Are you new to cryptocurrency transactions? Perhaps you are not sure of where to store your keys. Well, you can hardly be successful in the cryptocurrency world without having a reliable cryptocurrency wallet. Understandably, not everyone knows what these wallets are.
But well, let us start from the basics. These cryptocurrency wallets will always be essential in storing both public and private keys. They also come in handy in interacting with different blockchains so that clients can send and receive digital currency. Besides, it will be much easier to keep track of your cryptocurrency balance.
Types of cryptocurrency wallets
Naturally, these wallets feature different ways of storing, monitoring, and accessing your digital currency. For this reason, you will be sure of getting a variety of them. We take a look at the five most dominant wallets you will find.
Paper wallets are quite common these days. Besides being relatively straightforward to use, they will assure you of high-level security. When talking of paper wallets, it could refer to a physical copy of your private and public keys or that software that generates your pairs of keys.
You could also go for mobile wallets. Often, these wallets run as apps on your smartphone. They are not only functional but also relatively convenient. You will use them wherever you are, including retail stores.
Further, we have desktop wallets that can be installed on your PC or laptop. Usually, they tend to feature more space than mobile wallets. But besides that, they will assure you of the highest level of security. While at it, you can only access them on a single computer.
We also have online wallets that you can access from any computing device, regardless of your location. Despite being relatively more convenient, they are mostly controlled by third parties. As such, they could be vulnerable to attacks.
Lastly, we have a hardware wallet. Despite making transactions online, they will often be stored offline. This way, you will be sure of getting enough security at all times.
I bet you have heard of the most stable coin released by Maker, DAI. Well, perhaps you are asking yourself what DAI wallet is ideal for you. The following wallets are the most reliable for your DAI or any other cryptocurrency that you have.
Trezor: This wallet prides itself on the ability to store over 500 coins. It comes with enhanced security, with the two-factor authentification device being predominant. Besides being easy to set up, you will be sure of enhanced convenience.
Ledger Nano S: It is a hardware wallet that allows users to make multiple transactions in a single click. Besides, it guarantees you of convenience as you manage your assets.
Coinbase: This cryptocurrency wallet will come in handy in holding multiple currencies. It supports Ethereum, Bitcoin, and Litecoin. Further, you will find it relatively more comfortable to use.
Having the right cryptocurrency will often be essential in improving the efficiency of your transactions. Usually, you will want to focus on the security and reliability that they offer. Explore the different options to confirm which one would meet your preferences.