The Best Cryptocurrency Wallets
Now that we’ve talked about exactly what cryptocurrency wallets are and how they work, we’ll share some of our favorites with you. All of these crypto wallets are well-known and used by thousands, which proves their safety and usefulness as much as any other factor. There is no “one wallet to rule them all”, but some or all of these wallets can serve you well in your cryptocurrency investment journey.
(multi-currency software “hot” wallet for crypto)
Jaxx wallet is a top-tier multi-currency crypto wallet used by people all around the world for several years. Jaxx wallet is free to use and goes well beyond the normal Bitcoin and Ethereum support. At present, Jaxx wallet can hold several dozen cryptocurrencies, including popular blockchain tokens like Dash, SALT, Qtum, DigixDao, and many more.
Jaxx wallet has a simple interface that’s easy to use, even if you don’t have much experience with crypto wallets. Jaxx makes it easy to send and receive cryptocurrencies of various types, and the wallet even allows you to trade supported currencies using ShapeShift exchange integration.
This last point is significant, because normally the only way to trade one cryptocurrency for another would be to send it to a centralized exchange like Binance, a process that’s time-consuming and somewhat risky. Keeping your coins safe in your wallet for the duration of the trade is a great feature that keeps people coming back to Jaxx.
There is an excellent Jaxx app for iOS and Android, with all of the same perks and benefits of the Jaxx desktop platform. Jaxx’s code is available for users and experts to audit, just to make sure that it’s secure. Jaxx has undergone a great deal of scrutiny this way, and still proves itself to be a reliable crypto storage solution, even though it was introduced all the way back in 2014 (a very long time in crypto-years).
(multi-currency software “hot” wallet for crypto)
Exodus wallet is also a multi-currency wallet. It’s a desktop only platform known for excellent design, intuitive functionality, and attractive aesthetics. In the opinion of this author, there is no crypto wallet easier to understand and use, especially for new investors.
Exodus wallet supports several dozen currencies, including a growing list of Ethereum-based (ERC20) tokens. These include high-market-cap projects like OmiseGo, Icon, Litecoin, Golem, and many more. With the exception of the ERC20 assets, all Exodus-supported tokens can be exchanged within the wallet, using built-in ShapeShift exchange integration.
Exodus has an excellent portfolio visualization window, where you can see all of your coins on a single page, with a simple pie chart breaking down how much of your portfolio is representing by each coin holding.
Exodus wallet also have good customer support and a vocal developer base. Community questions are answered promptly, and numerous bugs and glitches have been reported to Exodus, with quick fixes soon to follow. Security-wise, Exodus wallet holds your keys for you, as many users simply don’t want to deal with the hassle. However, these keys can also be exported for users who want to make sure they’re not in danger of losing their funds in some accident.
(online “hot” wallet for Bitcoin, Bitcoin Cash, and Ethereum)
Blochchain.info is more than just a wallet – it’s a wealth of data about the Bitcoin blockchain, and a great place to learn about or simply keep up with blockchain technology in general. It also happens to be a very solid digital wallet for Bitcoin, Bitcoin Cash, and Ethereum.
Blockchain.info has been around since 2011, an absolute eternity in cryptocurrency. Since then it has extended its reach to several million users, and has introduced an option to purchase Bitcoin straight from the wallet interface. In the coming months, Ethereum and Bitcoin Cash-buying options are supposed to be introduced as well.
Blockchain.info is an online wallet, so it’s inherently “hot”, as well as vulnerable to problems if improperly used. A number of users have reported loss of funds, and though this has raised the occasional outcry about problems with Blockchain.info, the more likely story is that many of these users lost their funds through accident or carelessness. Blockchain.info does not have very responsive customer service, however, which has compounded the frustration for some.
All of this may be beside the point as, for most people, Blockchain.info is a reliable wallet solution. Even so, we’d recommend that you not store your primary Bitcoin balance in blockchain.info, but instead just keep in it coins you are planning to soon trade or spend. For your long term holdings, there are a number of safer storage solutions.
Bitcoin Core Wallet
(Bitcoin blockchain node that also stores Bitcoin currency)
When you use Bitcoin Core to store your Bitcoin, you have more than a simple wallet on your hands. You’re also running a simple node, through which certain Bitcoin network traffic will be routed. Think of it as your way of giving back to Bitcoin, even if it’s just a little spare computational power or network bandwidth.
Bitcoin Coin is a great way to learn about the complexities of Bitcoin. Its primitive exterior speaks to its origins – back from the days of Satoshi Nakamoto him/her/them/it-self/selves. The aesthetics have not been upgraded significantly from these now-retro roots, but what lies beneath the hood has increased in size and sophistication over the years.
If you’re simply wanting a simple interface with which to keep track of your Bitcoin, other newer wallets are a better choice. But if you want not to simply spend Bitcoin but be a part of Bitcoin, Bitcoin Core is your go-to.
Ledger Nano S
(multi-currency hardware wallet, cold wallet)
Ledger Nano S is a hardware wallet solution for storing multiple cryptocurrencies. In appearance, it’s basically a USB stick with a screen. In function it’s a bit more complex. Coins are stored by downloading dedicated apps (the NEO Ledger App or the Ethereum Ledger App, for example). These apps allow users to store their keys on the Nano device itself, a pretty much painless process that even beginners can handle.
Hardware wallets like the Ledger Nano S may be the most convenient way to achieve solid long term storage security. Savvy users can accomplish the same level of security without paying the $80 or so for a new Nano S, but the Ledger has a sleekness and user-friendliness that we’ve come to associate with products from Apple. It’s a great experience to be able to open your crypto wallets with a button click on your Nano, rather than typing in long keys and passwords to your main device.
That said, the Ledger Nano S has not been without its hiccups. The Ledger Manager app is well known to be buggy and inconsistent in performance. The Ledger cannot maneuver seamlessly between desktop and browser without changing an internal setting each time. Furthermore, a recent vulnerability was discovered, prompting Ledger to release a hasty patch that caused many users to panic. Things seem to have settled down, and this writer’s Nano S works just fine, but it freaked some out.
In general, the Ledger Nano S does what it says on the tin without causing the user any headaches. But it’s not a seamless hardware solution yet, which one might expect from any nascent technology. We’re glad, though, that it only keeps improving, and expect good things to come.
(web wallet for Ethereum and ERC20 assets, hot wallet)
MyEtherWallet is an online wallet solution for Ethereum and all of the cryptocurrencies released on the Ethereum blockchain. At present, well more than a hundred ERC20 tokens are supported within MEW, all of which can be sent to a single user address. This is a great convenience, as maintaining individual wallets for a dozen or more coins can be a harrowing experience for even the most experienced traders.
MEW is a bit clunky to look at, but once you’ve used it for a day or two you’ll understand its unique charm. MEW isn’t entirely idiot-proof, as users are still required to set their own fees for transactions. Choose too low a price and your transaction might arrive days late. On the whole, though, this is a great way to use Ethereum and its related crypto, within a single interface, with added support for every new coin that’s introduced through Ethereum.