Cryptocurrency Wallets: Secure Your Cryptocurrency Safely!

April 1, 2019 CoinCentric 0 Comments

Cryptocurrency is a digital mode or a virtual currency designed to work as a medium of exchange. It uses cryptography to secure and corroborate transactions as well as manage the creation of new units of a particular cryptocurrency. Cryptocurrencies are the limited entries in a database that cannot be changed unless specific conditions are fulfilled. Cryptocurrencies are decentralised; there is no official exchange for them, i.e. they can be traded 24 hours a day and seven days in a week.

They are also considered as a global currency, and are less vulnerable to the economy or policies of any single country where they are accessible to everyone.

A cryptocurrency wallet is similar to a bank account, where your cryptocurrency investment is used to store, receive and send the digital currency to another wallet account or it is used for shopping purpose. Regardless of the purpose of cryptocurrency, i.e. whether you want to trade in cryptocurrencies or want to have them as your asset, having a cryptocurrency wallet is mandatory.

Every wallet type is a bit different from each other, but every wallet will work with one or more cryptocurrencies and will be able to store more than one cryptocurrency-specific “public addresses.” Here’s a list of wallets for those who are looking at cryptocurrency investment.

Full Node Wallet: A full node wallet is a wallet where you have a complete control over the private keys and can host a full copy of the block chain.

Custodial Wallet: Some wallets allow you with a complete control of your private keys, whereas some are custodial where there is no direct control.

Desktop Wallet: This is a most common type of wallet; it is directly connected to the coin’s client.

Mobile Wallet: As the name suggests, this wallet runs from a Smartphone app.

Online Wallet: This is a web-based wallet. Where there is no requirement of an app, but rather the data is hosted on a real or virtual server.

Software Wallet: Any wallet that is based on software is called as a software wallet.

Hardware Wallet: For certain wallets there are devoted software that is build to hold the cryptocurrencies and keep them secured.

Coin-specific: These are the wallets that work with specific coins.

Cryptocurrency investment is the current trending opportunity that is available for all, where people are gaining profits through bitcoin investments. It is becoming a popular digital currency that is getting an acceptance worldwide. Ethereum, perhaps is the second most valued cryptocurrency, and has recorded the fastest rise a digital currency ever demonstrated.

Here’s a list of best cryptocurrency to invest

Bitcoin — this is the first ever cryptocurrency that started it all.

Ethereum – It is the second most popular after bitcoins in terms of market cap. Ethereum endeavours to disrupt online data storage. The blockchain on Ethereum is well accepted for storing smart contracts.

Ripple – Ripple along with its XRP currency attempts to lend a helping hand to financial institutions. XRP’s strength as a currency and its ability to be used in the middle of a transaction between two different fiat currencies minimizing liquidity is advantageous.

Litecoin- Litecoin has often flaunted its transaction speed in comparison to Bitcoin, and as a result, it is seen by some cryptocurrency users as one more possible altcoin that can become a legitimate currency.

Dash – Dash stands for Digital Cash, it is an independent Next big Altcoin platform which started in 2015.

The above listed are the best cryptocurrency to invest, crypto currency investment is still the preferred investment option, however one needs to pay close attention to the cryptocurrencies’ market value and to any news related to them. CoinCentric is an ultimate solution for Crypto trading with the world-class security and expeditious transactions. You’ll never regret your trading experience here!

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