11 Best Crypto Wallets – How to store, protect & use your cryptocurrencies

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Best Cryptocurrency Wallets

The best cryptocurrency wallets are essential for storing, securing, and managing your crypto investments. Here is the list of the 11 best crypto wallets for you to help you choose the best cryptocurrency wallet for yourself. 

Best crypto wallets for your cryptocurrencies

1. Ledger Nano X

Ledger Nano X easily tops the list of the best crypto wallets because of multiple good reasons. It is the smartest wallet to buy, secure, exchange, and grow your cryptocurrency investments. Ledger Nano X is a remarkable product that promises not only ultimate security but also simplicity, mobility, staking, and no limit.

  • Ledger Nano X provides the ultimate security to keep your private key completely safe. 
  • You can manage more than 1800 coins and tokens including Bitcoin and Ethereum through a single device. 
  • Ledger Live mobile application ensures the management and growth of your cryptocurrencies through speed, precision, and simplicity. 
  • Ledger Nano X also gives you the freedom to manage your cryptocurrencies on the go. You can connect Nano X with your smartphone through Bluetooth and enjoy a unique experience. 
  • Ledger Live feature empowers you to grow your cryptocurrency assets by staking your Ethereum, Polkadot, Algorand, Cosmos, Tron, and Tezos directly in Ledger Live. 

2. Exodus

Exodus brings a totally new experience as far as cryptocurrency control and management is concerned. It brings desktop, mobile, and hardware cryptocurrency wallets to give you multiple options for protecting your crypto assets. The platform also ensures human customers support 24/7. You can also learn and stay updated through a remarkable knowledge base, videos library, blog, and newsletter. Exodus books its place in the list of the best cryptocurrency wallets for innovation, protection, and educational content. 

  • Exodus gives you the choice and freedom to buy and exchange 100+ cryptocurrencies including Bitcoin. You can use a desktop, mobile, or hardware wallet to save, manage, and protect your assets.
  • It brings multiple applications for its users that ensure more control over your assets. Real-time crypto charts enable you to trade your assets with ease. Exodus applications also allow staking as well. Moreover, they also give you the opportunity to earn interest in your crypto assets. 
  • Exodus iOS and android app empower you to buy, trade, manage and protect your assets on the go. Now, you don’t need to sit in front of your computer screen for hours. Control your digital assets from wherever you are or when you are on the move.
  • You can also secure your digital assets offline through the Exodus hardware wallet. The hardware wallets give you the extra security you need.

3. MyCelium

MyCelium is among reproducible crypto wallets that are completely secure. Even non-custodial wallets are prone to cyber-attacks. However, when you are using a reproducible wallet for the protection of your digital assets, you are completely secure. Thus, MyCelium makes your self-custody perfect. The platform takes several measures to keep your assets safe and protected. Moreover, the MyCelium application allows you to keep a backup of your account. You can restore your account through backup even if your mobile is lost. The only aspect in which MyCelium lacks is that it only supports two cryptocurrencies, Bitcoin and Ethereum. 

  • MyCelium mobile app has a refreshed user-friendly interface. It ensures ultimate security with various security measures such as several levels of pin protection. 
  • Offers built-in exchange and an extended selection of exchange rate sources.
  • Allows you to set custom transaction fees and that’s why you have the authority over how long you want to wait for a transaction to be completed. 
  • MyCelium mobile application also supports hardware wallets. You can store your digital assets offline but can use the MyCelium app to manage your holdings.

4. Trezor Model T

Trezor Model T is another big name in the world of cryptocurrencies. It is an advanced hardware wallet that is developed to be the master access key to access all your cryptocurrency holdings. Trezor Model T also ensures the security and protection of the highest order. It supports more than 1200 coins including bitcoin and Ethereum. Moreover, the device is user-friendly and has introduced a touch screen. The device also has a MicroSD card slot and gives you the freedom to encrypt the pin and other important data to prevent attacks.

  • Trezor Model T keeps your keys protected and allows you to use your keys securely. The keys are protected on the device, never leave it, and are, therefore, safe from online vulnerabilities. 
  • Network-isolated authentication ensures the security you need. It always confirms what you are agreeing to on the Trezor Model T itself. The touch screen and the user-friendly interface enable you to approve all your operations with ease.
  • Trezor Model T also allows backup of your entire wallet. If you lose your device somehow, you can easily recover your entire wallet using the 12-words recovery seed.
  • Trezor Model T supports all operating systems currently available. On mobile devices, it only supports the Android operating system. 

5. Coinbase

Coinbase is one of the most popular players in the cryptocurrency game. Being the most popular cryptocurrency exchange in the US, the platform offers the easiest cryptocurrency trading. If you want a digital wallet for yourself, Coinbase also offers digital wallets with numerous top-quality features. 

  • Coinbase offers the ultimate security to store your digital assets and collectibles. It protects your keys with Secure Enclave and biometric authentication. You also have the option of cloud backups to restore your wallet.
  • The way you can store your cryptocurrencies as well as NTFs in one place is extremely pleasing. 
  • Coinbase supports more than 500 coins and tokens including Bitcoin, Ethereum, Litecoin, and many others.
  • It brings the entire financial system with its cryptocurrency applications for decentralized exchanges, Defi protocols, cryptocurrencies, and collectibles.
  • Coinbase Chrome extension is another worthwhile feature. It allows you to manage your digital assets on desktops while keeping your private keys safe on your smartphones. 

6. Trezor One

Trezor One is another remarkable invention to store your digital assets offline. It allows you to store, trade, and manage your cryptocurrencies in the safest way possible. Trezor One is a hardware wallet that brings digital freedom and ensures security that wasn’t possible ever before. The security protocols are also very transparent and are constantly audited by security researchers. Trezor One is trusted by big companies and loved by the community because of multiple good reasons. 

  • Trezor One gives you digital freedom with top-level security measures. Its security is also transparent and there is no room for even a shadow of a doubt. 
  • The hardware wallet’s interface is also intuitive and extremely user-friendly. It was designed by keeping in mind the requirements of users.
  • You can always recover your entire wallet with 12 to 24 words recovery seed. There is also no room for the fear of hardware loss. You can restore your wallet from offline backup within 5 minutes.
  • It also offers the ultimate compatibility with all operating systems. 

7. Ledger Nano S

Ledger Nano X is another world’s most popular hardware wallet to protect, buy, manage, and grow your cryptocurrency investments. The beautiful gadget is available in multiple colors as well as in transparent complexion. Ledger Nano X also promises simplicity, maximum control over your cryptocurrency, and the best technical specifications. 

  • Allows pairing of the device with the Ledger Live app and brings maximum security and control over your cryptocurrency investments. Ledger Nano X stores your cryptos offline and is protected. 
  • Ledger and its partners combine to offer simplicity and control over the cryptocurrencies you seek. And enable you to buy, manage, and grow your crypto in seconds through a smart and safe but simple way.
  • Permits installation of three applications on the device depending on their sizes. You can safely install and uninstall applications whenever you need to optimize capacity. These applications help you keep all your crypto assets in one place. 
  • Ledger Nano X supports all major cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Stellar, EOS, XRP, and many others.
  • Ledger Live helps you buy cryptocurrencies of your choice, exchange them whenever you want, and grow your assets with ease and perfection by never compromising security. 

8. Electrum

Electrum is another reliable and trusted cryptocurrency wallet. The wallet has been providing the security you seek and deserve to protect your digital assets. Electrum is also fast and efficient and makes you enjoy a unique user experience. It has various user interfaces and is completely compatible with currently available operating systems. Electrum also supports three hardware wallets including Ledger, Trazor, and KeepKey. However, it only supports Bitcoin. Electrum is among the best crypto wallets and popular all across the globe because of the features it brings for the crypto community. 

  • One of the safest cryptocurrency wallets you can get for the safekeeping of your Bitcoins. It also secures your private keys by encryption and never lets them leave your computer. 
  • The cold storage wallet keeps your private keys offline and goes online as a watching-only wallet.
  • It is flexible enough as it allows the export of private keys and their use in other Bitcoin clients. You can also spend your coins between several wallets.
  • You can also recover your entire wallet through a secret phrase.
  • Your wallet never goes down, thanks to the decentralized and redundant Electrum servers.

9. Gemini

Gemini is another big brand in the cryptocurrency world. It is indeed a crypto-native platform that offers cryptocurrency exchange and cryptocurrency wallets. You can store your digital assets in insured Gemini hot or cold wallets. Gemini ensures industry-level protection and wallet infrastructure supports all assets listed on the platform. Thus, it enables you to buy, trade, manage and grow your assets with confidence. Gemini wallets offer various commendable features and can easily be considered one of the best crypto wallets providers.

  • High industry-level security is an outstanding feature. Your assets are insured against theft from hot wallets. 
  • Gemini crypto wallets are constantly upgraded to improve infrastructure, customer experience, and network usage. It is also upgraded to support new cryptocurrencies. 
  • Gemini wallets have an interface that is user-friendly and you can manage your assets with ease and perfection. 
  • Gemini ensures an easy-to-use storage experience. However, if you need customer support service, Gemini’s team is available 24/7 to answer your questions and resolve your issues.

10. Wasabi Wallet

Another one of the best Bitcoin wallets is Wasabi Wallet. It is a privacy-focused Bitcoin wallet that also ensures optimum security. Wasabi Wallet is an open-source and non-custodial wallet for desktops. It is perfectly compatible with all operating systems including Mac, Windows, and Linux. Wasabi Wallet implements trustless CoinJoin to keep Bitcoin transactions anonymous and prevent attacks. 

  • Wasabi Wallet implements a CoinJoin mechanism to ensure the best security of your Bitcoins. The mechanism involves combining multiple coins into one large transaction with multiple inputs and outputs. Thus, it is impossible for observers to trace the origin of coins and where they were sent to. 
  • It supports popular hardware wallets including Ledger, Trezor, and Coldcard devices. You can easily send or receive Bitcoins by simply plugging in the device. 

11. Edge

Edge is another great option for cryptocurrency investors that has a sound security track record. That’s because security isn’t a feature at Edge but a foundation that cannot ever be overlooked. The Edge wallet brings ease-of-use, security, and user privacy that you cannot avail of anywhere else. Despite the complex security mechanism and advanced security measures, the login is as easy as breathing. You can log in with ease through PIN or Touch ID. Edge is also astonishingly forgiving as you can recover your entire wallet with a username and password. That’s the Edge way and that’s why Edge wallet is among the very best crypto wallets in the world right now. 

  • Edge wallet ensures the ultimate security but makes it really simple and easy to buy, store, trade, and grow your digital assets. 
  • The seamless exchange between various digital assets on the go is mesmerizing for crypto investors. 
  • Edge supports more than 30 coins including Bitcoin, Ethereum, Litecoin, Monero, and many others. 
  • You can also store all digital assets in your possession in one place. You can also buy or sell your assets directly from your mobile application.
  • The Edge wallet application is available for both Android and iOS. The feature-rich application is not only totally secured but also easy to use.

What is a wallet?

A cryptocurrency wallet is a software program, in many forms such as mobile, desktop, or web, or a hardware device that enables you to store, send and receive your digital assets. 

Technically, a crypto wallet doesn’t store your digital assets. Digital assets are stored on a global decentralized database known as the blockchain. They never leave the blockchain and the blockchain records and stores all crypto transactions. A wallet creates a public address on a blockchain that can only be unlocked through private keys. It stores and protects your private keys required to unlock the blockchain address so that you can easily but securely do whatever you want to do with your digital assets. In other words, a wallet only facilitates the transfer of assets from one address to another. 

Although some major cryptocurrency exchanges allow you to store and hold your assets right there on the platform. Still, you need a private, non-custodial wallet for safekeeping crypto assets because of security reasons. You also need one of the best crypto wallets to take control of the security of your digital assets because cryptocurrencies are decentralized. A crypto wallet ensures extra protection against theft or loss. Thus, the best cryptocurrency wallets are mandatory for making transactions and for extra protection. 

Different types of cryptocurrency wallets

There are a few different types of crypto wallets.

  • Wallets on exchange – Some major cryptocurrency exchanges allow you to store your digital assets on their platforms. These are wallets on exchange and exchanges typically store assets of their clients in cold storage. It is quite convenient but recommended because you transfer control and custody of your digital assets to a centralized entity. Today’s exchanges might be safe, they still are relatively new developments and there are certain vulnerabilities. Therefore, we can only recommend to store your assets in non-custodial wallets having no control by any third party. 
  • Paper wallets – Paper wallets use a single private key and Bitcoin address, printed out onto paper, generated by a website. Paper wallets have become obsolete and no more effective because they have various downsides.
  • Software wallets – Software wallets are applications that you can run on a desktop or on your mobile. The main advantage of software wallets is they allow complete control over your holdings. There is no involvement of a third party that can lose your funds. However, the security of your software wallets is also your responsibility. Therefore, you need to secure your software wallets and keep backups.
  • Hardware wallets – Hardware wallets are the wallets that store and protect your private keys in a hardware device. They offer the most secure and protected way to buy, keep, manage, and grow your digital assets. 

What is the difference between a hot and cold wallet?

Hot wallets use private keys generated or stored on a device having access to the internet. They ensure high utility but are prone to cyber-attacks and are less secure as compared to cold wallets. Therefore, they shouldn’t be used for transactions involving large sums of money.

Conversely, cold wallets offer the ultimate security of your digital possessions. From obsolete paper wallets to the latest hardware wallets, cold wallets store your private keys permanently offline. They cannot be accessed without the internet and are recommended for the safekeeping of large sums of digital assets.

What to look for when choosing your cryptocurrency wallet? Are all wallets worth it?

To pick the best cryptocurrency wallet for yourself, consider your needs and preferences first. Then compare wallets based on the following key factors. 

The type of wallet – Choose a wallet type that suits your personal preferences. For example, if you want a wallet that offers the ultimate security, a hardware wallet is the best choice for you. Conversely, if you want quick and convenient access to your digital assets, a software wallet suits you.

Security – Consider security features of wallets such as multi-sig feature, two-factor authentication, offline or online private key storage, etc. You should also look for a wallet that never suffered security breaches. 

Supported digital assets – It is also crucial to consider whether you want to store a single cryptocurrency like Bitcoin or a wallet that supports multiple currencies. Remember that your wallet should support cryptocurrencies you want to store. Otherwise, it will be useless for you. For example, Electrum only suits users who want to store Bitcoins only.

User-friendly features – Buying and managing cryptocurrencies is complicated, especially for beginners. Therefore, it is important to look for wallets that suit your crypto experience and tech knowledge. A simple and user-friendly wallet suits beginners. Conversely, an experienced person will look for a wallet with more advanced features like the in-wallet exchange.

Costs – Cost is an important factor that you carefully need to consider. Costs like upfront payment and shipping costs are obvious. However, some companies require you to pay a commission on every transaction. Therefore, it is crucial to read all terms and conditions to see what you’ll have to pay.

Other features – Other features like support for exchange among different cryptocurrencies, access to live fiat exchange rates, the qualifications of the team behind the wallet, and the reputation of the company providing wallet. 

Can a wallet hold all my cryptocurrencies? 

You can store all of your Bitcoins, Ethereum, etc. in a single wallet. However, if you want to store multiple currencies in one wallet, it depends on the cryptocurrencies you own.

There are some cryptocurrency wallets that enable you to hold multiple cryptocurrencies in one place. For example, Coinbase supports more than 500 cryptocurrencies and tokens. You can store all of these cryptocurrencies supported by Coinbase in one wallet. As a result, you won’t be able to store any cryptocurrency not supported by Coinbase. You will need another wallet for unsupported coins. 

What is the difference between a software and hardware wallet? What are the pros and cons of each type?

A software wallet is locally stored inside the hard drive of your desktop or laptop. Software wallets offer great functionality and ease of use. You can quickly access a software wallet and do whatever you want to do with your cryptocurrency holdings. The downside of a software wallet is that it is susceptible to cyber attacks as it remotely connects with the internet. Some malicious players may hack your private keys as they are stored online. 

On the other hand, hardware wallets are physical devices that store your private keys. They are the most recommended and secure wallets to protect your digital assets. They are almost impossible to hack because your private keys are stored inside the device and they never leave the wallet. However, they are relatively difficult to access because you have to connect them with your mobile or computer.

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