Having a robust digital wallet will save you from many worries. There are more and more cases of users who have been victims of theft and scams of their crypto assets. Do you want to minimize these types of incidents? To do this, you must have apps that shield your money and protect it with a suitable security protocol.
Although Blockchain technology is very secure, you must take precautions. That is, as a user, your priority is to protect your digital assets in wallets that guarantee the well-being of your funds. For that reason, we show you the 5 safest wallet app options to save your money.
Protect your digital wallet with these 5 best apps
A digital wallet is vital to carry out any cryptocurrency transaction. However, as technology advances, hackers are developing newer methods to steal your funds subtly. Understanding that cryptocurrencies are managed in a decentralized way, it will be crucial to know how to take care of your investment.
Each bank uses its own financial security system. The detail is that the new digital assets promoted by banks are not decentralized. At Insiderbits, we carry out an exhaustive analysis of the 5 best alternatives to move and store your cryptos:
1. Trust Wallet
We start this list with Trust Wallet. Beyond its growing popularity, Trust Wallet stands out for being a very reliable digital wallet. For this reason, more than 60 million users have chosen this wallet to make crypto transactions.
But what makes this digital wallet an option for users? In fact, the possibility of exchanging with a wide range of cryptocurrencies and tokens of the Ethereum network.
Being a hot wallet integrated with Binance, it is simpler to exchange your crypto assets. If you have a Binance account, you will be able to move your crypto to Trust Wallet. The application also does not charge transaction fees to third parties. If you buy a cryptocurrency from the app, the platform will charge you a 1% surcharge on the value of the transaction.
Trust Wallet is a versatile platform because it has more than nine million assets. It is compatible with more than 70 blockchains. But it also stands out for the following characteristics:
• It presents a simple interface for any user.
• It has more than 9 million cryptos and tokens available to trade.
• Allows you to make transactions from Binance.
Beyond the benefits of this wallet, is it safe? The evidence and testimonies of its users do not prove otherwise. However, the fact that it is a hot wallet does not prevent you from being a victim of a scam. But it will give you quick access to your crypto assets in case you want to make a transaction.
2. Bitcoin & Crypto DeFi Wallet
Bitcoin & Crypto DeFi Wallet on Bitcoin.com solves one of the most common problems of other digital wallets. This wallet does accept fiat money to buy Bitcoin. That is, you can acquire crypto by paying with your credit card, something that is remotely unlikely in other apps.
Commissions at Bitcoin.com are usually low. For example, if you want to buy Bitcoin, you will have to pay a 0.2% commission. If you decide to take the next step, you will enjoy the following benefits:
• Acquire Bitcoin and Bitcoin Cash in seconds
• Use dedicated software that guarantees the well-being of your investment
• Buy cryptos with local currencies
When delving into the operation of this wallet, we consider that it is minimal. Unlike Trust Wallet, at Bitcoin.com, you will not be able to purchase tokens or NFTs. On the other hand, it presents a security method such as two-step authentication. This protocol may need to be revised for many users to protect their funds.
3. SafePal: Crypto Wallet BTC NFT
For fans of the crypto world, security is a priority. SafePal has changed the wallet game. This digital wallet does not store your private keys. That is, it is challenging for a hacker to have access to your personal data.
Now, let’s suppose in the hypothetical case that a hacker enters your account. Luckily, SafePal accounts have an “EAL5+” security certificate. If someone enters your account, your password will automatically be destroyed. In other words, the thief will not have access to your funds. SafePal is characterized by presenting the following functions:
• You will be able to acquire more than 45,000 assets, tokens, and NFT projects
• Allows you to stake
• You can buy the SFP, the app’s native token.
Based on the design of this wallet, can we infer that it is a secure alternative? Yes, without a doubt, SafePal is one of the most solid options you will find on the market.
4. Exodus: Crypto Bitcoin Wallet
Would you like to generate income with your cryptocurrencies? It allows you to stake crypto assets, as well as smart contracts, on the Ethereum ERC-20 network. This marks a clear difference between this digital wallet and others available on the market. In Exodus, you can transact with assets such as
• iExec RLC
One of the limitations of Exodus is that it does not allow you to sell or buy your altcoins from its platform directly. For example, if you want to exchange Litecoin for US dollars, you can do so through the Coinbase exchange. But if you’re going to move your coins to Binance, you can do it without problems.
Another thing that impressed us about this digital wallet is that it allows you to make backup copies. If your cell phone is stolen, you will be able to access your account as long as you have your 12-word password on hand. Additionally, you will receive an email with a link to access and regain control of your account.
We end this review with the Blockchain.com mobile wallet. The main feature of this wallet is that it is a non-custodial wallet. And this means? The system does not have access to the private keys of the users of said platform. However, this is a double-edged sword: you need to lose your passwords to be able to recover your account.
Blockchain.com differentiates itself from other wallets due to its wide offer to transact with cryptoassets. You have more than 1000 coins at your disposal, including all tokens on the ERC-20 network.
In terms of security, Blockchain.com only confirms the authenticity of the user through two-factor authentication. We expected the user to have access to their account thanks to a PIN. However, despite these details, no significant problems have been reported with this virtual wallet.
Digital wallets, in general terms, are very safe to protect your assets. But are they the safest options? Definitely not. Although they have perfect security protocols, they are not as effective as cold wallets.
It is the ideal time to protect your cryptocurrencies
At Insiderbits, we are aware of changes in technology. Understanding how the crypto world works will help you take advantage of the opportunities the market offers. If you want to stay informed of the new news from the crypto world, stay tuned for our subsequent publications.