What Makes A Cryptocurrency Wallet Right For You?

Thinking of buying cryptocurrency? You'll need a wallet first. Here are some things to consider.

What's in a wallet?

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If you’re thinking of investing in cryptocurrency, or if you already own some, you’ll need a place to it. Enter the cryptocurrency wallet, built to hold your investments. Most crypto wallets let you buy right from your bank account, hold onto your investments, trade them for other cryptocurrencies and trade them for dollars or whatever currency is used in your home country.

Since more businesses accept bitcoins in return for goods and services, you can use your wallet to make payments. You can pay a friend for your half of the dinner check. You can hold on to your coins as an investment.

The question facing the new investor is which wallet to choose. There are as many wallets as there are crypto coins. Different wallets provide different benefits to the user. Some are fairly straight forward, built just to store, trade, buy and sell cryptocurrencies. Others are tied to whatever it is that the company that created the wallet does. It’s important also to consider transaction fees.

Whatever you are looking for, there’s a wallet for you. Here are a few from you to choose from.

Coinbase is the mother of all wallets. It’s both web-based and mobile, with iOS and Android versions. If you want to move up to a more sophisticated platform, Coinbase offers the Coinbase Pro trading platform. The only drawback to Coinbase is it only supports Bitcoin and Etherium coins.

Ares Tech is a social gaming platform. If you’re a gamer, the Ares Wallet is the wallet for you. The Ares Wallet integrates with the ares arena so players can store their fighters, artifacts, pets and other game assets as well as their cryptocurrencies. It supports BTC, ETH, all ERC20 tokens and major NFT assets.

Abra has Gwyneth Paltrow as an advisor but there’s more than Hollywood glamour to this entry in the wallet market. Abra lets you buy, sell and invest in 30 crypto and 50 fiat currencies, just about the most of any wallet. And Abra is mobile only, going on the theory that you can buy, sell or spend anywhere.

Once you settle on a wallet, you’re well on your way to the world of cryptocurrency.

There are as many wallets to choose from as there are crypto currencies. Maybe more. But whichever wallet you choose be sure it has the features that most closely align to your needs. If you need low fees and mobility, Abra might be right for you. If you are a gamer, the Ares Wallet might be perfect for you. Look at the fee structure. And make sure it’s secure. And make sure it fits your needs.