Types of Cryptocurrency Wallet – An Overview

Do you know where you can store your cryptocurrency and how?

To Store and use any currency, It required a place called wallet where ledger can store their currency.  There are several types of Wallet can find over the internet, including a different way of use. Let’s have a deep dig at different types of best cryptocurrency wallet.

#1: Paper Wallet

Paper wallet refers to a physical copy of public and private keys, It also can be a type of software (that uses to securely generate a pair of keys which can be printed later). Paper Wallet basically uses for storing cryptocurrency. It an offline wallet, and usually regarded as a type of “cold storage” but this is not safe for storing cryptocurrency. Transferring Bitcoin or other currencies to your paper wallet to the public address shown on your paper wallet is adept by the transactions made from your software wallet to the public address shown on your paper wallet. Likewise, If you want to make transitions (Either send or windrow), you need to transfer coins from paper wallet to your software wallet. It can process by putting your private key manually or scanning QR codes on the paper wallet.

Paper Wallet

How to Get a Paper Wallet?

A paper wallet is the open-source random address that can be created through online free source code. Bitaddress.org and wallergenerator.net are both create a free paper wallet to store and send cryptocurrencies. Mycelium also offers free and most secured paper wallets. These wallets can be drive through USB and thus not require any internet connectivity until you make transactions.

#2: Online Wallet

Online Cryptocurrency Wallet is based on Cloud that can be accessed through any device. Online wallets let allow you to store your private or public keys online and are controlled by third parties. An online wallet is a software or a web service that allows users to store currency online and its allow to pay. Each user can add money and linking a bank account.

How to Get an Online Wallet?

There are plenty of online cryptocurrency wallets available for free. You can get a free online cloud-based cryptocurrency wallet from freewallet.org or cryptonator.com. Blockchain Wallet is also available for public publicly. These wallets are secure.

#3: Mobile Wallet

There is a plant of Application available (Android & iOS) that works in Mobile and tablets devices. These wallets can easily available on Apple Play Store or any iTunes Store to download. These wallet works through QR code or Private keys and controlled by a third party. Mobile Wallet, which used for transition through smartphones instead of in your pocket. It has details of your credit and Debit cards which stored securely with the bank.


How to Get Mobile Wallet?

Mobile wallets are available on any of app store. There are hundreds of Mobile wallets available for android based operating systems. These wallets can be download through Play store. Ledger Nano X, Coinomi and Abra, etc. are available with their user rating. These wallets tested and secure to make transactions.

#4: Desktop Wallets

Desktop wallets either download or installed (It can create through Open source software) into your company desktop. These wallets are the most secure wallet as you can setup verification method at multiple times. But if your computer hacked, you may end of losing your funds. Desktop Wallets are Programs that store and manage private key for your Bitcoin.this is a good option for sending frequent transition one to another computer.


How to Get a Desktop Wallet?

A desktop wallet is free from to get but the user has to pay a small charge in order to make transactions. Desktop wallets are also available through the official website of each cryptocurrency. Jaxx, Electrum, Atomic, Exodus, etc are few most popular desktop wallets for currencies.

#5: Hardware Wallet

These wallets aren’t something that required any private or public keys. It is something that you keep your coin offline secured inside any portable device and use whenever required through your keys. You just need to connect your device to any of internet and use your wallet.

Hardware Wallet is a physical electronic device, built for the purpose of securing cryptocurrency, which stores the user’s private keys in secure hardware devices.


How to get a Hardware Wallet?

Hardware wallets are the best option when you’re really serious about security. Hackers have to steal your hardware to get your coins but that not even possible as these wallets are secure with PIN and other authentications. These wallets stored into users PC, external drive or any of media portable devices. You can manage these wallets offline. It required internet connectivity whenever needs to make transitions.

As we discussed above the best crypto wallet. If you are dealing in Bitcoin or in any other cryptocurrency, you can use one of them. All these wallets are secured with advanced security.

Read, Also: Is BTC Transaction Unsuccessful? Here is How To Fix it!

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