Most Popular Cryptocurrency Wallets
As an introduction to our Guarda wallet review, we have to explain to you the various types of wallets around for cryptocurrency. We will be talking about the best Bitcoin wallets in the UK and the types of wallets they offer.
There are two classifications of cryptocurrency and bitcoin wallets available – cold wallets and hot wallets. Cold wallets are not online, and you keep them at home or on your person. One type is a paper wallet where you print out the keys and keep safe. Then there is a hardware wallet. With a hardware wallet, all of your cryptos are kept on a device. You only plug this device into your computer when you want to buy something with cryptocurrency. This is the most common type of cold wallet, and in addition to this Guarda wallet review, we have many cold wallet reviews for you to peruse.
Hot wallets are for people who buy a lot of stuff with crypto or else regularly get paid with crypto. One type is a software wallet, which runs on your computer or cell phone. Guarda is a software wallet.
Then there are online wallets. These are often connected to various crypto exchanges. They are simple and just require a password or PIN. What makes these wallets vulnerable is that if the company goes bankrupt you will lose access to your funds.
Pros & Cons Of The Guarda Wallet
The sheer number of cryptocurrencies that can be stored on the variety of Guarda wallets is its biggest selling point, and one that pleasantly surprised our Guarda wallet review team. The second biggest pro for the product is the fact that all of the keys are stored with the user and not online with the company. That keeps users protected, should they be hacked.
You can also import Guarda to an external device giving it the protection of a cold wallet with the convenience of a hot wallet. That said most people will use one of the many browser extensions or downloadable software to run Guarda. The downside of Guarda is that it is web-based, so it is not as secure as a traditional cold wallet.
You also don’t have to worry about dealing with crypto exchanges.
Cryptocurrencies & Technology
Guarda pretty much supports all cryptocurrencies. At the moment it allows you to use over 50 of them and that number is growing. Because Guarda is open-source, people are constantly contributing to it.
This allows security at Guarda to become tighter and tighter as time goes on. They also provide in their apps the option of requiring a fingerprint or a retinal scan to unlock the wallet which adds an extra level of security. In preparing our Guarda wallet review we take all of this into consideration.
The company uses its technology to encrypt your data and then stores it on your computer or phone, which means the company itself does not have control of your keys. This leap in technology adds a layer of security. We took this into account when we made our Guarda wallet review. Guarda has some of the most impressive technology we’ve seen incorporated into a hot wallet.
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The various Guarda wallets are easy to install and start using. First, if you have an Apple device go to their store and search for Guarda and download it. If you have an Android enabled device go to their store and search for Moxie. Both will be the same app. Then download them. Once they are downloaded, open them up. Once open click on “Create New Wallet.” Once you do so you’ll be prompted to enter a password. Make it strong. You will be asked to enter it twice to avoid any typos you might otherwise make.
Then the program will ask you if you’ve written down the password. Click on “I’ve Written It Down.” Please do write your password somewhere because Guarda will not be able to find it for you as it doesn’t store any of your information.
At that point, you are set up. You don’t need to give them your name. You don’t need to provide them with an email address. You don’t need to give them your phone number. This is by far the easiest crypto wallet set up we’ve seen. And we take that into account with our Guarda wallet review. The fact that the company does not store any of your information makes it more secure. On the other hand, if you ever lose your password you will be out of luck.
So, make sure that you write down your password and keep it somewhere safe. Otherwise, you will never be able to access your crypto cash again. That sounds harsh, but it does contribute to the safety of the wallet. This is all taken into account in our Guarda wallet review. If you are the type of person apt to forget your password, other wallets will allow you to store it and provide it back to you when you give them a string of words you have previously recorded.
Security & Support
Judging Guarda’s security is a bit tough. There have been multiple complaints about accounts getting hacked. It’s unclear if this happened or if because Guarda attracts newbies to cryptocurrency, people may not realize how the cryptocurrency market works.
In theory, the security should be fairly solid given that Guarda does not store your password, but instead puts it on your device. That said Guarda is open-sourced, so it’s unclear if someone would be able to insert some sort of malicious code into the system. As part of our Guarda wallet review, we, therefore, advise you to take this into consideration before downloading Guarda.
As to customer service, you have to fill out a support ticket and then wait for the Guarda team to get back to you. Their site actively encourages you to simply reinstall the program if there are problems and see if that fixes them. The lack of immediate support definitely influences our Guarda wallet review.
Guarda offers some decent open-sourced crypto wallets. They have the nice function of not storing your password and instead of putting it on your device which should make it more secure. There is no Guarda wallet promo code. There are no Guarda fees. Guarda withdrawal is free but may take some time to process. There are no Guarda limits.
There has been some controversy started by people who feel that someone stole from them. It is unclear if there is a basis to this, or whether newbies to crypto simply don’t understand how the currencies go up and down. It is easy to access and use the wallet, and that plays into our Guarda wallet review.
You can also try these alternatives, which we prefer as you can also combine the wallet with a functional exchange.
Cryptocurrencies are highly volatile, be aware of the risks when trading them.