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TOP-10 Best Cryptocurrency Wallets 2021

Are you thinking of buying cryptocurrency but not sure where to keep it? Everyone knows that crypto coins are stored on crypto wallets, but it is a challenge for an inexperienced person to find the best cryptocurrency wallet. 

You will agree that not all wallets deserve to be trusted since the main problem connected with cryptocurrency is a possibility to steal it by means of hacker attacks.

Good news: this article will tell you about the best crypto wallets on the web, their main features, benefits, and drawbacks for you to find the most reliable platform for your crypto.

10 Best Wallets for Cryptocurrency

Here are the Top-10 Best Cryptocurrency wallets to consider in 2021.

1Ledger (Best Cold Wallet)
2Coinomi (Best for Mobile)
3Exodus (Best for Desktop)
4Coinbase (Best for Buying)
5Blockchain.com  (Best Online Wallet)
6Electrum (Best for Bitcoin)
7Trezor (Ultimate security)
8KeepKey (Hardware wallet)
9BitBox02 (Swiss Hardware Wallet)
10SafePal (Ultra-responsive Hardware wallet)

1) Ledger (Best Cold Wallet)

Platforms: Mac OS, Windows, Linux, iOS, Android
Coins:
1184 (Bitcoin, XRP, Ethereum, Bitcoin Cash, Monero, Dash, etc.)

Pros
Upper hand design.
✅ Reasonable price.
✅ Secure.
✅ Supports multiple coins.
✅ Accepts crypto transfers even being offline.
✅ Ease of use.

Cons
⛔ Not mobile-friendly.

Brief: Ledger has produced the first and the only certified hardware crypto wallet which has been created for token owners for whom the security of their assets is critical. It is the company which has produced 4 wallets which are sold in 165 countries. The hardware wallet can be accessed both from PC and mobile devices since there are free apps to download and install. There are the latest security features which are constantly updated, a possibility to check real-time balances, and multiple counter values supported. Wallet owners can manage the account as well as look through the full transaction history and add new or existing accounts. 

The latest and most advanced model of the wallet Ledger Nano S Experience is a small and compact device with a metal casing. When you plug the wallet into your computer for the first, you will set up a PIN and get a 24-word phrase that serves as a private key to it. When you install the software, it is ready for use. It will take only a couple of minutes to get used to it thanks to the simplicity of its interface.

The wallet is operated by two buttons which can be used for typing your PIN, inputting recovery words, checking your balance, and confirming transactions.

2) Coinomi (Best for Mobile)

Platforms: Mac OS, Windows, Linux, iOS, Android Coins: 125 cryptocurrencies and 382 tokens (Bitcoin, Ethereum, Ripple, etc.)

Pros
✅ Superb security.
✅ Custom and dynamic fees.
✅ Fast and cross-platform.
✅ Streamlined and user-friendly.

Cons
⛔ No support of KYC mechanism.
⛔ Updates of the public code.

Brief: Coinomi is a multi-asset ‘hot’ wallet founded in 2014. It has millions of active users and has never been hacked. There are 168 currency representations to be read in 25 languages and exchanged instantly anytime. The wallet works perfectly both on a computer and mobile devices on all popular platforms. It can also boast support and the biggest ownership for more than 125 blockchains and thousands of tokens. 

The wallet features built-in exchanges, enhanced privacy, one-time backup, and native SegWit. Users can adjust the interface according to their mood and will appreciate the simplicity and comfort of its use.

3) Exodus (Best for Desktop)

Platforms: Windows, Mac, and Linux, iOS and Android
Coins:
100+ (Bitcoin, Bitcoin Cash, Ethereum, Monero, Dash, LiteCoin etc.)

Pros
✅ Built-in exchange.
✅ Technical excellence.
✅ Functional mobile app.
✅ Portfolio management feature.

Cons
⛔ Absence of the web wallet

Brief: Exodus is an anonymous multi-asset crypto wallet. According to the official website, the wallet supports over 100 assets and has both a desktop and mobile version. There is a user-friendly interface which will be clear even for beginners. Apart from standard transactions, it is possible to exchange crypto too.

Since Exodus is a desktop wallet, there is no need to register in it. It is enough to download the software and install it on your computer. Exodus is synchronized with online servers and does not require verification from users.

There are live charts and portfolio of all crypto assets on the platform as well as round the clock customer support to answer all the user questions any time of the day. The portfolio management feature allows seeing all the assets owned at first glance. The mobile version of the wallet is synchronized with the desktop app and allows following the market movement on-the-go. It is also compatible with Trezor hardware wallet for more advanced security of huge crypto amounts.

4) Coinbase (Best for Buying)

Platforms: iOS and Android, Windows, Mac, and Linux
Coins:
20 (Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, TRON, and BAT)

Pros
✅ Crypto holdings are insured.
✅ 2-step verification
for better security.
✅ Secure storage.
✅ Reputable and trusted.

Cons
⛔ A limited number of tokens.
⛔ Not suitable for storing large amounts.

Brief: Coinbase is an online wallet to be created on the popular exchange platform which also offers to buy crypto. Despite the fact that the number of coins supported is not very big, you will easily find the leaders of all ratings there.

Unlike many other online wallets, all the assets owned and stored on the platform are insured that is why this wallet is often compared to a bank. Moreover, you can access your wallet using a web browser on the computer and a mobile application available both on Google Play and App Store. There is even a possibility to earn cryptocurrency by answering questions, solving bounties and participating in communities.

The wallet allows sending and receiving crypto only by indicating the name of the Coinbase wallet holder.

The wallet takes control of all the private keys and offers three types of wallets to create: wallet, vault, and multisig vault. All of them differ in the levels of security applied to the wallet. It is also possible to open a USD wallet on Coinbase too.

5) Blockchain.com (Best Online Wallet)

Platforms: Android, iOS, Windows, Mac, and Linux.
Coins:
Bitcoin, Ether, Bitcoin Cash, and Stellar Lumens.

Pros 
✅ Easy to use.
✅ Great customer support.
✅ The user interface is easy to navigate.
✅ Protects individual privacy.
✅ Possibility to buy and sell crypto directly in the wallet.

Cons
⛔ A limited number of tokens
⛔ Long verification process

Brief: Having entered the blockchain industry as Bitcoin block explorer, the platform has gradually grown into a wallet with the motto ‘Be your own bank!’. There are over 40 million wallets with the transaction volume of $200 billion. There are low commissions and excellent security to prevent the unsanctioned access to your assets. You can choose one of three security levels to protect your account.

Being a web-based wallet, it can be accessed from any device and platform. There are great mobile apps for Android and iOS to access the wallet easily.

Blockchain wallet has a number of features that make it even more appealing. There is a built-in exchange and a ‘Lockbox’ feature to connect the online wallet to a hardware one. Recently, it introduced USD PAX to store digital dollars in the wallet.

6) Electrum (Best for Bitcoin)

Platforms: Android, iOS, Windows, Mac, and Linux
Coins:
Bitcoin

Pros
✅ Fast, safe, and private.
✅ Trusted and widely used.
✅ Integrated with hardware wallets easily.

Cons
⛔ Supports Bitcoin only.

Brief: Electrum is one of the oldest crypto wallets in the market launched in 2011. Now it is considered number-one Bitcoin wallet which takes 10% of all BTC transactions. Being focused entirely on Bitcoin, one of the best features of this wallet is easy integration with major hardware wallets for improved security.

Users can access Electrum through the browser both on a computer and mobile devices and download mobile apps if necessary. The transaction fee has a flat rate of 0.2 mBTC, but in some cases, it can be reduced greatly.

The interface of the wallet is intuitively understandable making it a perfect choice for beginners as well. This wallet is also considered to be one of the most secure ones thanks to the encryption techniques used.

7) Trezor (Hardware wallet for ultimate security)

Platforms:  Windows (version 10 or newer), MacOS (version 10.11 and higher), Linux.
Coins: +100 (Bitcoin, Cashcoin, Litecoin, Emerald, Dash etc.)

Pros
Its touchscreen provides swifter operation.
✅ Supports multiple cryptos.

Cons  
The size of the screen is not convenient for people with big fingers.
It’s expensive when compared to its competitors.

Brief: If you wanted to spend just a little more money to secure your digital assets, look to Trezor’s Model T. The innovative second edition hardware crypto wallet by Satoshi Labs was redesigned for better ease-of-use and security measures.

The largest difference from the original is in the easy-to-use touchscreen interface. The only downside to this is that it is the sole way to interact with the device. The Model T features the same availability of about 500 different coins while adding more layers of security. To even connect your device via USB, you must enter a PIN.

You only get one shot an inputting a PIN, as every time you input it incorrectly you are locked out for some time period to the power of 2. In addition to its mainstream security, the Model T comes with a 12-word seed recovery card that allows you to back up your coins in the event of you forgetting your password.

All in all, Satoshi Lab’s Model T seems to be the favorite, other than its higher price tag.

8) KeepKey (Hardware Wallet)

Platforms: Chrome and Brave browsers. Optimized for MacOS. Not recommended for Windows. 
Coins: Supports the world’s leading cryptocurrencies, such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, Dash, and 46 ERC-20 tokens. 

Pros
Great design.
Intuitive to use.
Competitive price.

Cons
Not very portable.
Supports only 40 assets.

Brief: Another competitor in the hardware wallet space is KeepKey. Created by a subsidiary of the Shaftshift exchange, KeepKey highlights the notable differences its device holds over its competitors.

Launched in 2015, KeepKey noted that its security measures were far stronger than Trezor or Ledger.

We have yet to view anyone brave enough to confirm this notion; however, KeepKey does not have an operating system. Not having an operating system essentially makes a device malware proof.

It’s nearly impossible to infect a device with complicated instructions if that device does not have an operating system.

While security remains an advantage in using KeepKey, a major drawback is the availability of only 35 cryptocurrencies. Still, the device couldn’t be more easy to use by plugging it in one of the USB ports of your computer.

9) BitBox02 (Swiss Hardware Wallet)

Platforms: Windows 7 and later, macOS 10.11 and later, Linux
Coins: Bitcoin, Ethereum, Litecoin, ERC-20 tokens

Pros
Excellent operation via the invisible touch buttons.
Own display for verifying transactions.
Entering the passwords directly on the device.
USB-C port.
Extensive accessories.

Cons
No MultiSig in BitboxApp yet.
So far little supported crypto currencies in the Multi Edition.

Brief: The BitBox02 Bitcoin-only hardware wallet enables you to independently generate and securely store your private keys.  

Minimize the attack surface when hodling your most important asset

Keep your coins secure with BitBox02, which takes minutes to set up. BitBox02’s intuitive design makes it easier than ever to stay in control of your crypto assets. Fully open source, it comes with a secure dual chip design and the source code has been independently audited by security researchers.

You can get Bitcoin, Ethereum, Litecoin, ERC-20 tokens. Just into Bitcoin and nothing else? You can also choose from another BitBox02 option just for Bitcoin buyers.

10) SafePal (Ultra-responsive Hardware Wallet)

Platforms: Windows 7 and later, macOS 10.11 and later, Linux
Coins:
Supported 20 blockchains and 10’000+ tokens

Pros
Good security.
Cheap.
Quick delivery.

Cons
Not very user-friendly.
Lack of company information.

Brief: Looking for a quick and portable option to track and manage your cryptocurrency on-the-go? Be sure to consider the comprehensive SafePal S1 wallet. The size of a credit card, you can easily take your SafePal wallet with you no matter where you travel.

To transfer your coins and tokens, connect to the SafePal app using a local QR connection — no need to risk your coins by connecting to public Wi-Fi or using a Bluetooth device.

Best of all, SafePal offers support for over 10,000 individual cryptocurrency tokens and coins, which means that you’ll enjoy a single wallet for all of your investments.

What is a Cryptocurrency Wallet?

It is a digital wallet which allows its owner to store, receive, and send cryptocurrency. 

How can a wallet be digital? In fact, it is software which performs functions of the wallet making it possible to view the balance and make online transactions.

A crypto wallet is a necessity if you want to own or use cryptocurrency because it is the only platform where you can keep it. Unlike fiat money, you cannot take crypto in your hands, put to the bank account or credit card – the only thing left is to transfer it to the wallet from the platform where you have purchased or received it.

Some of the cryptocurrency wallets have been designed to store and use only one crypto coin, while others are suitable for different tokens. There are wallets to be managed by the owner or ones which are custodial.

The number of cryptocurrencies supported by the wallet means that this platform has access to the same number of specific “public addresses’. These addresses are numbers which characterize every account and are used to receive a certain type of crypto. If you want someone to transfer crypto to your account, you give him or her this public address and coins are delivered to your account address. The wallet has access to your address and shows its balance and allows making transactions.

Every non-custodial wallet owner has a private key to the wallet to be able to manage and operate it, while the keys to custodial wallets belong to the 3rd-party organization (e. g. currency exchange, broker, etc.) and users can access their wallets using the password.

What are the types of Wallets?

The division into types of Wallets depends on several factors including 1) the medium type which is used for wallet storage, 2) who takes control of this wallet, and 3) if any data is stored online in it.  

Some wallets can have characteristics of several types and are considered more universal ones.

When it comes to the basic types of Bitcoin wallets, they can be the following ones:

Hot wallets
1 – Web wallets
2 – Mobile wallets
Cold wallets
1 – Hardware wallets
2 – Desktop wallets
3 – Paper wallets
Multi-signature wallets

1. Hot wallets

This type of wallet is the most popular in the crypto space. Hot wallets are digital cryptocurrency wallets connected to the Internet and are available online or on your smartphone. One of the many reasons why they’re popular is because you can get them at lower prices, if not for free.

1.1 Web wallets

Many cryptocurrency marketplaces offer a free bitcoin wallet upon creating an account. This bitcoin wallet is an app that can be accessed through web browsers and comes with a mobile version.

1.2 Mobile wallets

This type of hot wallet can be installed on smartphones, making it convenient and easy to use. Mobile wallets are straightforward and ideal for those who use BTC for peer-to-peer payments, buy stuff online, pay bills, and transfer money, among other things.

On another note, since hot wallets are accessible online, they are highly susceptible to cyberattacks, which is why choosing a digital wallet is crucial for every crypto owner. It’s ideal to look for bitcoin wallets that have strong security features, like the Paxful Wallet that uses two-factor authentication (2FA) and multisignature technology.

If you want to go for a digital crypto wallet, always check the safety and security level, as well as the reputation of the wallet provider.

2. Cold wallets

Unlike hot wallets, cold wallets can’t be accessed through the Internet. These are physical devices where Bitcoin and other crypto assets are securely stored.

2.1 Hardware wallets

These come in portable devices like USB flash drives or other external devices. Hardware wallets can prevent instant access to your bitcoin funds since they do not require an Internet connection to be accessible. While they are in no danger from being hacked by cybercriminals, they can still be physically acquired by hackers if not kept securely.

If that happens, you can still cling on to the slight chance that hackers won’t gain access to it, since it’ll be locked behind a strong password combination or pin. Still, you wouldn’t want to get anxious from a scenario like that, so better keep your cold wallet in a very safe and secure place, away from anyone you don’t trust!

2.2 Desktop wallets

It is an application which connects the user to the coin’s client and can be accessed from your PC after downloading and installation.

This type of cold wallet is installed on a desktop or personal computer, which provides owners with full control and access to their crypto funds and private keys. Desktop wallets work as an address where a user can either send or receive crypto funds.

2.3 Paper wallets

It is a printed copy of QR code which contains a public and private key. It means that you can make crypto transactions from the paper and do not need to store any digital data about your crypto coin. Sounds very risky, right? Well, it really is. Paper wallets are considered the riskiest form of cold wallets since they can get soaked in or splashed with water, or crumpled and thrown out in the trash, or taken by the wind. However, they’re also known as the most malware-free form of wallet you can ever have.

Since your private keys are printed out on a piece of paper, you won’t need to worry about malware or cybercriminals that can compromise your crypto wallet. However, be sure to keep your paper wallet safe and protected. If you lose your paper wallet and someone finds it, there’s a high chance that you’ll have to say goodbye to your bitcoin funds.

3. Multi-signature wallets

Aside from hot and cold wallets, there are also multi-signature wallets, which enable a group of people to sign documents and transactions, generated through a combination of multiple unique signatures.

It is also important to note the importance of backups for cryptocurrency wallets. Losing your private keys and important wallet information means you’ll also lose your bitcoin funds forever. That’s why it’s important to keep multiple backups to prevent such painful loss.

How to Choose a Cryptocurrency Wallet?

The choice of the cryptocurrency wallet is a very responsible task because any mistake can cost you all your savings. That is why it is important to consider the following points when you decide what crypto wallet to buy.

1. Type of wallet (Hot or Cold)
2. Number of altcoins supported
3. Security
4. Features
5. Simplicity of use
6. Cost

1. Type of wallet

You have already learned that crypto wallets can be of different types, so it is important to answer the question ‘how am I going to use a wallet?’ to understand what exactly is required. 

Hot wallets: Online or so-called ‘hot’ wallets are suitable for keeping small amounts of crypto. They can be accessed both from PC and mobile devices, are usually free but less secure and can be shared with other people. 

Cold wallets: Offline or so-called ‘cold’ wallets are more secure, can keep large sums and guarantee privacy to you. At the same time, you need to pay money for them and would access them not so often like online ones.

2. Number of altcoins supported

If you plan to store Bitcoin, every wallet will support this most popular token nowadays. But more rare altcoins can be not supported by some platforms, so a wallet on them will be useless for you.

3. Security

It is better to prefer online wallets which start with HTTPS, provide 2-factor authentication, are ‘hierarchical deterministic’, and has not been hacked before.

4. Features

Modern wallets can have many features including a multi-signature feature, back up, customer support. Consider which ones are important for you and then make your choice.

5. Simplicity of use

It must be comfortable for you to use the wallet you own. The wallet provider must be transparent and enhance not only its security but also features.

6. Cost

Hardware wallets must be purchased and their cost starts from $50 and higher while Online wallets are usually free of charge and take some fee only for transactions. 

How to Keep Your Wallet Safe?

As afety is one of the main characteristics of a trusted and reliable crypto wallet, it is very important to evaluate several wallets before you decide which one to select. 

If you are interested in keeping your crypto assets in absolute security, follow these tips and you will be more confident in the safety of your funds.

1. Don’t neglect 2-factor authentication
2. Be careful picking a password
3. Prefer multi-sig wallets
4. Update antivirus protection regularly
5. Make regular updates of the wallet software
6. Backup your wallet
7. Check the address before sending funds
8. Never access your wallet via public Wi-Fi
9. Store your holdings on several wallets
10. Keep your private key in a secret

1. Don’t neglect 2-factor authentication

Some wallets offer it as another level of security which can be chosen as an alternative. If a wallet has this feature, enable it undoubtedly.

2. Be careful picking a password

We use passwords on multiple platforms but your password to the wallet must be unique. Moreover, your username, PIN, and password should be strong.

3. Prefer multi-sig wallets

Multisignature wallets require from other users to sign each transaction in addition to the private code use. Naturally, it will take more time to send crypto in this way but your decision will be evaluated by one more person.

4. Update antivirus protection regularly

It is very important to secure your device with the latest antivirus software to prevent any malware attacks.

5. Make regular updates of the wallet software

Modern wallets are constantly improved by their developers so he updates usually have improved security protection.

6. Backup your wallet

Nobody is insured against breaking or loss of the devices, so a wallet backup will be your key to recovering your funds.

7. Check the address before sending funds

Any misprint can cost you a great amount of currency.

8. Never access your wallet via public Wi-Fi

It can open secret information to criminals.

9. Store your holdings on several wallets

It is preferable to keep small amounts of tokens on online wallets and bigger amounts must be stored on paper and hardware wallets.

10. Keep your private key in a secret

Any sharing of such important information as a private key can cost you all your savings in cryptocurrency. It is better to choose wallets which give full control of the keys to the wallet holders.

Conclusion

One of the decisions which should be considered very well before being made is undoubtedly the choice of the wallet for money, especially if it is digital money which can be stored nowhere except for a wallet. The reliability of wallets for cryptocurrency can be checked only with time. There are services which have found approaches on how to protect from attacks and save their users’ assets. That is why this list of the best cryptocurrency wallets includes only reliable websites checked by time and thousands of users from different corners of the world.

Mat

Mat is the founder of cashtipsandtricks and has been working in the financial sector in Luxembourg for the past 10 years and brings his insights as an investor and entrepreneur.

Cash Tips and Tricks 2020 - 2021