Wallets are used to store crypto coins. They allow you to create blockchain addresses for keeping currency and receiving or sending transactions. Wallets differ in features and capabilities. They exist for various platforms, including computers and mobile devices. Mobile ones are the most popular solutions because of their convenience and practicality. We will stop on their analysis today.
But it is worth remembering that a wallet is just a utility. With it, you can conduct transactions, but it will not provide security and privacy. You should probably use the https://yomix.io mixer to prevent third parties from discovering your data. With it, you will be able to cover a trace of your transactions, so attackers won’t know what your wallet balance is and, therefore, won’t be able to harm you in any way.
What kinds of mobile wallets exist?
Since this article will focus on wallets as smartphone utilities, we will discuss something other than cold ones. But hot purses also have their subspecies. For example, custodial and non-custodial. The essence of the first is that a third party has access to the address and the currency stored on it, and the second is that a legitimate owner can only manage the wallet. The choice is entirely up to you. It’s also worth noting that custodial purses are usually used only on centralized exchanges, decreasing in popularity over time. Using a non-custodial option and masking the cryptocurrency with a mixer is advisable for maximum security.
Features and advantages of mobile wallets
Smartphone utilities have a few excellent features that may lead you to think it is better to use them than the PC version. These applications can be installed on both Android and iOS devices. Although the functionality of smartphone wallets is similar, they all have different functions. For example, in addition to BTC and ETH, a purse can store other cryptocurrencies. Many utilities provide the ability to privatize the transfer or so, etc.
The most popular mobile wallets
This, of course, is not the whole list, but active cryptocurrency users prefer to store their assets in the following places:
- Blockchain.com;
- Mycelium;
- Exodus;
- Trust Wallet;
- Atomic Wallet;
- Electrum;
- Coinomi;
- Samourai Wallet.
The advantage of mobile purses are, for example, the ability to access assets anywhere and anytime. Some utilities stand out for their user-friendly interface, while others support a wide range of cryptocurrencies and additional settings. Moreover, mobile wallets often have a built-in QR code generation function to pay for goods and services with crypto assets.
How not to evolve a victim of scammers when using a mobile wallet?
Here are some recommendations to help you keep your crypto-assets safe and sound:
- When you create a new address, the wallet generates a unique pair of keys to sign transactions. One is for the owner only and cannot be shared with anyone else. The second, however, can be used to export an address with a balance from one purse to another.
- Storing bitcoins on a centralized cryptocurrency exchange in a custodial wallet is primarily a matter of trust in the platform operator. If you use, for example, Binance, there should be no problems, but if it is a small and little-known stock, try to withdraw your savings as soon as possible.
- Download wallets only from official app stores, such as Google Play and the App Store. Before doing so, check user reviews and the number of downloads – usually, the more, the better.