How To Keep Your Cryptocurrency Safe: 7 Must Have Wallets

How To Keep Your Cryptocurrency Safe: 7 Must Have Wallets

05/1/17 8:25 AM 2018-10-15 12:23:02
References are made wherever possible. All statements are based on the author’s experiences. I take pride in informing the public and helping as many as I can through sharing my experiences with my re

References are made wherever possible. All statements are based on the author’s experiences. I take pride in informing the public and helping as many as I can through sharing my experiences with my readers. That said, no one except you can take responsibility for your investment decisions, so do think it through before investing. If you are looking for more detail on how cryptocurrencies actually work, take our course on it.

 

How To Keep Your Cryptocurrency Safe: 7 Must Have Wallets

With the current merciless run of the bull market, it is only a matter of time before your crypto holdings surge in value. When it does, like it or not, crypto will unavoidably receive much-unsolicited interest from hackers. To not repeat the tragic Mt. Gox incident, holders are removing cryptocurrency from the exchange and decentralizing their storage.

The question of why you should purchase a wallet becomes the more pertinent question of which wallet should a cryptocurrency investor use. As do all forms of insurance, security comes at the cost of money and convenience. How should we balance it in a way that suits our risk profile?

In this post, I will summarize the unique features of the top 7 cryptocurrency wallets that an experienced holder must know of.

Desired traits of a Cryptocurrency Wallet

What are the desired traits of a crypto wallet and how hard can choose a wallet to be? This seemingly easy answer, unfortunately, does not have a satisfying answer: convenience may come at the cost of security; additional features may come at the cost of a steeper learning curve. More importantly, what are the traits that, ultimately, you value over the others? See the list below, not in order of importance:

  1. Cost. Is it free? What are the drawbacks of using this wallet?
  2. Security. Does the company have a track record of security excellence?
  3. Mobility. Is it easy to keep and difficult to lose? Is it accessible anytime, anywhere?
  4. User-friendliness. Is the wallet UI intuitively designed? Can I store a range of altcoins?
  5. Convenience. Am I able to make a fast purchase when the time calls for it?
  6. Style. Do I have a weakness for cool tech gadgets?

You may want a wallet that offers the best combination of the above-mentioned traits. Remember, all wallets have their edges and shortcomings.

7 Must Have Wallets: How To Keep Your Cryptocurrency Safe

 

Atomic Wallet 

BGMEM v1

is a new multi-asset, non-custodial solution with an actively growing user base. Atomic Wallet already supports 300+ top coins and tokens that can be managed in the intuitive, user-friendly interface. The list of available assets is updated on a weekly basis, so if you didn’t find your favourite coin here — you can be sure it will be added soon.
Atomic Wallet is available for all major OS: Windows, Mac and Linux. Mobile apps for Android and IOS will be released in October, 2018.

Apart from the intuitive UI, Atomic Wallet has offers a wide range of features, such as decentralized storage for private keys, a built-in option to buy crypto with a bank card, Atomic Swaps, instant exchange via Changelly or Shapeshift and an interface for custom tokens. What makes Atomic Wallet so unique is the support of Atomic Swaps, a relatively new decentralized exchange technology based on hash timelock contracts. Currently, this feature is available for Bitcoin, Litecoin and QTUM. In the nearest future, Atomic Wallet plans to make Ethereum available for the swaps, as well.

KeepKey – Hardware Wallet

The coolest looking tech gadget to show off to your friends. Made by a relatively new company, KeepKey offers a hardware wallet of a polished design. KeepKey is said to be a port of Trezor’s code and firmware, so their main difference is the material. KeepKey feels like a ‘premium’ wallet but might be a little on the heavy side and hence more susceptible to drops. It comes with a standard, simple to use client UI.

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Nano Ledger S – Hardware Wallet

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