Imagine you decided to hop on the last crypto boat and set sail from the seaport of the centralized payment system. Now you are facing an issue of picking up the best and most reliable crypto wallet. Looks challenging, huh? But don’t worry! We’re gonna come to the rescue and share some precious insights on how to get a crypto wallet for your assets. Let’s start!
Ask Yourself a Couple of Questions Before Putting Your Foot on the Land of Crypto
Before you flip through a wide range of all available wallets, ask yourself a couple of questions:
- Will I need quick access to my assets daily?
- Am I gonna store a single cryptocurrency, or I have multiple coins?
- Am I ready to spend some money on the cryptocurrency wallet?
- Am I placing a security atop of convenience and user-friendliness, or I’m more open to solutions with a friendly interface and easy setup?
With answers to these questions usually comes an in-depth understanding of what you expect to get from your cryptocurrency wallet.
Easy Access: the Easiest Is Often the Least Secure
If you need quick access to your funds from everywhere, consider using an online or web wallet. Just click the right URL and type in your credentials. Easy as pie, right? But keep in mind that as a user of an online wallet, you trade security for seamless access, which is quite a dubious choice, by the way. You give your keys to a third party and, therefore, lose 100% control over your funds in exchange for a promise to protect your assets. When it happens, you become especially vulnerable to hacking attacks.
Far more secure are mobile and desktop wallets. They are a sort of software that stores your private keys. It allows you to use the wallet on the go for in-person payments or purchases. Mobile wallets also keep your backup phrase, meaning you get full access to your money. The same story goes for a desktop wallet. You install software on your PC or laptop and can access the wallet only from the device that you installed software on. The desktop wallet isn’t as portable as mobile, let alone an online wallet, but it provides a higher level of security.
Single-Currency VS Multi-Currency
If you are planning to store only one cryptocurrency, your search narrows down to a single-currency wallet like bitcoin.com. But if you entertain an idea of keeping any other coins, consider using multi-currency wallets like Plarium.io.
Totally Free VS Paid Wallets
Usually, crypto wallets come free of charge. The only exception is a hardware wallet – a physical device that stores your private keys. It resembles a flash drive and costs, on average, $200. Yep, it’s not free, but it’s the safest.
Security or Friendly Interface. Is there a Golden Mid?
Finally, think about how much money you are going to keep in your wallet and decide how much protection you need for this amount. For significant investments, there’s no place safer than a hardware wallet. It’s not that readily accessible for things like daily payments, but it’s the securest option in the market. Hardware wallet isn’t connected to the Internet unless you need to make a transaction. There’s also a paper wallet, but keeping a printout of your private key isn’t convenient. It can get wet, or your dog might accidentally chew it up.
A little bit less secure yet much more user-friendly are desktop and mobile wallets. Easy setup and intuitive interface usually set them apart from other available options. In general, mobile wallets are considered a golden mid in this case. First, they are secure enough to entrust them with your assets. Second, you still have control over your private key and, therefore, your savings. Third, with a pretty friendly interface, these wallets are easy to set up and use. A perfect example of a mobile wallet is Plark. It’s a safe, non-custodial wallet that enables storing, buying, exchanging, and selling cryptocurrency instantly right in the app. You keep your private key in the wallet and, therefore, don’t transfer control over your finances to the third party. Plark is a multi-currency option with a friendly interface — a good fit for everyday use and long-term savings.
And the Final Touch Before a Huge Leap