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What are the most secure and reliable cryptocurrency wallets (2017)?

Cryptocurrency wallets store the records of transactions, resembling bank accounts. They permit the participants to buy and sell digital assets. Multi cryptocurrency wallets, as the name indicates, allow the users to have more than one digital currency. For example, a user with a multi cryptocurrency wallet can hold Bitcoin, Ether, Litecoin, and a lot more. Multi crypto wallets also ensure that the cryptocurrency owner is the one and only entity that can access the funds; and that too with certain security gateways.

 

Cryptocurrency Wallets fall under five major categories:

  • Hard Wallets

  • Mobile Wallets

  • Paper Wallets

  • Online Wallets

  • Desktop Wallets

 

Hard Wallets

One of the safest types of cryptocurrency wallets globally. They enable you to store your private keys on a USB drive with which you can make digital transactions.

Advantages:

  • Safest Wallet worldwide

  • Store large amount of cryptocurrencies

 

Mobile Wallets

Available on mobile devices (Android & iOS). You can use mobile wallets, including online wallets when shopping since it’s accepted by a number of stores.

Advantages:

  • Simplified and Convenient

  • QR Code Scanning

 

Paper Wallets

A super cold crypto wallet that can be used once your private and public keys are printed on a paper. You can transfer funds by sending money to a public address.

Advantages:

  • Hack-Proof and Tamper-Proof

  • Not stored on a third-party server

 

Online Wallets

Also known as web wallets, they allow you to access the cryptos through the internet. Your private keys are stored on the wallet’s server, hence safe.

Advantages:

  • Enable quicker transactions

  • Convenient to use on the go

 

Desktop Wallets

Safer than online wallets. Just download and install process. The desktop wallets are highly secure until your desktop is not connected to the internet.

Advantages:

  • The best option for desktop traders

  • Private keys are not stored on a third-party server

 

A few cryptocurrency wallets accepted globally and highly secure are listed below.

  • Ledger Nano X

  • DropBit

  • Electrum


So from the above information, you will be able to choose a cryptocurrency wallet according to your requirements. If you’re searching for a crypto wallet provider, get in touch with Blockchain Firm.

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