For the avid cryptocurrency investors out there, you’re likely looking for a seamless way to keep your invested currency stored in a location that’s not only encrypted and easy to access, but is with you at just about all times.
As you might already know, there are two key types of wallets, which are the hardware wallets and digital wallets, and both of which have their own perks depending on how you like to store your coins.
For some, it seems safer and is more effective to keep all of your coins stored on something like a hardware USB wallet, however, for the investors who need easy access to quickly invest and withdraw coins, a digital wallet is going to be something better for you to consider.
That in mind, we’ll take a look below at some of the best crypto wallets out there and which might be best for you this year.
What is a Cryptocurrency Wallet
If you’re new to to the crypto game, there’s a good chance you’re a little confused about the term ‘cryptocurrency wallet,’ and that’s all well and good. As you might know already, cryptocurrency comes with a few added requirements when compared to traditional currency — and that includes needing its own type of wallet.
Unlike fiat currency, or standard ‘money,’ crypto isn’t able to be stored in your standard bank account when you invest in it. This means that you’ll need to purchase the coins you’d like on an exchange and then move them from this exchange to a secured wallet.
To make this process a little easier, there are platforms out there that take care of the wallet part of this for you, like Independent Exchange who offer their own wallet solution.
However, for those exchanges and purchases that didn’t come with a wallet, you’ll need to store these crypto keys somewhere on your own — like the crypto wallets for smartphones below.
The Independent Reserve Wallet
At the top spot on our list for ease of use, security and simplicity is Independent Reserve’s wallet that comes built into the trading platform.
You’ll be able to use this wallet either online or on your smartphone and we’re confident in saying that is really is one of the most feature packed and easier crypto wallets to use. There’s built in trading features here too, which means, should the time arise, you can easily invest your cryptocurrency directly from the wallet to the exchange.
There are ultra-low fees here as well, with fee-free deposits on offer here and trading fees from the wallet coming in at just 0.5 per cent down to 0.02 per cent.
ZenGo
Another incredible and easy to use cryptocurrency wallet for smartphones is the ZenGo wallet.
This wallet offers a tonne of security features as well as the option for your swap and buy currencies right from the wallet like Independent Reserve, which means you’re not stuck with lengthy transfers and slow crypto movements that might leave you missing out on a buying opportunity.
On top of this, there’s an incredible user interface here that scores ZenGo high for us given that it’s perfect for beginners.
That in mind, there are some rather low fees for using the trading features here and the wallet is entirely free if you’re only using it to store coins.
Coinomi
Our third top choice for the best crypto wallet for smartphones is the Coinomi wallet which comes with a stellar 4.6 stars on Google Play.
It’s one of the more secure wallets on the market today and the wallet is constantly improving the security of the platform and makes this known through their website and blog posts.
There’s a quick install process here too, which means you’re not waiting long to get the app downloaded and ready to use.
One final thing to keep in mind is that the wallet doesn’t require you to offer up too much identification information, if any at all. This further highlights the focus on security and privacy.
Abra
The final top choice crypto wallet landing on our list is the option from Abra which essentially comes with support for three of the largest coins and has some credit card integration too.
With those features and support for trading and exchanging both crypto and fiat, you’re in good hands is you do want to get in on some price fluctuations when you’re on the go.
You can trade a tonne of other coins on the Abra wallet too, with 27 supported as of writing, however you can’t store these ones on the service — which means you’ll need a second wallet for these crypto assets.