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How To Pick Safe And The Best Crypto Wallet In 2021?

Jul 19,2021 - (Free)

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Many incidents happened in the recent past where investors have lost their crypto money because they did not secure it wisely with any of the best crypto wallet available in the market; as you may know, the cryptocurrencies are a decentralized and public ledger without any central banking authority of any country or Govt. So, you have to be extremely alert when you are selecting a wallet to store your digital currency.

Cryptocurrencies are the buzz in the market right now. Even though the virtual currency can be highly volatile at times, people are more and more interested in purchasing them every moment, and many big companies have started to accept them as a mode of payment. The best interesting point of interest in digital currency is, they’re protected by cryptography and practically impossible to double-spend or counterfeit.

best-crypto-wallet-2021Bitcoin (BTC) is the most popular currency in this virtual investment area, but several other options might appeal to you if you’re interested in investing in the digital currency world. However, before you join the bandwagon and get started on your cryptocurrency journey, you need to learn how to store your digital money safely using a crypto currency wallet.

Best Bitcoin-Crypto Wallet To Consider in 2022

You must have a safe and trustworthy crypto wallet if you’re going to start investing in cryptocurrency. Picking the right one is easy if you compare the most popular digital wallets and stick to what suits your needs best. The information in this article may help you better understand the features available with the best crypto wallets in 2021.

1. Electrum: The Best Bitcoin Wallet

Electrum is explicitly made for Bitcoin users. It has many advanced features for those who have been in the game for a while. This wallet is open-source, and you can customize your transaction fees and determine your preferred security level. Electrum allows you to:

2. Exodus: The Best Crypto Wallet for Beginners

This wallet is great for getting acquainted with cryptocurrency transactions and exchanges. It has a clean and straightforward interface and allows you to swap between over 100 cryptocurrencies with ease.

Exodus offers customer support so that beginners can get some backup while they become more confident with their transactions. It leaves little to no room for confusion, but advanced users can get a bit frustrated by its simplicity.

With Exodus, you can set your own fees and complete transactions quickly. The Exodus crypto wallet, however, is closed-source, which might raise some eyebrows when it comes to security concerns.

3. Ledger Nano S: The Best Hardware Wallet

The Nano S is one of the first hardware wallets ever made. Introduced by Ledger in 2016, this crypto wallet is compatible with over 1,100 cryptocurrencies. Being an older alternative, the Nano S does have some technological setbacks. For example, it does not come with a USB Type-C cable, making it more challenging for some smartphone users to connect it to their devices.

Ledger’s Nano S costs only $59, which is a steal for those who only want to store up to three cryptocurrency apps. It gives you access to Ledger Live, where you can manage your cryptocurrencies with ease.

4. Mycelium: The Best Crypto Wallet for Mobile Users

This crypto wallet has been around for a while now. It’s open-source and is exclusive to mobile devices. Mycelium supports the most common cryptocurrencies, including:

  • Bitcoin (BTC)
  • FIO token
  • ERC-20 tokens
  • Ethereum (ETH)

The interface allows you to set custom fees for your transactions and select the amount of time you want to wait for them to be completed [2]. Mycelium offers hardware wallet support so that you can store your cryptocurrency offline.

5. Trezor Model T: The Best Crypto Wallet To Store Several Cryptocurrencies

This second-generation hardware wallet is the best for cold wallet storage. It allows you to access third-party exchanges through the Trezor website. Equipped with a touch screen, this wallet is user-friendly and ideal for beginners. It supports over 100 cryptocurrencies.

The Model T also comes with:

  • USB Type-C cable
  • Micro SD card slot

6. Wasabi Wallet: Open-Source and non custodial Bitcon Wallet

The Wasabi cryptocurrency walletwhich is an open-source, non-custodial Bitcoin wallet which implements trustless CoinJoin over the Tor anonymous network to help you mix your coins. First, it is important to note that Wasabi is a 100% open-source software which means you do not have to place any “blind trust” in the developers. Anything fishy cannot remain hidden for too long.

CoinJoin is an anonymization strategy that protects the privacy of Bitcoin users when they conduct transactions with each other. Coinjoin requires multiple parties to jointly sign on an agreement to mix their coins when engaging in separate Bitcoin transactions.

This makes it harder for outside parties to determine who was making a particular transaction. Wasabi is just a wallet which makes it easy to CoinJoin your crypto. It mixes coins on all wallets users between each other and does it using the multisignature script to completely eliminate the trust on the other party, which in this case is CoinJoin.

7. Edge: You have the control over your digital funds

Edge is a powerful and easy to use cryptocurrency wallet that allows users to easily control their own private keys with the familiarity and ease of mobile banking. You have full  control of your funds with Edge Wallet, because only you have access to your funds or transaction data. 

Edge uses a special feature of client-side encryption to encrypt all the private data to keep it safe. Edge has ShapeShift integration so that the user can instantly convert between coins and tokens from this. It supports both Android and iOS mobile devices. Edge also provides a built-in cryptocurrency exchange.

FAQ To Consider While Selecting the Best Crypto Wallet for Your Digital Assets

What Is A Crypto Wallet?

A crypto wallet is a digital place to store safely your private keys to access your cryptocurrencies. A crypto wallet gives you peace of mind every time you access, use, or exchange your digital currency. You don’t have to worry that a third party will manipulate your transactions or steal your stored virtual money in any way without your knowledge.


How Does Crypto Wallet Work?

You can store as much cryptocurrency as you’d like in a crypto wallet. They use a database technology called blockchain to conduct your cryptocurrency transactions. In a nutshell, blockchain is a digital ledger that stores and records all sorts of data. When you move your  cryptocurrencies from one crypto wallet to another one, each wallet uses its own secret data to validate the transaction and sign it. This action proves that the parties involved actually own the wallet.


What is Hot and Cold Wallet?

Hot wallets are connected to the internet and allow a faster way to manage all sorts of transactions. Cold wallets, on the other hand, are not available online, which makes them more secure for long-term storage but somewhat slower for transactions.


How Much A Crypto Wallet Costs?

Using a crypto wallet to store your cryptocurrency is typically free of charge, but purchasing a wallet can cost you up to $200. Using the crypto wallet’s features to complete transactions or exchange devices will also result in additional fees.


Which Is The Best Crypto Wallet in 2021?

There are many options to select from when it comes to find the best cryptocurrency wallet, all with different features and characteristics. For sure, it can be a bit difficult to choose the right one, but all you need to do is compare and contrast the most popular options to find the one that suits your needs. Here are some of the best crypto wallet options in 2021.

Electrum Hot wallet with cold storage options Free Trezor, Ledger, and others No
Exodus Hot wallet Free Trezor Yes
Ledger Nano S Cold wallet $59 n/a Yes
Mycelium Hot wallet with cold alternatives Free Trezor, Ledger, and KeepKey Yes
Trezor Model T Cold wallet $181 n/a Yes
Wasabi Wallet Hot wallet  $2 per BTC transaction Any  Yes
Edge Hot Wallet Free n/a Yes


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If you pick the wrong wallet for your cryptocurrencies, you may end up with any potential disaster by losing your digital assets. It will be better to take some time to understand and learn about different Cryptocurrency wallets to protect yourself from scams and fraud that are taking place nowadays.


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