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As a crypto trader, we know that crypto wallets are an essential tool for buying, trading, and selling cryptocurrencies. Traders need them to store crypto securely, as well as to protect and validate transaction information. But you can see there are many types of crypto wallets in the crypto market where someone is feeling crypto secure or someone is not.
So Today we shall learn about the best crypto wallet which is secure and why. Read on to learn about the different types of crypto wallets, how they work, and which one you should pick to secure your crypto.
What is a crypto wallet?
Cryptocurrency wallets, or simply crypto wallets, are places where traders store the secure digital codes needed to interact with a blockchain. They don’t actively store your cryptocurrencies, despite what their name may lead you to believe.
Crypto wallets need to locate the crypto associated with your address in the blockchain, which is why they must interact with it. In fact, crypto wallets are not as much a wallet as they are ledgers: They function as an owner’s identity and account on a blockchain network and provide access to transaction history.
What is the best crypto wallet to secure?
These should be the feature of the best crypto wallet-
- The best crypto wallet should be easy to use
- and support a large number of coins and tokens.
- Hot wallets should include strong security tools, like two or multi-factor authentication and multi-signature support.
- Should charge low fees or no fees.
- Cold wallets should be available at a reasonable price point and supported by a variety of hot wallets to facilitate trading.
According to our research, some of the best crypto wallets are listed below which can be preferred for ensuring crypto security.
What is the list of best crypto wallets in the USA?
Here is the list of best crypto wallets to secure your crypto perfectly-
- Ledger Nano S Plus – Best Crypto Hardware Wallet
- Coinbase Wallet – Best for Beginners
- MetaMask – Best for Ethereum
- TrustWallet – Best for Mobile
- Electrum – Best Desktop Bitcoin Wallet
- BlueWallet – Best Mobile Bitcoin Wallet
- Exodus – Best for Desktop
- Crypto.com – Best Defi wallet
- Binance-Best wallet for multiple features
Wallet-1 Ledger Nano S Plus
It is the best crypto hardware wallet. We chose Ledger Nano S Plus as the best crypto hardware wallet because of its large number of supported assets, tight security framework, and trading capabilities through the integrated Ledger Live app.
Ledger is one of the most well-known brands in the crypto space, with hardware wallets that are a popular choice among crypto enthusiasts. Its products stand out for using a Secure Element component — a type of chip often seen on passports, credit cards, and payment systems — to provide an extra layer of security.
- Install up to 100 apps at the same time
- Buy and sell crypto directly through the Ledger Live app
- Verify all transactions with 2-button presses
- Compatible with 50 other hardware wallets
- More expensive than its original entry-level wallet
- A custom operating system is not open source
Wallet-2 Coinbase Wallet
Coinbase Wallet-We chose Coinbase Wallet as the best crypto wallet for beginners because it’s an intuitive and highly secure wallet backed by a well-known exchange. Coinbase Wallet is an excellent wallet for beginners with little to no experience with crypto. 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.
- User-friendly interface that is easy to navigate
- Supports more than 5,500 digital assets
- Multi-signature and two-factor authentication support
- Backed by a reputable trading platform that is able to recoup lost or stolen assets
- Similar security issues and weak points as other hot storage alternatives
- Only available on mobile and tablet devices (except for Chrome extension)
We chose MetaMask as the best crypto wallet for Ethereum because its user-friendly interface provides quick and easy access to thousands of tokens and decentralized apps 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 straightforward design for beginner investors looking to store and send Ethereum-compatible cryptocurrencies and interact with decentralized apps (dApps).
- Intuitive interface design on browser extension and app
- Can be linked to NFT marketplaces
- Supports thousands of dApps
- Fees to buy Ether can be high
- Cannot directly store Bitcoin
We chose Trust Wallet as the best crypto wallet for mobile because it features a clean, scannable user interface, built-in support for dApps and NFTs, and the largest number of supported assets on our list.
Trust Wallet is a popular mobile online crypto wallet and the official mobile app of Binance, one of the leading cryptocurrency exchanges in the world. Despite its links to Binance, the wallet is non-custodial, which means it does not keep your private keys, and the user is responsible for safeguarding them. It supports over 40 blockchains, which is how it’s able to store such a wide variety of digital assets — over 4.5 million coins and tokens, the largest number on our list.
- Supports a vast range of coins and tokens
- Earn interest on one of 12 different cryptos
- Simple and easy-to-use interface
- Built-in Web3 browser
- Owned by Binance, which has faced regulatory issues in the U.S.
- Educational resources on coins and tokens are limited
We chose Electrum as the best Bitcoin wallet because of its extensive security features and a high degree of customizability.
Founded in 2011, Electrum is one of the oldest and most well-known crypto wallets today. It’s also one of the few remaining crypto wallets that only deals in Bitcoin, a currency that Electrum is uniquely outfitted to support.
The wallet hosts a variety of robust security features, including 2FA, transaction-proof checking, and multi-signature wallet support. Moreover, users can adjust their fees depending on how long they’re willing to wait for a transaction to be completed: Pay more in fees, and your transaction will be executed faster.
- Fast and easy to set up
- Greater security than other hot wallets
- Customizable transaction fees
- Wallets don’t suffer downtime thanks to server configurations
- The setup and interface are not ideal for beginners
- No customer support via chat, email, or phone
We chose BlueWallet as the best bitcoin wallet for mobile 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 make sense of more complex software on their desktop computers. It’s similar to Electrum in that they are both bitcoin-only wallets, which means they can focus entirely on innovating and improving the Bitcoin experience on the platform.
- Modern design with an accessible user interface
- Supports both on-chain and lightning transactions
- Create or import multiple wallets
- Multi-signature vaults for added security
- No two-factor authentication
- Advanced tools could use in-app tutorials
We chose Exodus as the best crypto wallet for desktops because of the speed of its transactions, ease of use, and the varied functionality of its client.
Exodus is one of the most visually appealing and intuitive wallets on the market. Initially a desktop-only wallet, Exodus now has apps for iOS and Android and is also compatible with Trezor wallets, a popular hardware wallet brand. Nonetheless, the desktop wallet application — available across Windows, Linux, and Mac operating systems — is still the wallet’s core offering and is updated every two weeks.
- Supports over 280 crypto assets
- Compatible with Trezor One and Trezor T hardware wallets
- Allows users to buy Bitcoin with Apple Pay
- 24/7 customer support
- High transaction fees on the in-wallet crypto exchange
- The lack of native 2-factor authentication may bother some users
- No multi-signature support
We chose Crypto.com as the best Defi crypto wallet because of its variety of decentralized finance tools, excellent onboarding process, and strong security framework.
The 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 private key, which they are responsible for safekeeping. This type of wallet also has features not available for regular, custodial wallets, including one-to-one crypto swaps and a wide range of tools for users to earn passive income on the crypto they already own.
- Choose your preferred trading fee and confirmation speed
- Over 250 coins, including BTC, ETH, CRO, ATOM, DOT, and LTC
- Earn interest on more than 40 cryptocurrencies
- Funds are inaccessible if you lose your private key and recovery phrase
- Built-in token swap has some geo-restrictions
This crypto wallet offers leading crypto features like Auto-invest, staking, Defi, Futures and Options, and P2P trades. Their average 24-hour trading volume is worth $100 billion, crediting users’ trust in their system. Their native coin, BNB, is among the Top 5 crypto globally. This crypto exchange has a Blockchain called the Binance Chain.
- Over 1500 cryptocurrencies for trade and Over 65 cryptocurrencies for U.S-based investors
- Affordable fees
- Wide selection of trading options and order types
- Provides comprehensive charting feature
- Not good customer support.
What crypto wallet should I use?
The crypto 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 currency. If you are a beginner in the crypto market, we recommend sticking to Coinbase Wallet, our best crypto wallet for beginners, or Trust Wallet, our best crypto wallet for mobile.
How We Chose the Best Crypto Wallet?
We looked at over 25 crypto wallets and evaluated them based on security, functionality, and cost. Because crypto wallets come in hot and cold varieties, we considered different factors for each. For instance, the cost of using a hot wallet is hard to establish due to variable exchange, network, and wallet fees, but cold hardware wallets are physical products that you must buy at a store.
The wallets included in our list scored high in the following categories:
Safety – Safety is our top concern when dealing with crypto wallets. We favored wallets with two or multi-factor authentication, biometrics, multi-signature support, open-source code, and strong security protocols for transactions.
Features – For features, we considered the general functionality of each wallet. Wallets with a larger number of tradable assets, live charts, staking and lending capabilities, and hardware wallet compatibility scored higher with us.
Cost – The cost of a crypto wallet depends on the type of wallet. We favored reasonably priced cold wallets and hot wallets with exchanges that charge less for processing transactions. We also considered wallets with customizable transaction fees.