Every digital asset investor craves the assurance of the safety of their portfolio. It is humane to want to keep your money safe, especially with the increase in cybercrimes and online theft.
As an investor in the UK, you don’t have to be afraid anymore as we will show you the best wallets in the UK where you can keep your digital assets safe.
There are numerous crypto wallets available to traders and investors in the UK, and we will be picking from these options after considering various factors such as their security measures, usability, the cost attached to them, and the coins they accept.
Knowing the Types of Wallets
As an investor in the crypto world, you have access to two basic wallet types, which are;
The Hardware Wallets
Just like the hardware components of computers, the hardware wallet is physical. It helps you protect your private keys (i.e., a string of numbers and letters).
While a hardware wallet happens to be safest and most secure because internet hackers cannot access it since it is not on the internet, it has its potential risks.
Some of the risks include the potentiality of losing it and it’s less accessible compared to software wallets (since you have to plug it into a computer.) It is very efficient in helping you back up your recovery keys and also for long-term storage.
Software Wallets
It is very effective for daily transactions. It is a type of wallet that allows you to store your assets on your computer. It is cheaper than hardware wallets and easily accessible. However, they are highly susceptible to internal hackers because they are remotely connected to the internet.
These two wallets have their unique features. If you are heavily invested in cryptocurrencies, the perfect rule of thumb is for you to have both hardware wallets and software wallets for your assets. The software wallets are perfect for small-time investors and traders.
So, now that we have explored the available options let’s take a look at the most secure wallets available for investors and traders in the United Kingdom.
Top Cryptocurrency Wallets In The UK
There are numerous crypto wallets available to investors in the UK. But in this piece, we will look at the top 5 wallets;
The Ledger Nano S Plus
If you are considering a “strong room” for your digital assets, the Ledger Nano S Plus is a go-to hardware crypto wallet you can use. It is one of the most popular hardware wallets on the market.
It can store over 5500 crypto assets. With the Ledger Nano S Plus, you are able to keep the private keys you need to access your cryptocurrency.
The selling features of the hardware wallet include its EAL 5+ certified Secure Element and the personalized PIN it requires for you to approve any transaction using the device.
To use the wallet for transactions, you connect it to your computer or mobile device, and it will use your private keys to approve transactions without revealing the keys to your device.
MetaMask
Metamask is an Ethereum wallet that also works with every EVM-compatible blockchain. The wallet can be used as a browser extension. You can also download the mobile app. Almost all the decentralized applications built on the Ethereum blockchain support Metamask.
With this wallet, you can send Ethereum and other Ethereum-based tokens in the UK. Beyond this, you can sell or swap various types of tokens on the blockchain. And it is helpful for an investor to monitor and track the performance of their assets.
The wallet will also be useful for those who are users of decentralized financial protocols and NFT marketplaces.
SwissMoney
Another safe and secure crypto wallet for anyone in the UK is SwissMoney. In less than four years of its launch, the wallet has enjoyed traction from users.
The wallet’s focus on the security and privacy of its users defines its uniqueness. For new users, Swiss money offers an easy-to-use interface that makes it easy to manage your assets.
It also explores advanced functionality for experienced users. The wallets accept popular cryptocurrencies such as Bitcoin, Ethereum, USDT, TRX cryptos, and USDC.
Beyond a storage wallet, Swiss money accepts the sales and swapping of cryptocurrencies.
Trust Wallet
Trust wallet is another popular and multipurpose crypto wallet. You can use it as a browser extension or an application.
The wallet supports a wide range of cryptocurrencies beyond EVM-compatible blockchains. Trust wallets support XRP, Bitcoin, Solana, and others.
With Trust Wallet, users can easily track their portfolio, manage their transaction history, and see the value of their assets in any traditional currency they want.
It is a perfect wallet for investors who hold different cryptocurrencies, as they can easily explore various decentralized applications on the wallet without exiting the app.
With Trust wallets, investors in the UK can store some of their NFT assets, such as ERC-721 and ERC-1155. It also supports the use of debit/credit cards for transactions through its integration of a third-party payment processor.
Zengo
Zengo is one of the most popular crypto wallets in the UK. It is a mobile Bitcoin wallet. In the six years since its launch, the wallet has gained the trust of over one million users based on its security track record.
Zengo supports more than 120 cryptocurrencies, including BTC, ETH, Polygon, Dogecoin, etc. Also, users can place their NFTs from multiple blockchains on the wallet.
Zengo is also a dApp marketplace. It allows users to connect and interact with Web3 dApps. Using the wallet mobile app, users can trade cryptocurrencies and NFTs. The Zengo wallet is in both free and paid versions.
With the paid version, users gain access to extra security, priority support, legacy transfer support, and a web3 firewall.
Conclusion
Finally, safeguarding your digital assets comes with a variety of options. One crucial factor that you need to consider when you choose a wallet is your need. If you are involved in day-to-day crypto transactions, you can use more software wallets.
However, if you are a huge investor with lots of cryptocurrencies you want to leave for a long period of time, hardware wallets will be right for you.
Disclaimer: Crypto information is educational, not financial advice. Investing in cryptocurrencies carries risks. Exercise caution and seek professional guidance when needed.
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