Every well-seasoned crypto owner has a safe wallet to host the keys to their digital assets. The number of wallets available on the market is vast. Yet, not all of them are secure enough or convenient in use.
Most traders that swap ETH to ADA regularly prefer custodial wallets. Such software is usually offered by a centralized cryptocurrency exchange for ease of trading. Let’s review the five most reliable wallets to keep your crypto safe.
Coinbase
This is a self-custody wallet that grants users of the Coinbase exchange platform complete control over their crypto. It offers to store thousands of tokens and Ethereum and Polygon NFTs. Besides, the wallet has a web3 dApp browser, providing the developers with advanced opportunities to create their applications within the Coinbase ecosystem.
Coinbase wallet supports iOS and Android mobile platforms. It also can be installed as a Chrome extension to the desktop computer. Coinbase offers industry-leading security. Your funds are protected with biometric authentication. Cloud backups are optional and recommended from time to time.
Gemini
Gemini is a custodian wallet regulated by an eponymous crypto exchange. It offers two options: a cold storage system and a hot wallet. The latter is a web-based option that allows hosting cryptos purchased via Gemini Exchange or sent from other wallets.
Gemini’s secure wallet infrastructure leaves no room for fraud. The company offers insurance against some types of losses. Gemini claims to have industry-leading engineering practices in place. The wallet is updated on a regular basis.
Binance
Binance Chain Wallet is the official storage option by the world-famous exchange platform. It’s an extension-based wallet, meaning that it’s available as an add-on to Google Chrome, Firefox, or Brave. Yet, there is an option called “Trust Wallet” that is available on both Android and iOS and has similar functionality to Binance Chain Wallet.
In terms of security, Binance wallets have a fairly good reputation overall. The company also pays off the losses in full to all the affected users if any cases of crypto hacking took place. The wallet is extremely convenient for those who utilize the Binance platform often.
CEX
CEX is a multi-currency wallet with separate versions for iOS and Android. It is popular among crypto enthusiasts. Basically, it offers to trade and store crypto within a single app, which is exceptionally convenient.
CEX wallet has two-factor authentication, multiple confirmations for operations, and keeps 98% of the assets in a cold storage. As extra benefits, the company has an impressive reputation and a Money Services Business status in FinCEN.
Changenow.io
Changenow is a fast non-custodial crypto exchange with over one million users. Its NOW wallet allows for staking and trading cryptos and supports seven blockchains. You can make crypto-fiat and crypto-crypto transactions. The wallet can be connected to any dApp running on Ethereum, AVAX, BSC, and Polygon. Your funds are kept on your device as NOW is non-custodial. You can download its Android/iOS versions or Android apk.
Final Take
Regardless of whether you are a crypto enthusiast or an experienced trader, you need some crypto storage option to keep keys to your digital assets safe. The mentioned exchange platforms offer decent wallets for experienced traders and beginners. Swap LTC to BTC, ETH to ADA, or any other crypto pair of your choosing.
We can recommend Coinbase and Gemini as the most reliable wallets with a distinct application or extension available. At the same time, CEX is the most intuitive option for beginners since it has a built-in wallet.
