Best Crypto Wallets for Rookies, Storage and Commerce.

Okane Pay
Good Audience
Published in
5 min readNov 6, 2018

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Cryptocurrency has given you back ownership of your money, you are the sole owner of it.

Crypto Wallets are a part of this revolution to help keep it that way; they are not like banks because YOU are in full control of your money.

These wallets hold “your money” and cryptographic keys (public & private) with much more security than a physical wallet. You can see them just as your physical wallet, but it’s a virtual one for your digital currency with the advantage of a lock.

You might want to read “7 Reasons why you should be using a digital Wallet

Most wallets are designed to hold one kind of crypto, for example, a Bitcoin Wallet, or an Ethereum Wallet. Nowadays there are numerous different types of wallets, paper wallets, hardware, software and even ones that hold multiple coins, but at the end of the day it is mostly about your needs, what do you need a wallet to do for you?

What do you need a crypto wallet for?

  • Is it to get started in the Crypto world?
  • Is it for a business or an individual?
  • Do you plan on transacting daily?
  • Would you like to store or hodl your cryptos?
  • Are you new in the crypto world?

Once you have determined your needs, you will know what to look for to generate your own security around it, and which wallet to choose, and remember in the crypto world you make your own security at all times.

You might want to read “2019 MUST BE SAFER THAN 2018” , lots of tips to help you stay safe in the crypto industry.

Security in this industry is always a major concern. After many attacks to cryptocurrency exchanges and wallets, security has taken another level and applications, exchanges, and wallets today are much safer than before. Still, we must do our part.

So I have selected wallets according to 3-Main-Categories which I find most important:

1. For Rookies.

If you are just getting started, it is important to be cautious with how you transact through exchanges, how to save your keys and choose a wallet. So here is an option that brings all of this into one single application.

Coinbase is considered a full platform because it is an exchange and a wallet allowing you to store, buy, sell, and trade cryptos. Considered the easiest wallet for first time buyers, not only because you have all in one place but the application is known for being user-friendly. The application charges fees of 1.49% per transactions, deposits are free, but fees may vary according to the region. Coinbase´s fees are considered a bit too high compared to the market, but many are willing to pay due to the convenience and ease.

Best suited for newbies and intermediate users.

2. For Storage or Hodling.

If you do not plan to transact your cryptos regularly then you should not let them lie on a hot platform, make sure to go for cold storage wallet or hardware like Ledger Nano S or Trezor (USB sized devices). Hardware wallets allow you to keep your cryptos offline, and this is best when you do not plan on transacting regularly or when you have a large number of cryptos. They are the safest way to store your coins, and also affordable (99$+) and suitable for rookies, intermediate and experienced users.

Ledger Blue, this advanced version of hardware wallet has 5-star review ratings. Built to endure sophisticated attacks and your private keys are safely isolated inside the device. It supports up to 11 assets allowing you to manage and store all your cryptos simultaneously. It´s a USB device which is bigger than the small hardware suggested above it resembles the older iPhones with Color Screen, Touchscreen Control, Malware Proof, and Security Chip. It costs 999$ U.S dollars.

Best suited for experienced users.

3. For Businesses and Commerce.

There are numerous existing wallet applications and ATMs around the world to help businesses start accepting cryptos as a method of payment, however, most of them are all exclusive of one coin, mostly Bitcoin, and as a business you want to be able to give your crypto customers more than one option of crypto as a method of payment.

OKANE PAY was built with commerce in mind to make it easier for retailers and merchants to start accepting BTC, ETH, and WCO at any store, anytime and anywhere, by simply downloading the app! 100% Free.

The application allows merchants to buy, sell, store, and start accepting cryptos as a method of payment, which will attract an entirely new community of crypto users around the world. With remarkably low fees: Sending and receiving from external wallets: 0.1% — Sending and receiving between Okane wallets: 0.05% — No deposit Fees!

They also have an affiliate program to help every user make even more $$$ by inviting their network to join and transact in the application, as they do users get 50% of the fees! Unlimited — the more they transact, the more money users make! Payments are processed instantly & globally!

It also features news and updates from the cryptocurrency world.

As you can see, this is much more than just a wallet it’s your entire crypto world at your fingertips, and even though this app was built with commerce in mind, it is appropriate for all crypto users.

Best suited for beginners, intermediate and experienced users.

Final Thought

Most software wallets are free, and most of the fees charged by these wallets refer to the network fees to transact on the blockchain platform, which you will find in all of them since they all depend on the blockchain.

Please note that when we say your cryptos are in the wallet, they are not really in the wallet, since cryptos cannot ever leave the blockchain. What the wallet actually holds is the keys, your digital signature that grants access to your cryptos on the blockchain. Having cryptos in the blockchain network is what secures them and guarantees ownership. So, all wallets do pretty much the same thing, but with specific features that can provide better services according to your circumstances.

I hope this post has given you the insight to search for wallets that will fit your needs exactly. Please let us know your thoughts in the comments and please share this to help someone else too!

The Okane Pay Team

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More than a digital wallet! It is designed to make you do more in less time. It’s simpler, faster and safer!