A cryptocurrency wallet is one of the most important things to look into when you’re just getting into the crypto scene. No matter if you’re just starting out or are already an experienced trader / hodler, though, finding the best wallet for yourself can be challenging! That’s why, in this article, we’ll take a look at some of the best desktop wallets on the market!
Admittedly, the wallets that we’ll be discussing in this particular list are going to be a bit… Interesting. You’ll see what I mean in a second.
Having said that, though, if you are, for a fact, looking for the best Bitcoin desktop wallet (or any other altcoin wallet, for that matter), then you’ve come to the right place - read on, and pick the right option for yourself! Our list today will include:
Why Choose the Best DESKTOP Wallet?
Now, before we hop into the list of the best desktop wallets on the current market, there are a few things we need to figure out beforehand. Naturally, the first thing to look into is rather self-explanatory - the reasoning for why you should be considering desktop wallets, in the first place!
Admittedly, there are quite a few answers to this question, too.
For starters, desktop wallets are considered to be among the safer options of crypto storage as far as hot wallets go. If you’re not aware, hot wallets are those cryptocurrency wallets that are constantly connected to the internet. These include mobile apps, browser-based wallets, exchanges, and so on.
Desktop wallets do fall into this category, too.
What makes them a safer alternative than the rest of the hot wallets, though? Well, think about it: a desktop wallet is a piece of software that’s installed on your computer. This means that things such as private key storage and surface-level security features are dealt with differently than on, say, an exchange-wallet.
On top of that, some of the best desktop wallets are simply a graphical representation of a cold wallet. Admittedly, this is something that you’re bound to see on the list below, too - meaning, the software isn’t an actual wallet, by itself, but rather a graphical UI that showcases the assets that are stored on a particular cold wallet.
We’ll get to that in a bit, though.
Security aside, there’s also a point of convenience, too. The best desktop crypto wallets are going to be exceptionally conveniant - they are going to allow you to check up on your crypto assets, send and transfer them, and even partake in staking or selling activities in just a matter of a few clicks of a mouse button.
Needless to say, that’s very much appreciated! No matter if you’re an active cryptocurrency trader or a dedicated hodler, it’s still functionality that can make your crypto management processes much easier and more straightforward.
Finally, it’s worth mentioning that the best desktop wallets tend to have a wide variety of other, additional features that they provide to their users. The aforementioned staking, security feature adjustments, simple conversions, and so on - surely much appreciated!
Desktop Wallets - Part of the Hot Wallet Group
I’ve mentioned this a tad earlier in this best desktop cryptocurrency wallet list, but desktop wallets fall into the category of hot crypto storage - any software and apps that allow you to store and keep crypto assets in them, while also maintaining a constant connection to the internet.
Hot wallets are, admittedly, among the most popular crypto storing options - if you’d go around some forums and ask other cryptocurrency enthusiasts about their preferred way of securing their cryptocurrency assets, most of them would likely list and name a few hot wallets.
This is mostly due to hot wallet accessibility. Whether it be software-, web-, or app-based wallets, you can usually download them from anywhere in the world, and use them completely free of charge. As you can imagine, this makes hot wallets a very attractive option for a huge variety of individual crypto holders out there.
Furthermore, hot wallets are usually very simple to use. A couple of higher-end exceptions put aside, in most cases, you’ll be able to download (set up) your hot wallet in a matter of minutes, and start using it right after. That’s great!
What to Avoid When Picking a Desktop Wallet
Something else that you should consider when searching for the best desktop wallet for yourself are the factors that make desktop wallets less-than-desirable.
In other words, there are some things that are tell-all signs that you should stay as far away from the wallet as possible.
Naturally, at the top of the list here would be a significant lack of security. I mean, admit it - you probably saw this one coming.
As expected as this might have been, it’s more true now than ever before. With the cryptocurrency industry becoming more and more popular, and blockchain technology being adopted at an increasing rate, there’s also a growing demand for reliable and high-end crypto wallets, too. However, the popularity of the scene does also attract a lot of scammers and unreliable products, too.
This is why it is important to always check on the security features of a desktop wallet first. If it lacks security, you’ll be risking your assets - that’s not something you’d want happening!
To add to that, you should also pay attention to the usability aspects of the wallet, too. Granted that it’s a desktop-based product (service), you’ll want to find a wallet that would be both really simple to use, but also offer you the chance to utilize a wider list of features and benefits.
The best desktop wallets will let you do that, while some of the less-ideal options will be, well… Lackluster.
Finally, be sure to do your research and find the best desktop crypto wallets that would have (perform) constant updates to their firmware, too. Cryptocurrency wallets that have developer support are always going to be so, so much better than those that don’t - this way, a wallet is able to stay ahead of the curve, and implement security features that would guard you against any modern security threats.
With all of that being said, we can finally move on to the list of the best desktop wallets of the current year!
Ranks #1 out of 5 Crypto Exchanges
- + Super secure
- + Protection against physical damage
- + Supports more than 1500 coins and tokens
- - Relatively expensive
Ledger is undoubtedly one of the most popular cryptocurrency wallets on the market - this goes without saying at this point. However, you might be confused - Ledger deals in cold wallets, so what is it doing on a “best desktop wallet” list?
Well, allow me to explain - it actually has to do with the user interface of the Ledger wallets, the Ledger Live.
It is true that Ledger deals in hardware crypto wallets. However, due to its user interface, these wallets could not be excluded from a list like this - it’s simply that good!
To start off, the UI is beautiful - you can change your color schemes and switch between light and dark modes, but no matter which one it is that you pick, the interface is going to look modern and sleek. Everything’s laid out in a very comfortable manner, too - you’ll be able to see your accounts and balances from the home screen, analyze graphs and changes, and even track transactions.
Security is something that you can expect from Ledger, by default. Since the UI in question is connected to two hardware wallets that the company deals in, you’ll receive cold wallet levels of security, by default.
If you didn’t know, cold wallets are the safest crypto storing alternatives on the entire market. With Ledger being one of the leading brands, I guess you can see where I’m going with this.
In regards to the Ledger devices, they are made sturdy & durable, and possess PIN code password requests. When it comes to Ledger Live being one of the best desktop wallets, however, you can expect the same PIN code security with an additional 24-word recovery phrase to help you out of something were to happen to your device or LL account.
Finally, Ledger Live is constantly receiving a vast array of firmware and other updates. These include everything from security improvements, all the way to new feature additions and general quality of life improvements.
If you’d like to try Ledger Live out, you’ll have to purchase one of the company’s hardware wallets. The Ledger Nano S will cost you around $59, while the Nano X is priced at around $119. That said, if you’re looking for the best desktop wallet around, and are willing to invest in the security of your assets, you really can’t go wrong with Ledger!
Ranks #2 out of 5 Crypto Exchanges
- + Top-notch security
- + A very well-known crypto wallet
- + Holds a huge number of cryptocurrencies
- + Constant firmware updates
- - Pricey
- - Has been subject to unauthorised access before
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Trezor is one of the two leading hardware cryptocurrency wallet providers that dominate the market. Same as its main competitor - Ledger -, it’s still featured on this list of the best desktop cryptocurrency wallets, too! This is due to the user interface of the wallet.
To tell you the truth, Trezor should probably compete for the spot of the best Bitcoin desktop wallet - it’s surely one of the most popular places to store your BTC in!
As opposed to many of the desktop wallets out there, Trezor’s UI is actually pretty simplistic. It features all of your assets on the side, and after picking out the one that you’d like to manage, you’ll be granted the option to pick what you’d like to do with it - send, receive, sell, purchase, and so on.
The simplicity of the interface is mostly viewed as a pro - this is especially true if you’re not looking to manage many coins, and are a beginner in the world of cryptos, in general. Trezor won’t overwhelm you with a huge list of extra features and some intricate UI design choices - that’s good!
It’s also impossible to mention Trezor without emphasizing that the company behind the cold wallet - SatoshiLabs - is considered to produce some of the most-secure products on the market.
The Trezor wallets are constantly updated with the latest security features and firmware upgrades. Following that, the wallets themselves have a random PIN code generator - every once in a while, the PIN codes change up. This is done to prevent keylogging, and some other malicious programs from accessing your funds.
If Trezor sounds like the right wallet for your own wants and needs, and the UI of the products looks like the best desktop wallet around, you’ll have two distinct products to pick from. The Trezor One will cost you around $59, while the Trezor Model T (the new-and-improved version of the wallet) costs around $160.
Ranks #3 out of 5 Crypto Exchanges
- + Easy to use
- + Has customer support
- + Multiple cryptocurrency choices
- + A software-based wallet
- + Built-in exchange features
- - Prone to security issues
- - The fees can reportedly be quite high
The Exodus wallet has been making waves in the space of the best desktop wallets. Rightfully so - when it comes to software-based crypto storage that has no hardware device connected to it (or isn’t just a visual representation of your coins that are, for a fact, kept in a hardware device), Exodus is often quoted as being “the way to go”!
The desktop wallet has a few distinct features that may make it an interesting choice for any crypto enthusiasts who are looking for a safe place to store their assets in.
To begin with, Exodus allows you to store a pretty wide variety of cryptocurrencies on it. On top of all of the main coins (ones that lead by popularity and market cap), you’ll actually be able to store a pretty decent number of the more-niche cryptos and crypto tokens, too!
This is great news for those who are looking to diversify their portfolios, and want to do so by researching smaller and lesser-known coins. Exodus will allow you to keep many of them on their wallet - all in a single place!
Something else that makes Exodus one of the best desktop crypto wallets is the fact that it has a built-in exchange. Frankly, you can purchase and sell crypto assets from the comfort of your wallet, without having to transfer your funds to some other exchange or brokerage.
That’s pretty cool! It does save a lot of time, and is surely a comfortable way of trading cryptos!
Security-wise, Exodus is a bit tricky. The wallet does offer rather decent security to its users - anyone who’s looking for the best desktop cryptocurrency wallet should know that you’ll be able to restore your funds if something were to happen to your computer with a built-in back-up feature.
Furthermore, Exodus does also have a recovery phrase feature, too - with it, you’ll be able to recover your funds if you were to lose access to your wallet or, say, forget a password.
That said, some users do claim that Exodus lacks a lot of security features, too. A good example would be 2FA - two-factor authentication. It’s become standard practice in the industry, but alas, the wallet in question does not have the feature.
All in all, though, when you consider all of the pros and cons of Exodus, it surely is one of the best desktop wallets out there! If you’re interested, you can find and check out the wallet here.
Ranks #4 out of 5 Crypto Exchanges
- + One of the oldest Bitcoin wallets
- + Very easy to use
- + Software-based
- + No information is stored on the server
- + Open-source
- + Utilizes two-factor authentication
- - Has had security issues
- - Only supports Bitcoin
Electrum is one of the best Bitcoin desktop wallets in the world. It’s a veteran in the industry - if you’ve held some BTC for a long time, and have researched the best wallets for this particular cryptocurrency before, you have probably heard of Electrum.
This is the first point worth mentioning, too - the longevity of the wallet is a statement of just how good it is! There have been many desktop wallets that have tried to get as much attention towards themselves as possible, but have still failed, in the end. However, Electrum has outlived them all, and can surely propose its veteran status as proof of its reliability.
That’s not the only thing that makes Electrum one of the best desktop wallets on the market, though.
The wallet in question is very simple to use. While it may lack some advanced and fancy features that other desktop-based crypto storage options possess, it will still allow you to perform all of the main functions that you’d expect, while also keeping your coins safe and sound.
Speaking of safety, Electrum’s got that in spades.
The wallet is a very secure solution, especially when it comes to Bitcoin-specific wallets. It does not store any of its user information on their servers which, in return, means that you and you alone are in control of your private keys.
On top of that, the wallet is open-source, too. Anyone and everyone can check on the code behind the wallet, all of its security features, and the like.
The wallet is free to use, allows you to utilize two-factor authentication, and employs passwords and other security measures. It definitely is one of the best Bitcoin desktop wallets on the market - if you’re interested in trying it out, you can check it out here.
Ranks #5 out of 5 Crypto Exchanges
- + Reliable
- + Open source
- + Fast and fluid connections
- + Variety of accounts
- - No desktop version
- - Can be difficult to navigate
Same as many best desktop wallets out there, MyCelium is a crypto-specific wallet. What this means is that it only supports one, specific cryptocurrency - Bitcoin.
This does have its own advantages and disadvantages. It restricts you in only being able to store BTC on the wallet, and having to search for another crypto storage alternative if you have some altcoins. However, MyCelium does, for a fact, provide high levels of security as far as Bitcoin storage goes.
At the same time, though, MyCelium isn’t even a desktop wallet, to begin with - it can only be used on Android and iOS devices. What is it even doing on this list, then? Well, there is one, single feature that makes it a viable pick in a case like this - it supports Ledger and Trezor (hardware wallet) integrations.
In other words, MyCelium is completely compatible with the leading hardware wallets on the market - Ledger and Trezor. This means that you’ll be able to connect your MyCelium wallet with the aforementioned hardware devices, thus further increasing the security of your Bitcoin.
Keeping the hardware wallet user interfaces in mind, MyCelium becomes a pretty decent back-up wallet for Bitcoin, specifically.
If you’re not that keen on connecting the wallet to other devices, or simply don’t want to purchase a hardware wallet, to begin with, you’ll be glad to know that MyCelium offers a lot of great security features on its own. It encrypts all of your data (both any personal data, and also wallet-related information) and hides it both from any third parties, and also from the company itself, too!
You can utilize authenticators and passwords, integrate various payment methods and the aforementioned hardware wallets into your MyCelium account, and even exchange Bitcoin from the comfort of your wallet, too. That’s a lot of useful functionality on a single mobile-based app!
If you’d like to try MyCelium out for yourself, you’ll find the wallet here.
How to Pick the Best Desktop Wallet for Yourself?
Now, as you might have gathered by now, picking out the best desktop wallet can be a bit of a tricky feat. You have your desktop-dedicated wallets, then there are also hardware wallets that support some amazing desktop user interfaces, and even app-based wallets that allow hardware wallet integrations.
All of that can get pretty confusing, especially if you’re completely new to the crypto scene. Worry not, though, since we’re here to figure these things out!
There are a few specific ‘rules of thumb’ that you can follow in order to narrow down the list, and find the right wallet for yourself. The first one of these rules has to do with getting your priorities straight.
What I mean by that is pretty simple - you should sit down, and decide which features of the best desktop crypto wallets are going to be the most important to you. Naturally, you have things like security at the top, but the list can get rather extensive - it’s important to prioritize! By doing that, you’ll be able to narrow your choice pool by quite a bit.
Another thing to think about has to do with the use of multiple crypto wallets. You can, for a fact, use a couple or a few different cryptocurrency wallets for your asset storing needs. This is an especially popular method of storing crypto when it comes to hardware wallets.
Think about it yourself - if you’re an active crypto trader, and are constantly observing the market in order to analyze the best times to purchase and sell some coins, you’d naturally want to use a wallet that would allow you to perform these actions quickly. Hot wallets - including some of the best desktop cryptocurrency wallets - are among the best options in this regard.
However, even in a situation like this, you’d probably want to have a place to keep the bulk of your coins in - coins that you’re not planning on trading, and instead, would like to keep in a secure environment for a later date. This is where hardware wallets come in.
Frankly, a good idea is to use both a desktop-based wallet, and also a hardware one, in conjunction with one another. This way, you’ll be able to receive the best of both worlds - top-tier cold wallet security, and also the leniency and speed that hot wallets provide, too.
You’ve got Your Wallet… What Now?
So, then - you’ve picked out the best desktop wallet for yourself (or even a couple), and are ready to start trading cryptos. Where do you begin, though?
One option is to purchase and sell your cryptocurrencies from within the wallet interface. This, obviously, is very conveniant - it allows you to do everything from the comfort of your wallet, not needing to venture out to some exchange or other trading platform.
This type of crypto trading also eliminates the possibility of human error, too. What I mean is that you won’t need to input wallet addresses onto an exchange, or vice versa - if you were to get even a single symbol wrong, this would basically make your cryptos go to a completely different address, and be lost forever.
That said, using wallet crypto trading features is actually not advised. There are a few reasons why that’s the case, too.
First of all, you will have to provide a lot of information about yourself to the wallet owner company or the exchange platform that they’ve integrated into their product. This is never ideal, since it compromises your security - using a high-end exchange, though, you can be sure that your information is going to be safe and sound.
Furthermore, you should take things such as fees into account, too. Multiple exchanges out there have a wide range of fees and fee models that you can pick and choose from. With wallet built-in exchange platforms, however, the fees are usually much higher than average - you would actually stand to lose a lot more money than by using an exchange!
To put it short, even if you were to use the best desktop wallet on the entire market, it’s still a better idea to do your cryptocurrency shopping on a separate, dedicated exchange.
How to know which exchange you should pick, though? Well, one way of finding out is by taking a look at the top-rated crypto trading platforms on the market, and picking out the one that appears to suit you best!
Coinbase, Binance, and Kraken are platforms that you simply can’t go wrong with. They are reliable, have great user interfaces, competitive fee models, and a wide variety of crypto coins to trade and exchange with.
Naturally, you should do your own research, and find an exchange that’s best for you. However, finding the best desktop wallet is already a huge step in the right direction - once you’ve taken care of the security side of things, everything else should be smooth sailing, from there on out!
We’ve reached the very end of our list of the best desktop wallets of the current year. At this point, you should be able to make the right choice, and pick out the wallet that will suit your wants and needs best.
Once again, though - as you’ve likely noticed, desktop wallets are pretty complicated! Desktop-dedicated storage is difficult to find - at least when it comes to reliable wallets. This is why, oftentimes, one looks at various alternatives - hardware devices that have desktop wallet functionality, apps that integrate with other software or hardware wallets, and so on.
In general, though, whether you’re looking for the best Bitcoin desktop wallet or a place to store any of your altcoins, you should always focus on the aspect of security. If you aren’t sure about a desktop-specific wallet, and fear that it may not be an ideal choice for the safety of your coins, do not use it - it’s not worth it!
|LEDGER NANO X||TREZOR MODEL T|
Table: The software features of the Ledger Nano X and the Trezor Model T
Instead, a better choice is to then find an alternative - whether it be an exchange-based wallet or even a hardware one, it’s much better to pick a different way to store your crypto coins than originally intended, but to be sure of their safety, and have peace of mind!
Finally, as far as trading, buying, and selling crypto assets goes, your best bet is to choose an exchange platform that both has a good reputation within the industry, and is secure and reliable, too. Coinbase and Binance are the two leaders in this regard, but there are surely more amazing options to pick from, too!
With all of that said, I thank you for reading this list of the best desktop wallets, and hope that it was useful to you! Best of luck, and until next time!
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