[Best] Cryptocurrency Wallet [2018]

                                Cryptocurrency Wallet

Best Cryptocurrency and Blockchain Wallet in 2018

Everyone is talking about cryptocurrency now-a-days.Seriously guys Bitcoin is talk of the town.I hope all the readers of this blog is familiar with "What is Cryptocurrency?".Incase anyone of you have missed our detailed article on cryptocurrency then please read it before moving forward for better understand of "cryptocurrency wallet".

We will be discussing from scratch about cryptocurrency wallet and trust me guys anyone and everyone can understand our tutorials.While preparing for our tutorials we do keep in mind to explain every aspect of concept in the easiest possible ways.

[Cryptocurrency Wallet]

  • A software program that interacts with various blockchains for digital currency transaction.
  • Stores information regarding public and primary key.
  • Monitors the cryptocurrency balance.
  • Cryptocurrency wallet is must for digital currency transaction.
Let's understand it with an example .Suppose you have a 500 rupees note and you purchased some fruits and vegetables .Now you are left with 300 rupees.So you need a wallet to store these rupees for future use.Similarly you can trade any cryptocurrency like Bitcoin in exchange but to hold any cryptocurrency for future you need a secured hardware cryptocurrency wallet.

                                [Cryptocurrency Wallet Working Procedure]

In general if you have a wallet you will store their notes or coins which is tangible in nature.You can touch and feel it.
Does the same happen in case of cryptocurrency wallet?
My answer is a big NO. Cryptocurrency wallet reads the record of transaction.Infact the wallet has an interface through which it interacts with various blockchains and reads the transaction data.Lets understand with an example of Bitcoin transaction.Their are two cryptocurrency users A and B respectively.A wants to transfer one Bitcoin to B.So first thing A will do is that he will assign bitcoin your wallet address .This will be the public key for Bitcoin transaction.Now you want to see an increase in the bitcoin amount in your wallet.For this your wallet private key should match the public key.Once matched your cryptocurrency wallet amount will increase and his will decrease.So their is no physical transaction as it happens in case of fiat money.The transaction is justified by the
 records available on blockchain.

Cryptocurrency wallet and blockchain wallet transaction procedure




                                       [Types of Cryptocurrency Wallet]


Cryptocurrency wallet can be categorised into three category i,e Software,Hardware and Paper.

Software wallet consists of three modes i,e Desktop,Online and Mobile.Lets discuss each one by one.

Desktop-The best thing about this type of cryptocurrency wallet is it's high level security features.You can download and install this wallet for your computer or laptop.Remember this wallet will only be accessible on the computer or laptop you have downloaded it.In case your computer or laptop is hacked then you may lose your bitcoin or other altcoin.

Online-These wallets are easily accessible from any computing device and location.The only things you need are laptop and internet.These wallets are stores on cloud and store your private key.These cryptocurrency wallets are controlled and maintained by third party .Their is always a high chance of theft since private key is stored online and can be obtained by hijacking.

Mobile -These cryptocurrency wallets run on mobile app.They are simpler and easy to use.They have limited functionality due to restriction of space.I have written a detailed article on Zebpay Bitcoin mobile wallet.

Moving further we will discuss Hardware wallets.These wallets are essential in case you want to hold your cryptocurrency for long time.



These wallets look like USB which basically stores your private key offline.Storing your private key offline helps your cryptocurrency like bitcoin to be secured and free from online hacking.For doing bitcoin or altcoin transaction you need to connect your hardware wallet to internet .Hardware cryptocurrency wallet are compatible with various web interface.Ledger Nano S is an example of hardware wallet.

Paper-This wallet is secured and to understand it in easy words just think it as printing of private and public keys.A software can be used to generate a pair of keys which can further be printed on a piece of paper.The best part is that the pair of keys are generated offline.


                                [Are Cryptocurrency wallet secured?]

Trust me guys ! Nothing is fully secured in this world.You would have sure heard that the highest security has been breached .Only thing we can do is to decrease the probability of theft or hacking.Online wallets are more prone to hacking.On the other hand using wallets like Ledger Nano S and paper wallet definitely bring down the risk quotient.Remember to keep minimal amount in your online wallet.These amounts should be almost equal to or slightly greater than the amount you need for daily transaction and rest should be kept in hardware or paper wallet.If hardware wallet is lost then it can be recovered .It also protects you from computer failure but it also has limitation.
It can protect you against eager hacker.If still you are not convinced and wants to totally rely on online wallet then please do update your software on timely basis.Remember to activate two factor authentication.Binance is one of the fastest growing cryptocurrency exchange and do provides you a mobile app for both android and iOS for transaction.

                              [Can we use multiple currency wallet?]

Yes, definitely you can .No doubt about it.It's good to use same cryptocurrency wallet for multiple altcoin.Just you need to check your wallet specification and before buying do a online research on various wallet available and what all the cryptocurrency are they supporting.

                                                              [Transaction Fee]

On an average $0.12 or 18,080 satoshis is charged for a transaction of 226 bytes.But if you talk about what is fee per transaction? I will say that their is no definite answer to it.We can't say in yes or no but in fact their are shades of grey.Some transaction charge you fee as miners need to be paid while other don't.You can also set your own transaction fee limits.Lower the fee less will be the priority of transaction.Sometimes it an even take days to complete your transaction.Miners will always give priority to higher fee for transaction.


                    [Are cryptocurrency or Bitcoin wallet anonymous?]

In future we may find cryptocurrency wallet with full anonymity.Coin mixing and stealth addresses can help us to achieve anonymity .We all know that all the transaction data are recorded on blockchain in public domain .These blockchains have public address of all the wallets used for transaction and from these public addresses anyone can reach to the wallet by doing reverse engineering.

Now we have reached to the last topic of our article.Let's discuss in detail the best cryptocurrency wallet for 2018.

                       [Popular Desktop Cryptocurrency Wallet]

Exodus-Founded in July 2016,this desktop cryptocurrency wallet known for its unique design and customizable features is one among few desktop wallet which supports multiple cryptocurrency.You can exchange coin in your wallet only by running shapeShift exchange.
Compatibility : 

Full ShapeShift Functionality.
Linux,Windows(64 bits) and Mac OS.

Charges-A small portion for each transaction but you can't set transaction fee manually.

Currency Support-
  1. Aragon (ANT)
  2. Gnosis (GNO)
  3. OmiseGo (OMG)
  4. Qtum (QTUM) (ERC20)
  5. Basic Attention Token (BAT)
  6. Civic (CVC)
  7. SALT(SALT)
  8. Bitcoin Cash (BCH)
  9. Ethereum Classic (ETC)
  10. FunFair (FUN)
  11. District0x (DNT)
  12. Bitcoin (BTC)
  13. Litecoin (LTC)
  14. Ethereum (ETH)
  15. Dash (DASH)
  16. Golem (GNT)
  17. Augur (REP)
  18. Decred (DCR)
  19. EOS (EOS)

[How to store digital money in exodus cryptocurrency wallet?]

First you buy cryptocurrency like bitcoin with fiat money and remember to buy it from exchange like Coinbase as it supports transaction in 32 countries.Now transfer it to exodus cryptocurrency wallet.


Cons-
  1. Their can be security breach due to lack of two-factor authentication.

Pros-
  1. Well designed interface to support analytical chart.
  2.  Definitely a good choice for cryptocurrency investor or portfolio builder.
  3. A dozen cryptocurrency support.
  4. Supporting tutorials and videos.
  5. Customized for beginners.

Jaxx-The USP of this desktop wallet is integration of ShapeShift with multiple coin support and highly user friendly nature.

Compatiple-Windows,iOS and Linux desktop.

Supporting Currency-
  1. REP
  2. Litecoin
  3. DAO
  4. Etherum Classic
  5. Dash
  6. Etherum
  7. Bitcoin
Cons-
  1. Lack of two factor authentication.

Pros-
  1. Beginner's first choice.
  2. Open Source.
  3. Supporting multiple range of currencies.
  4. Highly compatible with desktop.

Armory-The USP of this cryptocurrency wallet is high level of security.Introduction of cold storage facility has helped users to save private key offline.Armory doesn't stop here but also provides you an option of multiple address set so as to distinguish your personal bitcoin from professional one.While sending your bitcoin you can add an additional layer of security by using password protected feature.

Compatibility-Linux,Windows and iOS.

Supporting Currency-Only Bitcoin.

Cons-
  1. Lack of two factor authentication.
Pros-
  1. Highly secured.
  2. Multi signature cold storage support.

                             [Popular Mobile Cryptocurrency Wallet]



Bread-
  • Free digital wallet app for Bitcoin.
  • First choice for beginner's and non technical users.
  • USP of bread is user friendly and high security.
Compatible-iOS and Android.

Supporting Currency-Bitcoin

Cons-
  1. App freezing issue.
  2. Lack of two factor authentication.
  3. Lacks multi signature transaction.
  4. Lacks replay protection.
Pros-
  1. Free.
  2. User friendly and easy to use.
  3. No need to register to start.
  4. Touch ID login option.
  5. Connects directly to Bitcoin network.
  6. Every transaction is sync with new wallet address to enhance security as well as privacy.
Download Bread from playstore or apple store.

Mycelium-
  • A mobile wallet that allows you to store,send and trade bitcoin.
  • Provides enterprise level security.
  • Single and multiple account option available.
  • Offers five account types i,e Hierarchical Deterministic(HD),Bit ID(open protocol),Single Address Accounts,Watch only and Hardware for offline.
Compatibility-Android and iOS.

Supporting Currency-Bitcoin.

Cons-
  1. Lacks desktop interface.
  2. Not user friendly for beginners.
Pros-
  1. High Brand value.
  2. Open Source.
  3. Fast and safe connection to Bitcoin network.
  4. Easily integrated with hardware cryptocurrency wallet Ledger Nano S and Trezor.

                            [Popular Cryptocurrency Hardware Wallet]

Ledger Nano S-
  • USB Connection.
  • OLED Display.
  • PIN
  • Backups
  • Advanced passphrase.
Compatibility-
  • Windows (7+), Mac (10.8+), Linux.
  • Software Wallets supported-GreenBits,Ledger Wallet Bitcoin, Ledger Wallet Ethereum, Ledger Wallet Ripple, Copay, ElectrumMycelium, MyEtherWallet and BitGo.

Supporting Currency-
  1. ZCash
  2. Dash
  3. Stratis
  4. Ripple
  5. Hello
  6. Bitcoin Cash
  7. Komodo
  8. Ethereum Classic
  9. Bitcoin
  10. Ethereum
  11. Litecoin
  12. Fido U2F
  13. Dogecoin
Cons-
  1. Not very encouraging reputation.
Pros-
  1. Affordable.
  2. Wallet Software Integration.
  3. OLED Display.
  4. Multiple Cryptocurrency Support.
  5. Ledger Nano S Bitcoin Ethereum Crypto Altcoin Litecoin Ripple Wallet BRAND NEW SEALED IN BOX



TREZOR-

  • Cross Platform Support.
  • Two factor authentication.
  • PIN Protection.
  • Recovery Seed.
  • Single Purpose Device.
  • Limited Surface Attack.
Compatibility-Windows,iOS and Linux.

Supporting Currency-BTC,Dash,LTC etc.

Cons-
  1. High Cost.
  2. Limited Transaction Opportunity.
Pros-
  1. Multi Layer Security.
  2. User Friendly.
  3. Multi Currency Support.
BUY at best offer Trezor bitcoin wallet, Black


KeepKey-

  • USB Connection.
  • OLED Display.
  • Recovery Sentence.
  • Private Key.
  • PIN.
Compatible-Mac,Linux and Android.

Software Wallet Support-Electrum, MultiBit and Mycelium

Supporting Currency-

  1. Bitcoin
  2. Ethereum
  3. Litecoin
  4. Dash
  5. Dogecoin
  6. Namecoin
Cons-

  1. User can't save their progress.
  2. Big size leads to portability issue.
Pros-
  1. Highest Level of Security.
  2. Multiple Currency Support.


I hope this article would have given you a fair idea about some of the well known cryptocurrency wallet .Don't miss out the below articles.


  1. Betchain
  2. Fastest growing cryptocurrency exchange
  3. Ripple XRP







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