Provider
Type
Hardware Wallet Compatibility
Security
Our Score
Hardware
YES
Very Secure
Hardware
YES
Very Secure
Hardware
YES
Very Secure
Software
NO
Very Secure
Software
Ledger, Trezor
Secure
Software
YES
SECURE
Hardware
YES
Very Secure
Online
NO
Secure
Software
Ledger, Trezor
Secure

So, you want to get involved in cryptocurrency, but you don’t know what a cryptocurrency wallet is and/or what the best cryptocurrency wallet is? Well, in this article, I will guide you through the advantages and disadvantages of different wallet services – from apps, hardware wallets to website services.

Cryptocurrency wallets are places where all your crypto ‘keys’ (which we will discuss later) are stored. They’re a bit like a vending machine in a public place – anyone can insert money into the vending machine, but only those with the keys to the vending machine can remove the money.

There are loads of different types of crypto wallet services. There are app-based cryptocurrency wallet services, offline services, and web-based services to choose from. By the time you finish reading this guide, you’ll be able to pick the right wallet service for your own individual needs as well as start trading crypto safely and worry-free!

First, let’s find out more about what a cryptocurrency wallet actually is.

Best Cryptocurrency Wallet: What is a Cryptocurrency Wallet?

A cryptocurrency wallet is a software program, online platform or a hardware device that holds the keys you use to send and receive various blockchain cryptocurrency tokens. It literally stores your ‘private’ keys and your ‘public’ keys – the secure way wallets communicate with blockchain cryptocurrency ledgers.

It also lets you look at your cryptocurrency balances. The interface, the way the software looks, helps users to understand their cryptocurrency holdings (how much they have in different cryptocurrencies like Ethereum, Bitcoin or Ripple).

The way blockchain works are that ‘ledgers’ get updated across all ‘nodes’ on the blockchain network. This means all individual ‘ledgers’ are updated at the same time – a wallet doesn’t hold crypto money, but a record of transactions.

Best cryptocurrency wallet: a crypto coin-full wallet.

Note: A ‘ledger’ is another word for a ‘database’. The word ‘ledger’ is much more common than ‘database’ in the crypto world, so you’ll hear it often!

Also: A ‘node’ is what we crypto geeks call the individual computers that run and maintain the blockchain.

Unlike the wallet in your pocket, your cryptocurrency wallet doesn’t store money in the same way a PayPal account stores funds. This is the crucial difference between cryptocurrency wallets and other online money accounts.

The Importance of Protecting Your Crypto

Investing in crypto isn’t easy. You need to get a crypto wallet and deposit money into an exchange to buy different cryptos – and we’re not even going to talk about transfers between banks. There are so many different moving parts, and when they’re working as they should be, investing in crypto can be easy. But if one part stops working, it all stops running.

In the world of cryptocurrencies, your mobile phone, your hard drive or removable storage becomes the bank vault. That is what decentralization has done. By cutting out the middle man (banks and governments), crypto has made people more independent, but this all comes at a risk.

Best cryptocurrency wallet: a man hacking a computer system.

By making you more independent, it also places all the responsibility on you to make sure your cryptocurrency is safe.

Let’s See an Example – Meet Cody

To show you how unsafe crypto wallets can be, I’d like to introduce you to Cody Brown. Cody is a blockchain and crypto writer, investor, and all-around ‘commentator’. Yet, even he managed to lose $8,000 dollars in 15 minutes.

His story should make everyone understand why crypto wallet security is important.

Cody received a text message at 11:31 PM. His cell phone provider messaged him to say he was on the phone with customer services and a new payment method had been added. This surprised Cody, because he wasn’t on the phone to the cell company.

He got worried, so he tried to call his cell phone company, but there was no answer. In real-time, he watched as his phone was cyberattacked. He saw his Gmail account being accessed, and his crypto wallet being hacked.

Best cryptocurrency wallet: a cyberattack.

He saw Ethereum, Litecoin, and Bitcoin being sent from his wallet to the hacker’s wallet address. That's definitely not what you want when choosing your best cryptocurrency wallet.

That’s how fast it can happen! It takes place daily, so you need to know how to protect yourself and keep your crypto safe.

Having a really safe place to store your cryptocurrency is important. Your crypto wallet is your friend when it comes to making your cryptocurrency investments safer. The next section will discuss the advantages and disadvantages of the different wallets available.

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Different Types of Cryptocurrency Wallets 

Do you want to store cryptocurrency on a smartphone, a computer, or offline? There are a lot of different ways you can own a cryptocurrency wallet. This section will outline the different wallet technologies available, and the advantages and disadvantages involved with using them.

Hardware Wallets

Hardware wallets are one of the safest ways to store cryptocurrency investments. They are what is known as “cold storage”. This means it is offline and it is more secure than “hot storage” wallets (like software wallets or web wallets). Therefore, in my opinion, this is the best cryptocurrency wallet type to choose from.

The hardware wallet differs from the paper wallet in that it provides high built-in security. The hardware wallet, which looks like a USB flash drive, has advanced security. This means the device cannot be accessed by people without the correct password. It helps to greatly improve security.

However, remember that hardware wallets have drawbacks as well. If they get corrupted, you may not be able to restore them. What is more, since hardware wallets are physical devices, you might lose them. However, such recommended cold wallets as Ledger Nano S Plus provide you with the word seed that can be used to restore it.

LEDGER TREZOR

Overall Score

9.5
9.4

Wallet Type

Hardware Hardware

Best For

Best for Safely Storing, Sending, and Receiving Different Cryptocurrencies Best for Storing, Sending and Receiving a Wide Range of Cryptocurrencies

Latest Coupons

All Ledger Coupons All Trezor Coupons

Verdict

One of the safest hardware wallets on the market. A leading hardware cryptocurrency wallet.
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Table: The main features of the Ledger Nano S and the Trezor One

Price is another disadvantage. The fees of paper, web or app-based wallets are a lot less than hardware wallets. This is because you’re buying a digital safety. It’s a USB drive with excellent memory and security. They start from $70-$99+, and some cost upwards of $2,000 dollars!

If you plan to trade cryptocurrency with some regularity and would like offline (‘cold storage)’ crypto wallet protection, hardware wallets are a good choice. Remember, this is like owning a safe deposit box. You need to remember the access code because no one else can help you access it if you forget the code.

Ledger Nano S

Note: The Ledger Nano S has been discontinued. The wallet in question has been replaced by the new-and-improved Ledger Nano S Plus

Ledger Nano S is one of the most popular and reliable hardware wallets. It supports more than 1,500 cryptocurrencies and keeps expanding the list. The main reason why Ledger is so recommended is security.

Just like other cold wallets, Ledger Nano S keeps your private keys within the actual device - offline, meaning that there's completely no need to worry about cyber attacks. You also have to select a pin code and get a 24-word recovery phrase that's needed in case you forget a pin or lose your device.

LEDGER NANO X

Pros

  • Can be managed from mobile device
  • Very secure
  • Supports more than 1500 cryptocurrencies
  • Comfortable design

Cons

  • Relatively expensive

Value For Money

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Table: The pros and cons of the Ledger Nano X hardware wallet

Ledger Nano S has an improved version that's called Ledger Nano X. It looks almost the same, however, has a bigger screen and a few additional functions that improve usability. Ledger devices are made of stainless steel that makes them resistant to physical damage. 

Ledger Nano S costs only $59, while Ledger Nano X is more expensive - $119. Even though they come with a price, security should be above it all. 

Trezor Wallet

One of the most recommended hardware wallets is the Trezor wallet. I could call it my best cryptocurrency wallet. It is a “bulletproof” Bitcoin wallet and is hyper-secure — it supports Windows, Linux, Max and has one of the best Android wallet apps available for cold storage crypto investment.

The Trezor hardware wallet has full two-factor authentication, a password manager app, and is compatible with ERC-20 tokens. It also provides cryptocurrency support for a range of different crypto coins, including Dash, Bitcoin, and Ether.

TREZOR MODEL T

Overall Score

9.6

Wallet Type

Hardware

Best For

Best for Easily Control Funds, Manage Balance and Initiate Transfers

Latest Coupons

All Trezor Model T Coupons

Verdict

One of the most-secure cryptocurrency hardware wallets on the market.
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Table: Some general information about the Trezor Model T hardware wallet

It’s easy to use, you plug in the USB adaptor. You connect via the computer and you can reset using the management software included. Total control, total security, and total peace of mind. It’s tiny as well and can fit in the palm of your hand.

Trezor Model T price is costs $169.99. Even though it's relatively expensive, such a price is completely worth it. 

KeepKey

KeepKey is another recommended hardware wallet. It has a huge screen that's protected by a polycarbonate casing and allows you to see the full cryptocurrency address without the need to scroll back and forth.

Being a hardware wallet, KeepKey is really secure. It provides you with a pin code and recovery seeds. What is more, it has this unique feature that switches pin code numbers from time to time, protecting you from malware copying your code. 

KeepKey's pricing is only $49, which makes it one of the most affordable hardware cryptocurrency wallets on the market. 

Software Wallets

Software crypto wallets are “hot wallets”. This means they could be hacked remotely because of internet access. But if you trade in low volumes, desktop software crypto wallets could be the best cryptocurrency wallet for you!

Coinbase

When it comes to Coinbase, the majority of crypto fans know it as an exchange. While that's true, it also has it's own software wallet and can be considered as an online or web wallet (we'll discuss it later in this article).

Even though software wallets are not as secure as hardware ones, the good news is that you can download and use it completely free. Of course, when it comes to buying or selling cryptocurrency, you will need to go through the Coinbase exchange that charges fees for transactions (average of 3.75% per transaction) just like any other crypto exchange (only fees vary).

COINBASE ELECTRUM

Overall Score

9.1
8.2

Wallet Type

Software Software

Best For

Best for Safely Storing Cryptos Best for Day to-Day Spending of Cryptocurrencies

Latest Coupons

See All Coupons of Best Wallets See All Coupons of Best Wallets

Verdict

One of the leading cryptocurrency wallets in the current industry. One of the most trustworthy and oldest Bitcoin wallets around.
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Table: The main features of the Coinbase Wallet and Electrum

Coinbase Wallet versions are available for Apple iOS and Google Android users. If you're making multiple trades per day, you can keep a part of your assets in hardware wallets or the Coinbase software wallet and the other part in the Coinbase exchange that serves you as an online wallet and trade easier. 

Less Recommended Software Wallets 

Electrum

Electrum is available to download for Windows, Mac OS, and Linux operating systems. It's a popular desktop software wallet, but it is also the most technical. If you are new to Bitcoin and crypto, this software might not be the right choice for you.

Best cryptocurrency wallet: the Electrum cryptocurrency wallet.

The biggest advantage of software wallets — like Electrum — is the fee adjustment setting. When the Bitcoin network becomes busy, fees go up as people wait for transaction confirmations to occur. Electrum allows users to change the transaction fee to help speed up the transaction.

Exodus

Exodus is a beautifully-designed wallet that supports multi-coin exchanges, including Bitcoin, Ethereum, Litecoin, Dogecoin, and Dash. It allows you to manage your keys, presents your investment in easy-to-understand charts and is totally customizable — meaning, you can make it perfect for you.

Best cryptocurrency wallet: the Exodus cryptocurrency wallet.

Software desktop wallets are not suitable for everyone. If you are holding large sums of cryptocurrency, it would be better to use a more secure wallet type, like a paper wallet or a hardware wallet, such as Ledger Nano S Plus and Trezor Model T. The software desktop wallet is better than the web wallet, but it isn’t the best crypto wallet type available.

Mobile Phone Wallets

App-based wallets are incredibly popular. Which one is the best Android crypto wallet or Apple wallet app available? Let's find out.

Binance (Trust Wallet)

Binance is one of the best options when it comes to TOP mobile phone wallets. While Binance is better known as a cryptocurrency exchange, it also has its official mobile app that's called Trust Wallet

Trust Wallet supports more than 40 blockchains, meaning that it supports thousands of cryptocurrencies and tokens. Needless to say, if you cannot find a wallet that supports a specific token, you should check out Trust Wallet. 

Moreover, this cryptocurrency wallet is decentralized and doesn't collect any of your personal data. It has multiple card payment processors integrated into the wallet, so you'll be able to purchase cryptocurrencies without the need to leave the mobile app. 

Less Recommended Mobile Phone Wallets

Mycelium

Mycelium is a mobile bitcoin wallet app that’s really easy to use and convenient. It has a strong history with Bitcoin, and the cryptocurrency industry, as a whole. Launched in 2008, Mycelium has been an early player in the crypto wallet fieldhelping to make one of the best cryptocurrency wallets available.

Best cryptocurrency wallet: the Mycelium Bitcoin wallet.

Mycelium provides its wallet service through an app for smartphone users. It has a very easy-to-navigate user interface (app layout). It is easy to use the tabs that are provided to jump between different tasks — from sending or receiving Bitcoin to looking after your security and settings.

Mycelium provides Hierarchical Deterministic wallet security. HD is a smarter way of protecting the Bitcoin address and the Private Keys by providing an all-in-one Bitcoin wallet security system. Another big advantage is that Mycelium is often mistaken for open source.

But in fact, it uses the Microsoft Reference Source License, which provides limited cover for the technology’s underlying code – helping to keep the technology secure.

The biggest disadvantage of Mycelium is bad customer service and transaction fees. There is very limited customer support and the transaction fees are volatile — they can jump with some paying above market average fees for Bitcoin transaction costs.

Cryptonator

Cryptonator is a really easy-to-use cryptocurrency wallet app. It allows instant and direct cryptocurrency payments and exchanges between different cryptocurrencies — from Dash, Monero to Bitcoin. Cryptonator’s popularity is because of its multi-currency account feature. The app allows you to store, send, receive Bitcoin and other popular coins from the comfort of your mobile phone.

Cryptonator is really big on security — meaning, you can trust the app. It uses bank-grade security technology which means it uses professional security systems. It also uses Encrypted SLL web connection technology using HTTPS Google-approved web connection protocols, along with 2-Factor Authentication and Trusted IP technology to help provide the best app-based security.

Best cryptocurrency wallet: the Cryptonator cryptocurrency wallet.

One of the biggest advantages to Cryptonator is the low Bitcoin transaction/sending fees (around 0.00010000BTC). This is below other crypto wallet providers. This helps make Cryptonator one of the best cryptocurrency wallets services available.

Cryptonator has a bad reputation for customer service. This is a big disadvantage. People are often waiting long periods for money to transfer and this can create problems when people get in touch with customer services — the wait and uncertainty doesn’t help.

Copay

Copay was developed by Bitpay, which has made it incredibly popular. It is a wallet that has pure ‘convenience’, which means it is very easy to use! The layout — the way the app works and how the user goes about using it — is very simple.

The biggest advantage of the Bitpay Copay app is that it has very good securityand strong privacy settings –, which means you can trust the app. It uses state-of-the-art HD-multi-signature technology from Bitpay. It is also designed for sharing. This is what makes it the best crypto wallet available – you can share easily with friends and family, just like a joint checking account!

The HD technology that Bitpay uses means you can restore your wallet if anything goes wrong. This is the best choice for Apple users over other types of wallets. It is also the best Android crypto wallet available as well.

Best cryptocurrency wallet: the Copay cryptocurrency wallet.

The only disadvantage is with customer service (we’re seeing a pattern here, aren’t we?).  This is a problem with all app/web-based providersmany are tiny companies and with hundreds of thousands of users, so customer service is an issue.

Overall, what we have found is that phone-based crypto wallets can be very useful. There are problems with security, but wallets that use HD and 2FA technologies are really safe. They use sound security systems and provide reasonable support. The biggest problem is customer service — all of the examples above have quite mediocre customer service.

Mobile wallets are definitely very useful for on-the-go, but are they the best cryptocurrency wallet type? Let's check out the others first before deciding.

Jaxx Liberty

Jaxx is rich in all kinds of features, the rebranded version of the previous Jaxx is suitable not only for mobiles but also desktop with web extensions.

Unlike previously mentioned wallet disadvantages, Jaxx Liberty's customer support is one of its advantages. Well-trained professionals are there to make user's experience even smoother.

The wallet allows you to customize and adjust to only show the tokens and coins you want, not all of them at once. The interface is designed in a way to help you understand numbers through diagrams, dashboards, and charts.

Best cryptocurrency wallet: Jaxx.

In order to keep all your crypto belongings safe, Jaxx Liberty gives you full control over your keys and you can import or export from or to your other wallets. That means that everything depends on you, and the wallet does not include itself in the process and has no responsibility for your actions.

Just like any other wallet, Jaxx Liberty also applies fees to your transactions. Although it is worth to mention that these fees are not collected by the wallet itself, they are sent to the miners in the network.

In conclusion, despite the fact that there are no 2-FA features, Jaxx Liberty is definitely worth your attention. A user-friendly interface and well-trained customer support will answer all your questions immediately.

Web Wallets

Web wallets aren’t totally secureyou never get access to your own private keys. At best, they are a temporary place of moving crypto from one place to another. However, it's crucial to mention that it all boils down to the question - how much do you trust a provider? 

Kucoin

One of the most reliable providers is Coinbase. As previously mentioned it has both software and online wallets. Kucoin is a popular online crypto exchange that allows you to buy and sell cryptocurrency with fiat money (USD, EUR, etc.). When you buy your crypto on Coinbase, it is stored in a Coinbase web wallet.

The bad thing about web wallets is that they are much riskier than software walletsif Coinbase’s server is hacked, you could lose all your cryptocurrency. However, as far as it's known, Coinbase has never been hacked before.

Best Cryptocurrency Wallet

In the past few years, Mt. Gox and Coincheck, two major crypto platforms, were hacked. During these hacks, hundreds of millions of dollars’ worth of cryptocurrency was lost. People lost their crypto and Mt. Gox company went bankrupt.

Therefore, if you choose to store your cryptocurrencies in online wallets, you should at least pick a provider that you trust. Coinbase is one of the most reliable options. 

To be clear: I would never recommend leaving your cryptocurrency on an exchange!

Paper Wallets

Paper wallets are one of the safest ways of securing your cryptocurrency - they are are an offline way of holding a cryptocurrency. Put simply, it is literally printing off QR codes that represent your public and private keys. This offline safety net means you have absolute control over your cryptocurrency investments. This is one of the best cryptocurrency wallets format available!

However, paper wallets aren’t suitable for everybody. If you trade daily or weekly, having paper keys will become very difficult to manage — you’ll be using a lot of QR codes.

The paper wallet is best suited for the long-term cryptocurrency investor. If you plan to buy big, over the long term, using paper wallets could provide you with the ultimate peace of mind, as it is one of the safest ways to store your cryptocurrency!

Best cryptocurrency wallet: Bitcoin paper wallet.

Services like BitcoinPaperWallet.com allow users to print Bitcoin paper wallets for the best offline Bitcoin storage solution. You can buy a tamper-proof offline paper wallet with full QR code availability. Services like BitcoinPaperWallet.com can provide long-term Bitcoin investment security.

You should note that paper wallets need to be stored safely. Any water, environmental or fire damage could result in the full loss of your crypto. You could lose everything — but this is true with all wallets, if they get hacked or lost.

It is about being responsible – looking after your codes. We recommend storing a copy of your paper wallet with a trusted family member if possible. This way, you have a backup of your private key if your original is lost or damaged.

Compare Crypto Wallets Side by Side With Others

Did you know?

Ever wondered which crypto wallets are the most secure for your crypto assets?

See & compare TOP crypto wallets side by side

Conclusion & Recommendations

This guide has attempted to bring together all the different wallets available for cryptocurrency investors. Every crypto investor, trader, and the user will need a wallet, so it's up to you to choose your best cryptocurrency wallet.

What we discovered was that “hot walletsare not 100% safe they’re only good for small trades. Examples of “hot wallets” include Desktop Software Wallets and App/Web-based Wallets. "Cold wallets", on the other hand, are much better for holding cryptocurrency long term. Examples of cold wallets include paper and hardware wallets.

LEDGER COINBASE

Security Level

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Very Poor
Average
Excellent
|
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Very Poor
Average
Excellent

2FA Two-factor Authentification

Multi-signature

Pin Code

Anonimity Level

|
|
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Very Poor
Average
Excellent
|
|
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|
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Very Poor
Average
Excellent

Backup Type

24-word Recovery Phrase Seed Phrase

Private Key Owner

You You

Full Wallet Control

|
|
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No
Partial
Yes
|
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No
Partial
Yes
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Table: The security features of the Ledger Nano S and the Coinbase Wallet

Here's the list for the best cryptocurrency wallets that we included in this article: 

I believe hardware wallets are the best crypto wallet type, with paper wallets not far behind!

Make sure to think about wallet security before you end up as a victim and get your wallet hacked as Cody Brown did! You don’t want your hard-earned cryptocurrency stolen, do you? Take responsibility, use good wallet services and keep your cryptos safe!

1. Ledger Nano X Review

Ranks #1 out of 10 Crypto Wallets

Verified Staff Pick

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Expiration date: 05/12/2022
3118 People Used
Only 46 Left
Rating
5.0

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...or read our Ledger Nano X review

2. Trezor Model T Review

Ranks #2 out of 10 Crypto Wallets

Verified Staff Pick

30% OFF TREZOR

Trezor Black Friday Sale

Hurry up if you want to catch the biggest Trezor sale this year - Trezor Black Friday! You can now save 30% on hardware Trezor wallets & accessories.

Expiration date: 05/12/2022
4726 People Used
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Rating
5.0

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3. Ledger Wallet Review

Ranks #3 out of 10 Crypto Wallets

Verified Staff Pick

FREE $30 IN BTC

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Expiration date: 05/12/2022
3118 People Used
Only 46 Left
Rating
5.0

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Compare Crypto Wallets Side by Side With Others

Did you know?

Compare Crypto Wallets Side by Side With Others

All Crypto Wallets may look similar to you but they're NOT all the same!

Yes! Show me the Comparison Chart

4. Trezor Wallet Review

Ranks #4 out of 10 Crypto Wallets

Verified Staff Pick

30% OFF TREZOR

Trezor Black Friday Sale

Hurry up if you want to catch the biggest Trezor sale this year - Trezor Black Friday! You can now save 30% on hardware Trezor wallets & accessories.

Expiration date: 05/12/2022
4726 People Used
Only 58 Left
Rating
5.0

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5. Complete ZenGo Wallet Review

Ranks #5 out of 10 Crypto Wallets

6. Coinbase Wallet Review

Ranks #6 out of 10 Crypto Wallets

Verified Staff Pick

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Expiration date: 05/12/2022
4989 People Used
Only 11 Left
Rating
5.0

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7. Binance Wallet Review

Ranks #7 out of 10 Crypto Wallets

8. KeepKey Review

Ranks #8 out of 10 Crypto Wallets

Verified Staff Pick

1 Year Warranty

For Keep Key Hardware Wallet

Use this Black Friday Keep Key Coupon to get a 1 year warranty on your Keep Key wallet. Feel safe & secure about your purchase!

Expiration date: 05/12/2022
1638 People Used
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Rating
5.0

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9. Robinhood Crypto Wallet

Ranks #9 out of 10 Crypto Wallets

Verified Staff Pick

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Expiration date: 05/12/2022
1976 People Used
Only 24 Left
Rating
5.0

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10. Electrum Wallet Review

Ranks #10 out of 10 Crypto Wallets

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VS
Ledger Nano X
LEDGER NANO X
Trezor Model T
TREZOR MODEL T
9.8
9.6
VS
Ledger
LEDGER
Trezor
TREZOR
9.5
9.4

TOP3 Most Popular Coupon Codes

Verified

FREE $30 IN BTC

Ledger Black Friday Deal
Rating
5.0
Verified

30% OFF TREZOR

Trezor Black Friday Sale
Rating
5.0
Verified

Save 10%

On Ledger Backup Pack
Rating
5.0

Recent Best Cryptocurrency Wallet User Reviews

5.0/5.0 - Trezor User
2022-12-01

New customer

I decided to try out the older Tezor wallet to figure out if this device would work out for me. Next month I will upgrade to Model T!

Evaluation
Price value
Ease of Use
Experience
Features
Safety
4.4/5.0 - Ledger Nano X User
2022-12-01

price is justifiable

considering the fact that nano x is an upgraded model s version, i don't mind paying more. also, currently their main competitors charge similar prices even though none of them are as functional.

Evaluation
Price value
Ease of Use
Experience
Features
Safety
5.0/5.0 - Trezor User
2022-12-01

Secure storage

Hardware wallets are the most secure in my opinion. I don't understand the hybrid ones that you can trade on...

Evaluation
Price value
Ease of Use
Experience
Features
Safety
4.4/5.0 - Electrum User
2022-11-30

Feeling concerned

Open source sounds cool. Even better when it is in a context of a game on an app. It concernes me that anyone can access the code on this platform - i feel unsafe and as if they could deny me an access to my money or something similar.

Evaluation
Price value
Ease of Use
Experience
Features
Safety
4.8/5.0 - Trezor User
2022-11-28

BEST

Safest wallet I have used, was difficult to set up, but worth it anyway

Evaluation
Price value
Ease of Use
Experience
Features
Safety
4.2/5.0 - Electrum User
2022-11-28

App

I automatically expected electrum to have a wallet mobile app, it's a shame they don't

Evaluation
Price value
Ease of Use
Experience
Features
Safety
5.0/5.0 - Ledger Nano X User
2022-11-27

No bad words

Have no security concerns and just want to compliment the improved interface and design on the physical wallet!

Evaluation
Price value
Ease of Use
Experience
Features
Safety
5.0/5.0 - Ledger Wallet User
2022-11-26

New cryptos on the way

The long list of cryptos the wallet support is impresive, hope the addition process of IOTA will not take too long

Evaluation
Price value
Ease of Use
Experience
Features
Safety
4.2/5.0 - Ledger Nano X User
2022-11-23

Not for beginners

I currently use a different wallet, but still aspire to be experienced enough trader with a flashy portfolio and purchasing Ledger wallet would be the next logical step. Purchasing it now as a beginner, I would be wasting a lot of money and pointlessly flexing :))

Evaluation
Price value
Ease of Use
Experience
Features
Safety
5.0/5.0 - Ledger Nano X User
2022-11-22

Worth it for me!!

Even with few cryptos i have, it is worth purchasing the wallet and storing my funds on this platform

Evaluation
Price value
Ease of Use
Experience
Features
Safety
5.0/5.0 - Ledger Wallet User
2022-11-21

TOP pick

My long time favorite wallet and I have tried many in my trading experience :)

Evaluation
Price value
Ease of Use
Experience
Features
Safety
4.2/5.0 - Electrum User
2022-11-21

Safe trading

Decent security features for login and trading. But i still need to use an offline wallet to store my funds

Evaluation
Price value
Ease of Use
Experience
Features
Safety
5.0/5.0 - Ledger Wallet User
2022-11-19

The BEST cold storage

I have few software wallets that i like to use because they are very convenient, but in order to secure my funds i transfer everything to cold wallets and ledger was the best out of all i have used even with the annoying connection process :D

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5.0/5.0 - Electrum User
2022-11-17

This design in not for me

Learned to use the wallet quickly, but never got used to the platform's design - looks a bit outdated compared to other wallets

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5.0/5.0 - Electrum User
2022-11-14

good security

the 2 factor authentication is a must. i transfered from a wallet that didn't have this measure, so glad this wallet is more focused on protecting user security

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4.2/5.0 - Trezor User
2022-11-09

Too expensive for a beginner

I rushed into buying this wallet in the beginning. Didn't have many cryptos to store as a beginner. Since i attaining more coins, i can easily justify having it.

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5.0/5.0 - Ledger Wallet User
2022-11-09

EASY RECOVERY

Got locked out of my account, due to entering a wrong pin, but it take me much time or effort to recover it!

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5.0/5.0 - Trezor User
2022-11-08

imune to viruses

my trezor wallet withstood the test of all the viruses on my pc that my kids use all the time. its the only computer in the family and fortunately the wallet as well as the cryptos were intact after this incident!!!

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5.0/5.0 - Ledger Nano X User
2022-11-06

trustworthy wallet

I trust ledger's security features enough to access my funds through my smarphone

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4.6/5.0 - Trezor User
2022-11-05

Difficult to use

At first it was consufing to use this Trezor wallet. It was nothing similar i have seen or used before, so many hours were spent reading the manual, online reviews and guides untill i finally mastered this device :D

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FAQ

What is the best cryptocurrency wallet?

While wallets are highly preference-dependent, the most secure options are still going to remain paper and hardware wallets. The two types of cryptocurrency storage are going to allow you to retain the utmost security of your crypto coins - much better than, say, keeping them in an online exchange.

Should you use multiple wallets to store your cryptocurrencies in?

In most cases, yes. Diversifying your crypto storage locations adds to the security aspect of it all - if one of your wallets suddenly gets hacked or stolen, you won't lose all of your coins. That said, the majority of your cryptocurrencies should still be kept in a hardware wallet.

What types of cryptocurrency wallets are there?

In total, there are four big types of cryptocurrency wallets - online, hardware, software (app), and paper ones. Each of these types of wallets have their own features, benefits, and shortcomings, and are thus going to be suitable for different types of people, too. Security-wise, paper wallets are seen as the best alternative, while convenience-wise, software and online ones should be your go-to options.

What are “hot” and “cold” wallets?

Hot wallets are those crypto storage pieces of software that maintain a constant connection to the internet. As opposed to that, cold wallets are hardware devices that store your cryptos offline. Safety-wise, cold wallets are considered the best option - since they are always offline, you don’t need to worry about some sort of a hacker stealing all of your cryptocurrency assets.

Are hardware wallets worth investing in?

It depends, but in most cases - yes. If you’re just starting out with cryptocurrency trading and investing, a hardware wallet might be a bit of an overkill - it is generally considered that hardware wallets should be purchased once you have a significant amount of crypto, and want to keep it safe. If you’re an active trader, that can also dissuade the matter even further - trading-wise, software and online wallets are much more convenient.

Can you keep your cryptocurrencies in two or more wallets at a time?

Definitely! It’s also part of crypto storage best practices, too! Most cryptocurrency enthusiasts prefer to have a software and a hardware wallet - the former for easy access and trading, and the latter for safe storage. However, you can also utilize multiple wallets simply in order to make sure that your assets are safe and sound. This way, if one of your crypto wallets becomes compromised, you won’t lose all of your assets.