How to Choose a Personal Crypto Wallet

If you plan to buy, trade, or invest in cryptocurrency, you will need a reliable crypto wallet, where all financial operations are under your control and accountability. There are many characteristics to consider when choosing the right service that works for you.

To help you come to the final decision, we have narrowed down a list of qualities that we think your personal crypto wallet should have, starting with…

Security

First and foremost, you need to decide between a custodial and a non-custodial wallet. If you are a custodial wallet user, you are not required to keep your private key. Restoring access to your crypto is easy with the help of the wallet’s support team. Alternatively, if you have a non-custodial wallet, you are the one responsible for the security of your private keys and your crypto. If you lose your private key, you risk not being able to recover your funds.

Commissions

The commission rate is an important factor to consider. Do you think your wallet commissions are reasonable? Are they fixed? Blockchains have different transaction fees but you should remember that some expenses can be easily avoided with innovative solutions. For example, if you do not want to pay extra for sending BTC and some other cryptos, try using NC Wallet — the world’s first no-commission wallet.

Blockchain availability

Sometimes more does not mean better. Do you know that roughly 45% of all crypto operations in the world are performed with BTC? The rest of the top ten market-leading cryptos can cover more than 80% of your other transactions. This is why we recommend that you focus on wallets that support cryptos you really need rather than options with the widest variety of "exotic" assets.

Convenience

A convenient wallet will help you understand how crypto works even if you are a first-time user. Your personal crypto wallet should have such features as an intuitive and user-friendly interface, access to learning materials, easy how-tos, technical online support, etc. Additionally, it’s best if the service is globally accessible on any platform and device.

Roadmap

Before coming to the conclusion and starting your personal crypto wallet journey, you should ask yourself a few questions: Does this wallet prioritise future development? When was its last market update? Does it regularly come out with new features? Is this wallet user-oriented? For instance, NC Wallet understands the need to provide top-tier services in the ever-changing crypto world. In the last couple of months, NC Wallet has added QR code payments as well as the ability to view rates and balances in local fiat currencies, set withdrawal and exchange limits, and block unwanted IP addresses. The platform also constantly expands its list of supported networks and cryptocurrencies.