As more people grow an interest in cryptocurrency, the search for the right crypto wallet intensifies. Several services and products can be of great value in this regard. The following crypto wallet solutions are all well-known in the industry and have built up a solid reputation over time.
The Necessity of Cryptocurrency Wallets
Obtaining cryptocurrencies such as Bitcoin, Ethereum, or others is only the first step along the journey. Storing these new digital assets in a safe, secure, and controllable manner is often a challenging task.
While many users tend to keep funds on exchanges, they never have complete control over their money. For every transfer or withdrawal, they make, they need to ask “permission” from the exchange itself.
To counter that problem, it is often advisable to transfer funds to a wallet to which the user owns the private keys. The following three services will all provide that functionality, although they have slight differences between them. Finding the one that suits one’s personal needs is essential in this space, as the experience has to be as frictionless as possible.
As a mobile-oriented cryptocurrency wallet solution, Coin.Space has built up a strong reputation since its inception. Over 20 million wallets have been created, resulting in over $120 billion in transaction volume.
Coin.Space has solid statistics for any service provider in the cryptocurrency world. Moreover, it provides trading services for supported currencies at the lowest fees in the industry.
The mobile wallet application is very intuitive to use for both novice and experienced cryptocurrency enthusiasts. Users benefit from a unified wallet address to manage all supported cryptocurrencies – including Bitcoin, Ethereum, and others, as well as client-side encryption and complete control over private keys.
Furthermore, Coin.Space enforced passphrase encryption for every wallet created – either through the app, desktop, or web version – to provide top-notch security to all users.
The majority of Bitcoin enthusiasts will know about Mycelium, a trusted Bitcoin and Ethereum wallet for Android users. It too is relatively user-friendly for novices and gets users accustomed to creating backups and best security practices.
While Mycelium is only available to mobile users, it is a great way to store Bitcoin and Ethereum / ERC20 funds conveniently. To date, Mycelium boasts over 1 million installs, confirming the popularity of this wallet solution.
As one of the more popular multi-currency wallets on the market, Exodus makes it easy to send, receive, and exchange cryptocurrencies. With support for desktop, mobile, and even hardware wallet integration, it is an excellent solution for advanced cryptocurrency users.
Currently, Exodus supports over 130 crypto assets, and provides 24/7 exchange options without registering an account. This latter option can be useful for those looking to diversify their portfolio further.
The three cryptocurrency wallets outlined above all have their benefits for specific users. Coin.Space is more suited toward both newcomers and experts in the industry.
Exodus is a good tool for those who have several cryptocurrencies in their portfolio or want to expand their diversification even further. Mycelium is an excellent tool for Bitcoin and Ethereum users, but the lack of support for other currencies might not make it the best option for newcomers. Giving users ample choices is a crucial step along the path to improving global crypto-asset adoption. All of these wallets focus on convenience without sacrificing security, making them perfect for nearly anyone’s needs.