Storing Crypto: Top 3 Solutions For Beginners

Storing Crypto: Top 3 Solutions For Beginners

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Choosing the right storage method makes all the difference when it comes to buying, selling, and generally managing your digital assets.

It’s important for you to know exactly what you’re holding and where, and how you can access it if you need, or want to. 

 

There are many ways you can store your digital assets, from crypto assets such as coins, tokens, NFTs and more.

Knowing what CEX and DEX's are, just leads us to a new set of options If you missed that post, check it out here. There are multiple wallets out there, whether they are CEX or DEX or even a hybrid that allows you to store crypto across multiple chains. Here are some of them:

 

 

Using CEX

 

METAMASK PHANTOM EXODUS
This wallet is very friendly for beginners and it offers a layer of security while you manage your transactions. Connect to dApps easily by using the mobile app or the browser extension. Metamask supports ETH tokens. This digital wallet was created for the Solana blockchain. It supports connections with hardware wallets such as Ledger and Trezor. It is non-custodial which means that the user can be pretty sure of the level of security. To carry out a transaction, you’ll have to make sure to have SOL tokens so you can pay the service fees each time. Easy to navigate and definitely a first love for beginners in the crypto space. It supports over 115 crypto assets and also boasts a desktop app as well as the possibility to pair the desktop and mobile apps together, so you can synchronize your view of your assets. It is a lite wallet and it has remarkable customer support. However, some users find this wallet to be not as secure as it's competitors, since it allows password retrieval via email, plus 2FA is not supported.

 

 

Using DEX

 

BINANCE KRAKEN COINBASE
This is a secure multi-currency wallet and the liquidity is an important advantage since is the world’s leading cryptocurrency infrastructure provider. Its low fees and quick processing to open an account make it the favorite of many but it also has a complex interface that might be a little overwhelming for beginners. On the other hand, Binance is known for having a non-transparent structure that has caused regulatory problems in many countries. One of the oldest and largest exchange services. It offers almost 60 coins and a solid security system. It brings advanced trading features to experimented users. It has three levels of verification: starter, intermediate, pro. The first one is the only one that can be used without giving proper ID information; such as passing KYC. This wallet has a great cryptocurrency selection and a mobile app that is known for being user-friendly. You can have the best of both worlds with its beginner modality or pro mode for more experienced users. The best part is the Visa-branded Coinbase Card that allows you to expend your cryptocurrencies in the best way possible. A disadvantage can be the high fees for transactions.

 

You can also benefit from using wallets that act like a savings account. Cold wallets are used to store large amounts of cryptocurrencies that are not going to be touched for a while. Unlike hot wallets, as they don't have a permanent connection to the Internet, and as such, they offer unbeatable security.

 

 

Cold Wallets

 

LEDGER NANO X COOLWALLET PRO KEEPKEY TREZOR MODEL T
With over 1,800 tokens and currencies this device is ready to be configurated with your laptop or tablet. You can connect it via Bluetooth and USB. It allows you to manage your holdings fast and in a very intuitive way from your Android or iPhone. Some people might find the Bluetooth connection a security flaw, but the company assures that no critical data is transfered. Offers an extremely high level of security. It stores 16 important crypto assets and is looking to expand it's reach. A great feature is that it allows users to earn staking rewards. On the other hand, Its battery life of 2-3 weeks which is significantly lower than other contendents. This pendrive-shape wallet was created to work with Shapeshift currency exchange platform. Its software is open-source, you check it out on Github. In case of loss or theft, it comes with a personalized pin code. Compared to other cold wallets, it is considerably larger. The most outstanding feature is that it allows its users to interact with third-party exchanges. A touch screen and a security measure called Shamir Backup, allow you to share and retrieve your coins in case something happens to your device. There’s also QR code that the sender can scan. However, some users find it difficult to navigate, as the screen size is small.

 

The best way to step into this multiple-chain wallet world is by choosing the option that best suits you and sticking to it for long enough to exploit everything that it has to offer. Consistency and concentrating efforts are key. It can turn into a real headache to keep track of a bunch of different assets here and there once you become a regular investor. Keep it simple, or choose Blockchainr to manage all of your digital assets from one, easy to use interface.

 

We hope you enjoyed this post and learned something new!

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