Where can you store your crypto?
A problem many newcomers to cryptocurrencies walk into. Where am I going to keep my crypto? Well, the answer is quite simple. Because you only have 2 choices of storing your crypto. That is either with a central entity like a crypto exchange or bank, or you can keep the crypto in your own wallet. Both options have their different pros and cons. But ultimately it depends on the following factors –
Keeping your crypto with an exchange/bank :
- You can enjoy the userfriendly interface of the exchange/bank
- Often has customer support when you get stuck
- Sometimes offers some insurance over your funds.
- No direct control over your funds
- You can not freely interact with on-chain Dapps
- You can not spend your crypto freely because of the limited withdrawal or payment features
Keeping your crypto on your own wallet:
- You can interact with any type of Dapp freely
- You are in 100% control of your funds
- Pay to anyone at any time wherever you want
- More technical interface
- You are the only one in control (so make a backup)
After you have decided where you want to store your crypto you have too of course buy some first. So you will always have to go through some kind of exchange at the beginning. You could use the user-friendly Bitdenex exchange for example to start your crypto journey. Now that you bought some Bitcoin, Ethereum, or any other crypto on Bitdenex and want to send it to your own wallet. It is time to pick a wallet that’s right for you.
Finding the right wallet with Yada Wallets
The cryptocurrency wallet filtering website, Yada Wallets offers a series of wallet filters that can help you find the best wallet in no time. It does this with a series of specific filters. So that you can use these to find all the wallets with the features you want. But on top of that, you can leave/read reviews on these wallets to help you with your decision.
These filters can help you enormously. Because maybe you are searching for an Ethereum wallet that lets you connect to Dapps. So you can start using Defi. But after a quick google search, you find a list of the top 10 wallets for Ethereum. With most of them being Bitcoin-only wallets.
This is not what you want but a reality for most of us. The fact simply is that it is difficult to find a wallet that supports all the features and blockchains you want. This especially goes for lesser-known blockchains.
Finding your crypto wallet
Because of this problem, many of us just stop searching and keep our coins on an exchange. To combat this problem the guys from Yada Wallets came up with a simple solution. They created a crypto wallet search engine that lets users filter between different blockchains, custodial & non-custodial, and much more.
With this new tool, it is super easy to find is good for you.
When you go to the website you can just follow these simple steps to find the wallet that is good for you
Choose what kind of blockchains you want to have supported on your new wallet. There are many different blockchains but you can just type yours in the blockchain search box to let it come to the top.
After having chosen the Blockchain(s) we will now decide if we want to store the Private Key on our chosen device or if we rather have the company that provides the wallet store it for us.
Now it’s time to choose if we want to have a supported SideChain integrated with the wallet. Sidechains are usually meant to make the transactions of certain blockchains faster and cheaper. But it is not necessary to use.
Now it’s time to choose if you would like a certain token protocol supported within the website. The majority of all tokens are ERC-20 tokens. But if you want to use a specific token within a wallet it is best to do a quick internet search to find out what protocol your token follows.
For the last filter, we can choose if we want any extras in our new crypto wallet. These extras are few but very specific. You can choose between “Crypto trading (to find exchanges like Bitdenex), Web3, Hardware wallet support” and much more.
Just follow these easy 6 steps and you will have the perfect wallet for you in no time!
We believe that to get crypto to the masses it is key to get as much adoption of both exchanges and wallets as possible. The Yada Wallets search tool helps with this and can help new and old crypto users to find the right place to store their crypto.
We hope this blog helps you in your search for the best place to store your crypto and that you may enjoy using it!