Cryptocurrency has proven itself to be an attractive investment in
Cryptocurrency has proven itself to be an attractive investment in its short life-span, and the number of users jumping on the investment bandwagon has increased exponentially over the years. If you have decided to be a part of the trend too, the first thing you would need if a cryptocurrency wallet.
This article will help you understand more about these wallets and also list the top 5 desktop wallets for cryptocurrency of 2019.
There are three kinds of wallets which you can use to hold, send, and receive the cryptocurrencies of your choice. The three main categories are mobile wallets, desktop wallets, and hardware wallets. This article will discuss in detail about various aspects of desktop wallets.
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What is Desktop Cryptocurrency Wallets?
Cryptocurrencies are a digital form of cash, and they are basically a bunch of computer codes. So in order to hold and save these digital currencies, you need a special kind of wallet which provides a safe and secure option to trade.
Consider wallets as the bank safe, where you hold a key of your locker and another key is held b the bank, and you can only open the locker if both the keys are inserted into the locker, making it tamper proof.
Cryptocurrency wallets work on the same principle, the personal key is called private key, which is a unique combination of numerals and alphabet. There is a public key attached to our wallet address and when both the keys are combined, it verifies the address.
Desktop wallets can do everything that any other form of wallets does, and it is much easier to use and manage than others. Using a desktop wallet is as easy as any other software application on our PC.
So, let us dive deep and see the top 5 desktop wallets and their features.
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Top Desktop Wallets of 2019
1. Exodus
Exodus is one of the top-rated desktop wallets for its security features and multi-currency support. It allows the user to manage their private keys, send, receive, or trade multiple cryptocurrencies and has good community support behind it for a hassle-free service.
The wallet saves the private key into the user’s hardware, thus your private key information is not thrown into the internet for hackers to steal or track your transactions. The wallet also provides currency conversion option within the wallet app, which helps both new and established users in converting one cryptocurrency to another.
Overall, it is one of the more trusted crypto wallets available in the market with impressive security features and ease of use. The wallet is compatible with Mac, Windows, and Linux. It also provides multi-currency support for some of the top cryptos like Bitcoin, Ethereum, and Bitcoin Cash.
2. Jaxx
Jaxx is another prominent name among the desktop cryptocurrency wallets and provides support for more than 70 different cryptos. The wallet comes with a centralized validation process for Private keys, giving the users total control over their security.
The wallet is compatible with Mac, Windows, and Linux. Apart from its security features, the wallet also has Exchange functionality present within the application. It means a user can exchange any of their digital currency for another.
3. Electrum
Electrum currently supports only Bitcoin transactions but the feature that made it in the list is its multiple signature support. Generally, a wallet is designed for personal use and it only supports one Private key at a time. With Electrum you can manage multiple private keys from a single account.
The multi-signature feature is a boon for business owners and partners with similar business interest. Since it supports only Bitcoin transactions, there is no exchange option available within the app.
The user has total control over their Private and Public Key, but the blockchain network is managed by specialized servers instead of locally downloading the complete node. The wallet has some amazing features like wallet encryption, fee adjustments, and address tagging.
4. Copay
Copay is another desktop wallet which only allows Bitcoin transactions, but you can compare it with top 150 cryptocurrencies. Just like Electrum, it has multi-signature support, that is more than one user can manage their crypto riches through one Copay account.
The transaction is only confirmed if it has all the required signatures, so you can be assured of the security. The wallet is developed by Bitpay and is meant to secure BitPay funds.
5. Armory
Armory provides cold-storage support for storing our crypto riches and has one of the most sophisticated systems for Bitcoin. These top of the lines security features make the wallet tamper-proof.
Another feature that might affirm your decision in favor of Armory is the feature of separating a business account from a private one. The wallet enables easy options for receiving and sending your crypto funds.
You May Also Read: Top Wallets For ERC 20 Tokens
Conclusion
There are hundreds of cryptocurrencies listed on the trade market, in order to begin your crypto journey you need a wallet, which serves multiple purposes of holding receiving and sending your funds. The most important part before selecting any wallet is to have thorough knowledge about it.
Choose a wallet which checks most of the necessities like security, private key management, ease of use, and how easily you can recover your account in case of any mishap.
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