9 Best Crypto Wallets of 2024

A bitcoin wallet may be worth it if you’re looking to trade, buy, or receive bitcoin and other cryptocurrencies and don’t already have wallet storage through an online crypto exchange. Your crypto wallet holds the keys to your coins and tokens, and it’s how you’ll buy and sell digital currency. The blockchain of any cryptocurrency contains a public record of all the transactions that have been made since it began. Your wallet address keeps a record of all your transactions and tracks your crypto balance.

Best for Mobile Users: Mycelium

• Meanwhile, Ledger Live is still evolving to support more asset types and networks all the time.
• Coinomi is a desktop and mobile wallet that supports over 1,770 coins and tokens on 125 different blockchains.
• But if you’re planning to protect multiple kinds of cryptocurrencies in one place, it’s a good idea to shop around.
• The public key can be compared to a bank account number that you can share with third parties to receive crypto without worrying that your assets will be compromised.

The compensation we receive may impact how products and links appear on our site. Some cryptocurrencies have their own official wallets, while other products allow you to store multiple currencies within the same wallet. The wallet’s streamlined, cross-chain UI makes sending, receiving and trading NFTs and cryptos across blockchains simple and user-friendly. The Crypto.com DeFi Wallet also features in-app swaps via the Ethereum, BNB Smart Chain, Cronos, and Polygon blockchains.

What Is A Bitcoin Wallet?

Hold the keys to your Bitcoin (BTC) coins in a wallet so secure, no one can access it except for you – not even us. Automatically back up all your wallets and restore access with a single custom password. Wallets can also be categorized as custodial or non-custodial, depending on who holds the private keys. Storing your crypto in a custodial wallet means that a third party controls your private keys and, therefore, your assets.

• However, there are various different types of wallets available, each with their own pros and cons.
• It comes with a built-in display where you can check transactions, and buttons to use for confirmation.
• Our star ratings range from poor (one star) to excellent (five stars).
• Digital or software-based wallets, on the other hand, can come in the form of apps that you can access on a computer or a mobile device.

• These factors include customer support, wallet custody, platform accessibility, security, and wallet compatibility.
• With BitBox’s BitBox02 hardware wallet, you can store your crypto private keys and manage any assets offline through an external chip.
• There are many single-purpose solutions built for individual cryptocurrencies.
• You can opt to secure with one or multiple signatures and can share accounts among users.

Investopedia launched in 1999 and has been helping readers find the best Bitcoin wallets since 2020. Bitcoin Improvement Proposal 32 (BIP 32) provided the solution to this impracticality in 2013. To clarify, entropy is a very random number—one that is practically impossible to guess. An HD wallet uses this number to generate a near-infinite number of private keys that all relate to that original number. Plus, each public key is derived from a private key using a trapdoor function. That means it’s very easy for the private key to point to the public key, but nearly impossible for someone to work out your private key with the public key.

• The exchange offers hundreds of coins and tokens, in addition to its powerful crypto wallet storage.
• If you’re looking for additional security, especially if you have a large amount of bitcoin to protect, a hardware wallet might be the best option.
• In English Literature and Professional Writing from the University of Indianapolis, where she also worked as a graduate writing instructor.
• They tend to cost money, because you have to buy a piece of actual hardware that’s set up to store your crypto.
• To set up a Bitcoin wallet on Ledger, you need to begin by downloading and installing Ledger Live, if you haven’t already.

Security features include two-factor authentication, Secure Enclave technology, and biometric authentication. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current. Our information is based on independent research and may differ from what you see from a financial institution or service provider.

• Multi-signature wallets require multiple signatures to authorize transactions.
• This means you can connect the wallet to your iOS or Android device without needing a computer.
• Its longevity is a testament to its reliability and this exchange has a solid reputation when it comes to security.
• One downside is that this HD wallet is lacking some of the security features we’ve seen above, such as multisignature transactions and two-factor authentication.
• A hardware wallet is considered cold storage because it takes your private keys offline.

Your information is not stored on any database and asset ownership is entirely in your hands; an important element of decentralization. Founded in 2014, Coinomi was the first ever multichain wallet to come to market. If you want to view cryptos that aren’t listed by default, Trust Wallet also lets you import custom tokens. You’ll need to be careful to verify contract addresses when doing this, as anyone can create fake versions of existing cryptos. Its easy-to-use interface makes it a popular choice for beginners and pros alike.

Top Bitcoin Wallets 2024: Reviews, Comparisons, and Security Tips

That means if that centralised entity, such as an exchange, becomes bankrupt, your funds may be at stake. Bitcoin was the first ever cryptocurrency, and therefore the first network to support crypto wallets. The first wallet ever created belonged to Bitcoin’s founder, Satoshi Nakamoto. Today, Bitcoin wallets are much more complex and capable than Satoshi’s first wallet. Crypto wallets come in many forms, from hardware wallets, like Ledger’s, to mobile apps that you can download on your phone or tablet.

One way to choose a wallet is by looking at the website of the cryptocurrency you’re hoping to store. There are many single-purpose solutions built for individual cryptocurrencies. For example, MetaMask is often considered a top Ethereum wallet because it focuses solely on ERC-20 tokens. Similarly, Electrum is among the top Bitcoin wallets because it’s built specifically for Bitcoin power users. Ledger is one of the most popular hardware crypto wallet providers on the market, and for good reason.

• This is among the safest ways to store your passkeys as long as you have a safe connection.
• Crypto wallets keep your private keys (the passwords that give you access to your owned cryptocurrencies) secure.
• Software Bitcoin wallets include applications for desktop and mobile devices.
• Mobile Bitcoin wallets are software wallets you can install on your phone.
• We chose Trezor as best for security because it comes with the strongest security features and track record of any reviewed hardware wallet.

Bitcoin Wallets are Hierarchical Deterministic Wallets

It is more limited in terms of the coins it can store but promises to add more soon. Plus, its larger screen size means less chance of potential error when reviewing transactions. Alexander Ostrovskiy The KeepKey wallet is pin-protected and provides a twelve-word recovery phrase. Copay is a product of BitPay, makers of a popular bitcoin payment platform.