The investment world has changed a lot with the arrival of cryptocurrencies. Now you can not only allocate your money to classic stock investments, you can also buy digital currencies that, if you prefer, you can mine yourself from home with the right equipment.
But you must keep in mind that all the cryptocurrencies purchased or mined must be stored in the same place and that is why we show you which are the best wallets to store cryptocurrencies.
What is a Wallet and what is it for
This term may sound distant if you do not know its English translation, but knowing what it is used for you can get an idea of what it is.
The truth is that it is something very obvious, since wallet means “wallet” or “purse”.
The same thing happens on the internet with cryptocurrencies, you need a place to store the ones you have bought or mined to put them on the market.
If we get technical, we are talking about software that allows you to access the blockchain network to make these transactions with virtual money.
However, some have different functions, but what you should know is that what you buy is not the currency itself, but the access key to that cryptocurrency.
You should know that not all wallets to store your cryptocurrencies are the same. There are two types of wallets:
Cold Wallets, which are usually hardware that is not directly connected to the Internet.
And Hot Wallets, which are connected to the Internet as they are software.
Within each one there are variants such as paper wallets, which is essentially a piece of paper where your private security keys are written down to access your cryptocurrencies, those that are installed in your cell phone or even those that are part of your computer like any other program.
Of course there are also exchanges, which allow us to exchange cryptocurrencies and tokens but are less secure.
The reason is that the access keys you use are not entirely private and in case of a hack or theft, you can lose everything.
The best wallets to store cryptocurrencies
Let’s take a look at some of the best cryptocurrency wallets you can choose from.
Coinbase
This is one of the best known services in the world and it is thanks to the fact that it is one of the most secure.
It also has a mobile app with which you can operate, which makes it very simple and accessible wherever you are.
Its only weak point is that it does not support many cryptocurrencies, so you will probably have to combine it with another wallet.
Electrum
This wallet to store your cryptocurrencies is also well known and stands out for its shielding.
It has a two-step identity verification system, which ensures that only you have access to the content.
It also stands out for its compatibility with numerous operating systems and its lightness, since it does not download the entire blockchain and also supports complete wallets.
TrustWallet
Another of the most interesting options is TrustWallet. It is also one of the most widely used and was originally created for Lite cryptocurrencies, but nowadays it supports many different formats of these.
What makes it so special is that the interest varies between 5 and 7 percent depending on the e-currency because it puts the stacking system to work.
Ledger
This is one of the most widely used hardware wallets. It stores users’ private keys in a secure and protected hardware device.
Its main purpose is to separate your computer or smartphone from the private keys you use to protect your cryptos.
It also allows you to do all kinds of actions such as selling, buying or exchanging your cryptocurrencies safely. Mind you, it has a total of 1,500 tokens and 27 cryptocurrencies to store.