How To Choose The Best Crypto Wallet

With cryptocurrency's constant growth and demand, it remains a worldwide asset. Trading of crypto assets is now global, but when people gain access to these assets, where do they store them? Crypto wallets, of course.

Crypto wallets are media for sending, receiving, and storing crypto. Because of their large number, deciding on the right one is difficult. Do you want to protect your cryptocurrency? Consider these before deciding on your crypto wallet.

Types of Crypto Wallets

There are three main categories: paper wallets, hardware wallets, and software wallets, further classified into hot and cold storage wallets. Selecting a good wallet is a basic yet important part of getting into crypto. To choose the best crypto wallet, you must understand and differentiate between a "Hot" wallet and a "Cold" storage wallet.

Hot Wallet

A hot wallet is classified as a software wallet that connects to the internet and cryptocurrency network. Here, crypto is easily accessible for trading, and hot wallets aren't the best choice if you intend to store crypto assets in the long term.

Hot wallets store your private keys online, are easy to use, and can retrieve assets from backups on multiple devices. Examples of Hot wallets are Coinbase Wallet and Trust Wallet.

This type of storage wallet has several pros and cons for its internet connection. A noteworthy con for hot wallets is their poor cybersecurity, which can lead to vulnerability and hacking.

Cold Wallet

Cold wallets are hardware wallets, meaning they aren't internet-enabled. They store your crypto and private keys offline, which makes them less susceptible to hacking.

Cold storage wallets are physical devices that protect your cryptocurrency offline. Think of them as a USB or paper carrying your private keys away from the internet. However, to transfer assets in cold storage wallets, you must connect to the internet for transactions.

Cold wallets are widely considered an efficient, secure cryptocurrency storage option. They are convenient for long-term storage, protecting large amounts of digital assets, but not for daily transactions due to their lack of connection to the Internet. A common con is their retrieval; losing the wallet can lead to a permanent loss.

A good example is Roqqu, which stores 98% of its assets offline in cold storage wallets and grants its users quality cyber security. The Ledger USB wallet and TREZOR are examples of hardware wallets.

Factors to Guide You When Choosing a Crypto Wallet

When choosing the best crypto wallet, you must prioritize your needs and assets. Some questions that will help you make a better decision include: Do you want to transfer your crypto daily or hold it long-term? Are you storing large amounts? Some other factors to consider are;

Purpose

The purpose of needing a wallet is fundamental to consider when choosing one. It will narrow your decision regarding the type of wallet needed. You need different wallets capable of efficiently carrying out tasks for different purposes.

The Hot wallets connect to the internet and are easily accessible, making them the best choice if you intend to make daily transactions. However, cold wallets are offline, making it difficult to transact regularly.

Hot wallets are online, and it isn't advisable to store your crypto long-term because of its vulnerability to hacking. Cold storage wallets like Roqqu are the best choice for holding cryptocurrency you won't touch for a while.

Security

Security is an important factor to consider when choosing a crypto wallet. A wallet's security is a defense to keep your crypto and private keys from the wrong hands. In crypto, you have public and private keys.

Public keys are your wallet address;, they do not need to be heavily secured. Private keys, however, are alphanumeric codes that serve as your PIN and need to be heavily secured. Unauthorized access to them leaves your finances at risk.

Hot wallets have built-in security measures to protect your private keys, but they are online and more vulnerable to online threats. Cold wallets like Roqqu, which are offline and have security features like two-factor authentication, have the edge over hot wallets in terms of security.

Supported Tokens

Today, over 400 crypto tokens exist, from Bitcoin and Ethereum to newer ones and even unknown ones. A single crypto wallet cannot support all of them.

Crypto wallets like Binance and Roqqu support a wide range of crypto tokens with over 100+ tokens listed. It is important to know the tokens supported before choosing a wallet. You cannot choose a wallet that does not support your tokens. The best crypto wallets today support a wide range of crypto tokens.

Backup and Recovery

When choosing a crypto wallet, it is important to consider the efficiency of the backup and recovery system. If your device is lost or damaged, having a reliable means to recover and access your funds is important.

Hot wallets are easier to retrieve than cold wallets. It isn't advisable to keep your private keys online. You can create written backups of the keys, keep them hidden, and use the recovery options set up by the wallet. Cold storage wallets in the form of physical devices need securing. Losing the device can lead to permanent loss of your assets.

Fees

Crypto wallets tend to charge transaction fees, which vary in amount. Some transactions can be free, some charge small amounts, and some charge high amounts.

These transaction fees help the wallet to ensure that the transfer is quicker. Users need to control the fees they pay to suit their comfort.
People who prioritize this factor when choosing the best crypto wallet need one that offers fast, medium, and slow transactions. Barely anyone wants to pay high transaction fees for a fast process. Roqqu and Binance are good examples of wallets with cheap transaction fees.

Choosing the best crypto wallet can be overwhelming because of the large number available today. Both hot storage wallets and cold storage wallets offer several benefits to users. It is important to choose a wallet that meets your requirements. While we recommend Roqqu, there are other good crypto wallets.

Roqqu Review

Roqqu is a Nigerian-based crypto exchange and trading platform. It was established in Lagos, Nigeria, by Uchenna Nnodim in 2019. Over the years, Roqqu has gone global, supporting over 100+ crypto tokens and over 1.6 million users.
Can you trust Roqqu? A common question asked. This article provides an honest review of everything you need to know about the company and the services it provides

Roqqu Pros
● A user-friendly mobile application
● Low transaction fees
● Enhanced security

Roqqu Cons
● Few payment options
● Complaints of poor service with complaint resolution

Roqqu Offers

Roqqu offers its users a wide range of trading services as a trading platform. Its mobile app currently supports 100+ tradeable crypto coins and tokens. Other services it provides are education tools, low to zero transaction fees, and multiple customer service mediums, all of which we discuss in this article.

Roqqu Mobile App

Roqqu's free mobile app, available for both Android and Apple users, is designed with simplicity and ease of use in mind. Its intuitive interface ensures a smooth navigation experience, making crypto transactions on the go a breeze, settling within seconds.
The mobile app offers various bill payments for airtime and electricity purchases. There have been complaints about unsuccessful transactions and glitches in the Roqqu app. However, reports on PlayStore show Roqqu’s executives actively responding to complaints.

Roqqu Fees

Roqqu offers one of the lowest transaction fees of all cryptocurrency exchange wallets. There is a 2% flat rate for crypto conversions, and each crypto token has a fee dependent on the chosen network.
These are the only fees you must pay with Roqqu; everything else is free. No commission is attached for currency conversions, withdrawals, and deposits, all carried out in the mobile app. As a result, I find that Roqqu’s fees are considerably lower than those of all the other wallets that charge a fee for every transaction.

Account Opening on Roqqu

Thanks to the mobile app, opening an account with Roqqu is simple. The first step is to download the app. Once you get it, new users will need to sign up, and the others will log in if they already have an account with them.
During sign-up, you must provide essential information like your e-mail address and password. After providing the information, Roqqu will send a verification link to the given address; clicking on it instantly activates your account. Opening a Roqqu account will not pose an issue for new members.

KYC

Following crypto regulations, Roqqu has a Know Your Customer (KYC) verification process. To complete it, you will submit identification documents like passports or government-issued IDs.

Deposit and Withdrawal

With Roqqu, deposits, and withdrawals are fast and simple. The mobile app has a "deposit" and "withdraw" option. All you need to do is find them, click, input the amount of your choice, and expect your funds in seconds.
Deposits and withdrawals with the Roqqu app are free of commission. Previous complaints about delayed or unsuccessful transactions have been resolved. However, if they occur, Roqqu customer support is available.

Savings on Roqqu

On the mobile application, an “Earn” section is present below the menu button. Here, you can see the main features of the Roqqu app, such as the “Trade” and “Fiat” sections for deposits and withdrawals. Thanks to its saving feature, you can save your crypto for rewards.

User Interface

Roqqu has a clean and beautiful user-friendly interface with zero loading errors. The interface has clear sections that show the features of Roqqu, making it easy for beginners and expert traders to navigate.

Supported Cryptocurrency
Roqqu supports many cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Steem, Dogecoin, Ripple, and 100 others. It offers one of the highest numbers of cryptocurrencies for trading that can be traded against the Nigerian Naira.

Roqqu Academy

The Roqqu Academy is an educational tool you can find in mobile applications. Roqqu offers its users the necessary tools for understanding and navigating the blockchain. The academy is a feature that is rare on many platforms.

Customer Support

Roqqu's support team is available 24/7 for questions and assistance. They offer services through multiple channels, such as live chat, email, social media, and a help center with guidelines for navigating the Roqqu app.

Roqqu invests in customer satisfaction. Occasionally, they interact with their customers through social media posts and comments, asking about their experience and how to improve it.
With multiple channels to contact them, you should expect a quick response. However, some users say otherwise. There are complaints with no response even after 24 hours. The platform promises to work on this.

Security

Roqqu places utmost importance on the security and safety of your cryptocurrency. The platform has implemented advanced measures and encryptions to safeguard your crypto coins and tokens from potential hacking incidents, ensuring a secure trading environment.
Since its founding in 2019, Roqqu has maintained a secure image with zero hacking reports. To preserve assets, Roqqu implements a cold wallet, an offline wallet, which reduces the risks of online threats.

Trading Dashboard

The Roqqu mobile app's interface has a trading dashboard that shows market charts and trends. The dashboard lets you track your trading progress and make decisions based on the information provided.

Roqqu’s Referral Program

This feature is straightforward and allows you to earn some extra cash. Roqqu provides all its users with a unique affiliate link. You earn a 0.5% commission on transactions for life from anyone who uses your link to sign up for the Roqqu platform. Given that it’s a lifelong benefit, the referral program is fascinating and lucrative for Roqqu users,

Is Roqqu Safe?

Roqqu is a registered and licensed secure platform for holding and trading coins ranging from Bitcoin to Tron. It is one of the leading African blockchain techs set to go beyond and become the best.

All user complaints about bad experiences and the platform's credibility are always investigated and rectified. Whenever the platform goes on maintenance, a broadcast message is sent to all its users to refrain from transacting to avoid losing funds.

The platform has gained the trust of many users, with over $1 billion in assets traded. Despite the current ban on cryptocurrency, which prevents crypto trading in certain countries, Roqqu remains one of the accessible crypto wallets for Nigerians.

Conclusion
From the research, it is safe to say Roqqu is a safe exchange wallet. Its services allow for a seamless trading experience, and the current restriction on cryptocurrencies puts them in a good place. Have you personally tried Roqqu? What were your experiences?