All lucrative businesses attract two kinds of people; those who want to work and earn and the ones who want to use underhand methods to acquire rewards. The cryptocurrency industry is no different. Being a technology-driven industry, hackers are the biggest threat to your portfolio. However, cases of theft are not unheard of as well.
Therefore, irrespective of how you have acquired your dash tokens, it is paramount that you secure them safely. There are several dash compatible wallets that you can from; however, you must put several issues into consideration when selecting one. These include;
Control keys management
Security and backup features
Convenience and ease of use
Operating system compatibility
If properly considered, these parameters should help you choose a suitable wallet that can keep your investment safe from hackers and other people with ill intentions. Also, you should select a wallet depending on how what you plan on doing with your crypto. Whether you intend on trading them often, store them for the long run or wish to buy stuff from online stores. This determine whether you use hot or cold wallets.
Hot wallets Vs. Cold Wallets
Simply put, hot wallets are online wallets, they are constantly connected to the Internet and can be accessed from any online terminal given the terminal user has the required verification credentials. Their accessibility aspect makes them ideal for users who intend on trading or transferring their crypto regularly. At the same time, it makes hot wallets the least secure storage option. You are, therefore, advised to keep a small portion of your crypto on hot wallets for transaction purposes only.
Cold wallets, on the other hand, are offline wallets and therefore, allot safer. With these wallets, you have nothing to worry about as long as your computer operating system and malware detection applications are up-to-date. You should store the vast majority of your stash on an offline wallet. They come in several categories include desktop wallets, hardware wallets, mobile wallets, paper wallets, and web wallets. For your benefit, a few of the best Dash compatible wallets have been explained below.
Hardware wallets come in the form of physical gadgets that are retained offline. However, you can easily plug one into a computer when necessary. The fact that you have to confirm every transaction by pressing a specific button on the device makes them a very secure alternative. There have no cases of hacked hardware wallets so far, so can rest assured that your crypto is safe.
Examples of hardware wallets include the legger Nano S, KeepKey, and Trezor.io. They are all different regarding features; therefore, you should do some research before selecting one.
Dash compatible desktop wallets are readily available with varying security and utility features. These include the Dash Core Win/64 Installer, Dash Electrum, cash core Win/64 ZIP and Exodus.
As the first multi-currency desktop wallet, Exodus has an attractive user interface and offers its users a full pie-chart of their crypto stash. It supports up to eleven altcoins and using it is free of charge. Exodus also has an inbuilt ShapeShift exchange facility, which means you can conveniently convert your dash tokens to other cryptocurrencies within seconds. This feature makes taking advantage of price shifts a lot easier for traders.
Dash Paper wallets
Paper wallets are vital bearer gadgets, in a way that whoever holds the wallet has unlimited access to the stored digital assets. They are some of the best yet cheapest storage units, especially for storing cryptocurrency secretly. The paper wallet bears both your public and private keys; therefore, it is vital that you keep them safe. Though, they are impossible to hack. An ideal example of paper wallets is Dash Core Paper Wallet.
Mobile wallets are storage applications that are hosted and launched on mobile phones. They are a convenient way of receiving, storing and sending digital assets and making small transactions. iOS and Android are compatible with most mobile storage applications. These wallets utilize a two-factor authentication protocol to ensure the safety of crypto. Examples of mobile wallets include Dash core iOS, Coinomi, DASH Wallets, and Jaxx.
As a multi-coin and mobile-only wallet, Coinomi is famous for its capability to support up to 70 cryptocurrencies and up to 200 tokens, the highest for any crypto wallet. It has also achieved equilibrium between security and a user-friendly interface.