Trezor and Ledger . cold wallets
On the market today, there are 2 types of cold wallets that are very popular: Trezor Wallet and Ledger Wallet. The price of these 2 wallets is about 2,000,000 VND.
It can be said that this is the safest wallet at the moment. Trezor Wallet and Ledger Wallet works like the principle of a USB, and in fact looks like a USB. Your job just needs to transfer coins to the wallet in Trezor and Ledger, no need to do anything, as simple as that.
Before using Trezor and Ledger wallet, it will initially ask you 20 random questions and you choose the answer, then you will write it out to save (note this carefully). In addition, you must save the Private Key and keep it safe. This will be used to retrieve the password in the event of a problem.
I say it’s safest because every time you withdraw coins from your wallet, you have to press the confirmation button (mechanical buttons on Trezor and Ledger) to be able to withdraw coins.
However, the use of this wallet is only suitable for those in need long-term coin storage, there is no need to buy and sell regularly, and especially the brothers “hold to die”, throw coins there later as a dowry for their descendants.
Advantages of Trezor, Ledger wallets:
- Safe, even the most secure today because no one can hack without a Private Key
- Support a lot of coins such as: Bitcoin, Ethereum, Ripple, Zec, Dash, Litecoin, XEM, BCH, …
Disadvantages of Trezor, Ledger wallets:
- Every time you need to sell coins, transferring coins will be quite cumbersome, sometimes leading to the operation without missing a good price.
Have a lot of Bitcoin wallet reputable and safe online, in which the prominent wallet is:
Blockchain wallet currently supports 4 coins: Bitcoin, Ethereum, Bitcoin Cash and Stellar (XLM), stablecoin PAX.
This is a very safe place to store Bitcoins. Creating a wallet is quite simple, just register an account, verify the account, you can create your own wallet. However, blockchain.com only supports 5 coins – quite a few.
However, when you store Bitcoin here, it means you can’t buy and sell here, but have to move to other exchanges to sell. It will take a little more time because it has to transfer coins.
Similar to Blockchain wallet, Coinbase wallet is also very good. Currently, Coinbase is supporting the following coins: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin (LTC), ZRX, Basic Attention Token (BAT), USDC, ZCash (ZEC), Bitcoin SV (BSV), Ripple (XRP) ), Stellar (XLM).
Similar to when you store Bitcoin in a Blockchain wallet, you will need to transfer coins to the exchange if you want to sell these coins.
Advantages of Blockchain wallet, Coinbase wallet
- Very fast withdrawal, easy to use interface.
- Low withdrawal fees.
Cons of Blockchain wallet, Coinbase wallet
- Can only store, if you often buy and sell transactions, this wallet is not very suitable because it is a bit inconvenient when transferring coins through exchanges to sell.
- And when there is an issue such as the coin deposit has not arrived, is stuck… it is also difficult to contact support
This can be said to be Bitcoin wallet Most convenient, you store directly on Bitcoin exchanges. You can completely withdraw, as well as buy and sell Bitcoin at these exchanges. In particular, exchanges often support a lot of coins, so you don’t have to spend too much effort to find coin wallets, especially junk coins.
Reputable Bitcoin exchanges in the world: Binance, Huobi, Okex, Bittrex… These are the top exchanges, supporting many coins, with huge trading volume.
Those are 2 major international exchanges, popular with Vietnamese investors, you can refer to. Besides, if you want to use “home goods”, you can refer to Remitano exchange and Bitmoon exchange. These 2 exchanges both have the great advantage that transactions in VND are convenient for those who want to “cash out” VND and both support storing coins at the exchange.
Advantages of floor wallets
- Convenient, in addition to Bitcoin, it also supports many coins that can be bought and sold at any time without worrying about falling in price, usually well supported because they are always online.
Disadvantages of floor wallets
- Many brothers do not like to use the floor because they are afraid of being hacked, afraid of crashing. However, from a personal point of view, reputable exchanges will be safer. But in exchange for convenience, it’s up to you to decide.
If you are a “hodler”, then I recommend that you use a cold wallet, the exchange wallet is only suitable for regular traders.
Store Bitcoins on your phone
The phone wallet has 2 wallets that I think are very good today: JAXX wallet and EXODUS wallet. Phone wallets are quite convenient, bring your phone and can be opened to withdraw at any time.
However, personally, I do not like phone wallets very much. Many people say that a phone wallet is safe, in fact it is a feeling of security, because the phone is always with them. But it has a rather banana drawback, that is when there is an issue such as: Loading coins is stuck, slow … or something else, you won’t know who to contact, quite annoying. So I don’t use a mobile wallet.
Above are my assessments of the top 5 most popular Bitcoin wallets today, you can refer to the advantages and disadvantages of each wallet to make the choice that best suits your needs. Wishing you success!
Virtual Currency Corner