After bitcoin, thousands of cryptocurrencies have been developed that make crypto space a huge industry. People can use digital currencies as a store of value and as a medium of exchange. Bitcoin is the most popular digital form of payment and the most valuable asset as compared to other digital currencies. An investor can purchase bitcoins from a cryptocurrency exchange and can store these tokens into digital wallets.
There are some top-notch bitcoin wallets that are popular across the world for storing digital currencies that we will discuss in this article. Also, you must learn the difference between a trading app and a bitcoin wallet as some people get confused about both. The Crypto Genius has highlighted some more information about these wallets.
Coinbase
Coinbase is a crypto exchange and not a particular digital wallet. Users can deposit and withdraw their cryptocurrency holdings from exchanges without requiring any access to private keys.
Coinbase allows users to hold, buy and sell cryptocurrencies. Easy transfer of funds can be done with Coinbase as it acts as both a digital wallet and a crypto exchange.
Buying and selling of stocks and other currencies are similar to buying and selling cryptocurrencies with Coinbase. It allows users to trade around 50 cryptocurrencies and get interested in some digital tokens. But Coinbase charges different fees from its users, which are quiet, and most of the time, users are not able to pay such high transaction and conversion fees.
Exodus
Exodus is another popular digital software wallet that can be installed on a desktop or tablet, and it is also available in the mobile app. It provides an ultimate user interface and excellent features that allow investors to easily use software and trade cryptocurrencies.
You can store and transfer your coins anytime through desktop software or a mobile wallet. This software wallet supports around 120 cryptocurrencies. This wallet provides high-security tools to investors to keep their private keys and digital tokens safe.
Robinhood
Robinhood isn’t a particularly crypto exchange or bitcoin wallet; instead, it is a security brokerage platform. New users that enter into the crypto space can join Robinhood to learn and gain exposure to cryptocurrencies. It doesn’t meet the strict rules of crypto exchange or digital wallet, but it works as both allow users to buy, sell and store cryptocurrencies. However, users aren’t allowed to transfer or withdraw their digital coins to another wallet.
This wallet has both mobile and desktop versions, and it is a free platform that doesn’t charge any commissions from users for buying and selling bitcoins and other cryptocurrencies. The investors face a huge risk of hacks and scams while investing their money in Robinhood.
Trezor
Trezor is a hardware wallet that provides ultimate security by storing digital coins and private keys offline. It is in the form of a hardware device that can be accessed by plugging it into a mobile device or desktop. This hardware device is quite costly, but it is a highly secure device that provides top security by offering the feature of multi-factor authentication. The Trezor supports around 1000 cryptocurrencies, and it offers an intuitive interface and other excellent features. Crypto holders must ensure that they never lose their hardware device or recovery information, including PIN, recovery seed, and password.
Mycelium
Mycelium is one of the best and most popular cryptocurrency wallets that are compatible with Android as well as iOS devices. This wallet is not designed for beginners that are completely new to the crypto space but is designed for experienced crypto users. Crypto users can use amazing features like offline storage, QR code payments, and controlling and accessing private keys. Mycelium allows users to send and receive bitcoins easily through mobile devices. This wallet can be easily installed.
Ledger
Ledger is considered one of the best hardware wallets that store bitcoins and other digital coins offline. The two most popular forms of Ledger wallet include Ledger Nano S and Ledger Nano X. Ledger, an offline device that users can connect to their desktop computer or mobile device and access their digital coins. This offline device is highly durable and most secure that supports around 1500 digital currencies. Users can easily send and receive cryptocurrencies and can check the updated balance of their wallets. This wallet is costly because it comes in a stainless-steel cover that makes it durable and offline.