Known as Wallets, These wallets are a fundamental piece to be able to carry out transactions with your cryptocurrencies. Without them, you basically could not see your balance or receive your new cryptocurrencies, much less make a transfer of funds or pay for a purchase, for example.
That is why here we will talk about the 10 best Wallets for cryptocurrencies available in the market. In addition, we will give you some tips and tricks that will help you choose the best options so that you can make the most of all its benefits. So, you better keep reading this.
Top 10 Best Wallets 2020
- Exodus: Available for both Android and IOS in app and with web page for your computer, Exodus It is considered among the best Wallets for cryptocurrencies. Here you can trade a large number of digital currencies Bitcoin and Bitcoin Cash, Ethereum, Ethereum Classic, EOS, among others.
- Coinomi: With a simple and friendly interface, this Wallet is a great option if what you are looking for is a system that is very easy on the internet. Multi currencies, This option allows you to manage all types of cryptocurrencies in one place. In addition, it has a mobile application to use it on your mobile devices.
- Engine: While this Wallet is only available in digital version, since it only has web and app support. Here we can find only 3 cryptocurrencies to operate, although these are the most popular, Bitcoin, Ethereum and Litecoin, which limits their benefits a bit.
- Jax: En Jaxx we can operate with almost all cryptocurrencies on the market, since it is compatible with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and Dash, which makes it one of the most complete wallets on the market. Of course, it is only available in app, Hardware and downloadable, not in web version.
- Binance: Available only in mobile application for both Android and IOS, as well as on the Web, this option offers the possibility of trading with all digital currencies. That is, we can use it with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash and with Ripple, something little seen.
- Infinite Wallet: This Wallet It operates with 6 different cryptocurrencies which gives us a good range of options to operate. The main disadvantage of this Wallet is the fact that you can only use it by mobile application, although the good thing is that they have Android and IOS support.
- trezor: If what you are looking for is a wallet that is complete, without a doubt this wallet for cryptocurrencies is a good option. Here you have a support for App IOS and Android, Hardware and downloadable. What's more, you can trade all cryptocurrencies, that is, it is compatible with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash and with Ripple.
- Ledger: This wallet has the characteristic that it operates, like the previous one, with all cryptocurrencies, that is, with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash and with Ripple. Similarly, it is similar in its cross-platform design, since it is only not compatible with the web.
- Coinbase: Following the same line of multi-currency wallets, here we find a wallet compatible with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash and with Ripple. Yes indeed, It only has support available for both the web and the IOS and Android app.
- Blockchain: It is ironic that a wallet has the same name as the system through which cryptocurrencies operate. In this Wallet we find the possibility of managing only 3 currencies, Bitcoin, Bitcoin Cash and Ethereum, this through an app for Android and IOS, as well as through its website.
Multipurpose purses vs a single currency, which one wins?
It is normal that we wonder which is the best wallet when choosing one. That is why here we gave ourselves the task of telling you about the 3 main differences. In this way, choosing the best one will be much easier.
- Currency support: A wallet that operates with a single cryptocurrency will not be able to accept any other, that is, if the Bitcoin Wallets only accept Bitcoin, not Ethereum or Litecoin. Instead, multi-currency wallets allow you to trade with different types of cryptocurrencies which makes its operation easier.
- Currency exchange: Another clear difference is in the so-called currency exchange function. And is that a multi-currency wallet allows you to change between different cryptocurrencies. So, for example, you can use one to convert it to the other which helps to improve your investments.
- Capacity: As if that were not enough, the Multi-currency Wallets are designed to have a greater capacity to store them. This is because, being compatible with different types of virtual currencies, it must have more space to store them as it does not happen with single wallets.
Advantages of using Wallets for cryptocurrencies
Using a Wallet for your currencies gives you advantages such as:
- To be able to check your balance whenever you want: Many times we do not know what our balance is in cryptocurrencies, since these vary in value almost daily. A purse allows you to know exactly what the value of your coins or your balance is, as if it were traditional money.
- Transactions between currencies: If you have Ethereum, for example, and you want to convert them into Litecoins or Bitcoin, this is possible thanks to wallets. Its currency exchange function allows you to switch from one cryptocurrency to another easily.
- Shipping and transactions: Another great reason to have an electronic wallet with your cryptocurrencies is that this allows you to make different movements easily. You can send balance, for example, or make transfers which is very useful when investing in cryptocurrencies. Some also allow you to make transactions like purchases if you have a card linked.
- They are easy and safe to use: Also, you should know that the wallets are as safe as any other conventional digital wallet. Using them is very simple, since they look like a bank app, without much science or complicated processes.
Financial analyst and economist with a master's degree in finance.