5 Crypto Wallets You Have To Know About
This is not countdown but review on – Where to hold your digital money. Not hardware wallets that are for sure most secure. But web and software wallets – that are more popular now.
MetaMask is not a ledger or wallet but “a bridge that allows to visit the distributed web of tomorrow in the browser today. It allows to run Ethereum dApps right in the browser without running a full Ethereum node”. In plain English it is browser extension. But MetaMask also includes a secure identity vault, providing a user interface to manage a person identities on different sites and sign blockchain transactions. One can install the MetaMask add-on in Chrome, Firefox, Opera, and the new Brave browser A developer can start developing with MetaMask. The team claims: “Our mission is to make Ethereum as easy to use for as many people as possible”. The MetaMask browser extension turns Google Chrome into an Ethereum browser, letting websites retrieve data from the blockchain, and letting users securely manage identities and sign transactions. When you start up MetaMask, you are given a seed phrase that can be used to restore all the accounts you ever create within MetaMask. Account vault is encrypted and locally stored within the browser, meaning no account information ever touches MetaMask servers. At first glance, Metamask enables you to send Ether like a normal wallet application, but Metamask’s true strength lies in enabling the browser to visit Ethereum enabled websites. With Metamask one can switch what network to work on, and even issue a token with the full security of the main Ethereum blockchain.
Jaxx is the world’s first mobile wallet solution. It is multiplatform – versions for iOS, Android, desktop and browser are available. And multicurrency – 70+ assets supported. The latest release is Jaxx Liberty, “builds on the success of Jaxx”. Jaxx uses a mnemonic seed to back up your wallet or transfer it to a different device. Jaxx allows receiving funds, scan QR code, view crypto holdings. And all of this in one app. Advanced features such as shapeshift integration and multiple platforms wallet linkage makes Jaxx the preferred wallet for the tech savvy. But it is noted that Jaxx features may be unstable with new integrations. And perhaps it is not best choice for novice with “a steep learning curve”.
Electrum is a fast, lightweight wallet for desktop and mobile users. It has a long list of supported features that make it one of the most flexible wallet now. It offers cold storage solutions, integration with hardware wallets. And even able to achieve anonymity (with Tor) – software wallets usually are not anonymous. Electrum is one of the most secure – it enables multi-sig support. And it is not tied to a centralized server, so server downtime will not be an issue. Overall, Electrum is the established software wallet solution out there that warrants a try-out.
Coinbase is one of the biggest cryptocurrency exchanges and provides its users with an online wallet where they can store their funds. This is convenient, but when storing cryptocurrency on an exchange, you do not hold the private keys to your coins. In the case that exchange is hacked, you would most likely lose your assets. Anyway Coinbase comes with many benefits for newcomers. Most notably, the service is very well known and supported. It provides “the easiest and most secure crypto wallet”. Wallet is a user-custodied digital currency wallet and DApp browser. The private keys (that represent ownership of the cryptocurrency) are stored directly on user’s device and not with a centralized exchange. You do not need a Coinbase Consumer account to use wallet and you can download the wallet from anywhere in the world. Coinbase wallet gives access to a wide spectrum of decentralized innovation – buy and store ERC-20 tokens, participate in airdrops and ICOs, collect rare digital art and other collectibles, browse DApps, shop at stores that accept cryptocurrency, and send crypto to anyone.
Endpass seems to be “an Ethereum and token wallet you’ll be delighted to use”. It is a web wallet that puts you in control of your keys, secures your funds, and automatically optimizes transactions. Main features: automatic ERC20 token airdrop notifications; secure encrypted cloud backup and sync; you control your private keys; single wallet for all devices; multifactor security and bank-grade encryption. Automatic transaction fee means you don’t have to worry about choosing the right gas price. Simply choose a priority level for transaction and the wallet’s prediction algorithms will select the optimal gas price. If a transaction does get stuck, you can resend it with a higher fee or cancel. With automatic token detection Endpass instantly discovers all tokens in the wallet at any Ethereum address and notifies incoming funds. The encrypted wallet can be backed up to cloud or to own server. Multi factor security means that funds are protected by multiple layers of security, including two factor authentication, email confirmation, and more. Endpass is a fully decentralized wallet. And last but no least – it is open source and community driven.