In recent years the cryptocurrency has seen a significant turn over when compared with the past. The Bitcoin/cryptocurrency names are very much familiar to the people.
Cryptocurrencies are the government-backed digital currency that can be received or sent without the intervention of third parties with the help of the block-chain technology. With the increased demand & development, the platforms are offering enormous benefits for both customers and investors.
The wallets are exclusively developed for storing digital assets and managing security issues such as identity verification & saving secret keys. Now, let us move on to know the need for a cryptocurrency wallet.
At present, in the country, we very much need wallets due to security concerns. So, keeping your coins in a secure wallet is the only way to safeguard your funds from unauthorized access/spammers/hackers.
In this journey, we are going to present you top cryptocurrency wallets you can opt-in 2020.
Before we move on to the core topic, let us know what exactly a cryptocurrency wallet is?
Definition of cryptocurrency wallet?
The usage of wallet comes into picture when you wan’t to use any sort of Cryptocurrencies. And a wallet is something equivalent to our bank account.
A wallet is a safe and sound digital wallet that is mostly used to transmit, store, and receive digital currency.
Every coin will have its wallet, and some will opt for third-party wallets to use coins. The wallet acts as your interface between you and the entire cryptocurrency networks.
The wallet contains both public and private keys, which allows you to spend your coins it may be like send or receive. When it comes to reality, we are safeguarding key not coins, because private keys are essential to access the coins.
Before we know the best cryptocurrency wallets, it’s better to identify types of wallets in the market.
Types of wallets
We have five types of cryptocurrency wallets available in the market.
- Hardware wallets
These are the physical devices, which store private keys offline. Among all types, it is the most secure cryptocurrency storage method because it considered as unhackable. As it is an offline device, the private keys are very safe because they will not leave the device.
Best hardware wallets: Ledger Nano S, keep Key, and Trezor.
- Paper wallets
Paper wallets are the regular paper documents where you can store and safeguard your private keys. Here the keys are developed using an online application, and those are printed on the paper using an offline printer.
Paper wallets are known as cold wallets because here, we are storing the keys physically offline. Verge paper wallet is one of the top wallets in 2020 that you can’t neglect to store your keys.
- Desktop wallets
These are the wallets you can store on either on Desktop computer or Laptop. In this type of wallet, the keys are stored on the computer’s local hard disk.
These are not secured as hardware or paper wallets because there are chances of attacks on local drives. The desktop wallets will found in various versions such as Linux, Windows, and Mac.
Best Desktop wallets: Electrum and Exodus.
- Mobile wallets
If you are looking for a fast and easy trading wallet, then mobile wallets are the right choice, and they are the most convenient ones. The mobile wallets are available on both Android & IOS platforms. And mobile wallets are mostly used by the people who are making small purchases.
Best Mobile wallets: Mycelium and Jaxx
- Online wallets
These wallets are owned & maintained by third parties, and they considered as the most unsecured wallets. But, there is one positive thing about the online wallets that is you can access it from anywhere.
And these are available in chrome & Firefox versions. The wallets mainly used for regular transactions and active trading.
Best online wallet: Guarda
Now, let us move on to knowing the best cryptocurrency wallets
Best cryptocurrency wallets
The key will play an essential role in every crypt wallet, and before you pick up a crypto wallet, you must look after both positives and negatives as well.
- Coinebase wallet
Coinbase takes the top slot in the list as it is one of the easiest ways to sell, buy, and hold Cryptocurrencies. Coinbase is the most secure crypto trading platform.
Along with it, it also provides insurance policies for all the cryptocurrency investors. If you are planning to invest, associate your bank account, and start selling & buying using your wallet.
It has a great UI, which is easily understandable for beginners.
It has excellent security features like signature and two-way authentication, and one can have more than one signature.
It is backed by many investors & reputable exchanges.
It will backup private keys to the cloud.
It allows users to interact with the Web 3 DAPP browser.
- Ledger Nano S
If you want wallets at the lower price with unique features, then Ledger Nano S is the right choice. And it is most suitable for altcoin transactions. One can store more than 40 digital currencies in it.
It was listed in the top cryptocurrency list because of its unique features, uses, and security issues. You can buy these devices from various online stores.
It is malware proofed, and it is not easy to hack. And it can run on multiple apps at the same time.
Its nano version more accessible and comfortable to use, and even it does not require any computer also.
Users can connect to their mobile devices via Bluetooth.
Even though your device is lost, your key is because it has secured pin code.
It has a built-in crypto exchange feature.
A user can manage multiple accounts from a single device.
- Electrum wallet
Electrum is the next best crypto wallet that you opt for in 2020, and we listed in the top wallets because of its reliability and experience.
Electrum initially designed for supporting bitcoin, but later on, it forced to Electrum wallet codebase to support altcoins and made some modifications according to the requirement to make it compatible with blockchain technology.
It is a lightweight & easy wallet to store your private keys securely.
It uses SPV (Simple payment verification) method to make safe transactions regularly.
As it is an automatic interface, it is easily understandable by the newbie’s also.
The wallet uses two levels of protection/encryption to safeguard your funds.
It is an open-source. And one can add code to develop it more.
The wallet will not store any of your information.
Download link: Electrum wallet
A European based company offers Guarda wallet, which is also known as a multi-currency noncustodial wallet. The online software will support more than 40 Cryptocurrencies and 10k currently like ETC, Ripple, EOS, BTC, Zcash, and many more.
You can find many crypto tools to manage digital assets, exchange, and to generate Guarda tokens. You can use this wallet from anywhere according to your choice, because of which it became the first choice for many coins.
The wallet will not save any confidential information such as private keys, data, or client information. It removes every information asap ones the client’s signoffs from the device.
A user can quickly shift from one coin to another without any registration process.
It will not allow a user to buy coins directly from the wallet. Apart from that, you can use your credit card or online banking to purchase coins.
One can take backup manually with .txt format and password.
It supports various operating systems & coins, which is a perfect fit for daily transactions.
- Infinito wallet
It is the first wallet in the world that provides fast & easy application access with high-end security. It allows 24/7 transaction with the utmost security and regulations of the blockchain.
It is most popular because if its faster access with optimized security options. It supports various Cryptocurrencies such as Bitcoin, Neo tokens, Ethereum, and many more.
This mobile wallet is available on Android & IOS platforms.
It has both private & public keys. A private key is to safeguard from malware attacks, and a public key is used by other users to send coins.
It has a great feature set like transaction history, virtual portfolio, contacts management, QR code scanner, and multi-language.
It requires transaction fees, and they are divided into Economy, Regular, and premium.
Touch ID security feature, keeping it apart from other wallets.
Coin management features allow users to allocate coins for a particular usage.
If you are exclusively looking for hardware wallets, then Trezor is the best option to choose from. It is an altcoin wallet that acts as a USB device, and it mainly functions on Zero Trust Approach.
Trezor is one of the most trusted and used multiple cryptocurrency wallets according to the cryptocurrency wallet reviews. Even though a computer is affected by malware, one can use this wallet in it.
A user can connect directly to the computer with a USB.
It is available at affordable prices, and the prices begin from €89.
A user will have 100% control on private keys with two-factor authentication.
A user can back up the device using 24-letter recover seed, which is developed with the help of the number generator algorithm.
Wallet communication will be limited when the USB is disconnected.
It has experienced threats and malware attacks.
Exodus is the best wallet that you can find because it offers its services on mobile, desktop, hardware wallets for the customers. It supports more than 12 Cryptocurrencies such as Zcash, Etherum, Litecoin, and many more.
It is most known for its hassle-free usage.
It has the ability to exchange between two platforms
It has a user-friendly interface by which a newbie can also easily understand the platform and can perform a transaction.
It has a great security feature, and it will not share any information in exchanges.
The wallet supports Shapeshift, along with many other Cryptocurrencies.
One can make transactions directly using the Exodus wallet.
Cons: It does not have two-factor authentication, which is making concerns on security.
Jaxx wallet was introduced in 2014, and it is known with different names like multi-platform, multi-currency, and all-one cryptocurrency wallets.
It allows exchanging around 80+ Cryptocurrencies. Along with it, it has some additional features such as coin balance, transaction history, and information of a particular coin.
The app is available on Windows, Android, IOS, and Linux platforms.
It is 100% free and trusted by millions of users across the globe.
It is an excellent platform to support customers and provides customer services through various social media platforms.
Block explorer feature helps to check your balance, and you can complete every transaction using multiple blockchains.
It allows users to track the market by analyzing market caps, price challenges, and the latest trends.
- Keep Key
Keep Key wallet is a bitcoin hardware wallet that secures keys from physical & virtual theft. It can store different types of Cryptocurrencies, such as Dash, Namecoin, Litecoin, Bitcoin, and Dogecoin.
It will generate a 12-word security key by which you can retrieve data even if you lost the device. The wallet will integrate with the software wallet available in your computer, by which it takes over the private key generation, storage, and transaction signing.
It is one of the topmost and best HD wallets when it comes to security.
It also offers web platform along with mobile & desktop applications that bring all crypto tools under one platform.
It also allows users to create a portfolio around digital assets.
It uses a security sentence to safeguard and backup, private keys.
The wallet is the developer of 20+ crypto wallet apps for various tokens & coins. Freewallet is the first exclusive bitcoin gold wallet. It supports multiple cryptocurrency wallets such as DOGE, BTC, and many more.
The app is available on IOS, Android, and other online platforms.
The wallet will not charge anything for internal transactions, but you need to pay for network fees when you are doing transactions with outsiders.
The wallet will not offer private key information for users.
It acts as a hot wallet.
You can set up a monthly or yearly subscription limit to the damage possibility.
You can immediately terminate all the sessions if you feel any suspicious thing is happening.
- Final words
These are the top 10 cryptocurrency wallets across the country for 2020. These are very much useful and playing a significant role in the crypt industry.
In recent times most of the people are showing interest in trading digitally, and for them, wallets are very much beneficial to make their journey simple and easier.
It is your choice to select your preferred wallet based on your usage and preference.
If you feel any app to be added to the list. Please mention in the comment section.
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