Web wallets provide you with services required to send and receive cryptocurrencies online. It’s a convenient way in which to transact with cryptocurrency. However, it does come with its own shortcomings.
At Vaultavo, we aim to improve your overall cryptocurrency experience. This includes providing you with the know-how on how to store, manage, and utilize your crypto assets. Our latest guide will delve into the functionality of online crypto wallets. This will provide you with the insights required to make a sound decision moving forward as to how you want to store your digital coins.
What is a web wallet?
There are a number of different types of crypto wallets these days. The focus of this guide will hone in on a web wallet and the underlying aspects that one should consider; such as biometrics and a potential crypto API. A web wallet, as the name suggests, is a cryptocurrency wallet which is accessible via your web browser. Naturally, you’ll find that this type of wallet is very accessible. Even more so based on how funds are held. The best online wallets can be hosted or non-hosted – depending on the underlying platform. Non-hosted wallets serve a self-custody crypto solution; subsequently enhancing accessibility even further. Hosted web wallets incorporate a third-party entity that stores your keys.
Understanding the intricacies inherent in web wallets requires a deeper analysis of the characteristics of these very wallets. There are several advantages to using web wallets. Having said this, however, there are vital flaws which have become evident over time. Below, we aim to address the benefits and drawbacks of web wallets as experienced across the board.
Important aspects of a web wallet
At Vaultavo, our team are committed to uncovering each end of the cryptocurrency spectrum – while giving as much attention to all topics and components
Our first port of call looks at the ease-of-use which makes web wallets so appealing. Accessible via the web, logging into your wallet can be achieved on the go or while at home – as long as you are connected to the internet. It’s important to make use of fingerprint authentication crypto but this does enable users to make fast transactions without being hindered in the process. Truth be told this, this serves as one of the main advantages over alternative wallets.
As mentioned above, web wallets have come under a lot of scrutiny when it comes to overall security oversight. The apparent ease at which scams, such as phishing attacks, occur have left many skeptical. Problems with malware have been aplenty while another common occurrence is counterparty risk. Third-party entities have proven to be less trustworthy than first thought. Many online users experience funds which vanish without a trace. These security risks continue to plague the best online wallets and have led many to look towards greener pastures – so to speak.
Ability to store multiple cryptocurrencies
Online crypto wallets enable you to diversify your holdings without being curtailed in the process. Thus, if you have an interest in multiple cryptocurrencies, then the best online wallet is a good option for you. Naturally, if you are only interested in one type of crypto at present, then using a crypto-specific wallet is an option for you. As anyone would tell you though, being open to multiple crypto holdings will ensure that you don’t put all of your eggs in one basket.
The best web wallet online
There are a wide number of different web wallets online. Referred to as ‘hot wallets’, this type of wallet used for storing cryptocurrency has come under a lot of scrutiny in recent years. The argument for and against web wallets continues to rage on. Easily-accessible online crypto wallets, for all its convenience, provide far less security oversight. Many accounts of online crypto wallets that have been subjected to third-party attacks continue unabated.
Against the back-drop of these various security concerns, the best online web wallets have fallen out of favor. The current state-of-play is not lost on us. For this reason, our mission has been to offer an alternative solution using a private key smart card. One which we have managed to see through.
At Vaultavo, the option of using a highly-secure custodian asset solution puts the power back in your hands – so to speak. It is now possible to use sophisticated means to control your crypto assets and store these assets with the sound knowledge that your private keys are ‘unhackable’. We strongly-urge you to weigh up your options and keep in mind that the best crypto wallets are the ones which offer unparalleled governance of your personal crypto holdings.
How to open a crypto wallet
Regardless of whether you settle for a mobile crypto wallet, web wallet, or alternative solution; you need to know how to get started. We pride ourselves on making your life as easy as possible, even with the addition of biometrics. Embark on a crypto trading journey today with Vaultavo! If you are a retail trader, we recommend you browse through some of the most common questions you’d likely consider. You can learn more about crypto API and our fingerprint authentication crypto options.
If you are interested in using a state-of-the-art crypto custodian solution, get in touch with us. You can fill out the online form on our official website – provide your name, email address, and personalized message.
In conclusion, it is clear that there are certain benefits to using web wallets. This, however, does not quite outweigh the clear security issues that have been leveled against web wallets. With this in mind, it is vital that you take the time to consider your options for self-custody crypto. Security should always take preference over ease-of-use. As such, we urge you to engage with crypto trading without putting yourself at risk. Making use of the latest solutions will only enhance your online crypto experience.
With Vaultavo, you will be able to utilize an extremely secure biometric card which keeps your private keys safe. This new-and-improved technology puts your mind at ease and enables you to focus on your crypto activities without having to be concerned about your current assets.
Web wallets FAQs
What is a web wallet?
There are a number of different wallets for cryptocurrency storage nowadays. All you need to do is find the right type of wallet for you. This may be the latest hard wallet or simply an online crypto wallet which suits your needs. We suggest that you read our latest guides here at Vaultavo before you make up your mind. Getting to know the ins-and-outs of web wallets will make your final decision that much easier.
What is the best web wallet?
There are a number of prominent web wallets that have come to the fore in recent years. There is no doubt that each of these providers claim to offer one of the best services – in one or more departments. Taking these statements at face value might not always be the best idea. We recommend that you head on over to our latest training academy at Vaultavo. Our experts have provided you with a wealth of crypto guides so that you can find your feet before you sign up with a crypto wallet!
Are online crypto wallets secure?
You should always look to store the best cryptocurrencies safely and securely. There is nothing worse than someone gaining access to your crypto assets. This can be avoided when you make use of reputable online crypto wallets or an alternative wallet that works best for you. For starters, we recommend that you research our private key smart card to find out more! We are confident that you will pick up several insights that will serve you well moving forward.
Do I need to pay for web wallets?
You shouldn’t incur any costs when you sign up with online crypto wallets. However, there are always bound to be fees if you decide to transact using your crypto. It is important to understand the fee structure, as well as the complete package, of the web wallets that you might be interested in. We suggest that you read our latest coverage here at Vaultavo to find out more!
How to open a crypto wallet online?
Once you find the best online wallet for you, you will be keen to create an account. In order to do so, you will need to know how to complete any relevant registration process. This is actually a lot easier than you might think. We suggest that you read our latest guide to the best online wallet as this will provide you with a step-by-step outline. At Vaultavo, we aim to equip you with an all-inclusive crypto knowledge so that you become more knowledgeable.