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For storage and operations with cryptocurrencies, we recommend using the crypto wallet that will be most convenient and safe for you to use. Crypto wallets are divided into "cold" (or hardware) and "hot" (wallets available as web or mobile phone applications). In addition, there are different implementations of crypto wallets for different blockchains. The most popular "cold wallets" for using cryptocurrencies are Ledger, but if we talk about "hot wallets", we recommend using P2Payer crypto wallets.
Consider the most popular and convenient crypto wallets in our opinion:
Project site - Ledger Live
Ledger is one of the most popular "cold" (or hardware) crypto wallets. It is a device the size of a flash drive, which has a USB and Bluetooth interface. The cost of this crypto wallet (including shipping) is approximately $150.
Main advantages:
- security of storage of crypto assets. Since the Ledger is a hardware crypto wallet, it is extremely unlikely that the keys of your crypto wallets will fall into the wrong hands. But this condition only applies if you have not discredited your mnemonic phrase or wallet pin code.
- the ability to install desktop and mobile applications. The Ledger hardware wallet connects to your computer or device via USB or Bluetooth and you can use the user-friendly interface to work with your crypto assets.
- a huge number of supported blockchains and crypto assets.
Main disadvantages:
- small device screen and difficult navigation. For non-specialists and people who are "not friends" with technology - it's difficult.
- security is relative - to secure crypto assets, you need to store mnemonic phrases (24 words) in a safe place. If the user does not understand how to store these phrases correctly and safely, all efforts will be reduced to 0. It is necessary to additionally consider how and where to store the phrases (on electronic media or on paper or in a crypto container) - this is the user's concern.
Project site - P2Payer crypto wallets
Hot cryptocurrency wallets are wallets whose functionality is provided by online services. These wallets are usually available as web or mobile applications. Here it is necessary to choose the most secure and reliable services, taking into account their functionality and implementation. We recommend paying attention to the P2Payer.com service - this is a multifunctional payment system and freelance service, which also contains convenient functionality for operations with cryptocurrency wallets.
Main advantages:
- Relatively high security. Despite the fact that the functionality of crypto wallets is presented in the form of a P2Payer web service and mobile applications, the implementation is quite successful - a separate crypto container is formed for each user's cryptocurrency wallet. The transaction signature system is also highlighted separately - access to it is limited, incl. for system developers.
- Ease of use. Firstly, it is enough for the user to register and receive the address of the cryptocurrency wallet, and it is already ready for work and activated (the system automatically optimizes the management of the so-called "gas" and the user does not need to worry about the cost of transactions - only service fees apply).
- Convenient and not significant limits and restrictions. You can store up to $50,000 in total equivalent without the need to go through KYC. Passing the identity verification procedure will be required if the amount of funds on your wallets in the system exceeds $50,000. For users who have not passed the identity verification procedure, a daily withdrawal limit is set in the total equivalent of 5,000 US dollars. A limit of up to $250,000 every 24 hours will be available if you go through the identity verification process.
- Multilingual support. The functionality of crypto wallets is available in more than 24 languages of the world - one of the reasons why this service is very popular in many countries.
- Additional features. You can create "fundraising" pages and even connect your online store. Also, the functionality of P2P-exchange of cryptocurrencies for fiat currencies is available.
Main disadvantages:
- limited number of cryptocurrencies and blockchains. The service operates only with the most popular crypto wallets (for example, USDT on the ERC20/Ethereum network, USDT TRC20/Tron, USTC, Bitcoin, ETH, XRP/Rippple). However, the number of cryptocurrency assets connected to the service is gradually increasing.
We told you about which cryptocurrency wallets are the most convenient in our opinion and what are their features. The decision of which cryptocurrency wallet to choose in the end is up to you!
