Best Cryptocurrency Wallets To Kickstart Your Crypto Journey

A cryptocurrency wallet is known to be one of the most important tools when it comes to investing in Bitcoin, Ethereum, Solana, and others in a safe and reliable way.

Imagine a traditional wallet - it is available in different shapes and sizes but at its core, the wallet is used to keep your money safe. A top crypto wallet serves the complex purpose of keeping your private key safe. 

A private key is what you’ll use to access your cryptocurrency holdings. This means that a crypto wallet doesn’t actually store actual cryptocurrency. 

Furthermore, the cryptocurrency wallet will allow you to send and receive crypto from an exchange or a third party. That’s why owning a top cryptocurrency wallet becomes important when investing in crypto. 

Lucky for you, we’ve compiled the best cryptocurrency wallet list for 2021 with each one’s unique features and pros & cons. You can consult a Cube Wealth coach or download a Cube Wealth App.

Top 6 Crypto Wallets For 2023

Before we get to the list of top cryptocurrency wallets, it’s important to know two terms:

• Cold Wallet: Physical devices that are compact and easy to carry and known to have greater security (think of a USB stick)  
• Hot Wallet: Completely online and known to be vulnerable to breaches (think of a virtual ATM or trading account)

Wallet #1: Coinbase Wallet

The Coinbase Wallet is provided by the world’s second-largest crypto exchange, Coinbase Inc that is also a publicly-traded company. 

Features Of Coinbase Wallet 

• Hot wallet
• Self-custody
• Swap assets
• NFT support

Pros & Cons Of Coinbase Wallet

Wallet #2: OPOLO Wallet

OPOLO Wallet is a physical device that’s designed to be convenient for storing crypto. This cryptocurrency wallet is only available for desktop and Android users as of December 2021.  

Features Of OPOLO Wallet

• Cold wallet
• EAL6+ certification (top-notch security)
• Supports 200,000+ coins and tokens
• USB encryption

Pros & Cons Of OPOLO Wallet

Wallet #3: Ledger Nano X

Ledger Nano X is a physical cryptocurrency wallet whose parent company has been making top cryptocurrency wallets since 2014. 

Features Of Ledger Nano X

• Cold wallet
• Cordless
• Supports 1,800 coins and tokens
• Sleek and easy to use

Pros & Cons Of Ledger Nano X

Wallet #4: Mycelium Crypto Wallet

Mycelium is an online cryptocurrency wallet that’s available for both Android and iOS users. It also supports cold wallet integration. 

Features Of Mycelium Crypto Wallet

• Hot wallet
• Cold wallet integration
• Supports Bitcoin and Ethereum
• In-app cryptocurrency exchange

Pros & Cons Of Mycelium Crypto Wallet

Wallet #5: Trezor Model T

Trezor Model T is a physical wallet that’s known to be safe. It also gives users access to security features like Shamir Backup to recover coins and tokens. 

Features Of Trezor Model T

• Cold wallet
• Touch screen
• MicroSD card port
• Shamir Backup

Pros & Cons Of Trezor Model T

Wallet #6: Electrum Crypto Wallet

Electrum is a hot cryptocurrency wallet that’s known to be safe and highly customizable with support for only Bitcoin as of December 2021. 

Features Of Electrum Crypto Wallet

• Hot wallet
• Only supports Bitcoin
• No downtime
• Open-source

Pros & Cons Of Electrum Crypto Wallet

FAQs

1. What types of cryptocurrency wallets are there? 

Ans. There are several types of cryptocurrency wallets, including hardware wallets, software wallets (desktop and mobile), web wallets, and paper wallets. Each type has its own advantages and security considerations. You can consult a Cube Wealth coach or download a Cube Wealth App.

2. What is a hardware wallet, and how does it differ from other types of wallets? 

Ans. A hardware wallet is a physical device that stores your cryptocurrency offline, providing the highest level of security. It's immune to online threats and is ideal for long-term storage of digital assets.

3. Are software wallets safe to use? 

Ans. Software wallets can be secure when used correctly, but they are susceptible to online threats like malware or phishing attacks. To enhance security, it's essential to keep your software and devices up to date and use best practices, such as enabling two-factor authentication.

4. How do I choose the best cryptocurrency wallet? 

Ans. The best cryptocurrency wallet for you depends on your specific needs. Factors to consider include your level of security consciousness, the type and amount of cryptocurrencies you plan to store, and whether you need regular access for trading or transactions.

Conclusion

A top cryptocurrency wallet is effectively your defence against malicious attacks. More importantly, it’s your storehouse of private keys. That’s why it is important to choose the right crypto wallet. 

Apart from the information mentioned above, you must look at the reviews posted by existing users, the historical track record of the wallet, and whether or not it fits your use case before making a choice. 

Note: Facts & figures are true as of 15-12-2021. None of the information shared here is to be construed as investment advice. Exercise caution when investing in unregulated assets like cryptocurrency. You can consult a Cube Wealth coach or download a Cube Wealth App.

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