If you’ve invested in cryptocurrency, there’s one thing you’ll always need — a safe, reliable crypto wallet to store your assets. Crypto wallets come in many shapes and sizes, with mobile, desktop, and hardware wallets available for almost all coins on the market. This article explores the many different types of wallets, what they do, and how you can use them to store your digital assets securely in 2024.
KEY TAKEAWAYS
• Crypto wallets store your private keys and allow you to access, send, and receive digital assets.
• Types of wallets include hardware, software, mobile, desktop, and exchange-based options for different needs.
• Hot wallets are for frequent transactions; cold wallets are for securely storing assets long-term.
• Hot wallets are best for frequent, day-to-day transactions, while cold wallets are ideal for long-term storage and security.
- Top crypto wallets in 2024
- Best desktop wallets
- 1. YouHodler
- 2. Nexo Wallet
- 3. Paybis Wallet
- Top mobile wallets
- 1. COCA
- 2. ZenGo
- 1. Exodus Wallet
- 4. Trust Wallet
- Best exchange wallets
- 1. Bybit Wallet
- 2. Coinbase Wallet
- 4. KuCoin Wallet
- Best hardware wallets
- 1. Ledger
- 2. Trezor
- 3. Safepal
- Top crypto wallets compared
- What are crypto wallets?
- How do I keep my wallet secure?
- Are you looking for a reliable wallet?
- Frequently asked questions
Top crypto wallets in 2024
BeInCrypto has compiled an overview of the top wallets across various categories, including the best desktop, mobile, hardware, and exchange wallets. These include:
Best desktop wallets
1. YouHodler
The multi-coin wallet integrates well with the additional features. It can also be used on either a web browser or a mobile device. You can also exchange your tokens between crypto, fiat, and stablecoins, and you can combine yield generation strategies to earn more interest.
Minimum deposit amount in crypto is $5 USD
Fiat withdraw fees: 0.15%-1.5%
Network gas fees
- Multiple features
- Supports loans
- Multi-HODL feature for compounding earnings
- Requires heavy KYC
- Not available in US
2. Nexo Wallet
The Nexo Wallet allows you to manage your balances across multiple wallets with one identity. It lets you interact with multiple blockchains, such as: Ethereum, Polygon, Avalanche, Fantom, and BNB chain. The wallet also supports easy and cost efficient swaps so you can save on gas fees with batch transactions.
Only nework gas fees
- Supports multiple blockchains
- User friendly
- Aggregates multiple wallets to create web3 identity
- Not open source
3. Paybis Wallet
Paybis Wallet offers a smooth, clutter-free user interface and diverse range of payment methods. It uses advanced MPC technology to protect private keys and has a low entry threshold of $5, with no fees on the first transaction. These factors combine to make it a great choice for crypto newcomers.
Minimum fiat deposit: $5
0.99% fee for ACH transactions
2.49% fee for card transactions
4.5% card processing fee in the US (up to 6.5% in other countries)
Minimum card processing fee of $10
- User-friendly interface
- Wide range of payment options
- Instant payouts and secure asset storage
- No fees for the first transaction
- No phone support
- High trading fees
Top mobile wallets
1. COCA
COCA Wallet and Wirex teamed up to offer the first MPC wallet with a non-custodial debit card. This card lets you execute secure transactions without sharing any personal data. It provides access to NFTs, DApps, and top crypto rates without KYC. The COCA card, available in virtual and physical formats, is accepted by over 40 million merchants globally.
– No monthly or foreign exchange fees
– Free ATM withdrawals up to $200/month
- Highly secure with MPC and biometric technology
- Direct crypto transactions without preloading
- Supports both physical and virtual card formats
- Limited initial availability to UK and EEA
- Monthly limits on free ATM withdrawals
2. ZenGo
ZenGo is one of a few new wallets that use multi-party computation, whihc contributes towards security. It also allows you to connect to your favorite DApps that support WalleConnect. The wallet also features a recovery kit for securing your assets, instead of seed phrases.
Banxa spread fees: 1.99%
Banxa Debit/ Credit, Apple/ Google Pay: 3%
Moonpay spread fee: 1.5-3%
Changelly processing fee: 0.5%
Network gas fees
- Third-party payment providers in app
- Supports NFTs
- WaletConnect integration
- Limited functionality
- Limited blockchains support
1. Exodus Wallet
The Exodus mobile wallet is designed for users who want full control over their assets. It supports a wide range of cryptocurrencies and provides a clear overview of your portfolio, including real-time tracking of balances. Users can also exchange assets directly within the app without relying on third-party services.
Network gas fees
- Cross platform support
- Native Compound staking app
- Supports hardware wallets
- Not completely open source
- Limited functions when compared to competitors
4. Trust Wallet
Trust Wallet is an all in one wallet. You can send, receive, swap, and buy crypto with the app. You may also discover web3 DApps. The wallet also includes a native in-built browser, supports WalletConnect, and has biometric lock.
The only fees and limits are set by third-party payment providers, otherwise network gas fees.
- Discover Web3 DApps within the app
- Native browser
- Multi-chain support
- May be difficult for beginners
Best exchange wallets
1. Bybit Wallet
Bybit Wallet integrates directly with the Bybit exchange, which makes it easy to manage assets while trading on the platform. The wallet is known for its low trading fees and deep liquidity in the futures market. It also supports secure cold storage to ensure enhanced security for user funds while still providing fast access for trades.
Network gas fees.
Bybit’s fees when using spot and derivatives features.
- Web3 app aggregators
- Allows you to trade spot and derivatives
- Custodial
2. Coinbase Wallet
Coinbase Wallet stands out for its strong integration with Coinbase’s exchange and its commitment to security. It supports a wide range of cryptocurrencies and allows users to access DeFi apps and NFTs. Unlike many custodial wallets, it gives users full control of their private keys, while maintaining ease of use.
Network gas fees
- Allows you to connect to DApps
- Supports multiple blockchains
- Features a browser
- Open-source
- May be difficult for beginners
4. KuCoin Wallet
KuCoin Wallet supports multi-chain management, which makes it easy to hold, transfer, and swap various tokens. The wallet also offers integration with KuCoin Earn, enabling users to stake or lend their assets for passive income.
Network and gas fees, otherwise, fees associated with using Kucoin exchange’s services.
- Supports NFTs
- Gives you access to DeFi
- Supports multiple cryptocurrencies
- Not open-source
Best hardware wallets
1. Ledger
Ledger Wallets, including the popular Ledger Nano S and Ledger Nano X, offer industry-leading security with their certified Secure Element chips. They support over 1,800 cryptocurrencies, which makes them ideal for users with diverse portfolios.
With Bluetooth connectivity on models, such as the Nano X, Ledger provides convenience for managing assets on the go.
Network gas fees
- Supports multiple cryptocurrencies
- Smart phone app
- Bluetooth
- Not fully open-source
2. Trezor
Trezor Wallets, particularly the Trezor One and Trezor Model T, are serious contenders to the top Ledger products out there. Trezor products are known for their open-source software and strong security features. These devices allow users to store private keys offline while interacting with multiple blockchains.
Additionally, models such as the Model T offers a touchscreen interface to further enhance the user experience.
Network and gas fees
- Secure
- Easy to use
- Supports multiple cryptocurrencies
- Not available on IOS
3. Safepal
SafePal Wallets offer a strong balance of security and affordability. They supporting a wide range of cryptocurrencies across blockchains. These wallets also come integrated with DApps and DeFi protocols. Its companion mobile app allows for easy asset management, while private keys remain securely stored offline. This combination of accessibility and security makes it a solid choice for users at all levels.
Network gas fees
- A self-destruct mechanism designed to protect against malware attacks
- Fairly priced
- NFT storage
- Fairly new
- Not open-source
Top crypto wallets compared
| Wallet | Type | Key Feature | Supports | Security |
|---|---|---|---|---|
| YouHodler | desktop | integrates DApps, non-custodial debit cards, supports NFTs | multiple cryptocurrencies | secure offline storage |
| Nexo Wallet | desktop | offers crypto loans, interest-earning accounts, and exchange services | multiple cryptocurrencies | military-grade security, insurance |
| Paybis Wallet | desktop | non-custodial with multiple payment methods | multiple cryptocurrencies | multi-party computation (MPC) technology |
| COCA | mobile | integrates DApps, non-custodial debit card, supports NFTs | multiple cryptocurrencies | multi-party computation (MPC) technology |
| ZenGo | mobile | keyless wallet with facial recognition for enhanced security | multiple cryptocurrencies | secure multiparty computation |
| Exodus Wallet | mobile | supports multiple assets, easy-to-use interface | 150+ cryptocurrencies | private keys stored locally on mobile |
| Trust Wallet | mobile | integrates with DApps, supports staking and earning | 160,000+ digital assets | private keys stored locally, biometric login |
| Bybit Wallet | exchange | low fees, cold storage, deep liquidity for traders | major cryptocurrencies (BTC, ETH, etc.) | cold storage option |
| Coinbase Wallet | exchange | full control of private keys, access to DeFi and NFTs, beginner-friendly | major cryptocurrencies (BTC, ETH, etc.), NFTs | non-custodial, full control of private keys |
| KuCoin | exchange | crypto lending and borrowing with a high loan-to-value ratio | multi-chain assets | cold storage option |
| Ledger | hardware | industry-leading security, supports 1,800+ cryptocurrencies | 1,800+ cryptocurrencies | secure element chip, offline storage |
| Trezor | hardware | industry-leading security, open-source software, touchscreen (Model T) | multiple blockchains | offline storage, open-source firmware |
| Safepal | hardware | affordable, integrates with DApps and DeFi, mobile app for management | wide range of cryptocurrencies | offline storage, mobile app pairing |
What are crypto wallets?
A crypto wallet is an application or software that stores your cryptocurrencies. The wallet allows you to store, send, and receive cryptocurrencies quickly and safely. Some of these wallets offer more features than others, such as the ability to store cryptocurrencies from multiple networks. They also include advanced security measures to enhance the protection of users’ assets.
It is also important to be aware of the difference between hot wallets and cold wallets. Hot wallets, hosted on internet-enabled devices, offer easier access but carry higher security risks. Cold wallets store assets offline, accessible only through physical control of the device, private keys, or master seed phrase.
Typically, hot wallets are ideal for smaller amounts and frequent transactions, such as trading, payments, and exchanges. Cold wallets, on the other hand, are better suited for long-term holders looking to securely store the majority of their portfolio for extended periods.
How do I keep my wallet secure?
The level of security varies with each type of wallet. Always remember that storing your keys online carries a higher risk compared to offline storage due to potential hacking. On top of that, online storage leaves your devices vulnerable to exploits or security breaches.
To enhance wallet security, back it up regularly, keep the software updated, and enable extra protections like two-factor authentication (2FA) and identity verification.
Remember that no matter what wallet you are using, losing your private keys may lead to irretrievable loss of access to your fund. Understanding and applying expert-recommended security tips is essential for protecting your digital assets.
Are you looking for a reliable wallet?
As a cryptocurrency holder, you now have a wealth of reliable wallet options at your disposal! Each wallet presents its benefits and risks, encouraging users to explore different solutions for various use cases. Additionally, while we can expect future ease of use and security improvements, the responsibility to safeguard your funds lies with you.
Whether you prefer a desktop, mobile, browser, exchange, or hardware wallet, you’ll find that all your favorite assets receive wide support. Using our guide above, we’re confident you’ll find the wallet that best suits your needs.
Frequently asked questions
What is a crypto wallet?
What are hot and cold wallets?
What is a hardware wallet?
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