- What is a crypto-currency purse
- The main types of cryptotices and their differences
- How to choose a purse for storing crypto currency
- What are the cold wallets for the major currencies
- What are the multi-currency desktop purses
- What are the best online purses for storing crypto currency
- What to choose a mobile purse for crypto currency
- Hardware wallets for crypto currency storage
- How to ensure the security of a crypto-currency wallet
What is a crypto-currency purse
The main types of cryptotices and their differences
If you decide to purchase, or exchange the crypto currency, the first thing to do is to choose a reliable multi-currency purse. Without the electronic wallet, the accumulation or use of crypto currency is impossible, since it does not have a physical embodiment.
A separate purse for each crypto currency
With this option, the user can install a separate electronic wallet on his computer. This approach will provide a secure way of storing crypto currency, because each of these wallets allows you to control a private key. If the private key is kept in a secure place, then the user can be fully confident in the security of the crypto currency. However, this method has drawbacks. A large number of disparate Internet wallets delivers inconvenience to their use, so separately for each of them it is required to save unique keys. If you lose one of them, you will lose all the crypto currency from the wallet.
Many users prefer to store crypto currency on exchanges. This is convenient because trading pools support many different crypto-currencies. The drawback of keeping the crypto currency on the exchange is that most of them are not insured against hacking, and they are also constantly exposed to hacker attacks, which is a threat to the safety of the funds. If you do not trade on stock exchanges, it is better to choose other storage options for crypto currency.
Now there is a wide variety of mobile wallets, both for Android and iOS. Many multi-currency online-platforms support the mobile version. Choose a mobile wallet, it’s better for those who have small but frequent transactions planned.
Cryptotics in the form of browser extensions
In this segment, the Jaxx service has become very popular. It features convenient functionality and flexibility of settings. Choose a mobile crypto-browser in the form of browser extensions, it’s better for those who spend most of their time and work at the computer.
A multi-currency wallets are a good store for crypto currency. In making their review, you can note that the best is the Exodus wallet, which has control over the private key and the built-in ShapeShift exchange platform. Choose a multicurrency wallet, it is better for those who carry out permanent transactions in different currencies.
This type is considered reliable, as it provides the maximum safe, “cold storage” of crypto currency in a protected, isolated environment. The review showed that Trezor, Ledger Nano S and KeepKey are the most popular wallets of all in this segment. Select the hardware (cold) purse, it’s best for all those users who are worried about the security of their transactions.
How to choose a purse for storing crypto currency
The choice of a purse depends on the tasks that the user put before himself, in advance of how to start using crypto currency. It’s worth knowing that the very number of cases when a user loses crypto-currency due to the hacking of an electronic wallet is constantly growing in the world. And only the user is responsible for choosing the wallet and the measures that are used to protect his savings.
For small amounts that are needed for testing, it is enough to use online or mobile purses that have an acceptable level of protection.
What are the cold wallets for the major currencies
Cold Wallet for Bitcoin (BTC) – Bitcoin Core
Bitcoin Core is the most reliable cold wallet for storing bitcoins. It requires a lot of hard disk space and can therefore be installed on the computer. Installation on a tablet or mobile phone is not possible. Access to the wallet is only you. Bitcoin Core has the highest level of security, so the risk of penetration of scammers is minimal. This is the main advantage of this cold wallet. If you chose the cold wallet Bitcoin Core, then you can download and install it at bitcoincore.org.
Cold purse for Ethereum (ETH) – Mist
Mist is the official electronic wallet Ethereum, it makes sense to install it. Despite all the convenience in its careful review, the shortcomings have also been revealed. First, Mist is a heavy client. This means that the user has to download the whole Ethereum unit to use the service. Therefore, you need a lot of free hard disk space to program the program. Also for beginners is the process of synchronization with the blocker.
Cold purse ripple (XRP) – Rippex
Rippex – multicurrency purse for local storage. This is his most important difference from other wallets, which also offer the storage of Ripple crypto currency, but only in online mode. Purse Rippex is known on the market for many years. No serious complaints were recorded by users. The project is serious, it will continue to develop. If you chose a cool purse for Rippex, then download and install it by visiting the rippex.net website.
What are the multi-currency desktop purses
Jaxx is an application to the browser that supports 14 kinds of crypto currency. Its protection is not inferior to desktop versions of wallets, where the key phrase is 12 words, and it is impossible to pick it up). In the Jaxx wallet there is a customization service for you, this is the most important advantage when choosing a purse.
Exodus is a “cool” purse that is installed on a PC or laptop. In the Exodus purse you can store 8 kinds of crypto currency. Advantage is the built-in service ShapeShift which provides an instant transfer of crypto currency, as well as multi-level protection against hacking. When choosing a cold purse Exodus, the user can not worry about their means.
Agama’s electronic wallet was created by SuperNet. The purse is designed to store Komodo coins, but also has the function of adding other companion altoquins. This wallet is currently actively developing. In connection with the addition and testing of new functions, a number of problems may arise. If you plan to make many transfers or keep large amounts of Komodo, it is better to choose the purse Komodo CLI.
What are the best online purses for storing crypto currency
Coinkite multicurrency wallet, created by Canadian developers in 2010 and allows you to quickly carry out transactions with Litecoin and Bitecoin. If you choose this purse, you need to know its advantages and disadvantages.
Advantages of Coinkite purse:
- high level of information protection.
- mobile version available;
- no commission for replenishment;
- there is two-factor authentication  there are payment terminals;
- the speed of registration and account opening;
- convenient interface.
Disadvantages of Coinkite purse:
- lack of Russian;
- there is a commission for the withdrawal of the crypto currency from 0.01 to 0, 05%;
- the commission depends on the increase in the amount of the tranche actions.
HolyTransaction company offers its services in 2014. HolyTransaction is a universal multi-currency purse in which you can store the following crypto currency: Bitcoin, Ethereum, Zcash, Decred, Litecoin, Dogecoin, Peercoin, Dash, Blackcoin, Tether, Gridcoin, Faircoin, Gamecredits and OmniLayer. The wallet is installed easily and instantly, right on the site, without downloading the software to the computer. Right in your wallet you can exchange all popular currencies. Send payments in any currency with instant conversion.
In 2014 the electronic purse Cryptonator appeared. Cryptonator is a multi-currency purse in which you can store 11 kinds of crypto currency. In the Crypto, you can instantly exchange the Crypto currency. Disadvantage – all means are controlled by the Crypto, and in the case of hacking the service, the user loses them. Also, users do not approve of charging a small commission for withdrawing funds to cards, as well as high fees for converting multi-currency accounts within the account.
Blockchain – a virtual bitcoin-woftware service that was founded in 2011. In December 2013, the site became the most visited on the topic “Bitcoin”. In winter 2015, the Internet resource was announced by 3 million users. In the summer of 2016, the number of transactions through reached 100 million. In mid-2017, the site’s creators announced an investment of $ 40 million. Consider the advantages and disadvantages of the Blockchain wallet.
Advantages of the block:
- storage of the crypto currency at the same time for all members of the system;
- transparency of information on transactions;
- transactional failure;
- transfer of codes directly from the payer to
Disadvantages of blocking technology:
- low speed of transfers when the base is overloaded;
- the operation of the technology requires large capacities;
- the high cost of technology.
CoinsBank was founded in We ikobritanii in 2016. The service supports only two crypto-currencies – Litecoin and bitcoyne, so this service can not be called multicurrency. But CoinsBank can really be equated with the bank about it says its name. And since this is a bank, the purse in this service is all just one of many services.
The advantage of CoinsBank’s purse is that it is supported by bank cards that are attached to the account. A wallet with cryptovalta and a plastic card can be combined into one account. That is, having received a crypto currency for a purse, you can immediately go to an ATM or a store and pay with a plastic card.
There are no significant significant drawbacks. BitGo was founded in 2013 and is considered to be the best multi-currency wallet that exists today, even though the mobile version has not been released.
Among others advantages of BitGo it is worth to say separately that it is distinguished by a high level of security; for example, two-factor authentication via a mobile phone is installed at the time of the creation of the purse.
The drawback is that BitGo does not have a mobile version and Russian language support. But the wallet has a high degree of security: two-factor authentication (by sms)
- shared key storage;
- transaction signature;
- BitGo commission is 0.1% of each outgoing payment.
A positive moment in this system is an insurance guarantee, which is that if the provider’s money is lost from the purse, the company undertakes to return all funds in full.
Webmoney is the oldest participant in the market for accounting technologies year of foundation 1998). The system offers users both online calculations and mobile payment technology.
This is a universal multi-currency Internet calculation tool, environment and technology for business and e-commerce. The system ensures equality of counterparties, high speed of transactions.
Using an electronic purse Webmoney, it is possible to carry out transactions in the form of transferring the monetary rights of a claim to the benefit of another user who registered an electronic wallet in the system, and in favor of other third parties who accept such the right of claim as payment for goods / services. The history of transactions (WMU transfers) is reflected in the history (“statement”) by the wallet of both counterparties and stored in the database of the system. Today, WebMoney services are used by about 5 million people who have electronic purses in hryvnia open, which makes it one of the largest players on the domestic market of electronic payment technologies. It can be said that Webmoney is the most famous and popular online wallet.
Bitfinex is registered in Hong Kong in 2012. The creators of Bitfinex have set themselves the task of constantly updating and developing their service, and therefore this virtual step has moved far ahead, and has many advantages:
- low commission fees, calculated on the basis of Maker-Taker from 0 to 0.2%;  availability of the Russian language
- developed an application for smartphones;
- a high level of security;
- convenient trading and analytical tools;
- there is a possibility of withdrawal in $.
The Exchange was founded in Spain in 2013. Exmo – combines all possible uses of crypto currency. This is one of not many multi-currency crypto-exchanges, which provides users with the function of Cashback – a commission of up to 60% for any purchase on the exchange. Exchange EXMO can exchange various crypto-currencies for other virtual money. After the exchange, you can withdraw funds from the Exmo exchange to any convenient payment system.
Consider what are the advantages and disadvantages of this exchange.
Advantages of the Exmo Exchange:
- audience orientation from all over the world;
- the website has a large number of translations;
- a simple interface;
- there is a mirror.
Disadvantages of the Exmo Stock Exchange:
- there is no mobile application;
- a small amount of currency pairs.
What to choose a mobile purse for crypto currency
According to the manufacturers of mobile purses, the latter provide the highest level of protection. Although statistics say the opposite – most cases of theft are accounted for by mobile wallets. Therefore, it is better not to store large amounts in a mobile wallet. It is best to keep the amount that is required for ongoing transactions. The advantage of all mobile wallets is that they are the most convenient in comparison to other types of virtual wallet.
Coinomi – designed specifically as an Android application in which tools are stored and exchanged through the ShapeShift service. The only downside – this platform can not use a gadget that does not have an Android operating system.
Copay is the first mobile multi-currency Bitcoin wallet and created specifically for the Windows Phone system. The creator, which is the company BitPay, originally planned to use the purse for settlement with trade organizations and legal clients. Copay is not inferior to other competing applications for security and transaction time. While in the world there are no real competitors in the field of Windows Phone.
GreenAddress is the most convenient wallet with multi-signature, and has improved security and privacy. Private keys are not transferred to the server in any way. The user uses 2-factor authentication when logging in. Despite its existing security, users are not recommended to store large amounts.
The feature of multi-currency Mycelium purse is considered the most effective and fast procedure for exchanging multi-currency. This function is built-in by default in the application. Another nice moment is the integration of the application with Trezor – thus the turnover and flow of funds occurs without delay.
Despite its high security, experts still do not recommend using large sums for storage.
Hardware wallets for crypto currency storage
Hardware purse is not only a virtual store for bitcoins, but its contents can be felt physically in the hands, as the storage of funds occurs on the device in the form of a flash drive. This device is provided by all registered users for free. The hardware wallet is a kind of offline storehouse for securing crypto currency. The possibility of hacking is almost completely excluded as the purse does not connect to the Internet and fraudsters have the opportunity to get to private keys and other personal information. Almost all hardware wallets are equipped with screens. This is very convenient, because the display shows information when working with the service. Consider the main types of hardware wallets.
Ledger Nano S
The company Ledger Wallet registered in France is the headliner in sales among hardware purses. The company exists only 5 years, but during this period, developers quickly earned the respect of users. The main success of the company is the hardware purse Ledger Nano S. Ledger supports more than a dozen crypto-currencies. Therefore, the user can store different currencies on one device. Ledger is easy to use and understandable to the user. In the purse there are only two buttons and a small screen.
Thanks to the screen, you can verify the accuracy of sending funds. Advantages are high security and the need to introduce a pin code. The cost of a multi-currency purse is 58 euros. The device looks like an ordinary USB flash drive. To connect to a PC, you must use the USB cable that comes with the package. Also, the package includes: a tight envelope with two cards: an instruction and a data recovery sheet; accessories: neck strap, mount on the phone and a key ring. According to the instructions, to install Ledger Nano S, go to start.ledgerwallet.com and follow the instructions on the website.
Multi-currency Tresor purse, available in black or white colors. The connection is made by installing a “bridge” from the PC. Overall dimensions of the Tresor purse are 6 x 30 x 60 mm. The processor is made on a microcontroller Cortex-M3. Display-128 x 64 pixels; weight is 12 grams. The connection is made using micro USB. The cost of the wallet is $ 99, you can choose from devices of such colors: white, black and gray. Installing a wallet does not raise any questions, for this you need to go to mytrezor.com and follow the step-by-step instructions.
KeepKey looks good thanks to its elegant design. The wallet has a large screen where it is easy to read information about the account status and confirm transactions. Users with poor eyesight are very grateful for this detail.
Creators KeepKey decided not to repeat the usual and annoying interface TREZOR Web Wallet and for this they created a separate Chrome-extension. Chrome-extension allows you to receive and transfer BTC without any problems. After installation, the corresponding icon will appear, which will appear on the Internet browser of the Chrome browser. KeepKey costs 99 dollars. The package includes a purse, USB cable, a card for writing a secret phrase, a storage case for its storage, and a user’s manual. The KeepKey Wallet for Chrome browser can be installed by clicking on the keepkeywallet.com link, which will immediately be sent to the download page and installation.
How to ensure the security of a crypto-currency wallet
An overview of all the wallets showed that not one of them is not fully protected from hacking and theft of funds. According to the principles of use, cryptographic protection can be built into the payment system or be an additional mechanism that can be turned off. Specialists in the field of computer technology do not recommend storing the password “ID purse” in the memory of a computer connected to the Internet. The best is considered storage on paper or “cold storage”, that is, storage in the memory of a computer not connected to the Internet.
Therefore, the storage of control information in an active Internet connection is another risk for the bitlocker owner. This risk is also of a technological nature. The threat to the owner of the purse bitcoins is the actions of third parties.
Similar to the previous one, there is a risk of illegal transfer to third parties of information about the ID purse and password of the bitcoin owner by the purveyor’s service provider. Although she points out on her websites and in the contract that she is not interested in the password of the bitcoins owner, there are still serious doubts about this. And the unconditional legal risk is the risk of unilateral changes by the provider of services for placing an electronic purse of the terms of the contract and / or the introduction of paid services. Consider the following overview of all the major cryptotices and which one to ultimately choose a virtual wallet.
Methods of securing crypto currency
The survey showed that in the current conditions of management in the practice of making settlements between individuals and legal entities, non-cash payments are becoming more widespread. This is due to the convenience of their conduct, as well as the ability to transfer funds not only within the same country, but all over the world. Developers invest a lot in securing the use of electronic wallets. However, the user plays the decisive role in maintaining his electronic wallet. Continual improvement of protection mechanisms can not serve as a panacea if the owner of the electronic wallet does not adhere to elementary security rules.
What are the main measures to protect information security?
Use a strong password. To have access to the wallet had only its owner, there must be a complicated password. This will complicate the hacking with the use of special programs that are able to sort through many different passwords to enter the user’s electronic wallet.
Antivirus programs. In order to keep the crypto currency safe, it is necessary to update the anti-virus software, perform the necessary checks of all systems when such a need arises. Viruses are very often used for hacking wallets. That such fraud does not save the user of electronic money, anti-virus equipment must be from a reliable and trusted manufacturer.
Confidentiality of data. The password from the electronic wallet is never and never to tell anyone, even if someone is an employee of a bank or a payment system.
In connection with the rapid development of electronic money – the number of cybercrimes in this sphere is also growing. Users who use electronic wallets to make payments need to be careful to save their electronic money. Compliance with the above rules will significantly improve the level of security and will not allow an attacker to seize your electronic wallet.