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What is a cryptocurrency wallet?

A “wallet” is basically the equivalent of a bank account. It allows you to receive bitcoins and other coins, store them, and then send them to others.

You can think of a wallet as your personal interface to the Bitcoin network, similar to how your online bank account is an interface to the regular monetary system.

Wallets contain private keys; secret codes that allow you to spend your coins. In reality, it’s not coins that need to be stored and secured, but the private keys that give you access to them.

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Exodus Wallet

Exodus Wallet has a lot to offer as a cryptocurrency wallet. From a slick interface, to a built in exchange, Exodus is one of the most popular cryptocurrency wallets on the market. The wallet displays all your cryptocurrency in an illustrated manner, like a stock portfolio, complete with graphs, charts and more. It’s an excellent way to store multiple cryptocurrencies and get an idea of how all your coins are doing. In other words: investors will like Exodus. There is no account setup, so your currency and wallet are just for you. Exodus gives you a private key to access your bitcoin, as well as other useful security tools to keep your assets as safe as possible. Remember, though, that your private key is stored on your computer. Make a backup of the key to ensure it’s safe just in case your computer is stolen or dies.

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Coinomi Wallet

Coinomi is a digital wallet founded in 2014 by a group of experts in blockchain technology led by George Kimionis. Being one of the oldest wallets, it is used by millions of users, offering one of the broadest supports on the market with 125 Blockchain networks and up to 382 different tokens. It is available in the vast majority of countries, since having the feature that anonymizes IP addresses adds a new level of security, especially useful for those who receive money in countries considered insecure.

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Trust Wallet

Trust Wallet gives you a simple mobile application for managing your tokens and coins and allows you to be in full control of your private keys at the same time. With Trust, you can store the vast majority of tokens on the market with more projects and blockchains adopted all the time. Trust’s Universal Wallet (or multi-coin wallet) lets you have one backup for all your assets simplifying wallet management. And of course, Trust works great with decentralized exchanges. Trust Wallet includes a built-in Web3 browser that allows you to explore DApps of the decentralized internet seamlessly and safely. Since blockchain is a new and complex technology, you can rely on Trust DApp Marketplace to guide you through it. It is a place for decentralized applications that meet rigorous quality and security standards and are optimized to perform at the highest level.

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Ledger Nano S

The Ledger Nano S is one of the most popular hardware wallets for Bitcoin and other cryptocurrencies in the world. It’s also one of the best entry-level cold wallets for people just getting into Bitcoin. Ledger itself is a French company that helped pioneer the hardware wallet space when it launched in 2014. The Ledger Nano S, its first product, quickly took off as the de facto wallet of choice for crypto enthusiasts thanks to its ease-of-use, security, small device size, and affordability.

The Ledger team regularly updates the Nano S and it now supports over 1,100 different digital assets. It also connects with Ledger’s proprietary desktop software called Ledger Live, which makes checking your balance incredibly easy. To date, Ledger has sold millions of wallets in over 165 countries with 100+ resellers spread around the globe.

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Trezor Model T

The Trezor Model T is a great cryptocurrency hardware wallet for beginners because it’s easy to set up and use, it allows you to purchase assets and tokens directly through the Trezor Wallet application, and you can exchange your assets and tokens within the app as well. This combination of features makes it a good option for crypto beginners because they do not have to register with an exchange in order to make their first purchase of cryptocurrency coins or tokens, something that most other software wallets do not offer, and the Ledger hardware wallets do not offer this either. The same can be said of the ability to exchange or swap cryptos when comparing Trezor to Ledger hardware wallets.