Cryptocurrencies wallets are a virtual space where you can store your capital. However, you cannot watch it like a physically existing wallet, so you should choose a software that will provide you with maximum security. Let’s take a look at what kind of desktop wallets are worth recommending.
Cryptocurrencies wallets – basic information
Cryptocurrencies wallets is a solution that was a response to the expectations of Internet transaction users. When operating on the stock exchanges in the network, we must be aware that adequate security of our capital is the basis for obtaining optimal profits. All the advantages of cryptocurrencies, including the fact that transactions are carried out without the assistance of banks or other financial institutions, are also associated with the risk of lack of control over how they are actually carried out. The way in which our money will be secured depends only on us. Wallets are a good option for holding assets, because most of them provide quite solid collateral.
Cryptocurrencies wallets – types of wallets
Cryptocurrencies wallets are generally divided into two types. The first one is cold wallets. These are separate devices that do not have an Internet connection. Using them in this way may not be so comfortable, but it is very safe. It is important to buy them directly from the manufacturer, which allows us to avoid the risk of interference of other people in the structure of the software. The second type of wallets are hot wallets. They are very pleasant to use because they exist in the form of software that we install on our computers or phones. Of course, connecting our wallet to the Internet involves the risk of hackers, but if we choose a properly secured wallet and use it wisely, we are not at risk. Hot wallets are also a much cheaper solution.
Cryptocurrencies wallets – security
If you decide to install a desktop wallet, i.e. one that can only be used on a computer, you should be aware of the security measures you should use. The absolute basis is the key. A key is a private password that allows you to use your wallet. We must remember that the key should be generated in an offline environment and that only we can access it. Keys that have a minimum of 30 characters work best. The second type of security is backup, which will make our resources secure even in the event of any software failure. It is also important to properly configure the operating systems on your computer. Encryption of the disk on which we intend to store our funds will certainly not hurt either.
Cryptocurrencieswallets – prices
As we have already mentioned, warm wallets are a cheaper solution than cold wallets. A separate device, which will be a wallet for our crypto really provides a lot of security, but at the same time is associated with an expense of several dollars. Wallets that we install on our computers is a much more convenient solution in terms of the fact that it is free. The software can be downloaded from the Internet without paying a penny.
Cryptocurrencies wallets – which desktop wallets are worth recommending?
The choice among desktop wallets is quite large, but it is worth to think about our decision in this matter. One of the indicators of a good wallet is the trust of other users who have more experience in this field. Let’s see which desktop wallets are the most popular:
Bitcoin Core – original Bitcoin software, its advantage is certainly the fact that it is a full wallet, i.e. one that is entirely kept on our hard drive, the disadvantage of this solution is unfortunately that it takes up a lot of space on the computer.
Armory – one of the most extensive wallets, will be useful for a more advanced user, it is also available in full version.
Electrum – the most recommended wallet is very fast and lightweight, it can provide additional support for hardware wallets, works well for both beginners and advanced users.