These days, investing or trading with BTC as well as other digital assets is now possible through trading platforms online & Bitcoin Wallets.
As a minimum of 1 Bitcoin wallet is needed to buy or sell cryptocurrencies, it is advisable to use the best one then. There are several bitcoin wallets you can make use of. A few of them are superb, while others do not have so many essential features.
So it best you make adequate research before signing up to a Bitcoin wallet company. The following are five key factors to consider when choosing a bitcoin wallet:
A host of Cryptocurrencies
Before choosing a crypto wallet, you have to find out whether it allows for the storage of other assets. Though, a wallet stores crypto basically, your wallet should still take in over a single cryptocurrency.
Since you might decide to trade btc and other cryptoassets when you want to profit from a big market, a multi-crypto wallet is essential. Employing a Bitcoin wallet that can keep several cryptos will make it much simpler for you to invest & trade in various assets. Rather than creating separate wallets for every cryptocurrency, it is most advisable you use one wallet for all your holdings.
Reputation of the Company
Another thing to consider is the reputation of the Company providing the wallet. In entirety, they must be safe and dependable. This is because you’re entrusting your funds to them as well as your transactions.
Make a quick search through the internet if they are reputable. If you notice more negative reviews and information about the company, then think twice about your decision. You can as well investigate the company name on forums or inquire from group members on an alternative Bitcoin wallet.
You can as well look through their social media profiles to view the ratings dropped by their earlier or present clients. Furthermore, you have to also research the following data on their platform:
Private Key Custody
Data management techniques
Server used to preserve clients personal info
Team members who are working in the company
By getting this information, you will be able to ascertain the trusted ones from fraudulent company’s running a bitcoin wallet.
One of the things you have to take note of prior to picking a Bitcoin wallet is security. As most crypto transactions are online, there’s likely danger your funds can get stolen by hackers or criminals. To ensure a bitcoin wallet is safe, it must have the features listed below:
~ Notification for Authentication ~ KYC verification ~ User-Authentication.
We must not look at only the advanced features of a Bitcoin wallet, we should also take note of its customer service. Regardless of how well built a wallet is, if it lacks in customer support, it entire rating will be diminished. That is because users need quick help and response to their queries everytime.
The problem with a not-so-good customer service you wouldn’t want to face is that you get frustrated and you may even begin to lose trust in the wallet company. This happens mostly when you have a path reserve of coins in the wallet, as it’ll be stressful to move the funds to another wallet. That is why it is essential you make findings on their customer support operation as well.
Availability in your Region
It might seem noticeable, but it is not every crypto exchange that operates all over the World. This is mainly as a result of monetary regulations that really govern the crypto market.
For instance, a crypto exchange situated in Australia which supports AUD, USD and ND deposits will not allow a holder in New Zealand to make deposits, despite accepting the NZD currency.
Ledger Wallets are multipurpose hardware wallets that shields you from hacks and numerous backups. You can use either the Nano S or Nano x to store over 1000 coins while transferring and receiving payments with ease. See a detailed review on Ledger brand of hardware wallets.