Each client for storing cryptocurrencies has its own advantages and
disadvantages. There are several key criteria for comparing crypto wallets.
Non-custodial
storage
Non-custodial clients do not store private keys, passwords and user seed
phrases, therefore they are considered the most secure. Control over funds in
such crypto wallets belongs entirely to the users themselves.
But custody services have their advantages. For example, they allow you to
exchange cryptocurrency for other cryptoassets or fiat directly in your
account, and can also support additional functions: staking, depositing at
interest, and much more. Before using them, we must accept these risks.
There are hybrid online wallets. For example, the Blockchain.com wallet is non-custodial.
Users can make an unlimited number of transactions, but the interface also
supports exchange (Swap), deposit and purchase with fiat currencies.
Transparency
By this criterion, we determine whether the program contains open or closed
source code. Open source allows third-party developers to audit and identify
vulnerabilities if they are present in the client's source code. In other
words, open source implies lack of trust in the developer, but closed trust in
the development team.
Confidentiality
This item reflects whether the wallet has additional features to improve
user anonymity, such as rotating btc addresses, merging crypto transactions, or
supporting change addresses. Intuitive interface For many novice users, as a
rule, basic functionality is sufficient for transferring and receiving coins.
They do not need advanced features that burden the client interface and make it
difficult to interact with it. Support for new bitcoin addresses (Segwit). We
indicate whether the crypto wallet is compatible with the new format of SegWit
addresses 3 and bech32, which can speed up transactions and approximately halve
the cost of transaction fees.
Intuitive
interface
For many novice users, as a rule, basic functionality is sufficient for
transferring and receiving coins. They do not need
advanced features that burden the client interface and make it difficult to
interact with it.
Support for
new bitcoin addresses (Segwit)
We indicate whether the crypto wallet is compatible with the new format of
SegWit addresses 3 and bech32, which can speed up transactions and
approximately halve the cost of transaction fees.
