A cryptocurrency wallet is an indispensable tool for any cryptocurrency holder. It confirms the ownership of a specific amount of cryptocurrency and specific coins that are stored on the blockchain. The wallet provides the user with access to coins and the ability to dispose of them at his own discretion, for example, exchange them on the ETH to MATIC exchange, send a money transfer to relatives abroad, etc.
Since cryptocurrencies exist only in digital form, any actions with them require digital tools, that is, special programs. They got the name of crypto-wallets. Such programs are available in different versions. They are necessarily built into the functionality of cryptocurrency exchanges, available for download on desktop and mobile devices, as extensions for browsers, as well as on offline physical media.
Modern cryptocurrency wallets “can” much more than a few years ago. Basic functions, such as viewing the balance, receiving and transmitting transactions very quickly became insufficient. One of the first additions was the ability to store multiple assets in one storage. Most popular modern crypto wallets like rapidz.io support hundreds of assets, single-currency versions are gradually fading into the background.
Multi-currency wallets
A multi-currency wallet is really convenient if you plan to use more than one cryptocurrency. Such vaults become even more relevant if you are a connoisseur of rare coins.
And yet it is not superfluous to recall the common truth about eggs in one basket. After the Binance hack and the deafening collapse of FTX, the need to store coins off exchanges has become quite obvious to many cryptocurrency holders. A few days ago, even Zhangpeng Zhao, the founder of Binance, recalled this.
The optimal organization for storing coins may look something like this: an exchange wallet + a hot wallet on the user’s device + hardware storage. In hot vaults, it is recommended to keep small amounts for current expenses and active trading on the exchange, a hardware device becomes relevant when you have a significant amount on your balance.
Roughly the same can be said about multicurrency wallets. As long as you operate with a relatively small and non-critical amount of cryptocurrency for you, coins can be stored together. When the balance on one or more accounts exceeds the amount that is significant for you, it may be wise to take care of additional isolated hot storages or purchase a hardware device. Moreover, swap TRX to BNB on LetsExchange is possible at any time when it is necessary, regardless of the method of storing coins.
The best crypto wallets for trading rare coins
Guarda
You can work with Guarda from a browser, through an application on a computer or a mobile application. It is also important that it is decentralized and non-custodial, that is, it does not store user funds or keys at any point in time. Registration is not required, all transactions remain private. Guarda supports over 45 blockchains, which together run thousands of different tokens and dozens of stablecoins. It is possible to synchronize the application with the Ledger hardware wallet.
Trust Wallet
The project is officially supported by the Binance cryptocurrency exchange. Provides the ability to store any tokens of 60+ blockchains, that is, over 1,000,000 assets. The Binance DEX integrated exchange allows you to exchange tokens running on the Binance blockchains (BC and BSC) for each other.
Hardware devices
Trezor and Ledger Nano S constantly compete for the palm in this category. Both wallets provide a high level of security, support a large number of coins and do not differ too much in cost. Each user makes the choice between the two market leaders based on their own ideas about the comfort of using the device.
More Stories
Between You & Me announce “Sh!t Yeah” Australian headline tour
Caskets return to Australian shores for national tour this spring
Sueños Festival continues to supports local Latin-owned businesses with 20 Days of Sueños contest for free tickets