Wondering what the best cryptocurrency wallet for you is? In this guide, we’ll break down the best software and hardware wallets for investors in 2024.
Quick look: Software & hardware wallets Coinbase Wallet: Best for beginners MetaMask: Best for Ethereum ZenGo: Best for easy account recovery Guarda: Best for cryptocurrency selection Crypto.com DeFi Wallet: Best for DeFi staking Trust Wallet: Best for Binance and Binance.US users Exodus: Best for customer support Ledger: Best hardware wallet for hot wallet integration Trezor: Best hardware wallet for security KeepKey: Best hardware wallet for price The best software wallets Coinbase Wallet Best for Beginners Coinbase Wallet is a mobile app and browser extension wallet made by Coinbase, one of the world’s biggest cryptocurrency exchanges. The wallet allows you to buy crypto directly from Coinbase, easily transfer crypto from your Coinbase account, interact with DeFi protocols, and store hundreds of different cryptocurrencies! Price: Free Cryptocurrencies: Ethereum, Polygon, Bitcoin, Dogecoin, Litecoin, Stellar Lumens, Ripple, and Solana Learn more about Coinbase here. MetaMask Best for Ethereum MetaMask is a popular mobile wallet and browser extension. MetaMask is well-known for its easy-to-use user interface — it’s one of the most popular wallets for investors looking to experiment with NFTs and DeFi protocols on Ethereum.
Unfortunately, MetaMask does not support other blockchains — such as Bitcoin and Cardano.
Price: Free Supported blockchains: Ethereum, ERC-20 tokens, and Layer 2 solutions like Polygon! ZenGo Best for easy account recovery ZenGo is one of the most user-friendly wallets on the market. ZenGo has a killer feature: each wallet has two ‘mathematical secret shares’ — one for the user and one on the company’s server. This means that unlike other wallets, you’ll be able to recover your ZenGo wallet if you lose access to your ZenGo private keys. Price: Free Supported blockchains: Bitcoin, Ethereum, Dogecoin, and more! Guarda Best for cryptocurrency selection Guarda Wallet is available on desktop, mobile, and browsers! Guarda is known for supporting many different types of blockchains and crypto-assets. According to Guarda’s website, the wallet supports more than 400,000 cryptocurrencies! Unlike the other wallets on this list, Guarda currently does not support NFTs. Price: Free Supported blockchains: 50+ blockchains including Bitcoin, Ethereum, Cardano, and Solana! Crypto.com DeFi Wallet Best for DeFi staking The Crypto.com DeFi Wallet is great for investors who are looking to dip their toes in DeFi. The Crypto.com DeFi wallet integrates with your Crypto.com exchange account — allowing you to easily transfer cryptocurrency between the two platforms. The wallet also offers features like staking rewards and an Ethereum gas tracker! Price: Free Supported blockchains: 30+ blockchains including Ethereum, Bitcoin, and Crypto.com blockchain! Trust Wallet Best for Binance and Binance.US users Trust Wallet is a software wallet created by Binance. The wallet offers interoperability with Binance and Binance.US — making it easy to trade and transfer your assets between the Binance exchange and Trust Wallet! Price: Free Supported blockchains: 70 supported blockchains including Bitcoin, Ethereum, Solana, and Litecoin! Exodus Best for customer support Exodus is a beginner-friendly cryptocurrency wallet available on desktop and mobile. Exodus supports more than 300 crypto-assets! The wallet also features an in-built exchange as well as chat and email support for users! Price: Free Supported cryptocurrencies: 364 supported cryptocurrencies including Bitcoin, Ethereum, and Solana. The best hardware wallets Ledger Best hardware wallet for hot wallet integration Ledger is one of the world’s most popular hardware wallets. Ledger supports more than 5,000 cryptocurrencies and can integrate with software wallets like MetaMask and Guarda. Ledger’s cheapest model, the Ledger Nano S Plus, costs $79. Price: $79 for cheapest model Supported cryptocurrencies: Bitcoin, Ethereum, Binance Smart Chain, Cardano, Solana, and 5,000+ more cryptocurrencies! Trezor Best hardware wallet for security Trezor is one of the cheapest hardware wallets on the market — with the Trezor One costing just $69! Currently, Trezor supports around 1,000 cryptocurrencies. Unlike Ledger, Trezor does not integrate with hot wallets. Price: $69 for cheapest model Supported cryptocurrencies: Bitcoin, Ethereum, Binance Smart Chain, Cardano, Solana, and 1,000+ other cryptocurrencies! KeepKey Best hardware wallet for price KeepKey is one of the cheapest hardware wallets on the market. KeepKey wallets are frequently on sale — with the KeepKey Hardware Wallet sold for as low as $49! However, KeepKey wallets only support around 40 cryptocurrencies — meaning it’s not a good choice if you’re looking for storage for altcoins. Price: $49 for cheapest model Supported cryptocurrencies: Bitcoin, Ethereum, Litecoin, and dozens more! What is a crypto wallet?
A cryptocurrency wallet can help you securely send, store, and receive cryptocurrency. Cryptocurrency wallets are often considered to be more secure than cryptocurrency exchanges. Unlike exchanges, only users who hold the wallet’s private keys can sign off on transactions.
How does a crypto wallet work?
A cryptocurrency wallet makes it easy to securely store and transact your cryptocurrency.
A wallet consists of public keys and private keys. Public keys are similar to bank account numbers — they show your cryptocurrency balance without compromising the security of your account. Meanwhile, private keys allow the wallet holder to access cryptocurrency and sign off on transactions.
What type of wallet should I choose?
Not sure what type of wallet is right for you? Let’s walk through the differences between hot and cold wallets.
Hot wallet: A hot wallet is a wallet that’s connected to the Internet. These types of wallets can make it easier to perform specific actions such as trading NFTs and accessing DeFi protocols. Cold wallet: A cold wallet is a hardware wallet that generates and stores your private keys offline. Cold wallets eliminate the risk of someone hacking your online wallet and stealing your cryptocurrency. What to consider when choosing a wallet
Here are a few factors to keep in mind before you choose a cryptocurrency wallet.
Reputation: Unfortunately, scams and hacks are rampant in the cryptocurrency space. It’s important to choose a cryptocurrency wallet with a solid reputation. Purpose: Before you choose a wallet, it’s important to understand why you’re in the market for a cryptocurrency wallet in the first place. The best wallet for you may differ based on your unique needs. For example, a hot wallet like MetaMask may be a good fit if you’re looking to experiment with decentralized protocols, while a cold wallet might be a good fit if you’re simply looking to hold your cryptocurrency for the long-run. Blockchains supported: Before you choose a wallet, take a look at the list of supported blockchains to make sure your crypto-assets can be supported.