Best cryptocurrency wallet 2019 list has been compiled to the best of our knowledge and research.
Please do your own research before you make the final decision on the best cryptocurrency wallet of 2019.
The surge of altcoins such as Ripple’s XRP, Bitcoin and Etherium has been swift and controversial. They have gained in popularity exponentially since Bitcoin managed to hit the $20k mark.
As popularity grows, so too do the concerns regarding security. Which brings us swiftly to the matter in hand, picking the best cryptocurrency wallet for your crypto investment.
Afterall what is the point of investing your hard earned money if you can’t keep it safe?
What makes the best Cryptocurrency Wallet?
Cryptocurrency wallets are basically a method (software or hardware) of storing cryptocurrencies. They store the relevant private and public keys regarding your coins. They also allow interaction with various blockchains globally. This enables users to send and receive digital currency as well as monitoring balances.
If you wish to use XRP Coin or Bitcoin for transactions you will need a cryptocurrency wallet. If you simply wish to invest in crypto without a wallet you can use stock trading platforms such as eToro and Plus500.
How does the best Cryptocurrency wallet work?
Unlike the classical wallets you keep in your pocket, crypto wallets don’t hold currency. They hold the key that explains to the wallet how much you have invested in crypto and ensure that no one can hack into that key. Obviously, in some transactions, the altcoins will be transferred into regular ‘fiat’ currency.
When an individual sends you payment via altcoin they are essentially signing off ownership of the coins to your wallet address.
Main Considerations for the best Cryptocurrency wallet
Before you decide on the best cryptocurrency wallet there are many important points to think of.
- Security - This surely is the first concern with the best cryptocurrency wallet. Your investment must remain secure at all times.
- Ease of use - It’s ok having Fort Knox level security but can you access or use your coins easily?
- Costings - Some of the best cryptocurrency wallets charge you a fee for transactions. They can also charge yearly/monthly so be aware.
- Usage - If you simply wish to invest in crypto you may be better off on a trading site like eToro or Plus500.
- Future - It may be the case that one day we pay for most things via crypto. In this case perhaps a physical wallet you keep on you would be better.
- Type - There are different types of wallet on the market, so decide which type suits your needs best. We recommend starting below.
What is the best Cryptocurrency Wallet in 2019?
There are a variety of different cryptocurrency wallets out there.
- Hardware - Hardware wallets store everything on a device similar to a USB storage ‘fob’. Although these wallets can transact online the keys are stored offline increasing the security factor. Compatible with several web interfaces they can support multiple digital currencies. These devices are also easy to make transactions, users simply attach their wallet to an internet ready device and off they go. One major positive is that hardware wallets are kept offline typically meaning an extra level of security.
- Software - These wallets are exactly what they say, software-based, uploadable to devices such as Desktops, tablets etc. This type has many of the security features on hardware wallets with one major difference. These wallets are usually connected to the internet and as such, susceptible to hacker attack. If you wish to use a software wallet it must be noted that choosing the right one is imperative. A similar level of security to online banking can be found for this wallet type but it will depend heavily on who you choose.
- Trading Platforms - Major trading platforms such as eToro or Plus500 are a major consideration if you are simply wishing to invest in cryptocurrency. They hold your crypto coins for you in their servers. They are insured for the unlikely event of a website or database hack. This means your investment is safe the only issue is that you cannot spend your cryptocurrency as yet on these platforms.
Best Cryptocurrency Wallet - Hardware
The best hardware wallet on the market today according to us and pretty much anyone else. Investments are kept securely via personal pin code and an encrypted microchip. These devices are extremely secure due to the two-step security log in feature. Transactions are performed by the press of a button on the device itself. This meamns that even if your computer is infected with a virus your crypto is still safe.
Trezor is one of the original cryptocurrency hardware wallets and is only slightly more expensive than the Nano S. Similar to the Nano S this wallet has a two-step security feature plus the added security of keeping it offline. The Trezor requests a unique digital signature whenever you attempt to make a transaction. The validation of this key is made with a physical push of a button on the device itself.
There isn’t a great deal to set the KeepKey wallet apart from the Nano S or the Trezor, the reason we rate it the lowest out of the three is the size of the unit - over double the size of the Nano S. That’s as well as the slightly higher price tag set the KeepKey apart. The security features are essentially the same as the other two. After the products we have tried ourselves the tech and security are pretty much nailed. What it boils down to for us, is how small and light you want it to be. The price is not really an issue when you’re trying to find the best cryptocurrency wallet in 2019!
Best Cryptocurrency Wallet - Software
Exodus is an online wallet which is free to set up and use. Many major cryptocurrencies can be stored on this wallet. One of the great features that really appealed to us was the built-in exchange. This allows for the quick and easy exchange of one cryptocurrency into another. It is important to add that this wallet is not yet available as a mobile app or wallet.
Jaxx wallet is available on both desktop and mobile platforms. And yes both Android and ioS are supported. This wallet is proving very popular and it is free to set up. It supports many types of cryptocurrencies and just like Exodus, it has an online crypto exchange. This one we love because you can use it on all platforms and it is easy to use. When you want the best cryptocurrency wallet in software terms, we suggest this one.
Founded in 2014 and currently has millions of users. Coinomi is another great wallet that incorporates both desktop and mobile, ioS and Android. We felt it had great usability and ease of use if you are a beginner. Coinomi state ‘has never had a customer who has been hacked of their investments compromised’. When you have over a million users all saying this is the best cryptocurrency wallet in 2018 who are we to argue with them!
Thanks for reading, we hope it helps please do share for newcomers 🙂
For further reading surrounding this subject check out our guide to buying XRP Coin