The choice of which cryptocurrency portfolio to use is probably one of the most important decisions for anyone interested in cryptocurrency. Like almost any other storage system, choosing a portfolio usually involves some form of compromise between security and ease of use.
At the top of the priority list when choosing a cryptocurrency portfolio is the security features on display. In recent times, virtual currencies have become the target of many cybercriminals. Many major cryptocurrency exchange platforms have suffered from hacks that have led to the theft of digital coins for billions of dollars.
The 2018 began with the high-profile Coincheck attack that saw the hackers take away over $ 500 million in NEM tokens. Only in June 2018, two South Korea-based platforms – Coinrail and Bithumb – suffered hacking attacks. In all these cases, the attackers were able to steal funds from the so-called "hot wallets" of the platform (online portfolios).
With this in mind, it is evident that any portfolio choice must be one that places a high premium on security. For this purpose factors such as two-factor authentication (2FA) and multiple signature (multi-sig protocol) are vital when choosing a portfolio choice.
2FA and multi-sig are additional security levels that offer enhanced protection to your precious cryptocurrency tokens stored in your wallet. 2FA uses a second security code in addition to the usual pin / password. Multi-sig allows the setting up of additional permissions by a trusted party before any transactions are approved in the portfolio.
Ease of Use
The optimized user interface and the ability to store multiple coins contribute significantly to the ease of use of a cryptocurrency portfolio. The perfect portfolio should have easy-to-use features with clearly labeled "buy" and "sell" tabs. Because transactions in virtual currency are immutable, the portfolio should not be the reason for an error in sending or receiving coins.
There are subtle differences between the needs of the portfolio of traders and long-term holders. While the former will appreciate features such as buying and selling e-mails, traders may prefer features like an integrated exchange and price information in real time.
Five of the best cryptocurrency portfolios of 2018
With these factors in mind, here are five of the best cryptocurrency portfolios of 2018.
NAGA WALLET is the best of the lot, boasts a 'user interface premium and features easy to use as the purchase of email / sending cryptocurrencies. NAGA WALLET is also a leader in multi-currency compatibility as it supports all major cryptocurrencies and over 1,200 tokens.
Both traders and long-term securities holders will find the NAGA WALLET full of correct user functionality. Some of these include instant transactions, real-time chip pricing information, an ICO hub, integrated exchange, etc.
Ledger Nano S
With the tremendous risk associated with many online portfolios, hardware portfolios are the favorites among many killing enthusiasts looking for secure storage options. The Ledger Nano S is probably the best hardware portfolio on the market.
It has an integrated display that eliminates the need for a computer. It also has multi-currency support, PIN code lock and backup / restore capability. One disadvantage of the Ledger Nano S is that it is a bit expensive.
Exodus has a rich user interface with an appealing design, but this portfolio is not all a show because it has useful features. Despite having a premium service, its free service has almost the same features as paid premiums.
Some of its key features include one-click exchange and multi-currency support. Although users create their own online portfolios, all relevant portfolio information is domiciled in the user's computer.
Jaxx transcends cryptocurrency storage as it can be used as a portfolio for any digital resource. It is one of the leading mobile-based wallets on the market, although Jaxx is still compatible with operating systems such as Windows and Linux.
Just like Exodus, all the details of the portfolio are domiciled in the local host device, away from hackers. Other useful features include its seamless portfolio creation process and storage versatility.
Electrum is one of the most reliable software cryptocurrency portfolios. Electrum is available on Android, Windows and Linux OS. It's fast and light with premium security features like 2FA and encrypted keys.
Two downsides of Electrum is that the user interface can be a little confusing for newbies and only stores Bitcoins.
What do you think about the factors that should be considered when choosing a cryptocurrency portfolio? Do you agree that NAGA WALLET is the best of the lot? Please let us know in the comments section below
Images courtesy of NAGA WALLET.