Bitfoliex Wallet Reddit
Bitfoliex wallet scam – best 10 legit crypto wallets and trading platforms
Bitfoliex is an online wallet that promises to offer “highly secure, decentralized cryptocurrency storage” for its users. It was promoted as a Ponzi Scheme, and the company behind the brand seems to be Belgian. This company, Bitfoliex SA (AKA: The Global Digital Payment Services Company), claimed to provide two wallets for storing digital assets such as Bitcoin and Ripple (XRP), both insured by the company. The wallet was available for Windows, Mac, and Linux and downloaded from their official website. After launching in January 2018, Bitfoliex has been offline ever since May 15th with service disruptions. The Bitfoliex website is currently offline.
1. Trezor Model T Express
Trezor Model T Express is a hardware wallet that offers offline cold storage for cryptocurrencies. Since its release, the Trezor Model T has been the company’s leading wallet, designed for both long-term investors as well as active traders. It comes with all the features of the Trezor One, as well as support for newer cryptocurrencies and exchanges. All aspects of the Trezor T have been released under open-source licenses, which is a great benefit. Its built-in touch screen gives a premium feel and allows you to use your PIN and passphrase from the unit itself.
Pros of Trezor
- Works with Windows, macOS, Linux, and Android systems
- Transparent high security
- Easily back up your wallet with Shamir Backup
- Supports more than 1200 crypto coins
- Great for beginners
Cons of Trezor
- Not currently supported on iOS or Windows Phone systems
- The higher price could be a turn off for some
2. Ledger Nano
Ledger nano is another hardware wallet but offers higher security than Trezor due to its screen and buttons. It offers support for Bitcoin, Ethereum, Litecoin, Dogecoin, Zcash, and Dash.
Pros of ledger nano
-High security
-cheap
Cons of ledger nano
-Only compatible with bitcoin, ethereum, litecoin, and dash.
-No support for Ripple’s XRP or other currencies
3. Coinbase
Coinbase is an online wallet for storing bitcoin, litecoin, ethereum, and other coins. It offers a simple design with easy to use features such as instant purchasing of bitcoin, ethereum, or litecoin. Coinbase is considered one of the best digital currency exchange platforms due to its high trading volume & high liquidity.
Pros of coinbase
– Fast way to buy bitcoins, ease of use
– High liquidity and volume
– High transaction volume
Cons of coinbase
– Only compatible with bitcoin, ethereum, litecoin & dash
– Low security level
– No option to buy crypto with fiat (have to purchase bitcoin first then exchange that into other coins) works best for those who already own bitcoin.
4. Kraken
Kraken is another online bitcoin exchange based in San Francisco. Kraken is one of the “big four” exchanges for buying/selling cryptocurrencies. It offers the widest range of cryptocurrencies to buy and sell (Bitcoin, Litecoin, Ethereum, Ripple, Dash). The biggest advantage for Kraken is that it offers very low fees.
Pros of Kraken
– Low fees, high liquidity on the exchange
– Offers a high variety of currencies
Cons of Kraken
– Not so friendly interface, not good for beginners
– Only compatible with bitcoin, litecoin & dash.
5. KuCoin
Kucoin is an online cryptocurrency trading platform with support for more than 190 cryptocurrencies. Kucoin offers a variety of promotions to users, including bonuses for trading, referral bonuses, and airdrops.
Pros of kucoin
-Decent promotions (bonuses)
– Decent security
Cons of kucoin
– Only compatible with bitcoin, ethereum & litecoin.
– limited coins offered, security issues (hacked before)
6. Exodus
Exodus is another desktop multi-cryptocurrency wallet that has been around since July 2016. It is supported by MacOS, Windows and Linux. Exodus offers several features such as a pie-chart, displaying the different coins you own & the value of them in a graph or table. It looks very nice and is an easy to use platform for new users.
Pros of Exodus
-Beautiful design, easy to use
-Great for new users
Cons of Exodus
-Only compatible with bitcoin, ethereum & litecoin.-No support for Ripple’s XRP or other currencies (possible feature in the future)
7. Trust Wallet
Trust is a non-custodial cryptocurrency wallet that was launched in April 2018. The company behind the wallet states they store no client funds and offer an easy to use platform for buying cryptocurrencies. Trust is currently only available on Android devices, with iOS support coming soon.
Pros of trust
– User friendly, low fees
– Only compatible with bitcoin, ethereum & litecoin
Cons of trust
– Limited coins offered (compatibility with other coins in the future?)
-only available for android (check price), security issues (hacked before)
8. CoinMama
Coinmama is a platform that offers the purchase of bitcoins and ethereum through credit/debit cards. The company is based in Slovakia and was founded in 2013. Coinmama came to be because most sites require verification for credit card purchases which takes a long time. Coinmama offers instant delivery. It is one of the cheapest options out there, but it has some drawbacks as well.
Pros of CoinMama
-Low fees, instant purchase with debit/credit cards
-Great support, available everywhere
Cons of CoinMama
-Long verification time (you have to send a picture of your ID)
– Only compatible with bitcoin & ethereum.
9. BitPanda
Bitpanda is an online platform to buy and sell cryptocurrencies such as Bitcoin, Ethereum, Dash, etc. It offers a user friendly interface with many payment options (SEPA transfer, Skrill, Credit/Debit cards). Bitpanda was founded in October 2014 by Eric Demuth and Christian Trummer.
Pros of BitPanda
-Low fees, high liquidity on the exchange
-Offers a high variety of currencies
Cons of Bitpanda
– Only compatible with bitcoin, litecoin & dash.
– Long verification time (you have to send a picture of your ID)
10. Liquid
Liquid is a cryptocurrency trading platform that offers margin trading and lending. Mike Kayamori and Mario Gomez Lozada founded liquid in 2017 with headquarters in Japan. The website seems to be developed specifically for traders. It offers good charting options and many trading features, but there is little information about Liquid available so far. Pros and cons of liquid
Pros of Liquid
-Good charting options, user friendly interface
-Offers margin trading and lending
-Only available in select countries (mainly Asia).
Cons of Liquid
-No support for Ripple’s XRP or other currencies (possible feature in the future)
– Long verification time (you have to send a picture of your ID), not user-friendly.
Conclusion
The best wallet for you depends on what you are looking for. If you are looking for a simple wallet with enough security features, then Exodus is your best option. If you are an advanced trader, then Liquid might be the platform for you since it offers many features to make trading easier.