All cryptocurrency wallet´s-Comparision!
Hello my fellow steemians. Today i wanted to do an quick comparision on where to park your cryptocurrencys.
Coins are stored on crypto-wallets. They are similar to bank accounts. Thats where you keep your funds, spend and receive your coins.
There are different type of wallets:
Hardware wallets – most secure
Desktop wallets – good security
Hot wallets – average security
Each one of them is different and has different pro´s and con´s.
WALLET COMPARISION:
PAPER WALLETS
Paper wallet is the most secure way of storing cryptocurrencys. A paper wallet is a document that contains copies of the public and private keys that make up a wallet. You can make as many copies as you like and store them in safe location. Not hackable but highly inconvinient to use!
They are primarly used for long term investments and to store large amounts of coins.
Pros: Best Security
Cons: impractical when used regularly
HARDWARE WALLETS
Similar as paper wallets, hardware wallets are the most secure way of storing your coins because they are disconected from the internet.
They are hardware devices that you use to put your private keys on and lock away somewhere secure.
They are popular when it comes to storing large amounts of coins for the safety reasons.
Here are my 3 favourite hardware wallets:
1. NANO LEDGER S
On the Nano ledger s you can store your Bitcoins, Etherum and other Altcoins. It is extremely safe and has good support. The cheapest Ledger goes for 69€. The Company is from france.
Pros: maximum security, altcoin support, excellent customer support, easy to use
Cons: no free substitutes
2. TREZOR HARDWARE WALLET
Trezor Hardware Wallet is my second best hardware wallet choice. It serves the same purpose as the Leder S. Only difference is Design, which looks pretty cool in my opinion. The Trezor goes for about 89€.
Pros: maximum security, altcoin support, easy to use
Cons: more expensive than Nano S
3. KEEPKEY HARDWARE WALLET
Last but not least is the Keepkey Hardware Wallet. Its an desiger hardware Wallet that stores Bitcoins, Etherum and alot of altcoins. It has an futuristic look and maximum security and comes at a price of 99$.
Pros: Perfect security, many altcoins supported, futuristic design
Cons: cheapest option is more expensive than my other 2 hardware wallets
DESKTOP WALLETS
Desktop Wallets are besides Paper and Hardware wallets the next most secure wallet. The security of this wallet is as good as the security of you desktop. A good antivirus and a firewall is an priority when you use this wallet.
It is basicly an wallet which is operated from your pc.
I personally can reocomend Exodus Wallet.
It stores Bitcoin, Ether and many altcoins. All of the coins can be exchanged to other digital currencys within the wallet! I’ is very secure because you do not host your private keys anywhere else but your computer.
Some other Desktop Wallets are:
-Coinbase Wallet(+: altcoin support, easy to use ; - : slow customer support)
-Jaxx Wallet (+ : altcoin support, easy to use; - :least secure desktop wallet)
HOT WALLETS
Hot wallet are basically a Bitcoin or other cryptocurrency wallets that are online and connected in some way to the Internet. You have these on different exchanges or websites. These are the least secure because the websites can be hacked and thus your cryptocurrency´s stolen. You should not park alot of coins on these for an long time!
This post received a 2.9% upvote from @randowhale thanks to @paultradingcrpto! For more information, click here!
I really liked this post of your. It was very informative thank you....Say will you be doing anything on Bitcoin Visa cards in the near future by chance. I been trying to learn about these for a while now. Thank you in advance.
great post, too many people are not securing their crypto properly and are just confused on how to do it.
Great post, for long terms, or even higher amounts I would use paper wallets for sure.
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