With just a few days left until 2024, Bitcoin is hovering close to $100,000. Here are the best crypto wallets to store your coins

Choosing which crypto wallet is best for you will depend on how secure you want your assets to be and how much trading you intend to do.

People who invest large amounts of money will probably choose a cold wallet as it is more secure, while people who are into investing will probably be fine if they don’t spend extra money and use a hot wallet.

security

When it comes to cryptocurrency, security is probably the most important thing to consider. You want your digital assets to be as safe as possible from hackers and fraudsters. The best protection from a hacker is offline, so a cold wallet will be the safest route. Being a physical object, cold wallets can still be lost or stolen, so it is important to keep your cold wallet secure.

If you lose your wallet, you can still access your cryptocurrency using your passphrase. Boot phrases are randomly generated combinations of words that can be used to recover or access your account in the event that you do not have your cold wallet or your hot wallet is disconnected. You receive a seed or recovery phrase when setting up your wallet.

Taxis

While blockchain transactions may come with fees, hot wallets like Exodus are generally free to use, while cold wallets on this list cost up to $149.

Ease of use

Hot wallets are generally easier to use than cold wallets simply because you don’t need to take an extra step to access them.

Hot wallets are connected to your browser through an extension to your phone if you use a mobile wallet or through software downloaded to your computer. They can be accessed at any time, while cold wallets require a physical key to connect to your computer.

Trade amount

If you plan to trade a lot, you’ll need a wallet with advanced features. Some wallets support a smaller number of digital assets, so you’ll want to choose one that serves a wider range of coins. You will also need to be aware of any restrictions the wallet has on trading. A cold wallet is the better choice if you intend to trade and store larger volumes of digital currency.