We all use wallets to store cash and cards. Likewise, you will need a reliable wallet to store your cryptocurrency. Since the inception of Bitcoin in 2009, the number of crypto wallets has steadily grown. So choosing the right wallet for your investment is becoming a more and more confusing game. How to pick the right solution? What to pay attention to select a wallet that meets your needs at 100%? In this post, we have made a selection of key criteria you should keep an eye on.
Criterion #1 — Investment Security
There are many important features to consider when choosing a wallet. However, most in the crypto community would agree that security is the most important factor. Every day, the news reports on new cases of cyber fraud, which leaves no doubt — safety is above all. As you look at your wallet, examine what security measures the company is taking to make sure the technology can be relied on. Exchange operations of bitcoin to euro https://trastra.com/ are to be safeguarded as well.
Here are some questions to look out for.
- Examine the technology used to store the currency: How does the company plan to store the currency?
- Does the storage take place on an individual user’s device or a centralized platform?
- Does the technology offer a two-factor authentication process when accessing your account?
- Are there special registration features?
- Is there a backup option?
Criterion #2 — Company Reputation
Research the company behind the technology. Who is leading the team? What projects are they managing? It is worth paying attention to such small details as the contact number or email address on the website, the availability of the support team.
Criterion #3 — Functionality
The market situation changes every day — exchanges are launching new tokens; some assets are replaced by new solutions. If your portfolio already contains different currencies, then you should focus on multi-currency wallets. Pay attention to the software provided by the wallet company. Will you be able to track your currency balance, manage your portfolio? The investor should always be aware of the latest news, so the ability to track the market condition and the movement of your currencies is right on the wallet control panel.
Criterion #4 — Exchange Between Fiat and Crypto
This is a new feature that is not yet common for crypto-wallets. However, the ability to convert fiat to crypto and back from within your wallet will potentially take the crypto experience to the next level. Another bonus feature is the possibility to integrate the wallet with a Crypto debit card. Thanks to it, your crypto balance can be used in daily transactions.
Criterion #5 — Availability
Can you take your crypto wallet with you? What operations can be carried out with it? Taking into account the issue of solution availability, mobile wallets will gain momentum. At least, pay attention to the development plans of various wallets and ask if a mobile version is planned.
Time to Advance Your Experience!
Instead of wasting your time on second-rate solutions, pick a cryptocurrency wallet that serves its purpose at 100%. Use the above criteria to distinguish professional services.