One of the most important steps related to the management of cryptocurrencies is definitely the one related to the choice of the cryptocurrency wallets of reference that allow to safely store our investments. In this regard, virtual wallets have been created specifically, the so-called wallets where we can buy/sell or even just store our cryptocurrencies. But, how you can choice the best crypto-wallet? We asked this question to one of the most knowed entrepreneur in this industry, Jason Hsu, cofounder of KryptoGO USA, a SaaS provider for affordable and lightweight KYC/AML solutions.
First of all, what is a cryptocurrency wallet?
Jason explains, before addressing the dynamics that characterize the different cryptocurrency wallet models that are present online, we thought we would first clarify a few points. First of all, a cryptocurrency wallet is to be considered as an electronic wallet to be used to accumulate and protect our cryptocurrencies. Thanks to its protection system, the owner can communicate with the blockchain and perform transactions with Bitcoin, Ethereum, Ripple and other cryptos.
On this wavelength, these innovative devices make it possible to keep digital currency safe at all times through a complicated system of keys and cryptocurrencies that attest to its operational security. This security prerogative must be a constant for any self-respecting wallet.
In general we can say that cryptocurrency wallets can be physical or virtual depending on the use we have to make of them, we find them in hardware or software format, but what is the difference? Well software wallets are online platforms while hardware wallets are USB sticks.
Particularly interesting on a practical level were the paper wallets, websites that generated QR code containing the address and key but after 2017 they were not excluded from the games.
There are several Wallets for Bitcoin on the web, but how to choose the one that best suits our needs?
Every day we are bombarded by a sea of advertising about the world of cryptocurrencies and digital wallets to use for conversion and exchange of these “coins”, but for those who have little knowledge on the subject is difficult to choose, so we recommend those who in our opinion are the two most reliable and advanced.
The first one I want to talk about is eToro, wallet belonging to the famous online trading platform used by millions of users around the world. This digital tool is totally free to download from Google Play for Android users and from the App Store for Apple users, and allows you to receive and transfer 120 types of cryptocurrency, including Bitcoin of course, all according to security parameters and ISO standardization protocols.
The second instead is Binance, which presents itself as an exchange platform, focusing on the exchange between crypto and crypto, unlike the traditional tools of exchanging crypto into money and vice versa. To date it is one of the most appreciated and recognized in the world, and has carved out a really important space within this sector in spite of a large competition.
On the official website you can find all the information to access it and a complete guideline that can lead you step by step to what you need in a very simple way and in a very short time.
Try it to believe!
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