A digital wallet gives you a platform to hold your currencies. A digital wallet supports your cryptocurrencies together in the same way as a wallet has your cash together.
Digital wallets for cryptocurrencies have grown fast, with new technologies and trends in Canada,
Here is our pick of the five top best digital wallets for cryptocurrency in Canada you can invest in.
Let’s get started!
First up, let us quickly sum up digital wallets and their importance.
A digital wallet is a software for electronic money. It stores all your digital money, which you can use to make transactions.
Types of Digital Wallets
There are two kinds of digital wallets:
- Hardware wallets
- Software wallets
You can opt for anyone that suits your needs and requirements. Consider the cost of it if you decide to invest in a wallet.
Top 5 Digital Wallets in Canada
Next comes the top best digital wallets available in Canada.
1. The Trezor Model T
First on our list is the Trezor Model T. This is one of the suitable hardware wallets. It costs around 245 Canadian dollars and also supports over 1000 coins. We can easily connect it using a USB wire to your PC. Some coins that it holds include bitcoin, Litecoin, Zcash, and many more.
2. The Ledger Nano S
The Ledger Nano S is rated as one of the topmost hardware wallets present in the market. Also, it is much cheaper when compared to the other wallets. It costs only around 89 Canadian dollars, which is much cheaper than others. The Ledger Nano S can support up to 1500 coins. It can support up to 20 applications all at the same time on your device as well.
3. The Ledger Nano X
Next on our list is the Ledger Nano X. it supports over 1800 crypto coins and much more. It can cost around 159 Canadian dollars. It also comes with a live application so that users can manage from their smartphones as well. The Ledger Nano X is a brilliant assistant for checking your balance, buying or selling crypto coins, and much more.
4. Electrum Wallet
The Electrum software is free to use compared to other expensive wallets in the market. It supports bitcoin and is free for users. It is also considered secure than other hardware wallets. We can operate the Electrum on both desktops and mobiles.
5. The Wealthsimple Crypto
Last on our list is the Wealthsimple crypto wallet. On this platform, you can either buy bitcoin or ether. Unlike other wallets, it offers a joining bonus of $50 to its new users. The Wealthsimple crypto is very user-friendly, making it a perfect choice for beginners.
To sum up, there are many options available in the Canadian market for digital wallets. You should consider each feature of each wallet carefully to make your choice. The above options are a superb choice for users looking for digital wallets and cryptocurrencies.