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2 months ago
With over a hundred Crypto wallets available, it's getting harder to choose the best one. A lot of wallets are available in the Crypto world these days and most of them are not that serving. Here we're going to be talking about the top 3 picks for the best cryptocurrency wallet to use especially if you're a beginner. Choosing a secure easy-to-use wallet is the first crucial step to owning cryptocurrency. Beginners tend to keep their coins on the exchange they bought them from basically giving up control and trusting the exchange to keep the coins safe for them. There's a lot of things I can do but keeping all my coins in a custodial wallet is not one of them, and that's exactly what most beginners do especially when they have no one to tell them how risky it might be sometimes.
A wallet that doesn't allow you complete control over your coin is known as a custodial wallet. But the best and recommended way to store cryptocurrency is to move your coin off the exchange to a non custodial wallet.
Differences between a custodial wallet and non-custodial wallet
No private key access
No complete control over assets
You have your private key access
Complete control over your coins
So in this short post only few non-custodial wallets is going to be talked about as there are lots of them. But few (three) of the ones that are more adopted and used will be discussed here. So without wasting our time, let's dive in to it.
So the number on the list is;
1) EXODUS WALLET
Exodus wallet is a free software wallet that can be installed on a computer or mobile phone. Its beautifully designed, intuitive to use and it supports over a hundred cryptocurrencies and tokens. Exodus allows you to trade coins from within the wallet and earn interests on your Crypto holdings. Its main disavdvantage is that it's not open source, meaning its code isn't publicly visible. Then therefore doesn't get reviewed by community members to evaluate its quality. If you want to take security up a notch you can use a hardware wallet. A hardware wallet is a physical device that stores your coin offline in a secure manner away from most possible hacks and theft attempts.
Exodus wallet features:
It's beginner friendly
Free noncustodial software wallet
Supports mobile and desktop
Supports over 100 Crypto assets
Not open source
2) LEDGER NANO X
Ledger Nano x as we mentioned above is an example of a hardware wallet. It is a wallet that is easy to use and support over a thousand coins and tokens and can be controlled using your smartphone as well as from your computer. On the downside, the Nano x's code is not completely open source either and it's a bit pricey. But If you're serious about security then the Nano x is a very secure cryptocurrency wallet you should go for.
Nano X wallet features:
It's a noncustodial hardware wallet
It has an intuitive design (user friendly interface even for the beginners)
Supports over 1000 crypto assets
Support mobile and desktop
Not open source
It is expensive
3) TREZOR ONE WALLET
The Trezor one wallet is an affordable alternative to the Ledger Nano x. The Trezor one is a good open source intuitive hardware wallet that support wide range of crypto assets and which you can get at half the price of the Ledger Nano X wallet. It's main downside is that it doesn't support the XMR, XRP and EOS but supports any other coins you probably might think for. The reasons behind their incompatibility with these few assets is a story for another post. It's a very good wallet if you're not going to be dealing with any of the aforementioned cryptocurrencies.