The 10 Best Crypto Wallets

Updated on :March 05, 2024
By :Sophia Jayden

As the digital revolution is progressing at an unprecedented speed, the cryptocurrency mystery is fascinating more and more businesses and individuals who are ready to embrace the transformational currencies and finance. The physical cash…that was once seen as the definitive form of money shaping the economic status is now seeing a change spelled by digitization and the underlying technologies like Blockchain. Sooner, in no time, we can see trading in the global pool of markets with decentralized technology as the crypto industry is shelling its tinted image. Cryptocurrency wallet development undoubtedly is gaining more traction with Cryptocurrency diffusing the dysfunction of the capital markets. 

With the progress of cryptocurrencies from cautionary and fictionalized tales of crypto land (where it was called worthless, hyped-up fraud, greater fool theory, etc.) to a status of embracement today with the legitimacy of crypto, there are many today who wonder how to buy and sell cryptocurrency? Here comes the role of Crypto wallets. 

What is a Cryptocurrency Wallet?

Crypto wallets act as a means to transact digital assets based on blockchain. It acts as a payment gateway holding a private key through which one can initiate a transaction. Such cryptocurrency wallets or bitcoin wallet apps facilitate the users to hold complete custody of their digital currencies. It allows users to transact, transfer, and check balances easily. 

Crypto Wallet or Crypto Payment Processor?

For beginners and for individuals who wish to have a complete control of their cryptocurrencies, a Crypto wallet can serve the purpose. For businesses that have multiple transactions on a day-to-day basis, a payment processor can be the right choice.To securely buy, send, and multiply crypto, the Crypto Wallet companies also partner with third-party web3 service providers, and reliable crypto payment processor companies. Such payment gateways serve as a connecting bridge between customers and merchants to accept or transfer the digital payments and choose to get fiat currencies in exchange. Here, a user does not own any wallet, but can use the facility the gateways offer to carry out transactions. Cryptocurrency payment gateway providers will have a wallet to process the payment, and they charge transaction fees. 

The overall cryptocurrency 24 hour trade volume has increased from 1.125.68 billion U.S. dollars in October, 2023 to 1,811.37 billion U.S. dollars in January 2024. This growth is predicted to continue further.

Which Wallet is Best For Crypto?

The crypto wallets come both as hardware and software wallets. The software wallets include; mobile wallets, web wallets and desktop wallets. These are internet-enabled crypto wallet apps, and are termed as hot wallets. The hardware wallets allow users to store and access cryptos via an offline or physical device. They are generally termed as cold wallets. This is a no-network and secured transaction.

This blog aims to help you find the top crypto wallets evaluated by GoodFirms after considering the leading options and the best crypto wallets available today. Dealing with digital currencies through  reliable, licensed crypto wallets that embrace compliance is critical. So, make use of the following ten best crypto wallets for your cryptocurrency storage purpose.

Top Ten Crypto Wallets

top 10 crypto wallets

The following section will broadly discuss top ten cryptocurrency wallets which will include eight software wallets and two hardware wallets. 

The Best Crypto Software Wallets or Hot Wallets:

#1 Speed:

Speed is one of the best bitcoin lightning wallets available today to store, transfer, and transact with bitcoin and stablecoin. Individuals and businesses can accept Bitcoin payments globally anytime and anywhere by leveraging the Speed Bitcoin payment processor. Speed’s free crypto wallet processes every transaction safely and quickly. The platform uses real-time Bitcoin value and conducts every Bitcoin payment transaction at lightning speed. Users can start transacting Bitcoins by just creating an account. There is no transaction fee and hidden cost. Speed Bitcoin wallet app supports over 100 languages and 20+ currencies. It is easy to download the Speed Bitcoin Lightning Wallet app from Android and the Apple Play Store.

speed bitcoin lightening wallet

Key features of the Speed crypto wallet include;

  • Accept Bitcoin payments both in-person and online 
  • Ready-to-use, optimized, and responsive checkout page that can be embedded into any website, including ecommerce, travel, ticketing, billing, and all business. 
  • Scan and pay with a QR code
  • Fast and secure payouts
  • Intuitive APIs and documentation
  • Modular model
  • 24/7 dedicated support from the team
  • Facility to accept payment from a mobile application
  • Single link for multiple Bitcoin payments
  • Pre-built invoices for Bitcoin payments
  • Cash-back rewards on every transaction
  • No-code payment set-up 

Speed is an user-friendly, secure Bitcoin payment processor that enables businesses to accept Bitcoins on their website seamlessly.

#2 Coinbase Wallet:

Coinbase wallet is from the leading cryptocurrency exchange company Coinbase. This free crypto wallet is a self-custody mobile wallet that allows users to store and manage all NFTs from their phone or browser easily. This best software wallet supports several coins, tokens, along with Decentralized finance (DeFi). Users from over 130 countries can buy cryptocurrencies with just a bank account, or any local payment method through coinbase wallet. 

coinbase wallet

With a strong commitment to compliance, Coinbase is one of the leading and the most-trusted crypto platforms that comes with a token monitoring system. As the best crypto wallet, Coinbase wallet puts its users in complete control of the cryptocurrencies, their usage password or the private keys, and data. The private keys are stored in the users’ mobile directly and not with any exchange.

Although the cost to use the coinbase crypto wallet service is free, there is a network fee charge for transactions on cryptocurrency networks.

#3 Trust Wallet:

Trust Wallet is yet another leading crypto wallet that works both as mobile app wallet and desktop browser extension wallet. It is easy to download the Trust Wallet application from the App Store, Google Play, and Android APK. The desktop browser extension can be opened from the Chrome web store. Trusted by more than seventy million users, this best software crypto wallet is a wonderful payment gateway for decentralized Web3 networks and third-party services.

trust wallet

This  self-custody wallet is simple and easy to use. It does not store any information about the user. Users can use the Trust Wallet app to just access a blockchain address and initiate transactions. 

As the best crypto wallet, Trust Wallet supports millions of assets across 100+ blockchains including Bitcoin, Ethereum, Solana, Cosmos, and Optimism. Although the wallet is free to use, the crypto provider charges a conversion and network fee which varies depending on the transaction.

#4 MetaMask:

MetaMask is the best open source browser extension and mobile app Crypto Wallet for managing digital assets easily and securely. MetaMask supports Ethereum and ETH-based tokens like ERC-20, ERC-721, ERC-1155, and so on.

metamask

This leading self-custodial wallet connects easily with DeFi, Web3 apps, NFTs, allowing the users to convert cash to crypto and viceversa seamlessly. All data is completely owned by the user which means MetaMask is a non-custodial or self-custodial wallet. This makes it easy to swap, or bridge, or transfer crypto right from one wallet without any exchange. If the secret recovery phrase is lost, then it cannot be recovered. Different networks and payment methods are available with MetaMask Crypto wallet app. Additionally, it is also possible to receive MetaMask notifications and chat directly right from the browser via MetaMask Snaps.

Currently used by more than 100 million users worldwide, MetaMask is safe and simple to use with decentralized apps.

#5 Electrum:

Developed by Thomas Voegtlin in November 2011, Electrum is a free and open source Bitcoin wallet and comes with two-factor authentication. The software wallet is non-custodial, fast, and supports third-party plugins including multisig services, hardware wallets, etc. Electrum can be used as a mobile wallet, or a desktop wallet or a browser extension wallet. This popular crypto wallet only supports Bitcoin. The server is decentralized, and thus the wallet is always functional with no down-time.

electrum

Some of the key features of Electrum Bitcoin Wallet includes;

  • Encrypted private keys
  • Facility to recover funds from a secret phrase
  • Blazing fast transaction
  • Private keys are not locked-in
  • SPV verification
  • Watch-only option 
  • Multi-signature
  • Third-party plugins

#6 Exodus:

Exodus is yet another best software crypto wallet to deal with blockchain assets, or cryptocurrency. It is available as a Mobile Wallet, Desktop Wallet, and Web3 wallet. It gives the users the facility to explore 260 plus cryptocurrency assets. Users can also sync and swap between mobile and desktop wallet. With just a face or fingerprint scanning, it is easy to manage the wallet. 

exodus

Exodus offers 24/7 online support.With its web3 wallet, users can access a variety of web3 apps, DeFi dApps, manage their NFTs, and dApps across multiple networks, including Ethereum, Solana, BSC, and so on. There is a network transaction fee for every transaction initiated through Exodus.

Exodus is a self-custodial wallet which means, users have complete control over the keys and the secret recovery phrase. The facility to customize profile details, change the language, and choose the fiat currency is easily possible with Exodus software crypto wallet. 

#7 BlueWallet:

BlueWallet is a free and open source Bitcoin wallet available as both a mobile and desktop wallet. Sending, receiving, and storing Bitcoins are simple and easy with this software crypto wallet. Not only this, it also allows users to connect with a hardware wallet and manage the currencies efficiently. Multiple keys, quick transactions, instant push notifications on every transaction, multiple storages, fee estimation, and complete control over the transactions are the key benefits of BlueWallet. This best Bitcoin wallet supports upto 30 currencies, and 30 different languages.

blue wallet

Also, this simple yet powerful hot wallet allows users to create a fake wallet where the users do not wish to disclose their original wallet, and access details. It also works as a watch-only wallet. 

Other benefits of BlueWallet include;

  • Facility to view, label, freeze and then select the cryptocoins 
  • Build transaction with another person - Payjoin
  • Electrum personal server
  • Switch to offline mode
  • Support for ColdCard, ColdVault, PSBT (Partially Signed Bitcoin Transactions)
  • Broadcast a transaction
  • Multi-layer encryption
  • Hierarchical Deterministic (HD) key creation
  • Dark mode for mobile version

#8 Crypto.com:

Currently used by nearly 80 million users in 90 countries, Crypto.com is a software wallet that acts as a non-custodial digital currency brokerage, and an intuitive payment gateway. This best crypto wallet is already integrated into the leading ecommerce players like Shopify, Woocommerce etc., and available in 100 plus markets.

crypto com wallet

Key features of this Crypto.com software wallet includes;

  • Securely buy and sell Bitcoin, Ethereum, and 250+crypto currencies with 20+ fiat currencies. 
  • Crypto.com Visa Card allows users to access and manage funds anytime from anywhere. 
  • Low transaction fees
  • Facility to make the idle assets to work
  • Crypto Earn, On-chain staking, shop and accept payments via Crypto.com Pay, for higher transactions use Pay for Business, Margin trading, derivatives trading, supercharger reward program, trading arena.
  • Price Alerts and Price fluctuation Alerts
  • No fees for exchange of money within the user community
  • 2-Factor authentication
  • Predict and make profit - Strike Option facility for the US users.
  • 24/7 support

Advantages of Using Software Crypto Wallet

  • Easy to access 
  • Free mostly
  • Convenience - no worry to lose as in case of hardware wallet
  • Enhanced security
  • Facility of backup and recovery of the private keys

The Best Hardware Wallets & Cold Wallets:

Hardware wallets are the ideal choice for storing and securing crypto currencies. They are absolutely resistant to online threats. They can seamlessly connect with a  computer or smartphone. Here, we will introduce you to the best hardware wallets;

#9 Ledger: 

Ledger is a hardware wallet popularly used by many to buy, exchange, and manage cryptocurrencies. Here, we will see Ledger’s two most-selling hardware wallets Nano S Plus, and Nano X.

Nano S Plus:

This crypto wallet is Ledger’s most popular hardware wallet that redefines the web3 user experience. It is ideal for beginners who are new to crypto wallets and would like to transact using a safe and secure hardware crypto wallet. Ledger Nano S Plus is the best cold crypto wallet powered by a secure element chip ST33K1M5, along with Ledger's proprietary operating system and high-level security engineering technique having Common Criteria Evaluation Assurance Level  (CC EAL) 6 capable of offering utmost protection of high-value assets like crypto, NFTs, and tokens against significant risks. The device allows users to manage over 5500 coins and tokens, including Bitcoin, Ethereum, Polkadot, Litecoin, XRP, USD Tether, etc. This crypto wallet is ideal for buying, exchanging, and growing cryptocurrencies.

Ledger’s Nano S Plus crypto wallet is lightweight, weighing just 21 grams, which makes it pocket-sized and easy to carry. Upon purchase, the wallet comes in a box that contains one hardware wallet, one USB-C to USB-A cable, one getting started leaflet, three recovery sheets, and one keychain strap. The cold wallet is compatible with 64-bit desktop computers, including Windows 10/11, macOs Big Sur / Monterey / Ventura, Ubuntu LTS 20.4 / 22.04 (excluding ARM Processors), and smartphones (Android 10+).

ledger nano s plus

Ledger Nano X:

Ledger Nano X is again a popular hardware wallet that comes with Bluetooth functionality and is compatible with Ledger Live for iOS. This bluetooth-enabled hardware wallet comes with larger capacity enabling users to transact on the blockchain network using the private key stored in the wallet.The wallet has high-level security measures that completely isolates online hackers. Managing  crypto assets is just easier with Ledger Nano X wallet.

Ledger’s Nano X crypto mobile-first wallet weighs just 34 grams. Upon purchase, the wallet comes in a box that contains one hardware wallet, one USB-C to USB-A cable, one getting started leaflet, three recovery sheets, and one keychain strap. This cold wallet is compatible with 64-bit desktop computers, including Windows 10/11, macOs Big Sur / Monterey / Ventura, Ubuntu LTS 20.4 / 22.04 (excluding ARM Processors), and smartphones - Android 9+ and iOS 13+).

#10 Trezor:

Trezor is a hardware Crypto wallet that allows users to safely store, and manage their digital funds offline. This is an open source design wallet that comes with secure element protection - Chip EAL6+, and .96 inches monochromatic OLED screen.

trezor

Trading, and tracking crypto currencies with 8000 plus coins and tokens is easier with Trezor wallet. Once a transaction is initiated, users get a confirmation directly in the wallet. Moreover, tracking the balance, and safeguarding the data with a wallet backup are some of the added advantages of this next-generation hardware crypto wallet. Users can just turn the wallet into a vault with a passphrase and secure element. Seed recovery, 2-Factor authentication are other benefits of Trezor crypto wallet.

The product weighs only 14 grams, and comes with a 180MHz embedded ARM processor. Upon ordering the product is delivered along with the USB-C → USB-C cable, Start-up guide and Trezor stickers.

Advantages of Using Hardware Crypto Wallet:

  • No one else can access the device except the owner. So, if someone steals, it is of no use to the stealer. Users can still access it.
  • Built-in backup security.
  • Facility to store a recovery phrase which is useful in situations where users lose their Ledger device.
  • Facility to use a backup wallet as a standby.
  • Manage more than 5500 crypto currencies
  • Total transparency while transferring crypto 
  • Easy to navigate and verify 
  • Keeps hackers away

What Should You Consider When Choosing A Crypto Wallet?

  • Security is one of the prime concerns, especially when the wallet is a custodial wallet where the service providers manage the data. 
  • Ease-of-use: Wallets should function as the simplest way to deal with digital currencies.
  • Cryptocurrencies supported
  • Features: Staking, swapping, exploring, pop-up notifications, chat, integrations, etc.
  • Cost: It is essential to check whether the wallet is free or if there are any charges involved.

Conclusion:

“Bitcoin is growing up. There is less risk investing in the asset today, so an investor should get paid a smaller return. That is how markets work. The true test of a great investor is whether you can continue to update your mental model and adapt to an ever-changing world,” says Anthony Pompliano, an entrepreneur and technology investor in his The Pomp Letter.

Yes, Cryptocurrencies are getting a solid grip and are only set to firm up their spot in the coming future. More and more businesses are now contacting the leading blockchain development companies to explore the possibilities and integrate cryptocurrency payment into their business. The number of cryptocurrency users worldwide is expected to amount to 992.50m users by 2028. If you are an individual and wish to possess, store, and manage cryptocurrencies, then the above-mentioned top ten crypto wallets should be the great choice. But, if you own a business wish to transact online with merchants, and use cryptocurrencies for your everyday payments and receivables, within the existing financial models, then you need to rely on the best payment infrastructure like Speed. Such payment processors can handle larger crypto transaction volumes.

Sophia Jayden
Sophia Jayden

Sophia Jayden is a senior writer and content marketing specialist. She has 10+ years’ experience in content writing and marketing. Currently, she is a staff writer at GoodFirms, a pioneering B2B research, review and rating platform. For more information about her work, you can reach out and start a conversation with her at [email protected].

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