Online
| Wallet | Supported Coins | Rating | ||
|---|---|---|---|---|
|
Jubiter |
|||
|
BitGo |
Bitcoin Cash, Ripple, Litecoin, Ethereum, BitCoin | ||
|
Coinbase Wallet |
Bitcoin Cash, Litecoin, Ethereum, BitCoin | ||
|
GreenAddress |
BitCoin | ||
|
Blockchain |
Ethereum, BitCoin | ||
|
My Ether Wallet |
Crypterium, Ethereum Classic, Ethereum |
What Are the Benefits of Online Cryptocurrency Wallet?
Free to sign up an online wallet
For individuals who are getting started with the digital currency, online wallets prove to be the best place to start. They are free to sign up which means you do not pay in order to have an online wallet. For hardware wallets, you have to buy the device which can be costly for someone who is getting started.
Instant sending and receiving of coins
You can link your online cryptocurrency wallet with exchanges and send your coins to start trading right away. Also, you can receive coins to your wallet in an instant from other holders of the digital currency through your online wallet.
Highly convenient
You do not have to carry the online wallet with you as it is cloud based, unlike the hardware wallet. This means that you can access it whenever you want as long as you are connected to the internet. It gives you the utmost convenience when you want to access your coins or transact online.
Added protection
The best online cryptocurrency wallet such as Coinbase will have added protection to secure your private keys online. It offers you to download, and turn on, 2-factor authentication which gives you the protection you need from hackers. Also, in some top online cryptocurrency wallets, you can add a few security layers to reinforce the security of your private keys.
What Are the Limitations of Online Cryptocurrency Wallet?
An online cryptocurrency wallet is a hot wallet, which means that it is connected to the internet. Since your private keys are stored online, hackers can access them. This is a major drawback if you plan to store your coins for long or you have stored multiple digital currencies in your online wallet.
To choose the best online cryptocurrency wallet, look for one which is popular, has added security, and it can manage multiple cryptocurrencies. Also, avoid storing your coins online, in bulk, for security purposes.