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 July HK$700 Welcome Offer】🎉💰🎁
From July 1–31, open an account via MoneySmart's designated link or promo code 【MS2026】, complete the following 1️⃣ & 2️⃣ steps, to get a total of HK$700 cash:
1️⃣ Deposit HK$10,000 and hold for at least 7 days: Choose 🔥 HK$200 Cash* or a PARKnSHOP e-Gift Voucher
2️⃣ Complete 3 digital asset transactions of at least HK$100 each within 30 days, receive an additional: 🔥 HK$500 Cash* or a PARKnSHOP e-Gift Voucher
‼️ For full promotion and reward details, please refer to the 【More Details】 section below.
OSL
- Trading Fee
- HK$0
- Custody Fee
- HK$0
- Account Opening Min. Funding
- HK$10,000
【OSL July Welcome Offer, Get HK$2,388】
From July 8 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
【Open an Account & HK$2000 Cash】1–15 July: Download the Futu Moomoo App, enter promo code【MSFUTU】, complete account opening and balance retention requirements to receive up to HK$7,034 in welcome rewards.
1️⃣【Deposit HK$80,000 and hold for 60 days】 🔥 HK$2,000 cash*/ 🍎 HK$2,000 Apple Store Gift Card/ 💦 Philips RO Hot & Cold Pure Water Dispenser ADD6912/90 (value: HK$3,788)
2️⃣【Deposit HK$10,000 or Student Exclusive Offer & Hold for 60 days】🔥 HK$1,000 cash*/ 🆕 PHILIPS ADD5981 All-in-One Water Dispenser (value: HK$1,688) / HK$1,000 ParknShop e-Vouchers/ Apple Store Gift Card/ HKTVmall e-Vouchers
‼️More gifts, including Space X stock, Apple Watch, Bowers & more.Tap on【More Details】below to find out more about the campaign and rewards!
Tiger Brokers
【Tiger Brokers – Flash Welcome Offer】
During 1 - 31 July, open an account using code【MONEYSMART】& MoneySmart's link, deposit ≥HK$10,000 with no holding required, and choose one of the following rewards:
🎁 HK$500 Apple Store Gift Card/ PARKnSHOP e-voucher / HKTVmall e-voucher
⭐️ Eligible customers can also receive up to HK$2,588 in SpaceX stocks and trading cash coupons as welcome rewards from Tiger Brokers *
See【More Details】below for full promotion details.
- Margin Rate
- 1.5%
- Minimum Commission - Internet Trade
- HK$18
- Commission - Internet Trade
- 0.08%
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.