If you are interested in buying the best cryptocurrency, it is critical you understand what wallets are, why you need one and which one to use.
That’s exactly what we will address in the following article.
What is a Cryptocurrency Wallet?
A cryptocurrency wallet is an application, usually a mobile one, that allows you to store and trade Bitcoin with other users in a marketplace.
Each wallet has its own identifying signature known as the “wallet ID.”
The wallet ID is a critical piece of the blockchain that identifies who owns a coin and who has previously owned it.
As a result, choosing a wallet isn’t something to be taken lightly, it’s a critical part of the blockchain process.
Some wallets have different features than others which is why the best of them will be discussed below.
Why Do You Need One?
In addition to storing private and public information in the form of encrypted keys, wallets are also required to store various forms of cryptocurrency.
Some wallets work with only certain kinds of cryptocurrency (ie – Bitcoin or Ethereum, etc).
But as more and more players enter the crypto-market more inclusive wallets are becoming the new normal.
Finding the best wallet for your currency means knowing the unique reasons why YOU need a wallet.
For instance, to hold multiple forms of cryptocurrency or to be conveniently tied to a certain exchange.
Here are our favorite wallets of 2019 and beyond.
Best Cryptocurrency Wallets of 2019
Here’s our list of the best hardware wallets for your coins:
Each of the following provides an intuitive, extremely secure place for users to store their digital money at different price points:
Low Cost Hardware Wallets
Premium Hardware Wallets
Cold Storage Wallet
Best Hot Wallets of 2019
The Bread Wallet is a mobile wallet that makes trading coins easy for those who intend to buy and sell.
Bread Wallet puts control into the user’s hands using serverless technology. It’s available on Google Play and Apple App Store.
Mycelium is a highly desirable wallet for Bitcoin.
It allows users to buy and sell Bitcoin, provided they operate on iPhone or Android.
Mycelium offers privacy with advanced security features that Bitcoin users can get behind.
Exodus is a wallet available for desktop users. In addition to not being limited to a specific mobile platform, Exodus offers coin flexibility.
- Dogecoin; and
Making it a newcomer to the wallet scene to keep an eye on, especially if you are a collector of a wide assortment of coin investments.
Exodus users benefit from privacy and security on the user-friendly platform.
What Wallet Do You Use?
Let us know in the comments!
For more information on these wallets and where to buy cryptocurrency, visit our homepage to keep learning more about the crypto world.
**This post was updated on 12/28/2019**