The popularity of cryptocurrency has grown rapidly over the years. Nowadays, a lot of people trade cryptocurrencies like Bitcoin, Dogecoin, etc. However, some hackers are looking to steal your money. So, to be safe, you’ll need the best crypto wallet app. Your crypto wallet can truly protect your cryptocurrencies from hackers, exchange outages, and your own potential paper trail.
Storing and managing your cryptocurrency portfolio is simple with the best wallet. If you are interested in buying and storing cryptocurrencies, you probably need a cryptocurrency wallet. You should find a cost-efficient wallet, customer experience, cryptocurrencies that are supported by the wallet, etc.
Crypto Wallet: Hot-Wallet Vs. Cold-Wallet
A hot wallet is an online wallet to trade cryptocurrency. The simple interface makes it ideal to trade Bitcoin or other cryptocurrencies on exchanges or to store them temporarily after purchase or before selling them. Since hot wallets are online-based, there is a risk that your Crypto will be hacked or stolen. Once your password is hacked, you might lose access to your Crypto.
Cold wallets are less convenient but very safe as compared to online wallets. You can use your cold wallets to store your private wallet keys offline. This keeps you on the safer side since the hackers or software can not steal your Crypto. Your cold wallet will keep accepting payments; however, you should manually approve the transfer if you have to transfer the payments.
Should I Get a Hardware Wallet for Crypto?
Keeping your cryptocurrency safe is a challenge. You never get access to your Crypto if you lose them once. So, you should know how to keep your Crypto safe from hackers and malware. You are the bank to store your Crypto. So, the security of your Crypto is in your hands. So, it would be best if you stored them safely.
No one can access the cryptocurrency tokens in your hardware wallet unless they have the specific hardware device or its backup seed phrase. This is very hard to get. You can secure your wallet with pin codes, passwords, and biometrics.
Here are some of the pros of using a hardware crypto wallet:
- Offline data is incredibly difficult to hack.
- You have good control of your cryptocurrency.
- KYC (know your customer) requirements are not required.
5 Best Crypto Wallet Apps 2021
1. Coinbase Wallet
Cryptocurrency has the potential to revolutionize money and transform the financial system worldwide. Coinbase is popular among more than 35 million people in over 100 countries. They use the coin base wallet for buying, selling, storing, trading, and earning cryptocurrency. Anybody – anywhere – can access cryptocurrency with ease and security thanks to Coinbase.
Another level of security is provided by Coinbase’s software wallet. The Coinbase wallet app is the best cryptocurrency storing app for intermediate to advanced users. Despite this, many Coinbase users are unaware that Coinbase Pro (formerly GDAX) comes with minimal fees.
Its great security is yet another benefit of Coinbase Pro. Hackers can’t steal more than 2% of users’ funds via an online attack on Coinbase Pro because 98% of the funds deposited on the platform are stored in cold storage.
Features of Coinbase Pro Wallet
- Trading fees on Coinbase are typically much higher
- Detailed trading indicators and an improved user interface
- Market and order limits can be set
2. Gemini App
Gemini is a leading app for crypto trading in the market today. No matter how experienced you are or how new you are, Gemini has all the tools you need to purchase, sell, and store your Crypto.
The Gemini app makes it easier to build a crypto portfolio, execute your trading strategy, and keep up with daily market trends.
Whenever and wherever you want, you will be able to track market prices and asset prices using Gemini. Using the app, you can easily set price alerts for individual assets so that you can react quickly to price movements. You can schedule recurring bitcoin and other cryptocurrency purchases if you wish to average your hold price while steadily increasing your crypto holdings.
Moreover, Gemini’s cybersecurity and custody solutions are second to none. It takes only 3 minutes to log into your Gemini account and buy-in when you create a free account.
Features of Gemini App
- The portfolio tool is simple, elegant, and secure.
- Volume traders can get discounts of up to 0%
- Provide effective security measures
- Investing in the financial sector relies on regulation.
BlockFi app is a great app that is easy to sign in and use. Signing into the Block Fi Crypto wallet app requires less than two minutes. As soon as you log in, you can begin trading. You can trade any cryptocurrency with this wallet. BlockFi Interest Accounts (BIAs) allow you to earn up to 8.6% APY on your cryptocurrency. By keeping Crypto with BlockFi, you can earn interest in Crypto. The monthly interest payment is made for interest compounded daily.
BlockFi Trading lets you buy, sell, or exchange several cryptocurrencies at competitive prices, and you can begin earning interest immediately after your trade is executed.
It is unnecessary to deposit a minimum amount of money into the BlockFi Interest Account to earn interest. Cash can be obtained without selling Crypto. Using BlockFi, you can borrow against your crypto assets and still hold on to them.
BlockFi typically processes withdrawals the same day, and the organization does reserve the right to take up to 7 days to process a withdrawal. As Interest Accounts grow and as clients provide feedback, these guidelines will be improved.
Features of Block Fi Wallet App
- The app is excellent for those who are new to Crypto or experienced traders.
- The client service managers can address any question.
- To protect your assets, BlockFi has created the best compliance program.
Crypto.com is a crypto asset wallet that will keep all of your cryptocurrencies safe. Downloading and signing in to the Crypto.com App is fast and easy.
If you have your Crypto.com wallet, you can get a compound annual growth rate (CAGR) of up to 6.5%. Along with that, you can also have Bitcoin with a 12% CAGR on stable coins. Also, you can have a Metal Visa Card with almost 8% rewards back(max).
Trading cryptocurrencies at true market value is another amazing feature of Crypto.com. The crypto wallet fulfills your basic cryptocurrency needs. You can also get an instant loan to trade Crypto in this wallet. There are no hidden fees that you should fear.
You can store your Bitcoin, Ether, Litecoin, and Stablecoins in your crypto.com wallet. You can trade these cryptos via your credit/debit card or via bank transfer.
Features of Crypto.com
- Crypto.com is best for every trader.
- You can store different cryptos in this wallet.
- Accessing your Crypto is easy and secured.
Zeno is a popular bitcoin and cryptocurrency wallet that uses “threshold signatures” to ensure high security in its non-custodial wallets. This wallet is very safe. The key is not only phone based. Your phone has a key, and the other is on the server. So, even if you lose your phone, your Crypto is still safe inside the Zeno wallet. Zeno supports the use of your smartphone’s biometrical scanners to protect your private key.
Zeno allows users to participate in cryptocurrencies trading and earn interest by paying a fee. Their application features a simple and modern interface that is great for newbies and intermediate users.
Features of Zeno
- This wallet provides a high-rank safety to your cryptocurrency.
Choosing a Crypto Wallet: What to Look For?
The first thing to keep in consideration while you are buying a crypto wallet is security. How secure is your Crypto wallet?
In addition to safety, you must also consider storage. There can be times when you should hold your investment for a long span of time. Thus, a good storage-spaced wallet is best for you.
You should also know which currencies you can store in the wallet. Storage should be taken into consideration since it is also essential if you are trading multiple cryptocurrencies.
You can keep your crypto safe in your wallet by various means. A two-factor authentication is a strong approach to keeping your wallet from hackers. Using this, you can feel safe with your crypto wallet. Why? Because even if someone has your password or finds out your password by any means, they cannot get into your wallet. While signing in, you will receive a code on your mobile phone or email. Your wallet will only give access after you enter the code.
If you are partnering, you do not own your wallet individually. If you don’t feel safe with your partners in such cases, you can use multiple signature support. Using this will secure your account because accessing the wallet will require multiple signatures or multiple keys. This will prevent transferring of funds by a single person.
It would help if you keep in mind that wallets should never be purchased second-hand or through third-party vendors because the device may have been tampered with before arrival.