We’ve all been aware of the hype Cryptocurrency is making nowadays. It has become a global phenomenon to most people and based on its importance for the future, everyone has slowly begun investing. Cryptocurrency is a form of a digital, virtual currency that can be a medium of exchange electronically to control the creation of monetary units. Cryptocurrency itself has no value, like cannot be redeemable for any commodity. It has no physical form and the network over it is transferred is fully decentralized.
Cryptocurrency first evolved during the time of World War 2, where countries began converting messages into uncrackable code to send it to their allies. Later in 2009, the first Cryptocurrency invented was Bitcoin that paved way for secure communications and transfers online. Soon more like Litecoin (LTC), Ethereum, Zcash, Ripple, and Monero started hitting the markets.
Best Cryptocurrency Exchange
Now, when you know what currency is blooming in the markets, you need a cryptocurrency exchange for buying and selling your investments. Protip for beginners, never invest all of it in one exchange. You might end up losing all your money due to bankruptcy and fluctuations in the trading market. Smartest way is to diversify your holdings across several of them. Therefore, some of the best Cryptocurrency Exchange of 2018 are:
- Coinbase: One of the largest crypto exchange at the moment with 10 million registered users, coinbase deals with all types of major virtual currencies.
- Gemini: It was launched by the Winkle Voss Twins of Facebook Fame. However, it has a setup very similar to Coinbase, but it only offers trading of bitcoin and Ethereum.
- Kraken: One of major currency exchanges that offers trading of 17 different cryptocurrencies. It has a strong encryption process that also accepts USDs.
Best Cryptocurrency Wallets
A Cryptocurrency wallet is a program that lets you send and receive digital currency and monitor their balance. If you need to have any kind of Cryptocurrency, you will need a digital wallet. One common misconception that wallets work like normal pocket wallets. No, they don’t store your currency. In fact, digital currency is not stored anywhere. It doesn’t exist in a physical form. All that exists are records of their transactions stored on block chain.
For example, when someone sends you bitcoin, they give ownership of their coins to your wallet’s address. To be able to unlock it, your wallet’s private key must match the public address the currency is assigned to. If that happens, the balance in your wallet increases and theirs decreases. There is no physical exchange. This transaction performed is stored as a record on the block chain.
That’s how the inside story works. Now, to be able to find a reliable wallet, we have listed out the Best Cryptocurrency Wallets of 2017 and 2018 accordingly:
- Coinbase: Besides being an exchange, it also acts as a wallet. Lets you buy and invest over time.
- Green Address: A bitcoin wallet for desktop, iOS and Android.
- BitGo: An effective business solution for Kraken and Bitstamp customers.
Best Cryptocurrency Wallets of 2018
The most famous and safest wallets that are to be used in 2018 are Bitcoin hardware wallets. They are a good choice when it comes to security and convenience. They include Ledger Nano S, Trezor and KeepKey. Using a hardware wallet enables you to have a hardware device protecting your data. Even if that is stolen, your bitcoins will always be protected by a PIN Code.