges.
2) Jaxx wallet
This is a crypto wallet that is available for both Ios and Android. Jaxx also has a google chrome extension aside these mobile versions. Jaxx supports over 80 altcoins and has a smooth beginner-friendly interface making it very popular among inexperienced traders. Depending on the particular cryptocurrency, Jaxx charges the same flat rate or fee for every transaction.
Some of the unique features of the Jaxx wallet includes;
- It generates excellent platform support and customer care support via social media platforms and emails;
- It enables users to track the market by giving them access to analysis in market caps, price changes and latest trends.
3) Coinomi wallet
This wallet is the perfect option for users intending to keep multiple coins at the same time. It supports a vast number of assets, over 120 cryptocurrencies. This wallet is one of the best android bitcoin wallets because of its top security features( complete anonymity one-time backup and wallet encryption). This application is free, and you only pay to the miners. This wallet also features its own exchange.
4) Edge wallet
This digital currency wallet which was previously known as Airbitz, gained popularity and recognition because of its strong emphasis on privacy and high-security level. It is one of the best bitcoin wallets that allows you to collect, store and send bitcoin around the world. Some of the main features of the Edge wallet includes;
- Protection of data, while unencrypted and unprotected data is never stored in mobile cache storage or memory;
- Bluetooth connectivity is available, and you can also connect via near field communication known as bitcoin transfer channel;
- Secure and simple transaction as users can send or receive money using the QR code;
- It uses a decentralized server to help in keeping your assets available always and protects you from hackers;
- It is beginner-friendly and supports multiple currencies.
5) Exodus wallet
Exodus is referred to as one of the best crypto wallets because it offers mobile, desktop and hardware wallet for its users. It also provides to its users the ability to exchange between multiple platforms. One of the kickstarts about this wallet is that the user interface is very attractive, and any user can make a transaction without knowing much about the wallet itself. It also supports all the popular cryptocurrencies you can think of. You can as well link your bank account to your portfolio and can purchase Ether or Bitcoin using Fiat deposits.
This is one of the most popular cryptocurrency wallets for bitcoin. But it also works for stellar, bitcoin cash and Ethereum. It is very reliable and trusted, that is why it attracted over 60million U.S dollars of investment in 2018. This wallet does not have a high transaction processing rate, and thus you might experience little failures at times when doing transactions. Its security level is very okay as it uses two-factor authentication, a secure password and a seed key.
Conclusively, every wallet differs from another based on their unique features and peculiarities. Every user has his or her preference while choosing a wallet, but things you should look out for before choosing a wallet includes;
- Supported Cryptos
- Available account types
- Back up features
- Technologies involved
- Security level
- Customer support, etc.