Looking into how to choose a crypto wallet can be a daunting task because there are a lot of good crypto wallets available. Your first choice when it comes to identifying the best wallet for crypto is deciding whether you want a hardware wallet for crypto or a software wallet.
Unlike a cryptocurrency hardware wallet, a software crypto wallet lets you choose a custodial option, called a hosted wallet. This means that you don’t have to set up your wallet on your own. However, you do give your information to a third party in order to use a custodial wallet and all of its features.
By contrast, a crypto hardware wallet, or a cold wallet, which looks like a thumbnail or a USB flash drive, allows you to store your crypto information on a device that can be disconnected from the internet. Cold storage wallets are good for anyone who wants an extra safeguard in place. Obviously, with a crypto cold wallet, you will need to be conscientious about where you keep your physical device. The best place for cold wallet crypto might be a in fire-resistant safe or a locked file cabinet.
