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WAVE, Hodly, Exodus: Wallet Updates

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Source: European Union Agency for Cybersecurity

Wallets are used to protect cryptocurrencies.

In order to trade Bitcoins and other cryptocurrencies, a suitable wallet is required in the first step. This is a digital wallet, so to speak, in which the cryptocurrency is stored. The wallet is secured by a password so that unauthorized persons cannot access it. But which wallet is needed and what is currently happening on the market? Some wallets for crypto-currencies will be introduced in more detail below – these include not only new start-ups but also experienced and established wallet providers.

Bitcoin Wallet per App from eToro

The trading network eToro offers its own Bitcoin Wallet that can be used via an app. Although the provider is not new but instead established, it offers a versatile wallet in which you can store various coins and tokens. In addition, the app is free of charge and also allows the direct purchase of crypto-currencies.

New: WAVE Wallet

New, however, is the WAVE Wallet, which belongs to the token of the same name. In this wallet, you can not only store WAVE but also Bitcoin and soon Ethereum. This makes the WAVE Wallet quite flexible, with additional options and advantages. For example, the team of WAVE is working on integrating an exchange directly into the wallet, which will allow internal trading between currencies. Furthermore, the platform is working on the connection of a credit card for customers, which will enable the customer to load WAVE directly onto a credit card for everyday use.

Hodly – Crypto-Wallet with offline storage

If you rely on the Hodly app, you can securely store your cryptocurrencies offline. The wallet is offered by the very experienced CFD broker IQ Option. Hodly offers a double authentication and allows the storage of different currencies. Thus Hodly also offers a high degree of flexibility.

Exodus – securely stored on the PC

The wallet of Exodus is not available as an app. Instead, users store their Bitcoins and Co. here directly on the PC. This provides an additional level of security, but always depending on the general security of the system used. For Windows, Mac and also Linus there is Exodus, which can store a total of sixteen different coins and tokens.

Which wallet is the right one?

The decision for the right wallet should not only depend on which coins and tokens you want to buy or sell. Security standards and other aspects also play an important role and should be considered in any case.

You should also pay attention to

  • for which system you need the wallet
  • how to independently secure the wallet from unauthorized access.

You should also keep in mind that in the best case you should make a backup of your own wallet. Because once lost, the wallet and all the crypto credit stored in it will be gone as well. A backup on your PC or on an external hard drive can be the solution.

It is also often considered sensible not to store all coins and tokens in just one wallet. Instead, you should actually use several wallets and back them all up accordingly. This way you can ensure the best possible security for all coins and tokens.

Disclaimer: This is a paid post, and should not be treated as news/advice.

A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.

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