Cryptocurrency wallet: what to choose?

Which cryptocurrency wallet to choose? Which wallet is the best? What is a multicurrency wallet?

Forex market sharks smoothly fill cryptocurrency exchanges — against the background of its rapid growth, in fact, it is profitable to trade even if the exchange shows a slight loss. The trader receives a bitcoin worth $4 on a cryptocurrency wallet, and by the evening the price of the currency already exceeds $000 - a golden age for investors and novice exchange participants. Since many people are now joining this trend, they will need to register a cryptocurrency wallet.

Our article will acquaint you with what the very concept of “cryptocurrency wallet” means, how money is stored on it, whether it is possible to open multicurrency ones. With some popular wallets shutting down and developers embezzling money for themselves, pay close attention to the sections on unscrupulous cryptocurrency wallets and how to choose the best one for you.

Crypto wallet

A wallet is a location of free money intended for investment in meeting current needs. Cryptocurrency is a virtual unit of account protected from forgery by a cryptographic method. It is transmitted exclusively over the network (with the exception of the upcoming THNX cryptocurrency), so it is issued and stored there.

THNX is a new generation cryptocurrency (1THNX = $1).

A cryptocurrency wallet stores only encrypted records, only unscrupulous developers can steal them. Most cryptocurrencies have separate wallets - full-fledged, lightweight, in the form of browser extensions, hardware ones. You can find a list of them on the official websites.

For example, for bitcoin, this is the resource https://bitcoin.org/ru. To go to the list of cryptocurrency wallets, you need to click on the “Get Started with Bitcoin” button.

In the “How to use Bitcoin” block, the button from step 2 is pressed - “Choose your wallet”.

By moving between tabs and carefully studying the advantages and disadvantages of each wallet, users determine the best one. For cryptocurrency miners, this is a full-fledged computer version, for ordinary users - lightweight or browser-based, for serious businessmen - hardware (no larger than a flash drive).

Another popular cryptocurrency, Ether, also provides users with their own wallets. Their list is available on the main page.

The resource automatically analyzes your system, offering the best option. To view all options, you must agree to the terms of the developers. Next, the user is redirected to https://github.com/ethereum/mist/releases to view the latest Ethereum wallets.

Attention! If the wallet has a closed code, it is 98% insecure. There are cases when programmers created wallets, untwisted them, and, having satiated their monetary appetites, transferred everything to their account and flew to the fabulous Maldives.

Multi-currency wallet for cryptocurrency

When there are many different cryptocurrencies in circulation, working with individual wallets is impractical and takes more time than required. And everyone needs to store the provided passphrase. Therefore, we developed multi-currency wallets, with the additional ability to exchange one currency for another. This is a kind of analogue of a cryptocurrency exchange, with the only critical difference - the owners of the exchanges know the logins and passwords of users, but the developers of multicurrency wallets do not. In addition, exchanges with millions of turnovers are often subject to DDoS attacks due to the centralized storage of resources. They earn at the expense of the stock exchange built into the resource.

An example of such a wallet is Holytransaction Wallet - a wallet for cryptocurrency in Russian, it does not need to be downloaded to use the full functionality, you can register and use the browser version. Here you can store 12 types of currencies, exchanging them for more convenient cryptocurrency resources.

Beware of werewolf purses

The network is full of unscrupulous developers and other network users who want to take possession of the money of gullible people. In order not to fall for the bait of scammers, you should follow certain rules (for example, Ethereum):

• Do not share your unique passphrase with anyone under any circumstances.
• Attention! Data on the state of the account on the wallet for the Ethereum cryptocurrency is stored in the blockchain. They are not transmitted to other sites and do not go beyond the boundaries of the browser or computer.
• Carefully check the site address before entering such a phrase (for example, for Ethereum, https://www.myetherwallet.com) - personal information left on fake sites acts as a guarantor of the theft of funds from the account.
• Check user reviews on several resources - negative ones should be alarming.

For example, Cryptorator is an online cryptocurrency wallet. In appearance - excellent Russian service, nice design.

But, after reading the first comments, few will have the desire to cooperate with such a site.

Website analysis using the WOT browser extension

Best cryptocurrency wallet

The optimal solutions of the modern world are multi-currency wallets, thanks to which you do not need to remember many key phrases to work with altcoins (the successors of bitcoin and ethereum).

A multi-currency wallet for cryptocurrency can be created as:

• Mobile wallet - reliable copies of the selected online service.
• An online cryptocurrency wallet like HolyTransaction with low fees.
• Browser extension with a convenient option to pay directly on the site.
• A computer program with a built-in exchange platform.
• The most stylish are hardware wallets, in the form of a small device for the most secure storage of cryptocurrency assets. For example, KeepKey, Trezor, Ledger Nano S with support for popular altcoins.

The choice of the user depends on his financial condition (you need to pay about $ 200 or more for hardware wallets), requirements for the reliability of funds storage and functions. The best cryptocurrency wallet is a multi-currency wallet that constantly loads new altcoins. Alternatively, you can try to figure out how to set up the WAVES platform to store Ethereum tokens and tokens from related projects and Holytransaction to store popular Bitcoin altcoins. For other currencies, the world famous EXMO exchange is recommended.

Best regards, Money Hunters.