most used crypto wallets

Most Used Crypto Wallets – Which Is The Best?

Most Used Crypto Wallets

When it comes to the most crypto wallets, there are numerous wallet and exchange options to pick from.  But which one is the best?

 Every cryptocurrency wallet has its pros and cons.  Some are easier to use, while others are more secure.  A few are also better for beginners, while others cater to advanced users.

This post will look at the pros and cons of each type of wallet.

When deciding on a wallet, this will help you decide which one is ideal for you and what features are essential. 

Best Android Wallet

Cryptocurrency is a new and growing market.  To get started, you should invest in a wallet.  A good cryptocurrency wallet is a must-have tool for anyone who wants to start trading.

There are two main types of wallets: Desktop and mobile.  The desktop wallets are the easiest and often the safest.  They are also more challenging to set up.

However, they require a lot of storage space.  So, if you’re just getting started, you may want to stick to a desktop wallet.

Mobile wallets are trendy and easy to use.  You can download a wallet and transfer funds straight from your phone.  However, they aren’t as safe as desktop wallets.

Hackers often target them.  So, you must keep your phone safe.

  • Sending and receiving money easily through email and mobile phone
  • A bank account where you can store your money
  • Multiple cards: credit card, debit card, gift card, loyalty card, etc.
  • Payment service
  • Transfer funds (money) from one account to another
  • Safe place for your cash and card
  • Easy to sync to your computer
  • You don’t need to pay fees to your bank

Best Apple Wallet

Apple Pay is a mobile payment system developed by Apple Inc. and introduced on September 19, 2014.  It allows customers to make purchases at retail locations using their iPhone, iPad, and Apple Watch.  It requires a Near Field Communication (NFC) chip on the device and a magnetic strip on the back of the card.  It is available on iPhones, iPads, and Apple Watches.

In short, Apple Pay is a fast, easy and secure way of making purchases.  Unlike credit cards, it does not require a signature or PIN to complete a transaction.

On the Apple App Store, the “iTunes Store” section has a “Wallet” category.  Various apps allow users to store money within this category, such as Coinbase and Circle.  However, the Apple Pay app is the only app that supports Apple Pay.

There are various advantages of using Apple Pay, including ease of use and security.

  • NFC chip, allows easy payment at checkout
  • Quick access to your cards and security information
  • Ability to transfer money from credit or debit cards to Apple Pay
  • All transactions secure by using biometrics
  • Apple Pay on supported websites

Best Bitcoin Wallet

The best Bitcoin wallet is the one you use every day.  It should be the one you trust the most.  That’s why we’ve created this guide.

We’ve listed the best Bitcoin wallets on the market, from the most popular to the more obscure.  We’ve also looked at what makes each wallet unique and how they compare.

  • The most secure wallet is offline cold storage, aka a hardware wallet
  • The most user friendly wallets are web based, because you can store all your addresses and funds in one place
  • Multi-signature technology is a new feature in newer wallets that allows multiple people to sign a transaction with their own private keys
  • Hardware wallets have no user interface and require the user to set up the private keys themselves

Best Ethereum Wallet

We’ll begin with the most popular wallet for Ethereum, MyEtherWallet, because this topic will be focused on the broader issue of cryptocurrency wallets. 

MyEtherWallet (MEW) is a web-based wallet that allows users to send and receive Ether (ETH) from their account without having to download any software.

The most important thing to know about MEW is that it is free and open-source.

  • Offline access
  • Private keys stored locally, not on a server
  • Supports both MainNet and Rinkeby Testnets
  • Uses Ledger hardware wallet support – Ledger Wallet does not currently support the EOS blockchain. This is scheduled to be fixed soon.
  • No charges
  • Very fast

Best Hardware Wallet

A hardware wallet is a device that is plugged into your computer, smartphone, or another device.  It is used to store your cryptocurrencies and is often used as a backup option.

It’s a great option because it offers complete control over your funds, and they can be stored offline.  This means they are safe even if your computer crashes or your phone gets lost.

However, it cannot be easy to set up and use.  If you’re new to crypto, it may not be the best option.

  • Ledger Nano S – Hardware wallet supporting Bitcoin, Litecoin, Ethereum and Bitcoin Cash
  • TREZOR – Hardware wallet supporting Bitcoin, Litecoin, Ethereum and Bitcoin Cash
  • KeepKey – Hardware wallet supporting Bitcoin, Litecoin, Ethereum and Bitcoin Cash
  • Electrum – Open Source client supporting Bitcoin, Litecoin, Ethereum and Bitcoin Cash

Best Multi-Currency Wallet

Multi-currency is the feature that lets you hold multiple cryptocurrencies on a single wallet.  It’s also referred to as cross-platform.

You can store and send coins across different blockchains using this feature.  Some wallets let you store Bitcoin, Ethereum, Litecoin, Ripple, Dash, and other popular altcoins.

However, many people do not want to carry multiple coins at once, especially when they’re trying to save money.  They might prefer a wallet that only stores one coin.

  • Send and receive money from around the world using a single account.
  • Multiple cryptocurrency wallets to store, transfer and manage your crypto assets with ease
  • Keep your funds safe in the cloud with bank-level security
  • Access to your wallet on mobile, PC, Mac and Android devices using our apps
  • The ability to generate and receive payments in multiple currencies including USD, EUR and GBP.
  • Built-in cryptocurrency exchange to trade between different cryptocurrencies

Best Paper Wallet

Paper wallets are a fantastic way to store your coins offline.  Unlike hot and cold storage, they are easy to use and do not require specialized equipment.

You can create a paper wallet by printing out a public/private keypair and securely storing it.

Several services out there will print your private keys for you.  These services will also provide you with a QR code that you can use to redeem your Bitcoin.

While paper wallets are great for beginners, they are not the most secure storage method.  If your private key gets lost or stolen, you can lose access to your coins.

A more secure alternative is hardware wallets.  These devices are similar to a USB stick, except they store your coins on an encrypted partition on your computer.  They are great for advanced users but are a little harder to use.

The advantage of these devices is that they provide the highest level of security.  While you can lose access to your funds if you lose your device, the risk is very low.

This is especially true for cold storage.  The problem with hot storage is losing access to your coins.  Your paper wallet is an ideal way to store coins, as it provides the best of both worlds; you have access to your funds, but you are safe from hackers.

  • The security of this paper wallet is based on multiple factors such as
  • Paper wallets are created using specialized printers. This reduces the risk

of counterfeiting.

  • They can be easily distributed to others for storage.
  • They are not connected to the internet so they cannot be compromised by hackers.
  • They can be stored safely in any location as they do not need an internet connection

Question: What are some of the new features that are coming out for EOSIO?

Bullet point answers:

  • DApps
  • Multi-chain technology
  • Smart contracts
  • Delegated Proof of Stake
  • Chain ID

Best Website Wallet

Website wallets are the most straightforward.  The process is simple.  You sign up for an account, deposit some cash, and then you can start making transactions.

However, website wallets tend to be more expensive because they require a fee per transaction.  Also, they only support digital currencies, so if you’re looking for fiat currency wallets, you’re out of luck.

Website wallets are typically suitable for beginners because it is easy to deposit funds, but they are not very secure.  A hacker may steal your money if your wallet is compromised. 

  • Maintain private keys on your own device/ computer, not in the cloud (i.e. not stored online)
  • Keep your assets offline
  • Use cold storage, keep assets offline and use a paper wallet to store the public key
  • Make sure you backup everything!

The Best Most Used Crypto Wallets

In conclusion, it depends on what kind of person you are.

If you are more of a technology guy, you may prefer a phone app wallet.  But if you’re more of a hands-on guy, I suggest getting a hardware wallet.

However, keep in mind that these devices are costly, especially if you plan to invest in a large amount of cryptocurrency.

So, I suggest that you start small by using a paper wallet.  It’s cheap, easy to use, and you won’t lose any money if your private keys are mixed up.

Want to know more about the best most used crypto wallets?  Click here to download my free eBook!

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