Are you looking to purchase cryptocurrency but unsure about the best way to store your coins? Here is a compilation of recommended wallets by Coinsdrom.
Although there are numerous wallets available, security is of paramount importance when it comes to safeguarding your digital assets. Hardware wallets are preferred as they keep your coins offline and provide optimal security. For long-term crypto investors, we strongly endorse Trezor and Ledger as reliable options to store your coins securely.
However, a hardware wallet might not be the most convenient option for users new to the cryptocurrency world. This is where software cryptocurrency wallets prove to be helpful. Coinsdrom advises utilising software wallets for storing and spending, as they do not compromise security and give you complete control over your private keys. Several reliable, efficient, and convenient software wallets are available, and we have listed our recommended ones below.
Our recommended wallet for storing and spending your bitcoins is Electrum, which is reliable and user-friendly.
Electrum, known for its simplicity and security, is an excellent option for newcomers. It is compatible with Windows, Linux, OSX, and Android operating systems, making it accessible to many users.
For Litecoin users, Coinsdrom recommends Electrum-LTC and Litewallet as secure and easy-to-use options.
Electrum-LTC is a forked version of the original Electrum wallet and boasts similar levels of simplicity and security. It can be installed on Windows, Linux, and OSX operating systems.
Meanwhile, Litewallet is the first standalone Litecoin wallet developed for iOS by the Litecoin Foundation. It prioritises accessibility, security, and simplicity, making it an ideal choice for beginners.
Our recommended wallets for storing Ethereum-based ERC20 tokens and Tether (USDT) funds include MyEtherWallet, MetaMask, and Tether Wallet.
MyEtherWallet is the most popular Ether wallet capable of storing ERC20 tokens. It can be accessed via the web or imported into another wallet conveniently.
MetaMask is a highly user-friendly wallet that integrates with popular web browsers. This makes it extremely convenient to store and move your tokens around. It can also be opened from MyEtherWallet.
Tether Wallet, designed exclusively for storing USDT funds, is a straightforward solution suitable for beginners. It offers several security features, including 2-step authentication, to keep your funds safe. However, it cannot be used to store Bitcoin or other digital assets, and users cannot spend their funds directly on goods and services.
IMPORTANT: It’s crucial to remember to back up your wallet and safeguard your private keys from unauthorised access. Additionally, keeping your funds on exchanges for extended periods is not recommended due to the prevalence of exchange hacks in recent years. It’s best to follow secure practices to keep your coins safe, and numerous guides available online can assist you in doing so. Remember, it’s better to be safe than sorry when securing your digital assets.