Nowadays there are different types of wallets for cryptocurrencies in the market so it is important that people take into account what are the characteristics that most favor them when choosing one of them to store their cryptocurrencies.
Giovanny Vargas, Co-Founder of Cripto Al Día, noted: “This is a cryptocurrency wallet, which is also known as a wallet. That’s where the different cryptocurrencies are stored. The first thing that users should know about these virtual wallets is that each cryptocurrency uses a different one, so before making a transaction you have to make sure that the cryptocurrency we send is directed to a wallet that can support it, otherwise the cryptocurrencies sent could be lost. “
Bitcoin has been a trend in the first months of 2018 thanks to its fluctuations and constant changes. Mexico was located, according to a ranking made by Local Bitcoin in the 15th place of the countries, in percentage, in which local currency exchanges for bitcoins grew the most (and vice versa) behind England and Russia.
Below, we list the five tips that every user should take into account when choosing a wallet or a wallet.
Type of investment
It is important that you take into account the type of investment that will be made since this will define which wallet to choose. For example, if what you want is to be a Holder (investors who do not sell their cryptocurrencies and store them) they can use a physical wallet or a virtual wallet from which they have immediate access “It is recommended for this type of investors to have a physical wallet to avoid hacks and that they can lose their cryptocurrencies,” Vargas said.
Moreover, for Traders (Investors who use exchanges to exchange cryptocurrencies) it is recommended that they use wallets that are used on exchange platforms. Finally, it is recommended for those who do investment and storage activities to have a physical and virtual wallet system for greater security.
Safety
Undoubtedly, it is important to choose a provider that provides the necessary guarantees to have a secure wallet. To do this, the most important point to keep in mind is to select a wallet on the web. If this is HTTPS, then it means that the information being transferred is encrypted. And that’s just what you should look for.
Transparency
It is always recommended that the wallet be open source, since in this way it ensures two advantages: knowing how the bitcoin is being secured and effectively checking if there are any vulnerabilities, according to the Cripto Al Día portal.
Back up
Fundamental. Not only for cryptocurrencies or finance, but this security measure applies to everything that happens in the digital world. It is not enough to have the data in the cloud, in addition, it is essential that there is a backup of that information on hardware such as a disk or pendrive. It is necessary to take all possible precautions to avoid tragedies.
Choosing a mobile wallet
With them you can access cryptocurrencies from a smartphone which is an advantage since they will always be on hand to make transactions through the scarcity of a QR code, without the need to copy long shipping addresses.
“Mobile wallets are a good alternative for shopping in stores and could soon be the substitute for credit cards or fiat money. There are wallets that only support the use of bitcoin (Electrum), but you can also find some that can support the use of hundreds of cryptocurrencies,” said the executive.
