What Is a Cryptocurrency Wallet? Top 4 Most Secure Crypto Wallets in the US
Cryptocurrencies have gained much popularity over the decade. Today, they have become popular investment options for tech-savvy families. If you are among those people who are looking forward to investing in cryptocurrency or are already actively trading in crypto, then you have come to the right place. In this article, I have discussed cryptocurrency wallets and the list of the top four most secure cryptocurrency wallets.
SIM Swap Protection
Get our SAFE plan for guaranteed SIM swap protection.
What is Cryptocurrency?
Cryptocurrency advocates say digital currencies (cryptocurrencies) are more convenient, secure, and covert than conventional currencies. Due to their restricted availability, cryptocurrencies have caught many people's attention as an investment option. The commonly used PayPal phone application now has a cryptocurrency wallet allowing users to purchase, sell, and store bitcoins. However, considering their trend in the last 5 years, cryptocurrency is still a high-risk investment.
What is Cryptocurrency Wallet?
A cryptocurrency wallet is a hardware device, a website, or an application that keeps cryptocurrency private and public keys. It usually includes the ability to encrypt and sign information and the fundamental function of saving keys.
These wallets hold several private keys for cryptocurrencies. The wallet is usually password-protected or otherwise secured to prevent unauthorized access. Unlike blockchain technology, which is shared and distributed, a cryptocurrency wallet is held entirely by its owners.
Why You Need A Secure Crypto Wallet?
According to Crypto Presales,
"Hackers have stolen at least $ 8.9 billion in crypto heists"
The massive demand for cryptocurrency has come with many security challenges. There have been hundreds of past cyber crimes involving cryptocurrencies, which are only growing with time. Today, cybercriminals are after every crypto exchange and every digital currency wallet. Choosing a safe crypto wallet will enable you to manage the private encryption keys needed to access a specific address and conduct a transaction.
SIM Swap Protection
Get our SAFE plan for guaranteed SIM swap protection.
Top 4 Most Secure Cryptocurrency Wallets in the US
Here is the list of the 4 most secure cryptocurrency wallets.
Coinbase (Best Cryptocurrency Wallet Overall)
The no. 1 cryptocurrency wallet on our list is Coinbase. It is among the most user-friendly platforms for buying, selling, and storing cryptocurrencies. You can move cash in and out of your Coinbase trading and investing account by connecting a United State bank account with Coinbase. A separate Coinbase Wallet for smartphones is also available.
This virtual currency digital exchange and wallet is ideal for those just beginning their crypto trading. Selling and buying become easy and secure through a brokerage account. Over 100 tradable cryptocurrencies are available through Coinbase trading accounts, including the dollar-pegged Coinbase USD Coin. Some coins can even earn interest.
Coinbase Earn is a fantastic tool that rewards you with free cryptocurrency for watching tutorials and taking quizzes. You can also access its paid version, Coinbase Pro, a full-featured active trading service with API support, a high-end interface, and a fee structure.
You must consider the costs and fees if you use Coinbase. They differ based on the transaction size and how to complete it. In addition, while outages are unfamiliar, Coinbase has had disruptions that prevented users from buying or selling crypto.
Trezor (Best Cryptocurrency Hardware Wallet for Security)
Another name on our list of the most secure cryptocurrency wallets is Trezor One. It is a protected tool that handles over 1.5K digital currency and has multi-factor authentication. The Model T is more costly but allows more coins and has an exceptional interface, screen, and other features.
Trezor is a portable wallet that allows you to keep your digital currency offline. It connects to your smartphone or computer through USB. You can utilize the smartphone's tiny screen to maintain your secure connection. The Trezor One is available for $69, while the Trezor Model T is available for $269 only.
Remember that you may lose your Bitcoins forever by losing your Trezor or recovery info (password, recovery seed, and PIN). Only opt for this wallet if you can always take responsibility for keeping it safe and secure. Also, write down the password and other necessary details to minimize the chances of losing access to your wallet forever.
Exodus (Best for Desktop)
The third most secure cryptocurrency wallet on our list is Exodus. It is a digital wallet that runs on your computer's desktop or laptop. There is also a smartphone application version available. This virtual wallet's user-friendly UI gives you access to various investor-focused products.
The computer wallet with Trezor wallets transforms your virtual currency, such as Bitcoin and others, into a portfolio with charts and graphs. You may trade and keep coins on your computer or via the application. It also allows over 100 different digital materials. The most recent enhancements are compatibility with FTX, non-fungible tokens (NFTS), and Exodus Bitcoin Lightening.
Because there is no account configuration, your wallet, and currency are personal. Exodus provides an encryption key to manage your bitcoins and other security features to keep your funds safe. However, remember that your encrypted key saves in your system. Make a copy of the key to protect its safety if your device crashes or stoles.
Ledger (Best Hardware Wallet for Durability)
Ledger is the last (certainly not the least) name on our list of the best cryptocurrency wallets in the US. Ledger Nano-S and Ledger Nano-X are hardware wallets that store cryptocurrencies on a system that does not connect to the internet. Ledger devices, about the size of a USB drive, link to your computer or phone to access and store your virtual currencies. A stainless metal shell protects the device, making it highly durable.
You may view your balance and receive and send cryptocurrencies with the integrated Ledger Live application. With over 1,800 tokens and digital coins supported by Ledger, you do not confine yourself to Bitcoin. Ledger Live also endorsed Coin staking, allowing you to earn rewards depending on your balance.
The base Ledger Nano S costs $59, while the Bluetooth-enabled Nano X costs $149. The Nano S can store up to 3 apps simultaneously, whereas the Nano X can hold up to 100. Certain currencies, as well as other reasons, may necessitate the usage of applications. Therefore, you may only be allowed to simultaneously use some available coins on the same computer. Both use highly secure chips that are identical to those seen in chip-based credit cards and passports.
A crypto wallet is the best way to keep your crypto secure and store your private/public keys. It helps in easy access to your crypto while maintaining its security. It also allows you to receive, send, and spend cryptocurrencies hassle-free. The 4 most secure cryptocurrency wallets I have listed above will help you keep your crypto investment secure. If you want to learn more about the types of crypto wallets, the best cryptocurrency wallets in 2023, and what makes them the best,read this blog.