Last updated on February 15th, 2023 at 10:35 am
There is a very large number of Crypto wallets available for download and use in the market, and choosing one can be hard. Some wallets are specifically designed to store only one type of cryptocurrency and others are designed to store more than one cryptocurrency. It all depends on the particular wallet that one is interested in using or adopting for storage and transactions.
In this article, we have made it easier for you to read about the best crypto wallets that one can utilize in storing and investing in cryptocurrencies.
What is a crypto wallet?
A Crypto wallet is a software/hardware application that is used to store cryptocurrency. However, cryptocurrencies do not exist in any physical nature. Crypto can’t be stored anywhere except on coin wallets.
Below are the top 5 best crypto wallets that one can use in storing and investing in cryptocurrencies:
1. Coinbase Wallet
One of the early pioneers of crypto wallets and has been functioning securely in the present.
Coinbase is a hot crypto wallet that can sell, transfer, buy, and store digital currencies. You can store all your NFTs and crypto coins in one place in Coinbase Wallet.
It supports more than 100 countries that trust Coinbase to sell, buy, store, and earn cryptocurrency. This Crypto wallet can store digital collectibles and NFTs and supports 500+ crypto assets at once.
Year developed: 2012
Coins Supported: 600+ cryptocurrencies, including BTC, ETH, LTC, BCH, DOGE, etc.
Type of wallet: Hot storage
Available Countries: 100+ countries.
- User-friendly interface
- Multi-signature and 2-factor authentication support.
- Provide optional cloud backups which can protect your digital keys.
- High transaction fees
- Limited trading types
This is the best wallet for crypto traders looking for multiple features in their wallets.
This crypto wallet offers special crypto features like Auto-invest, staking, Defi, Futures and Options, and P2P trades (This feature is very outstanding as it simplifies the transaction between two traders who wish to exchange crypto without employing a third party or the use of bank cards directly on the platform). BNB, which is their native coin is among the Top 5 crypto globally and runs on a specific network called Bep-20. This crypto exchange has a Blockchain called the Binance Chain.
Year developed: 2017
Coins Supported: 900+ including BTC, ETH, Doge, etc.
Type of wallet: Hot wallet
Available Countries: USA, UK, Belgium, France, etc.
- Over 1500 cryptocurrencies for trade and Over 65 cryptocurrencies for U.S-based investors
- Wide selection of trading options and order types
- Provides comprehensive charting feature
- Not good customer support.
- Numerous extra services which cause the app to lag in execution.
- delay in execution of the app’s user interface.
3. Trezor Model T
This crypto wallet is the best for those looking for a digital security solution and can be stored on the hardware.
Trezor Model T is a cold wallet designed for crypto traders. With Trezor wallet, you can protect your cryptos, digital assets, and passwords from theft/hacks. It supports more than 1800 coins and tokens and is easily transferable.
Year developed: 2014
Type of Wallet: Cold wallet
Available Countries: Delivered to all the countries
- It offers a color touchscreen. Quite an expensive tool
- Easy to set up
- Provides top-notch security
- It Needs to improve on its customer care support.
- Once physically stolen, can’t be recovered
If you are a desktop user, this is the Best crypto wallet to install in your system.
Exodus is one of the best crypto wallets used to securely manage cryptocurrencies and NFTs included. Its easy-to-use interface has made it very popular amongst new and experienced crypto traders.
Year developed: 2015
Type of wallet: Cold Wallet
Available Countries: Exodus can be accessed from anywhere in the world
- This app is compatible with devices like Trezor Model T, Linux, iOS, Android
- It supports a wide variety of cryptocurrencies
- It has an easy- to use interface
- Exodus gives you total control over your crypto assets.
- It has a good customer support
- The lack of native 2-factor authentication may deprive some users of ha
- Does not provide multi-signature support.
5. Trust Wallet
There is nothing to dislike about Trust wallet because of the security and easy-to-use interface they provide. It is easy to can stake crypto and can carry NFT which can be transferred to any centralized exchange in seconds.
Trust Wallet specifically is built for simplicity, thus allowing users to acquire, send, receive, and stake cryptocurrencies and non-fungible tokens (NFTs) from their phones.
Year developed: November 2017
Coins Supported: 2000+ cryptocurrencies, including BTC, ETH, LTC, BCH, DOGE, etc.
Type of wallet: Hot storage
Available Countries: 100+ countries
- Trust wallet Supports more than 200 thousand cryptocurrencies including NFTs.
- Convenient setup and display on smartphones
- It is easy to buy, stake, and farm cryptocurrency directly in the wallet
- It is susceptible to social engineering and phishing attacks, so the need to secure a passphrase.
- It lacks a good customer support system.
- limited usage with web-based decentralized apps through popular browsers like chrome, brave, etc.