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Which mobile wallet is best for cryptocurrency?

March 9, 2022

Taking your cryptocurrencies on the road with you comes with its own set of risks. So, this doesn’t have to be the case, which is why we’ve put together a list of the best mobile crypto wallets you can use.

Sit back, relax, and take a look at what we’ve put together in this article. You can find these and others in Tezro blog, so make sure to pay them a visit.

1. Mycelium Bitcoin Wallet

Founded in 2008, Mycelium is one of the oldest cryptocurrency wallets on this list. And while it supports only a limited number of cryptocurrencies, i.e., Bitcoin and Ethereum, Mycelium has a strong security record.

With Mycelium, users are promised anonymity and data privacy at all times. Thanks to the wallet’s open-source code, transparency is guaranteed. That way, you can rest easy knowing that your cryptocurrencies are in good hands. 

Besides that, Mycelium comes with interface protection – a feature that uses a pin code to block access to the wallet’s app. Hence preventing any unauthorized transfers should your mobile device get lost or stolen.

As an added plus, Mycelium is also compatible with cold wallets and allows users to monitor their crypto holdings offline.

Pros: 

  • Simple easy-to-use interface
  • Solid security features
  • Compatible with hardware wallets
  • Open-source code

Cons:

  • Only supports a limited number of cryptocurrencies
  • Lacks two-factor authentication

2. Coinbase Wallet

Coinbase Wallet is a hot wallet managed by the world-renowned crypto exchange; Coinbase. 

The wallet features support more than 500 different types of cryptocurrencies. They can even be integrated with your bank account – thus allowing you to purchase cryptos with fiat currencies such as the U.S Dollar. 

In terms of security, Coinbase doesn’t disappoint as the Coinbase wallet is protected with AES-256 bit encryption while also featuring two-factor authentication. Also, being affiliated with a significant crypto exchange doesn’t hurt.

However, be aware of the pricey fees charged by Coinbase and the lackluster customer support. 

Pros:

  • Backed by a significant crypto exchange: Coinbase
  • Large selection of cryptocurrencies supported
  • Can be integrated with bank accounts
  • Easy transfer with Coinbase and Coinbase wallet
  • Comes with two-factor authentication (2FA)

Cons:

  • Poor customer service
  • High fees

3. Exodus Bitcoin & Crypto Wallet

While Exodus offers excellent support for desktop users, this doesn’t mean that the wallet isn’t an excellent mobile wallet as well.

Far from it, actually. Exodus has mobile applications for both Android and iOS devices. Both of those applications feature a decent UI that is easy-to-use and intuitive. And if you’re an investor, you’ll appreciate the live charts and portfolio data for analysis.

It’s also good to see that Exodus comes with a built-in exchange, so you don’t have to bother with the fuss of transferring cryptos.

Thanks to its excellent customer service, an extensive selection of cryptos, and free-to-use nature, Exodus is one of the best all-around crypto wallets on this list.

However, the wallet is let down by occasional slowdowns on busy days and the lack of compatibility with cold wallets. So if cold wallets are a regular part of your routine, you may want to look at something else on this list.

Pros:

  • Great support for desktop users
  • Excellent customer service
  • Large selection of cryptocurrencies supported
  • Free-to-use

Cons:

  • Not compatible with cold wallets
  • Service sometimes slows down during busy days

4. Electrum

Another certified classic Bitcoin wallet, Electrum, is highly-favored by advanced Bitcoin users looking for more. Unlike other mainstream crypto wallets, Electrum only supports Bitcoin and nothing else.

While this may put off some users, Electrum’s strong track record of solid security, compatibility with cold wallets, and easy-to-use interface make it hard to ignore.

Ask any Bitcoin enthusiast, and they’re sure to say that Electrum is one of the safest Bitcoin hot wallets available nowadays.

However, note that Electrum is primarily suited for advanced users and does not offer any customer support of any kind. Instead, you’ll have to make do with some FAQs and tutorials on the Electrum page.

Pros:

  • Strong security track record
  • Smooth, easy-to-use interface
  • Compatible with cold wallets
  • Can interface with other types of hot wallets

Cons:

  • Only supports Bitcoins
  • Non-existent customer support

Closing Thoughts

So, there you have it: a selection of the best mobile wallets for storing your cryptocurrencies. 

While these wallets are safe and have a proven track record, always remember that the best way to keep your cryptos safe is to practice good security hygiene at all times.


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Uzair Jan

Website Developer, For The Kashmir Monitor

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