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What crypto software wallets can you recommend? Are you OK with holding your cryptos on exchanges?
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I will list three of the wallets that I am currently using.

I am using the Greymass wallet for my EOS.  It is a great wallet created by a good block producer team.  They are constantly updating it and making sure that it is running smoothly and securely.

I use Jaxx wallet for my LTC and I have been very happy with it.  I think it might be a little deprecated, but it still does the job of keeping my coins safe and I don't know what I would upgrade to if I were to move away from Jaxx.

I use Mycelium for my BTC holdings and I have also been very happy with that.  It is easy to use and it just works when I need it to.  I have never had any issues with it and I could be wrong, but I think it is open source so that is cool as well.

I am not a big fan of holding my assets on an exchange for a couple of reason.  

The first being security.  It seems like every day we are hearing that this exchange or that exchange was hacked and the hackers got away with an obscene amount of crypto currency.  If I am holding all of my crypto on an exchange, that means it is probably my money that they stole.

That just isn't cool to me.  It can be argued that those exchanges have better security than you would probably have on your home computer or some other software wallet you use, but they are also a bigger target because they have such a huge amount of coins in their coffers.

There is also the chance that one of the exchanges will go under.  We have seen that happen in the past as well.  If the main exchange that you are holding your crypto on decides to go out of business tomorrow, what are you going to be able to do to recover that?  It could be a really bad situation for you and you would potentially have not way of getting your assets back.

Many of these exchanges are in different countries where the country you live in may have no jurisdiction.  Plus there is such a gray area around cryptos these days that they authorities might not even want to mess with pursuing them.  Especially if you have no way of showing your  holdings are legitimate and taxable.

Finally, I think air drops are a good reason not to hold your assets on an exchange.  Sometimes you get lucky and an exchange will honor any airdrops that you are entitled to, but there is the chance that they will not.

I have yet to see an air drop that has been super lucrative, but you never know and do you really want to take the chance of missing out on the one that is because your coins or tokens were on an exchange that doesn't support it?  Better to keep things close to home and just do a really good job of making sure your keys and passphrases are backed up.

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4 Comments

What crypto software wallet is best for you is depending on what coins you currently hold.

I'm personally not okay with storing my cryptos on centralized exchanges. Centralized exchanges get hacked all the time and when your crypto coins are stolen there is no way to get them back as transactions on blockchain are irreversible. Decentralized exchanges (DEX) has their own problem, liquidity of assets within a DEX is much lower compared to the centralized counterpart. Even without exchange fees swapping coins on DEX is expensive due to the spread. However if it's just for holding DEXs is almost as good as a wallet.

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I hold small paltry amounts of crypto on exchanges. usually $50 worth. All the hacks have scared me. :) However, I think coinbase or binance are secure enough. But then I am no security expert. May want to watch andreas antonopolous for that. 

I prefer exodus for the software wallet. Comes with an in-built exchange and is a multi blockchain wallet. You have erc20, bitcoin, xrp, and eos. good enough for me. Other blockchains are anyway developing like cardano. and i have their own daedelus for that. And have no interest in tron or verge blockchians. 

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Different people have different perspective regarding where and how to store.

In my opinion, storing crypto currencies into hot wallets (ie. exchanges and online wallets) is not a safe idea , we all know it well . But what if u are a trader and you are a swing trader or day trader ???

Being honest, i would recommend "Blockchain" wallet + paper wallet. i m using it for the last 2 years and no issues at all . Blockchain is a very trusted company which provides wallets to store cryptos .

The main features are :

• High security features

• it also provides cold hardware device

• we can backup our cryptos even if we forget or loose password of account using backup phrase

• very easy to use as it has simple and clean UI

• import funds from paper wallet

• it has both desktop and mobile wallet support

if u have good amount of bitcoins then use offline paper wallet generator and use it and store your bitcoins into paper wallet.

paper wallet is the world's safest option to store and secure your bitcoins . make sure you keep it very safe .

From blockchain wallet , u can import your bitcoins simply scanning the private key stored QR code from paper wallet into blockchain wallet when it is neccessary or when u have to make transactions.

SO , I WOULD RECOMMEND YOU ALL TO USE BLOCKCHAIN WALLET + PAPER WALLET

but if you are a swing or day trader , then i would recommend binance exchange to store your alt coins, Binance exchange has high end security , it has high end security devices or systems that analyzes or detects all the unusual activities and suspends the execution immediately , so their security features makes it more advanced and secured.

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Storing your coins in an Exchange can be profitable if you plan to daytrade or trade a lot. Keeping your coins in a wallet is a lot safer, you can use an old smartphone as a hardware wallet ( but wipe it first just a crypto phone) or buy a hardware wallet. Print a paper wallet online for bitcoin and lots of other ones. 

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I personally use Coinomi for almost all of my coins.  They support a boatload of coins, the Android APK is available on their website in case they go belly up, and their support is pretty solid.

Only downside?  No Monero/Cryptonight forks.  But beyond that, it's worth inclusion.

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I vote for https://www.exodus.io/ multiwallet, very secure and extremely user friendly.

And nope, I am not OK leaving crypto in exchange, a lot of people use them as wallet, and if it wasn't enough, many know is not safe to do that but they are too lazy to transfer their funds to their wallets. Use in exchange only what you are going to trade.

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In trading Cryptocurrency, all you have to do is keep up with blockchain and cryptocurrency news because, by doing this, you will always be able to control your assets well.

When you follow the news, you will know the strength of each cryptocurrency itself. That way, you will potentially benefit from trading.

### The thing you must do in trading cryptocurrency

Here I just want to suggest some things that you must do in trading cryptocurrency.

Today, thousands of cryptocurrency have been born, with various kinds of projects being run. You can see the marketCap site that presents coin rankings based on trading volume. The greater the volume of the trade on each coin, the higher the rating for the coin will be.

Buy coins that have a reputation with the highest rank. At a minimum, if you want to buy, buy coins as low as possible, namely in the position to 100-200. Because, in the habit of a coin with a ranking on that number already has a foundation in maintaining the project.

Never store your digital assets on an exchange if. It is not deep trading. Because we will not know the extent to which they can provide security for our assets. And we also will never know they will experience a disaster so that they will close the market suddenly.

Save your assets on a hardware wallet that has been tested for security. I don't want to recommend anything about the wallet that you want to save your assets. However, better, look at a wallet that has good repute. For software, it looks like Metamask is very good for ERC-20 based tokens. Recently, Huobi has also released a good android wallet. You can see it on the app store. while for hardware, Ledger Wallet is also very good so far. Mc Affe has also issued a hardware wallet. You can also see this.

Maybe this is just information that I can share. Hopefully you can develop it with information. Thank you for the question. Good luck

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I recommend BINANCE exchange platform for anyone who wants to hold a crypto in a wallet. It is the exchange platform I am currently using and I haven't experienced any form of hack or difficulty since I started using it. I think it is the best crypto wallet one can have.

It is advisable to hold a crypto in an exchange wallet pending the time the crypto pumps.

Saving your password somewhere private is also advisable.

You can monitor the price of your preferred coin as u wish awaiting a pump in the value.

So to me BINANCE is the best crypto wallet one should have.

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