Crypto.com and Coinbase have hosted hot wallets, although this is not the most secure method for long-term storage. Luckily, these exchanges make it easy to self-custody your cryptocurrency with the appropriate hot wallet apps. Each standalone app is not custodial, giving you complete control over your private keys.
The Crypto.com DeFi wallet is a no-custodial app that allows users to store and transfer cryptocurrencies Non-Fungible Tokens (NFTs). While the wallet can be used independently, you can synchronize it with your Crypto.com account for smooth transactions. The wallet can interact with DeFi apps, particularly on the Cronos chain, and is compatible with popular Ethereum or BSC dApps such as OpenSea, Uniswap, and Pancake Swap.
Crypto.com DeFi wallet. Image: Crypto.com
The Crypto.com DeFi wallet’s “Earn” feature allows users to stake specific cryptos for rewards. You can “buy” or “swap” tokens within this DeFi wallet app. Although available for iOS and Android, the app can be downloaded and used as a browser extension.
The Coinbase wallet is one of the most reliable non-custodial hot wallets. Unlike a standard Coinbase account, this hot wallet allows anyone to store up to 4,000 crypto assets and NFTs on their own.
Those with a Coinbase account will enjoy seamless integration with the Coinbase wallet and you can transfer your cryptocurrencies to this app. In some countries, you can fund your Coinbase wallet with a debit or credit card.
If you have an existing Trust Wallet or MetaMask, you can import the appropriate recovery phrase into your Coinbase wallet. The Coinbase wallet is available for download on iOS and Android smartphones. You can also use the Coinbase wallet browser plugin.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers