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Now, I imagine you already know what a cryptocurrency wallet is. To review, a wallet is where you store your cryptocurrencies securely.
With the wallet, you can also send and receive cryptocurrencies. When it comes to something as valuable as this, We must pay special attention to security..
In this article, I will focus on analyzing the most secure cryptocurrency wallets on the market.to help you make an informed decision when choosing the option that best suits your needs and preferences.
Table of Contents
Types of wallets
First of all, do you know what the two types of wallets are? It’s simple:
- Hot wallets
- Cold wallets
Hot wallets are connected to the internet, while cold wallets are physical devices that are not connected to the network.
So how do cold wallets work?
With a public address for your wallet, you can receive payments from any exchange. On the other hand, your private key will serve you to transfer and control your stored cryptocurrencies. That is, the private key should be private. Don’t shout it from the rooftops and don’t whisper it either; if you lose it, there’s no way to get your crypto back. On the other hand, a public address is like your home address, which you can share with Amazon to receive packages, for example.
What type of wallet is the most secure?
If one is online and the other is offline, which wallet do you think is more secure?
exactly, With cold wallets, we avoid any hacking attempts.It is entirely possible for anyone to remotely access your cryptocurrencies, and in fact, unfortunately, there are quite a few cases.
Note that I am not trying to demonize hot wallets, which are very convenient for everyday transactions. However, in this article, I am focusing on the security of storing cryptocurrencies in one place, and there is no doubt that cold wallets win by a large margin in this aspect.
Below is a comparison table between hot and cold wallets so you can take a look at their main features.
| feature | Hot wallets | Cold wallets |
|---|---|---|
| Contact | Always online | Offline |
| protection | Less secure than cold wallets, more vulnerable to cyber attacks | More secure than hot wallets and less vulnerable to cyber attacks |
| Storage type | Online, usually on mobile devices or in the cloud | Offline, on physical devices such as USB, paper, or specialized devices |
| Usability | Easy to use, with a user-friendly interface and quick access. | It requires a more complex process to access cryptocurrencies, which may be less accessible to less experienced users. |
| Transfers | Allowing quick and easy online transactions | It requires a more complex and manual process to process transactions, which may take longer. |
| price | Generally, they are free or low cost. | They are usually more expensive than hot wallets due to their higher level of security. |
Now that we’ve taken hot wallets out of the equation, let’s move on to the next important point.
Types of cold wallets
Within cold wallets, we can distinguish 5 types:
- Paper walletsThey are completely disconnected from the internet, and yes, it is a piece of paper with your keys on it that you should keep in a completely safe place.
- USB/Hardware Wallets:These are the most popular in practice, and are electronic. They are connected to a USB computer when making transactions. You may have heard of Ledger or Trezor, as they are among the most popular coins currently.
- Software-based cold walletsElectrum and Armory are two wallets that can be categorized at this point. They are similar to a hot wallet because they are connected to the internet in some way. However, the software works offline or without an internet connection, like when you put your mobile phone in airplane mode, for example,
- Cold wallets onlineThese are hot wallets that provide cold wallet service by temporarily disconnecting. During this disconnection, when you enter keys, they connect back to the network.
- Non-electronic walletsThere is no electronic material and it is not connected to the internet at any time. You only need to enter your private key or address on the exchange when you intend to send cryptocurrencies to the wallet or make any transaction.
Well, after all the options we just saw, Let’s start eliminating them one by one with arguments defending security, Because that’s what this is all about.
Hardware wallets: Because they are electronic devices, they can get damaged. Imagine dropping them in water or accidentally stepping on them. These are your keys.
Paper wallets: No one can steal your keys, but what if the paper breaks or gets wet? Paper is very sensitive.
the USB wallets USB wallets allow you to store and manage multiple cryptocurrencies on one device, and you can easily make transactions. However, USB wallets can easily break or get damaged, and if this happens, you will also lose your keys. In comparison, paper wallets are more secure because they are not susceptible to technical failures, but they are vulnerable to water or fire, for example.
Software-based cold walletsIt is true that the keys remain offline, but what if your device is infected with a virus? In addition, creating offline transactions is not easy for any user.
Online cold wallets: Because they are directly connected to your hot wallet, they connect to the internet at some point, which creates the same problem that hot wallets do: hackers.
Have you found the winner yet?
Bingo! Non-crypto wallets are the winners in terms of security.They are usually more resistant than paper wallets and USB wallets. In addition, they do not connect to the Internet at any time. These two features make this type of wallet the most secure today.
Non-electronic cold wallets are more secure.
There aren’t many wallets of this type on the market. Let’s focus on two of them. Both wallets are designed for non-experts in the world of cryptocurrencies, so that anyone without super technical knowledge can store their cryptocurrencies in a safe place.
- Bitcoin/Ether: For Bitcoin and Ethereum respectively. It is a highly resistant metal plate, where the public address is engraved on the plate itself, as well as the private key (protected by a metal vinyl).
- BalletThe Ballet Wallet has similar features to a physical Bitcoin wallet, however, the keys are printed on stickers, not engraved or stamped into steel.
This makes the ballet look like a paper wallet, but with the printing done by the steel it does something useful, but it’s not.
The most secure wallet for Bitcoin and Ethereum
Now I will tell you about our wallet. Physical Bitcoin and Why It Is the Safest on the Market.
I’m not trying to sell you anything, you’ve seen how I argue all the claims I write in these lines.
The Bitcoin material is a highly resistant steel plate. Tested against fire, water, and even strong shocks, the plate really holds up. In fact, here’s a video where You can see how we left a plate in the middle of the Atlantic Ocean and how it survived..
As you can see, we were close to death, but The painting remained intact after being submerged at a depth of 27.8 metres for 3 months..
Why do you think our wallet It has a 100 year warranty.This is because we truly believe in what we do.
What cryptocurrencies can I store with Material Bitcoin? With Material Bitcoin, you can only store Bitcoin. The good news is that with the same manufacturing properties, we have Material Ether, which was created to store Ethereum.
They are the most popular and valuable cryptocurrencies today, and are ideal for safe long-term storage, much like gold bullion.
Physical Bitcoin and Physical Ether can be your cryptocurrency bar.
If you can think of a safer option than this, feel free to share it in the comments.
