Over the past two years of the pandemic, many people invested in cryptocurrency seeking shelter against inflation in the traditional economy. But digital currency in the form of coins and tokens as assets is meant to be stored somewhere. To store and secure their digital assets, investors use crypto wallets. Hot wallets are the best for online storage and cold wallets for offline storage through hardware and external devices. Here are a few facts about five most healthy crypto wallets that survived the pandemic.
Coinbase is a user-friendly wallet and is best for beginners as it has a high-security track record. It supports more than 500 cryptocurrency assets. Its best features include easy access to the owner’s brokerage bank account. Therefore, you can easily connect the U.S. bank account and exchange dollars from Coinbase investing and trading accounts. It is basically a hot wallet and one of the best-known cryptocurrency exchange wallets.
Mycelium shows offline transactions with no transaction fees. It is a free app made for users who are not familiar with Bitcoin and users who seek features like offline storage, QR code-based payments, and ownership of privacy. It is a mobile-only software which means that it is best for Android and iOS users who make transactions with their mobile devices. Mycelium is a cold wallet but can act as a hot wallet.
Ledger is an extremely secure offline cold crypto wallet supporting many currencies. There are two types of Ledger wallets, Ledger Nano X and Ledger Nano S. It is a hardware wallet made of durable steel which connects to the mobile or computer just like a USB flash drive. It also has a mobile app version which includes Bluetooth as well.
Exodus is mainly a desktop-only cold wallet supporting 145 plus crypto assets but now has apps for iOS and Android users. It is integrated with another hardware wallet brand known as Trezor. It is feasible for people to operate because it is easy to use, has high transaction speed, and has 24/7 customer support. It also provides a private key to access your bitcoins stored on your computer, which makes it a successfully ensured secure wallet.
Electrum is one of the oldest crypto hot wallets best for Bitcoin trading which is still being effectively used today. Bitcoin transactions are in the form of blockchain, and its Multisig feature shows that it can be spent between numerous wallets such as Keepkey, Trezor, and Ledger. Its two-factor authentication makes it a fast and more secure wallet than the others with customizable transaction fees. More payment of fee means faster transactions. Its simple payment verification (SPV) feature also makes the transactions faster.
During COVID-19 pandemics the above-mentioned crypto wallets have been very popular, but many more great crypto wallets are available. Out of them, Crypterium, is not just a wallet but the ecosystem offering unlimited features, loans, plastic and virtual cards, AI price predictions and even a native utility token. For sophisticated investors, such f wallets are the best choice in the recovering post COVID economy.