Which crypto wallet is more popular in the UK?
In the UK we are seeing a rapid increase in the number of people using cryptocurrency. But in addition to buying and selling bitcoin and other coins, it’s important to think about what you want to do with your cryptocurrency once you’ve bought it.
Fortunately, there are many wallets to choose from that will help keep your coins safe. But first, let’s take a look at:
What is a crypto wallet?
A crypto wallet is a piece of software that allows you to store and send cryptocurrencies. It can be either an online (hot) or an offline (cold) wallet, depending on the type of device you choose to use.
Cold storage vs Hot storage
Cold storage wallets not connected to the internet. This means that it cannot be hacked by cybercriminals, thus making your crypto coins more secure.
In comparison, hot storage wallets are connected to the internet and allow you to store your crypto coins on an online device such as a laptop or smartphone. But this connectivity makes them vulnerable to cyber attacks.
Therefore, if you plan to hold your crypto for long periods of time (ie 5+ years), it is best to use cold storage wallets because they come with greater security features.
If you plan to shop frequently or make frequent payments (ie daily), heat storage wallets may be better suited to your needs as they offer far more convenience compared to cold storage methods
1. Coinbase Wallet
In accordance Tezro, Coinbase is one of the popular wallets in the UK. Coinbase Wallet is a mobile wallet available for iOS and Android. It is a good choice for beginners because it is easy to use, secure and free. Coinbase also offers its own exchange so you can trade cryptocurrencies in the app.
Exodus is a desktop wallet. To access your cryptocurrencies, you need to download the desktop application and run it on your computer.
It provides an intuitive interface that makes it easy for even beginners to send, receive and exchange cryptocurrencies.
Apart from that, Exodus is also one of the most secure cryptocurrency wallets out there. Exodus user two-factor authentication (2FA) to ensure that only authorized persons can access funds stored in a user’s account. It does this by requiring them to provide other information such as an email address or phone number before accessing their account.
Since Exodus is open source, anyone can view the source code for auditing purposes. This prevents developers from inserting a few lines of malicious code into the wallet.
3. Coinomi wallet
Coinomi is a multi-coin, multi-asset wallet that supports over 300 blockchains and thousands of tokens. It’s also one of the few wallets out there that lets you hold multiple coins without carrying around a bunch of different apps or addresses. This makes it ideal for those who want to keep their money in multiple currencies but still have one place for everything at the end of the day.
Coinomi does not support escrow wallets (where someone else has your private keys). Instead, Coinomi uses non-custodial wallet technology which means users can be sure that no one else has access to their cryptocurrency holdings except themselves. This improves security tremendously because if someone got access to your private keys, they could easily steal all your money!
Another reason we recommend Coinomi is because it has an integrated exchange built into its interface, so all transactions are instant and seamless – no need to switch between apps just to buy or sell some crypto!
The crypto market is still in its infancy, so there are many wallets that are not yet on the market.
But if you’re serious about crypto, you’ll want to find a good wallet that will keep your coins safe from hackers and other malicious actors.