As cryptocurrency adoption grows, crypto holders are looking for reliable and secure ways to store their digital assets. Mobile crypto wallets have become an increasingly popular option, allowing convenient access to crypto funds on-the-go. But with cyber threats on the rise, security remains a top concern. We take a look at two of the most secure types of mobile crypto wallets available today – non-custodial wallets and cold crypto wallets integrated into a mobile app – and make the case for why IronWallet does crypto storage right.
What are Cryptocurrency Wallets?
A cryptocurrency wallet is a software program or hardware device that allows individuals to store, send, and receive various cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Wallets don’t actually store your cryptocurrency funds themselves. Rather, they store the public and private keys needed to interact with blockchain addresses where coins associated with those keys are held.
There are several different types of cryptocurrency wallets to choose from:
Hardware wallets are physical devices, like a USB drive, that are designed for the sole purpose of securing crypto funds offline in “cold storage.” This prevents hacking since keys are air-gapped on the device instead of being held on a network-exposed computer or phone that could be compromised. Hardware wallets make transactions online convenient while still retaining high security.
Mobile wallets are apps on smartphones that allow crypto owners to access account information and conduct transactions. They are convenient for daily spending and accessing holdings on-the-go. Mobile wallets range from custodial wallets offered by exchanges to non-custodial “true” wallets where users fully control keys.
Desktop wallets work similarly to mobile wallet apps but run on laptop/desktop computers instead of phones. Desktop wallets can integrate with hardware wallets for increased security.
Web wallets run in web browsers to conduct crypto transactions online while accessing holdings. They can facilitate simple payments but are more vulnerable to hacking than hardware or software wallet solutions since keys are stored online and can have increased risks.
As cryptocurrency gains broader traction globally, installing a secure crypto wallet matched to usage patterns and security needs is an essential step for both individuals and institutions looking to hold blockchain assets safely while retaining practical access.
Non Custodial Crypto Wallet and Cold Mobile Crypto Wallet
Non-Custodial Wallets Offer Control But Limited Functionality
Non-custodial cryptocurrency wallets give users full control over their private keys. Because the keys are stored on the user’s device only, non-custodial wallets eliminate third-party risks associated with hosted wallet solutions. However, non-custodial wallet apps tend to offer limited functionality beyond basic sending and receiving of funds. Without servers to facilitate additional features, transactions typically require network fees, and users must manage wallet backups completely on their own.
Cold Wallets Integrate Deep Cold Storage with Mobile Convenience
Mobile apps that integrate cold wallet technology provide deeper security assurances than standard non-custodial wallets. Private keys are stored in a secure enclave on the mobile device and transactions require additional user authentication via PIN or biometrics for signing. This “deep cold” storage protects keys even if the mobile OS is compromised. And by connecting this cold storage to a mobile interface, users gain more convenience and functionality.
The Best of Both Worlds with IronWallet
IronWallet is a non-custodial mobile app that utilizes advanced encryption and biometric authentication to achieve a cold storage level of security while also enabling practical daily use of crypto funds.
At its core, IronWallet guarantees control and ownership to users by never holding keys on company servers like a custodial exchange would. Private keys are only accessible on users’ personal devices in an encrypted state, protected by device authentication requirements.
But unlike many non-custodial wallets, IronWallet provides a much more robust feature set, including:
- Support for over 1000 cryptocurrencies with new assets added regularly
- Ability to buy crypto assets directly from debit/credit cards
- Decentralized crypto-to-crypto exchanges
- Easy in-app fiat currency conversions across 47 national currencies
- Customizable portfolio tracking tools
In addition, IronWallet introduces cutting-edge innovations not found elsewhere in mobile crypto wallets:
- Native fee-less transactions for stablecoin transfers on Ethereum and Tron saving users even more on network costs
- Secure physical paper backup of seed phrases using built-in device camera
For both casual cryptocurrency holders and advanced power users, IronWallet hits the winning formula – delivering best-in-class cold storage protections alongside practical features for daily digital asset use and management. The extensive currency support, decentralized exchange capabilities, and robust portfolio management tools make IronWallet our top pick as the most secure, user-friendly, and fully-featured mobile cryptocurrency wallet available today.