Published on December 17th, 2021
Mainstream institutions and investors are continuing to adopt bitcoin. However, there are numerous dissimilarities between investing in cryptocurrencies and investing in the stock market.
One of these dissimilarities is that one can store their cryptocurrency asset. You cannot do the same with a stock exchange, even outside the cryptocurrency exchange.
Cryptocurrency wallets are necessary to start cryptocurrency trading. Websites like
eKrona app can help you in learning cryptocurrency trading. Bitcoin wallets make storing cryptocurrency assets with security a piece of cake. There is an enormous list of bitcoin wallets; a few top-notch wallets are listed.
Exodus is dual as it is a dedicated cryptocurrency wallet and a cryptocurrency exchange simultaneously. You can buy an exodus bitcoin wallet for free of cost.
Moreover, an Exodus wallet offers you both cold and cloud storage simultaneously. Exodus cryptocurrency wallet’s advantages comprise a massive diversity of altcoins, a trustable exchange, and reliable customer care with instant response.
The only drawback of Exodus cryptocurrency wallet is that it operates on secure software. One can install an Exodus wallet on both a desktop and a smartphone.
Exodus permits you to trade in more than 100 cryptocurrencies. Exodus is classified as an appropriate wallet for the beginner as UI is soothing this exchange.
Unlike Exodus, Electrum is an open-source software cryptocurrency wallet. Electrum is also free of cost and simultaneously offers cloud and cold storage.
Electrum has been operating for a decade, and the customer base of electrum is enormous. The pros of electrum are that it is open-source, which means one can customize the transaction cost.
Electrum also allows users to choose customized security. For example, we all know seed phrase is a decisive aspect of cryptocurrency wallet, electrum has the feature to customize seed phrase as well. In short, electrum is appropriate for newbies and advanced cryptocurrency holders.
Like electrum and exodus, this is also a free wallet and offers cloud and cold storage features. Some pros of Mycelium include permission to alter the transaction cost, the feature of hardware, and open source.
However, Mycelium’s compatibility is only limited to android and iOS devices. Moreover, Mycelium has a chaotic user interface, and a beginner will take a considerable amount of time to understand the essential feature. As a result, Mycelium appeared in the market just after electrum.
Ledger Nano X
Ledger Nano X falls under the category of a hardware wallet, and the price of ledger Nano X is $119. Hardware wallets do not have internet connectivity. Since Ledger Nano X is a hardware wallet, there is no cloud storage feature.
It is an utterly secure wallet, but it also has some cons. First, the connection of this device with the computer via Bluetooth is quite vulnerable.
Therefore, one should always prefer USB over Bluetooth. Second, Bluetooth connectivity is not as good as USB.
Third, the cryptocurrency wallet has restricted space.
Both Trezor and Ledger Nano X are hardware wallets. However, the cost of Trezor is almost double as of the ledger Nano X.
You can buy a Trezor hardware wallet for almost $200. As per experts, Trezor is the only hardware wallet that is not hacked a single time.
Trezor is the only hardware that has an inbuilt trustable exchange. Trezor does not allow you to store only BTCs and other altcoins.
The only drawback of the Trezor wallet is its higher price and less space for accommodation. On the other hand, you can access popular cryptocurrency exchanges like Coinbase.
Trezor is not a conventional hardware cryptocurrency wallet as it has a touch screen for opening different apps.
Trezor is immune to malware and other theft elements.
Ledger Nano S!
Ledger Nano is the cheapest hardware wallet to exist. The cost of the ledger Nano is just $69. Cryptocurrency holders from developing countries can also afford this hardware wallet.
However, there is no cloud storage and only cold storage since it is hardware.
Advantages of using Ledger Nano S compared to any other cryptocurrency wallets are its lower cost and open-source software.
However, the disadvantage of using this hardware wallet is that it is devoid of Bluetooth connectivity.
The list of bitcoin wallets goes on; there are tons of cloud wallets. Above mentioned are some easy to use and affordable cryptocurrency wallets.
Except, ledger Nano S, ledger Nano x and Trezor, every wallet falls under the category of a hot wallet.