To start investing in cryptocurrencies, the first thing you would need is to set
up your digital wallet. In the cryptocurrency realm, the term used is “wallet”.
The wallet can be likened to a bank account, which can be stored in different
A cryptocurrency wallet is a software program that functions to store private
and public keys and interacts with various blockchains. It enables users to send
and receive cryptocurrencies as well as tracking their balance.
There are many wallets out there for you to choose from, which is all
dependent on your security needs as well as whether you wish to be an active
trader or a more passive buy-and-hold investor.
Once you have set up your wallet, you can then proceed to purchase and
exchange the digital currency of your choice on many platforms. Firstly, let’s
explore the top 5 wallets for you to choose from to hold your crypto funds.
The top 5 wallets that you can choose from to store your cryptocurrencies are
4. Jaxx Wallet
Firstly, let’s look at breadwallet.com.
For now, breadwallet only receives Bitcoin to store in their digital wallets. This
wallet is great for Bitcoin beginners as it is very user friendly and simple to use.
Most importantly, the tool is free to use.
All you need to do is to download breadwallet, choose a passcode and you are
ready to receive your currencies. There are no login names or passwords and
no complicated cryptographic keys or configuring any settings.
However, the downside of this wallet is that it can only be downloaded to your
mobile device and there is no web or desktop interfaces. It also lacks features
and it is a hot wallet, which means it has less security and other parties may
access your private keys easier.
The second wallet is known as Blockchain.info.
The Blockchain is catered towards Bitcoins only and is a mobile based app for
both iOS and Android. It also acts as a web based wallet. The most
distinguishable feature of the Blockchain wallet is the newly developed
payment channel for the Bitcoin network, known as “Thunder”.
The technology enables users to send and receive Bitcoins without touching
the main blockchain. This results in a very secure transaction and instant
The Blockchain wallet is free and to create your account, you need to head to
the main page and sign up for your account.
The third wallet is known as MyEtherWallet.
This wallet caters specifically to Ethereum currency. This wallet is user friendly
as it allows you to create a new wallet without having to download the
blockchain as you can simply use the web-based application.
MyEtherWallet is not your standard web wallet. You do not have to create an
account on their server. You just simply create a wallet which is yours to keep,
where you may broadcast your transactions on the blockchain through their
Next is Jaxx Wallet.
The biggest advantage of Jaxx is that it supports many of the leading
cryptocurrency platforms such as Bitcoin, Ethereum, Litecoin, Dash and many
more. It is both available to be downloaded on the mobile device or you can
open it on the web.
It also has one of the best user interface as when you login to the system you
know how to navigate yourself and it is pretty straightforward. They prioritize
Jaxx also has very good security and privacy settings as your private keys are
sent to your local device and never to any servers. This simply means you have
full access to your crypto funds and Jaxx does not hold or have access to any of
However, as the code is not an open source, the system sometimes can be
quite slow to load.
Last but not least is Trezor.
Trezor Grey bitcoin hardware wallet compatible with bitcoin, dash, zcash, ethereum is a hardware Bitcoin wallet ideal for storing large amounts of Bitcoin. It is also suitable for beginners and very user friendly and has very good securityand privacy settings. The web interface is easy to use and the device comes with a built in screen. Most importantly, it is open source software.
As it is a very secure and practical device, the cost is a little bit pricey at $99.
You must also have a device to send your bitcoins.
As an alternative, there is also the Ledger Hardwarewallet.
Ledger Nano S – Cryptocurrency Hardware Wallet With MintCell Magnetic USB Cable and Cable Tie