Various factors influence the decision regarding the choice of how to store cryptocurrencies. Security, supported blockchains and cryptocurrencies, and use cases are consistently among the most important. For some users, the price of a wallet or the convenience of using it is critical.
Depending on the features of connecting to the Internet, cold and hot storages are distinguished. Typical cold wallets include hardware wallets, standalone physical devices that connect to the network sporadically and for a short time. Their complete opposite is hot storage on cryptocurrency exchanges or specialized cloud services.
From a cybersecurity point of view, hardware devices are much more preferable. Your coins are securely protected from remote threats. Hot wallets are more vulnerable, but at the same time, they are much more convenient for trading.
Software desktop storage sits in between hot and cold storage options. They are even sometimes called warm. As long as your computer is connected to the network, the wallet can function as hot. As soon as you turn off your device, the storage will become cold. Importantly, software wallets are distributed free of charge and this is often the decisive factor in the choice.
How convenient is it for you to use your wallet
First of all, you need to consider the interface of the program. Some are designed for quite experienced users, some, on the contrary, for beginners. To begin with, it is better to choose a simpler program, but as you gain experience, no one forbids using others.
Receiving, sending, buying, selling and storing digital assets are the basic functions of any crypto wallet. But if you plan to store your cryptocurrency for a long time, you should consider cold storage. Conversely, if you use Web 3.0 applications a lot, you might be better off looking at a hot wallet.
There are monocurrency and multicurrency vaults. The choice in favor of this or that storage is directly determined by the assets you are interested in. When looking at 1INCH price prediction for possible portfolio expansion, make sure the wallet supports the coins you plan to buy.
The best desktop wallets
Exodus has desktop and mobile versions, and can be integrated with Trezor devices if necessary. It supports over 200 coins and tokens. In addition to basic functions, staking is available, as well as several ways to buy cryptocurrency for fiat money. The interface is well thought out and intuitive.
Guarda is a universal multi-currency crypto wallet. In addition to the desktop version, a mobile application and a browser extension are available. If necessary, it can be integrated with Ledger devices. The creators claim that Guarda supports over 400,000 crypto assets. In addition to the main functions, the possibility of staking and interaction with DeFi is implemented.
Atomic Wallet supports over 400 cryptocurrencies, staking and interacting with DeFi. However, integration with cold storage and a browser version are not provided. Atomic Wallet is compatible with almost all operating systems, including relatively rare ones: Fedora, Debian, Ubuntu.
In the list of coins supported by Jaxx, in addition to popular cryptocurrencies, there are many rare and little-known altcoins. A big plus in favor of this wallet is its cross-platform, and different versions on your devices are easily synchronized. Operations with fiat currencies are not supported, but you can set the display of the balance in the currency of your country. Jaxx has a built-in ShapeShift exchanger and you do not have to go to a crypto exchange to convert digital coins. If you have doubts ETC price prediction 2030 and you decide to exclude a coin from your investment portfolio, you can exchange it for a more attractive asset right in your wallet.
Coinbase Wallet was created by the team of the largest American crypto exchange Coinbase. However, it functions independently of the parent company and can be downloaded and used regardless of your relationship with the exchange. It easily integrates with the Coinbase service, cold wallets and connects to decentralized applications. There is no exact data on the number of supported coins, the developers themselves formulate the answer vaguely: hundreds of thousands.
One of the oldest open source desktop crypto wallets with the ability to integrate with hardware storages. It can hardly be recommended for beginners as it is comparatively difficult to use. Electrum only supports Bitcoin.