Several types of wallets have been used to safely guard funds and each one of them have been selected based on preferences and the kind of features they possess that are different from others. Web wallet is a different kind of wallet because it makes use of an internet connection before you can guard your funds. Web wallets do not store their funds in an offline digital storage for some reasons; that still doesn’t make them preferable for some reasons.
In this category, there are different types of web wallets each having their pros and cons but have been considered the top ranked out of many others. The category has grouped them as the best, better, good and considerable. All these sites wouldn’t have been presented to you if they were not tested and reviewed from a reliable source.
According to the reviews, these sites have been selected and classified on some basis. Some of the sites in this web wallet category are; Coinbase wallet, My Ether wallet, Dogechain, Luno wallet, Bitgo wallet, etc. These are the few out of over 30 of them available on the website. All of them have been classified on the basis of;
2. Private and Public Keys.
3. Ability to hold digital assets.
However, each of these factors listed above will be explained below;
Security of funds and assets is top priority to any digital wallet. Regardless of the type of wallet, as long as it can hold digital assets without being vulnerable to hacking, then it is considered a good or suitable wallet. There is one thing with selecting a type of wallet out of different types and another thing selecting the best wallet from the type of wallet. For instance, there are wallet types like Electronic, Hardware, Paper, Web wallet, etc. and in this case, we are interested with Web wallet, so we pick the best site out of many in this web wallet category.
The best wallet under the Web wallet category is Coinbase wallet because of its level of security and the mechanism it operates on. Most of these sites have a top-level security with a 2-Factor Authentication or Multi-Factor Authentication and a Multi-Signature protocol.
Keeping your funds in a secure way is very important, you should choose wisely; taking a good look at the pros and cons of the sites.
• Private and Public Keys
Everyone knows what keys do; it is used to gain access. Private and Public keys are also a type of security protocol, but it is important to treat them separately because of how important they are. Few sites make use of private keys while most of them use public keys. A public key gives easy access to a third-party while a private key is only limited to whoever owns the digital wallet.
A website with only a public key is always vulnerable to hacking while a site with both private and public keys increases the level of security. You can have more than one private key for a digital wallet; and even if you misplace one, you could still have access to your funds easily.
Regardless of how some of these private keys could be, they could still be controlled by a third-party i.e. users end up giving up control of the keys. It is quite important to check out for these things if you want to select a web wallet to suit your transactions.
• Ability to hold digital assets
The ability to hold different types of digital assets is an important feature for any wallet. There are some wallets which are generally selective on the type of cryptocurrencies or coins they hold. A great web wallet supports many if not all types of coins available to keep; web wallets like Luno wallet that only supports 2 types of cryptocurrencies; Bitcoin and Ethereum.
Lastly, it may not be important but it is good enough to have a wonderful reputation that precedes you. Reputation is built based on how long you have been established and how perfectly you have attended to customer issues. Interestingly, the best web wallet has the best reputation on this basis.
Web wallets are one of the best types of wallets available for use and Cryptolinks.com has brought to you the very best types with regard to factors considered in the selection process. Coinbase is the best web wallet on the site but as a user, you may find other types alluring that suits your needs