As the world begins to evolve, so does the everyday wallet. For the Web3 and crypto world, there’s a wallet for that. Just like the saying “Well, there’s an app for that”, there are several different wallets you can have for your Cryptocurrencies and NFTs. Whether you use a 3rd party service or exchange, you have to create a wallet. Here are the options you can use.
Coinbase Wallet
Coinbase is an exchange you can sign up with to create your digital wallet. Just like signing up with a bank and opening an account, you will do the same with Coinbase. The application process is very simple. It will ask you a range of personal questions that are used to help secure your account. There is usually a 3-5 business day wait period as they validate the information you provide. Don’t fret. This is normal as they want to validate that you are a real person and not a robot. Once you have your account, you can trade freely using your debit or credit card to purchase crypto directly, just like you would a stock. You can also sync your bank account to their mobile app to do the same. If your bank account is synced, you can send any profits directly off Coinbase to your bank account. It should be available in your account within 2 business days if not instantly. One warning is that not all banks are created equal. Some banks will let you trade crypto, others will not.
Crypto.com
Crypto.com is very similar to Coinbase but with a few changes. Setting up an account/wallet is nearly identical to Coinbase except you also create a passcode to sign in. In Crypto.com, you can track all your favorite coin. When you open the mobile app, you will see how your favorite tokens are doing in that exact moment. Crypto.com’s mobile app is a little buggy sometimes which turns some users off. What is also handy with Crypto.com you can easily send crypto to your friends if they have it by simply scanning a QR code. You click the send button or receive button, have your friend scan the correct barcode on your phone and presto! You have sent your friend their favorite token. Another interesting aspect with Crypto.com is that they have a “Missions” available in their app for you to try. These missions are sometimes reflective around learning or doing a daily trade which earn you diamonds. You then exchange these diamonds for a mystery box on the app that rewards you with $CRO, the native token on the blockchain for Crypto.com. There is one last one that is an exchange worth mentioning.
MetaMask Wallet
MetaMask might be the most popular digital wallet. It allows you to store Crypto and NFTs all in one place. Which makes it simple to use. The setup process is just like Crypto.com and Coinbase so no changes there! One thing to take into account is that MetaMask can be used as a mobile app and on your desktop. If you go the desktop route, you will need to download the extension. That is just a fancy way of saying you need to install MetaMask on your computer. The one difference with MetaMask is that you cannot buy most tokens or coin directly. They have to be transferred to your account. The only tokens you can buy directly is Ethereum. Most users have this wallet for NFTs strictly and the other two for Cryptocurrencies. Now what about an off exchange or application for wallets?
Ledger
Ledger is perhaps the best tool on the market right now to safely store your Cryptocurrencies and NFTs alike. This works just like a USB drive and you plug it in either to your computer or use an adapter to plug into your phone. Once its connected, you can safely send any and all of your assets to the Ledger device for safe keeping. Again, this works just like a USB drive so its all “saved” to the ledger and cannot be touched! Our recommendation is to use one of these while you purchase crypto or NFTs. Send your favorite token or NFT to this device keep it locked up like it is in a vault. Afterall, it is your money, why wouldn’t you protect it?
Closing up the Wallet
Your wallet, whether its physical or digital, is yours and yours alone. These three exchanges and applications are some of the safest to use as well as easiest. Whichever you choose, is up to you but also be sure you are protecting your hard earned investments the best you can.
