The primary purpose of a wallet is to help you keep your money safe. It comes in different styles, sizes, and features. But did you know that there is this so-called digital wallet or crypto wallet? This is not your typical type of wallet because this holds cryptocurrency or money that you cannot touch. And if you are wondering how many cryptocurrency wallets exist, this article is for you! After reading this, you’ll be able to learn them all.
Guide to Using Cryptocurrency Wallet
Cryptocurrency wallet has features that we can only see in it. Others think that this is safer compared to the wallet that we bring every day.
This can be either soft or hard. We call the crypto wallet soft when it is saved in your device, while a hardware wallet refers to a wallet where you can store your assets in a hard drive or flash drive.
Between these two, many people prefer the hard wallet because it cannot be hacked. To further educate you with this, we made a guide below on how you can start using a cryptocurrency wallet.
- Choose from the available crypto wallet being sold. These are safer and easier to use. If you decide to make your own, it will take time. Plus, you have to load yourself with patience and apply your best effort to make one.
- Activate the Software in Your Computer. Plug in your hard crypto wallet and run the software on your device. Do not leave any of the steps or instructions shown on your screen. In short, be diligent in following the instructions. You might be a little excited and run out of patience, so keep your cool for it might take a while. When installed, you will see an option on your screen whether you want to import a wallet or make a new one. Now, if you are more interested in using a soft wallet, download the software on your laptop, mobile, or computer. Then install it.
- Remember the PIN Code that you will set. As part of the installation process, you will be required to set a PIN code. So remember it or better write it on a notebook, or add it on your reminders. You may also set a recovery phrase so if you happen to forget the PIN code that you have set, you have a plan B.
- Install the Ledger App. This time you will be needing help from a good ledger app. You can search online, but your best options are Ledger Nano S, Ledger Live, and Ledger Nano X. You might think this isn’t necessary, but it is. This will help you make easier transactions and help you monitor them.
- Testing. For you to know if it’s working well, you have to test it. This will require you to ask for help from someone close to you. See if your wallet is able to receive money from a friend who sent it to you. Or vice versa – ask your friend if he received the digital money you sent. If both of you received a notification, then your installation is successful!
- Make use of it. After knowing that it’s working well, it is time for you to take action by using it. When it is loaded, you can start trading. It is up to you if you want to keep your digital money in your wallet and wait for a higher demand or invest your assets in a platform.
The Current Number of Active Wallets
So how many cryptocurrency wallets exist? You might think that since cryptocurrency is new, only a few people know it and are using it. Perhaps, you might also think that businessmen and those who can afford are the only ones interested in it. If we tell you about the current number of active wallets, you will be surprised. This is because we are not talking about thousands but millions. To be specific there are sixty-eight million fifteen thousand active wallets in the world of cryptocurrency. Imagine that? This just proves that it will continue to rise because of its growing popularity.
The Most-Used Wallets
You must be shocked knowing how many cryptocurrency wallets exist. Who would have thought that from a single person, it grew so fast that some people prefer this? Be it hardware wallet or soft wallet, they are becoming more popular than before. But here’s the fact, there are also different wallets to choose from. Listed below are the most used wallets:
- Trezor – This is a hardware wallet and considered as one of the most secure. This is the reason why many choose to secure their assets here. And if you are curious why, that’s all thanks to blockchain technology. With this wallet, you can store your assets offline. Just plug it in the USB port of your computer and you can monitor, transact, and make deals.
- Ledger – There are different models for this. Like Trezor, it is safer because all your assets will be stored in a hardware wallet. Meaning to say, hackers will have a hard time accessing it.
- Exodus – If you are not into hardware wallets, you can always choose a soft wallet. Exodus is a good option because it is considered one of the most trusted and popular soft wallets for desktops. But of course, you need a secure connection when using this. Find out more about cryptocurrency wallets here!
Not all wallets are the same. Some come with different features and are unique in their own ways. One best example is the cryptocurrency wallet. This type of wallet differs from the wallet we know because it doesn’t keep physical money but virtual currency. And in this article, you just learned how many cryptocurrency wallets exist. So if the time comes that you have decided to try your luck in investing with cryptocurrencies, you know your options!