• Paul
• On August 25, 2020

Cryptocurrencies’ popularity is increasing continuously, and if you are investing in them, you should also get the most out of the crypto wallets. They can help you not only to keep your crypto securely but also to allow you to utilize your assets more effectively if you are about to trade them. Another way to keep your crypto is on the exchange platforms like Binance or Coinbase. Based on this infographic these 2 companies are the most trusted wallet providers used by most newcomers. This way, you can hand over your crypto to the third party for taking care of it. However, if you want to manage them on your own, then you should find the crypto wallet that works for you. We can split crypto wallets into two types – PC wallets and mobile wallets.

PC wallets – Pros and Cons

The name of this cryptocurrency wallet type is pretty intuitive. You can download it to your PC or laptop device and manage your crypto directly. Those crypto wallets are adapted to all major operating systems such as Windows, macOS, and Linux. Since they are operating on a powerful system, you shouldn’t have any glitches while using them, supposing that you have an internet connection.

Most of the crypto wallets are free to download and use. However, some may work better on specific devices, and you should spend some time checking around which one would provide you the best user experience on your device. Also, crypto wallets do not have the same level of technical capabilities, and depending on the type of trader, some of them might be more efficient over others.

Electrum is considered the best desktop crypto wallet by many users as it can efficiently address all the needs of advanced users. It has been around since 2011 as one of the original Bitcoin wallets. However, if you are a newbie in the crypto industry, then Exodus might be the top choice for you. Its simplicity and excellent customer support are essential for every beginner. If you are looking for the best multi-currency wallet, Atomic Wallet should be the best choice. It is simple to use, and you can store up to 500 different cryptos. The single interface allows you to manage all cryptocurrencies efficiently.

The most convenient about PC wallets is that you have a great variety of features available. Besides the vast number of assets at your disposal, you can also trade directly on your wallet, thanks to the built-in exchange platforms.

On the other hand, the security of your crypto wallet highly depends on the security of your device. It means that if security features installed on your desktop are weak, your crypto wallet is vulnerable too.

Mobile wallets – Pros and Cons

As their name says, mobile wallets can be downloaded to your mobile device. They allow you to manage your crypto on the go since you can take them around, what wouldn’t be possible with desktop wallets. You can have your crypto in hand while purchasing goods from physical merchants that accept them as a payment method. Mobile wallets provide you flexibility and make cryptos even more useful. If this sounds attractive to you, let’s check what mobile crypto wallets are the best.

Mycelium is probably the most popular mobile crypto wallet. It is an open-source and mobile-only wallet that currently supports only Bitcoin. It is similar to Electrum; however, its user interface is more refreshed, and Mycelium has a built-in exchange. Some interesting features are available for users, such as hardware wallet support. Thanks to this one, you can store your Bitcoins on an offline device, but you can still see your holdings at Mycelium’s interface.

A mobile crypto wallet that allows you to buy cryptos directly from Apple Pay is Crypto.com,also known as CDC . It enables you to store over 100 cryptocurrencies, and this makes Crypto.com stand out of the competition. CDC also have one of the lowest fees on the market. Jaxx is another mobile crypto wallet that allows you to store multiple currencies. You can also compare price changes, track your preferred assets, or see market caps thanks to its advanced features.

However, the main downside of mobile crypto wallets is the fact that security is a big issue. Your assets might be at risk if you lose your mobile device. It would be best if you considered installing essential security features that can prevent this risk.

Final verdict

It is a tough call since so many users have different preferences. If you are looking for the best convenience and flexibility, then mobile wallets should be your pick. Otherwise, if you want to have more features available, or more trading options, then desktop versions should work for you the best. But, before selecting your preferred wallet, read some reviews to ensure it is perfect for you.