CryptoWallet.com Review 2024. Is it safe?

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Emerging from the many crypto wallets available on the market, CryptoWallet.com is an interesting wallet option worth exploring. 

The self-proclaimed “neo-bank” operates not only as a crypto exchange, where you can buy, sell and trade cryptocurrency but also “aims to bring the same level of mass adoption as the dollar or euro.”

As CryptoWallet.com continues to state: “We believe that everybody should be able to buy and sell crypto hassle-free and have the freedom to spend crypto just like regular money”, it begs to question its platform, user-friendliness and above all, its security

In this article, we will explore all the features of CrpytoWallet.com and see how it really compares to other popular wallets. Continue reading for your go-to CryptoWallet.com review! 

cryptowaller.com review

Safety First – How Secure is Cryptowallet.com?

Jumping straight into the main point – security. How does CryptoWallet.com protect you and your crypto?

Well, this is an interesting concept and point to make about CryptoWallet.com. As it is SO new and continues to develop with set goals for each quarter of 2024, the evolution of this wallet is ever-changing.

Like any other platform, of course, you have a username, password, PIN, etc. but we must point out that CryptoWallet.com is a web-based wallet and therefore is HIGHLY susceptible to hacking and phishing scams. The good news is that CryptoWallet.com offers insurance on all crypto and fiat assets. Meaning that if they get hacked, you will be reimbursed. 

The key point here is that CryptoWallet.com itself admits that they are not the best solution for long-term crypto storage as it is not a cold hardware wallet. They even admit that a cold wallet, like that of Material Bitcoin and others, for example, is a better solution for storing your cryptocurrency. 

 

Cost Considerations – Cryptowallet.com’s Fees

As described by some users, CryptoWallet.com is commonly referred to as a “project”. 

We must admit, it is a very revolutionary concept as CryptoWallet.com is promoting and making the use of paying with crypto at a store common ground with crypto cards – similar to that of a debit or credit card – which allows you to make transactions on the spot, using your crypto without needing to transfer it first.

But, what are the fees associated with this kind of use and payment method? 

The cost for the web and mobile app is free. However, every time you wish to make a transaction, buy, sell, trade or use the CryptoWallet.com Card, a “service” fee is applied.

You are fully notified of the fee before accepting, with its digital calculator on the screen, however, it can fluctuate based on the market that day. 

card crypto wallet .com

 

Authenticity and Legitimacy – Is Crypto.com a Trustworthy Choice?

As mentioned before, CryptoWallet.com is a new and revolutionary concept for storing cryptocurrency. You can buy and sell over 800+ cryptocurrencies and is raved about online by users for the accessibility it gives to pay for goods in stores and online easily and quickly.

The company is registered within Estonia and is fully insured and licenced

The question of legitimacy is not whether or not CryptoWallet.com is a scam or not, but rather if it can be considered a crypto wallet at all!

The way we see it, it is a super cool way to use your crypto on a day-to-day basis, buying goods, like you would with a credit card, but no wallet is ever going to come close to security and safety like a cold wallet will in the long-term storage of your digital assets. 

 

Choosing Wisely – Which Crypto Wallet Suits You Best?

Before picking the right place to store and safeguard your crypto, you need to understand the different types of wallets available on the market for a variety of cryptocurrencies. 

You have Hot Wallets (software), which are linked to the internet and rely on that connection for keeping your investments. And, a Cold Wallet (Hardware), that is not connected to the internet and is therefore deemed safer. 

With the vast variety of options in the Hardware Wallet market, you can check out these comparisons of crypto wallets for further information. 

When picking the best crypto wallet for you, we suggest checking off these boxes:

  • Is the security of my crypto important to me?
  • Is it a hardware or software crypto wallet?
  • Is it user-friendly?
  • What are the fees?
  • What have other users said about it?

 

Weighing the Pros and Cons of CryptoWallet.com

✅Pros

✓ User-Friendly Interface: Many users like the intuitive design of Cryptowallet.com, making it accessible for beginners and experienced users. One user was very happy with the quickness and speed of making transactions. 

Diverse Currency Support: The platform supports a wide range of cryptocurrencies, offering flexibility for various trading and investment needs.

✓Mobile App Availability: The availability of a mobile app enhances convenience, allowing users to manage their assets on the go. As another user on TrustPiolet.com states, the app is “easy peasy!”

 

❌Cons

✗ Fee Structure: Some users find the fee structure a bit complex and higher compared to other wallets, especially for small transactions.

✗ Customer Support Concerns: There are reports of slow response times from customer support, which can be a significant drawback for users needing immediate assistance.

Complaints About Frozen Assets: Multiple users are angry with funds being frozen as security concerns are cited. As expressed by one user who could not access their funds after following all security set-up steps. 

✗ Long-term Safety: Many users and crypto investors share concerns about the “neo-bank” and what would happen to their investments if CryptoWallet.com were to go bankrupt. Raising the need for a Cold Hardware Wallet for storing seed phrases and assets as a must! 

reddit discussion cryptowallet.com

 

Material Bitcoin – Your Best Choice for Cold Hardware Wallets

material bitcoin recortada

Although there are many different crypto wallets available such as Ellipal Titan, Cypherock and Ledger, to name a few, Material Bitcoin stands out as the safest option for safeguarding your crypto in the long term.

Made out of durable, fire and waterproof, steel, Material Bitcoin offers a cold hardware wallet made for anyone who takes the security of their investments seriously!

Store Bitcoin, Ether and USDT in a trustworthy place, that no other wallet can provide…THE PALM OF YOUR HANDS!

With Material Bitcoin, your crypto and seed phrases are kept on the steel plate with you and only you are in charge of it. No third-party banks or sources can access your information or funds. 

You are in full control with this non-custodial wallet meant to last a lifetime.

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    Maral Hotoyan

    Maral Hotoyan

    As a content writer with a background in Journalism and Media Studies, Maral has got a knack for making even the trickiest topics easy to understand. These days, she's all about exploring the exciting world of investing and cryptocurrencies. Whether it's the latest crypto trend or a deep dive into investment strategies, she loves turning complicated concepts into stories everyone can enjoy.

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