If you’re buying and selling crypto on a particular exchange, there’s something to be said for using its wallet, too. After all, you know it will be able to handle the cryptocurrencies available of that platform.
However, another strategy would be to use that as a “hot” wallet, which is live online only for cryptos you’re considering trading, while moving your investments offline to a third-party wallet.
The Top 5
In the fourth edition of the PYMNTS’ Provider Ranking of Cryptocurrency Wallets, No. 1 is back to two providers, with the Coinbase and Crypto.com wallets tying with perfect scores, while the digital wallet from the world’s largest exchange, Binance, dropped from a score of 100 to 98 to take second place.
That left the Trust wallet back in third, sharing a score of 91 with the Winklevoss brothers’ Gemini exchange wallet.
The Blockchain.com wallet remained behind Trust’s, but this month, that meant a No. 4 slot.
Safepal – Crypto Wallet held fast at No. 5, as did the Wirex Card and Multicurrency Crypto Wallet, which maintained the tie.
The Top 10
In many ways, Abra: Bitcoin and Crypto Wallet was the biggest story this month, jumping 20 points to a score of 80 that brought it into the top 10 in sixth position.
India’s Unocoin, which operates the country’s largest bitcoin-to-rupee trading platform, defended its newly won position on the top 10, holding on to seventh place. It was followed by Bakkt, whose wallet app came in at No. 8.
Strike may have wowed the crypto world this week by bringing bitcoin payments to Shopify, prepaid provider Blackhawk Network and, most importantly, with point-of-sale terminal maker NCR. However, its wallet, which jumped from nowhere to No. 4 last week, came down to earth, landing at No. 9.
Bitcoin Wallet also held onto its spot in the top 10, taking the last slot.
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