Becoming a professional cryptocurrency investor is not that complicated. However, you should learn some basics of the sphere to avoid embarrassing mistakes and fortune losses. Today, we will concern an issue of a proper wallet choice. Though crypto is not a real currency, it can disappear. Picking adequate storage is the first step to your successful experience. We will help you to grasp along with the crypto wallet application called Trustee Wallet.
- What Crypto Wallet App Should I Choose?
- Why Storing Money in Crypto Wallet from Trustee Wallet Company Is Easy?
- Some Things to follow while transferring crypto to a wallet
What Crypto Wallet App Should I Choose?
There are four known ways to organize your coin storage:
- Online services are straightforward but not very secure. You entrust your currency to an unfamiliar service. However, this minus is partially degraded by simplicity and comfort. Online services are divided into hybrid and traditional ones. The first kind implies separate key storage and multi-signature use. The second way means the only reserve copy of the keys is available for a client. The main reason to create a crypto wallet in a hybrid online service – the developers do not get full access to user’s money. However, one should remember about hackers using fishing pages or fake identities.
- Another way to get a crypto wallet is to register at a crypto stock. Among its top advantages, there is an opportunity for fast access to your money. The transfer speed within the stock is high. However, even the best stores have problems with security. Every significant stock exchange has suffered a hacker attack. The stock can go offline eventually, and a client will lose access to money for that moment.
- When we talk about security, the best crypto wallet is a hardware-controlled kind. It is a separate USB storage. It can be hacked as well, but only with physical access to a gadget. Even the best security has its minuses: you can lose or break the storage.
- Finally, the fourth way to use a wallet is called local. It is a desktop, mobile application, or browser extension. The mobile app will do good for those who need constant access to their currencies. Even if you lose your gadget, you can restore your wallet with ease. A crypto wallet app is universal. It can store as many currencies as you need. At the same time, the desktop software must deal only with the Proof of Stake algorithm.
Let’s consider some advantages of a mobile app, taking the Trustee Wallet app as an example.
Why Storing Money in Crypto Wallet from Trustee Wallet Company Is Easy?
Becoming an application user is as simple as a pie. Here are some features:
- The cross-platform apps are available both for Android and iOS users.
- Fast and secure registration lets you stay anonymous. The app enables you not to attach personal data to transactions.
- The set of instruments within an application lets you review the best transfer options, choose good transactions, and get the latest news of the cryptocurrency world.
- The application is free to install both on your Android or iPhone.
- Unique technologies create fast transactions without delays.
- Another cool feature is the open code. It ensures trustworthiness and lowers hack risks.
So the best way to transfer your crypto to a wallet and make it work for you is to register at Trustee Wallet. Download the app and get the new experience of the professional crypto investor.
Some Things to follow while transferring crypto to a wallet
When sending a cryptocurrency, you can lose some of the capital on exchange rate fluctuations. This can be avoided by transferring funds to staples such as USDT, BUSD, USDC, and others. Their price is pegged to the dollar and cannot suddenly fall by 15-20%, as is the case with many digital assets.
Check the commissions
You can incur a small cost on the commissions. Exchanges charge them for withdrawals. However, each coin usually has its rate for withdrawal, which allows saving money. For example, a BTC or ETH withdrawal typically costs $3-5, while the cost of translating XRP and TRX tokens is a few cents.
In 2020, Defi platforms became very popular. Operations are carried out through smart contracts: the user buys coins from his local wallet, and the same transaction can send them to the exchange.
Not all exchanges support smart contracts
Typically, the platform indicates a warning next to the user’s wallet address. If ignored, the funds will reach the exchange but will not be credited to the trader’s balance. Often this issue is solved with the help of technical support.
Start with a small amount
The first translation, especially when it comes to unfamiliar services, is better for a small amount. This will help you avoid losing funds if it turns out that the platform belongs to scammers or your wallet does not work on it. There is also a risk that the transaction will freeze when the coins are withdrawn due to network overload. The delay may be several hours, during which time the funds will be frozen. Accordingly, you can lose on the fall in the value of the sent asset.