This best crypto wallets review will guide you through the best places to store your Bitcoin and altcoins. Over the past 10 years, Bitcoin’s value has sky rocketed. Cryptocurrencies have taken the world by storm. This leads us to needing ever more safe places to store our digital investments. If you’re new to cryptocurrency and you’re wondering what software or hardware you’ll need, this post is for you. It’s never been more easy to get involved in crypto so check out this post and we’ll have you covered on the safest, easiest and best crypto wallets available on the market today
1. Best crypto wallet overall – Coinbase
Coinbase is one of the easiest ways to buy, sell and store cryptocurrencies. With Coinbase, you can connect to a U.S. bank account and easily transfer dollars in or out of your dollar wallet.
Likewise, UK residents can connect a UK bank account and buy and sell the best cryptocurrencies with ease.
While the big upside of Coinbase is ease of use, it’s also one of the safest platforms and wallets around. If you are going to have one wallet only, then this is the wallet for you.
2. Best for security – Ledger Nano
The Ledger Nano is a USB sized hardware wallet specially designed for the cryptocurrency. It’s a cold wallet so your cryptocurrencies can be stored off-line making it one of the safest ways to keep your funds safe.
It offers many features which are hard to find in any other type of cryptocurrency wallets, especially in terms of security and backup of your private key for the digital currency.
The Ledger Nano allows you to complete a transaction, exchange your digital currency, use the related apps and transfer money from one account to another account within seconds.
The edge the Ledger Nano has over other hardware wallets is the number of coins and tokens it supports and its extremely portable size.
Underlining all these great attributes, the Ledger Nano is very secure from hackers because the physical buttons that have to be used for any transaction to be carried out, and it has an anti-tamper proof feature which checks the integrity of the hardware wallet every time it is powered up.
3. Best for desktop: Electrum
Electrum made its way on the scene when Bitcoin was valued at just a few dollars. It’s one of the oldest and most reliable wallets out there. It’s now estimated that over 10% of all Bitcoin transactions occur on Electrum.
Electrum is a software wallet which means your Bitcoin is stored in a set of files on your home computer. It’s currently available for Windows, Mac OS X, Linux and Android.
The most significant benefit is that you can quickly download and install Electrum. From there, you can store your Bitcoin.
Electrum is considered one of the most secure and best bitcoin wallets available today.
For further info visit the Electrum official site.
4. Best user experience for desktop: Exodus
The Exodus crypto wallet offers a beautiful and intuitive experience when storing crypto. If you are looking for a wallet for your digital currency which has clean graphics, a concise reporting system, colourful and user-friendly then Exodus should rank high on your list.
In addition, Exodus has advanced features which you expect to have in any advanced level web-based online wallet (support for multiple currencies, one-click exchange, top-notch security protocols).
5. Best for mobile: MyCelium
If you’re looking for a top smartphone Bitcoin wallet, then the MyCelium wallet may be the one for you. It’s hard to find too many faults with the product. It’s simple to understand and has more complex features for advanced users.
Sending and receiving is super fast which makes it effective for storing and using small amounts of Bitcoin (this is the only crypto it supports).
The only drawback is the potential security threats of it being online.
As with any device that is continually online storing private keys, security is never 100% guaranteed. In our opinion, this is a great option for sending and receiving Bitcoin on the move and is something which can complement other storage options.
6. Best exchange wallet: Binance
At some point, you will want to move some of your Bitcoin’s and altcoins from the safest storage options such as a Ledger Nano or Coinbase to an exchange wallet.
Why will you need to do this?
If you want to trade Bitcoin for a range of altcoins then you’ll need an exchange to do this. This is where the rub is. No exchange is infallible. They do get hacked. They are using hot wallets to store your crypto. We need to appreciate that this is one of the less secure ways of storing cryptocurrencies.
We, therefore, must balance the positives (such as the range of coins and liquidity an exchange offers) with safety. When the chips are down, we recommend Binance as it’s the biggest and best crypto exchange out there.
As long as you take steps to transfer the fruits of your trading to a more secure long term option, then Binance is still the best exchange wallet option available.
The best crypto wallets – wrapped up
And that’s our guide to the best crypto wallets for storing Bitcoin and altcoin. We are sure that from this curated selection there are a number of options that will fit your needs. If you found this post helpful, please share us on your social media channel below.
Thieves Stole About $450,000 from Crypto Trader at Knifepoint
A Hong Kong woman has fallen victim to a gang of robbers after conducting a crypto transaction worth almost $450,000.
Gang of Four Steal $450K From Hong Kong Crypto Trader
According to a report by the South China Morning Post, a female crypto trader was held at knifepoint by a gang of thieves, who stole HK $3.5 million ($448,700) from the victim.
As part of the robbery operation, one of the thieves posed as a prospective cryptocurrency buyer. The woman had earlier conducted different crypto transactions for the man, ranging between HK$600,000 and HK$700,000.
Hong Kong authorities stated that the trader sold Tether (USDT) tokens to the man via her iPhone and was later lured to an office to receive payment in cash. Shortly after receiving the money, other members of the gang held the trader at knifepoint to steal the money and her iPhone.
Authorities were able to get wind of the robbery after the victim contacted her husband with a second phone, who in turn called the police. Meanwhile, authorities are conducting a search for the gang.
The woman’s uncle, who escorted her to the location of the transaction, also told the police that he saw four men fleeing the scene of the crime.
The details of the attack also closely resemble another incident from earlier in January when a gang of four robbers stole HK $3 million from another crypto trader. In the earlier case, the hoodlums also posed as prospective buyers, completed a few transactions to gain trust before pouncing on their victim.
Armed Robbers and Kidnappers on the Prowl for Crypto Owners
Physical crypto-related thefts are reportedly a regular occurrence in Hong Kong, with the number of such incidents doubling between 2019 and 2020. Indeed, the growing value of cryptocurrencies seemingly provides incentives for armed robbers looking for victims.
Back in 2018, a police officer in India was among a group of people arrested in connection with the kidnapping and extortion of a businessman to the tune of over $49 million.
CryptoPotato compiled a list of crypto security tips for investors and traders to safeguard their wallets and crypto. One of the important things to consider is keeping your holdings private and be very careful when it comes to peer-to-peer transactions.
3 key reasons why Polkastarter (POLS) price rallied 500% since December
Polkastarter (POLS) is a cross-chain token pool and auction protocol built on the Polkadot (DOT) blockchain. It launched in October of 2020 as a way for projects to raise capital in a decentralized environment and since January the token has rallied 500% to a new high at $1.78.
Three possible reasons for the recent growth of POLS are the strong rally seen from Polkadot, strategic partnerships and exchange listings and an expanding list of token launches via auctions.
The rise of Polkadot
The rising popularity of the Polkadot network is arguably the most significant influencer on the price of POLS. Similar to Kusama, Polkastarter’s association with Polkadot could attract additional user and investor attention.
Polkadot’s rally began on Dec. 27, 2020, and it culminated on Jan.15 as DOT saw a 75% price increase in one week. POLS strong rally also reignited on Dec. 27 and followed a similar trajectory to DOT.
Now that DOT has flipped XRP to become the fourth-largest cryptocurrency by market cap, further price strength for Polkadot has the potential to have a positive impact on the overall performance of Polkastarter.
Exchange listings and partnerships
Prior to Jan. 14 POLS was only available on Uniswap and Poloniex. At the time its liquidity was limited and high ETH gas fees also complicated matters for those thinking about trading the token.
After the Huobi exchange announced plans to list POLS on Jan. 14, its trading volume increased from an average of $2 million to $22 million overnight.
Now the POLS community is working on being listed at OKEx and a recent tweet from the project informed supporters that the project only needs 2,000 more votes to qualify.
Listing POLS on another high-volume exchange has the potential to further boost the token’s price as more people will have access to one of the fastest-growing Polkadot based projects.
Successful auctions and token launches
Similar to the initial coin offerings (ICO) that occurred in 2017 and 2018, Polkastarter is gaining momentum due to its ability to attract capital heavy investors looking for the opportunity to get first access to the newest blockchain projects.
Polkastarter’s protocol is designed to enable cross-chain token pools and auctions as a method of raising capital in a decentralized fashion. To date, the platform has conducted 12 separate Initial Decentralized exchange Offerings (IDOs) with 20 different pools consisting of both public and private offerings. To date, only one pool failed to sell out.
The strong rally seen from DOT has only increased the desire of projects wanting to develop on top of Polkadot in order to capitalize on its growing popularity as well as avoid the challenges associated with building on Ethereum.
Tosdis, the most recent IDO conducted on Polkastarter, tweeted the following after its successful auction as an example of the platform’s growing popularity:
“We are really delighted to announce that our IDO on Polkastarter is sold out. POLS pool was sold out in record 30 seconds. After fixing some overloading and gas issues, the public pool was sold out in 90 minutes. We are overwhelmed by the support. Thank you and Stay tuned.”
Polkadot’s rise, successful IDOs on the Polkastarter platform and the listing of POLS on new exchanges have helped propel the value of the token to new highs and investors are optimistic that these strong fundamentals will push the price higher.
In addition to these fundamental factors, Ether’s (ETH) recent surge to a new all-time high has many analysts calling for the start of a new ‘altcoin season’. According to Raoul Pal, the CEO and co-founder of Real Vision Group and Global Macro Investor, traders are likely to plow into “higher risk alts” after Ether secures a new all-time high.
If this prediction does come to pass, it could also mean even brighter days are ahead for the Polkastarter ecosystem.
Latest CME Report Reveals Growing Appetite for Bitcoin Amongst Institutions
- Bitcoin has been consolidating within the $30,000 region throughout the past few days and weeks
- Bulls and bears have largely reached an impasse, with buyers and sellers both being unable to spark any trend
- This comes as large institutional inflows show some signs of tapering, with these buyers largely being viewed as the ones responsible for the recent market-wide surge
- The latest Commitment of Traders (CoT) report from the CME reveals a striking trend – institutions are increasingly adding to their long exposure
- This seems to invalidate the notion that institutions are slowing their accumulation habits and may point to an imminent wave two of buying from these parties
Bitcoin has seen mixed price action as of late, with the selling pressure in the upper-$30,000 region slowing its ascent as bulls and bears largely reach an impasse.
Where the crypto market trends in the mid-term may depend largely, if not entirely, on whether or not Bitcoin can continue stabilizing or break above $40,000.
Any strong rejection here could cause the crypto to see some notable losses that potentially lead altcoins to follow suit and selloff as well.
One positive trend that seems to bode well for Bitcoin’s outlook is growing long-exposure from institutions using the CME.
This trend suggests that institutions are still pouring money into the market.
Bitcoin Stagnates as Consolidation Phase Persists
At the time of writing, Bitcoin is trading up just under 2% at its current price of $36,700. This marks a notable decline from daily highs of nearly $38,000 set just a couple of hours ago.
The entire market retraced with BTC, but ETH and other altcoins are all trading up significantly from where they were just a few days ago.
Institutional Traders Are Increasingly Long on BTC
One positive trend for Bitcoin is the growing presence of institutions in the market, which is a large part of why it has been rallying so heavily throughout the past few months.
Although they may be bidding less aggressively on BTC as it hovers around its all-time highs, data from the CME’s latest Commitment of Trader’s report indicates that long interest for BTC amongst institutions is steadily climbing.
“12 – January CME $BTC Commitments of Traders (COT) report – Open Interest: 12,039 up 6.5%”
Image Courtesy of Unfolded. Source: TradingView.
The coming few days should shine some light on whether or not the constant rejection seen by Bitcoin in the upper-$30,000 region will have any impacts on its mid-term trend.
Featured image from Unsplash. Charts from TradingView.
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