Now, most people use cryptocurrency exchanges as a platform to store crypto assets. Users can download the apps and get a fast and convenient way to send and trade cryptocurrencies. Users are accustomed to using exchanges and take them for granted and do not see any danger in them.
However, the funds are not stored on your own, but on the exchange account to which you have access. And at some point, for only one reason known to the exchange, your withdrawal of funds may be frozen until their origin is clarified, or an attacker may gain access to your account.
This is a cold non-custodial wallet that supports almost all known cryptocurrencies and blockchains (Bitcoin, Ethereum, Solana, Polkadot).
At first, it may seem that you are throwing cryptocurrency into it, like on a flash drive, but this is not so. This is the same window to the world of Web3, but with additional protection.
Namely, physical interaction with the wallet. Thus, you are protected from the risk of losing cryptocurrencies as a result of the hacking.
During the process, you will need to write down a 24-word seed phrase. This is the most important part. After installation, you can add accounts of various cryptocurrencies and blockchains and get the corresponding addresses. Ledger itself has a user-friendly interface called Ledger Live where you manage your cryptocurrencies.
This wallet supports many popular blockchains and cryptocurrencies. Among other things, Ledger can be connected to hot wallets such as Metamask for easier access to Web3 applications.
Another cold non-custodial wallet that stores your cryptocurrency and without physical access to it, there will be no access to cryptocurrencies. The essence of the work is about the same as that of Ledger.
This is a universal wallet that supports the most popular blockchain networks and cryptocurrencies. There is not much difference between these two wallets. Trezor also offers its asset management app, which is only available on the desktop.
Trust Wallet is a non-custodial wallet and mobile application.
Like Ledger/Trezor, this is a universal wallet. TW displays NTF tokens, which is also important with the current boom in this area.
After installing the application on your device, you will need to create a new wallet. By default, this will be a universal wallet that will support all possible blockchains. In the process of creating a wallet, you will need to write down a seed phrase consisting of 12 words. After you have gone through the process of creating a wallet, in the main menu you can add or remove the networks that you need.
The application allows you to interact with many DeFi protocols. It can be used to access other sites through the Wallet Connect feature on those sites. A simple exchange of cryptocurrencies is also supported, without the need to bring them to third-party sites.
Metamask is the most popular browser wallet solution. Also a non-custodial solution.
A mobile application has also appeared relatively recently. This is a window into the blockchain and the entire structure of Web3, because thanks to Metamask, you can interact with almost all desktop applications that are now on the buzz.
An important difference from Trust Wallet is that Metamask (both browser and mobile versions) only supports EVM co-located networks. That is, these are Ethereum, Polygon, Avalanche, and others. In other words, it is impossible to create a wallet in it where you can send BTC or SOL.
A non-custodial hot wallet that provides access to the Solana blockchain. It gives access to interact with all applications built on this blockchain. As a nice bonus — it displays NFT and is available as a browser extension and on IOS devices, but not on Android. If you find something for Android, then be sure that it is a scam.
The best crypto wallet for you depends on the goals and objectives that you set for it. From the information in the article, we conclude that everything depends on the ratio of opposite indicators of convenience and safety. We recommend having two wallets. One online wallet to use a small portion of the amount you need shortly. The second cold is to store capital in the long run.
In this case, you will be able to use cryptocurrency for trading, payment, and other tasks, as well as safely store the main assets.