The term Cryptocurrency is becoming the trending one in all digital platforms because of bitcoin and its benefits. Bitcoin is the first-ever crypto coin which made many people believe blockchain technology is real and not a myth. The concept of bitcoin might be new to some but this cryptocurrency has been on the market for more than a decade. The crypto community is promising that popular crypto coins like Ethereum, Litecoin, etc are easier for transactions, highly secure, and maintain high privacy. That’s why there is always a talk about crypto and it’s being a buzzword in the modern era.
Crypto assets can be traded with the help of cryptocurrency exchange and it is recognized as one of the finest revenue-generating business models among budding startups. Not only exchanges but launching a cryptocurrency wallet with ideal features also help the startups and entrepreneurs to gain a massive amount of profits. Because cryptocurrency wallet is the essential component in the exchange platform. Crypto wallet helps the user to store, receive, or transfer all sorts of popular crypto coins and tokens securely in a trouble-free manner. When it comes to crypto wallets, there are three types of storage such as the hot wallet, cold wallet, and warm wallet. Each crypto wallet storage type has different functions.
When it comes to a cryptocurrency wallet, two types of keys play an essential role such as private keys & public keys. These keys will let the user transfer crypto safely and securely. Some crypto users will not prefer trading platforms for storing bitcoins or altcoins because they might be vulnerable to thefts or anonymous hacks. Therefore, cryptocurrency wallets ensure maximum security to the user’s funds. That’s why user count is increasing in bitcoin wallets and many startups are showing interest in creating a crypto wallet for business.
As per the current crypto market, there are several cryptocurrency wallets with millions of active crypto users. But only a few are successful business models and popular among investors, traders, and crypto startups. In this article, let us look out the top 5 cryptocurrency wallets for kickstarting a flourishing cryptocurrency wallet business.
Best 5 Cryptocurrency Wallets that you need to know
If you are going to create a superfine cryptocurrency wallet application for your business, then you need to pick the right bitcoin wallet as your business model. Choosing the best wallet model is a kind of tedious task when it comes to business. Thus, you need to choose the best one that matches your business needs or ideas. To reduce your burden, I have done some groundwork and came up with the list of the top 5 cryptocurrency wallets that are booming in the crypto space. Here I shared the list of the finest crypto wallets that might help you to choose a business model for starting your crypto wallet business.
- Trust Wallet
- Coinbase Wallet
- Huobi Wallet
- Luno Wallet
Now, let us see about these cryptocurrency wallets in detail
1. Trust Wallet
Trust wallet is the most prominent and leading cryptocurrency wallet in the global crypto marketplace. Trust wallet was first developed by Viktor Radchenko but later this wallet was acquired by Binance exchange in 2018. So it is now the official cryptocurrency wallet for Binance. Trust wallet comes under the non-custodial crypto wallet type so users can have full control over their funds. This cryptocurrency wallet can easily handle more than 3000+ cryptocurrencies which attracted millions of crypto users from all parts of the world. Besides, most crypto investors, traders, and startups prefer this crypto wallet because of its high-end security and advanced features.
In Trust wallet, users can utilize two-factor authentication, google authentication, or email verification for transferring the crypto assets securely. This crypto wallet will let the users hold most of the coins in cold storage. Fees associated with the trust wallet are low and the user does not need to pay fees for swapping. Trust wallet introduced a new feature in their wallet which enables the user to buy crypto using their credit/debit card. Besides, the user can also buy crypto anywhere and transfer it to a trust wallet instantly by using the wallet address.
Trust wallet is completely a mobile-based cryptocurrency wallet. It is currently compatible with both Android and IOS mobile devices. Additionally, it has a staking option that helps the users to stake coins and earn rewards in the future.
Features of Trust wallet
- Buy/sell instantly by using the card
- Private & Secure
- Browser for Dapps
- Multi-crypto support
- It supports NFTs
- Advanced tracking charts
- Multiple language support
Users can get all these features in the trust wallet.
2. Metamask Wallet
Metamask is considered one of the best crypto wallets and gateways to blockchain applications. This wallet was first created by consenSys in 2016 which supports only Ethereum and Ethereum-based crypto tokens(ERC20 standard tokens only). This wallet allows the user to store, receive, and transfer ethereum and all ERC20 tokens securely. Metamask has a web browser extension that is supported in all major browsers like chrome, firefox, brave, and edge. By adding the extension, users can easily utilize the metamask wallet in their browser. Also, the metamask wallet application is supported in both android and ios mobile platforms.
Metamask wallet has a special feature named swap which lets the users swap ethereum and ethereum tokens directly from the desktop or mobile wallet. This crypto wallet is primarily designed and developed for accessing the Ethereum decentralized application ecosystem in a hassle-free manner. The metamask wallet creates a strong bridge between the ethereum dapps and web browser. Currently, the metamask wallet gained massive prominence and earned the best name by offering extraordinary features to global crypto users. This made many crypto startups launch a cryptocurrency wallet similar to metamask for generating a huge amount of profits.
Features of Metamask wallet
- Multi-currency support
- Two-factor verification
- Automated session logout
- Multi crypto payment gateways
- Multilingual support
- QR code scanner
3. Coinbase Wallet
Coinbase is the biggest and prominent crypto exchange platform since 2012 in the crypto industry which has its own cryptocurrency wallet for crypto users. It comes under the non-custodial crypto wallet type. The coinbase wallet mobile application generates a 12 character recovery phrase that can be accessed only by the specific user to receive or send crypto assets. This crypto wallet supports more than 500+ crypto assets such as bitcoin, ethereum, USDT, bitcoin cash, litecoin, Cardano, and other popular cryptos. Not only crypto coins but also supports non-fungible tokens like punks and other trending digital collectibles.
When it comes to security, Coinbase wallet has a high-end security mechanism that lets the user transfer and store any kind of crypto securely. This wallet provides keys for the user which are protected with a secure enclave, two-factor authentication, optional cloud backups, and biometric authentication. Like metamask, coinbase wallet is compatible with google chrome. So that users can store cryptos safely on the desktop by adding the coinbase wallet extension in google chrome. The attractive user interface and simplicity attracted many new crypto users to use the Coinbase wallet.
Features of Coinbase wallet
- Users can store non-fungible tokens
- No account required
- Biometric authentication
- Advanced UI/UX
- Push notifications
- Multi-crypto support
4. Huobi Wallet
Huobi is a well-established cryptocurrency exchange in the crypto sector that has millions of active crypto users globally. This exchange was first launched in 2013 and is officially headquartered in Hong Kong. This exchange was popular among the crypto traders and investors which made them develop a secure crypto wallet named ‘Huobi wallet’. It is a native crypto wallet of Huobi exchange which was first launched in September 2018. Huobi Wallet is regarded as a professional and secure cryptocurrency wallet that helps users to store, receive, or transfer a wide range of crypto assets safely in a risk-free manner. Such as DOT, bitcoin, ethereum, dash, ripple, litecoin, Tron, Atom, etc.
Huobi wallet also covers different decentralized finance protocols and decentralized applications on the Ethereum, binance smart chain, Tron, polygon network, and more. It is a non-custodial crypto wallet so users will have full control over their crypto assets which will be securely stored in the user’s device. To stay and run successfully in the crypto market, Huobi wallet is also compatible with both Android and IOS platforms.
Features of Huobi Wallet
- Assets guarantee
- Hot wallet type
- Crypto pinning
- 1000+ crypto assets support
- Comprehensive UI
5. Luno Wallet
Luno is one of the prominent crypto exchanges among traders and investors in the crypto marketplace. This exchange was first founded by a former Google engineer in 2013. Luno is currently supported in major countries like Singapore, the United Kingdom, South Africa, Nigeria, Malaysia, and more. Luno exchange also has its own cryptocurrency wallet — Luno wallet. It helps the user to receive crypto assets within a second. Luno wallet is a mobile wallet application that is supported in both Android and IOS. The major drawback of Luno wallet is limited cryptocurrency support. This crypto wallet supports only five major crypto coins such as bitcoin, ethereum, ripple, bitcoin cash, and litecoin. Currently, there are more than 8 million active users in the luno wallet and here users can earn free bitcoins by inviting friends or relatives.
Features of Luno wallet
- Hot wallet type
- Truly hybrid
- Multiple language support
- Two-factor authentication
- Luno savings
- Instant deposit/withdrawal
The above-mentioned mobile-based cryptocurrency wallets are prominent and trending in the blockchain industry for starting a crypto wallet business. Apart from these wallets, there are also other wallets in the market for business. Thus, analyze the market and pick up the best crypto wallet business model that matches your requirements. Presently, a crypto wallet is an emerging business model in the crypto space. Many startups and speculators already invested in crypto wallet development and made hefty profits. If you are a person planning to create a crypto wallet and become a successful one like the above-mentioned wallets, then you need to hire a team of skilled developers from a genuine cryptocurrency wallet development company in the blockchain sector. They will assist you in crafting and launching a secure crypto wallet as per your business needs.