Cryptocurrencies becoming more democratic and widespread, a lot of non-tech people face the challenge of choosing a good tool for managing their funds.
With hundreds of digital wallets available on the market, the task seems really hard.
To save you a lot of doubtful thinking and research, we have narrowed it to 5 basic features to focus on.
#1. Multiple coins support
Even if you plan to focus on one cryptocurrency, it makes sense to install a wallet that would support many coins. Many up-to-date financial tools are actually Swiss army knives allowing you to manage both crypto- and conventional currencies in one place. Check if their choice of currencies meets your needs.
The convenience of use and intuitive interface are equally important, as your digital wallet will be the center of your personal financial ecosystem, its control panel.
Check if you are basically comfortable with the app, both from aesthetic and practical point of view. The modern wallets (Exodus, BRD, Exscudo Channels) tend to be visually neat and minimalistic, but very handy and well-thought-out.
Check if you will have all the necessary info at hand, clearly displayed and manageable. Some wallets offer a customizable news feed that helps you always be aware of the latest market news and price changes.
#3 Currency exchange and other extra options
We recommend your wallet gives you the opportunity of exchanging cryptocurrencies between them, or converting crypto to EURO, USD and other ‘real’ money. Thus, the app becomes your own decentralized pocket-size bank, with all the necessary services available 24/7. If necessary, look for advanced features like the ability to buy cryptocurrency directly from your bank account/card (Exscudo Channels, Abra), or to invest in ICO (BRD).
#4 Additional functions
Some payment apps not only allow you to manage your finances, but offer other important services. A good example would be the Exscudo Channels app combining a new-gen payment tool with an end-to-end encryption messenger. It lets you make transactions and discuss them (or any other sensitive issues) in a 100% private manner, without leaving the app. There may be other tools integrated into the wallet – don’t forget to check if they are free.
The wallet may be an independent app or a heart a constantly developing ecosystem, seeking to anticipate and meet your everydays needs, like secure communication, paying for goods and services, safe data storage and transfer and more. Say, the Channels app is to be seamlessly connected to the Exscudo Charity Platform and other sevices, making it possible to earn and spend/donate money within the same user-centered infrastructure.
Hopefully, this short guide made things easier for you!