Serum Wallet Choosing Guide

If you’re excited about acquiring some Serum (SRM), tokens, you should be! It means you’re now investing in the new digital economy and that’s an exciting fact for everyone. But now that you bought your SRM on an exchange, what’s next? Well, you’ll need a wallet and not just any old wallet. You should find the best Serum wallet possible. Thankfully, we made a handy guide to help you out. Let’s get started. 

Key talking points:

• Learn what an SRM wallet is and how they work
• Understand the main features of an SRM wallet
• Learn about SRM wallet security
• Compare different types of SRM wallets
• Discover what SRM wallets are best for you

What is a Serum wallet?

A Serum wallet is a software or hardware device that gives one access to the blockchain so they can manage their SRM tokens. Without a wallet, one cannot store, send, or receive SRM so it’s essential. Not all wallets are the same though. Some have advanced features like Yields accounts, lending, trading, exchange, and much more. 

How does a Serum wallet work?

Serum wallets work comes with a set of keys (a private key to access the wallet and a public key to share with the public). The public key helps other people send funds to you while the private key is what you need to access the funds in that wallet and interact with the blockchain. Some wallets have additional security features like pin-codes, fingerprint recognition, 2FA, and even 3FA. This is all to ensure the rightful owner is the only one that can access their crypto. 

Main features you need in a Serum Wallet

When researching your Serum wallet, make sure it comes with the following features:

• Security and privacy
• Low or custom SRM transaction fees
• Two-factor authentication (2FA)
• Fiat onramps and offramps
• Low minimum deposit amount
• The ability to lock and unlock withdrawals at will
• Complete crypto exchange capabilities
• Customer support
• Multi-chain support
• Multisig
• Bonus features like Yields accounts, trading tools, and loans. 

Do I need a Serum Wallet to Buy or Trade SRM?

Back in the day, people used to keep their Yields under mattresses. Maybe some of you out there still do. However, this is cryptocurrency. You can’t keep your digital coins under the mattress. You need a Serum wallet. Whether you want to buy or trade SRM or simply HODL it, there is no escaping the fact that you need a high-quality crypto wallet. So YouHodler can help!

Are all Serum wallets secure?

Sadly, no. Security is always a risk in cryptocurrency. That’s the bad news. The good news is you can do something about it. By researching the team behind your wallet and their reputation, you can ensure they won’t be running away with your hard-earned crypto anytime soon. On top of that, you can research each wallet’s security features like 2FA, 3FA, and more. It’s on you to do the homework on your wallet of choice. Don’t let yourself down!

Are all Serum Wallets Free? How Much Does It Cost to Use a Serum Wallet?

No. Not all Serum wallets are free. It should not cost anything to use a Serum wallet though. AT YouHodler we don’t charge anything for users to sign up and use a Serum wallet or any wallet for that matter. The only fees you have for HODLing on YouHodler are the blockchain fees when depositing and withdrawing and that’s it! YouHodler believes crypto should be for everyone and we’re sticking with that. 

How to deposit and withdraw from Serum Wallet

The SRM wallets on YouHodler are extremely easy to use. Whether you want to deposit SRM or withdraw SRM, we have the instructions laid out for you. So just follow them step by step and there should be no problems. If there are, however, please contact our support team and we’ll walk you through the process. 

Types and differences of Serum wallets - How to choose the right one for you?

Serum wallets come in all sorts of lovely shapes and sizes. So finding the best one for you should be a relatively easy task. Here are a few different types you can explore. 

Desktop SRM wallet

As its name suggests, a desktop SRM wallet is one that’s installed on a desktop computer or a laptop. Users get complete control over the wallet just as they would with a mobile wallet, just in a desktop environment. The main difference is that some desktop wallets have more advanced functionality like the ability to operate a complete node or full crypto exchange integration. 

Mobile SRM wallet

More or less, a mobile SRM wallet performs the same functions as a desktop wallet but on a mobile device such as a smartphone. Mobile SRM wallets are often more convenient due to their portable nature and the ability to scan QR codes for quick crypto transactions in stores or between peers. There are SRM wallets for all types of operating systems like Android or iOS. 

Web SRM wallet

Web SRM wallets are wallets that exist on a website or online service that allow users to send and receive cryptocurrency in addition to storing it. These wallets can be accessed anytime, and anywhere as long as there is the internet. Some of the most popular crypto services in the world are web wallets such as Coinbase, Kraken, Binance, and YouHodler. Security is a concern for web wallets but that can be managed with due diligence to make sure the web wallet you choose has a good history of high-level security and insurance. It’s also wise to use web wallets in tandem with the more secure hardware wallets. 

The Best Serum Wallets

There are numerous articles out there dissecting different crypto wallets, trying to decide what is the “best Serum wallet.” To be honest, there is no “best SRM wallet” for us as a collective whole. However, there is a Serum wallet that is best for you and that depends on your wants and needs. At YouHodler, we tried our best to create a diverse, multi-faceted wallet that appeals to all sectors of the crypto industry. Is our wallet the best Serum wallet? Give it a try and find out!

Best Serum Wallet for Beginners

When asking what the best Serum wallet for beginners is, it’s important to first dissect what a beginner demands from a Serum wallet. Most importantly, is a user-friendly interface. Beginners who are new to crypto are taking in tons of information every day and they don’t need a complicated app on top of that to learn. Clean, simple interfaces are best for beginners with minimal navigation required. That’s why we designed YouHodler’s interface to appease beginner users with simple designs, clear buttons, and plenty of information databases to dig into. 

Best Serum Wallet For Advanced Serum Users & Investors

Advanced Serum users and investors also appreciate clean simple interfaces on their Serum wallet; however, they also want something flexible enough that meets their high demands. Advanced crypto traders want a wallet with low transaction fees, built-in crypto exchange capabilities, advanced security, staking features, and advanced financial services like loans and crypto trading. Advanced users are busy people and they can’t be bothered using multiple apps for different activities. That’s why we designed YouHodler to be the true one-stop-shop solution for advanced users with a wide array of FinTech services to fit their every need. 

Best Serum Wallet for Mobile Users

We live in a mobile world and that’s only going to increase. Hence, mobile Serum wallets are perhaps the most important wallets in development. There are thousands to choose from and the key is to find one with maximum efficiency and security. YouHodler’s mobile wallet has 2FA, 3FA, and the ability to lock your funds from withdrawal--requiring ID verification to unlock it. On top of that, the team runs regular security audits to ensure all wallets are secure from malicious actors.  People ``on the go” in a mobile economy, want to make sure their digital wallets are present, protected, and easy to use. Not all Serum wallets match this quality but YouHodler tries its best to. 

Best Serum Hardware Wallet

As mentioned earlier, it’s a smart idea to buy a Serum hardware wallet to use in cooperation with your mobile or web wallets. Serum hardware wallets are ideal for the long-term storage of crypto assets. Ideally, you want to keep some on a mobile or web wallet for payments, trading, and staking while keeping the rest safely in a secure hardware wallet. The Ledger series of hardware wallets are extremely popular and recommended by most advanced crypto users. Trezor is another brand worth mentioning. 

Best Serum Wallet for software storage

Once again, this comes down to the idea of “not your keys, not your crypto.” The best Serum wallet for long-term software storage are wallets where you fully own the private keys. It’s best to use this in combination with more diverse web wallets to enjoy the benefits of both worlds. 

Best Serum Wallet For Security

The best Serum wallets for security are the ones that prioritize security. Stay away from wallets that don’t have PIN options, 2FA, or basic security features. YouHodler has a PIN or thumbprint required to enter the app in addition to 2FA and 3FA upon request. We also run regular security audits to ensure our walls are strong and impenetrable. Lastly, we are backed by Ledger Vault and Fire Blocks for insurance and secure crypto transaction management solutions.

Best Serum Wallet for Android Users

While the battle between iPhones and Android phones wages on, it’s nice to know that crypto doesn’t pick sides. Most--if not all--of the most popular Serum wallets can be found on both Android and iOS operating systems. 

Click here to download YouHodler for Android. 

Best Serum Wallet for iOS Users

We’re also at the Apple store too! Click here to download YouHodler for iOS and ready all about our Serum wallet functionalities for your iPhone.