Web3, often considered the third iteration of the internet, offers an environment based on decentralization, blockchain technologies, and token-based economics. So which crypto wallets are web3 friendly? This article explores the leading web3 wallets of 2024 and their critical role in the digital ecosystem.

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Methodology

What is a web3 wallet?

web3 intrerview questions cover

Web3 wallets are digital platforms that give access to the web3 space. They are similar to regular crypto wallets, allowing users to store, send, and receive cryptocurrencies. Moreover, through these wallets, users can interact with smart contracts, transact NFTs, develop blockchain platforms, and connect with communities. Web3 wallets create a wide range of valuable applications beyond the normal existing digital wallets out there. Usually, these wallets have built-in browsers.

They are non-custodial wallets, meaning you can transact more securely without worrying about middlemen like banks. Also, you have full control over your funds and don’t have to go through a series of KYC/AML steps while creating one. 

Here are some of the major terms associated with web3 wallets:

  • Public key: This is an alphanumeric string that allows you to deposit and receive crypto transactions. 
  • Private key: Similar to passwords, it is a large number used to confirm transactions. Everyone has access to web3 wallet public keys, but a private key allows you to claim ownership to access your funds.
  • Seed phrase: It is a list of 12–24 random words used to retrieve a crypto wallet

You can use your web3 wallet from anywhere in the world. Let’s explore its major benefits.

What are the top web3 wallets?

1. Exodus

Best for multi platform support
Custody
Non-custodial
NFT support
Yes
Multi-Chain Support
Extensive
Platforms
Chrome, Brave, mobile, and desktop

2. Coinbase Wallet

Best for broad DeFi and NFT interactions
Custody
Non-custodial
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, IOS, browser extension

3. YouHodler Wallet

Best for maximizing crypto holdings and loans
Custody
Custodial
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, IOS

4. COCA Wallet

Best for unmatched MPC security
Custody
Non-custodial (MPC)
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, IOS

5. OKX Wallet

Best for integrated trading and crypto management
Custody
Non-Custodial (MPC)
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, IOS

6. Zengo Wallet

Best for user-friendly, biometric-secured storage
Custody
Custodial (Multi-Party Computation)
NFT Support
Yes
Multi-Chain Support
Bitcoin, Ethereum, Tezos and Terra (Luna)
Platforms
Android, IOS

7. Bitget Wallet

Best for advanced trading and security features
Custody
Non-custodial
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, iOS, browser extension, web interface, Telegram

8. MetaMask Wallet

Best for Ethereum-based DApp integration
Custody
Non-Custodial
NFT Support
Metamask Mobile
Multi-Chain Support
EVM-compatible chains
Platforms
Android, iOS, Linux, Windows, Mac

9. Paybis Wallet

Best for user-friendly crypto trading
Custody
Non-Custodial
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, iOS, Browser

10. Guarda Wallet

Best for extensive multi-chain token support
Custody
Non-Custodial
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, iOS, Linux, Mac, Windows

11. Rainbow Wallet

Best for Ethereum-based DApp integration
Custody
Non-Custodial
NFT Support
Yes
Multi-Chain Support
EVM
Platforms
iOS, Android, browser extension

12. Trust Wallet

Best for diversified cryptocurrency accessibility
Custody
Non-Custodial
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, iOS, browser extension

13. Argent Wallet

Best for seamless Ethereum layer-2 activities
Custody
Non-Custodial
NFT Support
Yes
Multi-Chain Support
Ethereum and zkSync
Platforms
Android, iOS, Chrome Extension (Argent X)

14. Math Wallet

Best for extensive multi-chain integration
Custody
Non-Custodial
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, iOS, browser extension

15. Cypher Wallet

Best for seamless blockchain bridging
Custody
Non-Custodial
NFT Support
Yes
Multi-Chain Support
Limited
Platforms
Android, iOS

16. FoxWallet

Best for diverse web3 functionalities
Custody
Non-Custodial
NFT Support
Yes
Multi-Chain Support
Extensive
Platforms
Android, iOS
Platform nameBest FeaturePlatforms
Paybis WalletBest for user-friendly crypto tradingAndroid, iOS, browser extension
Coinbase WalletBest for broad DeFi and NFT interactionsAndroid, iOS, browser extension
COCA WalletBest for unmatched Multi-Party Computation (MPC) securityAndroid, iOS
Zengo WalletBest for user-friendly, biometric-secured storageAndroid, iOS
OKX WalletBest for integrated trading and crypto managementAndroid, iOS
YouHodler WalletBest for maximizing crypto holdings and loansAndroid, iOS
Bitget WalletBest for advanced trading and security featuresAndroid, iOS, browser extension, Web interface
Guarda WalletBest for extensive multi-chain token supportAndroid, iOS, Linux, Mac, Windows
MetaMask WalletBest for Ethereum-based DApp integrationAndroid, iOS, Linux, Windows, Mac
Rainbow WalletBest for Ethereum-based DApp integrationAndroid, iOS, browser extension
Trust WalletBest for diversified cryptocurrency accessibilityAndroid, iOS, browser extension
Argent WalletBest for seamless Ethereum Layer 2 activitiesAndroid, iOS, Chrome Extension (Argent X)
Math WalletBest for extensive multi-chain integrationAndroid, iOS, browser extension
Cypher WalletBest for seamless blockchain bridgingAndroid, iOS
FoxWalletBest for diverse web3 functionalitiesAndroid, iOS
Exodus WalletBest for enduring web3 innovationsAndroid, iOS, Linux, Android, Mac

How do you set up a web3 wallet? 

binance web3

A web3 wallet is fundamental for engaging with cryptocurrencies and decentralized applications. Here’s a general guide on how to set up a crypto wallet, though the specific steps may vary depending on the platform you choose:

  1. Choose your wallet: Select a web3 wallet that supports the cryptocurrencies you are interested in and offers the necessary features. Popular options include Coinbase, OKX, and Zengo Wallet, among many others. 
  2. Download and install: Download the wallet application from a reliable source and install it on your device. For browser-based wallets, add an extension to your web browser.
  3. Create a new wallet: Open the application and choose to create a new wallet. Follow the on-screen instructions.
  4. Secure your wallet: Set a strong password and back up your recovery phrase. Store this phrase in a secure location—this is critical as it’s your only way to recover your wallet if you forget your password or your device is lost.
  5. Deposit funds: Transfer cryptocurrency into your new wallet from an exchange or another wallet.
  6. Start using your wallet: You can now use your wallet to send, receive, and manage your cryptocurrencies and interact with decentralized applications! 

Remember, the specific process can differ based on the wallet platform, so it’s crucial to follow any additional instructions the platform provides. 

Which web3 wallet is best?

If you’re looking for secure software to store your crypto and simultaneously interact with web3, you must choose a suitable web3 wallet. These wallets store your private keys securely, allowing you to send and receive crypto assets like Ethereum, Bitcoin, Solana, while interacting with wider decentralized ecosystems. There are hundreds of wallets there, but the above options are the most popular and reliable platforms to start with in 2024. The best wallet for you will be one that supports your chosen assets and the DApps you want to interact with. Remember to always prioritize crypto wallet security, stay vigilant, and watch out for scams.

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Ayotomiwa Oladotun
Ayotomiwa is a tech writer and marketer focused on blockchain, crypto, DeFi, the metaverse, and NFTs. Ayotomiwa works with a number of emerging tech startups and crypto exchange platforms, including being the content manager for BeArt LLC. Ayotomiwa holds a Bachelor of Engineering from the Federal University of Technology, Akure.
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