Keeping cryptocurrencies safe after acquiring them is one of the most important parts of dealing with digital money. It is not something that you can just store in your pocket, which means that crypto users need to find another place to keep the coins safe. This is why crypto wallets were made.
Which is the best wallet for TRX?
If you are a TRON (TRX) enthusiast, or you are at least becoming one, you need to know how to best store your TRX coins in order to keep them safe. This is where wallets come in, and they all have their advantages and disadvantages, which is why it is important to know all the details connected to a specific wallet so that you can make the right choice.
Some would argue that you can always let your coins sit in the hot wallets offered by exchanges. However, this is as far from a perfect solution as you can get, considering that the exchanges can shut down, be hacked, or even block your account. The best solution would be for you to employ a cold, or semi-cold wallet.
To help you decide which wallet to go for, we have prepared a list of top 5 wallets that will accept your TRX coins, and keep them safe. Let’s begin.
MyEtherWallet is a very well-known crypto wallet and one of the most commonly used ones as well. It allows users to completely avoid involving a third party by letting them secure their private key on their own computer. Users can access it via browser, or through various software developed to work with wallets.
MEW wallet is an open-source wallet that also comes with an exchange service that is already built into it. However, despite all of this, some of its users have reported that they have received phishing attacks. This ultimately leaves more than enough room for a security concern. Still, other than that, this is a great wallet for storing your tokens.
2. Ledger Nano S
Ledger Nano S is a hardware wallet, which is seen as one of the safest ways to store your cryptos. It is user-friendly and is as secure as a wallet can get. Not only that, but it accepts a very large number of cryptos, which means that your crypto of choice will probably be accepted. This, of course, includes TRON as well.
Another good thing about Ledger Nano S is that it is compatible with the previously mentioned MEW. All that it takes is to connect the ledger to a computer and exchange the tokens between the two wallets. This means that you can always store the majority of your coins on Ledger Nano, and keep those that you really need on MEW.
3. Trezor Wallet
Just like Ledger Nano S, Trezor is also a hardware wallet, and it works in the same way. This significantly reduces the differences between the two wallets and makes it hard to determine which one is better to use. Their cost is also pretty much the same, and you can find them for around €100. The biggest issue with this kind of wallets is that you need to pay to get them, but a small investment like this is definitely worthy of the top security for your TRX, or other coins.
4. Eidoo Wallet
Users who prefer to use their smartphones instead of computers are covered as well, and Eidoo Wallet is one of the best ways to go in this category. It can be used on both, iOS and Android devices, and it accepts various currencies. When it comes to the wallet’s private keys, they are completely encrypted, and will only be held on the user’s phone. This puts the user in complete control of the keys, which is a major advantage.
Eidoo Wallet is all about convenience, and even the transactions can be easily done from the smartphone. It is also user-friendly, with a clear and simple interface, which makes it easy to understand and use even for novices. The desktop version of the wallet has yet to come out, but the developers claim that they are working on it. The only issue with this wallet is security, which is a problem since phones are mostly easy to hack, especially if you use public networks to manage your coins and transactions on the go.
Finally, there is MetaMask, an online wallet based on Ethereum, which can be accessed via a browser. It comes as a simple extension, and it can be added to Mozilla Firefox, Opera, or Google Chrome. Its greatest strength is its convenience since it doesn’t require any extra software or hardware. A simple extension is all that is needed to access the wallet, but it still manages to have a tight grip on security. Your private key will be safely encrypted, but just as any other wallet, it is still not totally safe, which makes it good for storing small amounts of coins, but not all that you own.
In the end, hardware wallets are definitely the best when it comes to security, but they will require an initial investment. The online wallets are slightly more convenient, but they lack when it comes to safety. Phone wallets allow you to access your coins at any time, but phones can be hacked, which is, once again, a large security concern.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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