If the dude on your right isn't talking about crypto, then the dude or your left surely must be. Indeed, it seems that everyone these days has digital gold fever, and at least a small amount of money invested in either bitcoin or one of the many altcoins. Will crypto rise? Will it crash? Is it the future of currency? Or just a bubble about to burst? The answer usually depends on who you ask. One thing, however, remains clear: cryptocurrency doesn't seem to going away any time soon. For that reason alone, you should get yourself a crypto or bitcoin wallet. Here's a breakdown of what that is exactly, along with a brief overview of the most popular cryptocurrency and bitcoin wallets available.\r\n\r\n\r\nYou'll also like:\r\nThe State of Cryptocurrency \u2013 Supply & Demand\r\n25 Simple Ways to Make Extra Money\r\nHow to Get a 5 Star Uber Rating (\u2026or Get On Their Bad Side)\r\n\r\n\r\n\r\n\r\nWhat is a Crypto or Bitcoin Wallet?\r\nMost of the crypto action goes down on exchanges, where you can either buy crypto directly or trade it with another owner. And while exchanges are generally quite safe to use, your holdings are potentially exposed to hackers and thieves. What's worse is that once your crypto's gone, it's gone for good. That's why you want to take your bitcoin or crypto off the exchange and put it in a wallet.\r\n\r\nThink of a crypto or bitcoin wallet as a personal bank account strictly for cryptocurrency. Each one comes with a public and private key. The public key is an address (i.e. a string of numbers) that allows other people to send crypto directly to your account. The private key is more or less like a PIN number allowing you, the account owner, to access your own funds. A quick word of advice? Don't tell anyone your private key.\r\nTypes of Crypto and Bitcoin Wallets\r\nLike crypto itself, crypto and bitcoin wallets come in a variety of forms. In the general sense, there are both "hot" and "cold" wallets. A "hot" wallet is one that's connected to the Internet. A "cold" wallet is off-line and stored in a place that can't be accessed by Internet invaders. Suffice to say, "cold" wallets are much safer than "hot" wallets. Here's a more intensive breakdown:\r\n\r\nDesktop:\u00a0The most common type among crypto and bitcoin wallets, a desktop wallet is one you can download directly onto your desktop. While it's not connected to the Internet, it's still not entirely safe because if your computer crashes or gets exposed malware, you could still lose your crypto. For that reason, you want to make sure you copy down the adjoining data (private key, etc) elsewhere so it doesn't get lost forever.\r\n\r\nOnline Wallets:\u00a0Hot wallets don't get much hotter than this. On the other hand, online wallets aren't without their advantages. One is that they're incredibly convenient, storing your information on the cloud and always having it readily accessible. Another advantage is that your public and private keys will always be retrievable, even if your computer crashes. Of course, all those perks won't matter if hackers are able to get your information and steal the money itself, which is beyond retrieval once nabbed. Furthermore, don't think of hackers as targeting your wallet alone. What they do is target a database with thousands of wallets in it, and swipe them all at once. Just a quick FYI: you'll usually need to undergo an ID verification process to set up an online wallet.\r\n\r\nSmartphone:\u00a0Think of smartphone wallets as having the same general functionality as a desktop wallet, except you install them as apps on your mobile device. They're convenient and readily accessible, and you can even use them to scan other wallet addresses for transfers. Like the desktop wallets, however, smartphone wallets are only as safe as the smartphone itself. To be safe, you should back up all the relevant information on a separate platform.\r\n\r\nHardware:\u00a0Think of a hardware wallet as a desktop wallet that stores your information on a separate USB stick or external hard drive. That grants you a certain degree of freedom, in that you can plug the USB stick in to any computer and access your wallet. Just remember to keep your hardware wallet secure for obvious reasons. That means backing it up on a regular basis, or having a way to retrieve the contents if there's a crash. There are some hardware wallets (known as purpose-built crypto hardware wallets) that have security measures built in.\r\n\r\nPaper:\u00a0For the utmost in security, paper wallets might be your best bet. They take all the action off your computer or smartphone, printing your public and private keys on a piece of paper, which thereby serves as your wallet. However, what sounds easy at first can get downright complicated. For starters, paper wallets oblige you to create your own public\/private keys. For that you'll need a key generator. You'll also need a software wallet so others can send money to your public key, which usually takes the form of a QR code on your paper wallet. Also, if you want to send money from your paper wallet to someone else, you need to first send it to a software wallet. Hence, the paper wallet--while arguably the most safe--is primarily for advanced users only.\r\n\r\n\r\nPopular Desktop Crypto and Bitcoin Wallets\r\nExodus: A supremely efficient wallet, Exodus offers a range of cryptocurrencies as well as the ability to trade on the ShapesShift exchange. The wallet is encrypted, but it does not offer two-factor authentication.\r\nGet it here\r\nArmory:\u00a0As the name implies, Armory is a "cold" wallet that goes to great lengths to keep your bitcoin safe and organised. This wallet only offers bitcoin.\r\nGet it here\r\nBlockchain Wallet:\u00a0Good for bitcoin and Ethereum only, Blockchain Wallet is known for its approachable layout and top notch security.\r\nGet it here\r\n\r\nPopular iOS Crypto and Bitcoin Wallets\r\nJaxx:\u00a0Offering bitcoin, Ethereum and a range of other cryptos, Jaxx touts a streamlined design and unfettered compatibility.\r\nGet it here\r\nBread:\u00a0Thanks to its straightforward layout, Bread simply couldn't be easier to use. It offers bitcoin only.\r\nGet it here\r\nMycelium:\u00a0All the bitcoiners out there swear by Mycelium, which offers only bitcoin and delivers a range of features, including integration with your hardware wallet.\r\nGet it here\r\n\r\nPopular Android Crypto and Bitcoin Wallets\r\nCoinomi:\u00a0On the widely-used Coinomi, you'll have access to a pain-free layout and a slew of cryptocurrencies.\r\nGet it here\r\nBread:\u00a0Good for bitcoin only, Bread keeps things beautifully unfettered.\r\nGet it here\r\nBlockchain Wallet:\u00a0Use the wildly popular Blockchain Wallet for bitcoin and Ethereum only, and expect the top tier of legibility and security in return.\r\nGet it here\r\n\r\nPopular Online Crypto and Bitcoin Wallets\r\nLocal Bitcoins:\u00a0A perennial favourite among Aussies, Local Bitcoin allows you to trade bitcoin directly with other users.\r\nGet it here\r\nCoinbase:\u00a0On the crypto world stage, few sites are more popular than Coinbase, however Aussies might find it difficult to sell there.\r\nGet it here\r\nBlockchain.info:\u00a0Free to use and good for bitcoin and ether, Blockchain.info touts years of experience, legions of users and high levels of security.\r\nGet it here\r\n\r\nPopular Hardware Crypto and Bitcoin Wallets\r\nLedger Nano S:\u00a0Compatible with a range of cryptos, Ledger Nano S keeps your money safe and sound inside a preciously portable hardware wallet.\r\nGet it here\r\nTrezor: The original hardware wallet is also the most secure, with the acclaim and popularity to back it up. Suffice to say, Trezor\u00a0will keep you safe from hackers and thieves.\r\nGet it here\r\nKeepkey:\u00a0Easy to use, virus-proof and equipped with back-up features, Keepkey is a keeper indeed.\r\nGet it here\r\nDisclaimer: The advice provided on this website is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation\u00a0andneeds. If any products are detailed on this website, you should obtain a Product Disclosure Statement relating to the products and consider its contents before making any decisions. Where quoted, past performance is not indicative of future performance. The user must accept sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.\r\n\r\n\r\nYou'll also like:\r\nThe State of Cryptocurrency \u2013 Supply & Demand\r\n25 Simple Ways to Make Extra Money\r\nHow to Get a 5 Star Uber Rating (\u2026or Get On Their Bad Side)\r\n\r\n\r\n\r\n\r\nHave you subscribed to\u00a0Man of Many? You can also follow us on\u00a0Facebook,\u00a0Twitter,\u00a0Instagram, and\u00a0YouTube.