The crypto world has diversified like never before. There are thousands of digital coins and tokens available for trading. The two most popular cryptocurrencies are Bitcoin (BTC) and Ethereum (ETH). However, newer coins like Shiba Inu (SHIB) have surprised investors and traders. Particularly, SHIB had an impressive price performance in 2021. Exciting products like decentralized finance (DeFi) applications and play-to-earn (P2E) games complement the entire crypto ecosystem.
Crypto exchanges play a crucial role in the crypto world. Exchanges handle thousands of transactions daily: Bitcoin to Shiba Inu, Shiba to Ethereum, etc. Crypto traders and investors have hundreds of platforms to choose from: centralized exchanges, instant exchanges, and, more recently, decentralized exchanges (DEXs). Likewise, there are many options to store cryptocurrencies. As you surely know, you need a crypto wallet to store digital coins and tokens.
There are different wallet types: mobile, desktop, hardware, and web-based. There are other less-used types like paper ones. However, a crypto wallet does not hold physical coins. Instead, it safely stores a string of characters (letters and numbers) known as a ‘private key.’ The private key is used in a cryptographic system to grant you access to a blockchain and use the digital coins that belong to you.
What Type of Wallet Should You Use?
For novices, choosing a crypto wallet can be challenging. Some exchanges that sell cryptocurrencies offer a web-based one to store the coins you buy from the same platform. Although this service is perfect for beginners, keeping your digital coins on the exchange is not good. Hackers often attack exchanges to steal their customers’ digital assets.
Hence, you will have to move your coins off the exchange eventually. So, what type of wallet should you get to store your cryptocurrencies? It depends on what you plan on doing with your digital assets. For example, if you want to hold your crypto for a long time as an investment, security is the most important requirement. In such a case, you should use a hardware wallet.
If you plan on trading cryptocurrencies daily, a mobile wallet on your smartphone will serve your purpose better. If you prefer to access your digital access from your personal computer, a desktop one is the best choice. The latter is a program that you can download and install on your computer. They offer an excellent security level provided that your operating system and anti-virus program are updated.
A desktop wallet will provide hot storage if you continuously keep your computer connected to the Internet. If you usually turn your computer off after use, it will provide cold storage. If you choose to get this type of program, you probably wonder: what is the best desktop crypto wallet available? Let us review a few of the best ones to answer this question.
The Best Desktop Wallets in the Market in 2022
To choose the best desktop wallet, first, you need to know what makes a good desktop wallet. It should meet these requirements:
- Support for the cryptocurrency you will store
- Two-factor authentication
- Produced by experienced developers
- Easy to use
- Positive reviews from previous customers.
It is common to find multi-currency wallets, which support several digital coins and tokens. Such an option is convenient if you plan on trading cryptocurrencies or diversifying your portfolio. So, the best desktop wallets in the market are:
- Electrum
- Exodus
- Guarda
- Jaxx Liberty
- Trezor Suite.
All you have to do now is check which one fits your budget.
