Cryptocurrency wallet apps are essential tools for storing and managing your digital assets securely. These applications, whether in hardware or software form, store your private and public keys, allowing you to transact and monitor your cryptocurrency balances. When someone sends you a cryptocurrency, they are essentially transferring ownership of the coins to your wallet’s address. Unlocking these funds requires a match between the public key stored in your wallet and the public address assigned to the currency, resulting in an increase in your wallet balance and a corresponding decrease in the sender’s balance. Every transaction is recorded on the blockchain, ensuring transparency and security.
Types of Cryptocurrency Wallet Apps
Your smartphone is an excellent resource for keeping track of your investments and accessing the cryptocurrency market on the go. There are various types of wallet applications available, each catering to different needs and preferences. Here are some of the best cryptocurrency apps that can help you stay informed and ahead of the game.
Coinbase
Coinbase is a widely accepted wallet app that allows users to trade cryptocurrencies and manage their accounts. Similar to PayPal, Coinbase enables you to send and request Bitcoins securely. It also offers additional security features such as remotely disabling phone access in case of loss or theft. However, the fees associated with Coinbase can be on the higher side, which may deter some users.
Bitcoin Checker
Bitcoin Checker is a popular cryptocurrency app that provides real-time prices and essential information on a wide range of cryptocurrencies worldwide. This free app is a valuable tool for staying updated on the latest market trends and developments.
Jaxx
Jaxx is a versatile wallet app that supports multiple cryptocurrencies, including Bitcoin. It offers a user-friendly interface and a secure storage system. Jaxx also features ShapeShift support, allowing for fast and convenient exchanges of crypto balances. However, since Jaxx is a closed-source app, it is advisable to use it for storing and exchanging small amounts until security concerns are addressed.
com
com is a user-friendly wallet app known for its attractive transfer fees and robust security measures. It simplifies the process of transferring Bitcoin through QR codes and facilitates direct purchases from your wallet. Additionally, it ensures the recovery and security of your data, providing peace of mind for users new to the world of Bitcoin.
Cryptonator
Cryptonator combines all essential functions into one convenient app. It helps you track your favorite currencies, monitor your portfolio’s value, and assess the success of each currency monthly. With Cryptonator, you can stay informed and make informed investment decisions.
Exodus
Exodus is a straightforward and easy-to-use wallet app that supports the storage and exchange of cryptocurrencies and assets. It offers similar features to Jaxx, allowing for the creation of a 12-word ‘master seed’ for wallet restoration. Exodus also provides a user-friendly pie chart display of your digital assets and gives you the freedom to choose different ‘skins’ for easy client navigation, setting it apart from other wallet apps.
Blockfolio
Blockfolio is a financial app designed to provide users with a quick overview of their cryptocurrency investments. With comprehensive tracking capabilities and reliable information on over 800 currencies, Blockfolio keeps you informed and notifies you when prices reach specified thresholds. Its news-feed section keeps you updated with industry news and detailed information.
Enjin
Enjin Wallet, created by the company behind the Enjin Coin, supports Enjin coin and various other cryptocurrencies. While currently available only for Android devices, progress is being made to develop an iOS app. Security is a top priority for Enjin Wallet, with its own keyboard for added protection. If your phone is lost, your wallet can be easily restored on another device by scanning a 12-word paper.
Electrum
Electrum is a popular ‘thin’ wallet compatible with Windows, Linux, and Mac. It sets up quickly and occupies minimal space on your hard drive. Electrum securely connects to other servers to confirm your BTC balance and process payments. Its randomized ‘seed’ and encryption options provide additional security. Electrum also allows you to create a ‘watching only’ wallet, enabling you to receive Bitcoin payments and view your balance while keeping your private keys offline.
Delta Portfolio Tracker
Delta Portfolio Tracker supports management for over 2000 cryptocurrencies, including price alerts and the ability to track coins not yet listed on exchanges. This versatile app allows you to enter custom coin details and merge them with the live listing once the coin becomes available. With its impressive array of features, Delta Portfolio Tracker is an essential tool for cryptocurrency investors.
Conclusion
Regardless of the wallet application you choose, there are a few important actions to keep in mind for optimal security:
- Back up your wallet: Store small amounts of currency needed for daily use online and keep a larger portion in a more secure environment.
- Constantly update your software: Regularly check for updates to ensure the best security measures and enhancements.
- Add extra security layers: Choose wallet apps with a good reputation and additional security features. Set up long and complex passwords for withdrawal requests.
By following these guidelines, you can safely store and manage your digital assets, making the most of the cryptocurrency revolution.
