Best Wallet for Cryptocurrencies
The World’s Best Cryptocurrency Wallets in 2021
Do you want to acquire cryptocurrencies but aren’t sure where to store it? Everyone understands that crypto currencies are held in crypto wallets, but finding the best cryptocurrency wallet for an inexperienced individual might be difficult.
You’ll agree that not all wallets are trustworthy, because the biggest issue with bitcoin is the danger of it being stolen through hacker assaults.
Good news: this post will teach you about the top crypto wallets on the web, as well as their key features, benefits, and downsides, so you can select the most trustworthy platform for your cryptocurrency.
1. Ledger – Best Cold Wallet
Platforms: Mac OS, Windows, Linux, iOS, Android
Coins: 1184 (Bitcoin, XRP, Ethereum, Bitcoin Cash, Monero, Dash, etc.)
| Pros | Cons |
|---|---|
| ✅ Upper hand design ✅ Reasonable price ✅ Secure ✅ Supports multiple coins ✅ Accepts crypto transfers even being offline ✅ Ease of use | ⛔ Not mobile-friendly |
Ledger has invented the world’s first and only certified hardware crypto wallet, designed for token owners who place a premium on asset protection. It is the manufacturer of four wallets that are available in 165 countries. Because there are free programs to download and install, the hardware wallet may be accessed from both a PC and a mobile device. There are the most up-to-date security features, as well as the ability to monitor real-time balances and support for numerous counter values. Owners of wallets may manage their accounts, view their transaction history, and add new or existing accounts.
The Ledger Nano S Experience is the latest and most sophisticated form of the wallet. It is a tiny and compact gadget with a metal casing. When you initially link the wallet onto your computer, you’ll be prompted to create a PIN and get a 24-word phrase that serves as the wallet’s private key. The program is ready to use after it has been installed. Because of the simplicity of its interface, it will take only a few minutes to become used to it.
Two buttons control the wallet: one for entering your PIN, the other for entering recovery words, viewing your balance, and verifying transactions.
2. Coinomi – Best for Mobile
Platforms: Mac OS, Windows, Linux, iOS, Android
Coins: 125 cryptocurrencies and 382 tokens (Bitcoin, Ethereum, Ripple, etc.)
| Pros | Cons |
|---|---|
| ✅Superb security ✅Custom and dynamic fees ✅Fast and cross-platform ✅Streamlined and user-friendly | ⛔No support of KYC mechanism
|
Coinomi was created in 2014 as a multi-asset ‘hot’ wallet. It is used by millions of people and has never been hacked. There are 168 currency symbols that may be read in 25 languages and quickly swapped at any moment. On all common platforms, the wallet works flawlessly on both computers and mobile devices. It also has compatibility for over 125 blockchains and hundreds of tokens, as well as the largest ownership.
Built-in exchanges, increased privacy, one-time backup, and native SegWit are all included in the wallet. Users may customize the interface to suit their mood and will enjoy how simple and comfortable it is to use.
3. Exodus – Best for Desktop
Platforms: Windows, Mac, and Linux, iOS and Android
Coins: 100+ (Bitcoin, Bitcoin Cash, Ethereum, Monero, Dash, LiteCoin etc.)
| Pros | Cons |
|---|---|
| ✅Built-in exchange ✅Technical excellence ✅Functional mobile app ✅Portfolio management feature | ⛔Absence of the web wallet |
Exodus is a multi-asset anonymous cryptocurrency wallet. The wallet supports over 100 assets and features a desktop and mobile version, according to the official website. There is a user-friendly interface that will be understandable even to novices. Apart from conventional transactions, crypto can also be exchanged.
There is no need to register in Exodus because it is a desktop wallet. It is sufficient to download and install the program on your computer. Exodus is synced with internet servers and does not need users to verify their identities.
On the platform, there are live charts and portfolios for all crypto assets, as well as round-the-clock customer service to address any user inquiries.
The portfolio management function allows you to see all of your assets at a glance. The wallet’s mobile app is linked with the desktop app and enables for on-the-go market monitoring. It’s also compatible with Trezor hardware wallets for even more sophisticated crypto security.\
4. Coinbase – Best for Buying
Platforms: iOS and Android, Windows, Mac, and Linux
Coins: 20 (Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, TRON, and BAT)
| Pros | Cons |
|---|---|
| ✅Crypto holdings are insured ✅2-step verification for better security ✅Secure storage ✅Reputable and trusted | ⛔A limited number of tokens ⛔Is not suitable for storing large amounts |
Coinbase is an online wallet that can be built on the renowned exchange website that also sells cryptocurrency. Despite the fact that the number of currencies supported is limited, the leaders of all ratings may readily be found there.
All assets owned and saved on the platform are insured, unlike many other online wallets, which is why this wallet is frequently compared to a bank. You may also use a web browser on a PC to access your wallet, as well as a mobile app accessible on Google Play and App Store. Answering questions, completing bounties, and engaging in communities are all ways to earn Bitcoin.
Only the name of the Coinbase wallet holder is required to send and receive cryptocurrency.
The wallet manages all private keys and allows users to build three different types of wallets: wallet, vault, and multisig vault. The degree of protection given to the wallet vary amongst them. Coinbase also offers the option of opening a USD wallet.
5. Blockchain.com – Best Online Wallet
Platforms: Android, iOS, Windows, Mac, and Linux
Coins: Bitcoin, Ether, Bitcoin Cash, and Stellar Lumens.
| Pros | Cons |
|---|---|
| ✅Easy to use ✅Great customer support ✅The user interface is easy to navigate ✅Protects individual privacy ✅Possibility to buy and sell crypto directly in the wallet | ⛔A limited number of tokens ⛔Long verification process |
After making its debut in the blockchain sector as a Bitcoin block explorer, the platform has evolved into a wallet with the slogan “Be your own bank!” Over 40 million wallets have been created, with a total transaction volume of $200 billion. Low commissions and great security are provided to prevent unauthorized access to your valuables. You may safeguard your account with one of three security settings.
It can be accessed from any device and platform because it is a web-based wallet. There are excellent mobile apps for Android and iOS that make it simple to access the wallet.
A lot of features make the blockchain wallet even more interesting. To connect the devices, there is a built-in exchange and a ‘Lockbox’ functionality.online wallet to a hardware one. Recently, it introduced USD PAX to store digital dollars in the wallet.
6. Electrum – Best for Bitcoin
Platforms: Android, iOS, Windows, Mac, and Linux
Coins: Bitcoin
| Pros | Cons |
|---|---|
| ✅Fast, safe, and private ✅Trusted and widely used ✅Integrated with hardware wallets easily | ⛔Supports Bitcoin only |
Electrum is one of the first cryptocurrency wallets on the market, having been released in 2011. It is now the most used Bitcoin wallet, accounting for 10% of all BTC transactions. One of the finest aspects of this wallet, which is only focused on Bitcoin, is its simple interaction with major hardware wallets for increased security.
Electrum may be accessed via the browser on both computers and mobile devices, with the option to download mobile applications if needed. The transaction cost is set at 0.2 mBTC, although it can be significantly decreased in rare instances.
The wallet’s UI is simple and easy to use, making it an excellent alternative for newcomers. This wallet is also known for being one of the most secure.
7. WalletGenerator – Best Paper Wallet
Platforms: Windows, Mac
Coins: 197 (Bitcoin, Cashcoin, Litecoin, Emerald, Dash etc.)
| Pros | Cons |
|---|---|
| ✅Not subject to malware and keyloggers ✅There is no need to rely on third-party services to coin protection ✅Is not dependent on devices | ⛔Can be lost or taken by someone |
WalletGenerator is an open source program that allows you to create crypto paper wallets. To create a paper wallet, first download the website from GitHub and open the index.html page on the computer directly. It will let users to create new addresses and print paper wallets with QR codes. If you wish to accept crypto into your paper wallet, you must reveal the public address.
To spend coins kept in the wallet, the holder’s private key must be improved in a genuine client, which may be obtained from the website. Users can contact a customer support staff through Twitter or utilize GitHub to fix any problems.
What is a Cryptocurrency Wallet, and how does it work?
The definition of a bitcoin wallet is straightforward and straightforward. It’s a type of digital wallet that lets you save, receive, and send Bitcoin. Is it possible for a wallet to be digital? In actuality, it is software that performs wallet operations like as checking balances and executing online transactions.
If you want to own or utilize bitcoin, you’ll need a crypto wallet because it’s the only way to store it. Unlike fiat money, crypto cannot be held in your hands, transferred to a bank account, or charged to a credit card; instead, it must be transferred to a wallet from the site where it was acquired or received.
Nowadays, cryptocurrency wallets are pretty varied. Some are meant to store and use only one crypto currency, while others may store and use a variety of tokens. Owner-managed wallets and custodial wallets are also available.
The wallet’s capability for many cryptocurrencies means that this platform has access to the same amount of unique “public addresses.” These are numbers that identify each account and are used to receive a certain form of encryption. If you want someone to send crypto to your account, you provide them this public address, and the coins are sent to that address. Your wallet has access to your address and displays it on the screen.
Non-custodial wallet owners have a private key to maintain and run their wallets, whereas custodial wallets have keys that belong to a third-party entity (e.g., a currency exchange, a broker, etc.) and users may access their wallets using a password.
Wallets come in a variety of shapes and sizes.
People now have access to a variety of online wallets thanks to contemporary technology’s incredible options for developers and web engineers. The classification is based on a number of characteristics, including the media used for wallet storage, who controls the wallet, and whether any data is saved online in it. Some wallets have many sorts of features and are classified as such.
When it comes to the most basic sorts of Bitcoin wallets, there are a few to choose from:
Wallet with a Full Node
It’s a wallet in which the owner has complete control over private keys and hosts a complete blockchain copy. These are often wallets developed by token creators and deemed official since they include a connection to the main coin website.
Wallet in Custody
It’s a wallet where a third party stores all of the private keys.
Wallet for the desktop
It is a program that links the user to the coin’s client and can be accessible from your PC after it has been downloaded and installed.
Wallet on the go
It is a wallet app that runs on mobile devices and provides wallet functionalities.
Wallet on the internet
It’s a web-based wallet that runs on a physical or virtual server.
Wallet software
It’s any software-based wallet.
Wallet made of hardware
It is hardware, like as USB devices, that has been designed to store bitcoin and conduct transactions when they are plugged in and connected to the Internet. Hardware that isn’t linked can be transferred and kept in a separate location.
Wallet made of paper
It’s a printed version of a QR code with a public and private key. It implies you may conduct crypto transactions on paper without storing any digital information about your crypto coin.
Wallet designed specifically for coins
It’s a wallet for a single cryptocurrency.
Wallet for a certain network
It is a wallet to keep several tokens on one network.
Universal wallet
It is a wallet to hold addresses of many different altcoins.
What Should You Look for in a Cryptocurrency Wallet?
The selection of a cryptocurrency wallet is a serious undertaking, since a single blunder might wipe out all of your funds. As a result, it’s critical to think about a few things while deciding which crypto wallet to use.
Wallet design
You’ve already discovered that crypto wallets come in a variety of shapes and sizes, so you’ll need to answer the question, “How am I going to utilize a wallet?” to figure out what you’ll need. Small quantities of cryptocurrency can be stored in online or so-called “hot” wallets.
They can be accessed both from PC and mobile devices, are usually free but less secure and can be shared with other people. Offline or so-called ‘cold’ wallets are more secure, can keep large sums and guarantee privacy to you. At the same time, you need to pay money for them and would access them not so often like online ones.
Number of altcoins supported
If you plan to store Bitcoin, every wallet will support this most popular token nowadays. But more rare altcoins can be not supported by some platforms, so a wallet on them will be useless for you.
Security
It is better to prefer online wallets which start with HTTPS, provide 2-factor authentication, are ‘hierarchical deterministic’, and has not been hacked before.
Features
Modern wallets can have many features including a multi-signature feature, back up, customer support. Consider which ones are important for you and then make your choice.
Simplicity of use
It must be comfortable for you to use the wallet you own. The wallet provider must be transparent and enhance not only its security but also features.
Cost
Hardware wallets must be purchased and their cost starts from $50 and higher. Online wallets are usually free of charge and take some fee only for transactions.
Team in charge of reputation and development
It’s crucial to know if the firm behind the wallet has a lengthy history in the cryptocurrency sector and if it’s still working on updates and upgrades. Another factor to consider is user reviews, since only wallets with a reputable reputation are worthy of your confidence.
How to Protect Your Wallet
One of the most important qualities of a trustworthy and dependable crypto wallet is its security. However, it is not solely the platform’s responsibility to keep your wallet secure; the holder must also take certain precautions. If you want to keep your crypto assets safe, follow these guidelines and you’ll have more confidence in the security of your funds.
Make a choice of the crypto wallet reasonably
It is very important to evaluate several wallets before you decide which one to select. You can read reviews, feedback of other users, ask for the wallet legitimacy on forums, research which security features are offered by every wallet and how often these measures are improved by the development team.
1. Don’t neglect 2-factor authentication
Some wallets offer it as another level of security which can be chosen as an alternative. If a wallet has this feature, enable it undoubtedly.
2. Be careful picking a password
We use passwords on multiple platforms but your password to the wallet must be unique. Moreover, your username, PIN, and password should be strong.
3. Prefer multi-sig wallets
Multisignature wallets require from other users to sign each transaction in addition to the private code use. Naturally, it will take more time to send crypto in this way but your decision will be evaluated by one more person.
. Update antivirus protection regularly
It is very important to secure your device with the latest antivirus software to prevent any malware attacks.
5. Make regular updates of the wallet software
Modern wallets are constantly improved by their developers so he updates usually have improved security protection.
6. Backup your wallet
Nobody is insured against breaking or loss of the devices, so a wallet backup will be your key to recovering your funds.
7. Before transferring money, double-check the address.
Any type of misprint may cost you a lot of money.
8. Never use public Wi-Fi to access your wallet.
It has the potential to reveal sensitive information to crooks.
9. Separate your assets among separate wallets.
Small quantities of tokens should be kept in online wallets, while larger quantities should be kept in paper and hardware wallets.
10. Protect your private key by keeping it hidden.
Any revealing of such sensitive information as a private key might result in the loss of all your Bitcoin investments. It is preferable to use wallets that allow the wallet owner complete control over the keys.
last thoughts
One of the options that should be carefully studied before being made is the choosing of a wallet for money, especially if it is digital money that can only be saved in a wallet. The trustworthiness of bitcoin wallets can only be determined through time. There are services that have devised methods for defending against assaults and preserving the assets of its users. As a result, I’ve compiled a list of the top cryptocurrency wallets.
That is why this list of the best cryptocurrency wallets includes only reliable websites checked by time and thousands of users from different corners of the world.
Keeping money on an exchange rather than in a wallet
If you don’t want to go through the trouble of creating a crypto wallet, you may keep your cryptocurrency in the wallet associated with the exchange where you bought it. This easy-to-use solution gives you instant access to your cryptocurrency anytime you need it.
However, it is not advised for a number of reasons:
You don’t have access to your exchange wallet’s private key. Instead, it’s under the authority of the exchange, implying that you don’t truly own your bitcoin.
Hackers and criminals frequently target exchanges. There have been several well-publicized incidents of exchange customers being hacked.
In light of this, the safest option is to store your funds in a secure wallet that allows you to keep control of your private key.
What is the best way to transfer Cryptocurrency from your wallet?
You’ll need a wallet address — or the recipient’s public key — to transmit money from your wallet. These are the addresses:
A lengthy string of numbers and characters in alphanumeric format.
A QR code that may be used in smartphone wallets.
A clickable URL-like web link that immediately unlocks your wallet.
After you’ve obtained this address, you’ll need to:
Go to your wallet and log in.
Send the message.
Enter the wallet address of the receiver. In general, you may only send and receive currencies of the same type, such as bitcoin to bitcoin or Ethereum to Ethereum. Bitcoin cannot be sent to an Ethereum wallet address.
Specify the amount to be transferred, as well as the currency if applicable.
Check for any applicable transaction fees and make sure you have enough coins in your wallet to cover them.
Examine the transaction’s details to ensure that you’ve entered all of the information accurately.
Send the message.
The specific procedure differs based on the wallet brand you pick. Hardware wallet users, for example, must generally connect their device, enter a PIN or password, and physically validate the transaction on the device.
How to Protect Your Wallet
For any crypto owner, wallet security is critical, so keep these ideas in mind to keep your cash as safe as possible:
Before making a decision, do some research. Don’t just go with the first bitcoin wallet you find. Before making a final selection, thoroughly investigate the security features and development team behind a variety of wallets.
Two-factor authentication should be enabled. This basic security feature is becoming more widely offered on wallets. It’s easy to use and adds another degree of security to your wallet.
Choose your password with caution. Make sure your crypto wallet’s usernames, PINs, and passwords are all secure.
Consider a wallet with several signatures. Multisig wallets need the use of more than one private key to approve a transaction, which implies that each transaction must be signed by another user or users before it can be transferred. It may take longer to transmit cash, but the added peace of mind may be worth the slight inconvenience.
Make sure your antivirus is up to date. Antivirus and anti-malware software should be installed on your PC, laptop, smartphone, or tablet. Install a strong firewall on your computer and avoid installing applications from unknown sources.
Glossary: Two-factor authentication
Used by the most secure and trustworthy wallets, two-factor authentication requires a regular username and password combination and another authentication method.
It’s often a PIN code texted to your smartphone, expiring after a set time and different every time you log in. This means that an attacker would need to know your username and password and also have your phone.
Some wallets require you to install a secondary app on your smartphone that generates these PIN codes for you, adding another layer of security.
Keep your wallet software up to date. Update your wallet software on a regular basis to ensure that it has the most recent security improvements and safeguards.
Make a copy of everything. Make a backup of your wallet and keep it somewhere secure so you can recover your crypto assets if something goes wrong, such as if you lose your smartphone.
Make sure the address is correct. Use the right wallet address when sending or receiving payments. Similarly, if you’re using an online wallet, double-check that the URL begins with “https.”
Avoid using public Wi-Fi. Never use a public Wi-Fi network to access your wallet.
Divide your assets. Consider storing your crypto currencies in both online and physical locations. Keep a little amount of your income, for example.
- Private key protection. Never share your private key with anyone. Check whether the wallet you choose allows you to keep full control of your private keys, or if you have to surrender ownership to a third party, such as an exchange.