Top 5 Cryptocurrency Mobile Wallets – Overview for Beginners
Cryptocurrencies are here to stay. And what’s more, they’re becoming more accessible on a seemingly daily basis.
Today there are plenty of options out there for investors who are looking to manage their crypto assets while on-the-go, and with a never-ending array of dedicated mobile wallets, some users could call themselves spoilt for choice.
Mobile Wallets on the rise
Finding a cryptocurrency wallet that suits your needs might not be the easiest task, however, with different platforms offering varying levels of service and features. So let’s take a look at the top five mobile wallets out on Apple and Android app stores right now:
Coinbase is one of the biggest names out there in the world of cryptocurrencies. Their mobile wallet is fast, simply designed, and relatively straightforward to get to grips with. Coinbase also supports the use of many digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin.
While there may be wider ranges of cryptocurrency support out there, few mobile wallets can offer the level of features and security that Coinbase boasts. Using this platform, it’s possible to not only hold money but also trade your currencies effectively.
It’s also possible to set up a type of standing order or direct debit through Coinbase’s dedicated wallet. Simply schedule regular payments or transfers for a predetermined denomination of the cryptocurrency of your choice.
Coinbase’s security revolves around two-factor authentification, secure passwords and the use of seed keys to ensure that virtual assets have the best chance possible of keeping in the right hands.
Blockchain.com is a name that definitely won’t be going away any time soon. The technology offered up by Blockchain.com is fundamental in keeping the likes of Bitcoin and other currencies fully decentralised and is generally considered an asset for modern security practices. It also turns out that the Blockchain wallet is pretty excellent too.
Similarly to Coinbase, the Blockchain.com wallet allows users to buy and sell digital currencies online in over 35 countries worldwide. Transactions are also fully functional and can be executed within the wallet, albeit for a small fee. There’s a wider range of choice when it comes to the array of cryptocurrencies that the Blockchain.com wallet supports, including Bitcoin, Bitcoin Cash, Ethereum, and Stellar Lumens to name a few.
Blockchain.com wallet automatically backs up its users’ funds in case of an error or security compromise – however, the mobile wallet’s use of email verification, two-factor authentification and backup security phrases mean that most people’s digital finance will be safe within the confines of this handy mobile little wallet.
Mycelium operates as a fully mobile Bitcoin wallet – exclusively mobile, in fact. The wallet is available to both Apple and Android users and is packed with complex levels of security.
‘Complex’ is a word that follows Mycelium around, actually. With the app drawing attention for being a little bit more complicated to use than other streamlined wallet developments.However, some users see the rich network of features worth the more cluttered user experience.
There’s actually no interface within the Mycelium app, but the company does promise ‘bank-grade security’ for the assets that it stores. This is just as well, because cryptocurrencies can often outweigh the value that users have in their more traditional banks.
Mycelium has excellent security integrations from third-party developers like Trezor. The app also guarantees anonymity and keeps your crypto-assets close to you wherever you go.
There are few mobile wallets out there that can beat Jaxx for speed and its quality of features. Users can send and receive cryptocurrencies at the touch of a button, and have the ability to scale the pace of their transactions by editing the level of commission they would like to send to prioritise a transfer.
The execution of Jaxx has been excellent and it’s fair to say that the mobile wallet is among the market leaders in the crypto industry. When it comes to security, users are given their own private keys that aren’t stored on the company servers to ensure nobody can gain access to your assets. Jaxx is certainly a strong contender for the best mobile app offering the fastest transactions.
Coinomi has also developed a strong reputation among mobile users. Thanks to a strategic partnership with ShapeShift, assets can be transferred almost instantaneously within the app, and users have the ability to use the wallet to make deposits and withdrawals at Bitcoin ATMs.
This app offers supreme security, with Coinomi employees insisting that the company doesn’t save private keys on their servers – meaning that a hack on the business won’t lead to the compromising of users’ funds.
Coinomi’s mobile wallet also holds a range of coins like Bitcoin, Ethereum, Litecoin and Dash. Interestingly, the app has also made room to accommodate the growing stablecoin market too. All in all, Coinomi is a very solid and well-presented tool for users wishing to handle their cryptocurrencies on the go.