Cryptocurrency world has emerged in the last few years and with it's development and increasing demand, crypto investing is taking the world by storm.

As crypto becomes more valuable, it also becomes more attractive to individuals looking to make a quick buck but too lazy to invest themselves. These people will stop at nothing to steal an investor's hard earned crypto. This is why having a secure wallet you can trust to keep your crypto safe is paramount when investing in cryptocurrency.

Crypto Wallets

A wallet is just a piece of software or a device that contains and manages your private keys which give the holder access to the crypto stored in a wallet. These private keys keep your crypto safe from hackers but only if you keep them safe.

If someone gets your private keys then they get your crypto. This is why choosing the right wallet for you is crucial to maintain a positive experience with cryptocurrency. After all, you don't want an intruder accessing your information the same way you don't want a robber coming into your home in the middle of the night.

There are two types of wallets: software and hardware wallets

Software Wallets

Software Wallets - also known as hot wallets due to being connected to the internet which mean they theoritically could be hacked.

That may not sound like the best choice for someone who has bad cyber security habits unless they trade in low volumes and aren't losing sleep over the safety of their crypto.

These wallets have the advantage of being quite to set up and to access at any given time. Making them a convenient choice for most traders

Software wallets can be divided into smaller categories:

1. Web wallet - used to access blockchains through a browser without having to download or install anything. You may either be able to set up personal password to access your web wallet but in other case, service provider hold and manages your keys on your behalf. This is risky and not recommended even for experienced users because no one wants to hand over all their money to a stranger.

2. Desktop Wallet - requires you to download software which you can execute locally on your computer. This is a better option because you will have full control over your keys and funds. Once you generate a new desktop wallet, a file called wallet.dat will be stored on your computer. This file contains a private key for yout to access your crypto address and you will have to encrypt it with a personal address. You will need to provide information everytimd you run the software, so never forget your password. You'll lose access to your funds. A smart idea is to back up your wallet.dat and keep it somewhere safe

3. Mobile Wallets - similar to desktop wallets with a slight difference that it is designed specifically as a smartphone app. These are more convenient because you can send and receive cryptocurrencies throught the use of qr codes and your phone is glued to your hands all day long. Mobile wallets are suitable for percorming daily transaction payments quickly and easily. However, do stay aware that your smartphone is vulnerable to viruses or it can easily break. To stay safe, you should encrypt your mobile wallet with a password and back up your private keys as well

List of popular hot wallets you might want to consider uisng and the good news is that all of these are free. However, charges from transactions may apply when moving your crypto due to gas price.

Coinbase - known by many users as exchange. It has also offered up crypto wallet. Coinbase wallet offers both mobile and web version with android and ios support. It's important to note that having your crypto in coinbase's wallet doesn't equal having it on the exchange which means it's more secure.

Trust wallet - supported by one of the big exchanges. In this case binance. It has over 5 million users, has integration with the binance exchange just like coinbase's wallet with its own exchange. Trust wallet has the added benefit of offering a decentralized apps marketplace which allows you to take more advantage of the benefits of the blockchain world. It also offers staking option built in, allowing users to make passive income.

Exodus wallet - offers advanced features like live charts, a built-in exchange support for over 100 cryptocurrencies and an app's marketplace. It's available in a mobile and desktop version.

Honestly, there are more options to software wallets with names like Edge, Zengo, Mycelium, Dapper and Jax offering different features.

Hardware Wallets

Hardware wallets - also known as cold wallets because it is a form of offline storage making them much more secure and resistant to online hacking attempts. This are the best wallet, simply becaase they present the safest way to store your crypto investment.

Cold wallets use a physical medium to store the keys offline. This method is the best and only choice for long-term investors but can be equally suitable for beginner users who want a safe option.

Hardware wallets use a random number generator to generate both public and private keys and these are then stored in the device itself. Although it's security is a huge advantage, hardware wallets aren't all beauty but contain a beasty side. As it is a physical device, you must purchase, it's high price is a downfall for many crypto fans. Prices can range to $70-$100 and they may even go up in some cases to $2,000.

Hardware wallets require you to set up a recovery c password that must keep safe, if not, you won't be able to recover your coins if your wallet is lost, damaged or stolen.

The two biggest hardware wallet in the market is ledger and trezor. Both always feature is as the top hardware wallet rankings.

Trezor - supports windows, linux, mac and has one of the best android wallet apps. It has a full two factor authentication and a password manager app that's compatible with erc20 token. It's easy to use. You can connect via the computer and reset the management software. The price is quite high at $169.99 but features of the device is worth it.

Ledger - probably the most popular and recommended wallet because it's extremely reliable. It doesn't only present the best security but also supports more than 1,500 cryptocurrencies and the list just keep on expanding. It's quite possible that you will be able to store your point of preference in the wallet while setting up your device. Though ypu will select a pin code and get a 24 word recovery phrase in case you forgot the pin or lose the device. So make sure to store your recovery phrase in a secure place. It's more cheaper than the trezor. Ledger nano s - $59 , ledger nano x - $119. Not only that is more cheaper than trezor but it also present more feature and pr9vides you with better security.

Always remember when using any kinds of wallets - not your keys, not your coins.

So which type of wallets which do you think you will use or what kind of wallet are you using right now? Let me know by leavibg a comment down below and don't forget to like, subscribe and upvote.