What's in your wallet?
Ever since Bitcoin exploded onto the scene in 2009, investors both large and small have flooded into the market. Despite being extremely volatile, Bitcoin and other cryptocurrencies are still a popular choice - thanks to the enormous potential for returns on investment.
Strangely enough, most folks don't pay much attention to how their cryptocurrencies are actually stored. Being digital assets, cryptos do not actually exist in the physical sense. Rather, they exist only on the blockchain - a digital ledger that records transactions and proof of ownership
Because of that, cryptos are stored on specialized crypto wallets. These wallets range from apps for smart devices and PCs to a simple piece of laminated paper.
For those looking to invest in Bitcoin and other cryptocurrency, we've put together a list of the best crypto wallet apps available on the market now.
Simple, straightforward, and easy-to-use are the three words that describe Exodus. Built with first-time users in mind, Exodus features a user friendly interface that is incredibly intuitive to use.
Pair this with extensive cryptocurrency support (more than 100 different varieties) and excellent customer service, and you've got a great app. Thanks to its popular crypto swapping feature, Exodus provides first-timers with a solid platform to begin exploring the world of cryptocurrencies.
However, it should be noted that Exodus is a closed source app - meaning that members of the community cannot view Exodus's code - something that goes against the open nature of Bitcoin.
The lack of features may also put off more advanced users looking to get more out of their crypto wallets.
Named for the fungus used to create antibiotics, Mycelium is an open-source wallet that only supports a limited number of cryptocurrencies. These include Bitcoin, ETH, ERC-20 tokens, and FIO tokens.
Unlike other apps on this list, Mycelium is exclusive to mobile users only - meaning that you won't be using Mycelium on your PC anytime soon.
On an interesting note, Mycelium is something of a hybrid crypto wallet. The mobile app provides interface support with hardware wallets from Trezor, Ledger, and KeepKey. Thus letting you monitor your cryptocurrency stored in your cold wallets from your smartphone.
In many ways, Electrum is fairly similar to Mycelium. Both wallet apps are open-source and both have a simple design interface that is easily understood by users. Also, Electrum and Mycelium support a relatively limited number of cryptocurrencies.
Being one of the oldest crypto wallets developed, Electrum also promises many features that will be appreciated by experienced crypto enthusiasts.
These include the option to set custom transaction fees and the ability to choose between legacy Bitcoin and Segwit. As a nice touch, Electrum let's users tinker with various security features.
Tezro is one of the newer crypto wallets on this list but more than makes up for it with the myriad of features on offer. You'll immediately notice that Tezro also doubles as a secure messaging app with the option to send, receive, and exchange both fiat and cryptocurrencies in chat.
In conjunction with the app's escrow service, Tezro also features a marketplace where buyers and sellers can communicate with one another. To ease the flow of business, all transactions are processed in-house by Tezro.
They also have a blog section where you can find a list of useful articles, like this one about the best crypto wallet apps: blog.tezro.com/best-crypto-wallet-apps/
Coinbase holds the distinction of being one of the most popular crypto exchanges in the world. So it's only natural that the company would go on to offer their own crypto wallet services.
Licensed and regulated by the U.S government, Coinbase provides support for a variety of cryptocurrencies and NFTs - a nice feature given how popular NFTs have become.
The company also boasts an impressive range of security features with a variety of backups in place.
And so there you have it, a selection of the best crypto wallet apps available in 2021. As with all cryptocurrencies, always remember to be careful when trading.