Since the Bitcoin revolution of 2009, the term cryptocurrency is often used interchangeably with Bitcoin. Although cryptocurrencies are considered highly volatile, their demand only seems to explode over the years. As the values keep climbing, the public might be interested in owning a few, especially since one Bitcoin is probably worth a few thousand dollars!
In order to store your Bitcoin or any cryptocurrency for that matter, you’ll need a specialized storage compartment called a cryptocurrency wallet. These wallets offer a ton of features, including added safety and faster transactions, among others. With that in mind, here’s our list of the
Top 5 Crypto Wallets in 2020
1. Exodus – The perfect companion for beginner investors, Exodus is a free Hot Wallet featuring a simple user interface with a built-in exchange feature. One of its primary perks is the ability to swap between 100 odd cryptocurrencies currently in existence. The support team is another highlight since Exodus claims to be amateur-friendly. The only downside is the wallet doesn’t give customers a chance to set priority levels or custom transaction fees.
2. Mycelium – A little more advanced wallet ideal for mobile users, Mycelium is an open-source Bitcoin wallet that uses a refreshing user interface. Like Exodus, the wallet features built-in exchange, and users can set custom transaction fees, allowing you to select how long you’re willing to wait for a transaction to complete. Its drawbacks include the lack of cryptocurrency options except for Bitcoin and the advanced user interface, which could be difficult for the first-timers.
3. Trezor Model T – The second-generation Cold Wallet is like most conventional physical wallets but features the ability to access third-party exchange software directly from the built-in website interface. This promises to make your life a lot easier and justifies the $170 price tag. The Model T’s touch screen is a boon for first-time users and also features a MicroSD slot to encrypt the PIN, enabling an additional layer of security.
4. Ledger – The second-generation Ledger Nano X is one of the latest marvels from the French technology giants who have been dabbling in the cryptocurrency space since the early days. Needless to say, their experience is quite visible in the Nano X, which is among the best Cold Wallets in the market today. The wallet supports up to 1,500 cryptocurrencies, and the list is ever-growing. Users don’t need to connect to a PC to access their accounts as Nano X is compatible with iOS and Android-powered devices.
5. Electrum – One of the original Bitcoin wallets to ever make it to the market, Electrum has evolved ever since. While still a bit bare-boned compared to its rivals, the Bitcoin-only crypto wallet is suited for more advanced usage than Exodus. The open-source wallet enables custom transaction fees and allows users to set the level of security they’re comfortable with. The lack of any customer support is a turnoff. But what else can you expect from a free wallet!
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