Cryptocurrency wallets are software programs that store your public and private keys and interface with various blockchain so users can monitor their balance, send money and conduct other operations. When a person sends you bitcoins or any other type of digital currency, they are essentially signing off ownership of the coins to your wallet’s address. To be able to spend those coins and unlock the funds, the private key stored in your wallet must match the public address the currency is assigned to. If public and private keys match, the balance in your digital wallet will increase, and the senders will decrease accordingly. There is no actual exchange of real coins. The transaction is signified merely by a transaction record on the blockchain and a change in balance in your cryptocurrency wallet.
Today I am gonna show u the top 5 cryptocurrency wallets which u can use to store your crytocurrency
- Bread Wallet
Breadwallet is a real standalone bitcoin client.
There is no server to get hacked or go down, so you can always access your money.
Using SPV mode, breadwallet connects directly to the bitcoin network with the fast performance you need on a mobile device.
Pros
- Easy to use
- Free
- No registration or signup required to get started
*Connects directly to the bitcoin network - Touch-ID login option
*.Built-in customer support section - Does not collect any customer information
- Ability to buy bitcoin directly through Bread app
- A new wallet address is generated automatically for every transaction, enhancing privacy and security
Cons
- Numerous customers have reported issues, with both the iOS and Android version of the app freezing
- Does not offer two-factor authentication
- Does not offer multi-signature transactions
- May be slow to sync to bitcoin network on startup
- Some features, like buying bitcoin, require the use of third-party services
- Does not currently include replay protection for potential forks in the blockchain
*Does not currently support altcoins
- Mycelium wallet
Mycelium Wallet is for the more adept bitcoin user - giving coin control features.
The wallet is backed by a large active development team that is continuously innovating.
Pros
*Strong industry-wide reputation.
*Open-source.
*Integrates with a range of services, including hardware wallets TREZOR and Ledger.
*Offers several account types.
*Fast connection to the bitcoin network.
Cons
*No ability to sign messages.
*No desktop interface.
*May not be ideal for beginners
- Jaxx wallet
The Jaxx cryptocurrency wallet was created in 2014. The wallet supports Bitcoin, Ethereum, Dash and numerous other cryptocurrencies. The company behind Jaxx is Decentral, which is a leading blockchain company in Canada. The company was founded by Anthony Diiorio, Ethereum’s co-founder.
Pros
*Ideal for beginners.
*Wide selection of cryptocurrencies, including the world’s largest.
*Highly accessible, with mobile and desktop compatibility and seamless integration across all platforms.
Cons
*Some bad press lately due to security concerns.
*A lack of 2-factor authentication
- Trezor wallet
Trezor is one of the most reliable hardware cryptocurrency wallets. It never exposes your keys and cannot be affected by malware. It is generally used to store a large number of bitcoins.
Pros
*Secure.
*Multiple currencies.
*Easy-to-use interface.
Cons
*Complicated PIN.
*Limited transaction opportunities.
*Cost vs free alternatives.
- Ledger Nano S
Ledger Nano S is a Bitcoin, Ethereum and Altcoins hardware wallet, based on robust safety features for storing cryptographic assets and securing digital payments. It connects to any computer (USB) and embeds a secure OLED display to double-check and confirm each transaction with a single tap on its side buttons.
Pros
*Multi-currency support
*Wallet software integration
*OLED display
*Affordable
Cons
*Brand reputation still growing