10 Best Crypto Wallets of April 2024 – Money

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Why you should trust us: Reviews at Money are based on our collective knowledge of personal finance and company data, chiefly from primary sources. To create these reviews, we conducted an analysis of 25 hardware, software and web crypto wallets that took into account 20 distinct criteria, some of which varied based on the type of wallet. We spent around 72 hours researching and comparing crypto wallets, reaching out to experts and writing a guide on the topic to provide a full picture to our readers.

Crypto wallets are an essential tool for buying, trading and selling cryptocurrencies. Traders need them to store crypto securely, as well as to protect and validate transaction information. Be it hardware or software, also called hot and cold crypto storage, custom crypto wallets offer traders dedicated solutions compared to those from crypto exchanges.

Read on to learn about the different types of cryptocurrency wallets, how they work, and which one you should pick.

*Some people searching for crypto wallets are looking for a crypto exchange, which is why weve included Public.com in this comparison table. If youre more interested in learning where to buy and sell cryptocurrency, as well as, pros and cons of centralized vs decentralized exchanges, you might consider reading our piece on the Best Crypto Exchanges.

Why we chose it: Coinbase Wallet is our pick as the best hot wallet for beginners because its an intuitive and highly secure wallet backed by a well-known exchange.

Coinbase Wallets user interface was designed to be easy to navigate, with a simple three-tab layout and clearly identifiable functions. The app connects to most major bank accounts and can store popular coins, such as Bitcoin, Litecoin, Dogecoin and BNB, as well as all ERC-20 tokens and tokens on EVM-compatible blockchains.

Its important to make a distinction between the Coinbase exchange and the Coinbase wallet. The Coinbase exchange is one of the oldest and most well-known crypto trading platforms in the US. Holding your digital assets on the exchanges web wallet makes it easier to trade, but leaves your coins exposed to more dangerous cybersecurity threats.

The Coinbase wallet may be used without opening an account with the exchange and it's non-custodial, meaning the private key is stored in your device not in Coinbases servers. This means you dont need to worry about your currencies being locked for any reason or exposed to a cyberattack on the website.

Learn more by reading our full Coinbase wallet review.

Why we chose it: MetaMask is our pick as the best crypto wallet for Ethereum because its user-friendly interface provides quick and easy access to thousands of tokens and decentralized apps (dApps) within the Ethereum network.

MetaMask is one of the most widely used Ethereum wallets, with over 30 million monthly active users. Its straightforward design makes it easy for beginner investors to store and send Ethereum-compatible cryptocurrencies and interact with dApps. You can download MetaMask as a mobile app or as an extension on several browsers, including Chrome, Edge, and Firefox.

MetaMask is also notable for its compatibility with other blockchain solutions. Users can add almost any blockchain network to the app, and the wallet fully supports popular Web3 networks, including Polygon, BNB Chain and Avalanche. Users can also use the wallet to access popular NFT marketplaces like OpenSea, and swap a variety of collectibles.

Learn more by reading our full MetaMask review.

Why we chose it: Trust Wallet is our pick as the best crypto wallet for mobile because it features a clean, scannable app interface, built-in support for dApps and NFTs, and the largest number of supported assets on our list.

Trust Wallet is a popular mobile online crypto wallet and the official mobile app of Binance, one of the leading cryptocurrency exchanges in the world. Despite its links to Binance, the wallet is non-custodial, which means it does not keep your private keys, and the user is responsible for safeguarding them.

One of the wallets greatest advantages is that it supports over 100 blockchains. This is how its able to store such a wide variety of digital assets over ten million coins and tokens, the largest number on our list.

Trust Wallet is also a great mobile option for NFT and decentralized app enthusiasts. The wallet has a built-in Web3 browser, allowing users to access dApps and blockchain games directly through the app. This feature makes buying NFTs easy, as users can look, purchase and store tokens using the incorporated decentralized exchange, all without leaving the app.

Learn more by reading our full Trust Wallet review.

Why we chose it: Electrum is our pick as the best Bitcoin wallet because of its extensive security features and high degree of customizability.

Founded in 2011, Electrum is one of the oldest and most well-known crypto wallets today. Its also one of the few remaining crypto wallets that only deals in Bitcoin, a currency that Electrum is uniquely outfitted to support.

The wallet hosts a variety of robust security features, including 2FA, transaction proof checking, and multi-signature wallet support. Moreover, users can adjust their fees depending on how long theyre willing to wait for a transaction to be completed: Pay more in fees, and your transaction will be executed faster.

One of the wallets greatest assets is that it uses a light client, which can be set up in a matter of minutes and takes up less space than traditional wallet clients on your computer. By using simple payment verification (SPV), the wallet only downloads parts of the blockchain, speeding up transactions without compromising security.

Learn more by reading our full Electrum review.

Why we chose it: BlueWallet is our pick as the best Bitcoin wallet for mobile because of its feature-rich mobile app, simple user interface and integration with the Lightning Network.

BlueWallet is an excellent alternative for Bitcoin traders who cant or dont want to make sense of more complex software on their desktop computers. Its similar to Electrum in that they are both Bitcoin wallets only, which means they can focus entirely on innovating and improving the Bitcoin experience on the platform.

The wallets interface is welcoming and easy to navigate for beginners, but the app also includes a number of additional features that more advanced users may appreciate. In addition to basic functionality like sending, receiving and storing BTC, BlueWallet allows users to send batch transactions and customize fees.

Another big advantage of BlueWallet is its integration with the Lighting Network, a layer two solution that makes peer-to-peer payments much faster than on Bitcoins layer one network. It helps to think of the Lightning Network as an expressway that sits on top of the regular Bitcoin blockchain.

Learn more by reading our full BlueWallet review.

Why we chose it: Exodus is our pick as the best crypto wallet for desktops because of the speed of its transactions, ease of use, and the varied functionality of its client.

Initially a desktop-only wallet, Exodus now has apps for iOS and Android and is also compatible with Trezor wallets, a popular hardware wallet brand. Nonetheless, the desktop wallet application available across Windows, Linux and Mac operating systems is still the wallets core offering and is updated every two weeks.

One of Exodus Wallets main draws is the number of currencies it supports: more than 260 crypto and NFTs, a larger number than many other hot wallets. This includes established altcoins, such as Ether, Litecoin, XRP and Bitcoin Cash, as well as popular meme coins like Dogecoin and Shiba Inu.

In addition to its visual appeal and intuitive interface, the wallet also features a growing number of apps that diversify its functionality. These include apps for live charts, crypto staking and crypto deposits.

Learn more by reading our full Exodus review.

Why we chose it: Crypto.com is our pick for the best DeFi crypto wallet because of its variety of decentralized finance tools, excellent onboarding process and strong security framework.

The Crypto.com DeFi Wallet is an excellent choice for users starting their journey into decentralized finance. Defi wallets give users complete control over their digital assets and private keys. They also have features not available on regular, custodial wallets, including one-to-one crypto swaps and tools for users to earn passive income on the crypto they own.

As with other exchanges that feature both a custodial and non-custodial wallet, its important to make the distinction between the two. You can download the Crypto.com DeFi Wallet and use it for your day-to-day crypto activities without having to create an account on Crypto.coms exchange platform.

Consumers should be aware that decentralized finance products and services carry significant risks and should be engaged prudently.

Learn more by reading our full Crypto.com review.

Why we chose it: KeepKey is our pick as the best cold wallet for beginners because of its affordable price and easy-to-read digital display.

At $78 with free shipping, KeepKey offers robust security and an impressive number of features for a relatively low price. The wallets biggest advantages are control and visibility. Its large display gives extra clarity to every transaction, each one of which must be manually approved using the devices confirmation button.

KeepKey is no slouch when it comes to security, either. It features PIN protection to guard against unauthorized use, supports additional passphrases and can create limitless wallet addresses on a single device. Moreover, it doesnt use a traditional operating system, which means viruses, malware, and key loggers cannot infect the device.

Learn more by reading our full KeepKey wallet review.

Why we chose it: Ledger Nano S Plus is our pick as the best crypto hardware wallet overall because of its large number of supported assets, tight security framework and trading capabilities through the integrated Ledger Live app.

Ledger is one of the most well-known brands in the crypto space, with hardware wallets that are a popular choice among crypto enthusiasts. Its products stand out for using a Secure Element component a type of chip often seen on passports, credit cards and payment systems to provide an extra layer of security.

Its first wallet, the Nano S, was upgraded in April 2022 to the Nano S Plus, which came with an improved display, much greater storage capacity and a USB-C cable port. This upgrade to the Ledger Nano S made an already strong entry-level product even more enticing when compared to its bigger brother, the Ledger Nano X.

The wallet costs $79 (plus tax and duty), a convenient price point that sits comfortably between cheaper and more expensive alternatives available in the market today. Moreover, it measures 2.5 x 0.69 x 0.32 inches and features a 128 x 64-pixel screen, meaning it's easier to carry around and to cycle through your installed apps.

Learn more by reading our full Ledger review.

Why we chose it: SafePal is our pick as the best hybrid crypto wallet because of how smoothly its software and hardware solutions integrate with each other.

SafePal occupies an interesting niche in that you can choose to only use the brands hot or cold wallet solutions. Its available as software in the form of a wallet app or browser extension, and as hardware in the form of several cold wallet models. Naturally, users that have both stand to gain from an added layer of functionality and flexibility.

The flexibility of SafePal is compounded by its support of over 15 languages and 30,000+ digital assets across more than 100 blockchains. Its wallets are also Web3-enabled, which allows users to interact with dApps, trade NFTs across marketplaces and even try their hand at DeFi projects, among other activities.

Along with Ledger, Trezor is one of the two most well-known brands of hardware wallet in the world of crypto. Developed by SatoshiLabs, Trezor was the first hardware crypto wallet, and both of its current models feature excellent security measures and support many assets.

Why Trezor didnt make the cut: Other cold wallet brands outmatch the build and number of supported currencies of Trezors models. We still recommend Trezor for anyone who uses Exodus as their main hot wallet due to their native compatibility.

Learn more by reading our full Trezor wallet review.

Atomic Wallet is a hot storage wallet with plenty of advantages. Users dont need to open an account to use it, customer support is available 24/7 and the wallet supports many assets. One highlight is the Atomic Swap feature, which uses a decentralized crypto exchange housed within the wallet to exchange currencies without third parties.

Why Atomic Wallet didnt make the cut: Despite its many advantages, the Atomic Wallet didnt land on our top list because other blockchain wallets offer better features.

Learn more by reading our full Atomic Wallet review.

Zengo's unique approach to user security makes it a contentious wallet among crypto traders. Through various security tools, including biometric encryption, three-factor authentication, and multi-party computation cryptography, it can operate as a non-custodial wallet but without private keys.

Why Zengo didnt make the cut: Zengo has many noteworthy features, including its simple user interface, support for dApps and NFTs and crypto staking, but the wallets unconventional approach to security kept it from being featured in our top list.

Learn more by reading our full Zengo wallet review.

Coinomi was designed from the ground up as a multi-chain wallet, meaning a crypto wallet that has an address on multiple blockchains, allowing users to send and receive transactions on all of them. The wallet also has strong security features, over 1,700 tradable assets, and offers 168 fiat currency representations readable in 25 languages.

Why Coinomi didnt make the cut: Coinomi did not excel in any of the categories we considered when evaluating crypto wallets. However, we can recommend the wallet for those specifically looking for a multi-chain wallet.

Learn more by reading our full Coinomi wallet review.

Guarda is a user-friendly crypto wallet that offers both web and mobile versions and supports an extensive number of digital assets, making it an excellent choice for those with diversified digital assets. It also boasts a high level of security and privacy as a self-custody wallet that doesnt require any personal information during the setup process.

Why Guarda didnt make the cut: Guarda is a very good crypto wallet but lacks outstanding features that could carve a niche for it in the market. Moreover, the fees on purchasing crypto through the apps integrated exchange are noticeably high compared to other wallets on our list.

Blockchain technology has made digital currency transactions increasingly useful, practical and accessible. However, as the number of crypto users has gone up, so has the rate of cyber theft related to cryptocurrencies. Thats why its important to understand how cryptocurrency works, how it's stored and what to look for in a crypto wallet, whether its digital or physical.

Cryptocurrency wallets, or simply crypto wallets, are places where traders store the secure digital codes needed to interact with a blockchain. They dont actively store cryptocurrencies, despite what their name may lead you to believe.

Crypto wallets need to locate the crypto associated with your address in the blockchain, which is why they must interact with it. In fact, crypto wallets are not as much a wallet as they are ledgers: They function as an owners identity and account on a blockchain network and provide access to transaction history.

When someone sends bitcoin, ether, dogecoin or any other type of digital currency to your crypto wallet, you arent actually transferring any coins. What theyre doing is signing off ownership thereof to your wallets address. That is to say, they are confirming that the crypto on the blockchain no longer belongs to their address, but yours.

Two digital codes are necessary for this process: a public key and a private key.

A public key is a string of letters and numbers automatically generated by the crypto wallet provider. For example, a public key could look like this: B1fpARq39i7L822ywJ55xgV614.

A private key is another string of numbers and letters, but one that only the owner of the wallet should know.

Think of a crypto or blockchain wallet as an email account. To receive an email, you need to give people your email address. This would be your public key in the case of crypto wallets, and you need to share it with others to be a part of any blockchain transaction.

However, you would never give someone the password to access your email account. For crypto wallets, that password is the equivalent of your private key, which under no circumstances should be shared with another person.

Using these two keys, crypto wallet users can participate in transactions without compromising the integrity of the currency being traded or of the transaction itself. The public key assigned to your digital wallet must match your private key to authenticate any funds sent or received. Once both keys are verified, the balance in your crypto wallet will increase or decrease accordingly.

Crypto wallets can be broadly classified into two groups: hot wallets and cold wallets. The main difference is that hot wallets are always connected to the internet while cold wallets are kept offline.

Hot wallets are digital tools whose connection to the internet cannot be severed. Users can access these pieces of software from a phone or desktop computer to monitor their currencies and trade them. Some hot wallets are also accessible through the web or as browser extensions, meaning you can use them on a wide variety of devices.

The greatest advantage of hot wallets is their convenience. Your public and private keys are stored and encrypted on your wallets respective app or website, so unless they're limited to a specific device, you can access them anywhere with an online connection. This ease of access makes them ideal for those who trade more often and are considering spending bitcoins.

Because hot wallets are always accessible online, they also face a greater risk of cyberattacks. Hackers can exploit hidden vulnerabilities in the software that supports your wallet or use malware to break into the system. This is particularly dangerous for web wallets hosted by crypto exchanges, which are bigger targets overall for crypto thieves.

Cold wallets store your digital keys offline on a piece of hardware or sheet of paper. Hardware wallets usually come in the form of a USB drive which lets you buy, sell and trade crypto while its connected to a computer. With paper wallets, your keys may be accessible via print-out QR codes, written on a piece of paper, or engraved on some other material, such as metal.

Cold storage wallets are deliberately designed to be hard to hack. Unless the wallet owner falls for some sort of phishing attack, hackers have no way of obtaining the owners keys remotely. A thief would first have to obtain the USB drive used to access your crypto and then somehow crack its password.

This high level of security may lend itself to mistakes on the part of wallet owners. If you lose your USB drive or sheet of paper and dont have your private key backed up somewhere, youve effectively lost access to your crypto. Compared to hot wallets, which make it possible to regain access through a seed phrase, recovering access on a cold wallet is impossible in most cases due to the two-key security system.

Setting up a cryptocurrency wallet is a generally straightforward process that takes no more than a couple of minutes. The first step is to determine the kind of crypto wallet you want to use since hot wallets and cold wallets have different set up processes. Then, youll need to do the following:

1. Download the wallet. Make sure the wallet is legitimate before downloading any software. Crypto scams are becoming increasingly common and it's important to know if the company behind a wallet actually exists. For web wallets, verify that you are on the correct website and not on a fake version of it built to steal your information.

2. Set up your account and security features. If you are using a non-custodial wallet, this is when youll be given your private key, a random 12 to 24-word string of words. If you lose or forget these, you will not be able to access your crypto. You can enable added security tools, like two-factor authentication (2FA) and biometrics, during or after the set up process.

The process for custodial wallets is a bit more involved, and youll have to undergo a verification process called Know-Your-Customer (KYC) to validate your identity.

3. Add funds to your crypto wallet. For non-custodial wallets, you may have to transfer crypto from elsewhere, as not all wallets allow you to buy crypto with fiat currency directly. As for custodial wallets, youll need to fund them using a credit or debit card before you can purchase crypto, in some cases.

1. Purchase the wallet online. When buying a cold wallet, avoid third-party resellers. Buy the product directly from the developer to avoid issues, such as the device being tampered with beforehand.

2. Install the devices software. Each brand has its own software that must be installed onto the hardware device before it can be used. Make sure to download the software from the companys official website. Then, follow its instructions to create your crypto wallet.

3. Deposit your cryptocurrency. Youll need to transfer crypto into your hardware wallet from elsewhere, such as from a crypto exchange. Some wallets may have an incorporated exchange that allows you to trade crypto while the device is connected to your desktop computer or mobile device.

When looking for the best cryptocurrency wallet, its very important to first ask yourself:

After exploring the above questions, we put together some general suggestions for what to look for in a crypto wallet:

1. Supported currencies - The rule of thumb for supported currencies is the more, the better. Unless you're interested in solely trading Bitcoin in which case you should look specifically for a Bitcoin wallet , we suggest you opt for a wallet that supports at least a few of the more popular altcoins, such as Ethereum, Cardano and Solana.

2. Accessible interface - An accessible, intuitive user experience is always welcome, regardless of whether youre a crypto veteran or a newbie. Look for wallets that dont make you jump through hoops to start basic trading.

3. 24/7 customer support - Although more useful for newer traders, having customer support available throughout the day is always a plus. This is especially true for wallets that undergo frequent updates and may suffer from bugs or visual glitches.

4. Hardware wallet compatibility - Anyone who is seriously thinking about getting into crypto should consider getting a hardware wallet. Even people who dont trade frequently should consider a hardware wallet to safeguard their most important assets. Investors with a hot wallet thats compatible with at least one brand of hardware wallet have an advantage, since they can default to the model(s) supported by their wallet and transfer their crypto back and forth as needed.

Cryptocurrencies are relatively new and an exciting financial asset. The idea of a decentralized currency independent of the banking industry is enticing for many. The wild price swings can be a thrill, and some coins are simply amusing.

Consider the story of Dogecoin. A portmanteau of Bitcoin and Doge, the currency was a hit on Reddit, a popular social network forums site, and quickly generated a market value of $8 million. DOGE hit an all-time high of more than $90 billion after Tesla CEO Elon Musk and Reddit users involved in the GameStop short squeeze turned their attention to it.

For a more sobering example, take a look at Bitcoin the grandparent of all cryptocurrencies. Bitcoin has experienced multiple crashes throughout its lifespan: in its most recent one, the coin reached an all-time high of more than $65,000 in November 2021 before dipping under $20,000 in June 2022. Still, Bitcoin recovered, and it now stands at over $42,000 as of December 2024.

While entertaining, the fact remains that cryptocurrencies are unpredictable assets and should be traded with caution. Its important to consider the following dangers when asking yourself, should I invest in cryptocurrencies?:

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10 Best Crypto Wallets of April 2024 - Money