Crypto wallets come in various forms, each with their own purpose. Mobile wallets enable you to earn and spend your coins on the move, but sometimes lack the advanced features and detail of desktop wallets. Hardware and paper wallets are useful for offline or “cold” storage of your assets but can be inconvenient for conducting frequent, small transactions such as faucet collecting. Online and micro-wallets are super convenient and use to use, but can be vulnerable to hackers and other online attacks. Desktop wallets generally contain the best features for most people who work online. You are advised to do some research about the wallets listed here and try some out to see what suits your needs best.
A word of caution (or a few words, actually)
These points have been learned through trial and error. Use or ignore them at your own risk.
- Don’t store your cryptos on exchanges, especially large amounts.
- It is a good idea to use wallets that give you control of your private keys.
- Some wallets use a higher fee structure than others in order to ensure your transactions are processed quickly on the blockchain. If you use wallets that operate with lower fees you have a higher chance of transactions getting stuck than if you use a higher fee option. This is not normally a problem but it can happen from time to time… and always just when you don’t want it to.
- If you don’t hold your keys, you don’t hold your coins.
- An exchange is not a wallet.
- Do your own research.
Ok, so let’s take a look at some of the great wallets out there…
Desktop wallets are the go-to wallets for people who use a pc or laptop to do their crypto earning or trading at home. They are usually highly functional, with great features such as inbuilt exchanges, coin charts, control of your keys, and attractive designs. Make sure you have a backup of your private keys, and keep your device secure with a firewall.
Mobile wallets are great for people on the move. Some of these can be linked to your desktop version of the same wallet. Check that your wallet allows backups and has good security. You don’t want to lose your coins if your phone gets lost or dies.
Micro wallets are like an online bank account that specialize in receiving a lot of small payments and combining them into larger amounts which you can then withdraw all at once and send to your desktop or mobile wallet. Micro wallets are particularly useful for faucet collectors, but are not normally recommended for long term storage of large amounts of coin.
The number of available micro wallets has changed over the years as the crypto-earnings industry has evolved. These days, many large earning platforms provide adequate medium-term storage and even pay interest on your balance, enticing users to make less frequent withdrawals to their desktop or cold storage wallets. Thus, most micro wallets have disappeared.
FaucetPay is a versatile micro wallet that allows a user to collect coins from a network of established faucets and earning platforms. FaucetPay also has its own inbuilt PTC and offerwalls, so you can earn directly on the site. It supports a number of popular cryptos and is easy to use.