However, there are also pragmatic reasons as to why you should hold your cryptocurrency wealth in a private wallet. This is perhaps unsurprising since the cryptocurrency movement was originally built upon the idea of the decentralization of wealth.
In other words, you can take full custody of your digital tokens, eliminating any dependence on third parties or middlemen. Unlike most other asset classes, cryptocurrency was designed to be held by individuals-rather than large businesses and corporations.
Before understanding which wallet is right for you, here’s why you should consider getting one in the first place. Whether you’re just getting started with cryptocurrencies or have already accumulated a few different tokens, your choice of a digital wallet can have an outsized impact on the long-term security of your assets.Ĭryptocurrency wallets are a dime a dozen these days, each with its own strengths and weaknesses.
