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Highlights
- A cryptocurrency wallet is a device, physical medium that allows the users to store and retrieve their digital assets like Bitcoin, Ethereum, Cardano etc
- As of March 2021, there are more than 70 million blockchain wallet users
A cryptocurrency wallet is a device, physical medium that allows the users to store and retrieve their digital assets like Bitcoin, Ethereum, Cardano etc. They come in many forms, like a USB stick, to mobile apps, from where the user can use them to make crypto transactions. As cryptocurrencies are a decentralised form of currency, card wallets tracks and manages, makes it easy to interact within the cryptocurrency market.
There are two types of crypto wallets: hardware wallets and software wallets. Hardware wallets is a service-based wallet that is accessible through exchanges. Software wallets are those that clients or users manage through a mobile or a computer.
As of March 2021, there are more than 70 million blockchain wallet users, with Bitcoin leading the pack. We look at the top 5 crypto wallets of 2021, which have been popular amongst users.
eToro Wallet
The eToro wallet is ideal for investors as it starts with a minimum investment of US $25. With the eToro wallets accept 15 deposit currencies like Bitcoin, Cardano, Solana Ethereum etc. It provides investors with a comprehensive trading experience through its robust platform. As part of the eToro platform, it is well regulated and has superior security. Its easy-to-use interface makes it easier for the starter to ease through the system and adapt it quickly. With more than 20 million already on the platform, it supports debit/credit cards, e-wallets, and local bank transfers for a top-up.
Coinbase Wallet
Coinbase exchange is one of the largest platforms where one can buy or sell cryptocurrencies securely. It has more than 56 million accounts worldwide, and it's easy to use as a wallet app that allows one to do transactions on the go. Due to its ease of use, Coinbase allows easy syncing with bank accounts and trade in multiple pools. Its regular checking ensures that security measures are always kept in place and reduce hackers' hacking into the account.
Coinbase wallet supports tokens such as Bitcoin, Ethereum, Dogecoin, and many more. However, one will also have to keep in mind that 1.49% of the trading commission will be charged while coming on the platform.
Gemini Wallet
Founded by Tyler and Cameron Winklevoss in 2014, Gemini is a security-first platform to buy and sell cryptocurrencies. Gemini is well-regulated but is also among few available in all 50 or more countries around the world. One has the luxury of trading in more than 30 cryptocurrencies, with a trading fee of just US $0.99 to US $2.99.
Gemini offers its users two different types of wallets, both of which supports all the listed assets. Whenever a new cryptocurrency is added to the exchange, it pings its users and allows them to trade in the new cryptocurrency. The wallet is backed by the support of SegWit and now offers native SegWit addresses.
Crypto.com wallet
Crypto.com was primarily a marketplace where one could trade in more than 100 of the most popular altcoins. It has more than 10 million users and is accepted in more than 90 countries globally. Users feel safe as their cryptos are kept in cold storage, while the hot wallets ensure fast transaction speeds. With the Crypto.com app, one can also earn interest ad it allows staking of the stablecoins. Its wallet is driven and managed by the users to ensure the user has complete control of the account. Adding the DeFi wallet to the app gives the users access to a diverse range of financial services, Defi token exchanges.
Electrum wallet
Electrum is a flexible bitcoin wallet that allows the user to get complete command of their bitcoins. Because of its easy-to-use features, the Electrum wallet has gained prominence amongst users. One has the option to break bitcoins into several wallets and can be utilised to buy different currencies.
