Let’s start at the beginning. Do you know what cryptocurrency wallets are?

What is a wallet?

It is software that stores private and public keys, which allows you to send and receive cryptocurrencies through the Blockchain, store them and control your balance.

In other words, we can say that a wallet is a virtual wallet where you keep your cryptocurrencies, and this is necessary because if you do not keep them with their keys, they could access them.

Private keys are like a credit card PIN and allow you to access your account, while public keys are like a bank account.

Is it essential to have a cryptocurrency wallet?

A wallet is essential if we want to protect our cryptocurrencies most safely.

If you have not yet decided through which platform to manage your digital wallet, we show you the types of wallets that are on the market:

• Hot wallet: software that can be applications or installed as extensions in the browser.
• Cold wallet: hardware that works without the internet, which makes them the safest option.

READ MORE: What are the most profitable cryptocurrencies today?

What are the best wallets?

The following virtual wallets are considered the best wallets for cryptocurrency:

Coinbase

It is the most used and well-known mobile app; it is also very safe in digital storage for cryptocurrencies.

It is the most recommended option since it is convenient for protection and moving money for investments.

Coinomi

It is a wallet that accepts an infinity of cryptocurrencies; it is software that stores encrypted crypto assets locally on your devices.

Trust wallet

The app accepts the most popular cryptocurrencies, such as Bitcoin, dash, stellar, etc.; the most exciting thing is that it pays an interest ranging from 5% to 7% for some cryptocurrencies for including them in the staking system.

READ MORE: Trading Ripple cryptocurrencies

Trezor

It is a physical wallet considered one of the best in the world; it allows access from any device.

In addition, it generates a recovery phrase of 245 words and a security key that supports the crypto assets that we have stored and has a physical button that we have to press when executing a transaction, thereby increasing the security of this virtual wallet.

Electrum

It’s a desktop and lightweight wallet generating a seed you can later use to reset your funds.

Bitcoin Core

It is one of the forerunners of the wallet world, offering high levels of security and privacy, but they are designed for more advanced users.

Recommendations for the use of the best wallets

The first thing is to verify that the wallet you will use has a version according to the operating system you will use that allows you to have a better experience.

It would help if you kept an eye on the security news of the wallet you use so that you can monitor any security breaches.

Also, you should constantly update your wallet software to protect you from security flaws and use new features that developers have created for your wallet.

Considering all these things, any of the wallets indicated in the previous section is a good option.

But if you require something more straightforward and easier to use, it is recommended to use a cloud wallet; this will allow you to manage your cryptocurrencies with a username and password securely and from any browser.

To conclude, we repeat that wallets are where cryptocurrency exchanges, transactions and storage are carried out. Therefore, you must choose the one offering greater security in your operations.