Crypto trading has taken the back seat in the digital economy in 2022, with the market remaining under the bears' control for most of the year. Furthermore, traders have seen their faith rocked by the consecutive failures of centralized exchanges. These intermediary marketplaces have been the powerhouse of the industry since its humble beginnings. Now, they seem to crumble under mounting allegations of scams, lawsuits, and solvency concerns. Meanwhile, they make a convincing case for the imminent decentralization of crypto…
In 2022, crypto trading will continue to become more mainstream. However, there is often a lot of confusion around the “best” mobile wallet to safely store your currency. The truth is that the available range of mobile wallets can come across as overwhelming to users.
A crypto wallet works just like a physical wallet in a modern sense. But instead of paper-based currency, it holds digital cash with proof of security. It is vital to understand that a crypto wallet can be an online site, an app, a program, or a service on a crypto exchange platform.
How Mobile Wallets are Different
Mobile wallets are ultimately apps that users run on their mobile devices to store and manage crypto funds. In 2022, mobile wallets for Android and iOS have become the ideal mode of payments in the form of QR codes.
Like desktop-based wallets or hardware wallets, users have to backup data on their mobile devices to maintain digital funds from theft or damage. However, mobile wallets are safer to use than traditional desktop wallets. Mobile wallets come with extra security layers like four-digit number PINs and fingerprint identification.
In all seriousness, unlocking a mobile wallet makes it easier to spend or trade cryptocurrency. In addition, a mobile crypto wallet is perfect for storing purchased Bitcoin or other types of cryptocurrencies. Not to mention, authorizing transactions through mobile wallets is incredibly convenient.
Focus on the Best Mobile Wallets to Store Your Crypto
Now, to help you make the right call, here are the best of the best mobile wallets to store crypto safely and securely in 2022:
Trust Wallet is an excellent mobile wallet that can support 160 digital assets. Trust Wallet makes it easier for users to access dApps or decentralized applications on the leading Ethereum platform. The initial intend of Trust Wallet was to support ERC-223 and ERC-20 tokens.
Currently, Trust Wallet is capable of holding tokens on different blockchains. In addition, trust Wallet has a partnership with decentralized exchange network Kyber that allows users to purchase coins straight from the mobile wallet. However, once you take a closer look at the attractive UI and built-in security features, you’d realize why Trust Wallet has become highly famous as a mobile wallet.
One of the hallmark aspects of Trust Wallet is its incredible staking mechanism that supports various assets. It means users can earn consistent passive income on specific crypto when it is stored in their Trust Wallet. Users can stake coins such as Kava, Cosmos, and Binance Coin to earn added interest. The Trust Wallet app allows users to exchange various cryptocurrencies with advanced security. As an open-source wallet project, Trust Wallet even supports NFTs.
Klever or KLV is a dedicated ecosystem that works as a crypto wallet and has a user base of up to 2 million worldwide. When it comes to mobile wallets, the Klever Wallet app is as straightforward and flexible as it gets.
Klever wallet app comes with self-custody protection and supports quintessential blockchains. In addition, the Klever app supports more than 300 trading pairs and provides direct access to TRX and ETH apps through Klever Browser.
One of the best attributes of Klever Wallet is that it is a P2P and decentralized network wallet that gives possession of private keys to the users. Therefore, it makes the entire Klever ecosystem more secure and ensures reduced Swap fees.
Like Trust Wallet, Klever staking makes it possible to earn a passive income. On top of security and staking, Klever wallet is highly compatible with significant blockchains like Ripple, Ethereum, Bitcoin, Litecoin, Binance, TRON, ERC-20 tokens, etc.
When it comes to the software-based wallet market, Atomic Wallet makes up one of the solid choices. The decentralized mobile wallet is available for macOS, Linux, and Windows. What’s more, Atomic Wallet uses old-school BitTorrent technology to ensure its independent functionalities and provide a great experience to users without any cost.
With Atomic Wallet, you can use your bank cards to buy a specific cryptocurrency within the wallet. In addition, atomic Wallet also allows users to swap various cryptocurrencies within the app. In total, Atomic Wallet supports more than 500 cryptocurrencies.
Atomic Wallet is a secure, free, compatible, and flexible mobile wallet ideal for beginners. It is no wonder the mobile wallet continues to gain more popularity in the crypto space. Users tend to gravitate towards the simple interface that makes it easier to navigate Atomic Wallet. In addition, the Atomic Wallet ultimately offers private keys saved on each user’s smartphone with security encryption.
BitPay is a digital crypto wallet established more than a decade ago. It started as Copay and now operates as BitPay mobile wallet. It allows users complete access to send, store, or receive Bitcoin or Bitcoin Cash in the digital wallet.
On BitPay, transactions are processed on individual accounts. It means users can manage their accounts on several devices at once. On top of being an open-source digital wallet, BitPay has a clean and intuitive user interface for the mobile app and desktop.
And contrary to market misconception, BitPay is a highly secure wallet. Many users think of BitPay as a compatible and robust payment gateway. After all, BitPay comes with custom libraries, instant integrations, and eCommerce solutions.
You can check the prices of over 150 different currencies from BitPay. The digital wallet supports several languages and even integrates specific hardware wallets. When it comes to coins, BitPay supports BCH and BTC.
On the bright side, payments within BitPay are available for more than 40 merchants such as Shopify, Microsoft, Foxycart, Cydec, 3DCart, etc. BitPay charges custom fees for automatic and instant Bitcoin exchanges. But the exchange rate boils down to the volume of traded crypto.
Edge is the direct competitor of Mycelium and provides a beautiful user interface with an impressive list of features. For example, edge Wallet offers automated backups and touch-based log-in for users. In addition, you can use your iPhone to store various wallets in just one account.
The set-up of the Edge Wallet is also not so different from setting up a traditional savings or checking account. Edge may not have a long history or extensive market presence, but it builds a loyal user base. As a result, edge Wallet is a perfect wallet for beginner crypto users.
In hindsight, it is a lightweight digital wallet paired with impressive security features. Edge Wallet also allows users to earn crypto interests straight from the wallet. As a decentralized mobile wallet, Edge Wallet offers complete privacy and financial autonomy to its users. From usability to compatibility, Edge offers added features that make the digital wallet incredibly easy to use and secure.
Since cryptocurrencies can be highly volatile, make sure not to buy or trade more than you can lose. Nonetheless, the best way to secure your cryptocurrency funds is to leverage the security of a mobile wallet. Users deserve a dedicated crypto wallet to store and manage their funds without security concerns in the digital age. In terms of consideration, opt for a well-designed and robust mobile wallet that offers an intuitive, secure, and straightforward user experience.