How to Choose the Best Cryptocurrency Wallet in 2021?

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The question of choosing or replacing a crypto wallet bothers Bitcoin and altcoin holders constantly. Moreover, the choice is now quite large. By search queries, forums and thematic platforms give out immediately from TOP 15 to TOP 100 “best” wallets.

bitcoin wallet 1 - How to Choose the Best Cryptocurrency Wallet in 2021?
Of course, you can find a service based on reviews or choose the one that has been around the longest. But, you run the risk of getting a wallet, which, unlike modern clients, forces you to choose between speed and a comfortable interface, quick access, and security. Why do you need this? Modern wallets have long learned from the mistakes of their predecessors and perfectly combine all the functions demanded by users from multicurrency to cross-platform. An example of such a wallet is BitMarket Network Client.

This is a new ambitious project, which is still available to interested users in the alpha version. The team is looking for enthusiasts, developers, and testers to provide feedback and improve product features.

The developers declare such client advantages as a convenient interface, open-source code, the ability to connect two-factor verification, and quick access from any device. So far, BitMarket Network Client is compatible with such operating systems as Win / Mac OS X / Linux, but soon, the client will be available to work with iOS and Android mobile operating systems. The project will be the multi currency, but this feature is currently under development. At the moment, you can store and exchange Bitcoins and Litecoins using the wallet.

There is no answer to the question “what crypto-wallet is better?”. Here everyone chooses for himself. But for the optimal choice for you, we would specify the following key functions of most modern clients:

  1. Non-custodial and custodial storage. A cryptocurrency wallet can be considered as non-custodial, if it keeps the ability for the user to fully control the keys and their funds. Such crypto wallets do not store private keys, passwords, and seed phrases of users. A custodial wallet stores this information on its server, which is less secure. But, if you have a non-custodian client and you have forgotten the password and phrase for its recovery, then it is almost certain that the assets will be lost.
  2. Open source and closed source. If the code that the client contains is open, this means that outside developers at any time can audit the code and identify its vulnerabilities, as well as hidden functionality. This excludes the possibility of an impact on the wallet from its developers. The closed code assumes that you give your assets 100% of the trust in the client.
  3. Confidentiality. Initially, the cryptocurrency market was created with the goal of anonymity and data protection. A good level of user anonymity is ensured by rotating btc addresses. It is also important to have a two-factor authentication function, which enhances the security of access to assets by confirming your identity.
  4. Convenient interface. Comfortable U1 / UX is a must for beginners. But even experienced users interact with intuitive service much better.
  5. Support for new bitcoin Segwit addresses. This address format allows cryptocurrency transactions to be carried out much faster. At the same time, the commission for such transactions is three times lower!
  6. Multicurrency. The debate over whether to keep all assets in one place or to have a separate bitcoin wallet and a wallet for other altcoins still exists. Of course, for security reasons, the second option is better. But, if you constantly carry out transactions of different types of cryptocurrency, then it is much more convenient to use a multicurrency client with quick synchronization for all currencies and displaying the total value of all assets.

Also, all wallets can be conditionally divided into:

  1. Local ones are installed on your device as an application (PC, laptop, smartphone).
  2. Online. They do not need to download software, they are considered the fastest and most understandable, but unsafe (susceptible to phishing).
  3. Cold or Hardware is a flash drive-like device that stores all history and keys. They are the safest, but not the most convenient. Suitable for very large amounts.
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About Author

Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past. Also, pro-local, pro-global and anti-national.

Disclaimer: All content found on thecryptotime.com is only for informational purposes and should not be considered as financial advice. Do your own research before making any investment. Use information at your own risk.

1 Comment

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    This is the second article I’ve seen lately where BitMarket Network Client project is mentioned. I got curious, got acquainted, even despite the alpha version, it is already very interesting and promising!

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