If you own cryptos, you need to have a crypto wallet to keep your cryptos safe. There’s two reasons why you want to do this: in one sense, it’s just like having money in a regular bank- if you have your money in a wallet you possess, it will be immediately available to use. The other reason goes in line with one of the golden rules of wealth preservation: if you don’t hold it, you don’t own it. Keeping your money on a crypto exchange (where you would purchase cryptos) exposes you to the risk that the exchange can either have their exchange wallets hacked, or if there is a technical issue, you won’t be able to withdraw your cryptos, putting you at the mercy of the exchange to fix the issue.
To this end, there are many good options available for digital wallets you can choose from, with more new ones coming to the market.
The easiest wallet to use is the “hot” wallet, which is just a wallet that would be downloaded to your computer or smart phone.
Here is a list of good wallets to use:
Smart Phone Wallets
In development, not yet on the market
In beta stage of development, not yet on the market. Here is a link to the road map