Luis Pazos 
Where investors use crypto exchanges for buying, selling, and trading various cryptocurrencies, the best cryptocurrency wallets provide a secure place to store their digital assets. This distinction is crucial because crypto exchanges often lack top-notch security, and having a digital wallet ensures you have exclusive access to your private keys. Different crypto wallets offer varying security features and services. If you’re ready to move your crypto from an exchange to a wallet where you have more control, read on for our top picks.
Our Picks for the Best Crypto Wallets:
Guarda Wallet: Best Overall
Exodus: Best for Flexibility
Coinbase Wallet: Best for Beginners
Ledger Nano X: Best Offline Crypto Wallet
Electrum Crypto Wallet: Best for Bitcoin
Crypto.com DeFi Wallet: Best DeFi Wallet
Best Crypto Wallets – Reviews:
Guarda Wallet allows users to set up a desktop, mobile, or online wallet for free. Once set up, you can earn interest on your crypto deposits or stake crypto to build passive income streams. Guarda provides access to a learning center and a customer support portal. Security and privacy are prioritized, with users owning and managing their private keys and user data. Funds are managed custody-free, ensuring your private data is never stored on company servers.
The Exodus wallet is ideal if you’re interested in short-term investing and want to hold onto crypto for a while. Its desktop app is user-friendly with no fees for receiving crypto, making it great for beginners. It supports sending, receiving, and exchanging Bitcoin and over 180 cryptocurrencies with strong security features. Exodus also provides 24/7 live customer support and a built-in exchange. You can manage assets securely from a Trezor hardware wallet too.
The Coinbase wallet lets you store all your cryptocurrencies and NFTs in one place, supporting hundreds of thousands of tokens. It allows you to explore the decentralized web using your mobile device. As a self-custody wallet, you have full control over your crypto and private keys, with industry-leading security features like multi-signature and two-factor authentication. Its easy-to-navigate interface makes it perfect for both beginners and experienced traders, and it connects to major bank accounts.
The Ledger Nano X is a hardware wallet that provides cold storage for over 5,500 coins and tokens, including Bitcoin and Ethereum. It’s Bluetooth-enabled and can store NFTs. Unlike software wallets, it stores your crypto data and keys on a physical device. Built on the versatile BOLOS security operating system, it allows staking of various cryptocurrencies via the Ledger Live app on Android or iOS. It’s perfect for long-term crypto storage.
The Electrum Crypto Wallet is an excellent choice for storing Bitcoin securely. This software wallet verifies your transactions on the Bitcoin blockchain and offers flexibility by allowing the splitting of spending permissions among several wallets. You can keep your private keys offline with a watching-only wallet and recover your funds with a secret phrase. However, Electrum only supports Bitcoin, making it less suitable for those interested in other cryptocurrencies.
The Crypto.com DeFi wallet is a non-custodial wallet that offers a full suite of DeFi services on a single platform. It allows management of over 100 types of coins, such as Bitcoin and Ethereum, and easy import of existing wallets with a recovery phrase. You can earn interest on over 35 tokens, swap DeFi tokens directly, and your private keys are securely encrypted locally on your device with Secure Enclave, protected by biometric and two-factor authentication.
Crypto Wallets Guide:
The top crypto wallets keep your digital currency safe and secure. Unlike wallets on crypto exchanges, these dedicated products have robust security features and are less targeted by hackers. Learn why cryptocurrency can be a great long-term investment and why a dedicated wallet is preferable to an exchange.
What Are Crypto Wallets?
A crypto wallet stores the private keys to your crypto, NFTs, and other digital assets, similar to how a traditional wallet holds your cash and credit cards. Losing the private keys means losing access to your funds, so a crypto wallet ensures this data is stored securely, accessible only to you.
How Do Crypto Wallets Work?
When receiving digital currency, you need a public key (generated by the wallet provider) and a private key (known only to you). Crypto wallets offer either hot (internet-connected) or cold (offline) storage for your private keys, ensuring your crypto and digital assets are protected.
Types of Crypto Wallets:
Software wallets (hot wallets) are always connected to the internet and include web, desktop, and mobile versions.
Hardware wallets store private keys on a physical device, similar to a flash drive, which you can connect to your computer when needed.
Paper wallets store private keys on paper, often via printed QR codes, though they come with security risks.
Important Factors to Consider:
Security: Look for features like encryption and multi-factor authentication.
Investing Style and Goals: Some wallets support buying, selling, trading, and earning interest on your crypto.
Compatibility: Choose a wallet type (desktop, online, hardware) that suits your preferences. Some software wallets are compatible with hardware wallets, offering the best of both worlds.
How We Found the Best Crypto Wallets of June 2024:
We reviewed user testimonials and focused on wallets free for storage and those requiring a hardware device. We considered functionality, the ability to earn money via interest or staking, and ease of use for buying, selling, or trading crypto assets.
Our Top Picks Remain:
Guarda Wallet: Best Overall
Exodus: Best for Flexibility
Coinbase Wallet: Best for Beginners
Ledger Nano X: Best Offline Crypto Wallet
Electrum Crypto Wallet: Best for Bitcoin
Crypto.com DeFi Wallet: Best DeFi Wallet
