10 Best Crypto Wallets of 2023
As cryptocurrencies continue to become popular into the year 2023, understanding which are the best crypto wallets is essential for those looking to invest or trade in digital currencies.
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Table of Contents
- Our Top Picks for the Best Crypto Wallets
- Best for Beginners: Coinbase Wallet
- Best for Ethereum: Myetherwallet (MEW)
- Best Bitcoin Wallet: COLDCARD MK4
- Best for Mobile: Exodus
- Best Desktop Wallet: Guarda Wallet
- Best Hardware Crypto Wallet: Ledger Nano S Plus
- Best DeFi Wallet: Trust Wallet
- Best for Low Costs: MetaMask
- Best for Security: Keystone Pro
- Best Overall: Trezor Model T
- Other Crypto Wallets We Considered
- What to Look for in a Crypto Wallet
- Investing in Crypto Prudently
- How We Chose the Best Crypto Wallet
- Frequently Asked Questions
Several different types of wallets provide numerous security features and convenience when it comes to managing your crypto funds. We’ve scoured the web and compiled a list of our top 10 best crypto wallets of 2023.
The best crypto wallet depends on your own unique cryptocurrency needs, so we suggest considering a few options before making your final decision. Whether it be a desktop wallet, mobile wallet, online wallet, or hardware wallet, we got you covered. From Bitcoin-only wallets to beginner-suitable devices and more, this article will shed light on the best crypto wallet for your specific use cases.
Our Top Picks for the Best Crypto Wallets
The following list is compiled in no particular order but rather via categorization. It's entirely possible to utilize multiple wallets for various coins and use cases. Without further ado, let's take a look at our top picks for the best crypto wallets of 2023:
- Best for Beginners: Coinbase Wallet
- Best for Ethereum: Myetherwallet (MEW)
- Best Bitcoin Wallet: COLDCARD MK4
- Best for Mobile: Exodus
- Best Desktop Wallet: Guarda Wallet
- Best Hardware Crypto Wallet: Ledger Nano S Plus
- Best DeFi Wallet: Trust Wallet
- Best for Low Costs: MetaMask
- Best for Security: Keystone Pro
Best for Beginners: Coinbase Wallet
As a product of one of the most popular and user-friendly cryptocurrency exchange platforms, Coinbase Wallet is a great choice for those just starting out in the world of crypto. It’s designed to be an all-in-one solution for users looking for not only a wallet but also additional features like portfolio tracking and support from Coinbase. The wallet supports Bitcoin and Ethereum as well as various ERC20 tokens and offers advanced security features like pin codes and biometric authentication.
Although some critics argue that the Coinbase Wallet is not suitable for users who want to remain 100% anonymous, it stands as one of our top picks for the best crypto wallets for beginners. For those just learning the ropes of the crypto world, Coinbase Wallet offers a great interface with plenty of support and educational resources.
Best for Ethereum: Myetherwallet (MEW)
If smart contracts are your thing, Myetherwallet (MEW) is the best crypto wallet for you. It’s an open-source web-based wallet that was created specifically for Ethereum and its tokens. MEW also offers additional features like paper wallets and access to decentralized exchanges, making it a great choice for anyone looking to trade in ETH or its related tokens.
This wallet may not be the most popular choice, but it stands out as one of the best wallets available for Ethereum and its tokens. MEW also offers several advanced features like support for multiple signature accounts and encrypted private key storage. It's free, open source and as the name implies, integrates well with the Ethereum network. As the original Ethereum wallet, MEW is a great choice for anyone looking to participate in the Ethereum network.
Best Bitcoin Wallet: COLDCARD MK4
This cyberpunk-looking hardware wallet is specifically designed for Bitcoin owners who are looking for the highest levels of security. Described as 'The World’s Most Trusted and Secure Bitcoin Signing Device' COLDCARD Mk4 offers a range of features like multi-sig support, air-gapped offline storage, and pin authentication. The device also runs on custom firmware that’s been designed with security as its top priority. With its verifiable source code and open-source approach, COLDCARD Mk4 is the perfect solution for those looking to maximize their Bitcoin security while still enjoying its many features.
With its large numeric keypad and readable screen, the ease of use of the wallet makes it a great choice for those looking for the best Bitcoin wallet. Although some background knowledge of how the trick pin security system works is required, this wallet is great for those who want to keep their Bitcoin holdings safe and secure. This duress feature takes into account psychological and physical '$5 wrench attack' concerns by effectively creating a dummy wallet with a fake seed phrase with funds that are separate from the user's actual wallet. To top it off, it has unlimited memory which means there are no restrictions on Bitcoin transaction sizes. If Bitcoin is your main focus then this wallet should be at the top of your list.
Best for Mobile: Exodus
Exodus is a great mobile wallet for iOS and Android devices. Not only does it have an intuitive user interface but also offers extensive support for various digital coins. Exodus also allows users to exchange their cryptocurrencies directly within the wallet, making it the perfect choice for those looking to trade in crypto on the go. It's a multichain Web3 wallet that supports over 12 networks which means you can easily store a variety of your tokens and coins in a versatile way.
The wallet has advanced security features like 2FA authentication and password protection. It also has a backup system that takes the hassle out of restoring your wallet should something go wrong. With its low fees and quick transaction times, Exodus is one of the best crypto wallets for those looking to easily manage their digital currencies. With the ability to swap between thousands of assets in a few clicks, it is easy to see why this wallet has become the go-to choice for those looking for an all-in-one mobile solution.
Best Desktop Wallet: Guarda Wallet
For those looking for a desktop-based wallet, Guarda Wallet is a great option. With an incredible score of 4.6 on TrustPilot, it's easy to see why this wallet is quickly becoming one of the most popular wallets for desktop users. Guarda has a simple user interface that makes it incredibly easy for beginners to get started with their digital currency journey without getting overwhelmed by all the information and features available.
With staking options and over 400k+ assets available for users to store, Guarda is a great choice for those looking to get the most out of their crypto. This non-custodial wallet also offers built-in exchange options so you can quickly and easily swap your digital assets without having to leave the comfort of your own desktop.
Best Hardware Crypto Wallet: Ledger Nano S Plus
Perhaps the most popular brand name in the world of crypto wallets, Ledger has consistently been delivering top-notch products to the market over the years. The Ledger Nano S Plus is a great choice for those looking for maximum security and privacy when it comes to their digital assets. Built with an array of advanced features like a secure chip and two-factor authentication, this hardware wallet stands out as one of the best in the business.
The wallet also offers a range of features such as support for multiple cryptocurrencies and a built-in secure element to protect your digital assets from hackers or malicious software. It also has a 24-word seed phrase recovery feature which gives users an extra layer of security if ever their device gets lost or stolen. The Ledger Nano S Plus is an excellent choice for those who want to make sure their crypto holdings remain secure and private. With the size of a USB drive and its ease of use, it's easy to see why this wallet is quickly becoming one of the most popular wallets available.
Best DeFi Wallet: Trust Wallet
Trust Wallet is the go-to wallet for those looking to participate in the booming DeFi space. As a non-custodial multi-coin wallet, Trust Wallet supports all popular coins and tokens on Ethereum networks. This makes it incredibly easy to keep track of your digital assets and quickly move them around as needed. With its built-in decentralized exchange feature, users can quickly move their coins in and out of DeFi platforms with ease.
Trust Wallet also has a great mobile app for iOS and Android devices, making it perfect for those on the go. With its staking features and flexible gas fees, Trust Wallet is the perfect choice for those looking to get involved in decentralized finance. It also offers a great rewards program with Trust Tokens which can be used as in-app currency or staked for passive income payments.
Best for Low Costs: MetaMask
MetaMask is a free-to-download browser extension that allows you to interact with decentralized apps. It offers low transaction fees and is incredibly easy to use, making it a great wallet for those looking to save on costs. Featuring support for both ETH and ERC-20 tokens, MetaMask also makes it easy to manage your digital assets and quickly move them around when needed.
The browser extension also integrates with popular Web3 applications like Compound and Uniswap, making it a great choice for those looking to get involved in DeFi. If you are looking to connect with the world of Web3, this wallet is certainly worth checking out. With its low transaction costs, MetaMask offers a great solution for those looking to save on costs without sacrificing security or features. It's also non-custodial, meaning your funds remain in your control at all times.
Best for Security: Keystone Pro
When it comes to security, a physical hard wallet is one of the best options available. Keystone Pro is a great choice for those looking to securely store their digital assets without any compromises. This hardware wallet features military-grade encryption and an array of advanced security features. Through the utilization of QR code transmissions, this brand has successfully eradicated potential risks of malware infiltration. Moreover, this approach has bestowed upon us an unparalleled level of transparency that surpasses the capabilities of Bluetooth or USB. With a state-of-the-art Secure Element, meticulously designed for bank-grade security, your private keys remain securely within the Keystone at all times.
In the event of disassembly, an anti-tamper self-destruct mechanism will promptly erase your private keys if your Keystone is misplaced or stolen. This ensures the utmost security and protection for your valuable assets. Additionally, with fingerprint authentication Keystone Pro is the perfect choice for those looking to keep their digital assets safe without any worry. It's a heavy-duty solution for those looking to store their crypto securely without any compromises.
Best Overall: Trezor Model T
There is no denying that Trezor is one of the best crypto wallets available. This multi-coin wallet has been keeping funds safe for over 10 years now. It's a hardware wallet that is simply designed and easily portable. With over 1000 supported coins and tokens, this wallet offers a great deal of flexibility for those looking to get the most out of their digital assets.
The Trezor Model T also pairs with their desktop and mobile app, Trezor Suite. This enables a visible display of the wallet, providing quick access to all of its features. It also includes a passphrase feature which makes it virtually unhackable by attackers. If privacy is important to you, users can connect to Coinjoin, making transactions harder to trace. Reducing information disclosure to the minimum is a great way to protect yourself and your funds.
Other Crypto Wallets We Considered
Many crypto wallets are emerging in the markets today. The following are some notable mentions. Each of these wallets offers different features that can be beneficial for different types of users. We encourage you to research each wallet to find out which one is best suited for your needs.
Mycelium Wallet
As one of the oldest and most popular Bitcoin wallets, Mycelium Wallet offers a secure platform to store, manage and transact your digital assets. It passes multiple tests as a reliable and secure wallet for cryptocurrencies, making it an excellent choice for those looking to invest in this space.
Cypherock X1
Cypherock X1 takes a unique approach to private key management as it decentralizes your key storage across multiple devices. This makes it an attractive option for those looking to increase their security without sacrificing convenience. It's also incredibly user-friendly, making it a great choice for beginners as well. Without a single point of failure, Cypherock X1 is a great choice for those looking to take their security to the next level. If separating your private keys across multiple devices is important to you, this wallet is worth a look.
Foundation Passport
Aesthetically pleasing and secure, Foundation Passport offers a great solution for those looking to safely store their digital assets. This wallet features a modern design and is incredibly intuitive to use. With its comprehensive user dashboard, air-gapped security, and open-source code, it's a great choice for anyone looking to invest in cryptocurrencies. If you are looking for a reliable and stylish Bitcoin wallet, Foundation Passport may be worth your consideration.
What to Look for in a Crypto Wallet
When selecting a crypto wallet, there are several key factors to consider: Security, features, cost, convenience and more. Let’s further explore how each of these factors can play a role in finding the best crypto wallet for your needs.
Security is one of the most important considerations when selecting a crypto wallet since it affects both the safety of your funds and personal data. Make sure to look out for multi-level security, such as two-factor authentication and other features that protect you from malicious activity.
Features are also important when choosing a crypto wallet. Look for wallets with features like built-in exchanges, integrated portfolio tracking, and advanced analytics tools to help manage your cryptocurrency investments.
Cost is another factor to take into consideration. While some crypto wallets may offer additional features, they may also come with higher fees. Make sure to research the cost of a particular wallet and determine if it is within your budget. Although, as a device that will be responsible for your crypto assets, it pays to invest in a secure wallet.
Convenience is also important when selecting a crypto wallet. Is the wallet compatible with multiple devices? Can you easily access your funds from any location? Is it easy to use? All of these factors can play a role in finding the most convenient crypto wallet for your needs. Stress can lead to mismanagement of funds, so make sure to select a wallet that is user-friendly and secure.
Compatibility is also a factor that should be taken into account. Make sure to research the compatibility of your wallet with different digital currencies and wallets before making your final decision. For example, if you are looking to store Ethereum and end up purchasing an Ethereum-only wallet, you won't be able to use it for other digital currencies.
Custodial vs non-custodial wallets are another important factor that plays a role in security. Custodial wallets are hosted on an external provider’s server, while non-custodial wallets are downloaded onto your device and require you to store your own private key. Non-custodial wallets provide more security since they do not rely on third parties to keep your funds safe.
Recoverability is also an important factor in choosing a crypto wallet. Some wallets offer recovery options that allow you to restore access to your funds if something happens to your device or wallet. Make sure to research the available recovery options of a particular wallet before selecting one.
Finally, consider customer support when selecting a crypto wallet. Most reputable wallets will offer 24/7 customer service and issue resolution in case something goes wrong with your wallet. This can be especially important if you are new to cryptocurrency investing and need additional help setting up or troubleshooting an issue.
As a review of the key factors to look for when selecting a crypto wallet, use the following checklist to ensure that you make the best decision for your needs:
- Security
- Features
- Cost
- Convenience
- Compatibility
- Custodial vs Non-Custodial Wallet
- Recoverability
- Customer Service & Support
Now that you know what to look for in crypto, let's discuss some of the best methods of investing in crypto prudently. This means finding a reliable and secure platform that can help you manage your investments and maximize potential profits. We will also discuss common investing strategies involving safekeeping with crypto wallets.
Investing in Crypto Prudently
Investing in cryptocurrencies is more complex than investing in traditional assets due to the lack of regulatory oversight and high levels of volatility. Investors must practice risk management when investing in crypto assets. This means diversifying your portfolio, understanding the risks, setting investment goals and having a plan for when you will sell your investments.
Before diving into crypto trading and investing, you should perform your own due diligence. This includes researching the different types of digital currencies available, understanding the risks, studying market trends and analyzing potential opportunities. Fear of missing out and other psychological factors can also affect your decision-making, so make sure to take a measured approach when investing in cryptocurrencies.
Once you have completed your due diligence and decided to invest in crypto, the next step is finding a reliable and secure platform for trading and managing investments. Popular exchanges like Coinbase, Binance, and Kraken offer user-friendly platforms for buying, selling, and storing digital currencies. These exchanges also offer services such as portfolio tracking tools and advanced analytics for users to better understand the crypto markets.
Additionally, some crypto wallets come with an app and exchange feature that allows you to easily manage your investments with the same wallet. This eliminates the need for multiple accounts and makes it easier to keep track of your crypto assets. The benefit of this investing route is that you can have the best self-custody options whereas an exchange will always be custodial.
Another important element of investing in crypto is safekeeping and storage. As previously mentioned, different types of wallets have different security features and levels of convenience. Make sure to research the available options and determine which wallet best suits your needs before storing any digital currencies. A good rule of thumb is that hardware wallets are the most secure form of storage, while web wallets are the least secure.
Hardware wallets that don't have a native exchange feature built into their associated apps may be more inconvenient to trade with, but they offer maximum security. Long-term investors may benefit from using hardware wallets since they are the most secure form of storage for digital currencies.
In contrast, web wallets, also known as hot wallets, are more convenient for day-to-day use since they are accessible from any location. However, these wallets have lower security features and should not be used for long-term storage of large amounts of crypto assets. Cryptocurrencies that have been decided as short-term investments can be kept in these wallets for a quick exit or purchase of goods and services.
Finally, investors must also have a plan for when to buy and sell their crypto assets. A common strategy is dollar-cost averaging, which involves investing a set amount of money into certain digital currencies regularly over time. This approach helps reduce volatility by spreading out investments over time instead of making one large purchase. Additionally, investors should always establish a risk/reward ratio before investing in any asset and exit when their target profit is reached.
How We Chose the Best Crypto Wallet
When selecting the best crypto wallet, we looked at a variety of factors such as security, features, cost, convenience, compatibility, custodial vs non-custodial wallets, recoverability and customer service & support. We also took into account user reviews and ratings to ensure that each wallet was held up to our high standards.
We understand that everyone has different needs and preferences, so we made sure to select a variety of wallets that cater to a wide range of users. We also wanted to make sure investors had the most secure options available when choosing a wallet for long-term storage. As the market continues to grow, we are sure to see more options come to light. However, for the year 2023, these are the best crypto wallets that we recommend. By accounting for the most common shopping categories listed below, you can pick the best wallet for your needs.
- Best for Beginners: Coinbase Wallet
- Best for Ethereum: Myetherwallet (MEW)
- Best Bitcoin Wallet: COLDCARD MK4
- Best for Mobile: Exodus
- Best Desktop Wallet: Guarda Wallet
- Best Hardware Crypto Wallet: Ledger Nano S Plus
- Best DeFi Wallet: Trust Wallet
- Best for Low Costs: MetaMask
- Best for Security: Keystone Pro
This segmentation allows users to make informed decisions when selecting a crypto wallet that best meets their individual needs. Whether you are looking for a secure wallet with advanced features or an easy-to-use interface with low fees, this guide to the best crypto wallets should help you find the perfect solution.
Frequently Asked Questions
Which kind of crypto wallet is best?
The best type of crypto wallet depends on your individual needs and preferences. If you need maximum security for long-term storage, a hardware wallet is likely the best choice. For day-to-day use, a web wallet might be more convenient since it can be accessed from anywhere. Make sure to research all available options before selecting one.
What is the best crypto wallet?
The best crypto wallet depends on your individual needs and preferences. Popular hardware wallets include Trezor, Ledger, and KeepKey. For web wallets, popular options include MetaMask, Exodus, and MyEtherWallet. You should always research the security features of a wallet before selecting one.
What crypto wallet should I use?
The best crypto wallet depends on your level of understanding when it comes to safekeeping digital currencies and your individual needs. Simplicity reduces stress, so opting for a wallet that is easy to use and understand may be beneficial. Additionally, make sure the wallet you choose offers high levels of security and is compatible with the digital currencies you plan on investing in. Knowing your own preferences and needs is key to selecting the best crypto wallet for you.
Binance Guarda Wallet KeepKey Kraken Ledger MetaMask Mycelium Wallet Trezor Trust Wallet
