5 Ideas for Safe Crypto Wallets

3 min reading
portfel na Bitcoiny

Cryptocurrency wallets are used to store, send and receive digital currencies. The safest solution is to have a hardware wallet - if you own larger amounts of assets you should store them here. However, many mobile wallets also have a high level of security and provide users with additional options. Below there are five wallets that are worth being considered.

Trustworthy Trust Wallet

Trust Wallet is a mobile application that supports all tokens based on Ethereum. It allows users to store private keys on their own devices, which is an important security feature. Thanks to the cooperation with the Kyber Network and the Web3 browser, the platform provides a trouble-free and safe exploration of decentralized applications (DApps). In addition, Android users can use the platform to buy ETH via Coinbase, Shapeshift or Changelly. Moreover, that wallet is completely free. It can be downloaded from Google Play and the App Store. Download and installation do not require any personal data, however, the wallet has two disadvantages. It does not store Bitcoins or other cryptocurrencies that do not belong to the Ethereum network. In addition, the platform does not provide two-factor authentication, which would increase security even further.

ImToken combines many wallets

ImToken is a mobile wallet which can be installed on the phone as a regular application. It is available for free at Google Play and App Store. Due to its simplicity, it is highly recommended for crypto newbies. ImToken simplifies transactions and wallet management, enabling users to import wallets that support ETH, EOS and BTC, and manage all of them inside ImToken. It also allows users to create backups with just one click. However, the wallet is not available as open-source software, so users do not have full control over the system's operability. In addition, like the Trust Wallet, it does not provide two-factor authentication.
XcelPay for consumers and traders  
XcelPay is an integrated cryptographic wallet as well as a payment solution. It is an application that allows users to conduct transactions using various cryptocurrencies, including XcelToken, Bitcoin, Ethereum, and many, many more tokens based on the ERC-20 standard. In addition, it automatically converts currencies using the latest cryptocurrency exchange rates. This wallet is a solution for both individual customers and commercial payments - it allows consumers to store, send and receive cryptocurrencies from all around the world. Companies, on the other hand, are able to make payments both online and offline. The XcelPay application is available for free on Android and iOS devices.
Full control over the private key from MyEtherWallet 
MyEtherWallet (MEW) is one of the most popular web wallets. It is a free, open software focused on the Ethereum platform. MEW is not a standard internet wallet. From a technical point of view, it does not directly store the cryptocurrencies, it only gives the address to which users can receive currency. Thanks to this, although it is an online wallet, it does not store any data on the servers and therefore provides the user with full control over the private key. In addition, MEW offers support for all major hardware wallets, including Ledger and Trezor. It also has its own application, which provides a secure service in the form of a hardware wallet on smartphones with Android and iOS. However, like the Trust Wallet, MEW does not support other cryptocurrencies except ETH and ERC-20, which is a significant downside. In addition, unlike most online wallets, MEW does not provide access to cryptocurrency exchanges.
MetaMask for many browsers
MetaMask is an online wallet for cryptocurrencies storage based on the Ethereum network. The wallet has several extensions for different browsers - Chrome, Firefox, Opera and Brave. Thanks to the extensions, it connects the browser to the Ethereum blockchain. The wallet has gained popularity because it not only stores digital coins but also allows users to interact with smart contracts and decentralized applications without using the full Ethereum hub. One of the Ethereum DApps is the above-mentioned MyEtherWallet. In the case of MetaMask, the issue of privacy has to be mentioned. The wallet does not store user data, but the browser does. Most of them, such as Chrome, collect information about the user, which can significantly affect privacy.