How do you choose a wallet for your crypto?
If you are new to crypto or just looking at a new wallet. You may wonder “How do you choose a wallet for your crypto?”. Well, in all honesty. It ain’t that difficult but very important that you choose the right one tho. In this blog, we take you over the steps and think you need to think about when getting a new crypto wallet.
Step 1 – What kind of wallet do you want?
So there are 4 different types of wallets out there. Web wallets, Mobile wallets, Computer wallets, and Hardware wallets. But what kind of wallet is best for you depends on the device that you want to use it on. Choosing one should be easy. Take a Web wallet if you want to access the wallet from your internet browser. A mobile wallet if you want to use the wallet easily on your mobile phone. A computer wallet if you want to have it on your computer but not in a browser format. And a hardware wallet if you want to go for maximum security for storing larger funds.
Step 2 – Do you want to be responsible for save keeping your funds?
You can either hold/store the crypto yourself in a non-custodial wallet. Or give that responsibility to someone else. AKA a custodial wallet. Many people say that a Custodial wallet is not a wallet as you do not hold the keys to the funds. However, Custodial and non-custodial both have their own benefits. With custodial being easy to use and taking the responsibility away from you. And non-custodial giving you much more control and privacy.
Step 3 – What blockchain do I want to use?
Well, this should be simple. You probably already know which blockchain(s) you want to use. Some wallets do only support one chain. But many also support multiple depending on the chains you want, you should find one easily.
Step 4 – Choosing to use certain tokens and sidechains
In case you want to use tokens on Ethereum you probably want to look for a wallet that can display them. The same of course goes for other token protocols. After that, you also want to think about sidechain support. A sidechain is a layer on top of one blockchain that usually is meant to scale the network. Sidechains like Lightning network or Polygon can help a lot when you want to do a lot of transactions at a low cost.
Step 5 – Do not forget the extra’s
There are so many extras a wallet can have. From fiat onramps to web3 support. On our extras tab, you can see some examples. That can give you some inspiration for what there is. The wallet extras can be nice but are not a necessary thing to add. So it is probably best to not add too many unnecessary things
Step 6 – Find your crypto wallet with the Yada wallet filter
Now that you have decided on all the things you want in your new crypto wallet. You can fill in the filter on the Yada Wallets “find your wallet” page. On the left side of the page, you see the wallet filters. After you do this the website will show you all the wallets that have the features you want. Just in case the page shows you a lot of wallets. It would probably be best to go with the one with some good reviews.
Thanks for reading!
We hope this blog answered your question about “How do you choose a wallet for your crypto?”. But in case you still have some questions regarding wallets or Bitcoin. You can ask us in one of our help groups on Facebook or Telegram. Because we are happy to help as much as we can! But if you have any other questions you would like us to answer in a blog? Feel free to let us know!