When cryptocurrencies are mentioned, Bitcoin is the first thing that comes to mind. Although the cryptocurrency market is very volatile, and prices are constantly rising and falling, people’s interest in them is not waning. As interest grows, the question arises, how best to store cryptocurrencies and which are the best crypto wallets.
There are two types of crypto wallets, hardware, and software, which are also called Cold for hardware and Hot for software wallets. Hardware wallets are devices that look similar to USB sticks and have a higher level of security. In contrast, software wallets are programs that are usually free with a commission for storing and changing cryptocurrencies and are less secure.
The best way to visualize these two types of crypto wallets is to look at the hardware wallets as a bank account and the software wallets as a leather wallet that you carry with you in your pocket. A leather wallet is not a place to keep your life savings, but you will have some money there for daily expenses. Selling or paying with cryptocurrencies is much faster and easier when you use software wallets.
In this post, we will present, in our opinion, the three best free crypto wallets. If the concept of cryptocurrencies is not the clearest to you, read our post What are cryptocurrencies? in which we explain in detail and in the simplest possible way, without using technical terms, what cryptocurrencies are.
Exodus is a free crypto wallet for Windows 10, Linux, macOS, Android, and iOS. It is important to note that it only supports 64-bit systems on PC, so if you have a 32-bit system, this crypto wallet will not work.
It supports more than 130 cryptocurrencies, and new cryptocurrencies are added regularly. It has a built-in crypto exchange, so changing cryptocurrencies is very simple and fast.
This is also a crypto wallet for beginners. The user interface is user friendly, clean, and easy to use. On the company’s website, you can find video tutorials, a blog where authors explain crypto technology, and a forum where you can ask questions that authors regularly answer.
While this crypto wallet is excellent for beginners, it is not the best for advanced users because it lacks many advanced features. Also, this is a closed source software. This means that the program code is not publicly available. This is quite the opposite of the whole ideology of cryptocurrencies, where everything is open and publicly available.
Despite these criticisms, if you are just entering the world of cryptocurrencies, Exodus is a great crypto wallet for you. Even if you aren’t a beginner, the Exodus website is still an outstanding resource that you should keep in mind.
Windows 10, Linux, macOS, Android, and iOS
To download Exodus click HERE.
Electrum is a free crypto wallet for Windows 7, 8, 10, Linux, macOS, and Android. This is one of the first crypto wallets for Bitcoin. It was created in 2011, and little has changed since then. In our opinion, as well as in the opinion of many users, this is one of the most secure crypto-wallets.
The user interface looks outdated, though not ugly. On the surface, the options it offers seem minimal, but the real power of this wallet comes when we look “under the hood”.
Electrum is an open-source program, which means that the code is available to everyone to change and adapt to their needs. This is where the real power of Electrum comes. Although there are not many options in the user interface, in the code you can change almost everything. That is why this is not a crypto wallet for beginners.
The biggest drawback of Electrum is that it only supports Bitcoin. Also, it does not contain a built-in crypto exchange, but we do not consider this a big drawback, especially if we consider that it is intended for professionals.
Windows 7, 8, 10, Linux, macOS, and Android
To download Electrum click HERE.
Coinbase is a free crypto wallet that you can access on your computer via the website, so it is available on all operating systems. On mobile phones, it is available via the Android and iOS apps.
Coinbase crypto wallet is probably the easiest way to store, buy and sell cryptocurrencies, so it is suitable for beginners. You can link your bank account to it for easy money transfer. It allows you to store and trade 62 cryptocurrencies.
An interesting feature offered in this crypto wallet is that it gives you the opportunity to watch video commercials and do quizzes, after which you will be rewarded with a small amount of cryptocurrencies. We are not sure how much you can earn this way, but we do not believe that you will get rich.
The user interface is nice and easy to use, which is great for beginners, and it also offers a programming interface for advanced users. The biggest drawback of this crypto wallet is that the commission for storing and transferring cryptocurrencies can be much higher than in other wallets.
Android, iOS, and website
To download Coinbase click HERE.