The Best Mobile Crypto Wallets

The Best Mobile Crypto Wallets

In order for more users to use cryptocurrency, it is necessary to create not only a lot of projects, but also reliable storages for tokens to protect them from scammers and hackers. There are good crypto wallets for computers and smartphones on the market now.

Today we will talk in more detail about mobile storage for tokens. Also consider the differences from desktop versions, their advantages and disadvantages, selection criteria.

Sit back, it will be interesting!

What is a mobile crypto wallet and what are its features

Mobile crypto wallet is an application that protects digital assets and is installed on a smartphone or tablet running Android or iOS.

If the smartphone breaks down or is stolen, access to the wallet can be restored at the expense of the seed phrase. This is a text sequence of 12 random words, on the basis of which private keys for accessing the wallet are created.

By entering the uniqueness of the sequence, it is possible to prove the identity of the owner to the systеm. Therefore, we do not recommend storing such data as a text document on a PC or as a file on cloud storage, on an external drive.

It is best to write down the words on paper or print a picture with its subsequent removal from a portable device. It remains to securely hide the document, which fraudsters simply will not get to.

Let’s briefly consider the variety of cryptocurrency wallets on the market.

Varieties of crypto wallets

All types of coin storage applications are divided into:

  1. Custodial – information about user data and private keys is located on the developers’ servers for the convenience of using the possibility of trading platforms, and monitoring the trader’s activities.
  2. Non-custodial programs are decentralized programs where the user owns private keys and controls the security of personal data.

According to the method of storage and interaction with the user, wallets are:

  1. Local – the application is installed on one PC, and you can only access the cryptocurrency from it
  2. The online program uses the cloud and the browser to communicate with the user. Private keys are stored on the project servers, which may be unacceptable for traders.
  3. Mobile is a smartphone application for convenient and fast interaction with digital assets.
  4. Hardware – the data for authorization in the wallet and the seed phrase are stored on a portable device by the type of flash drive. An ideal option for offline storage of cryptocurrencies for investors with a long-term investment strategy.
  5. Paper wallets are the most reliable wallets, which are a sheet with encoded data about the user’s balance and authorization data.

Each user chooses the preferred option for himself, depending on the goals pursued.

Pros and cons of wallets for cryptocurrency on a smartphone

Every application and development has strengths and weaknesses – crypto wallets are no exception.

Advantages Disadvantages
Access to digital assets at any time of the day or night There is a risk of losing the device, which creates difficulties with accessing the wallet
Usability of applications Mobile storage capabilities are usually less than desktop counterparts
Intuitive management of a cryptocurrency account
Enhanced asset security by storing keys on the device rather than on third-party servers

If everything is clear with this so far, consider the most popular mobile storage for cryptocurrencies.

List of mobile crypto wallets

All applications are written for Android or iOS. Therefore, for the convenience of perception, we will divide the further narrative into several logical blocks.

Wallets for Android

  1. Coinomi – the user has access to private keys, account registration is not needed, and transactions are not controlled by developers. The application supports BTC and the largest tokens by capitalization. The project does not charge an additional commission for transfers, the trader pays only to miners.
  2. Jaxx – registration in the systеm is not necessary for receiving and sending transactions of more than 90 digital assets. Tools have been implemented to track payment statistics, control the volatility of the cryptocurrency market with time gradation. There is an opportunity to buy, sell and exchange tokens.
  3. CryptoPay – developers have implemented tools for exchanging, buying and selling cryptocurrencies with a minimum commission. BT, ETH, LTC, XRP, fiat dollar and ruble accounts are supported.

Wallets for iOS

  1. The Edge application supports additional protection of personal information (fingerprint, PIN). The developers have implemented a direct exchange of cryptocurrencies for fiat. The company does not have access to the trader’s personal data, account registration is not necessary. The wallet works with 30+ digital assets.
  2. BRD is a decentralized storage focused on BTC. Coins can be bought and sold, exchanged for ERC-20 tokens anonymously and safely for the user. To use the functionality, you do not need to register an account.
  3. Trust Wallet – a cryptocurrency wallet supports 40 blockchains and more than 160 thousand digital assets. The toolkit allows you to buy crypto from a bank card directly, as well as change it at the best rate. Registration does not precede access to the functionality.

Criteria for choosing a mobile wallet for the crypt

There are a lot of offers on the market, so it is extremely difficult for a user to choose a good wallet for storing tokens. Therefore, let’s consider several criteria that facilitate the choice of software:

  1. Cryptosecurity – make sure that there is no phishing in applications, as scammers often create fake programs to gain access to the seed phrase. Therefore, download wallets only from official sources, and do not store information about private keys and seed phrase on your smartphone.
  2. Non-custodial – it is better to choose a wallet that does not store private keys and personal information of users on the developers’ servers, that is, control from the outside.
  3. Open source – the openness of the code helps to identify and eliminate errors, inaccuracies and vulnerabilities of the systеm. This is done by independent developers, often not belonging to the project team.
  4. Security – pay attention to the measures of increased protection of access to the mobile wallet. This can be two-factor authentication, authorization via TouchID or FaceID, or PIN code.
  5. Anonymity – custodial wallets, when registering an account, request user information for authorization and control of human activity. If anonymity of transfers and financial manipulations is important to you, choose a non-custodial mobile application for storing tokens.
  6. Multicurrency – most traders have funds invested in different cryptocurrency assets that need to be stored somewhere. It is a big plus for a wallet if different coins can be sent to the same storage. In general, it is good if you can also buy cryptocurrencies supported in the systеm through the interface
  7. The presence of a built-in exchanger or exchange – many developers offer built-in functions of an exchanger or a cryptocurrency exchange in a mobile wallet. It is convenient and safe.
  8. HD function – it increases the anonymity of payments to the maximum, as it creates a lot of addresses from a single seed phrase, and constantly changes the sender for each transaction.
  9. Intuitive user interface – the graphical shell should simplify the user’s access to the target action as much as possible.
  10. Support of the Russian language is not the most important factor for an experienced trader, but an extremely desirable criterion for novice Russian-speaking users. Due to localization, the threshold for mastering the available functionality is reduced.

A cryptocurrency wallet on a smartphone is an opportunity to quickly buy and sell assets, exchange them for fiat or other coins. The security of personal information and digital assets does not suffer at the same time.

If you are an active trader who constantly interacts with cryptocurrencies, a mobile crypto wallet is created for you.

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