Are you interested in investing in the cryptocurrency trade market? Have you studied the ins and outs of the market and how to buy low and sell high? Do you know where to store the keys to your cryptocurrencies?
Even with just an iPhone, there is no need to limit your trading capabilities. You will be able to use your iPhone as a crypto wallet that stores your private keys before you decide to purchase higher-priced hardware wallets. Therefore, one of the must-knows when beginning to trade and invest in cryptocurrencies is how to open wallet on iPhone X, or any other mobile device running the iOS system.
Type of Wallet for iPhone X
The iPhone X runs on an iOS system that is specifically manufactured by Apple. You will need to open a digital wallet on your device so it can securely contain all your crypto assets.
Digital wallets are software that can be installed in your iPhone X. Most wallets are available in the App store. Be careful when choosing a wallet and make sure that you are downloading a legitimate crypto wallet.
As cryptocurrency trading is done online, most crypto exchanges also provide a feature that will allow you to store your cryptocurrencies. Although this is a good feature for beginners, it is not recommended because this wallet will be prone to online attacks from malware or viruses. It is best to purchase a separate digital wallet that is not on a crypto exchange.
Opening a Wallet on the iPhone X
Opening a crypto wallet on any mobile device is a straightforward process. Just like downloading your favorite apps from the App Store of Apple, you will easily find several cryptocurrency wallets available for download. Once you have chosen the best crypto wallet for your needs, you will be guided through how to open wallet on iPhone X by the app itself.
For such a straightforward process, what could go wrong? Well, we’re glad that you asked. Since cryptocurrencies have been increasing in value over the past decade, there has been a lot of malware and viruses that have been popping up. These types of malware specifically target cryptocurrency wallets. There is also malware that pose as crypto wallets to gain access to your cryptocurrencies.
But why does malware target crypto wallets? Cryptocurrency transactions are considered by a lot of traders and investors to be more secure due to the presence of a digital ledger that is public information. Chances of fraudulent transactions are lower than with fiat currencies. Therefore, targeting cryptocurrency wallets is a much easier solution for hackers to gain access to your crypto assets.
This is why you need to select a well-known and secure wallet. Even if this type of crypto wallet can be a bit more expensive, the security that you will get is well worth the price of the wallet. After all, if you plan on investing a large sum of money in cryptocurrencies, it is a sound decision to also invest in a secure and highly rated cryptocurrency wallet.
Best Wallets for iOS
With all the considerations that come into opening a wallet for your mobile device, here are some of the highly-rated wallets for any iOS device.
The Blockchain wallet claims to be the world’s most trusted crypto wallet. It is available for iOS users through the App Store. This wallet has a user-friendly interface, and it can hold several different cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, and more.
A great feature of this wallet is that you can exchange cryptocurrencies with each other. No need to exchange each crypto asset for a US Dollar first! With a Blockchain wallet, it can support exchanges of Bitcoin with Ethereum, Ethereum with Ripple, and so on.
Security is also topnotch in this wallet. All you need is to process your email verification and enable the two-factor authentication feature and you are good to go.
Blockstream Green Wallet
For users who love their Bitcoin, this is the wallet for you. This wallet uses dual private keys that doubles the protection for your Bitcoin. It also makes use of two-factor authentication to make sure that only you can access your assets. Another bright spot of this wallet is that it can integrate a hardware wallet from Ledger or Trezor.
What’s more, for iOS users, you can use Face ID to log in to your wallet. Just make sure that it is enabled in the settings first. With all these amazing security features and provisions for user control, it is no wonder that the Blockstream Green wallet remains a top choice for Bitcoin investors.
The ZenGo wallet holds a new type of secure technology that the company calls “secret shares.” The great thing about this wallet is that instead of the user having to store a private key to access all the crypto assets, ZenGo also stores a key on its server. All you will need to do is register your email and make sure that your Face ID on your iPhone X is working.
But wait, if the company holds a key to your assets, does that mean that it can also authorize transactions? Simply put, it cannot. Only the user can authorize transactions. The purpose of the ZenGo server holding another key is to make sure that your crypto assets remain protected even if you lose your mobile device or your key. This way, you can easily restore the crypto wallet on a different mobile device simply by using Face ID technology! Cool, right? Discover more about crypto wallets here!
Beginning to invest in the cryptocurrency market can lead to countless opportunities. Wise and seasoned traders apply strategies that will lead to profits at the end of each day, month, or year. Investing in a good quality and secure crypto wallet is a must when joining the trade.
If you have an iPhone X, then you are ready to keep your crypto assets secure. All you will need to do is learn how to open wallet on iPhone X, keep the passwords secure, and you can begin trading and investing in no time.