Cryptocurrency wallets are an essential tool for buying, trading, and selling cryptocurrencies. Investors need them to store cryptocurrencies securely, as well as to protect and validate transaction information.
Whether hardware or software, also called hot wallet (“hot wallet”) or cold wallet (“cold wallet”), custom cryptocurrency wallets offer investors specific solutions compared to those of cryptocurrency exchanges.
Read on to learn about the different types of cryptocurrency wallets, how they work and which one you should choose.
| Best hardware wallet: | Best for beginners: | Best desktop Bitcoin wallet: | Best mobile wallet: | Best desktop PC wallet: | |
| Ledger Nano X | Coinbase Wallet | Electrum Wallet | Trust Wallet | Exodus Crypto Wallet | |
| Key features: | Trade and staking of cryptocurrencies in your Ledger hardware wallet through the Ledger Live app. | Interact with websites using the Dapp web browser (decentralized application). | Reissue transactions at a higher rate with the Replace by rate function | Supports Bitcoin and major Ethereum blockchains; works with ERC20, BEP2, and ERC721 tokens. | Commission-free integrated trading provided by Shapeshift exchange platform |
| Portfolio type: | Cold storage | Hot storage | Hot storage | Hot storage | Hot storage |
| Information on prices and rates: | 81.73 for the device; mining, wallet, and interchange fees apply | User-set mining rates from low to high priority; purse and exchange rates | 0.2 mBTC (default rate) | User-set miner rates from low to high priority; fiat to third-party crypto conversion rates. | User-settable mining rates from low to high priority (for BTC, ETH, and ERC-20 transactions) |
| Compatible with hardware portfolios? | N/A | Yes (Ledger devices) | No | No | Yes (Trezor devices) |
| Number of coins and tokens allowed: | 5,500+ | 5,500+ | 1 | Over 4.5 million | 282 |
The best cryptocurrency wallets of 2023:
- Coinbase Wallet – The best wallet for beginners
- MetaMask – The best wallet for Ethereum
- TrustWallet – The best wallet for mobiles
- Ledger Nano S Plus – The best hardware wallet for cryptocurrencies
- Electrum – The best Bitcoin wallet for PCs
- BlueWallet – The best Bitcoin mobile wallet
- Exodus – The best PC wallet
- Crypto.com – The best DeFi wallet
1. The best wallet for beginners: Coinbase Wallet
- User-friendly and easy-to-navigate interface.Supports more than 5,500 digital assetsMulti-signature and two-factor authentication supportBacked by a reputable trading platform that is capable of recovering lost or stolen assets
- Similar security issues and weaknesses as other hot storage alternatives.Only available on mobile and tablet devices (except Chrome extension).
We have chosen Coinbase Wallet as the best cryptocurrency wallet for beginners because it is an intuitive and very secure wallet backed by a well-known exchange.
Coinbase Wallet is an excellent wallet for beginners with little or no experience with cryptocurrencies. The app connects to most major bank accounts, and the user interface was designed to be intuitive and easy to navigate, with a simple three-tab layout and clearly identifiable functions.
Coinbase Wallet can store popular coins, such as Bitcoin, Litecoin, Dogecoin, and Ripple, as well as all ERC-20 tokens and tokens on EVM-compliant blockchains, amounting to more than 5,500 supported digital assets, one of the largest numbers on our list.
It is important to make a distinction between Coinbase exchange and Coinbase Wallet. The Coinbase exchange is one of the oldest and most well-known cryptocurrency trading platforms in the United States. Keeping your digital assets in the exchange’s web wallet makes trading easier, but leaves your coins exposed to more dangerous cybersecurity threats.
Coinbase Wallet can be used without opening an account with the exchange and is non-custodial, meaning the private key is stored on your device, not on Coinbase’s servers. This means you don’t have to worry about your coins being blocked for some reason or exposed to a cyber-attack on the website.
Other highlights include:
- Uses the Secure Enclave chip available on Android, iOS, iPad, and Mac devices to provide biometric authentication (e.g. FaceID, TouchID).
- Provides access to decentralized in-app exchanges, which can convert tokens without intermediaries
- Offers optional cloud backups to protect your digital keys
2. The best wallet for Ethereum: MetaMask
- Intuitive interface design in browser extension and application. Can be linked to NFT marketplaces and supports thousands of apps
- Fees to buy Ether can be high and can not be directly stored in Bitcoin
We chose MetaMask as the best cryptocurrency wallet for Ethereum because its user-friendly interface provides quick and easy access to thousands of tokens and decentralized applications within the Ethereum network.
MetaMask is one of the most widely used Ethereum wallets, with over 30 million monthly active users. This may be due to its ease of use and accessibility: the wallet has an attractive and simple design for novice investors looking to store and send Ethereum-compatible cryptocurrencies and interact with decentralized applications (dApps).
MetaMask also stands out for its compatibility with other blockchain solutions. Users can add almost any blockchain network to the application. The wallet is fully compatible with the most popular Web3 networks, including Polygon, Binance Smart Chain, and Avalanche. Users can also access popular NFT marketplaces such as OpenSea, and exchange a variety of collectibles by connecting them directly to the wallet.
Anyone using Google Chrome, Microsoft Edge, Mozilla Firefox, or Brave browsers can download the wallet as an extension. You can also download the MetaMask app on your Android or Apple mobile devices.
Other highlights include:
- Built on open source, allowing developers and security experts to review the software to make sure it is secure.
- Account information is encrypted and stored locally – no information comes into contact with MetaMask’s servers – meaning users have full control of their private keys
- Fast switching between first- and second-layer Web3 solutions
3. The best mobile wallet: Trust Wallet
- Supports a wide range of coins and tokens. Earn interest in one of 12 different cryptocurrencies simple and easy to use interface built-in Web browser3
- Owned by Binance, which has faced regulatory issues in the US. Limited educational resources on coins and tokens.
We chose Trust Wallet as the best mobile cryptocurrency wallet because it features a clean and easy-to-read user interface, built-in support for dApps and NFTs, and the highest number of supported assets on our list.
Trust Wallet is a popular online mobile cryptocurrency wallet and the official mobile app of Binance, one of the world’s leading cryptocurrency exchanges. Despite its ties to Binance, the wallet is non-custodial, meaning it doesn’t store your private keys, with the user being responsible for safeguarding them. It supports more than 40 blockchains, so it is capable of storing a wide variety of digital assets: more than 4.5 million coins and tokens, the largest number on our list.
Trust Wallet is also a great mobile option for NFT and decentralized app enthusiasts. The wallet has a built-in Web3 browser, allowing users to access apps and blockchain games directly through the app. This feature makes purchasing NFTs easy, as users can search, buy and store tokens using the built-in decentralized exchange, all without leaving the app.
Other highlights include:
- Integration with Binance DEX allows users to purchase large amounts of tokens with a debit or credit card.
- Among the top-rated mobile cryptocurrency wallets on Apple and Google marketplaces.
4. The best hardware wallet: Ledger Nano S Plus
- Install up to 100 apps at the same time buy and sell cryptocurrencies directly through the Ledger Live app verify all transactions by pressing 2 buttons compatible with 50 other hardware wallets
- More expensive than your original entry-level wallet custom operating system is not open source
We chose the Ledger Nano S Plus as the best hardware wallet for cryptocurrencies due to its large number of supported assets, strict security framework, and trading capabilities through the integrated Ledger Live app.
Ledger is one of the most well-known brands in the cryptocurrency space, with its hardware wallets being a popular choice among cryptocurrency enthusiasts. Its products are notable for using a Secure Element component – a type of chip commonly seen in passports, credit cards, and payment systems – to provide an additional layer of security.
Its first wallet, the Nano S, was upgraded in April 2022 to the Nano S Plus, which came with an improved display, much larger storage capacity, and a USB-C cable port. This upgrade to the Ledger Nano S made an already strong entry-level product even more attractive compared to its bigger brother, the Ledger Nano X.
The wallet costs $81.68, a convenient price that sits comfortably in the middle ground between the cheapest and most expensive alternatives currently available on the market. It also measures 2.2 × 0.7 × 0.36 inches and features a 128 × 64-pixel display, which means it is easier to carry and navigate installed applications.
Other highlights include:
- The first and only hardware wallet of its kind whose security has been certified by a government agency (in Ledger’s case, by ANSSI, the French cybersecurity agency).
- The Ledger Live application, can be used for monitoring, lending, and staking cryptocurrencies, in addition to buying and selling digital assets
5. The best Bitcoin wallet for PC: Electrum
- Quick and easy to set up higher security than other hot walletsCustomizable transaction feesNo downtime for wallets due to server configurations
- Configuration and interface not ideal for beginners customer support by chat, email, or telephone
We chose Electrum as the best Bitcoin wallet because of its extensive security features and a high degree of customization.
Founded in 2011, Electrum is one of the oldest and most well-known cryptocurrency wallets today. It is also one of the few cryptocurrency wallets that only operates with Bitcoin, a currency for which Electrum is uniquely equipped.
The wallet hosts a variety of robust security features, including 2FA, transaction verification, and multi-signature wallet support. In addition, users can adjust their fees based on how long they are willing to wait for a transaction to complete: If they pay more in fees, their transaction will be executed faster.
One of the biggest advantages of this wallet is that it uses a thin client. Thin clients can be set up in a matter of minutes and take up less space than traditional wallet clients on your computer. By using simple payment verification (SPV), the wallet only downloads parts of the blockchain, which speeds up transactions without compromising security.
Other highlights include:
- Open-source wallet, meaning its code is available for scrutiny, helping to build trust with consumers.
- Supports both standard deterministic accounts and hierarchical deterministic accounts (HD)
- Integration with hardware wallets (KeepKey, Ledger, Trezor) for cold storage
6. Best Bitcoin mobile wallet: BlueWallet
- Modern design with an accessible user interface supports both blockchain and lightning transactions creating or importing multiple wallet multi-signature vaults for added security
- No two-factor authentication advanced tools could use in-application tutorials
We have chosen BlueWallet as the best mobile bitcoin wallet because of its feature-rich mobile app, simple user interface, and integration with the Lightning network.
BlueWallet is an excellent alternative for bitcoin traders who can’t or don’t want to use more complex software on their desktops. It is similar to Electrum in the sense that they are both bitcoin-only wallets, which means they can focus entirely on innovating and improving the experience of using Bitcoin on the platform.
The wallet’s interface is welcoming and easy to navigate for beginners, but the app also includes a number of additional features that more advanced users may appreciate. In addition to basic functions such as sending, receiving, and storing BTC, BlueWallet allows users to send batch transactions, customize fees and establish a Tor connection for enhanced privacy.
Another big advantage of BlueWallet is its integration with the Lighting network, a layer two solution that makes peer-to-peer payments much faster than on bitcoin’s layer one network. It is useful to think of the Lightning Network as a highway that sits on top of the bitcoin blockchain.
Other highlights include:
- Read-only wallets, allow users to monitor their cold storage without interacting with their private key.
- Plausible deniability, a BlueWallet feature that allows users to set a different password that will crack a “fake” wallet.
7. The best wallet for PC: Exodus
- Supports more than 280 cryptoassetsCompatible with Trezor One and Trezor T hardware walletsAllows users to buy Bitcoin with Apple Pay24/7 customer support
- High transaction fees on wallet-integrated cryptocurrency exchange.Lack of native 2-factor authentication may annoy some usersNo support for multiple signatures
We chose Exodus as the best cryptocurrency wallet for desktops because of its transaction speed, ease of use and diverse client functionality.
Exodus is one of the most attractive and intuitive wallets on the market. Initially a desktop-only wallet, Exodus now has apps for iOS and Android and also supports Trezor wallets, a popular brand of hardware wallets. However, the desktop wallet app – available on Windows, Linux and Mac operating systems – remains the wallet’s core offering and is updated every two weeks.
One of the main attractions of Exodus is the number of coins it supports: more than 280 cryptocurrencies and NFTs, a larger number than many other wallets. This includes established altcoins, such as Ether, Litecoin, XRP and Bitcoin Cash, as well as popular meme coins like Dogecoin and Shiba Inu.
The wallet also has a growing number of apps being launched to diversify the wallet’s functionality, including apps for live charts, crypto staking and crypto deposits.
Other notable features include:
- Customizable fees for Bitcoin, Ethereum and ERC20 transactions.
- Runs on a thin client, meaning it uses simple payment verification and does not download full blockchains in order to speed up transactions
8. The best DeFi wallet: Crypto.com
- Choose your preferred trading rate and confirmation speedOver 250 currencies, including BTC, ETH, CRO, ATOM, DOT and LTCEarn interest on over 40 cryptocurrencies
- Funds are inaccessible if you lose your private key and recovery passphraseBuilt-in token exchange has some geographic restrictions
We chose Crypto.com DeFi Wallet as the best DeFi cryptocurrency wallet because of its variety of decentralized finance tools, excellent onboarding process and strong security framework.
Crypto.com DeFi Wallet is an excellent choice for users starting their journey into decentralized finance. DeFi wallets give users complete control over their digital assets and their private key, for whose safekeeping they are responsible. This type of wallet also has features not available to regular, custodial wallets, including one-to-one cryptocurrency exchanges and a wide range of tools for users to earn passive income on cryptocurrencies they already own.
As with other exchanges that feature both a custodial and non-custodial wallet, it’s important to make the distinction between the two. You can download Crypto.com’s DeFi wallet and use it for your regular cryptocurrency-related activities without having to create an account on Crypto.com’s exchange platform.
Consumers should be aware that decentralized financial products and services carry significant risks and should be used with caution.
Other highlights include:
- Multiple layers of security, including biometric authentication, 2-factor authentication and Secure Enclave technology on iOS devices.
- Create multiple digital wallets and import other wallets.
- Connect with other decentralized applications through the WalletConnect tool.
Other cryptocurrency wallets to consider:
Trezor
- Choose between Trezor One and Trezor Model TIntuitive and convenient interface, including a touch screen for Model T
- More expensive than other hardware wallets with similar functionalityNot compatible with iOS devices
Along with Ledger, Trezor is one of the two best-known hardware wallet brands in the cryptocurrency world. Developed by SatoshiLabs, Trezor was the first cryptocurrency hardware wallet, and its two current models feature excellent security measures and support many assets.
Trezor did not make our first list, as the models offered by Ledger surpass them in terms of construction and number of coins supported. We still recommend Trezor for anyone using the Exodus wallet as their primary cryptocurrency wallet due to its native compatibility with Trezor devices.
KeepKey
- Reasonably priced hardware walletDevice display supports QR codes
- Supports a limited number of coinsHeavier than similarly priced competitors
Another hardware wallet, the KeepKey, is an excellent solution for those looking for an affordable hardware wallet. Currently priced at $49, it features an attractive display and interface that are easier to use than the Trezor and Ledger wallets.
The wallet also follows top-tier security standards. However, like the Trezor models, KeepKey has been outclassed in terms of features and construction when it comes to the best hardware wallet.
Atomic Wallet
- Supports over 300 currencies and tokens supports credit card purchases and wallet exchanges and conversions
- No integration with hardware walletsNot many currencies available for atomic exchange function
Atomic Wallet is a wallet with many advantages. Users do not need to open an account to use it, customer support is available 24 hours a day, and the wallet supports a considerable amount of assets.
One of the highlights is its Atomic Swap feature, which uses a decentralized cryptocurrency exchange hosted within the wallet itself to exchange currencies without the need for third parties. Still, it didn’t make our top list because other wallets offer better versions of its features.
ZenGo
- A keyless security system ensures there is no single point of failureAllows cryptocurrencies to be purchased with credit, debit, bank transfer and Apple Pay
- Not having private keys is a major source of contention for some users not all features are available worldwide
ZenGo’s unique approach to user security makes it a controversial wallet among cryptocurrency investors. Through a variety of security tools, including biometric encryption, three-factor authentication and multilateral computing cryptography, the wallet is able to operate without escrow but without private keys.
ZenGo has other noteworthy features, such as a simple user interface, support for dApps and NFTs, and cryptocurrency staking, but the wallet’s unconventional approach to security prevented it from appearing on our top list.
Coinomi
- Oldest multi-chain wallet available, never been hackedBuilt-in exchange and a large number of supported assets
- Does not support two-factor authenticationClosed-source wallet code lacks transparency
Coinomi was designed from the ground up as a multi-chain wallet, that is, a cryptocurrency wallet that has an address on multiple blockchains, allowing users to send and receive transactions on them. The wallet has robust security features, more than 1,700 tradable assets and offers 168 representations of fiat currencies – readable in 25 languages – but it doesn’t excel in any of the categories we consider when evaluating cryptocurrency wallets.
Frequently asked questions about cryptocurrency wallets
What is the best cryptocurrency wallet?
The best cryptocurrency wallet should be easy to use and support a large number of coins and tokens. Hot wallets (“hot wallets”) should include strong security tools, such as two- or multi-factor authentication and support for multiple signatures, while charging minimal or no fees. Cold wallets should be available at a reasonable price and supported by a variety of hot wallets to facilitate trading.
Based on our evaluation, some of the best cryptocurrency wallets are Coinbase Wallet, Ledger, Exodus and Trust Wallet.
How to Get a Cryptocurrency Wallet
The first step is to understand the types of wallets so you know which one fits your trading needs. To get a “hot” or software wallet, you must download the software to your mobile or desktop device and, in the case of custodial wallets, go through the registration process. To get a cold cryptocurrency wallet, you will have to buy the physical product, which is usually done through a certain brand’s online store, and wait for it to arrive at your home.
Which cryptocurrency wallet should I use?
The cryptocurrency wallet you should use will depend on your specific use case and scenario. For example, some experienced investors are only interested in trading specific coins, so they should look for a wallet that specializes in that particular coin. If you are a beginner in the cryptocurrency market, we recommend you stick with Coinbase Wallet, our best cryptocurrency wallet for beginners, or Trust Wallet, our best mobile cryptocurrency wallet.
What is the most secure cryptocurrency wallet?
The most secure cryptocurrency wallet should provide the highest degree of security for your public and private keys, including technology such as two-factor authentication and multi-signature support for software or web wallets. If security is your biggest concern, we recommend using the best hardware cryptocurrency wallet, the Ledger Nano S, as cold storage wallets are inherently more secure than hot wallets.
