Cryptocurrencies are bigger than ever and can be used to buy everything, from art to pizza to betting on poker games. Crypto exchanges are also growing in popularity as many of the top cryptocurrencies have become popular investment instruments.
However, everyone needs to put their crypto somewhere, in between trades or purchases – enter the crypto wallet! Crypto wallets have increased in use and ubiquity as crypto has become mainstream and there are now more crypto wallets to choose from than ever before.
There are now so many crypto wallets that users can choose between wallets designed for desktop, Apple or Android devices, and wallets that prioritize certain cryptocurrencies or have intense security measures in place.
Not all crypto wallets are created equally, however, so we have compiled a list of the crypto wallets that have been designed to be the most compatible for Android users.
What are crypto wallets used for?
Crypto wallets are essentially devices (some are digital and others are physical devices) that store the public and private keys associated with cryptocurrency transactions. If you have ever heard the stories about millions of dollars’ worth of Bitcoin disappearing because a code could not be found, then you will be able to appreciate just how important these devices are!
Many users will have a crypto wallet for their NFT purchases, for example. Users can visit an NFT marketplace such as OKX and use the crypto in their crypto wallets to buy the NFT they are interested in. An NFT marketplace such as OKX makes this process as streamlined and simple as possible because they are fully optimized for crypto and crypto wallet use.
This is considered one of the top (and most popular) crypto wallets currently on the market. The Bitcoin Wallet app allows users to store their Bitcoin (BTC), Bitcoin Cash (BHC) and Ethereum (ETH), and to send and receive payments in crypto as well.
Users are able to switch between currencies and enjoy a number of convenient and time-saving features. However, there are fees attached to these services and some of these can really add up, depending on the number of transactions you process on a monthly basis.
Coinbase is one of the biggest crypto exchanges currently on the market but it has a number of other tools and services available to users. Coinbase Wallet users can hold and transfer crypto to and from their wallet and it allows them to track the price fluctuation of the biggest currencies.
Coinbase Wallet holders can also buy many of the biggest cryptos using their wallet, which is incredibly convenient. This is not an account you can open in a few minutes, however – Coinbase takes security and KYC very seriously and the verification process can take a while.
Gemini is another handy platform that, like Coinbase Wallet, has both a wallet tool and a crypto exchange feature available for users. Gemini users can buy, sell and store a number of different cryptocurrencies, including the biggest coins such as Bitcoin, Doge, Bitcoin Cash and Ethereum, along with a number of niche currencies.
The app implements 2FA on each account, which provides users with additional security, and it has features that allow users to set price alerts so they know when to sell. This is also one of the few apps in the industry to offer iOS support, which is impressive and a sign that they care about their customers.
In short, Gemini is a good platform for traders who always want to be on top of the next deal.
Just like the donut, Eclair Mobile is a convenient, beautiful little creation. This app is a Lightning Network-compatible Bitcoin wallet that is incredibly stylish and easy to use.
Eclair Mobile is only for Bitcoin, however, and users of other cryptocurrencies may need to look elsewhere. Hopefully as the platform grows, it will expand to other currencies as well.
Exodus is one of the more popular crypto wallets and after trying it out, it is not hard to see why. This simple wallet allows users to swap between dozens of different coins and lets users transfer and receive crypto through the app itself.
On top of that, the Exodus app encrypts private keys on your phone so no one can steal them, which provides an excellent degree of security. The only (minor) downside is that the app can lag slightly on busy days, but this is to be expected with such a popular app.