Digital wallets act like real-world wallets and are responsible for maintaining digital currencies. These wallets have different types that depending on the needs and how we use each of them can be selected, it is necessary to mention because of the vulnerability of these wallets and also the undeniable risk of hacking their information. we need to be very careful in choosing a digital wallet and take precautions.
What Is Mobile Cryptocurrency Wallet?
Mobile Cryptocurrency Wallets are applications that will be installed on mobile phones, using which it is possible to store the encrypted digital currencies on the user’s personal mobile phone and people have the ability to make digital transactions. In addition, it is possible to pay for items purchased online in stores that support digital currency using the QR code (Quick Response Code) in these applications.
With these digital wallets, so-called Cryptocurrency wallets, we can store our currency information. Each digital wallet consists of two codes, private and public, which use these codes to provide us with the ability to access currencies or transfer money to other wallets in the digital network.
The most important criteria for choosing the best wallet for your cryptocurrency:
- Investment Security
- Company Reputation
- Blockchain Evolution
- Cryptocurrency Conversion
- Investment Security
Note: The best Mobile Cryptocurrency wallet is determined by the circumstances and needs of a person.
Let’s have A Look At 3 Best Cryptocurrency Wallets
1) TRUST WALLET
TRUST WALLET is a multi-currency wallet affiliated with Binance Exchange. This wallet puts a lot of emphasis on backup, because without backup if the application is deleted from your device or you do not have access to your mobile phone for any reason, you will not be able to restore your digital currency balance.
Decentralized exchange within the wallet allows you to exchange currencies with each other, and in addition, you can communicate directly with decentralized applications through the Trust Wallet app.
Digital Currencies Supported In Trust wallet
- More than 60 currencies such as Bitcoin, Bitcoin cash, Callisto, Ripple, Atrium,…
Benefits Of The Trust Wallet
- Internal decentralized exchange
- open source
- Support for more than 20,000 tokens and the world’s top 15 currencies
- Free download and use
- Receive profits and stick digital currencies
Disadvantages Of Trust Wallet
- Single Factor Authentication (SFA)
- Lack of support for Fiat currency
Trust Wallet Security
Your private keys are not stored on Trust wallet servers and are stored on your device and mobile, which increases security, as well as; Thanks to its open-source, you can see the codes of this wallet online. Recovery in less than 30 seconds during backup is another thing that can have a great impact on the security of this wallet, and the most important security part in the Trust wallet, installation without Entering any personal information.
It is also designed for mobile platforms (Android and iOS) and allows mobile users to store, receive and pay for digital currencies:
For more information, you can visit the main site of Trust Wallet.
Coinomi is designed for smartphones, but it also has a desktop version, offering common features to its users, which we will discuss below; It also provides instant access to digital assets. The important thing about Coinomi wallets is that no Coinomi wallets have been hacked so far. Trade Fiat currencies at 128 Coinomi dealerships around the world and enjoy 25 live world languages in this wallet
Digital Currencies Supported In Coinomi:
Support over 500 digital currencies! Coinomi supports this in addition to the top available wallets in terms of the number of supports.
125 digital currencies with dedicated blockchain.
- (such as Bitcoin, Lightcoin, etc.) with 382 tokens can be supported.
Benefits Of The Coinomi Wallet
- It is easy to install and you can easily create your wallet
- Assign IP range to subnet
- Being multi-functional
- Simple support
- installation without Entering any personal information
- Internal exchange and easy user interface
Disadvantages Of Coinomi Wallet
- Coinomi is not open source
- Synchronizing and updating inventory sometimes takes up to several hours
Coinomi Wallet Security
Some problems reported by users, such as deleting recovery words when clearing the device cache, which can lead to complete loss of assets if you do not back up; By not following some tips, the popularity of Coinomi in the past years has diminished.
Due to the disadvantages of Coinomi security, security measures have been used that can increase the security of Coinomi wallets, such as private key encryption, Account recovery through special algorithms (HD).
You can download this Coinomi Wallet for Android, iOS, And Desktop versions by clicking on the given links:
Take a closer look and explore more from Coinomi main site
Another famous and popular digital wallet is Exodus, this wallet has also a desktop version like Coinomi; And is the main reason for its popularity due to its user-friendliness and is also recommended for people who are beginners and have just become acquainted with the web world; The developers of this digital wallet have paid a lot of attention to the user interface and full-time user support.
Digital Currencies Supported In Exodus:
Exodus supports 59 coins for mobile versions and 109 coins for desktop versions; Also, Exodus covers a large number of tokens that you can add to the money manually if you need to save a token in Exodus.
- Such as TomoChain, Bitcoin, Perfect money, Theron,…
Benefits Of The Exodus Wallet
- Attractive user interface
- Full-time development team support for users
- Exchange of different currencies with domestic exchange
- Very easy to use
- Software-based wallet
Disadvantages Of Coinomi Wallet
- Exodus is not open-source
- There was no two-stage approval
- No multi-signature capability
- High commission for domestic exchange
Exodos Wallet Security
A digital wallet is relatively safe for everyday use. Of course, since this is an online wallet, it will never be as secure as cold storage methods such as a hardware wallet.
The only protective layer of the Exodus wallet is the password. After passing through this layer of protection, the hacker can easily access the digital currencies stored in the wallet, so Use long and strong passwords.
You can use the given links to download Exodus digital case in Android, iOS, and Desktop versions.
For more information, you can visit the main EXodus site
Introduced digital wallets are one of the most popular wallets available, each of which has special features, do not forget to consider your conditions and needs when choosing a digital wallet, in your opinion wallet Can digital have a better position than before? Have you ever experienced using any of these wallets?