- 1 Best Crypto Wallets – Best Bitcoin And Cryptocurrency Wallets In 2021
- 1.1 Best Crypto Wallets for 2021
- 1.2 Ledger Nano X
- 1.3 Trezor Model T
- 1.4 Ledger Nano S
- 1.5 Exodus
- 1.6 Electrum
- 1.7 Mycelium
- 1.8 What is a Crypto Wallet?
- 1.9 The Working of a Crypto Wallet
- 1.10 What is the cast of a Crypto Wallet?
- 1.11 How to select the best Crypto Wallet?
- 1.12 Conclusion
Best Crypto Wallets – Best Bitcoin And Cryptocurrency Wallets In 2021
Cryptocurrency and blockchain are very common and well-discussed terms for every investor. However, people mostly talk about Bitcoin or BTC whenever they talk about cryptocurrency. BTC was introduced in 2009, and it has become immensely popular over the time despite being volatile in nature.
One of the best things about BTC is that unlike many other cryptocurrencies, it has not only stayed in the market, but it has also boomed with time as one coin is now worth thousands of USD. Generally, when we talk about stock and shares, the market prices fluctuate very often. However, it is different with BTC because its price has just took-off especially in 2021, as it hit its all high. In fact, right now, every investor, either expert or amateur, is looking to invest in BTC.
The value of any currency or liquid asset depends on how safely it can be stored, and the same goes with BTC. Therefore, before you start your investment career in BTC, you must be aware of the necessary features of cryptos and the methods to store your BTC in your mobile wallet or online wallet.
So, if you are a beginner or even an experienced Bitcoin trader, there are some must-know features of Bitcoin desktop or software wallets that can be very helpful for you.
We have compiled a list of some of the best storage devices and crypto wallets in 2021 that will keep your investment safe and help you grow.
However, before jumping on the crypto wallets section, as an investor, you should know about cold and hot crypto wallets.
Hot wallets get things done pretty quickly, but they are relatively less secure.
Cold wallets keep your currencies safer for the long term.
Now, let’s get to the main stuff!
Best Crypto Wallets for 2021
Here are the most reliable and safest crypto wallets in 2021. The link is given below to download them.
Ledger Nano X
This crypto wallet has easily topped our list. It is a second-generation wallet from the French company Ledger that has been a famous name in the crypto industry for a few years now. Nano X is suitable and recommended for any type of cryptocurrency, and it is safe as houses. Nano X was launched after Nano S, the first hardware wallet from the same company that was used by the crypto investors for several years.
Unlike many other online wallets, Nano X is a hardware wallet that you can use by plugging it into your computer or similar devices. It looks like a USB, and it doesn’t require specific operating system requirements such as Linux, Windows, etc. Moreover, you can connect your mobile to Nano X via Bluetooth.
Nano X can support more than 1500 cryptocurrencies, and the list keeps on increasing every year on users’ demands or suggestions. As it is a cold storage wallet, to counter this issue, users can use the Ledger Live software; whose user interface will give you access to all your holdings.
With that user interface, you can add wallets for different currencies, and this software allows you to manage your portfolio. Hardware wallets are considered highly secure and are used by users very often. You can connect this device to your laptop or computer through the USB Type C cable. Moreover, its Bluetooth feature allows you to connect it with your tablet or mobile.
- Offers Bluetooth connectivity
- It can store up to 100 different apps at a time.
- Ledger Live has a user-friendly interface.
- The Bluetooth function is not that good.
- It can store only a few apps at a time
Trezor Model T
It is also a cold storage wallet (second generation) and is suitable for Bitcoin and many other currencies. It almost offers the same functions as Ledger, but there is one unique feature in this model; you can connect to third-party exchanges such as Shapeshift and Changelly by using this wallet. However, you have to pay a far higher price just to have this one extra feature.
It is more helpful for new users as they can utilize the touch screen in this model. Moreover, its MicroSD slot ensures maximum security because you can further encrypt the PIN. This model also allows connectivity to a laptop, computer, or smartphone through its USB Type C. You can access more than 1400 cryptocurrencies, but it is more secure because it doesn’t have a Bluetooth feature.
- Supports many cryptocurrencies
- High-Quality customer support
- Availability of unlimited wallets at a time
- Web-based interface
- Easy to access
- Price is very high as compared to other similar devices.
- First-time users may find it difficult to use
- Users may face difficulty in typing on a small touch screen.
Ledger Nano S
It is the first generation crypto wallet made by the French company; Ledger. Unlike its later versions, this model doesn’t have a USB Type C cable, so you cannot connect it to iOS or Android tablets or smartphones.
Nano S, just like Nano X, supports the same number of currencies, and users can have access to Ledger Live software. It doesn’t have Bluetooth and allows you to activate a limited number of wallets on your device simultaneously. Moreover, it just supports 18 different wallets at a time.
You can add another wallet with Nano S by removing it from your hardware wallet. However, your Bitcoin and data will be stored on the blockchain. Nano S is probably the best option for safely storing your currency safely at the best prices. You can easily use it with Ledger Live, and this wallet is highly recommended for you if you are a beginner.
- Great security at a very reasonable price
- High-quality community and customer service
- Doesn’t have Bluetooth.
- It can only store 18 wallets at a time
It is a very simple and user-friendly crypto wallet and is termed best for beginners. The user interface of the wallet is such that it facilitates the user in every aspect of trading. The reason for its popularity is that it allows the users to interchange between the currencies. The wallet app offered by Exodus offers a range of about a hundred cryptocurrencies, among which the users can choose to swap. The wallet also had a team that is available for the service, and it helps the users regarding any problem related to the crypto market.
It is simple to use, which is a plus point for beginners, but at the same time, it would be a negative point for advanced users. The advanced features are not present in the Exodus mobile app and the desktop programs, and it becomes a problem for the advanced users.
The Exodus is a closed source wallet that is in direct opposition to Bitcoin, which is open-source. The open-source wallets are usually a requirement of many advanced users as they are normally concerned about security. The users, on the other hand, when it comes to Exodus have to rely on the research team for the coding.
The wallet also offers the option of setting the fee as it would help in making the transactions trouble-free. Also, it would be a great help, especially if you are a beginner and need some help in learning the market.
- A huge variety of cryptocurrencies to swap.(Including the Bitcoin Cash and Dash)
- Standard set for exchanging.
- Customer care
- Highly secure due to closed coding
Electrum is an original crypto wallet; it started in the year 2011 and has not gone through many changes since then. The user-interface of the wallet is designed specifically for Bitcoin and is very easy to use. The wallet is best for advanced users because it has multiple options to offer. Also, it has open-source, which is the same as that of Bitcoin. It also allows the users to set custom fees. The wallet also enables the users to choose between Segwit and Bitcoin depending on the level of security that they want.
The level of security means that you can choose between multi-signature wallets, two-factor authentication, or may even elongate the seed phrase with the custom words.
The security pins and the passwords would help you keep your wallet secure from all the dangers. Also, it would make ensure the availability of the control which you want over your wallet.
- Ability to set custom transaction fees
- Highly secure
- Custom seed phrases
- Basic user-interface
- Hardly any customer support
- Works with the Bitcoin
Nowadays people prefer using phones as compared to computers. So, having a mobile-friendly application that has the functionality of the computer application is a blessing, and Mycelium is one such app. It is an application that specializes in mobile-only wallets and is largely appreciated by the users.
Mycelium only offers its services in Bitcoin and not in any other coin such as Ethereum or Litecoin. It also offers the users to trade without any hassle, as it has a built-in exchange to aid the users in swapping the currencies.
It is one of the pioneer wallets which are used for swapping currencies; also, it enables you to set a custom fee that could help you in doing transactions.
Some of the features which Mycelium offers are unique. It offers hardware wallet support to users, which means that the users can store the currency offline and see their holdings in Mycelium’s interface.
- Ability to set custom transaction fees
- Open-source software for better security
- Use the hardware wallets to store Bitcoin holdings
- Only available on mobile
- Works only with Bitcoin
What is a Crypto Wallet?
The crypto wallet is the same in functionality as your physical wallet. It helps you to organize and keep your Bitcoin, digital currency, and its related information. A crypto wallet helps you to store all the information and allow you to carry on transactions by using this currency.
All the information regarding your currency is kept secret as you would have to login through a private key or validate it through a sign-in form. The procedure allows one to carry on the transactions by using Bitcoin, also using the key makes the purchases highly secure.
The term of the crypto wallet and crypto exchange is often used variably, but mostly the exchanges are part of the wallets. The wallet is then the place where you can keep all the cryptocurrencies and store the money for use. You cannot withdraw any money from it in your bank account from the wallet; also, you cannot buy Bitcoins directly by using it.
The Working of a Crypto Wallet
Blockchain is a common public registry from where all the transactions of cryptocurrencies are initiated. The crypto exchange companies shift the amount from one wallet to another.
Whenever a cryptocurrency is transacted, every crypto wallet utilizes this hidden data to log in and verify the transaction. This logging into the account is an affirmation of the fact that either the seller or the buyer owns the wallet. This process ensures the security of the wallet with unlimited capacity to keep your cryptocurrencies. For further safety, some individuals replicate their personal keys and hidden data on some external source.
What is the cast of a Crypto Wallet?
Keeping Bitcoin in a wallet is often free. But in case you wish to transfer it somewhere else, the currency exchange owner or the server that is securing your wallet will charge you some money. These charges are dependent on the nature of your transaction.
Purchasing a wallet can cost you as much as $200. However, if you wish to synchronize your Bitcoin wallet with some exchange company, you’ll have to pay only a minimal amount as a fee. Or sometimes, only a small percentage of every Bitcoin transaction.
How to select the best Crypto Wallet?
All the crypto wallets listed above were scrutinized based on their costs, safety features, and reviews, and we prioritized the safety and security aspects of every wallet. To keep your money safe, you will ensure that you only opt for the wallet which is well-reputed, well-reviewed, and follows strict security measures.
Remember, a wallet with good exchange reserves in the backing will be your choice to avoid any delays in your transactions.
As your coins gather you the profits, a secure and safe crypto wallet will ensure your mental satisfaction. Wallets come with the options of online and offline storage. They also allow modifications according to your taste and mood.
For making sure that you select the best crypto wallet, you need to ensure your ease with its usage. Only select the one that offers you a variety of cryptocurrencies and keeps them secure. Even though a few wallets only allow Bitcoins, many others allow a swift exchange of cryptocurrencies of many types.
First, know your convenience and ease of using different wallets, then make a final decision.
It is a common myth that the investment market is a mystery. So many people assume that investing requires insider secrets and specialized knowledge. In truth, it doesn’t. The secret to investing is written in the numbers and we are happy to share the information that we have. Our team focuses on concrete data that is guaranteed to explain the ongoing state of the market. The cryptocurrency market shifts like any investment market, but it isn’t magic. We provide real data to support our beliefs surrounding market trends, and we do it for your benefit!
To your success!