Here, we are concerned with wallets that are supported by android devices i.e. they operate on Android iOS. They are not different in function from every other wallet but there are differences in the mode of operation and the features they possess.
To use an Android wallet, all you have to do is download the software application and start using for trading activities or storage. All the different types of Android wallets are available on Google Play Store showing their reviews by various users and the ratings.
Some of the top features of an Android wallet include;
This is one of the most important feature of any wallet because you must have the ability to make investments with the cryptocurrencies it stores. Any wallet that doesn’t support investments isn’t any good of a wallet. There is always customer’s review for this feature in any Android wallet app on Google Play Store.
2. Margin Trading
This is indirectly a feature for being able to view multiple accounts at the same time. So, if you are a trader or investor in cryptocurrencies with multiple accounts all linked into a wallet, you definitely need this feature more than anything else for the safety of your funds.
3. Finance Tracking
Another important feature is being accountable for your finances or funds. A good wallet must have a feature for tracking finances so you would know where you have made certain transactions and how you would rectify transaction issues like trading fees if they result.
4. Bank Accounts Linking and International Transfers
A good android wallet will have a feature that links you to your bank so you can make easy withdrawals or deposits when you have to. Also, international transfers are inevitable when dealing with cryptocurrencies and activities like trading or mining.
All these top features are what makes an Android wallet great and convenient to use. Some of the different types of android wallets out of 34 of them that have been reviewed in this category on Cryptolinks are;
1. Coinbase Andrpid Wallet
2. Blockchain Wallet
3. Cryptonator Mobile Wallet
4. Coinspace Coin Wallet
5. Eidoo Multicurrency Wallet.
In selecting any of these android wallets, there are some factors you must consider;
The security of your wallet is very important because it determines the fate of your funds or asset. If you have a lose wallet where it is very easy to hack into your account and steal your funds, it wouldn’t be so good for business. Go for an android wallet where the security is highly guaranteed.
There are various ways you can secure your wallet; even though, the wallet has its own security protocol, employing another method won’t be such a bad idea. Most of them use a Multi-Factor or Two-Factor Authentication protocol as a wallet guard.
There are 2 different types of Keys, they are the public and private keys. The most important key here is the private key because it must be handled by an individual alone. A public key means anyone can have access to your wallet address and anything could happen, but with a private key, you can only share your wallet address with people you trust or few people generally.
However, there are cases where private keys are being trusted to a third-party which may not look too good for funds. Also, some wallets offer a special kind of treat whereby if you lose one key out of your sets of keys, you can still access your wallet conveniently.
• Digital assets
Digital assets are the most important thing when handling wallets generally. If you are a trader, investor or miner that makes use of different cryptocurrencies for business and would love to connect all of them to the same wallet, it is important to make sure that the type of android wallet you will be selecting can house the cryptocurrencies at the same time. These cryptocurrencies will be sharing the same wallet address and can be accessible anytime and anywhere in the world.
Summary and Conclusion
The fate of your digital assets or cryptocurrencies depend on your wallet, the better you improve the security mechanisms or protocols, the better it is to keep you safe. An android wallet is only compatible with an android device, any device different from android would only compromise the functionality of the wallet.
In conclusion, pick a wallet with the best features and automatically give answers to all your needs. If you are an investor, trader or miner, make sure the reviews are topnotch before you download them on Google Play Store for use.