Types of Crypto Wallets & Which is the best? 👍🏻 ~ CEOM Coin

Hey Carlos

In today's lesson, let's understand the different types of crypto wallets with examples.

Hardware wallet:

Hardware wallets are the most secure way to store your cryptocurrencies. This is because the seed word and the private key are never exposed to the outside world. A hardware wallet is a USB or mobile phone device that connects with your laptop or mobile phone via USB cable or Bluetooth.

Example:

Mobile wallet:

Crypto wallets are available in the form of mobile apps and are widely used because of their ease of use. One should use a mobile wallet to store a small quantity of cryptocurrencies, and here are some of the top mobile crypto wallets:

Trust Wallet (Multi-crypto wallet)
Atomic Wallet (Multi-crypto wallet)
Phantom wallet (For Solana)
Metamask (For Ethereum)

Exchange wallet:

You can always buy crypto on an exchange and move it to your private wallet when you are just an investor. However, when you are a trader, you need to keep your cryptocurrencies on an exchange. This is where it is vital that you use a secure wallet, and often the security of an exchange wallet is much better than your mobile crypto wallet.

Here are three trusted exchanges out there:

Note: If you plan to store any crypto for a long term, you should store it in your private wallet. As you often miss out on airdrops when using an exchange wallet.

Browser wallet:

These are add-ons and extensions for your web browser, such as Chrome, Brave, and Firefox, which works as a browser wallet. In my opinion, they are highly secure, but you can use them along with a hardware wallet to make your security top-notch. The advantage of a browser wallet is that it makes it easier for you to interact with decentralized apps.

Here are the best browser wallets as of today's date:

Desktop wallet:
Another popular type of crypto wallet is the Desktop wallet. These wallets come in the form of a desktop app and let you store, send/receive cryptocurrencies. A few also offer an in-built crypto exchange, thus making your experience wholesome.

Some of the popular desktop wallets are:

There are more classifications of crypto wallets such as :