When Satoshi Nakamoto introduced Bitcoins in 2009, the world of finance was changed forever. Nowadays, Bitcoin has become something of a mainstream asset with investors and enthusiasts worldwide.
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If you’re looking to hop aboard the crypto train, you first need a cryptocurrency wallet. Unlike the one in your pocket, crypto wallets store digital assets and allow you to send/receive tokens.
The good news is that these types of wallets are free, and you can easily register for a crypto wallet online as you can read in this Tezro article about the best free crypto wallets. Still, it would be best if you keep the following in mind when choosing a wallet.
Factors to Take Into Consideration
Number of currencies supported. When looking around for a wallet, keep an eye on how many different crypto assets it supports. Some crypto wallets only support a few mainstream coins, while some are compatible with more than 1 million altcoins.
Security measures. Crypto wallets have become a favorite target of hackers over the years due to the value of digital currencies. And while cybersecurity has come a long way in recent years, you should always invest in a cold wallet to store large quantities of crypto.
Hot wallets such as Exodus are compatible with specific hardware wallets, which lets you keep your assets safe at all times.
Reputation of the company providing the wallet. Another thing you should be looking at is how reliable the company offers particular e-wallets. There have been incidents of fake wallets that steal your cryptocurrency or poorly managed sites that can collapse overnight, i.e., Mt Gox.
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Best Free Cryptocurrency Wallets
1. Coinbase Wallet — Free and backed by a reputable site
- Provided by Coinbase
- User-friendly design
Coinbase Wallet is a service provided by Coinbase, one of the largest crypto exchanges in the world. You can use the service for free and buy/sell thousands of different cryptocurrencies in-wallet thanks to its crypto exchange.
The wallet’s user-friendly design makes navigation easy, which is why Coinbase Wallet is an excellent choice for newcomers.
2. Exodus Wallet — Free hot wallet with Trezor cold wallet compatibility
- Useable with cold wallets
- Straightforward interface
Exodus Wallet is a hot wallet you can use for free to store various cryptocurrencies— these range from Bitcoin to Ethereum and more exotic tokens like Mithril and Nano.
One unique feature of Exodus is that it is compatible for use with Trezor cold wallets. This lets you link your hot wallet with your hardware wallet to monitor your assets closely. Additionally, storing your tokens on a cold wallet makes it next to impossible for hackers to try and steal your coins.
3. Coinomi — Use it for free and send/receive tokens with zero fees
- Zero charges when sending coins
- Available in more than 25 languages, i.e., English, French, Spanish, and many more
Coinomi is a multi-lingual, free-to-use hot wallet that is popular with millions of users. The wallet features robust security protocols to keep your assets safe.
As it is a non-custodial wallet, all of your crypto’s private keys are stored locally on your device for added protection.
4. Trust Wallet — Supports millions of cryptocurrencies for free
- Compatible with more than 1 million cryptocurrencies
- Solid security features
You can use Trust Wallet for free and enjoy support for more than 1 million different types of cryptocurrencies. This makes it an excellent choice if you’re into niche altcoins.
Besides that, the wallet also has various solid security features to keep your assets safe. This includes non-custodial storage and biometric authentication on certain smart devices.
Keeping your cryptocurrencies safe and out of the hands of hackers doesn’t take much hard work. All you have to do is to practice good security hygiene and choose the right wallet to store your coins.