Crypto wallets are very popular right now because the market is looking positive. If you have crypto assets, you might need a crypto wallet to store them.
But, if you searched for “Best crypto wallets,” you probably encountered quite a few articles with sponsored links.
We’re not saying you should ignore these articles, but they usually have a hidden motive.Basically, If you buy through their links, they get paid. Thus, it’s likely they only consider wallets with affiliate links and promote them.
Now, if you’re looking for an unbiased review with ZERO affiliate links or sponsored posts, here it is.
The ultimate list of crypto wallets you should consider if you want a damn good crypto wallet.
So, let’s get started.
Why have a crypto wallet in the first place?
Cryptocurrency wallets protect private information and control digital assets. If you lose these “private keys,” you can’t get back your cryptocurrency. This shows how important it is to keep your keys safe.
Lots of people who like cryptocurrency prefer non-custodial wallets because they help manage private data. Unlike storing assets on exchanges, non-custodial wallets secure private keys without third parties. FTX and BlockFi’s failures show the risks of depending on others with digital assets.
Non-custodial wallets still have risks, though. If you forget your password, it’s harder to fix. You have to trust the wallet’s hardware and software. So if you forgot your password, well, say farewell to your crypto assets.
Moving assets between wallets can be costly due to transaction fees from blockchain networks. Some people like to have separate wallets for saving money and for buying and selling.
How to choose a good crypto wallet?
When choosing a non-custodial wallet, the main thing to decide is whether you want a hot or cold wallet. These terms are new, but the main difference is how they connect to the internet.
A hot wallet operates on a device linked to the internet. Often free, these wallets offer additional services like trading or staking for a fee. You can use them for simple online transactions, but hackers might be able to access your assets.
A cold wallet resides on a device disconnected from the internet. These usually cost money because you need to buy special hardware to keep your crypto safe. Their offline nature makes them less accessible to unauthorized users. Losing the device could make it difficult to get back your crypto assets.If you lose it, it’s gone.
Top 3 best hot wallets
In the market, there are hot wallets for different cryptocurrencies. Some of these wallets can handle various NFTs and connect to exchanges. This makes it easier to buy and sell cryptocurrency or other assets.
Critical distinctions among hot wallets are:
Asset Variety: The extent of digital assets supported.
Offline transfers: This makes it easy to shift crypto into a cold wallet.
Staking/DeFi: Availability of resources for in-app staking or rewards programs.
1. Metamask wallet
If you use Ethereum applications a lot, you probably know about MetaMask. MetaMask is a top pick because it’s easy to use and lets you access lots of tokens and apps on the Ethereum network.
It’s also super popular, with over 30 million people using it every month. Metamask is also great for beginners who want to deal with Ethereum coins and use apps.
Besides, MetaMask isn’t for Ethereum – it also works with other blockchain systems. You can add almost any blockchain network to it. It supports networks like Polygon, BNB Chain, and Avalanche. Plus, you can use it to check out cool stuff like NFTs on places like OpenSea.
You can get MetaMask as an extension for Chrome, Edge, Firefox, or Brave browsers. It’s also available as an app for Android and Apple phones.
Pros:
- Available in mobile and browser-based versions
- Easy token staking through web-connected apps linked to MetaMask
- Integrates with various “Web3” applications
- Free, open-source tool
Cons:
- Lacks dedicated desktop application
- No staking within the app
To note:
Asset Variety: More than 1200
Ease of Offline Transfers: Yes
Staking/DeFi: Only through connected apps
2. Trust wallet
Trust Wallet is the next top choice for a mobile crypto wallet. It has an interface and supports dApps and NFTs. It also supports the largest range of assets among our selections.
Trust Wallet is a popular mobile crypto wallet. It is the official app of Binance, the biggest cryptocurrency exchange to date. However, this wallet works independently from Binance so it does not act like a custodial wallet. It doesn’t keep your private keys. Users must still keep them safe.
The wallet supports over 70 blockchains and can store more than 4.5 million coins and tokens. It has the most extensive range of digital assets among the wallets we’ve assessed.
Trust Wallet caters to NFT and dApp enthusiasts on mobile platforms. Within the app, users can use the built-in Web3 browser to access dApps and blockchain games. This feature makes it easy to buy NFTs, browse, and store them in the app.
Pros:
- Built-in Web3 browser
- Simple interface
- Large number of assets supported
Cons:
- Owned by Binance which is a CEX and has faced regulatory issues in the past.
- Limited educational resources
To note:
Asset Variety: More than 1 million!
Ease of Offline Transfers: Yes, to Ledger using a browser extension
Staking/DeFi: Yes
3. Exodus wallet
Exodus is a popular wallet that lets users control their private keys and their wallet. It’s free and works on various devices: computers using Windows or Mac, and as an extension on Chrome.
It’s also an app for Android and iOS phones. This wallet can hold over 260 cryptocurrencies, such as Bitcoin, Ethereum, and Solana. It also supports Binance Smart Chain, Cardano, and Polygon. Users can even add other cryptocurrencies, which means it supports thousands of tokens.
This popular wallet offers some neat extras for both short and long-term investors. You can check the value of your cryptocurrencies in your own currency in real-time. There’s also a portfolio manager that shows how your investments are performing.
Exodus lets you connect to dApps and even lets you buy things using regular money. But to do this, you have to use a payment processor called Ramp, which might charge you up to 5.45% if you use a debit or credit card.
Pros:
- Simple interface
- Supports many network standards – Bitcoin, Ethereum, Solana, Cardano, Polygon
- You hold your own keys
- Can buy Bitcoin with Apple Pay
Cons:
- Limited security features
To note:
Asset Variety: More than 250
Ease of Offline Transfers: Yes.
Staking/DeFi: Yes
Top 3 best cold wallets
1. Ledger Nano S Plus
The Ledger Nano S Plus is our choice for a complete crypto hardware wallet. The Ledger Live app is excellent because it has many assets, strong security, and integrated trading.
Ledger is famous in the crypto world for its hardware wallets that enthusiasts adore. Their products stand out because they include a Secure Element component. This component is like the chips in passports and payment systems. It adds an extra layer of protection.
In April 2022, the Nano S wallet underwent an upgrade to become the Nano S Plus. The upgrade includes a better display, more storage, and a USB-C port. Ledger Nano S improvements have made it even better than the Ledger Nano X.
Pros:
- Has native staking
- NFT Support
- You can store more than 5500 assets.
- Has mobile app with Bluetooth
Cons:
- Not fully open source
2. Trezor Model T
The Trezor Model T is a new kind of hardware wallet that makes it easier to use third-party exchanges like Changelly and CoinSwitch. It’s different from the Ledger because of its internet interface.
The touch screen is user-friendly, making it easier for cryptocurrency beginners. The previous version used buttons. Besides, having a MicroSD card slot makes security better. It lets you encrypt your PIN and guards against cyber dangers.
The Shamir Backup is a special security feature. It helps create 16 shares. If there are device problems, you can use these shares to recover coins.
The incorporation of in-wallet exchanges proves to be an invaluable asset. You can use regular money to buy cryptocurrencies. You can also switch between different digital assets using the Trezor interface.
Additionally, the device has a QR button that makes it easy to see the QR code for the address. This allows senders to start transfers by scanning it.
Pros:
- Touch screen available
- Highly secured
Cons:
- No native staking
- No NFT management
- No mobile app
3. KeepKey wallet
KeepKey is a hardware wallet that looks like a pen drive. It keeps public and private keys secure offline. Additionally, it incorporates a backup seed phrase to safeguard against loss or damage.
The wallet makes it easy to trade different currencies on the ShapeShift platform. The software is open-source, so users can check its authenticity on GitHub.
The KeepKey hardware wallet emphasizes security. It has a customizable PIN code to prevent physical theft.
KeepKey is bigger than other popular crypto wallets, but it’s still easy to use. Setting it up and conducting digital asset transactions remain straightforward.
Pros:
- Big screen for less scrolling
- Integrated to ShapeShift exchange
Cons:
- Only 50 coins supported
- No NFT support
- No staking support
How to set up a crypto wallet?
Setting up a cryptocurrency wallet is a simple process that usually takes a few minutes. To start, decide between hot wallets and cold wallets. They have different setup methods.
Hot wallet
- Download the wallet: Ensure you’re getting the wallet from a legitimate source. There are many scams out there, so make sure the company behind the wallet is real. Before using web wallets, make sure you’re on the right website to prevent fake versions that steal your information.
- Set up your account and security: If you’re using a non-custodial wallet, you’ll receive your private key, a random string of 12 to 24 words. It’s crucial to keep these safe because losing them means losing access to your crypto. You can enhance security by enabling features like two-factor authentication and biometrics. Custodial wallets might need a Know-Your-Customer (KYC) verification process to confirm your identity.
- Add funds: To add funds to non-custodial wallets, you may have to transfer crypto from another source. Some wallets don’t allow direct buying with regular money. Before purchasing crypto, you usually have to fund custodial wallets with credit or debit cards.
Cold wallets
- Buy the wallet: To avoid problems, buy cold wallets from the developer’s store instead of third-party sellers.
- Install the software: Each cold wallet brand has its own software that must be installed on the hardware device. Make sure to download this software only from the official website of the company. Follow the provided instructions to set up your crypto wallet.
- Deposit your cryptocurrency: Transfer your cryptocurrency from a crypto exchange to your hardware wallet. Some cold wallets might include an exchange feature, allowing you to trade while connected to your computer or mobile device.
Crypto wallet FAQs
The “best” wallet depends on your needs. When choosing, think about security, ease of use, and whether you like online or offline storage. Popular options include Ledger, Trezor, MetaMask, and Trust Wallet.
You can get a crypto wallet in a few different ways. One way is by downloading an app like Trust Wallet. Another way is by creating an account on a platform like Coinbase. You can also buy a hardware wallet like Ledger Nano S from authorized retailers.
A fiat wallet holds regular money, like dollars or euros, and lets you buy cryptocurrencies with it. It’s usually integrated into platforms or exchanges that help crypto transactions.
Choose a wallet based on your preferences and needs. When choosing a wallet, think about how safe it is, how easy it is to use, what cryptocurrencies it supports, and what storage options it offers.
Ledger and Trezor are hardware wallets that are very secure. They store data offline and use strong encryption. Paper wallets and certain software wallets, such as MetaMask, are also considered safe. They store keys offline and have strong security features. Always focus on protecting your private keys or seed phrases for enhanced safety.