The world has been stepping up the digital ladder and with the emergence of cryptocurrencies, several services have made the virtual world, and amongst them were crypto wallets. However, these wallets exist in both software and hardware and can be used to exchange crypto, save crypto, stake and hold crypto depending on your decisions.
You must’ve heard about the Coinbase wallet, Electrum wallet, Trezor wallet, Ledger Nano wallet, and more. Well, they are indeed all exclusive wallet services to help you with your cryptocurrencies but, two of them are software wallets and two are hardware wallets.
Here, in this read, we’ll help you understand the types of crypto wallets, which can further help you in deciding which of the wallets you should opt for.
Learn specifics about the Software Wallet
We know that cryptocurrencies are the new age money that is considered to be digital assets and does not have a physical appearance. Software wallets are basically, online programs that can be used to store all your virtual assets.
It can be accessed using your smartphones, and laptops (or computers) on the official website or the official application. Although it seems like a great idea as it is efficient and feasible, it does have its downfalls.
It can get hacked by cyber crooks and might harm your funds. So, when we talk about choosing between Electrum wallet, Trezor wallet and any other wallet- we suggest you prefer a hardware wallet.
Learn specifics about the Hardware Wallet
Think of the times when you choose to save important documents, data files, audio files, and images on a laptop or say a hard disk. Well, a hardware cryptocurrency wallet is no different from that. It simply means you can save your digital assets on an external object and be free of all online threats.
It eliminates the risks that a software wallet comes with- chances of falling victim to cyber-attacks. As mentioned above, whatever the choice is- the software Electrum wallet, Trezor wallet (hardware), or any other wallet variants, it is always recommended to head for a hardware crypto wallet.
They can help you with storing, exchanging, trading and even investing along with an added benefit of getting stored offline that keeps it away from the reach of any online harm. It can be connected to a computer easily and transferred as and when you want.
The detailed read above has been carefully designed to provide you with exclusive details and/or information on the two types of crypto variants- software crypto wallets and hardware crypto wallets. Reading on you’ll know specifics about both variants that will help you make a decision on which is the best option for you and your crypto funds.
There might be a long list of crypto wallets- Exodus, Coinbase wallet, Mycelium wallet, Electrum wallet, Trezor wallet, Ledger Nano wallet, and more. The above read will help you choose, after all, your crypto funds are digital assets, and assets should get the best of everything.