By Steve Burnett
Are you a beginner entering the crypto space for the first time? It can be confusing choosing the wallet to use for holding your crypto assets. or trading This is because there are tons of wallets out there, each with its unique features, but we’ll help you choose the one that best suits you.
No wallet is good or bad on its own, but the one you use depends on what your goals are. If you wish to use a wallet on a decentralized exchange,, you pick one that can connect to a decentralized exchange, aka a DeFi wallet. If you need a wallet for saving your portfolio offline, your choice will be different.
With that in mind, the following are the best four crypto wallets to use for any purpose. There are many others, but they all fall under the broad categories of these four.
Metamask
If you use the Ethereum blockchain a lot and you interact with decentralized applications (dapps), you’ll find Metamask useful. Being an extension browser, you don’t need to download it as an app to your computer. You simply add it to your browser and can connect it to any decentralized platform.
Metamask currently supports Binance Smart Chain (BSC) as well, and supports all the tokens on the platform in addition to Ethereum. You can also add non-fungible tokens (NFTs) to the platform and trade them as you wish.
There’s the mobile version of Metamask, which comes as an app. You can synchronize your activities between the app and the browser extention to make your trading seamless. Anyone can follow simple instructions to install and use Metamask.
Also read:Ledger Nano S
You have heard of cold or offline wallets? Ledger Nano S is one of the top ones in the space. If your goal is to securely hold your crypto portfolio offline, Ledger Nano S is the wallet you should use. It supports many top cryptocurrencies and is compatible with many software wallets such as Metamask.
This means you can easily connect the hardware to your wallet and use it seamlessly before taking it offline again. The hardware is about the size of a flash drive, and you can carry it around comfortably.
The advantage of cold wallets such as Ledger Nano S is that they are offline, so no hacker can reach it to steal your funds. This is the ultimate protection you can give to your portfolio.
Exodus
Exodus has become popular recently with its ever evolving wallet. The wallet supports a large majority of cryptocurrencies across blockchains. Chances are whatever asset you’re looking for is available on Exodus. It supports hardware wallets like Ledger, and also supports NFTs.
The wallet keeps evolving new features that make it stand out and if you’re looking for a non-DeFi wallet, this is a good option to consider. It has both desktop and mobile versions, so you can manage your portfolio on the go.
Electrum
There are crypto investors who have no confidence in altcoins, so they stick with only Bitcoin. If you are one of them, you need a Bitcoin only wallet. If that’s the case, Electrum is your partner. It is one of the oldest wallets built to support only Bitcoin.
Electrum security is superb, evident by the fact that it has never been compromised. There are unique features you’ll only see in this wallet, such as the replace by fee (RBF) feature. The RBF allows you to increase Bitcoin transaction fees should your transactions get stuck due to low fees.
It also has a very simple and plain user interface with little graphics, so it is easy to figure out. It may seem a little intimidating at first, but you’ll get used to it quickly and can use it well in no time.
Conclusion
And that’s a wrap! Whatever your goals are with crypto, you will find one of these wallets perfectly fitting for you, and the best part is that anyone can use them.
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