• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Important Points to Keep in Mind When Choosing a Cryptocurrency Wallet
Nexo

Important Points to Keep in Mind When Choosing a Cryptocurrency Wallet

Bitcoinist by Bitcoinist
4 years ago
in News, Bitcoin Wallet, Companies, NAGA, News teaser
0
Advertisement

The choice of which cryptocurrency wallet to use is arguably one of the most important decisions for anyone interested in cryptocurrency. Like almost any other storage system, the choice of a wallet usually involves some form of trade-off between security and ease-of-use.


Security Considerations

Top on the list of priorities when choosing a cryptocurrency wallet is the security features on show. Virtual currencies have in recent times become the target of many cybercriminals. Many notable cryptocurrency exchange platforms have suffered hacks resulting in the theft of digital coins running into billions of dollars.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

2018 began with the high-profile Coincheck attack which saw hackers carting away more than $500 million in NEM tokens. In June 2018 alone, two South Korean-based platforms – Coinrail and Bithumb – also suffered hacking attacks. In all of these cases, the attackers were able to steal funds from the platform’s so-called ‘hot wallets’ (online wallets).

With this in mind, it is evident that any wallet choice must be one that places a high premium on security. To this end, factors such as two-factor authentication (2FA) and multi-signature (multi-sig protocol) are vitally important when settling on a wallet choice.

2FA and multi-sig are additional security layers that offer enhanced protection to your valuable cryptocurrency tokens stored in the wallet. 2FA employs a second security code in addition to the usual pin/password. Multi-sig enables the set up of additional permission from a trusted party before any transaction is approved on your wallet.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Ease of Use

Optimized UI and the ability to store multiple coins contributes significantly to the ease of use of a cryptocurrency wallet. The perfect wallet should have easy to use features with clearly labeled “buy” and “sell” tabs. With virtual currency transactions being immutable, your wallet shouldn’t be the reason for a mistake when sending or receiving coins.

There are subtle differences between the wallet needs of traders and long-term holders. While the former will appreciate features like email buying and selling, traders might favor features like a built-in exchange and real-time price info.

Five of the Top Cryptocurrency Wallets of 2018

With these factors in mind, here are five of the top cryptocurrency wallets of 2018.

Naga WALLET

NAGA WALLET is the best of the lot, boasting a premium UI and easy to use features such as the email buying/sending of cryptocurrencies. NAGA WALLET also leads the way in multi-coin compatibility as it supports all major cryptocurrencies as well as more than 1,200 tokens.

Both traders and long-term holders alike will find the NAGA WALLET to be full of the right user features. Some of these include instant transactions, real-time token price info, an ICO hub, built-in exchange, etc.

Ledger Nano S

With the tremendous risk attached to many online wallets, hardware wallets are a favorite among many crypto enthusiasts looking for safe storage options. The Ledger Nano S is arguably the top hardware wallet on the market.

It has a built-in display eliminating the need for a computer. It also features multi-coin support, PIN code lock, and backup/restoration capability. One downside to the Ledger Nano S is that it is a bit on the pricey side.

Exodus

Exodus has a rich UI with an eye-catching design, but this wallet isn’t all about show as it boasts some useful features. Despite having a premium service, its free service still has almost the same functionalities as the paid premium.

Some of its core features include one-click exchange and multi-coin support. Though users create their wallets online, all pertinent information relating to the wallet is domiciled in the user’s computer.

Jaxx

Jaxx transcends cryptocurrency storage in that it can be used as a wallet for any digital asset. It is one of the leading mobile-based wallets on the market, though Jaxx is still compatible with OS like Windows and Linux.

Just like Exodus, all wallet details are domiciled in the local host device, far away from hackers. Other useful features include its hassle-free wallet creation process as well as storage versatility.

Electrum

Electrum is one of the most trusted software cryptocurrency wallets. Electrum is available on Android, Windows and Linux OS. It is fast and lightweight with premium security features such as 2FA and encrypted keys.

Two downsides to Electrum is that the UI can be a tad confusing for newbies, and it only stores Bitcoin.

What do you think about the factors that should be considered when choosing a cryptocurrency wallet? Do you agree that NAGA WALLET is the best of the lot? Please let us know in the comment section below!


Images courtesy of NAGA WALLET.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

Legal Experts Reveal Regulatory Uncertainty Around Crypto Could Spike Lawsuits

Legal Experts Reveal Regulatory Uncertainty Around Crypto Could Spike Lawsuits

1 day ago
Cryptoqueen

‘Cryptoqueen’ Has A $100,000 Bounty On Her Head Offered By The FBI

3 days ago
Three Arrows

Three Arrows Capital Gets Notice Of Default On $660 Million Voyager Loan

6 days ago
Morgan Creek

Morgan Creek Said To Be In Bid To Secure $250-M To Counter FTX BlockFi Bailout

6 days ago
Harmony

Harmony Dangles $1M Reward For Return Of $100M Stolen Funds – Is It Enough?

7 days ago
Cryptocurrency Firm Babel Finance Strikes Debt Agreement With Counterparties

Cryptocurrency Firm Babel Finance Strikes Debt Agreement With Counterparties

1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.