Compare the Best Crypto Wallets

Compare the Best Crypto Wallets

5 Best Hardware Wallets

Ledger Nano S

$59.00
Top Pick

Ledger Nano X

$119.00

Trezor One

$60.00

Trezor Model T

$180.00

Coldcard

Varies
TypeHardwareHardwareHardwareHardwareHardware
Features– Supports 1,000+ cryptocurrencies
– Compact design
– Bluetooth connectivity
– Supports 1,000+ cryptocurrencies
– Supports 1,000+ cryptocurrencies
– Open-source
– Touchscreen
– Supports 1,000+ cryptocurrencies
– Bitcoin-focused
– Open-source
SecurityOffline storage, PIN protection, physical transaction confirmationOffline storage, PIN protection, physical transaction confirmationOffline storage, PIN protection, physical transaction confirmationOffline storage, PIN protection, physical transaction confirmationOffline storage, PIN protection, physical transaction confirmation
Overall Rating4.5/54.7/54.4/54.6/54.5/5
Known For– Reputation
– Compact design
– support
– Bluetooth
– memory
– security
– user-friendly
– security
– user-friendly
– touch screen
– coin support
– Bitcoin only approach
– security

What are Harward Wallets?

Hardware wallets are physical devices specifically designed to securely store the private keys of cryptocurrencies. Unlike software wallets that run on online devices, hardware wallets are often offline (cold storage), which makes them resistant to online hacking attempts, malware, and other vulnerabilities associated with internet-connected devices.

The essence of a hardware wallet is to provide an extra layer of protection against cyber threats. When you want to make a transaction, you'll connect the hardware wallet to an online device, authenticate the transaction directly on the device, and then disconnect, ensuring your private keys never leave the device and aren't exposed online.

Who are Hardware Wallets Best For?

  1. Long-term Investors: If you're holding a substantial amount of cryptocurrency as a long-term investment, it's prudent to prioritize security. A hardware wallet provides the assurance and safety necessary for significant holdings.
  2. Security-conscious Users: For individuals who prioritize security over convenience, hardware wallets are an ideal choice. The offline nature ensures protection against many cyber threats.
  3. Frequent Travelers: Being compact and portable, hardware wallets are convenient for those who are constantly on the move and want to carry their assets without relying on online platforms.
  4. Technologically Inclined: While many hardware wallets are user-friendly, having a certain level of tech-savviness can help users navigate and understand the intricacies of the device better.
  5. Individuals without Trust in Exchanges: Some users don't feel comfortable leaving their assets on exchanges due to past hacks and security breaches. For them, a hardware wallet offers control and peace of mind.

5 Best Software Wallets

Exodus

Free
Top Pick

Electrum

Free

Atomic Wallet

Free

BRD (Bread) Wallet

Free

Jaxx Liberty

Free
TypeDesktop/MobileDesktop/MobileDesktop/MobileMobileDesktop/Mobile
Features– Built-in exchange
– Supports 100+ cryptocurrencies
– Bitcoin-focused
– Advanced features for power users
– Supports 300+ coins and tokens
– Built-in exchange
– User-friendly
Bitcoin, Ethereum
– token support
– Multi-coin support
– Built-in exchange
SecurityEncrypted private keys, optional hardware wallet integrationEncrypted keys, optional hardware wallet integrationEncrypted private keysLocal storage of keysLocal storage of keys, PIN protection
Overall Rating4.3/54.4/54.2/54.1/54.0/5
Known For– appealing interface
– exchange features
– reliability
– experienced users
– wide coin support
– swap exchange features
– mobile
. user-friendly
– multi-coin support
– exchange features

What are Software Wallets?

Software wallets, often called digital wallets or e-wallets, are applications or software programs that allow users to store, manage, and transact with their cryptocurrencies. Unlike hardware wallets, which are physical devices, software wallets exist purely in a digital form on smartphones, computers, or online platforms. These wallets generate private and public keys for users, facilitating the sending and receiving of cryptocurrencies.

Software wallets can be further categorized into:

  1. Desktop Wallets: Installed and run on personal computers or laptops. They can only be accessed from the device on which they are installed.
  2. Mobile Wallets: Designed for smartphones, offering the convenience of making transactions or checking balances on-the-go.
  3. Web Wallets: Hosted on websites, allowing users to access their funds from any device with an internet connection.

What are Software Wallets?

  1. Daily Traders: Those who need frequent access to their cryptocurrencies for trading or day-to-day transactions might find software wallets more convenient due to their ease of access and real-time functionalities.
  2. Beginners: Many software wallets come with user-friendly interfaces and features that are beneficial for those new to the world of cryptocurrencies. They often include guided steps, easy backups, and built-in exchanges.
  3. Users on the Move: Mobile software wallets are handy for individuals who prefer managing their cryptocurrencies directly from their smartphones, allowing for crypto transactions, even in brick-and-mortar stores that accept crypto.
  4. DApp Users: Some software wallets, especially those on mobile, have integrated DApp browsers, enabling users to interact with decentralized applications directly through the wallet.
  5. Individuals Seeking Free Solutions: Most software wallets are free to download and use, making them accessible to everyone. While there might be fees associated with transactions, there's usually no cost to create and maintain the wallet.
  6. Small to Medium Holdings: For those not holding a substantial amount in cryptocurrencies or using them for regular smaller transactions, software wallets strike a balance between security and convenience.

5 Best Web (MEW-like) Wallets

MyEtherWallet

Free

MyCrypto

Free
Top Pick

MetaMask

Free

Coinbase Wallet

Free

Guarda Wallet

Free
TypeWebWeb/DesktopBrowser ExtensionWeb/MobileWeb/Desktop/Mobile
Features– Ethereum and ERC-20 – token support
– Hardware wallet integration
– Ethereum and ERC-20 – token support
Forked from MEW, offering similar features
– Ethereum and ERC-20 token support
– DApp browser for Ethereum-based applications
– Multi-coin support
– DApp browser and DeFi access
– Multi-platform and multi-currency support
– Built-in exchange and purchase options
SecurityLocal storage of keys, SSL encryptionVarious methods for accessing wallets including hardware supportEncrypted seed phrase storageBiometric authentication, encrypted keysEncrypted backup, secure key storage
Overall Rating4.4/54.3/54.5/54.2/54.1/5
Known For– Web interface
– ERC-20 token management
– Ethereum blockchain
– Ethereum blockchain– Browser extension
. Ethereum DApps
– DApp browers
– DeFi access
– Multi-platform (Web, Desktop, Mobile)
. Support

What are Web (MEW-like) Wallets?

Web wallets, exemplified by platforms like MyEtherWallet (MEW), are cryptocurrency wallets that are accessed and managed via web browsers. They offer an interface for users to interact directly with blockchain networks. Unlike traditional online wallets hosted by exchanges, web wallets like MEW let users retain control over their private keys, often providing options to create, store, and use these keys entirely within the browser or in conjunction with external devices like hardware wallets.

These web wallets are typically focused on specific blockchain ecosystems. For instance, MEW is primarily designed for the Ethereum network and its associated tokens (ERC-20, ERC-721, etc.).

Who are they best for?

  1. Intermediate to Advanced Users: Web wallets often provide a direct interface to the blockchain, which can require a bit more understanding and caution. Users who are familiar with the intricacies of blockchain transactions, gas fees, and smart contracts will find these tools particularly handy.
  2. Ethereum and Token Enthusiasts: Since many of these wallets, like MEW, cater to the Ethereum ecosystem, they're ideal for those deeply invested in Ethereum-based projects, ICOs, or token holdings.
  3. DApp Users: Many web wallets have features or integrations that allow users to interact directly with decentralized applications (DApps) on platforms like Ethereum. This is valuable for those engaged in DeFi projects, gaming, or other DApp ecosystems.
  4. Security-conscious Users Who Pair with Hardware Wallets: While web wallets can be used on their own, they often provide options to connect with hardware wallets. This combination offers the accessibility of a web interface with the security of a hardware device, ensuring private keys never get exposed.
  5. Users Seeking Flexibility: Web wallets often offer multiple methods to access funds – from mnemonic phrases to private keys, to integrations with other software or hardware wallets.
  6. Users Not Wanting to Download Software: For those wary of downloading software or with limited device storage, a web interface provides a convenient solution that's accessible from anywhere with an internet connection.

In conclusion, web wallets like MEW bridge the gap between user-controlled security and online accessibility. They provide a direct gateway to blockchain networks and their associated features. However, users should always remain cautious, ensuring they are on the correct website (to avoid phishing scams) and using secure connections. It's often recommended to use web wallets in tandem with hardware wallets for enhanced security.

Risk Disclaimer

Engaging in securities trading encompasses a significant risk factor. Activities such as margin-driven foreign exchange dealings, off-market derivatives, and cryptocurrency ventures expose participants to numerous risks. These risks encompass factors like heightened leverage, reliance on creditworthiness, minimal regulatory safeguards, and potential market fluctuations. These could profoundly impact the value or liquidity of a currency or its associated entities. Please be aware that the strategies, methodologies, or indicators highlighted in our offerings do not guarantee profits and may even lead to financial losses.

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Our diligent research department delves deep into the examination of an array of features, tools, products, and services, during which we accumulate and verify thousands of data points. Every trading platform offered by a broker, be it in-house or sourced from external vendors, undergoes our rigorous assessment, evaluated on myriad data-centric criteria.

Further, we delve deep into the commission and fee structures of each broker. This includes evaluating bid/ask spreads, with specific emphasis on average spread figures for prevalent forex currency pairings. Our research also covers other trading-associated expenses, such as fees for inactivity or custody, minimum deposit prerequisites, VIP concessions or discounts, and a gamut of other crucial fee-related metrics.

Other pivotal research areas integrated into our evaluation comprise mobile trading feasibility and prowess, the provision of market research and educational resources, and the overarching Trust Score of every broker.

For a more detailed insight into our meticulous research and assessment methodology, please peruse our comprehensive account of our research and testing processes.

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