Anyone who owns or becomes the owner of crypto currencies such as Bitcoin and Ethereum wants to keep their crypto money safe in a (digital) wallet. These are called cryptocurrency wallets. Often there are already several wallets available for a single cryptocurrency, but which one is most suitable for you?
Cryptocurrency wallets can be divided into 3 types:
The preservation of cryptocurrencies in a hardware wallet is by far the safest method.
Hardware wallets are special devices that securely store the secret key needed to authorize a transaction on the device itself.
Due to the advanced security measures that a hardware cryptocurrency wallet brings with it, it is practically impossible that your Bitcoins or Altcoins can still be stolen. Moreover, unlike a software wallet on a computer, a hardware wallet is not vulnerable to viruses and malware.
Best Hardware Cryptocurrency Wallet
Firstly w’re going to look at the most popular Hardware wallets available for your coins.
Ledger Nano S
The multi-crypto hardware wallet from Ledger Nano S is one of the best, most comprehensive and most secure cryptocurrency wallets available today. Advanced cryptographic security ensures the security of your assets in digital currencies.
Ledger’s cryptocurrency hardware wallet supports various cryptocurrencies such as BTC, ETH, DOGE, DASH, STRAT, XRP. The Ledger development team is constantly working on new innovations and therefore we’re sure that future popular crypto systems will also be supported by the Nano S. In addition to strong security for cryptocurrency transactions, the Ledger Nano S also supports FIDO U2F: this is a technique that allows the Ledger Nano S to be used to protect access to (web) applications such as Gmail and Facebook.
The Nano S hardware cryptocurrency wallet is available online on the Ledger website for a reasonable price of xx including VAT. An indication of the delivery time can be found on the website.
Tip: If you lose the Ledger wallet, you can “restore” your wallet with a recovery sentence of 24 words. This is possible with any BIP39 compatible wallet, but the easiest way is to do this is with another Ledger Nano S. So if you want to be sure that it can’t go wrong, buy 2 right away.
TREZOR is a highly secure hardware wallet designed to protect digital assets, such as cryptocurrencies and log-in data. The TREZOR wallet ensures that Bitcoin (and altcoin) transactions can be sent 100% securely, even if the device on which the transaction is carried out has been infected with a virus or malware.
Transactions on a blockchain are provided with a digital signature to declare the validity and origin of a transaction. In order to sign a Bitcoin transaction, a special digital key (or password) is required. These secret digital keys are encrypted and stored in the TREZOR wallet and can only be used when the TREZOR user enters his PIN code on the device and approves a transaction.
The TREZOR device itself is therefore used to approve a transaction, but of course this transaction must also be initiated somewhere: for this purpose you use a software wallet that cooperates with TREZOR. This can be the official TREZOR software wallet, but also another software cryptocurrency wallet such as Coinpayments, Electrum or MyEtherWallet.
TREZOR supports different cryptov currencies and can therefore call itself a full-fledged multi-cryptocurrency hardware wallet. Popular currencies that TREZOR supports include Bitcoin, Ethereum (+ all ERC-20 tokens), Dash, Ethereum Classic, ZCash, Namecoin and Dogecoin.
The TREZOR is available in white and grey from …. At an extra cost, the TREZOR wallet can be delivered extra quickly: this takes about 2 working days with DHL. You can purchase the TREZOR hardware crypto wallet by clicking on the button below, after which you will be redirected to the TREZOR webshop. Payment can be made by Bitcoin or by credit card.
TIP: If you order 2 TREZOR wallets, you can use the 2nd as a backup: this means that your Bitcoins are always safe, even if you lose your 1st TREZOR wallet or it breaks down.
These wallets can be installed on your own device, such as a smartphone or computer. Software wallets can be subdivided into hot wallets and cold storage wallets:
These are connected to the Internet in a way that allows you to access your cryptocurrency from any location and from any device. This is useful on the one hand, but on the other hand it brings with it security risks.
These wallets are not connected to the internet (offline wallets) and can therefore only be accessed/opened on the device on which the software wallet is installed. Your cryptocurrency is then stored on the hard drive/storage medium of the device in question. This is safer than a hot wallet, but can be clumsy because transactions cannot be carried out without the device in question.
For both types of wallets, it is important to protect access to the wallet properly. If, for example, the wallet is locked with a password, you will no longer be able to access the contents of the wallet without this password. Does (the hard drive of) the device on which the software wallet is running crash? Then it is possible that you may lose your cryptocurrencies!
Usually the developers and/or the community of blockchain technology make a wallet available which is specially made for the corresponding cryptompoint. For all cryptocurrencies published on Cryptostart, we also recommend which specific software wallet is the best.
In addition to wallets that are intended to hold only 1 specific cryptocurrency, there are also so-called multi-cryptocurrency wallets: these are (software) wallets in which several cryptocurrencies can be stored at the same time.
The best multi-crypto wallets include Exodus and Jaxx.
Being able to access your blockchain property anytime and anywhere is for many people an important feature of an online cryptocurrency wallet. Online wallets offer a high degree of user-friendliness, a user-friendly interface and do not require any installation on the user’s device. Usually an online wallet offers the possibility to store and manage multiple cryptocurrencies from 1 dashboard.
An online wallet means that a third party, the wallet provider, acts as a platform to store your cryptocurrencies. After registration, usually on the website of the wallet provider, you will receive a kind of online bank account for one or more crypto currencies. You can then access this at any time via your browser, but also via a mobile app at some providers.
Online cryptocurrency wallets sometimes also offer the possibility to buy new crypto coins directly from the wallet, or to exchange cryptocurrency if it concerns a wallet in an online cryptocurrency exchange.
In the case of an online wallet, your cryptocurrency is actually stored by a third party, it is very important to ensure that you choose a reliable wallet provider. After all, on the one hand you want their platform to offer the necessary security measures to ensure that you are not hacked, but on the other hand you do not want to run the risk that the provider itself will get off with your money.
Best Online Cryptocurrency Wallet: Coin Payments
Coinpayments is a Canadian company that provides a payment platform for companies to receive payments in more than 70 different crypto currencies. These cryptosystems end up in Coinpayments’ best online multi-cryptocurrency wallet, which can also be used for private use.
The Coinpayments platform is super innovative and user-friendly. The creation of a wallet is free of charge, but a transaction fee of 0.50% is charged for the use of the service.