Choose a wallet for store cryptocurrencies It is not easy, since various factors come into play. There are those who choose to choose the safest model, the one that supports the most types of cryptocurrencies, the one that costs the least money or the one that has the most memory capacity. Because it is already known that the more storage space there is, the more types of cryptocurrencies can be stored. But what is the wallet What other crypto is compatible?
As indicated by Roams, the first thing to know is that there are wallets hot and cold depending on whether they are connected to the internet, as is the case with the first (digital wallets) or are they offline (physical wallets or a software). Although yes, not all wallets They allow any cryptocurrency, but there are some that have more digital assets supported than others. But not only the type of wallet comes into play, but also the action that we want to carry out with the cryptocurrency, whether it is buying, exchanging or sending, among others.
within the wallets cold, the best known are Ledger and Trezor, being the first the one that supports the largest number of cryptocurrencies and tokens. Currently, there are more than 5,500 supported crypto assets on Ledger; while in Trezor there are just over 1,800, according to data collected by Roams.
The purchase of this type of purses carries an economic cost since they are sold in physical format. Something that makes them the safest option, as they are not connected to the network. Both Ledger and Trezor have two wallet models respectively.
Inside Ledger are Nano X and Nano S, whose main difference is in the memory available and the price. To store a cryptocurrency, it is necessary to install the crypto-specific application within the wallet. In the case of Nano X you can get to install up to 100 applications simultaneously; while in Nano S only up to three. Therefore, it is the Nano X model that has the most storage capacity and, therefore, its price is also higher. €149; while the Nano S is the least and costs €59.
To find out how many cryptocurrencies are supported on Ledger, it is important to note that not only the type of wallet chosen (Nano S or Nano X) comes into play, but also the type of action What will be done with the cryptocurrency? In this way, if we choose some of the most popular assets today such as Bitcoin or Ethereum, we would have the opportunity to buy, exchange and send/receive with the aforementioned cryptocurrencies; while if we choose another one like Binance Coin, it is only available in purchase and sending/receiving.
In Trezor there are also two models available: Trezor One and Trezor Model T. Considering that the Trezor wallet brand supports 1,816 crypto currencies, it should be noted that the Model T is the only one that has all digital assets compatible. The Trezor One is not far behind, as it supports a total of 1,808. Some of the best known are Bitcoin, Ethereum, XPR, Tether USD, Litecoin or Tezos. Prices range between €71.39 for the Trezor One model and €228.69 for Model T with some of the differences that we present below.
Source: Trezor.
About hot purses or hot wallet, there is a greater variety when choosing, but it is true that not all of them are compatible with all cryptocurrencies. Some of the most well-known wallets, according to Roams, are Trust Wallet, Exodus, Coinomi, eToro Wallet or Coinbase Wallet.
One of the ones that supports the most digital assets is Trust Wallet with more than one million. It has among its ranks crypto known as Bitcoin, Ethereum, Dogecoin and Polkadot; and others that are less like Zilliqa, Decred, Near or Harmony, for example. For its part, Coinbase wallet supports more than 4,000 assets and Coinomi about 1,770 crypto assets. And with a support service for just over 100 cryptocurrencies are Exodus (150) and eToro Wallet (120).
Hot wallets are usually free. They work connected to the Internet and can be managed through the web platform or by installing an app, either on the computer or on the smartphone. It is precisely the internet connection that makes access much faster, but also more insecure against possible hacks that may occur. Although yes, a hot wallet is much safer than a exchange of cryptocurrencies, because the latter move a greater amount of capital and are usually juicier for hackers.
In the end, the differences between one type of wallet and another is remarkable, also taking into account the type of cryptocurrencies that each of them supports. But the truth is that to opt for one or the other, the first thing you need to know is which cryptocurrencies you want to store and, based on that, analyze which are the compatible wallets.
