Cryptocurrency Wallets: Types of Crypto Wallets and Best Crypto Wallets
What is a cryptocurrency wallet? Is it safer to use a cryptocurrency wallet?
A cryptocurrency wallet is a digital wallet that allows you to store and retrieve your cryptocurrency assets. If you purchase cryptocurrency through cryptocurrency exchange, the crypto that you purchase will only be stored on the platform. In case the brokers go busted, you are unlikely to be compensated for your loss as crypto trading is not regulated in Hong Kong. Therefore, a growing number of investors would rather own his or her own wallet for safety and accessibility sake. It is only by keeping your own private keys can it give you access to your cryptocurrencies, which is suitable for long-term investors.
Best Crypto Exchange
HashKey Exchange
- Transaction fees
- Up to 0.29%
- Custody Fee
- HK$0
- Account Opening Min. Funding
- HK$10,000
【HashKey Aug: HK$300 Welcome Offer, No Retention】🎉💰🎁
FromAug 1–31, open an account via the MoneySmart designated link or promo code【MS2026】and complete the conditions below to claim an HK$300 cash voucher:
⭐️ Complete 1 digital asset transaction of at least HK$100 within 14 days of account opening to get: 🔥HK$300 cash* or ParknShop cash e-voucher
‼️ For full promo and reward details, please see 【Reward Details】below
OSL
- Trading Fee
- HK$0
- Custody Fee
- HK$0
- Account Opening Min. Funding
- HK$10,000
【OSL Aug Welcome Offer, Get HK$2,388】
From August 1 to 31, open an account successfully via the MoneySmart link and using referral code 【0DchG】, then complete the designated conditions to claim rewards
1️⃣ Deposit HK$80,000 or more within 14 days of account opening and hold for 30 days to receive HK$888 worth of Bitcoin.
2️⃣ Deposit HK$800,000 or more within 14 days of account opening and hold for 30 days to receive HK$1,888 worth of Bitcoin
Complete 1️⃣ or 2️⃣ to select one of the following MoneySmart Extra Rewards
1. HK$500 cash (via 5,000 SmartPoints to FPS)
2. HK$500 Apple Store e-Gift Card
3. HK$500 ParknShop e-Voucher
4. Hong Kong Plaza Premium Lounge APAC 3 hrs Access Pass x2 (Value HK$1,300)
Futu Securities Account
- Min. Commission Fee US Stocks
- US$0.99
- Commission Fee HK Stocks
- HK$0
- Account Opening Min. Funding
- HK$10,000
【August Bonus Reward】Aug 18–31: Download Futubull, enter code 【MSFUTU】 before deposit, then meet the holding requirements to claim your rewards
1️⃣【Deposit HK$80,000 & Hold for 60 days】💰 HK$2,000 cash* plus 2,000 SmartPoints/ ⬆️ HK$2,200 ParknShop / HKTVmall e-Voucher
🧭 Limited-time offer with a HK$80,000 deposit :
- HK$2,000 for SONY PlayStation 5 Digital Edition 825GB (Slim Version) (Value: HK$4.257) plus 2,000 SmartPoints
- HK$3,000 for Apple MacBook Neo 13" A18 Pro chip (8GB 256GB SSD) (Value : HK$5,499) plus 2,000 SmartPoints
2️⃣【Deposit HK$10,000 or Student Exclusive Offer & Hold for 60 days】💰 HK$1,000 cash* plus 1,000 SmartPoints/ ⬆️ HK$1,100 ParknShop / HKTVmall e-Voucher
🧭 Limited-time offer with a HK$10,000 deposit :
- HK$1,500 for Philips 6000 Series XW6264/11 Vacuum & Wash Cordless (Value: HK$5,398) plus 1,000 SmartPoints
- HK$3,100 for SONY PlayStation 5 Digital Edition 825GB (Slim Version) (Value: HK$4.257) plus 1,000 SmartPoints
‼️ Redeem SmartPoints at MoneySmart Reward Stores for Uber, Maxim's or PlayStation® Store vouchers and more.
‼️ Students: keep a HK$5,000 average daily balance for 60 days and get HK$1,000 cash or other rewards.
💥 More gifts too — airport lounge passes, Bowers & Wilkins headphones, Philips RO water dispenser. Tap 【More Details】
Tiger Brokers
- Min. Commission Fee US Stocks
- US$0.99/order
- Commission Fee HK Stocks
- HK$0
- Account Opening Min. Funding
- HK$10,000
【Welcome Rewards up to HK$3,088】
August 1–31: Deposit HK$10,000+ and open an account via the MoneySmart link with code【MONEYSMART】.
No retention needed — pick one: 💵 HK$500 Cash* / ParknShop / HKTVmall e-voucher
⭐️ Meet deposit, retention & trading requirements for an extra Tiger Brokers reward, up to HK$2,588.
See 【More Details】 below.
Types of cryptocurrency wallet
Hot wallet
Cold wallet
Open your OSL cryptocurrency trading account via MoneySmart now to enjoy exclusive offers!
Things you should know before getting a crypto wallet
Keys are written on a physical medium like paper for paper wallets - which makes it difficult to keep. Therefore, it is least recommended among all crypto wallets. However, if you lose your key, you end up losing all access to your crypto.
FAQ
What is a crypto wallet?
- For investors who would like to have a more secure option, they can purchase a cryptocurrency wallet. They generally fall under two main types: hot and cold wallets. Crypto wallets keep your private keys which give you access to your cryptocurrencies.
What is the difference between a cold wallet and a hot wallet?
- The major difference is that a hot wallet is connected to the internet while a cold wallet is not. Keys are stored in a USB like device for cold wallet that will only be connected to a computer when you would like to use your crypto.