In the recent video, popular crypto KOL Mike Jenkins reviews the top-recommended crypto wallets to minimize the risk of hacks.
“Most crypto newcomers simply deposit their dollars on an exchange, buy crypto and leave it there. But here’s the problem: That exchange essentially has ownership of that cryptocurrency. That’s because they hold the private keys”.
In other words, the trader simply owns an IOU from that crypto exchange. And if the exchange exit-scams or is hacked, these are very real risks faced by crypto holders.
Exodus Wallet
Exodus Wallet is multi-crypto wallet that available on both mobile and desktop. It supports over 100 crypto assets. According to the analyst, Exodus’ interface can be summed up in one word: Beautiful.
Exodus also has an in-built crypto exchange that allows users to trade over 100 cryptos. The wallet also offers a host of apps that enable to earn interest on those crypto assets. Another key feature is that Exodus offers upgradable security via its integration with Trezor.
“Exodus gives you a relatively safe cryptocurrency wallet for daily use. Since it is an online wallet, it will never be as secure as leaving digital currency in cold storage. Exodus also offers free 24/7 customer support”, he says.
Trust Wallet
Trust Wallet is a multi-coin wallet acquired by Binance in 2018. Trust Wallet will allow users to store, send, receive and exchange different cryptocurrencies with a single account. It supports 160,000 crypto assets including Bitcoin, Ethereum, Ethereum Classic, Binance Coin or also Ravencoin.
According to Jenkins, this mobile wallet sports an integrated DApp browser which can be used to interact with any decentralized application.
Atomic Wallet
Atomic Wallet is a non-custodial decentralized wallet.
“It means that you own your backup phrase and private keys, thus, you fully control your funds. They have no access to your wallet and your sensitive information. Your 12-words backup and private keys are stored locally on your device and strongly encrypted”.
Atomic also has a built-in crypto exchange with 60 crypto pairs. Another key feature is the large number of coins that can be staked here.
MetaMask
MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications.
“That means that if you want to store a bunch of coins from different blockchains then this wallet is not for you (supports only ERC20)”.
Coinomi
Coinomi is a well-known and popular cryptocurrency wallet that can store over 500 coins and is supported on a number of devices. The wallet has kept a focus on the privacy of the user and despite a minor setback in 2019, remains one of the most secure wallets on the market.
“This multi-crypto wallet has both desktop and mobile versions and supports over seventeen hundred different cryptocurrencies. That makes it perfect for anyone dabbling in exotic altcoins”.
Moreover, it is notable that there is no KYC, no IP association, no identity linking, no transaction linking and Conomi’s servers even anonymize your transaction requests by hiding your IP address from would be snoopers.
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