If you are thinking of investing in cryptocurrency. So, to conduct secure transactions with cryptocurrency, you must have a crypto wallet. Now, if you are confused about which crypto wallet is best for you, then you are at the right place. Buying a cryptocurrency is not just enough; you must also keep your cryptocurrency safe. Many crypto wallets are available on the market, and you must select the right one. Cryptocurrencies are important assets to keep them safe and avoid any financial risk of losing the cryptos.
Today we are going to see the best crypto wallets that are available on the market and which one is best for you. We have considered some factors before selecting the crypto wallets for you. These factors will be the basis for deciding the best one out of the many wallets available in the crypto market. This is the main deciding factor for selecting crypto wallets
- Security: This is a significant factor to consider before investing in cryptocurrencies. All cryptocurrencies can be hacked if the cryptocurrency wallet is not secure. So security is a must before choosing a crypto wallet.
- Cost: Another important factor is how the crypto wallet charges much commission because so many wallets are available in the market. They offer different commission rates for the transaction, so we have also to consider this point.
- User experience: Crypto wallets are new to the users, and the user experience and the overall feedback must be satisfactory. When using that platform, a wallet user should not be confused by the wallet’s interface.
- Customer support: What if you face some issues with the wallets? In these situations, the customer support team plays an essential role in resolving the customer’s problems. In the end, cryptocurrencies are financial assets, and you don’t want to take any risk with your cryptos. So make sure the wallet provider also has good customer support.
There are mainly three types of crypto wallets available on the market. Today we will look at all these three categories so that you can decide which wallet is perfect for you to invest in 2022. All these options are available to you on platforms such as applications, desktops, and hardware. All these categories are as per your requirements and needs:
- App Wallets: These are the crypto applications that contain your wallets. You have the credentials for making the transaction in your wallet. Crypto transactions and all interfaces will be the same as an App.
- Desktop wallet: In this type of wallet, access can be done through any desktop for the cryptographic transaction. Desktop wallets are perfect for people who want to access their wallets from their desktop or computer.
- Hardware wallet: These wallets don’t have the details in your app or any desktop or mobile device. They are generally stored in the USB port, and wallet details can be accessed only by this USB drive, so with this, we can save our wallets physically.
Let’s have a look at each type of category of the wallet in detail so that you can decide which wallet is perfect for you as per your requirements:
App wallets
Trust wallet
This is one of the first apps that provide multi-blockchain support for the trust wallet app, so with the help of just a single app interface, we can access multiple blockchains. In this app, you can also buy NFTs, and it has an exchange in it. There are more than 10 million users who have downloaded this application.
You can exchange different cryptocurrencies within the wallets using this wallet. If you want crypto, you can directly buy it with your debit or credit card. The most important thing about this app is that you can exchange crypto now without any third-party exchange.
This wallet takes security matters seriously because the company cannot see your data. You have your passwords in the app, so it is highly secured. You can also access the different types of dApp within the app and directly browse the dApp. There are 100s of Dapps available on this wallet app.
To get started with this app, you just have to download the app, create a wallet with your details, and then you are ready to get the cryptocurrency. This app is available on Apple as well as Android.
Best for which type of users.
This is perfect for users who want a very simple user interface in their app system.
Advantages
- Exchange the currencies within the app.
- Highly secure
- It’s easy to buy and sell cryptocurrencies.
Disadvantage
It is difficult to recover the account through the support system.
Coinsbase
Coinbase is also one of the best options when considering app-based wallets. You can keep multiple cryptos as well as NFTs in your wallet. This is an app that Coinbase has created with the intention that users should have their separate private keys to protect the crypto.
The interface is straightforward to use to buy and sell the cryptos with the different dApps available in this wallet. It also has the Chrome extension feature. With this, you can use the desktop version of the app-based wallet. Multiple blockchains are available in this wallet, and you can exchange the cryptos within the app.
If we talk about the user interface, the user interface is straightforward. If you are a beginner, you can easily use this without facing any problems with the user interface. These platforms also got good user feedback on security, so you don’t need to worry about the safety of your cryptocurrencies.
Best for which type of users
It is best for beginners who want a straightforward interface.
Advantage
- Access to the Dapp
- It charges only network fees.
Disadvantages
Bad customer support reviews
Desktop wallets
Exodus
Exodus is one of the most popular desktop wallets available on the market. This wallet is also available on mobile so you can use this on mobile as well. If you are a beginner just starting in cryptocurrency and want to invest, this is the perfect option because of its simple user interface and built-in exchange.
The one feature that makes it popular is that it can swap between the growing number of cryptocurrencies, up to 150. If you want to use the Exodus wallet, just go to the Exodus website and download the wallet on your desktop or mobile and start investing in cryptocurrencies.
Best for which type of users
This wallet is highly recommended for beginners who are just starting and looking for a simple user interface
Advantage
- Clean and beautiful interfaces
- 24-hour customer service
- Build in Exchange
Disadvantage
It is not suitable for advanced users.
MetaMask
MetaMask is another excellent desktop wallet on our list. This wallet also offers you the facility of a wallet in the mobile app. MetaMask has been performing well in the market for the last few years. The one thing that is great about MetaMask is its superior security features. MetaMask allows you to add multiple blockchains to a single wallet. It is an essential factor when choosing a wallet because there are various blockchains in the market
MetaMask gives you the token exchange, a token wallet, and secure login to your wallet. MetaMask creates the login credentials with you so only you can access the data, and no one else can see your private data. It is trusted by more than 30 million users and also has good reviews from users, so this is also one option on our list in the desktop wallet.
Best for which type of users.
It is best for the user who wants to use the Desktop and also wants to use the Mobile App and is very particular about the security of their wallets.
Advantage
- Highly secure
- Token wallet and Token exchange
- Multi-blockchains can be added to the wallet.
Disadvantage
Information can be accessed/collected from the used browser.
Hardware wallet
Ledger
A hardware wallet that is ideal for storing cryptocurrencies. Access almost all available cryptocurrencies. All your cryptocurrency details are stored in this physical hardware wallet. It is more secure than desktop and app-based wallets because it is not connected to the internet, reducing the chances of getting hacked.
So, if you are the person who wants to save their cryptographic details in the physical model, in this case, you just have to attach the physical hardware to the computer, enter the PIN, and then you can access the crypto.
Best for which type of users.
It’s best for the user who buys cryptos in heavy quantities for the long term, since now, with cheap hardware devices, they can add another security feature.
Advantage
- secured details at a low price.
- Good customer support
Disadvantage
No wireless connectivity.
Trezor
In the list of hardware wallets, this is another considerable wallet that is available with a large customer base with good reviews by the users. You can get this from their website for around $195, which is costly compared to the Ledger wallet.
It is also secured with private keys and the PIN code. So the hacker will not be able to hack your wallets as this requires access to two-way authentication. Overall, it is a good option for people looking for the perfect crypto hardware wallet.
Best for which type of users.
This is best for the user who wants prime security with high reliability.
Advantage
- Lots of cryptocurrencies are in the wallet.
- Good customer support
Disadvantage
Higher price
Disclaimer
If you are thinking of investing in cryptocurrencies, please take financial advice from a financial advisor or invest after proper research because the market is very volatile, and your money can be at risk. Please keep this factor in mind at the time of investing in cryptocurrency. If you are investing without proper knowledge, you may face financial trouble.
Conclusion
If you are just a beginner and starting, go for the free wallet app, which will be easy for you to use, and if you are a high-quantity investor, you can consider the hardware wallet. The selection of the wallet entirely depends upon the factor at which level you are. If you are a beginner, intermediate, or a long-term heavy investor, You can also consider the price of the wallet they are charging for using the wallet.
As per our recommendation, you can choose the Ledger wallet in the hardware wallet. If you are looking for free wallets, Metamask may be one option for you to consider for crypto wallets. Let us know your thoughts on these crypto wallets.
Frequently asked questions (FAQs)
Do I need a wallet for crypto?
If you are thinking of investing in cryptocurrency, then it is essential to have crypto wallets. These crypto wallets will store your cryptocurrency safely. Especially the hardware wallet is critical if you are investing a considerable amount in cryptocurrency.
What are the three types of crypto wallets?
As we have already discussed in the article, there are three types of wallets: Application wallets, desktop wallets, and hardware wallets. This is made as per the users’ different needs and requirements.
Where should I store my crypto?
For storing cryptocurrencies, you should consider hardware wallets. These are the safest wallets that can hold your cryptos safely even in the long term. Also known as “cold wallets.”
Which crypto wallet is best for free?
Metamask is the wallet that you can consider. The best free wallet is Metamask. This platform offers services for free to store your cryptocurrencies. The Ethereum blockchain technology hosts this. If you’re looking for a free wallet platform, this is it.