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The Most Safe Cryptocurrency Wallet

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Cryptocurrencies have the ability to disrupt conventional finance by allowing people to retain total control of their assets at all times without relying on centralized intermediaries such as banks and governments. 

But despite their potential, many users are struggling to choose a wallet to store and manage their money, as no one size suits any wallet solution for cryptocurrency users.  But despite this, there are several that stand apart from the rest since they cater perfectly to specific user demographics. 

Here we're looking at three of the best and the most secure.

Coin Wallet (Beginners and Traders)

For no reason other than because they are simply inundated with many options, beginner cryptocurrency users often struggle to choose a cryptocurrency wallet. 

With literally hundreds of wallets to choose from, selecting the one that provides the best combination of features, asset support, and security can be a daunting task.

Despite this, due to its impressive security combined with its strong array of user-friendly features, there is one wallet that stands heads and shoulders above the competition. That's Coin Wallet, a multi-asset wallet available as a simple web app for both desktop and mobile operating systems.     

Coin Wallet is suitable for both beginners and traders as it supports a wide range of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and ERC20 coins, Litecoin (LTC), and XRP. 

It also offers some of the lowest fees around, ensuring that new users are not scalped by extortionate fees while providing traders with the flexibility to move their assets around while keeping fees to an absolute minimum.

But its most important feature is probably its uncompromising security. Not only are users able to secure their wallet using a PIN and their biometric details, such as their fingerprint or face (e.g. Windows Hello and Apple FaceID), but Coin Wallet is one of the only wallets to support FIDO two-factor authentication (2FA)—allows users to use one of the several hardware security keys supported, such as the Yubikey, to authorize transactions.

MetaMask (DApp Users)

MetaMask is a "smart wallet" browser-based Ethereum focused on connecting to smart contracts. The framework enables users to easily communicate with top Ethereum-compatible blockchain based applications such as ETH itself, Binance Smart Chain, and many others. 

For users looking to communicate with DeFi, it has become an important tool as anything can be accomplished with just a few clicks of MetaMask's buttons.

As most cryptocurrency holders simply use their assets to make transactions, trade, and long-term holdings, blockchain technology's growing scope and usefulness has led to the creation of a broad range of decentralized apps (DApps) that can be used for a wide range of purposes, including sports, trading platforms, casinos, and NFT markets.

However, only a handful of popular wallets make it easy for users to interact with the rapidly growing variety of DApps, and one in particular, has emerged as by far the most popular Metamask.

metamask

Without having to run a full Ethereum node, MetaMask allows users to run Ethereum DApps directly on their browser. 

This makes it easier and more convenient to access DApps—making them accessible to both beginners and experts alike. Although MetaMask is most commonly used for Ethereum assets, it is also compatible with Binance Smart Chain (BSC) with a few tweaks.

For DApp users, it's not just its simplicity that makes MetaMask great. It is unbelievably safe as well. MetaMask is secure from the outset with open-source publicly auditable code and password protection. 

But MetaMask also supports Trezor and Ledger hardware wallets for those who want to add an extra layer of protection, enabling users to directly communicate with DApps using accounts stored on their hardware computer.

MetaMask recently reached a mammoth milestone, as announced by NewsBTC earlier, with the startup's application now boasting a jaw-dropping 1.3 million downloads to its name. 

This news, revealed by one of the occasional status updates of the startup, shows that the sphere of power of Ethereum continues to swell, even amid bearish market circumstances and cries for lower lows.

Despite the aforementioned now-breached landmark, however the appetite for development from the 18 full-time employees of MetaMask has apparently remained unquenched. Just recently, at Devcon4, the Ethereum Olympics, MetaMask representatives announced, so to speak, that the company is poised to launch a mobile application that has been coming for a long time. 

For smartphone-based crypto applications, particularly in terms of dApps and smart contracts, this newfangled customer could hopefully fill the growing gap and MetaMask seems to be dotting the i's and crossing the t's in preparation for the revival of the Ethereum ecosystem, which could be denoted by crypto’s next bull run.

Ledger vault (Institutions)

In terms of handling their assets, institutional cryptocurrency users, such as cryptocurrency exchanges, hedge funds, financial firms, and custodians, have specific needs. 

First of all, since they often hold assets worth tens to potentially hundreds of millions of dollars, they need a solution that provides extreme security, including resistance to a wide variety of known and unknown attack vectors, while also enabling these companies to recover their assets safely in an emergency such as if their wallet provider is rendered unavailable.

Furthermore, they will need fine granular controls on who and under what conditions can access these funds, and they need to be able to handle a wide variety of assets by using the same easy access flow. The best option for the job is arguably the Ledger Vault. 

As a digital asset management solution built for growing enterprises, Ledger Vault helps companies, thanks to a wide range of protection layers, to process potentially thousands of transactions every day while benefiting from industry-leading security.

Ledger

With Ledger Vault, institutional users store their assets in Ledger's datacenter as an encrypted and wrapped master key protected by a bank-grade hardware safety module (HSM). 

Using their Ledger Personal Security System (PSD), which is used to authenticate users, approved users can then access their funds via the Vault web interface, although finely regulated rules of governance limit how these funds can be used. 

The Ledger Vault is at the top of the game in terms of absolute security.

Yulina Firmansyah
Yulina Firmansyah Hi, I am a wife who really loves crypto and blockchain technology, I am a writer for this blog.

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