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0x Wallet Choosing Guide

0x Wallet Choosing Guide

As an ERC20 token, ZRX, the native token of the 0x protocol has a plethora of wonderful wallets one can choose for storing, sending, and receiving 0x tokens. But just like those times when you can’t decide what to eat at a restaurant because it has a menu longer than the Bible, having more wallets doesn’t necessarily make it an easy decision. Hence, we put together a quick 0x wallet choosing guide to help you learn what a crypto wallet is and what features matter most. Before we dig in, here are a few key talking points to go over. 

Key talking points:

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

What is an 0x wallet?

An 0x wallet is an Ethereum based wallet that enables users to hold 0x, in addition, to transact with it. The type of features coming with an 0x wallet is not universal. Nor is the design. So make sure you do your research to see which 0x wallet is best for you. 

How does an 0x wallet work?

0x wallets work just as any Ethereum wallets do. Depending on whether it’s a public or private wallet, the users need to have access to the wallet’s private keys in order to interact with the Ethereum blockchain. The wallet itself is more of just an interface that helps the user interact with the blockchain to buy, sell, or HODL 0x. 

Main features you need in an 0x Wallet

When researching your 0x wallet, make sure it comes with the following features:

  • Security and privacy
  • Low or custom ZRX 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 savings accounts, trading tools, and loans. 

Do I need an 0x Wallet to Buy or Trade ZRX?

The short answer here is “yes.” If you buy ZRX on a crypto exchange, then that exchange will have a built-in ZRX wallet for you to hold ZRX until you decide to trade it or withdraw it. Even if you manage to buy ZRX with cash from your friend, you still need a wallet to store 0x.

Are all ZRX wallets secure?

Unfortunately not. Some wallets are built by criminals. These wallets have backdoors for hackers to easily steal your private keys and take off with your money. Other wallets are just built by bad developers who leave vulnerabilities in the wallet unbeknownst to them. Then, you have perfectly well-made wallets that just happen to lack high-quality security features like 2FA, security audits, etc. That being said, there are plenty of secure ZRX wallets out there so don’t be afraid. Some wallets even come with insurance to protect your funds in the event of a bad event (e.g. like YouHodler wallets for example).

Are all ZRX Wallets Free? How Much Does It Cost to Use an 0x  Wallet?

Any good 0x wallet should be free. If someone is trying to sell you an 0x wallet, be careful. All the best wallets out there are 100% free. It doesn’t cost anything to use an 0x wallet aside from the blockchain fees associated with every transaction. Some wallets choose to cover those fees for you while others let you choose the fee (higher fees result in faster transaction time).

How to deposit and withdraw from 0x Wallet

The crypto industry has come a long way over the years. Nowadays, 0x wallet apps are so user-friendly, anyone can figure it out. To deposit or withdraw 0x using your wallet, just open up your app and find 0x in the wallet section. You should then see buttons to deposit or withdraw 0x. Simply choose an option and follow the instructions. If you want to deposit, a deposit address will be provided. Just copy and paste that address so the person sending your 0x can do so. If you are withdrawing 0x, then you need to copy and paste the address from the wallet on the receiving end of the transaction so you can send the 0x there. 

Types and differences of 0x wallets - How to choose the right one for you?

0x 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 ZRX wallet

As its name suggests, a desktop ZRX 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 ZRX wallet

More or less, a mobile ZRX wallet performs the same functions as a desktop wallet but on a mobile device such as a smartphone. Mobile ZRX 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 ZRX wallets for all types of operating systems like Android or iOS. 

Web ZRX wallet

Web ZRX 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 0x Wallets

There are countless articles out there dissecting different crypto wallets, trying to decide what is the “best 0x wallet.” To be honest, there is no “best ZRX wallet” for us as a collective whole. However, there is an 0x 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 0x wallet? Well, that’s for you to decide. 

Best 0xWallet for Beginners

When asking what the best 0x wallet for beginners is, it’s important to first dissect what a beginner demands from an 0x 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 0x Wallet For Advanced 0x Users & Investors

Advanced 0x users and investors also appreciate clean simple interfaces on their 0x 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 0x Wallet  for Mobile Users

Data suggests there will be over 18 billion mobile devices in use around the world by the year 2025. Suffice to say, we live in a mobile world and that’s only going to increase. Hence, mobile 0x 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. For people ``on the go” in a mobile economy, want to make sure their digital wallets are present, protected, and easy to use. Not all 0x wallets match this quality but YouHodler tries its best to. 

Best 0x Hardware Wallet

As mentioned earlier, it’s a smart idea to buy an 0x hardware wallet to use in cooperation with your mobile or web wallets. 0x 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 0x Wallet for software storage

Once again, this comes down to the idea of “not your keys, not your crypto.” The best 0x 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 0x Wallet For Security

The best 0x 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 Fireblocks for insurance and secure crypto transaction management solutions.

Best 0x 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 0x wallets can be found on both Android and iOS operating systems. 

Click here to download YouHodler for Android. 

Best 0x Wallet for iOS Users

We’re also at the Apple store too! Click here to download YouHodler for iOS and ready all about our 0x wallet functionalities for your iPhone. 

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