Top 3 Mobile Wallets

Among the four general types of wallets, the mobile wallet is the least secure of them. Mobile wallets support the storage of coins on both the Android and IOS operating systems. Private keys on these mobile wallets are stored on the device. Although, there are certain mobile wallets that can be considered. This article will try to discuss them. They include:

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Mycelium Mobile Wallet

In 2014, Blockchain.info awarded this wallet with the "Best Mobile Wallet/Application" prize. This award came as a result of the wallet's continuous job on the Andriod and IOS operating systems. This wallet comes with multiple exciting features and it allows you run numerous accounts on the platform. One of those accounts includes the one that allows you to delete private keys from your personal device and get them back when needed. This single account address means that users can save large sums without fear of hack.

Mycelium is a Hierarchical Deterministic wallet. It uses master seeds that help users to get future cryptocurrency addresses step by step. To ensure maximum security, these mobile wallets integrates with Nano S Ledger and also Trezor (both are hardware wallets). Mycelium was designed to come with a Billboard. This Billboard allows users to not only link but also set up transactions with other willing buyers and sellers. With the aid of Bitcoin keys, this mobile wallet supports an end to end protected private chats on the platform.

CoinBase Mobile Wallet

CoinBase wallet works on both the Android and IOS operating systems. It can be used to buy, convert and receive cryptocurrencies like Bitcoin, Ethereum, and Litecoin. It allows you to shop at numerous online shops and merchants that accept Bitcoin, Ether, and LTC as a form of payment. The wallet has about 39,000 online shops and merchants that accept cryptocurrencies as a form of payment. Some of these online merchants include: Dell, Expedia, and Overstock.

CoinBase wallet supports the linking of your wallet to PayPal in order for you to buy and sell the cryptocurrency. For security purposes, the wallet makes use of vaults that are designed with multiple-signature technology and other added private key storage mechanisms. Users can encrypt the application to ensure that it is protected in the event of loss or damage of phone.

CoinBase wallet can be used on web, Windows and Linux devices.

Jaxx Mobile Wallet

This wonderful mobile wallet supports the storage of coins on Android and IOS devices. It supports the storage of numerous cryptocurrencies and it is one of the very few wallets that offers more cryptocurrency options. This wallet adopts the Shapeshift technology that allows users to not only store but also receive, transfer and trade numerous cryptocurrencies. With this mobile wallet, you can scan quick response codes, check your crypto balance and also receive coins.

During the set up of this app, users are shown a randomly generated 12-word seed. This seed will be used to restore the application and coin balance if the phone is stolen or damaged.

Conclusion

Experts have advised that while using these wallets, you have to back it up. This can be done using the 12 to 24-word seed that will be displayed to you at the time of set up. These are the best three mobile wallets out there.