Cryptocurrency wallets are an essential part of the crypto ecosystem. Regardless of the type of wallet, it serves as a gateway to all the things one can do with their digital assets, such as using them in dApps, buying NFTs or traditional products and services, or trading on cryptocurrency exchanges.
Hello! I’m Zifa, a long-time crypto enthusiast and writer. In this article, I’ll guide you through the best crypto wallets, discussing their advantages and drawbacks to help you make an informed choice in the dynamic world of cryptocurrency. Let’s dive in and explore together!
And if you have already found your own best crypto wallet and want to use it, you can exchange cryptocurrencies like Ethereum or Bitcoin on Changelly, benefiting from low fees and great rates.
Top Picks for the Best Crypto Wallet: a Quick Glance
Here are the custodial and non-custodial wallets that I consider to be the best on the market, having tried them in the past.
- MetaMask: The best Ethereum wallet
- Exodus: Overall best cryptocurrency wallet
- Coinbase Wallet: The best crypto wallet for beginners
- ZenGo: The most secure crypto wallet
- LedgerNano X: The best cold storage wallet for beginners
- Trezor Model T: The best Bitcoin hardware wallet
- MyEtherWallet: The best crypto wallet app for ETH
- BCVault: The most secure crypto hardware wallet
- Enjin: The best crypto wallet for NFTs
- Edge: The easiest-to-use mobile wallet
- Coinomi: The best Bitcoin hot wallet
Compare the Best Cryptocurrency Wallets
| Name | Type | Price | Supported Currencies |
|---|---|---|---|
| MetaMask | Software | Free | Ethereum and all ERC-20 tokens |
| Exodus | Software | Free | Over 260 cryptocurrencies |
| Coinbase Wallet | Mobile | Free | Bitcoin, Ethereum, and thousands of different cryptocurrencies |
| ZenGo | Mobile | Free | Bitcoin, Ethereum, Binance Coin, and 120+ other crypto assets |
| LedgerNano X | Hardware | $149 | Over 1,800 cryptocurrencies |
| Trezor Model T | Hardware | $219 | Over 1,600 cryptocurrencies |
| MyEtherWallet | Software | Free | Ethereum and all ERC-20 tokens |
| BCVault | Hardware | $149+ | Bitcoin, Ethereum, Ripple, Litecoin, and 2,000 others |
| Enjin | Mobile | Free | Bitcoin, Ethereum, Litecoin, Binance Coin, Enjin, ERC-20, ERC-721, and ERC-1155 tokens |
| Edge | Mobile | Free | Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Monero, and many more |
| Coinomi | Mobile/Desktop | Free | Supports over 1,770 assets, including Bitcoin, Ethereum, and altcoins |
12 Best Crypto Wallets
For this guide on the top crypto wallets to use in 2024, I carefully picked out 12 of the best options after extensive research. My focus was on the safety and ease of use of these wallets.
Security is key, so I looked into how well each wallet protects your crypto, including their safety features and how they handle private keys. I also checked their user-friendliness, considering factors such as ease of navigation and the kind of support they provide. Additionally, I analyzed extensive user reviews on platforms like Trustpilot to gauge real-world experiences and opinions. This comprehensive approach ensures that the final list emphasizes both secure and user-friendly wallets.
Now, here are 12 of the best cryptocurrency wallets available right now.
MetaMask: The best Ethereum wallet
- Type: Software wallet (hot wallet)
- Price: Free
- Supported Cryptocurrencies: Ethereum and all ERC-20 tokens
- Website: metamask.io
MetaMask is one of the most popular Ethereum wallets and is often referred to as a gateway to the world of decentralized apps (dApps). It is a browser extension, integrated into your online experience, providing easy access to dApps on the Ethereum blockchain network.
Despite being a software wallet, MetaMask offers robust security features, including seed phrase backups and password encryption. However, as with all hot wallets, MetaMask is still vulnerable to online attacks. For significant amounts of crypto or for enhanced security, a hardware wallet (a cold wallet) might be a better fit.
Exodus: Overall best cryptocurrency wallet
- Type: Software wallet (hot wallet)
- Price: Free
- Supported Cryptocurrencies: Over 260 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin
- Website: exodus.com
Exodus is a user-friendly software wallet that is perfect for beginners. It has a beautiful and intuitive interface that visualizes your crypto portfolio, making it one of the easiest-to-use Bitcoin wallets.
Exodus supports a wide range of cryptocurrencies and also offers a built-in crypto exchange for seamless trading. While it encrypts your private keys and transaction data, it doesn’t offer two-factor authentication (2FA), which you might want to consider for enhanced security.
Coinbase Wallet: The best crypto wallet for beginners
- Type: Mobile wallet (hot wallet)
- Price: Free
- Supported Cryptocurrencies: Bitcoin, Ethereum, and thousands of different cryptocurrencies
- Website: coinbase.com/wallet
Coinbase Wallet is a stand-alone app separate from the Coinbase exchange. It allows users to store their cryptocurrencies and explore the world of decentralized apps (dApps). With its user-friendly interface, it’s an excellent option for beginners and seasoned crypto enthusiasts alike.
The Coinbase Wallet provides you with full control over your private keys, secured using Secure Enclave and biometric authentication technology. It also features a decentralized exchange, allowing you to maintain control over your funds while trading. As a hot wallet, it is still more susceptible to online attacks than cold wallets, but its security features make it one of the safer hot wallets available.
ZenGo: The most secure crypto wallet
- Type: Mobile wallet (hot wallet)
- Price: Free
- Supported Cryptocurrencies: Bitcoin, Ethereum, Binance Coin, and 120+ other crypto assets
- Website: zengo.com
ZenGo is a pioneering mobile wallet that offers an innovative keyless security infrastructure, eliminating the most common cause of crypto theft—key loss. Despite being a hot wallet, ZenGo uniquely blends user-friendliness and advanced security.
ZenGo uses facial biometrics and your mobile device for account recovery, making it one of the safest crypto wallets among mobile-based options. However, like other hot wallets, it is still more susceptible to online threats compared to hardware or cold storage wallets.
Ledger Nano X and Ledger Nano S Plus: Best crypto hardware wallet for beginners
- Type: Hardware wallet (cold wallet)
- Price: Ledger Nano X – $149, Ledger Nano S Plus – $79
- Supported Cryptocurrencies: Over 1,800 cryptocurrencies
- Website: ledger.com
Ledger Nano X provides the safety of cold storage combined with the convenience of a hot wallet through Ledger Live. With the capacity to hold a high number of different cryptocurrencies, it’s a worthy contender for the safest crypto wallet title.
Nano X connects to your device via Bluetooth, allowing you to send and receive cryptocurrencies even while on the go. It’s the more expensive sibling of Ledger Nano S Plus, which doesn’t offer Bluetooth connectivity but still provides top-tier security at a lower price point. Both Ledger devices excel in security, storing your private keys offline to ensure your crypto stays safe.
Trezor Model T and Trezor One: The best Bitcoin hardware wallet
- Type: Hardware wallet (cold wallet)
- Price: Trezor Model T – $219, Trezor One – $69
- Supported Cryptocurrencies: Over 1,600 cryptocurrencies
- Website: trezor.io
The Trezor Model T is a premium hardware crypto wallet supporting a vast array of cryptocurrencies. Its advanced features, like the touchscreen and support for more crypto coins, make it stand out. The Trezor Model T includes a handy touch screen, making it easier to manage your coins. Its younger sibling, the Trezor One, provides the same high level of security at a more affordable price.
Both Trezor models provide offline storage, ensuring your private keys never leave the device, offering you the best form of crypto security—cold storage.
MyEtherWallet: The best hot crypto wallet for ETH
- Type: Software crypto wallet (hot wallet)
- Price: Free
- Supported Cryptocurrencies: Ethereum and all ERC-20 tokens
- Website: myetherwallet.com
MyEtherWallet (MEW) is a free, open-source hot wallet that focuses on Ethereum and ERC-20 tokens. You can create a wallet in minutes and interact with the Ethereum blockchain for services like swaps and purchases. Though it’s a hot wallet, it’s one of the safer web-based options out there. MEW lets you connect a hardware wallet, allowing you to keep your keys in a secure, offline environment while still enjoying the user-friendly interface of MEW. Even though MEW offers a balance of convenience and security, as with all hot wallets, you should be aware of online threats and consider using a hardware wallet for large holdings.
BCVault: The most secure crypto hardware wallet
- Type: Hardware wallet (cold wallet)
- Price: $149+
- Supported Cryptocurrencies: Bitcoin, Ethereum, Ripple, Litecoin, and 2,000 others
- Website: bc-vault.com
BCVault is a hardware wallet that differentiates itself by using encrypted storage instead of a recovery phrase. It allows you to securely manage over 2,000 cryptocurrencies, with every wallet encrypted separately.
The crypto wallet features a random number generator for private keys, making it even harder to hack. The device can also act as a U2F (Universal 2nd Factor) hardware token, granting an additional layer of security. However, this hardware wallet is more expensive than many others on the market. Its unique features make it a strong contender for the title of the safest crypto wallet, but its price may not make it the best choice for beginners.
Enjin: The best crypto wallet for NFTs
- Type: Mobile wallet (hot wallet)
- Price: Free
- Supported Cryptocurrencies: Bitcoin; Ethereum; Litecoin; Binance Coin; Enjin; ERC-20, ERC-721, and ERC-1155 tokens
- Website: enjin.io/products/wallet
Enjin is a mobile cryptocurrency wallet known for its security, privacy, and clean user interface. The Enjin wallet excels in storing a variety of cryptocurrencies and digital assets, including collectibles or NFTs (non-fungible tokens).
Enjin is one of the best Bitcoin wallets for mobile users, offering robust security features like hardware-level security (Enjin Secure Keyboard), two-factor authentication, and fingerprint login. While it provides secure hot storage for your assets, remember it’s not as safe as cold storage. Hence, for storing large amounts of cryptocurrencies, you might want to consider a hardware wallet.
Edge: The easiest-to-use mobile wallet
- Type: Mobile wallet (hot wallet)
- Price: Free
- Supported Cryptocurrencies: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Monero, and many more
- Website: edge.app
Edge is a user-friendly mobile wallet renowned for its robust security measures and excellent user interface. Formerly known as Airbitz, Edge supports several popular cryptocurrencies, making it an ideal Bitcoin wallet for users with diverse portfolios.
Edge features client-side encryption, meaning your personal information, transaction data, and crypto assets are kept secure on your device. The wallet also offers two-factor authentication for an extra layer of protection. Despite being a hot wallet, Edge implements remarkable security features. However, remember that cold storage wallets are the safest for holding large amounts of cryptocurrencies.
Coinomi: The best Bitcoin hot wallet
- Type: Mobile/Desktop crypto wallet (hot wallet)
- Price: Free
- Supported Cryptocurrencies: Supports over 1,770 assets, including Bitcoin, Ethereum, and altcoins
- Website: coinomi.com
Coinomi is a well-established cryptocurrency wallet available on multiple platforms. Known for its versatility, it supports a vast range of cryptocurrencies and allows for the seamless exchange of assets within the app.
For a hot wallet, Coinomi provides robust security features, including strong encryption and IP masking. It is one of the few wallets that allow users to handle private keys. Besides, Coinomi gives you the option to set custom transaction fees. While Coinomi boasts top-notch security for a hot wallet, it’s crucial to remember that hardware wallets, which provide cold storage, have the best security for large amounts of cryptocurrencies.
How to Choose the Best Crypto Wallet
Entering the world of cryptocurrency involves critical decisions, and choosing an appropriate crypto wallet is certainly one of them. A crypto wallet is a key digital tool for securely storing and managing cryptocurrencies while navigating the crypto space. With a variety of wallet types available, from hardware wallets to mobile and desktop wallets, the choice can be overwhelming. This guide explores essential factors and considerations in selecting a crypto wallet, including wallet types, security features, user-friendliness, and other important aspects to help you make an informed decision. The right choice is crucial for the safety and accessibility of your digital assets, ensuring your crypto transactions and holdings are well-managed.
Security: The Foundation of Crypto Wallets
Security is paramount in the world of cryptocurrencies. To protect against cyber attacks and ensure the safety of your assets, look for these key security features in a crypto wallet:
- Private Key Control: Opt for a wallet that allows you full control over your private keys, giving you complete authority over your cryptocurrencies.
- Two-Factor Authentication (2FA): This security measure adds an extra layer beyond your password, requiring confirmation through a code sent to a personal device like your phone or via email.
- Recovery Option: A recovery option, such as recovery phrases or backup solutions, is essential in case you lose your device or forget your password.
- Adherence to Security Protocols: A robust wallet follows stringent security protocols, including end-to-end encryption, multi-signature support, and regular software updates, safeguarding your wallet’s private keys.
Understanding Fees in Crypto Wallets
Various fees are associated with blockchain transactions and the maintenance of wallets. These include:
- Blockchain Transaction Fees: These fees vary based on network congestion and the transaction’s size.
- Hot Wallet Fees: Wallets like Exodus may include fees dependent on the provider and the transaction type.
- Cold Wallet Costs: Physical hardware wallets often have an initial purchase cost, varying by brand and features. Additional costs can include transfer fees and expenses for software updates or repairs.
Hot Wallets vs. Cold Wallets: A Comparative Perspective
Hot wallets and cold wallets serve the same purpose but differ significantly in terms of security, accessibility, and cost. Hot wallets, including software crypto wallets and online wallet options, are digital and internet-connected, offering convenience and ease of access but less security. In contrast, cold wallets are physical, offline devices providing higher security levels but less convenience. Hot wallets often come free or at a low cost, making them a popular choice, whereas cold wallets require an initial investment in a hardware device.
Ease of Use: The Hot Wallet Advantage
Hot wallets are typically more user-friendly than cold wallets due to their digital nature and accessibility. They are available through various platforms, including browser extensions, mobile apps, and computer software, making them an excellent choice in the crypto market for individuals who need frequent and easy access to their digital assets.
Trading Volume: A Critical Consideration
When planning your trading activities, consider the wallet’s support for various digital assets and any restrictions on trading volume or frequency. For substantial trading volumes, a cold wallet, such as a hardware wallet from a reputable provider, might be preferable due to its enhanced security features.
Diversity in Cryptocurrency Support
Modern wallets like Exodus, Coinomi, and Jaxx support a broad range of cryptocurrencies. When choosing a wallet, pay attention to the number of cryptocurrencies it works with to ensure you can conveniently manage and store various assets, including crypto tokens, in one place.
Customer Support: An Essential Aspect
The level of customer support for crypto users varies among wallet providers. Beginners and experienced users alike can benefit from robust customer support, including live chat, email, and sometimes phone assistance. Therefore, when selecting a wallet for further cryptocurrency management, consider the customer support level as a key factor in ensuring a smooth and secure user experience.
Types of Crypto Wallets
There are 3 main types of crypto wallets you can choose from, depending on your specific needs, trading habits, and desired level of security.
- Hot Wallets: These wallets require an internet connection to operate, including online wallets (accessed via a web browser), mobile wallets (smartphone apps), and desktop wallets (software wallets installed on your computer). Hot wallets are easy to use, facilitate quick transactions, and are suitable for beginners.
- Cold Wallets: Cold wallets, also known as hardware wallets, store your cryptocurrencies offline, making them less prone to hacks. They are highly secure, ideal for large holdings, and suitable for long-term storage.
- Paper Wallets: Paper wallets involve printing out your public and private keys on a piece of paper, which is then stored in a secure place. They are safe from online hacks and cost-effective but can be easily lost or damaged and are not user-friendly.
Choosing the Best Crypto Wallet: Frequently Asked Questions
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What is the most private crypto wallet?
The ZenGo wallet is regarded as one of the most private crypto wallets available today. It eliminates the need for a single private key through its keyless wallet technology, reducing the risk associated with key loss or theft. ZenGo also prioritizes user privacy and security by utilizing biometric security measures like facial recognition. -
How safe is MetaMask?
MetaMask is considered highly safe for storing cryptocurrencies due to its robust security measures and the user’s control over private keys. It encrypts users’ information and assets, minimizing the risk of unauthorized access. MetaMask has maintained a strong security record without falling victim to major hacks, making it a trusted and safe choice for cryptocurrency storage and transactions. -
What kind of crypto wallet is best?
The ideal crypto wallet depends on your specific needs. Cold wallets, such as hardware wallets, are generally safer due to their offline storage capabilities. However, hot wallets, such as software wallets, provide convenience and ease of access. For optimal balance, consider combining hot and cold wallets for different use cases. -
Why do you need a crypto wallet?
A crypto wallet is essential for safely storing and managing digital currencies and keeping track of cryptocurrency investments. It protects private keys, which are necessary for accessing and transacting with cryptocurrencies. -
Which crypto wallet is safest?
Cold wallets, which include hardware wallets, are generally considered the safest due to their offline storage capabilities. Trezor, with its online web wallet and downloadable desktop app, is often recognized as one of the safest options. Among hot wallets, the Coinbase wallet is notable for its user-friendly interface and security features.
Please note that the contents of this article are not financial or investing advice. The information provided is the author’s opinion only and should not be considered as offering trading or investing recommendations. Always research multiple viewpoints and be familiar with local regulations before committing to an investment.
Conclusion
Choosing the right crypto wallet is crucial for safely storing and managing your digital assets. Consider factors such as security, ease of use, fees, wallet type (hot or cold), and customer support when making your decision. The wallets mentioned in this article, such as MetaMask, Exodus, Coinbase Wallet, ZenGo, Ledger Nano X, Trezor Model T, MyEtherWallet, BCVault, Enjin, Edge, and Coinomi, are among the best options available in the crypto world. Evaluate your needs and preferences to find the perfect wallet that suits your requirements. Happy crypto wallet shopping!
FAQs
Q: What is the most private crypto wallet?
A: ZenGo is considered one of the most private crypto wallets due to its keyless wallet technology and advanced security measures.
Q: How safe is MetaMask?
A: MetaMask is highly safe, offering robust security features and user control over private keys.
Q: What kind of crypto wallet is best?
A: The best crypto wallet depends on individual needs. Cold wallets, such as hardware wallets, provide enhanced security, while hot wallets, such as software wallets, offer convenience.
Q: Why do you need a crypto wallet?
A: A crypto wallet is necessary for securely storing and managing digital currencies and tracking cryptocurrency investments.
Q: Which crypto wallet is safest?
A: Cold wallets, like hardware wallets, are generally considered safer. Trezor is recognized as one of the safest options. Among hot wallets, the Coinbase wallet stands out for its user-friendly interface and security features.