If you’re starting your journey with crypto, you need a crypto wallet. It gives you a secure and convenient way to store your hard-earned currencies. Until recently, choosing a wallet was a struggle. With a myriad of options, most people were left frustrated. Fortunately, that is no longer the case because a few years back, a couple of crypto hot wallets emerged and dominated the market.
MetaMask
MetaMask is an Ethereum-based browser that allows you to run smart contracts in Ethereum-based networks. MetaMask is a Google Chrome extension (think Firefox add-on) that you can download and add to your Chrome browser. MetaMask, by default, has very limited functionality. In order to earn and use Ether/Ethereum, you will need to download a wallet. This wallet is commonly called MyEtherWallet (MEW).
Electrum
Electrum is a cryptocurrency that was created in 2013. Unlike other cryptocurrencies that use blockchain technology, Electrum uses a more traditional but secure approach to creating a peer-to-peer network. Importantly, Electrum doesn’t rely on “mining” for coins; instead, users have the ability to customize their own mining settings, so the amount of power it uses can be limited according to the user’s personal preferences.
Coinbase Wallet
Coinbase is a great online wallet for cryptocurrency, but anyone can use it, which is what makes it so great. Coinbase is a financial tech company that provides digital wallets, an exchange, and an app. The company is based in San Francisco, California, and was founded in 2012. Today, the company serves over 40 million users in the United States alone. It holds a virtual monopoly on virtual currencies in the United States.
Trust Wallet
Trust Wallet is an app that lets you top up any of your credit cards or debit cards instantly from your bank account. You can top up as much as you want because Trust Wallet instantly converts your local currency into Bitcoin and credits any card. Know anyone who needs extra cash for a vacation, car repair, or emergencies? Have them download Trust Wallet. In turn, you get points for every top-up, which can be redeemed as Bitcoin. Bitcoin is as anonymous as cash, and you can instantly buy what you want anywhere.
Robinhood
Robinhood is an online stock trading app that lets you buy stocks without paying commissions. The app can be downloaded to your Apple or Android device, and you’ll get access to well over 500 stocks; with trades starting at just $1, you’ll be able to pick and choose which stocks are right for your needs. The app is easy to use, but there are a few things to know before you open an account.
Binance Chain Wallet
Binance Chain (BNB) is Binance’s native blockchain project. For the uninitiated, Binance is a cryptocurrency exchange that has a reputation for being one of the fastest and most reliable. But for many people, especially those who are not yet crypto enthusiasts, Binance Chain may be a bit of a mystery.
Blockchain Wallet
A blockchain wallet allows you to store, send and receive cryptocurrencies such as Bitcoin and Ethereum. Ethereum is a peer-to-peer decentralized application platform that enables developers to create and deploy smart contracts. Smart contracts are self-executing contracts, where the terms of the contract are coded into the code itself; when the terms of the contract are met, the code triggers the contractual action. Ethereum allows users to build decentralized applications on blockchain technology.
Crypto wallets are wallets used to store cryptocurrency. So which one you choose should depend on what you want to store, where you want to store the coins, and how easy it is for you to keep track of those coins.
