Before getting into the game of purchasing, selling, using, or trading cryptocurrency, you need one basic thing. Even before starting to have your experience in this budding financial market, you need this a cryptocurrency wallet.
Well, if you are also finding the best Ethereum and Bitcoin wallets of 2019, you will find this post useful.
Down below, you have everything that you need to know about them:
Get to Know About Bitcoin Hardware Wallets
These wallets satisfy the needs of having a wallet, but you cannot store your physical bucks here, only Bitcoins. Not just Bitcoins, you can also keep Ethereums or other cryptocurrencies. These ranges of wallets do not connect you with the Internet. Instead, they are more like external USB drives or hard disks. According to your capability, you can buy one of them and store your initial cryptocurrency. You can try out the cold storage feature, which is great if you want a long-term storage option. You will also get to know later why it is a more secure option over its hot storage counterpart.
Getting into More Detailing About the Wallets
Bitcoin and cryptocurrency wallets define two types of financial wallets. Broadly categorizing, there are hot and cold storage options. Like said in the last point, they can be USBs, hard drives, cloud storage, mobile, or even paper wallets. These are for gearing up convenience because, in the end, you will be using the technology you like and find easy to use.
Then there are also other types of wallets, which are for storage of moving cryptocurrencies. Most of these wallets can store Bitcoins and other cryptocurrencies like Litecoins, Ethereum, or HEX, which is a popular altcoin. You can have your keys stored safely in these devices and utilize your cryptocurrencies when you need to.
Is There Anything Like the Best Cryptocurrency Wallet?
On a broader sense, every cold wallet out there has its own sets of features unless you get a paper wallet with zero investment. Talking about costs, the best wallets can cost you around 75 to 250 bucks. As the price gets up, you get more features and different shapes and sizes as well. Just like that, hot wallets, too have their features and securities.
Know About the Cold and Hot Storage Wallets
You have heard about both cold and hot storage wallets. The reason behind cold storage being so popular is that they are a more secure option. They do not keep the user connected to the Internet always. However, you can still check your cash without any issue.
Cold storage wallets do not stay online unlike hot wallets, which do that. Hot storage wallets have to exchange with online software, which is good but makes prone to cyber-attacks. Hot storage wallets are mainly good for doing daily transactions.
Here are some things, which you can store in these wallets:
- Your keys, including the supplementary ones
- The system UI to use the wallet
- Machine for backup data and all that
It is compatible with most of the operating systems. Talking about what you should go for, well, you should have one of both types. You can use both of them according to your needs. Buying one of the best cryptocurrency wallets can increase your level of security. Remember that a desktop wallet is at all a safe option to trust in.
You must have heard about Exodus, which is software consisting of hundreds of different cryptocurrencies. Talking about the same, you can use that software as a checking tool even without using its storage option. In that way, you will not have to compromise on your security. Whatever you buy, you can keep in your cold wallet. Think of that wallet as a savings account just as you have one in some bank. Try to keep the minimum in hot wallets if you want to stay safe than sorry.