 So hopefully in this video after you've watched it, you will find out which wallet is best for you. Now, before I continue, when I refer to cryptocurrency wallet, I'm also referring to tokens, okay? For the sake of this video, I'm going to use an interchangeable language. So just keep that in mind. So first of all, what is a cryptocurrency wallet? Well, a cryptocurrency wallet is a software program that stores your private and public keys that interacts with various different blockchains that enables users to both receive and send cryptocurrencies and tokens anywhere around the world. That's what it is in a nutshell, okay? An analogy I can give you, it's like having your physical wallet, but in a digitized way online, same but a little bit different, okay? But it's kind of like that to keep in mind, okay? And you can keep it in different areas. Now, there are different types of cryptocurrency wallets. The first type is a desktop. So a desktop wallet is downloaded, whether it's on your PC or whether it's on your Mac and you can only access it from one computer and it offers pretty good security. However the downfall is, you can only use it on your desktop, okay? Now, there is a second downfall for that too as well. If you do get a virus, your virus has a potentiality to hack your online wallet, which hackers can now access your private keys, therefore they can access your funds vis-a-vis your desktop wallet. So there are some pros and cons. Pro is it's easy. You can download it. Cons are it's quite accessible by hackers to put a Trojan or some type of fishing attempt to get your private keys, as well as keep in mind that a lot of people actually don't back up their wallet. So if your hard drive fries and you've never created a mnemonic for your cryptocurrency wallet on your desktop, well, you really can't do nothing much about it, okay? So that's one type of wallet, desktop. Second type is an online wallet. So that's a cloud wallet. Now the pros for a cloud wallet is obviously you can use it anywhere. You can use it on different devices. However, with this easy use, obviously there is a security issue. So the security issue is quite simple. Well, people can hack your passwords easier. They can clone your phone. You have more surface area and more real estate for people to access your private keys, therefore get in access to your cloud online wallet. Next wallet is a mobile wallet. So you download it on your mobile. It can be App Store, Google Play Store, whatever. There are many different mobile wallets, which I'll be getting to in a second. Now the pros are they're on mobile. You can use it anywhere around the world. Some are quite secure. Some of them have multi-signature accesses. A lot of them have backup features. So you create a mnemonic. This different phrases, some have different lengths of phrases. Pretty much as if you lose your phone, you can actually take those different phrases. I'll give you an example of a mnemonic phrase like Apple, Cherry, Pie, all these different words, these seed words. You can plug them in online or on your desktop and actually get the backup variation of your wallet so you don't lose your crypto funds. And when you move your backup, you're not actually backing up your cryptocurrency. You never keep your cryptocurrency on your phone. It's a misconception. What you have is actually the keys. So that mnemonic actually stores your private keys and that key, just like a key for a door lock will unlock your funds vis-a-vis on a blockchain. Next is a hardware. So hardware wallets are quite different than online wallets or mobile wallets because, A, they're on a physical device such as a USB key or other drive devices. But the upside to these hard wallets or cold storage wallets are security. The reason why you want a cold storage wallet or a hard wallet, interchangeable language over there, is because you want to store your cryptocurrency safely. If you have anything, my recommendation for anybody, if you don't want, if you don't want to risk losing any cryptocurrency, you keep it on a cold storage device. Your number can be different than my number. For me, anything above 10,000, I'm going to put it on a cold storage device. Anything below that, you know, whatever, I like to play around with different cryptos and tokens and have fun with that. So I really don't care if I lose it. So you got to figure out your number. What is your number that you're not willing to lose? As soon as you have that number, put it on a cold storage device. I'll be getting through recommendations, which I personally think are the easiest used to when it comes to cold wallet. And finally, obscured one, which I don't recommend to too many people just because it's easy to lose, is a paper wallet. So you can literally print your private keys on a piece of paper, like this, and you can store your cryptos and tokens on there. Downside, there's not too many downsides, except if you lose it. Well, once again, you can have a mnemonic, but if you don't back it up, if you don't do it right, I don't recommend it for most. I actually recommend a hard wallet as opposed to a paper wallet. But you have the option. It's actually pretty cool. Just imagine a little paper wallet and you can fold it up and carry around with you $10 million on there. Just I want to leave that with you. So a couple of things to keep in mind for cryptocurrency wallet safety and keeping it secure, always back up your wallet. So I'm just telling you this before I actually get into recommendations. So number one, always back up your wallet. Always, no matter what wallet you're using, whether it's online wallet, mobile wallet, whatever it may be, use a mnemonic, use a seed phrase, back it up. I can't tell you how many times I've heard people lose their phone or lose their passwords or whatever. They've just lost something. They never backed up their wallet and that's it. You can't really do anything about it. Number two, keep your software update like any good software. If you have your mobile or if you have it on desktop, make sure it's up to date. And finally, add extra security. So there are extra security such as two factor verification if you're doing online stuff. Make sure it's Google authentication as opposed to text message because people can easily clone your phone. So Google auth is the best safety feature when it comes to two step verification. And obviously there's multi-signature wallets, which I won't be getting into too much right now. So these are some questions you have to take in consideration when choosing your wallets. And I say wallets as in plural because I highly recommend you diversify all your tokens and cryptos to different storage devices and platforms. Okay, do you need your wallet for everyday purchases? Do you plan to use several currencies or one single currency? Do you require access to your digital wallet from anywhere or just from your house? Take time to assess these questions. These questions will determine which types of wallets and hard wallets you choose. Now we're going to get into the nitty gritty stuff, the actual recommendations. And I'm going to have pros and cons for both. Now, first one is the bread wallet. Now the bread wallet is a simple wallet. It's literally made for a child because a user interface is so simple. It's specifically just for Bitcoin, no other currencies. And the pros are it's very good on privacy. It's beginner-friendly. Like I'm telling you, when you see it, it's like simple, dead simple. It's open-source software. It's free. It's simple. It's clean. However, the cons are no web, no desktop interface, lax features, and it's a hot wallet. So it has less security and people can access your private keys easier. But if you're looking for something from like day-to-day transaction, maybe keep like 500 bucks in there just for your Bitcoins and something they can use on a day-to-day basis and you don't want to think about how do I use this wallet? Bread wallet is a great start for beginners. Number two, mycelium. So this is advanced variation. Right now, currently, it's only for Bitcoin, but they do have plans for multi-currency. Ethereum's next. And I think some tokens, if I may not be mistaken. Now, it is for both Android and iPhone. And what's really good about this is great privacy. It has advanced security like multi-signature security where you need multiple touch points to go online. It's open-source. It's free. But the cons, it is no web. It has no desktop interface. It is a hot wallet. And it's not really the best for beginners. So it really does depend on what stage you are in your crypto journey. I've used it sometimes. It's not my go-to wallet, but I like it. I think the user interface is really good. And next, we move on to is JAX. So JAX is another mobile wallet. What's really good about JAX is it has different currencies such as Ether, Ether Classic, Dash, the Litecoin, Bitcoin, et cetera, and many more other ones. What another great feature about this is, is the user interface. I think JAX has one of the best UX designs possible. It's quite instinctive. So when you log in, you exactly know what's going on. You don't have to second-guess yourself. It's pretty much, oh, I understand what's going on. So the pros are this, good privacy, security, multi-currency, wallet linking across multiple platforms. So you can have it on your desktop. You can have it on your iPad, and they sync with each other, which is amazing, okay? User-friendly. And like I said, the UX is one of my favorite UX when it comes to wallets. The cons is it's open-source, and it can be really, really slow, okay? Those are the cons. JAX is my go-to multi-currency wallet on my phone. I use it for the day-to-day transactions and paying people around the world. I like it, I enjoy it. Now, those are three hot wallets I was talking about. I want to talk about two hard wallets, okay? Two of my favorite hard wallets are, number one, Trezor. Trezor is a hardware Bitcoin wallet that is ideal for storing large amounts of Bitcoins. Trezor cannot be infected by malware and never exposes your private keys, which makes it really, really safe. Now, these are the pros for it. Good security, really good security. Privacy, it's cold storage. It has a very easy to use web interface, built-in screens, open-source software, and it's beginner-friendly. Cost, it's pretty good, it's around 100 bucks, but you must have device to send Bitcoins. I think it's an awesome device, and I recommend it to most people, so that's the first hardware wallet. The second is the Ledger Nano S, which I prefer a little bit more just because I'm biased and I like, I prefer more because I like the experience more. I think the technology between the Ledger and the Trezor is pretty much the same, but I just, I prefer the experience of the Ledger as opposed to the Trezor. So the Ledger is, it has amazing feel to it. It's multi-currency support. It has third-party apps that you can remove from the device. It has UTF support, and it's quite cheap, tell you the truth. It's only about 65 US compared to the other hard wallets. The cons are this, not as advanced as the other hard wallet, no ability to create hidden accounts, and no password manager. However, if you're looking for an easy-to-use hard wallet that looks good, that has the easiest onboarding process possible, I mean, you put the wallet in your USB, it comes with one small booklet that you open up, part one, part two, part three, anyone can get it. I can give that to my mom. I can give that to my sister. I can give that to my neighbor, and they'll understand how to use it. That's what I like about it. It has amazing backup security. So even if you lose a hard key or somehow magnetically, it gets de-magnetized or whatever it may be, you have that phrase, the words, that you can back up your Bitcoins, Ether, and multi-currencies they have on there. So that's my preferred choice when it comes to the hardware wallet, okay? So that pretty much wraps it up. I'm gonna leave you with this thought. I never ever recommend keeping any Bitcoins on exchange or any cryptocurrencies or tokens on exchange. Exchanges are to exchange, to go in and buy and then leave. Just keep that in mind. It's not a wallet, it's not a bank. It's there for you to have a transaction, a transaction to purchase, and a transaction to exit that purchase. Never keep your money in other people's platform. When people talk about, oh, I remember Bitcoin got hacked, Mt. Gox, that was an exchange. That was where people kept their Bitcoin. Bitcoin never got hacked, Mt. Gox got hacked. So always have safety first. Keep your cryptocurrency safe. Buy them, take them out, put them on a hard wallet, the ones you wanna store for long-term use, and the ones you wanna use on a daily basis, maybe trade a little bit, or pay your employees, or buy your food, or pay your plane ticket. Keep it on a nice mobile wallet. You know, I always tell people if I carry 200 bucks on me, I don't care if I lose it. That's my cost of living on a day-to-day basis. So there you have it. Those are my recommendations. I have some links below. So there's a link for the ledger below. There's a link for the exchanges I like from below. So, and if you have any questions for me, leave a comment below. I'm actually curious to know what your favorite wallets are, hard wallets, maybe I miss them. I'll make a second video, or like a part two video for this. And catch you tomorrow. Peace.