The infamous technology review website – TechRadar, have today published an article highlighting their top five cryptocurrency wallets. I often use TechRadar to help me decide which new tech-products to buy, be that a new laptop or a smart phone etc, simply because they are an established review source and often give really good insight when it comes to weighing up the pros and cons of products. Therefore, you can assume that the following review comes with great authority.
You can read the full review for yourself here-
Otherwise, sit back whilst we explore the top five wallets for you!
In fifth place sits Exodus, a multi-currency wallet with a ‘stunning visual interface’. TechRadar have selected Exodus for it’s user-friendly format and its security features, including a master seed (to use in case you forget your login details) and password protection. Moreover, Exodus is fully customisable meaning within its interface, you can select skins to make it look more aesthetically pleasing. One big downside to Exodus is that it is not open source, meaning users need to trust that the Exodus developers have not filled the wallets code with back doors or purposeful security bugs.
In fourth place is Rippex, which according to TechRadar is an easy to use wallet with cold storage facilities. Rippex is the main desktop-based wallet for the storage of Ripple XRP, but some drawbacks to this software include a lack of a beta version, plus a high fee of 20 XRP which in turn enables users to actual use the wallet.
Coming up in third place, according to TechRadar is Jaxx, a simple to use wallet with multi-currency functionality. Jaxx is a bit of a veteran and thus has been around since 2014. Like Exodus, Jaxx boasts security features such as a 12-word master seed. A cool feature within Jaxx is known as ‘Shapeshift’ that allows users to use the wallet to instantly convert crypto-balances (so for example from Litecoin to DASH). Jaxx is available as a smartphone app or as a Google Chrome extension. TechRadar however to question the integrity of Jaxx, suggesting that some elements of its closed source software to make it vulnerable to attack.
The Electrum wallet sits in second place, TechRadar believes it is lightweight, easy to set up and has useful recovery features. It’s a long server, having been around since 2011. A feature of Electrum is that it connects to servers to verify your cryptocurrency payments and not the entire blockchain, this means it does not use a tonne of memory and thus, is quick to use. In some instances, though, this reliance on servers over the blockchain could be problematic, for example, if the servers go down, you can’t use your wallet.
In first place, the big one, sits Bitcoin Core, according to TechRadar at least. As Bitcoin Core is the original Bitcoin Client it has had quite some time to iron out bugs and to get to know what crypto-customers want. Bitcoin Core boasts great fraud protection and also helps ensure anonymity, through integration with the Tor network. Due to its size, and the fact it downloads the entire blockchain to view transactions, Bitcoin Core however can be quite large and cumbersome, it also uses a tonne of bandwidth, so its use can slow your network down.
If anything, hopefully this TechRadar Review has highlighted some pros and cons of wallets that you may not have previously thought about. You shouldn’t take this review too seriously, but, it can be used to help you make better informed decisions about which wallets you decide to use. Either way, making it into TechRadar’s top five is an impressive feat in itself, don’t forget that!