6 Best Crypto Wallets of July 2022 – Hot and Cold Options
Digital assets look like they are here to stay. We see that El Salvador has purchased at $51 million worth of bitcoin at the present moment. Firms like Tesla, Square or Block, Microstrategy, and others have also purchased bitcoin to add to their respective balance sheets.
This is why more people are looking at adding cryptocurrencies to their respective portfolios. If you are interested in looking at digital assets, then you should certainly remember that there are risks involved with investing in cryptocurrencies. At the same time, if you are willing to do your research and due diligence, there are opportunities that you can seize.
While the past may not be indicative of the future, if the recent patterns in cryptocurrencies do play out, it is possible to have significant gains in this market. But you do want to be careful and need to make sure to do your research to have the best experience here.
One of the main points is to have the right security when you do purchase your cryptocurrency assets.
While you can buy and sell your favorite cryptocurrencies, including Bitcoin and Ethereum, on both crypto exchanges and wallets, for maximum security of your invaluable digital assets, you should consider having a top-rated crypto wallet.
There is no shortage of crypto wallets available in the market, offering different services as well as varying degrees of protection. The one that aligns with your needs is the best option for you. Below, you will find a dig on our top picks when it comes to present-day crypto wallets.
Coinbase Can Be One of the Best Crypto Wallets
Are you just starting in cryptocurrency investing? Well, then there is no better wallet option for you than Coinbase.
Coinbase provides an easy-to-navigate user interface and charges absolutely nothing for storing crypto. Moreover, it has top-grade security, including multi-signature and two-factor authentication support.
It is worth mentioning that besides being beginner-friendly, Coinbase is amongst the best crypto wallets in the world, supporting hundreds of thousands of tokens across the globe. It can also be linked to most of the most renowned bank accounts.
Note, however, that Coinbase’s application is available on mobiles, tablets, and as a chrome extension.
This is known as a hot wallet because it is easily accessible and it is not where you would have to take extra steps to ensure that transactions are extremely safe.
Launched in 2011, Electrum is one of the oldest crypto wallets, and your go-to choice if you are interested solely in Bitcoin trading.
Electrum is very fast and can be easily set up due to its lightweight clients. More importantly, it offers greater security as compared to the other hot wallets in the market. On top of that, the transaction fees can be customized. The faster you want the transaction to execute, the more fee you’d have to pay.
Moreover, Electrum doesn’t suffer any downtime due to the solid serve configurations.
However, the use of this wallet is limited as it only supports Bitcoin trading. It also doesn’t have any customer support via phone, email, or chat.
To some, this might be a great thing because it keeps their trading simple. They can keep it extremely simple when it comes to their digital asset exposure. Since bitcoin is the premiums asset and continues to lead the industry, sticking to just bitcoin can certainly yield handsome rewards over the long term.
For Ethereum trading, MetaMask is the best hot crypto wallet. Its user-friendly interface makes it pretty easy to access thousands of tokens and decentralized applications through the Ethereum network. You can access famous NFT marketplaces, like OpenSea, by connecting them directly to the wallet.
MetaMask’s app is available on both Android mobiles and Apple Devices. For Desktop, you can download it as an extension on Google Chrome, Mozilla Firefox, Microsoft Edge, or Brave browsers.
The only downsides to this crypto wallet are that there can be high fees for buying Ethereum and if you want to trade Bitcoin, you won’t be able to directly store it.
Do you find it hectic to sit on a desktop computer all day to keep your cryptocurrency trading? If so, you need the best crypto wallet always on your mobile. That is where Mycelium comes into play.
What primarily makes Mycelium the best mobile wallet for cryptocurrency is its potent security and state-of-the-art transaction history information.
Furthermore, this cryptocurrency wallet is compatible with popular cold storage solutions, like Ledger, KeepKey, and Trezor. It also offers in-app crypto exchange, offline transactions, and educational material for its users’ guidance.
Nonetheless, it only supports Bitcoin, Ether, and ERC-20 tokens. Also, if you are a beginner, you may find its interface to be confusing.
If you want maximum flexibility in your options when it comes to cryptocurrency trading, Exodus is your choice. Besides its user-friendly interface, it charges no fees at all for receiving crypto.
Having top-grade security features, exodus is excellent for both holding and sending, receiving, or exchanging nearly 200 cryptocurrencies, including Bitcoin.
Some of the functions of Exodus, like 24/7 live customer support and built-in crypto exchange, are completely exclusive to this wallet.
Furthermore, you can also manage crypto assets in Exodus securely from a Trezor hardware wallet.
However, it has a high transaction fee on the crypto exchange and doesn’t offer two-factor authentication.
Get Exodus Bitcoin & Crypto Wallet
Guarda Wallet is arguably the best overall crypto wallet out there. It can be downloaded as a desktop wallet, or mobile wallet, or even be used as an online wallet. Once set up, users can start trading and earning crypto. It is incredibly user-friendly and offers free storage.
Guarda provides you access to a plethora of resources, including more than 400k digital assets. The application also has industry-leading security, allowing users to own and fully manage their private keys and user data.
Furthermore, the custody-free service from Guarda makes your fund management much more convenient and quicker, and none of your private data is stored on company servers.
Nevertheless, it charges high fees on crypto purchases and doesn’t offer offline crypto storage.
A Few Cold Storage Options For Crypto Wallets
These are all compelling brands that many people have talked about in the past and still use currently.
Hopefully, you see an option that meets your needs above! Remember to practice safety and to conduct the right level of research when it comes to your cryptocurrency purchases. It is possible to find many different pitfalls if you are not careful.
If you are looking for fantastic results in this sector, check out more of our future articles on digital assets.
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