We usually underestimate the value of this magical object in our lives, the wallet! A loaded one brings in all the joy and possibilities into the focus whereas the scanty sense of it unfolds the worst nightmares. When the traditional wallet has so much impact and importance in our lives, so will one for cryptocurrencies. When there is money, wallets are synonymous with it. In the plethora of such wallets being available, which one fits the perfect bill?
Apart from understanding how investments on cryptocurrencies can be made, fair learning of the ways to store and transact such wealth is also inevitable. Based on various functionalities and areas of importance, there is a multitude of wallets that exist. Some of the most renowned and trusted wallets are enlisted below:
One of the most trusted and recommended wallets for selling, buying and storing cryptocurrencies. It can be directly connected to a bank account and easily enable the flow of dollars to and fro from the account. The wallet comes with an extremely easy interface which is a boon to this fairly new method of transaction.
Trezor is a device that is connected to a PC, tablet or phone to store and access coins. It has multiple currencies in-store and acts as a password manager. The wallet provides full protection from lost passwords and lost devices. The wallet is known for its super security.
Electrum is software-based. This means that Bitcoin is stored in a set of encrypted files on the laptop or desktop computer. While accessing the coins is on the go, in case of loss or damage to the devices, there is no provision for retracting or recovery. One is subjected to losing their coins.
Blockchain is the technology that empowers Bitcoin and other technologies to exist. One can buy and sell directly using this technology. It also enables the buying and selling of currencies for a small fee. It has three key security features to ensure a cent percent security.
Robinhood is a free stock trading platform and includes options for investments and support for options. Robinhood is both like a wallet and an exchange. Wallet because it can store the coins and exchange because it facilitates the transaction of the coins.
Mycelium is a mobile-only wallet. This particular wallet is more complicated to use than the other ones. It boasts of “bank-grade security” along with anonymity for the desired bitcoin transaction.