Worldcoin is an ambitious project with a groundbreaking approach to digital identity. It aims to leverage state-of-the-art iris scan technology to offer users a unique and secure way to participate in the digital economy without compromising their privacy. If you are also intrigued and want to invest in Worldcoin, you will need a Worldcoin wallet (any crypto wallet that is WLD-compatible) to start with. This guide will help you find the best Worldcoin wallets in 2024, considering security, ease of use, and features.
Methodology
BeInCrypto’s methodology for choosing wallets for Worldcoin storage was primarily based on autonomy (self-custody), security, user experience, and the ability to participate in the DeFi/NFT/DApp ecosystems. We assessed each wallet based on its features, security measures, ease of use, support for multiple cryptocurrencies, and integration with DeFi platforms. Our BeInCrypto product teams also tested each wallet over a six month period. Here’s what we found:
Coinbase Wallet
• Coinbase Wallet is perhaps one of the easiest-to-use WLD wallets around. That makes it an excellent choice for newcomers and experienced users alike.
• Coinbase has always been a force to reckon with when it comes to security. The Coinbase Wallet also echoes that commitment to security with sophisticated features such as secure enclave technology.
•The wallet connects with the Coinbase exchange, giving you access to its deep liquidity.
• Supports a broad spectrum of cryptocurrencies and tokens, including both fungible and non-fungible assets.
• While it offers strong security, Coinbase Wallet may have to face slightly higher transaction fees and potential delays in customer support.
• MetaMask is primarily built for the Ethereum ecosystem and it supports EVM-compatible networks like Ethereum Mainnet, layer-2 scaling solutions like Optimism and Linea, and even sidechains like Polygon.
• MetaMask can be Initially challenging for beginners, but becomes intuitive with familiarity.
• It offers direct access to an extensive range of DeFi and blockchain applications.
• MetaMask is highly regarded within the crypto community for its reliability.
• The only bone of contention you might have is that it is somewhat susceptible to phishing if you’re not careful and dependent on browser extensions, posing security risks.
OKX Wallet
• OKX Wallet enables trading across multiple blockchains, which makes it pretty versatile.
• It integrates with DeFi protocols for yield farming and manages NFTs efficiently.
• It provides a direct link to the OKX exchange, thus facilitating exciting trading and investment opportunities.
• With its simple and intuitive user interface, OKX Wallet simplifies the managing and swapping of coins.
•Advanced encryption and private key control safeguard assets against unauthorized access.
Trust Wallet
• Trust Wallet supports over 70 networks, thereby offering unparalleled flexibility.
• It has a native DEX that facilitates token swaps right within the wallet.
• Trust Wallet allows users to earn passive income by staking selected cryptocurrencies.
• It prioritizes the safety of digital assets with robust security features.
• The only issue you should keep in mind is that it lacks desktop and hardware wallet support and focuses exclusively on mobile applications.
Wirex Wallet
• Wirex Wallet integrates with platforms like Compound and Aave to give you tons of passive earning opportunities.
• It supports cross-chain swapping, meaning you can easily swap tokens between blockchains.
• It deploys sophisticated security measures such as SMPC encryption and biometric backup to ensure the optimal safety of your funds.
• Wirex Wallet supports a wide range of coins — 100+ to be precise — including Bitcoin, Ethereum, and Worldcoin, among others.
• It offers a straightforward interface with no extensive onboarding, which makes it suitable for users at all levels.
For further detail on BeInCrypto’s verification methodology, follow this link.
- What are the best Worldcoin wallets?
- Coinbase Wallet
- MetaMask
- OKX Wallet
- Trust Wallet
- Wirex Wallet
- What to look for while selecting a Worldcoin wallet
- Pros and cons of using self-custodial wallets to store Worldcoin
- How to create a Worldcoin wallet?
- The double-edged sword of self-custody
- Frequently asked questions
What are the best Worldcoin wallets?
While most Worldcoin wallets come with more or less the same set of features, the best choice for you depends on your priorities. The following is a rundown of some top options to consider.
Coinbase Wallet
Coinbase Wallet stands out as a top choice for Worldcoin storage due to its user-friendly interface. It is definitely among the most, if not the most, accessible crypto wallet for both beginners and experienced users.
Another big advantage its users enjoy is the robust security Coinbase often brags about. Coinbase Wallet has all the standard and stringent security features including 2FA, secure enclave technology, and more, that you expect from a non-custodial wallet.
Additionally, its integration with the Coinbase exchange ensures that you can seamlessly buy, sell, or trade Worldcoin with Coinbase’s top-tier liquidity. Overall, the wallet’s reputation for reliability and customer support add to its charm as one of the best crypto wallets for Worldcoin.
• Self-custody: You hold the private keys, which gives you complete control over your crypto stash.
• Multi-cryptocurrency: Stores Bitcoin, Ethereum, Solana, Dogecoin, Worldcoin, and all major coins and ERC tokens
• NFT support: Securely stores and views Ethereum, Solana, and other NFTs.
• DeFi access: Easy integration with decentralized finance apps.
• User-friendly interface: A simple and intuitive user interface that goes easy on the eyes and is easy to navigate even if you are a beginner.
• Stringent security: A neat track record when it comes to security.
• User-friendly interface: Great for beginners with a clean and simple design.
• Self-custody: You control your private keys, which gels well with the core principles of decentralization.
• Multi-currency support: Stores a wide range of popular cryptocurrencies and tokens.
• DeFi access: Integrates with decentralized finance applications, thus allowing you to try out new opportunities.
• Security features: Offers strong security measures like biometric authentication and two-factor authentication.
• Potential for high fees: Transaction fees can be sometimes higher than other popular wallets.
• Limited control over private keys (default setting): By default, Coinbase has access to your private keys if you choose their custodial service.
• Limited customer support: It is not unheard of users having to bear with long wait times while requesting assistance.
• Not ideal for advanced traders: If you are an advanced trader, odds are there that you might be turned off by the lack of certain features.
MetaMask
MetaMask is another user-friendly non-custodial wallet to safely store or trade Worldcoin (WLD). While setting up and importing your WLD stash might appear a little challenging if you are an absolute beginner, it’s actually relatively straightforward and you will soon get the hang of it.
The wallet integrates with a wide range of DApps, which lets you effortlessly explore DeFi, NFTs, and blockchain gaming. Meanwhile, security is another of its strong aspects with features like hierarchical deterministic settings, which allow for secure transactions and asset management.
MetaMask’s compatibility with ERC tokens and the Ethereum Virtual Machine (EVM) is another big advantage. Then, there is the high rate of adoption and community trust that collectively make MetaMask a reliable choice for storing and transacting Worldcoin.
• EVM compatibility: Built for the Ethereum ecosystem, MetaMask can interact with EVM-compatible networks like Ethereum Mainnet, Layer 2 scaling solutions like Linea and Optimism, and even sidechains like Polygon.
• Token vault: Securely store, send, and receive Ethereum (ETH), ERC-20 tokens, ERC-721 NFTs (and others).
• DeFi gateway: Connects you to decentralized finance (DeFi) apps for swapping, lending, borrowing, and more.
• Built-in exchange: Easily swap cryptocurrencies directly within the wallet interface.
• NFT gallery: View, store, and manage your collection of NFTs.
• Network explorer (advanced): Optionally add new blockchains to explore a wider range of crypto (more suitable for experienced users).
• Security suite: Secure login options with password, seed phrase, and optional hardware wallet integration.
• EVM compatibility: Compatibility with ERC tokens and EVM.
• User-friendly interface: Accessible to users of all skill levels once you get the hang of it.
• DApp integration: Direct access to a wide range of DeFi and blockchain applications.
• Strong security: Offers hierarchical deterministic settings, 2FA, and other security features that you expect from your trusted crypto wallet.
• Community trust: Widely adopted and trusted within the crypto community.
• Target for phishing: High popularity makes MetaMask a frequent target for scams and phishing attacks.
• Browser dependency: The MetaMask browser extension is not as secure as, say, a hardware wallet. But, that’s not an issue exclusive to MetaMask. All browser extension-based wallets face it.
• Learning curve: While user-friendly, beginners may initially find the array of features overwhelming.
OKX Wallet
For Worldcoin (WLD) users, the OKX Wallet is more than just a multi-crypto, multi-chain storage solution. It’s a feature-packed app (or browser extension) designed to make managing your WLD and other digital assets as secure and user-friendly as possible.
Sure, being able to easily store currencies from multiple blockchains in one place is convenient. But the OKX Wallet goes well beyond that with robust security safeguards like advanced encryption and private key control to protect your funds. The straightforward interface is also a major plus. It makes sending, receiving, and swapping coins effortless whether you’re a crypto newbie or an experienced user.
Beyond that, where the wallet really shines is its integration with the OKX exchange. This unlocks direct access to a huge range of trading and investment options right from within the non-custodial wallet. More than just providing liquidity, it allows you to seamlessly execute transactions and take advantage of market opportunities as they arise.
• Multi-chain & cross-chain support: Trade cryptocurrencies directly across multiple blockchains.
• Yield farming: Earn rewards by leveraging your crypto holdings in DeFi protocols.
Integrated trading: Direct integration with OKX exchange for seamless trading and access to liquidity.
• NFT support: Provides functionality to store, view, and manage non-fungible tokens (NFTs).
• DApp discovery: Explore a vast range of decentralized applications (DApps).
• Smart account feature: Pay gas fees with ease using stablecoins and potentially get reimbursed (check for ongoing promotions).
• Multichain support: Allows the management of a wide range of cryptocurrencies across multiple blockchains.
• Excellent liquidity: Offers direct access to the OKX platform for trading, increasing convenience.
• Defi and DApp integration: Makes the decentralized web much more accessible, which improves your overall experience.
• Staking opportunities: Allows users to earn rewards directly within the wallet.
• Cross-chain functionality: Streamlines the process of swapping assets between different networks.
• Ease of use: The wide range of features and settings can be overwhelming for new users.
• Reliance on the OKX ecosystem: While OKX integration is indeed a strength, the reliance on the broader OKX ecosystem may sometime be a double-edged sword by limiting flexibility.
• Phishing risk: As a popular wallet, it might attract malicious actors, meaning you have to be always on your toes to be on the safer side.
Trust Wallet
Trust Wallet presents a compelling option for securely storing your Worldcoin (WLD). As a non-custodial wallet, it puts you in complete control of your private keys and digital assets, which perfectly aligns with the decentralized ethos of cryptocurrencies.
With support for over 70 blockchain networks, Trust Wallet lets you manage your diverse portfolio of crypto assets within a single user-friendly interface. Trust Wallet’s robust security features, such as private key management and recovery seed phrase backup, ensure the safekeeping of your funds.
Additionally, its seamless integration with DApps and the ability to stake certain cryptocurrencies for passive income make Trust Wallet a versatile choice. It is a good fit for you if you are on the lookout for a secure, feature-rich, and multi-chain compatible wallet.
• Versatility: Trust Wallet supports more than 70 blockchains including the likes of Bitcoin, Ethereum, Solana, and many more.
• Built-in DEX: It comes with a built-in built-in DEX for swapping tokens.
• DApp and NFT compatibility: Integration with a wide range of DApps and NFT marketplaces
• Staking: With Trust Wallet, you can easily stake certain cryptocurrencies to have a shot at earning regular passive income.
• Trading bot compatibility: It is compatible with popular crypto trading bots like CryptoHopper and 3Commas.
• Security: Trust Wallet claims to have state-of-the-art security features including sophisticated encryption to protect your crypto holdings from malicious elements.
• Self-custody: As a non-custodial wallet, it gives you full control over your private keys.
• Ease of use: Trust Wallet’s user friendly interface makes it easy for you to manage multiple cryptocurrencies and NFTs.
• Transparency: Trust Wallet is an open-source wallet. This means its source code is available for 3rd party audits, which ensures greater transparency.
• Easy purchases: It supports debit and credit card linking to make your crypto purchases easier.
• Built in DEX: The native DEX that accompanies the wallet makes it easy to swap tokens efficiently.
• Mobile-only: No support for cold storage or desktop applications.
• Limited support: Relies primarily on online resources and may have limited direct customer assistance.
• No hardware wallet support: Doesn’t currently integrate with hardware wallets.
Wirex Wallet
The Wirex Wallet is another versatile and secure non-custodial wallet you can consider to store and manage your WLD holding. It is a cross-chain wallet that supports multiple blockchains.
The wallet makes DeFi accessible to mainstream users by integrating a range of earning opportunities such as staking and lending directly through platforms like Compound and Aave.
Another standout feature is its emphasis on security. The Wirex Wallet employs advanced encryption techniques, including SMPC (Secure Multi-Party Computation), which eliminates the need for private keys. Among other things, it significantly reduces the risk of theft or loss of funds. Additionally, biometric backup ensures that users can recover their wallets in case of device loss.
Cross-chain swapping capabilities also allow users to easily move tokens between different blockchains. This maximizes their earning potential while minimizing gas fees.
With support for over 100 coins, including popular cryptocurrencies like Bitcoin, Ethereum, and Worldcoin, the Wirex Wallet delivers a comprehensive solution for managing and transferring digital assets. Users can also explore DApps and NFTs through secure wallet connect integration, which further enhances the overall DeFi experience.
• Security: The Wirex Wallet has an advanced security feature utilizing SMPC (Secure Multi-Party Computation) encryption. It also offers biometric backup for wallet recovery in case of device loss.
• Cross-chain compatibility: The Wirex Wallet has cross-chain compatibility across Bitcoin, Ethereum, and Solana blockchains.
• DeFi earning: The Wirex Wallet has direct integration with lending platforms like Aave and Compound, enabling users to earn high yields (up to 25% APY) by staking or lending their crypto holdings.
• Cross-chain swapping: The Wirex Wallet can effortlessly swap DeFi tokens across different blockchains directly from the wallet interface.
• DApp and NFT integration: The Wirex Wallet has secure integration with DApps and NFTs through Wallet Connect.
• High security: Offers keyless entry with next-gen security through advanced SMPC encryption and biometric backup.
• Cross-chain compatibility: Works across Bitcoin and Ethereum blockchains, planning for layer-2 networks.
• DeFi Access: Direct connections to AAVE and Compound for high-yield earning opportunities.
• Cross-chain swaps: Simplifies the process of swapping DeFi tokens across different blockchains.
• Wide range of supported coins: Supports over 100 coins including BTC, ETH, WLD, WXT, and many ERC20 tokens.
• DApp and NFT access: Easy connection to DeFi web applications and NFTs with stringent security.
• Steep learning curve: The wide range of features, especially those focused on DeFi might overwhelm some new users.
• Market volatility: High APY interest rates are subject to the volatile nature of DeFi markets.
• Custodial risk: While the Wirex Wallet is non-custodial, users may still have to trust Wirex with certain aspects of the wallet’s functionality.
What to look for while selecting a Worldcoin wallet
If you are looking for a Worldcoin wallet, you’ll want to prioritize user-friendliness. An intuitive interface is crucial. After all, you want your self-custodial wallet to be able to offer you a smooth, hassle-free user experience, not a navigational nightmare.
Security features should be closely followed on your “must-have” list. Ideally, your wallet should have key features, including two-factor authentication (2FA), multi-signature options, and even hardware wallet support. These are the absolute minimums that you should not compromise on. Wallets like MetaMask and Trust Wallet — as well as the other wallets mentioned in this guide — stand out in all those aspects.
Don’t overlook the wallet’s track record, either. A storied history of reliability can go a long way toward ensuring your peace of mind.
Accessibility to liquidity is another key consideration; ensure the wallet can facilitate quick exchanges and transactions. It’s also wise to dive deeper and check for DeFi and NFT compatibility — these could be the winds propelling your investment journey to new horizons. And yes, check if the wallet supports cross-chain support. This feature can significantly expand your trading/investment strategy by allowing you to effortlessly traverse various blockchain territories — without limitations.
Wallets like MetaMask and Trust Wallet, as well as the other wallets mentioned in this guide, stand out in all those aspects.
Pros and cons of using self-custodial wallets to store Worldcoin
Self-custodial wallets, also known as non-custodial wallets, are digital wallets that give users full control over their private keys and, consequently, their crypto stash.
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In the context of Worldcoin (WLD), or for that matter, any other crypto, using a self-custodial wallet presents both advantages and disadvantages. These wallets offer a higher level of security and privacy compared to custodial wallets operated by third parties. Users have complete control over their funds, and no external entity can access or freeze their assets without their consent.
Furthermore, one of the core principles of cryptocurrencies like Worldcoin is decentralization. Self-custodial wallets align with this principle by eliminating the need for a centralized authority to manage users’ funds. Additionally, by holding their private keys, users have true ownership and responsibility over their Worldcoin assets.
However, with great power comes great responsibility. While self-custodial wallets offer greater control, they also place the burden of security and asset management entirely on the user. Losing or compromising private keys can result in permanent loss of funds, as there is no central authority to recover them.
Managing self-custodial wallets can be more complex than using custodial wallets, especially for those with limited technical knowledge. This may deter some users from adopting these wallets. Also, in the event of technical issues or lost funds, users of self-custodial wallets have limited support options.
Considering these factors, you should carefully evaluate your technical expertise and risk tolerance. Also, understand the responsibilities that come with managing your own private keys when considering self-custodial wallets for storing Worldcoin (WLD).
How to create a Worldcoin wallet?
It’s simple — you follow the same procedures that you follow while creating any other crypto wallet. Let’s use the Coinbase Wallet (browser extension) to demonstrate.
Step 1: Download the Coinbase Wallet extension if you have not done so already.
Step 2: Once you add it to your browser, access the extension. It will prompt you to create a new wallet or link an existing one. Here, we will be creating a new wallet from scratch. Just hit the “Create New Wallet” button.
Step 3: Up next, the Wallet will create a 12-word seed phrase for you. You have to save this secret seed phrase somewhere. Remember, if you lose this seed phrase, you may irretrievably lose access to the wallet and its funds.
Step 4: Once you move on to the next screen, the wallet will ask you to confirm that you have saved the seed phrase somewhere secure. Once you confirm, it will prompt you to create a password and then a unique username.
Step 5: That’s it — after you have created your password and username, your wallet is ready for transactions. As you can see in the screen below, you can send and receive Worldcoin (WLD) by selecting an appropriate option from the main menu.
Remember, the steps described here are more or less consistent across all platforms. However, expect a few variations depending on your wallet and/or platform.
The double-edged sword of self-custody
The wallets discussed above are some of the best options available for securely storing your WorldCoin (WLD) holdings, as per BeInCrypto’s findings. However, it’s crucial to exercise caution when exploring these non-custodial wallet solutions. Since you retain full control over your private keys, the responsibility of safeguarding your digital assets lies squarely on your shoulders.
And as always, ultimately, the decision to entrust your WorldCoin holdings to a particular non-custodial wallet should be made after careful consideration of your technical expertise, risk tolerance, and overall comfort level with managing your private keys.
Frequently asked questions
What wallet supports Worldcoin?
Does MetaMask support Worldcoin?
Does Trust Wallet support Worldcoin?
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