This is a list of the best blockchain wallets for storing your cryptocurrency safely
#1: Ledger Nano S
PRO:
- Hardware Wallet
- Strongest security available
- Inexpensive
CON:
- Unforgiving if passphrase is lost
- Not free
The Ledger Nano S wallet is by far the best option for storing crypto. With a wide variety of support for most crypto currencies, this is the top solution for a hardware wallet (almost as good as an offline wallet)
What is a hardware wallet you might be asking yourself. A hardware wallet is simply a device you plug into your computer and it gives you access to your crypto. If you are to open the Ledger Nano S wallet without the device plugged in, you cannot access your coins (and neither can the hackers or other people trying to steal your precious crypto).
Where to buy the Ledger Nano S? The Ledger Nano S can be purchased on Amazon or the official Ledger website. When ordering from Amazon, make sure it’s an official Ledger Nano S that has been unopened. If the device has been tampered with, DO NOT PURCHASE !
The downside to this wallet is the security is SO good, if you forget your 24 word passphrase, there is no way to recover the funds. This is a benefit in the long run since the device is so unforgiving that it will stop most hacker attempts. Do not store your 24 word keyphrase digitally as this will give ANYONE access to your wallet if they have access to those words; Ledger or no Ledger.
#2 Exodus Wallet
PRO:
- Free
- OSX and Windows support
- Multiple cryptocurrencies supported
- Active development team
CON:
- No mobile app
- Locally stored (no hardware wallet)
Exodus is the best wallet for those who don’t want to use a hardware wallet to store any of their coins. With support for all operating systems and a plethora of coins, this is the best choice for the entry level crypto investor. If you are going to use a locally based wallet, please ensure you have a strong virus scan installed on your computer. A good virus scan for Windows is McAfee Anti Virius and for OSX we would suggest using Avast Anti Virus. This is the preferred wallet to store ERC-20 based tokens, however we still recommend using a hardware wallet like the Ledger Nano S.
If you’re not comfortable with the idea of a hardware wallet, we suggest installing a wallet such as Exodus and using a device called a YubiKey which does not allow access to your computer unless the Yubikey is plugged in. This is ALMOST as good as a hardware wallet because your computer will be locked safe when the YubiKey is absent.
#3 Jaxx Wallet
PRO:
- Free
- OSX , Windows, iOS and Android support
- Mobile App
- Multiple cryptocurrencies supported
CON:
- Previous security issues (now resolved)
- Locally stored (no hardware wallet)
Jaxx was our go to wallet in the past due to their amazing mobile app that allows you access your wallet on the go. However, having access to your coins via your cell phone could be a huge security risk if you lose your phone. Jaxx had some issues with security in the past and the development team seemed dismissive which turned us off of this wallet, however it is still in our top choices. If mobile access is a must to you, get the Jaxx wallet or stick with Exodus if mobile access isn’t important to you.