Decentralized applications (dApps) with cryptocurrencies at their core are changing the way we do business online. Millions of people are already making imprints in the world of crypto, and some are even taking it above and beyond. However, amidst all of this, there is a rising need for crypto wallets, which play an instrumental role in storing, managing, and securing crypto assets.
If you are wondering, crypto wallets are a paramount tool for buying, trading, and selling cryptocurrencies. Traders need them to store crypto securely, as well as to protect and authenticate transaction information. Whether you choose a hardware wallet or a soft wallet, crypto wallets offer the necessary digital solutions to crypto assets.
In this piece, we will look at some of the top crypto wallets to keep your coins safe and also have the best crypto experience.
12. Electrum Wallet
Founded in 2011, Electrum wallet is among one of the oldest and most well-known crypto wallets to date. It’s also one of the few remaining crypto wallets that only deals in Bitcoin.
One of the wallet’s best assets is that it uses a lightweight client. Light clients can be set up in a matter of minutes and take up less space than traditional wallet clients on your computer.
The Electrum Wallet is an open-source wallet, meaning its code is available for scrutiny, which helps build trust and safety, and it offers custom transaction fees where users can adjust their fees depending on how long they’re willing to wait for a transaction to be completed.
11. Mycelium Wallet
Mycelium is a super crypto wallet with a strong security system and advanced transaction history, making it the best crypto wallet for mobile devices.
In 2018, Mycelium was brought to life with a big focus on Bitcoin, solidifying itself as one trusted wallet for users. Its security and transaction options are two of the wallet’s major highlights.
The app is entirely reproducible, which means its code can be duplicated and compared to the original to find any potential security issues and it has several levels of pin protection.
10. Ledger Wallet
Ledger is a DeFi wallet provider that offers a hardware wallet to store your crypto offline, which is safer for many. Ledger’s wallet product, the “Ledger Nano,” is used by over 4 million people. Its huge number of users and features has gotten wallet recommendations from Forbes, Bloomberg, and TechCrunch.
While the Ledger Nano is a hardware wallet, it can connect seamlessly with the Ledger Live app, which is available on your mobile or browser. The wallet combines a Secure Element and a proprietary OS designed specifically to secure crypto assets.
It lets users manage more than 5,500 tokens and supports many of the best DeFi coins. What’s more, Ledger also offers a ‘Grow’ mechanism where you can stake up to seven tokens at one time.
9. Argent Wallet
Argent is a mobile DeFi wallet that supports Ethereum-based assets, offering a way to use specific DeFi mechanisms quickly and cost-effectively. Launched in 2020, the wallet has gained an excellent reputation due to its user-friendly interface and high level of security.
Argent allows users to stake ETH and earn up to 5% per year, with USDC and DAI deposits generating up to 15% per year, meaning that returns fall in line with many of the best crypto interest accounts.
You can also instantly swap tokens using the Argent wallet or purchase new coins through Argent’s DeFi wallet to bank account link. The wallet is non-custodial and features biometric identification and multiple layers of security protocols.
8. Atomic Wallet
Launched as Atomic Swap in 2017, Atomic Wallet supports over 500 cryptocurrencies. As a secure platform with enhanced speed, privacy, and anonymity, the wallet is suitable for both new and existing cryptocurrency investors.
As a non-custodial wallet, Atomic Wallet users have total control over their private keys, which are usually encrypted and stored on their devices. To authorize any transactions, Atomic Wallet requires users to input their passwords.
One superb feature of the Atomic Wallet is that it allows users to earn rewards through various means such as staking and cashback programs.
7. Trust Wallet
Trust Wallet is an open-source, decentralized, mobile crypto wallet that supports over 1 million assets and blockchains and allows traders to stake their crypto coins to earn interest while serving over 10 million users.
This free-to-use app employs security measures like pin code scanning or fingerprint scanning to add an extra layer of security.
Trust Wallet’s best feature is its “Trust dApp Browser,” a fully-functioning Web 3.0 browser that allows you to utilize a vast array of decentralized applications (dApps).
6. Trezor Wallet
Trezor retains a spot among the top DeFi wallets in the world. It offers two hardware wallets to purchase – the Trezor Model One and the Trezor Model T that hold users’ crypto in “cold storage,” making it virtually impossible for cyber attackers to steal users’ holdings.
Trezor wallets support over 1,000 coins and feature advanced security protocols to ensure that users are given the highest level of security.
Now, one of Trezor’s best features is the “Trezor Suite,” a desktop and browser app that links to users’ hardware wallets. This app allows users to buy, exchange, and spend without partnering with another exchange.
5. Exodus Wallet
Exodus Wallet allows users to securely manage and exchange cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Monero (XMR), Litecoin (LTC), and more.
Users can use it to track their cryptocurrency portfolio and its performance over time with its intuitive charts that update in real-time so that you can keep up with the fast-moving market.
When it comes to security, Exodus Wallet encrypts your Bitcoin private keys and transaction data on your device so that no one else can access your cryptocurrency. Users also have the option to enable face or Touch ID to further secure their wallets.
4. Crypto.com Wallet
Another hot wallet in this piece is the Crypto.com wallet. The Crypto.com wallet provides access to over 100 coins and allows users to earn interest on more than 35 tokens.
It is a great deFi wallet for those who are just starting their journey into decentralized finance, offering them full control over their digital assets and private key, which they are responsible for safekeeping.
The wallet has strong security systems including multi-factor and biometric authentication. However, it’s important to note if users lose their private keys and recovery phrase, their funds are rendered inaccessible.
3. MetaMask Wallet
MetaMask is an excellent DeFi wallet with over 30 million monthly active users. The wallet is known for its ease of use, availability on both desktops and mobile devices and the ability to buy, send, and receive cryptocurrency from within the wallet.
One of MetaMask’s best features is that it aggregates data from various sources, ensuring users get the best price with the lowest network fees when making a token swap.
MetaMask users can use wallets to store Ethereum-compatible tokens and non-fungible tokens (NFTs) across multiple blockchains.
Lastly, MetaMask ensures users remain anonymous during the process by not storing their payment information and relinquishing control over their crypto-assets.
2. Coinbase Wallet
The Coinbase wallet is a great option for users as it can store 44,000+ digital assets, interact with decentralized applications, and manage Ethereum-based NFTs.
Available in 190 countries worldwide, the wallet uses multi-factor authentication for access. It is free, and there are no fees for transactions between Coinbase wallets.
It’s also non-custodial, which means its private key is stored in your device, so you don’t have to worry about your currencies being exposed to a cyberattack on the website.
Blockchain.com is arguably the most popular online cryptocurrency exchange with 83 million wallets created on the platform.
The wallet has three levels of security to ensure that assets are locked down. It allows users to fund their crypto wallets and trades with a debit card, credit card, or by directly linking their bank account with their wallet.
The blockchain wallet is primarily non-custodial. Each customer has their own unique secret key that only they are privy to, and this key is the only method to access a blockchain wallet.
The cryptocurrency wallets listed above are arguably some of the best you can come across in the world. With that said, crypto users looking to get a wallet should focus on ease of use, availability, crypto assets access, and security, among other key attributes.
Also, keep in mind that either centralized exchanges (CEX) or decentralized exchanges (DEX) are prone to hacks from malicious actors; hence, ensure you have your cryptocurrencies in a personal wallet. Be it hot or cold, crypto wallets offer additional security that helps prevent theft, while still allowing you to actively purchase, sell, and swap cryptocurrencies.