What is best wallet for bitcoin
BEST Crypto Wallets 2021: Top 5 Picks 🔓
if you plan on holding any
cryptocurrency one of the most important
decisions that you can make comes even
before you buy your first token it comes
before you even create your first
exchange account I am of course talking
about the type of cryptocurrency wallet
that you choose with so much value
stored for the long term huddle you have
to make sure that you have got the right
wallet one that is not only highly
secure but also functional and user
friendly so what is the right wallet my
name is guy and in this video I'm going
to answer exactly that I'm going to
reveal my top five crypto wallet pics as
well as the pros and cons of each I also
have some top storage tips for you that
you just need to know so be sure to
stick around till the very end for these
golden nuggets of wisdom before I lock
load and get ready to go there are a few
quick things I have to say I am NOT a
financial adviser so be sure to speak
with yours before making any moves into
crypto this video is also intended to be
merely an educational tool to support
your own research oh yes and a big shout
out to anyone new to the channel I make
videos like this regularly so if you
enjoy the content then make sure to join
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video alrighty so are you ready to
huddle to the moon let's explore these
wallets then before I jump into my list
of top crypto wallet picks I need to
explain why it's so important to use a
safe crypto wallet if this is something
that you already know quite well then
feel free to jump to the pics in the
timestamps that I provided below
now most crypto newcomers may not know
this but storing your crypto on
exchanges is not a good idea the reason
why this is is that when you keep your
coins on in exchange you're essentially
giving up ownership and control of your
crypto so not only does this mean you
have to fully trust the exchange
operators but it also means that if the
exchange was hacked you could lose all
your funds this has actually happened
quite a bit in the past one of the most
notable examples was mount docks that
saw over 850,000 Bitcoin
stolen in a hack this was the largest
Bitcoin hack in history and I actually
know a few early investors who lost all
their coins on docks
tens of millions in today's money of
course you also have exchanges which
have just plain scams from the beginning
a more recent example of this is
quadriga
CX the exchange was the coin base of
Canada and users over there lost over
190 million dollars worth of crypto also
some exchanges are suspected of running
fractional reserves with many users of
certain exchanges reporting that they
have a hard time or are unable to
withdraw their funds the key thing to
take away here is that if you don't hold
the keys to your crypto you do not
really own it there is a famous saying
that's repeated on numerous occasions in
crypto circles not your keys not your
crypto
by keeping your coins on an exchange all
you really have is a promise from that
exchange that you own a certain number
of coins and nothing more that's why so
many crypto people talk about taking
responsibility for your own crypto and
taking security seriously to take back
control of your crypto you will need a
crypto currency wallet so without any
further ado let me jump right into my
top five wallets at the number one spot
we have the ledger nano X and the ledger
nano s what's important to know is that
these are Hardware wallets that enable
you to store your crypto on a physical
device which looks a bit like a USB
Drive
another fun fact is that hardware wallet
devices like ledger store your private
keys and do not expose them to the
outside world
this provides defense against cyber
hacks like phishing scams and key
loggers so if you're looking for the
highest levels of security money can buy
then a hardware wallet is a sound
purchase private keys on ledger are so
secure that you do not even know them
yourself instead they're stored within
the device itself and secured with a PIN
number with a ledger any crypto thief
would need to have your ledger in their
possession and know or guess your PIN
number alternatively they could try and
guess your twenty word recovery seed
good luck to them on that oh yes in case
you wondered what a recovery seed is
it's a random string of words that you
can use to get access to your crypto if
you lose your device a pretty neat
backup we've led your hardware wallets
you also get access to ledger live which
is an app to manage the applications
installed on your device and enables you
to manage your different crypto accounts
this includes sending and receiving
crypto or even just checking your crypto
balances when it comes to the difference
between the legend nano X and the legend
nano s the former has a bigger screen
the ability to use Bluetooth to connect
to your mobile device the ledger X can
also store up to 100 applications on it
versus the four or five the nano s can
hold what's important to note about
ledger applications is that each
separate blockchain will have its own
app so you can use the ledger theory map
to store eath or any e rc 20 token and
you wouldn't need a separate app to keep
your ear safe this means that if you
want to hold a ton of different coins
than the number of ledger apps which can
be stored on a device will probably be a
big consideration of course there's no
point in getting a wallet if the coins
you want to store on it and not support
it the good news is that ledger supports
over 1,000 crypto currencies that's the
biggest range of crypto currencies for
any wallet out there you can basically
throw a dart at the first couple of
pages of coin market camp and the
chances are that the coin you hit will
be supported by ledger
another big consideration for most in
crypto is staking which is when you hold
your coins in a certain wallet and earn
interest ledger also supports staking
for popular coins like EOS tezo's Tron
neo waves and one chain in terms of
security ledger wallets are honestly the
best in class with no known hacks that I
can think of the only security breach
that I know of is when scammers buy
Ledger's open them up to generate the
recovery seat and resell the ledgers on
sites like eBay these nasty pieces of
work then wait for the buyer to send
their crypto to the ledger and gain
access to it using the recovery seed
however you can avoid that problem by
buying directly through the official
ledger site so be sure to do that when
it comes to integrations ledger honestly
works with a lot of stuff in the crypto
universe if you're looking to get
involved in d5 crypto lending and ledger
integrates with popular web 3 wallets
like meta masks so who can benefit the
most from a ledger Hardware wallet well
the legend an OS costs $59 with the
legend and her ex setting you back 119
dollars now that sounds like a lot
however you have to remember that this
is the most secure crypto wallet money
can buy the key question is if you
actually need that top-of-the-line
security or not put simply if you were
dipping your toes into crypto and want
to store a hundred dollars in coins then
I honestly don't think it's worth buying
one I would personally use that money to
buy more crypto and use one of the free
wallet suggestions that I'll get onto in
a minute
however if you think it's for you and
you're going to be mainly holding
Bitcoin aetherium and a bunch of ERC 20
tokens I'd go for the cheaper legend
nano s I don't see the need to shell out
more on the more expensive wallet if you
think you can benefit from a bigger
screen or want to hold a boatload of
different coins then the legend a net X
is probably the right option for you I
have to level with you I don't really
see the value in the nano X's bluetooth
connectivity and I frankly never felt
like using it however if you're one of
those guys that simply must use a device
like this on a mobile app then the X is
what you need if you're interested in
getting a ledger and want to support the
channel then please do check out the
ledger links in the description
my number-two safest wallet pick is
exodus wallet this is actually the
wallet that I typically recommend if any
of my friends are starting out in crypto
Exodus is a completely free multi
currency wallet that is available for
both mobile and desktop one of the main
benefits of Exodus is that it's super
easy to use has 24/7 support via live
chat a built-in crypto exchange and
supports over 100 different crypto
currencies oh yeah it also looks goddamn
beautiful too and you can view your
entire crypto portfolio at a glance on
the home screen so if you want all that
stuff in one simple solution and Exodus
is probably the wallet for you in terms
of supported coins Exodus supports
exactly one hundred and twelve coins at
the time of making this video here are
some of the most notable which should
satisfy most hot lers
I've also provided a link to the full
list of crypto assets supported by this
wallet in the video description in terms
of backup features Exodus provides two
key ways of regaining access to your
crypto in case your computer is lost or
stolen
number one is using a twelve word
passphrase that you generate when
creating your Exodus wallet
the second is an email restore feature
where exorcists will send a link to your
email which you need to click and enter
your password to get back access to your
crypto however although these backup
features are convenient the Exodus
wallet doesn't really offer the same
level of security as Hardware while it's
like ledger given that your private keys
are stored on your local device it could
be susceptible to malware that either
steals private keys or logs your
keystrokes all that being said Exodus is
way more secure than web wallets found
at exchanges and it's free too if you're
still worried about storing your keys
locally on the device it's great to know
that the security on Exodus is
upgradable this is due to the wallets
integration with treszura which is
another type of hardware wallet device
like the ledger this means you can enjoy
all the benefits of Exodus while having
your crypto secured by a hardware wallet
it's for this very reason that I think
that the Exodus and treszura partnership
is the most important strategic move
that the wallet creators have made in
short if you're looking for a free
wallet that supports a load of coins and
want a simple uncluttered interface then
honestly I would go for an exodus wallet
if you want to upgrade your security
later you also have the option to do
that by buying a treasure or Hardware
wallet and that is a great segue into
the next wallet on my list
the treasure Hardware wallet comes in at
number three similar to ledger you have
two different models to choose from the
original treasure one and the treasure
Model T I have to give it to treasure
there Hardware wallets are slightly
easier to use and setup than ledger
treads are share many of the security
benefits of ledger but they come in at a
slightly higher price point the
treasurer one comes in at $78 and the
treasurer T sets you back a cool 165
dollars the key difference between the
two models is that the treasurer T comes
with a bigger color screen and supports
microSD cards the treasurer one on the
other hand just has a black and white
screen like ledger
treszura supports over 1,000 different
crypto currencies so you can be pretty
confident that almost any crypto you
want to store will be compatible with
this wallet however treszura doesn't
support staking for the same range of
coins that ledger does the treasurer
wallet does integrate with the simple
staking wallet so you do have that
option honestly the main reason why
treasurer didn't feature higher in my
list is due to the crypto exchange
Kraken identifying a critical
vulnerability in Trez or hardware
wallets in a nutshell Kraken found a way
of cracking into a treasure in about 15
minutes by exploiting voltage glitching
in the device to get hold of the
encrypted seed the encrypted seed can
then be accessed by brute forcing the
pin number securing the funds yes this
sounds terrifying and you're probably
wondering how I can still rape tresor
after this the reason why is that this
Trez or hacking method requires the
crypto thief to have possession of your
treasure and a bunch of equipment to
pull off the hack now I don't know about
you but I'm not leaving my treasure
lying around anywhere willy-nilly and
I'm more concerned about cyber attacks
when it comes to crypto theft the truth
is that if anyone came after your crypto
in the real world and put a gun to your
head then it probably doesn't matter if
you have a treasure or the more secure
ledger
either way the bad guy is probably going
to end up with your crypto
in terms of key tressle partnerships I'm
going to have to mention that the Exodus
partnership again Exodus is honestly
such a popular free wallet and I think
it's a masterstroke byte resort to give
Exodus users the ability to upgrade
their security to sum it up Tresor is
the ideal crypto wallet for anyone that
wants first-class crypto wallet security
and needs it to be as simple and quick
to set up as possible I actually got my
trays or good to go in about 10 minutes
and I can tell you it took much longer
to set up my ledger if you really need a
bigger screen then the treszura model T
is the way to go however I think most
people are probably best off saving the
extra eighty seven dollars and going
with the Tresor one so if you think
Tresor is the wallet for you then I'd
love it if you supported my work by
using one of my trestle affiliate links
in the description
my fourth favorite crypto wallet is
trust wallet and it's one of the best
options out there for anyone wanting to
carry around their crypto on their
mobile the app can be downloaded for
free from the Apple App Store Google
Play and Android trust wallet is also
another multi crypto wallet and is able
to interact with decentralized
applications directly through the app
thanks to its Web 3 browser so if you
want to play some crypto games or have
the option of using your wallet with
daps
then Trust wallet is the way to go trust
wallet is also fully open source this
basically means that the underlying
software code is open to all to audit
and verify generally open source
software is viewed favorably in the
crypto space as it means the community
was able to independently verify the
security of said code so that's a plus
something else that works pretty neat is
that this wallet also works perfectly
with the by Nance Dex and Kaiba network
protocol that means you can make instant
trades of decentralized exchanges with
no fuss at all passive income' fans will
also be pleased to know that trust
wallet supports staking for cosmos Tron
and teasers
in terms of coin support trust wallet
allows you to store all a RC 20 tokens
all tokens issued on Tron and by Nance
chain plus a bunch of other top crypto
currencies like Bitcoin XRP and litecoin
honestly as long as you're wanting to
store pretty well-known crypto
currencies trust wallets should have
covered
in terms of security concerns I've not
heard about any trust wallet hacks
however what's for sure is that the
wallet will never be as secure as a
hardware wallet you still have risks of
local device intrusions having said that
I should point out that it was one of
the first acquisitions by by Nance and
the exchange uses it as its official
wallet so this is no doubt a vote of
confidence in my opinion in summary
trust wallet is an ideal choice for
anyone wanting free multi crypto wallet
app to manage your coins on the go I've
popped a link in the description in case
you want to try it out ok so it's time
for my final crypto wallet pic and I'm
going to go for meta mask this wallet
can be used as a browser extension on
Google Chrome Firefox and the brave
browser this basically means it acts
like a kind of bridge between standard
web browsers and the etherium blockchain
if you're looking to store a ton of
different coins then I'm going to have
to stop you right there and just say
that meta Mask is not for you the wallet
only supports aetherium and ERC 20
tokens so limited on that front yet a
pretty cool thing about meta mask is
that it links directly with coinbase and
shape-shift which makes it super easy to
buy 'if or ERC 20 tokens it's also
pretty easy to use too when it comes to
security I've not heard about any meta
mask hacks it uses HD backup settings
and has a strong community of developers
constantly updating its source code
which is also open source however the
most common security threat to metal
mask users will be phishing attacks so
just be careful when you enter your meta
mask password when it comes to
integrations this is where meta mask
really shines if you're looking to get
involved in the defy ecosystem by
earning interest on defy loans giving a
crypto loan or even trading on
decentralized platforms like synthetics
then you can do all that with meta masks
pretty much any DAP in defy or any
aetherium based app for that matter
integrates with meta mask in short if
you're even mildly interested in
exploring some of the dams on the
etherion blockchain then a meta masks
wallet is basically a must-have it
also a pretty beginner-friendly wallet
and it's completely free too
however if you don't want to be
restricted to aetherium and ERC 20
tokens then I would honestly look at
other wallet options and that's it my
list for the top five wallets in crypto
the best wallet for you will honestly
depend on what coins you want to store
the functionality you need and what
level of security you're comfortable
with if you want to go for the best
crypto security out there then I would
certainly recommend going with a ledger
or treasurer
however the free wallet I've talked
about are also very solid options - the
truth is that just having control over
your own private keys and keeping your
funds off an exchange already makes your
crypto more secure than most people's
having said that though you still need
to take precautions with some wallet
security 101 always backup your seeds
and store them in a secure place if
you're using desktop or mobile wallets
be sure to keep your devices malware and
virus free basically don't click on junk
and finally haughtily your coins in
secret no one needs to know that you own
any crypto and when anyone does you make
yourself vulnerable
not even the strongest Hardware wallet
can stop the $5 wrench attack
and that my fellow crypto pians is the
end of my video what do you think about
my crypto wallet pics though are there
any others that you think should be on
this list I'd be super interested to
hear your comments below also if you got
value from this video then please don't
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your keys not your crypto thank you for
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