Is it worthwhile to use mobile applications for cryptocurrencies?
Mobile wallet is probably the most popular and also the most convenient way to encrypt the keys for cryptocurrencies and carry out transactions with their participation. We can choose from dozens of different applications, especially for Android devices, but only a few mobile wallets is worth attention and also free of additional risk.
How to choose a mobile wallet?
First of all, it is worth to use a wallet that is open source, which means that its code is publicly available most often in the service called Github. What does it give us? Open source projects, even when we are not able to check their reliability and correctness of the code, it gives us a very high probability that the wallet is as safe as possible and there are no critical errors that are quickly caught by testers and users themselves.
It’s also worth choosing popular applications, which have been around for some time now, have a whole team of developers who are constantly working on updates and the community that uses this wallet. We shouldn’t fall for new and revolutionary wallets that pay for using them. This is usually a big scam.
Which mobile wallet is best for bitcoin?
Despite the fact that there is a lot of applications in themselves, in fact, there is only one favorite. It’s about Samourai Wallet. It supports only bitcoin.
It is incredibly easy to use for beginners and has advanced features that are unprecedented in other wallets for the sake of security and privacy. It is worth mentioning here:
- seed protection with additional security phrase,
- Ricochet, which breaks down our transaction into an additional four, increasing our privacy,
- support for SegWit and all formats of BTC addresses
- The possibility of creating a so-called PayNim, which is a kind of nickname, instead of a public address, which allows us to accept payments, but does not give the possibility to check the history and balance of our address,
- Whirlpool function, which is really a crypto mixer and allows you to anonymously send BTC from our address.
In fact, Samourai Wallet has no competition. However, it has two basic disadvantages. It is only available on Android and only supports BTC.
What if we have an iPhone?
The wallet for BTC, which is noteworthy for the iOS device, is of course Mycelium. It is also available for Android. When it comes to mulitwallets, which also support various cryptocurrencies, it is worth mentioning such applications as Coinomi and Exodus.