Best Crypto Wallets [2022] That Can Protect Your Cryptocurrencies

Sophie Webster, Tech Times 17 March 2022, 08:03 pm

Bitcoins and other cryptocurrencies are slowly becoming a hot investment among individuals and businesses. Since these cryptocurrencies cost thousands, it only makes sense that a secure place is created for its security.

Crypto wallets are software applications that can be installed on your computer, smartphone, or cloud. They offer more control over your cryptocurrencies than most exchange services.

Best Crypto Wallets

Online services like PayPal, Robinhood, and Venmo allow you to purchase bitcoin and other cryptocurrencies quickly and easily.

However, most of these services, and their own cryptocurrency wallets, are custodial, which means you are trusting the company to keep your cryptocurrencies safe, according to CNET.

If you want an alternative wherein you can have more control over your cryptocurrency. Then you can check out the following wallets to see which suits you best.

Also Read: How a Web Application Firewall Can Help Protect Your Crypto Wallet

Coinbase Wallet

Coinbase is the best-known cryptocurrency exchange in the United States. The company helps users to easily trade cryptocurrencies from dogecoin to bitcoin, and has its own Visa-backed debit card that integrates with Google and Apple Pay, according to Wired.

If you are new to cryptocurrency, the Coinbase Wallet is a great company to sign up for. It can be downloaded as an app for iOS and Android. The interface is intuitive, and the wallet is integrated with the company's exchange, making it easy to conduct transactions, including buying tokens and coins with traditional currency.

Also, Coinbase Wallet is non-custodial, which means that only you have access to your wallet's private key, which consists of a 12-word recovery phrase when you sign up.

Take note that there is a difference between storing your cryptocurrency on Coinbase's exchange and the wallet because the exchange is custodial while the wallet is not. However, their integration makes it simple to transfer funds back and forth.

Coinbase was one of the crypto wallets that was targeted by hackers

earlier this year, but the company has tightened its security since then.

Trezor Model T

Trezor's new user interface, Trezor Suite, came out earlier in 2022, replacing Trezor's Wallet Web app. The analysis reflects the user's initial impression of a new product, according to Money.com.

However, Trezor has been around for some time now, as it was established back in 2011 as a subsidiary of SatoshiLabs.

The Model T is Trezor's second-generation hardware wallet. It comes with many of the same features as the Ledger Nano X. One difference, though, is that Trezor's software is completely open-source, which provides some additional information protection.

Ledger Nano X

The Nano X is Ledger's second-generation cold storage wallet for cryptocurrencies. The integrated Ledger Live platform, which is easy to use and learn, supports more than 1,800 coins and tokens, including bitcoin, ether, and XRP.

The wallet can be linked to your computer through a USB cable and Android and iOS mobile devices through Bluetooth, which is a connection that Model T lacks.

The device is solid and has an LED screen. First, you need to set up a PIN. Then it has a 24-word seed phrase. The phrase acts as your wallet's very own private key. Just like other wallets, as long as you keep the private key safe, you won't lose the assets.

Aside from crypto wallets, NFT wallets are also available for those who want a secure place to store their NFTs.