17 Best Crypto Wallets for October 2024

Navigating the world of cryptocurrencies can be overwhelming – especially for beginners. As more and more people become involved in the crypto market, understanding the importance of secure digital currency storage becomes crucial.

This guide discusses the best crypto wallets for October 2024. We’ll also explore the various types of cryptocurrency wallets available, before providing a quick-step walkthrough showcasing how to set up a secure wallet in minutes.

The Best Crypto Wallets Reviewed — Our Top Picks

Choosing the best wallet for crypto is crucial for secure and efficient cryptocurrency management. We reviewed and ranked wallets based on key factors like security, user-friendliness, supported cryptocurrencies, features, and fees.

Whether you need a hardware wallet for maximum security or a mobile wallet for convenience, our top picks cater to various needs and preferences. Here’s our comprehensive review of the best crypto wallets available in October 2024.

1. Best Wallet – Overall Best Wallet for Crypto in October 2024

Why we chose it: Best Wallet is the overall best wallet for October 2024 due to its holistic approach to user autonomy, privacy, and versatile functionality. It excels in supporting multiple blockchains, providing advanced security features, and offering extensive tools for market analysis and asset management.

Best Wallet is a multi-chain, non-custodial wallet designed for versatile and privacy-oriented digital asset management. Unlike many traditional wallets, Best Wallet is an anonymous crypto wallet with no KYC verification, ensuring user privacy. This makes it an excellent choice for users who prioritize anonymity and security.

Best Wallet integrates a comprehensive Web3 ecosystem, supporting various coins, tokens, and NFTs from multiple blockchains, namely Bitcoin, Ethereum, Polygon, and Solana. It features a native utility token ($BEST), providing holders with no gas fees and additional airdrop rewards. The wallet’s user interface is designed for ease of use on iOS and Android, ensuring accessibility for all users. Check out our Best Wallet review to learn more about this non-custodian wallet.

Standout Features

• Presale Dashboard: Access to promising crypto presales at low prices.
• Token Airdrops: Regular airdrops of $BEST tokens and other cryptos for active users.
• Market Sentiment Analysis: Real-time insights and sentiment scores based on social media analysis.
• Advanced Security Measures: End-to-end encryption, two-factor authentication, and biometric security options.

Visit Best Wallet

2. Exodus – Best Wallet for Privacy

Why we chose it: Exodus keeps your private keys and transaction data on your own device to ensure high safety. While it lacks advanced security features like two-factor authentication or open-source code, you can connect it to a Trezor hardware wallet for even better protection.

It has a sleek and simple design that makes it perfect for beginners and experienced users. The platform offers support for over 300 cryptos. You can use Exodus on many devices, like your desktop computer (Windows, macOS, Linux), phone (iOS and Android), or even a browser extension. The wallet also has a built-in exchange that lets you swap between cryptos.

You can also earn passive income using the wallet’s staking function. The amount you can earn varies, but it’s often competitive compared to other platforms. Lastly, the wallet has excellent customer support. They offer 24/7 help and have a huge library of educational materials to guide you through the basics of crypto wallets. Learn more about this crypto wallet by reading our Exodus review.

Standout Features

• Private Key Control: Keeps private keys and transaction data on your device for high security.
• Device Compatibility: Available on desktop (Windows, macOS, Linux), mobile (iOS and Android), and browser extensions.
• Built-In Exchange: Allows swapping between cryptos without leaving the wallet.
• Staking Functionality: Earn passive income with competitive staking rewards.

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3. Margex Wallet – Best for Margex users

Why we chose it: Margex Wallet is great for people who want an integrated wallet within a reliable crypto exchange. This exchange lets traders leverage up to 100x to maximize returns even in a down market. It’s a good choice for both new and experienced traders because of its simple design, low fees, and advanced tools like copy trading.

The wallet stands out because it has low fees, doesn’t charge for deposits, and promises high staking rewards. For people who are new to crypto trading, the copy trading tool is very helpful because it lets them copy the strategies of more experienced traders in real time.

Standout Features

• Staking with Trading: Users can stake assets like USDT and USDC to earn up to 5% APY while still using those funds for leveraged trades.
• Copy Trading: Users can mirror top traders’ positions, making it easy for beginners to engage in the market without advanced knowledge
• Leverage Trading: Margex offers up to 100x leverage on Bitcoin, Ethereum, and Binance Coin, with varying leverage limits on altcoins.

Visit Margex

4. Zengo – Best Crypto Wallet for Beginners

Why we chose it: Zengo is the best crypto wallet for beginners due to its user-friendly interface and robust security features that don’t require managing seed phrases. The wallet’s educational resources and 24/7 support make it ideal for new users.

Zengo is a non-custodial crypto wallet designed for beginners. It supports over 1,000 cryptocurrencies, including NFTs and all ERC-20 tokens. Zengo also provides educational content through blogs, podcasts, and “ask me anything” sessions. Although it currently lacks support for some popular assets and a desktop app, Zengo plans to expand its features and asset support in the near future.

Zengo offers a unique security system that eliminates the need for traditional seed phrases or private keys. A seed phrase is a backup key comprising 12-24 words needed to access a cryptocurrency wallet. Losing it means losing access to your funds. Zengo’s beginner-friendly approach eliminates the need for a seed phrase, using multi-party computation (MPC) and three-factor authentication (3FA) instead, simplifying security and reducing the risk of losing access.

Learn more about this crypto wallet by reading our Zengo review.

Standout Features

• Generational Inheritance: Pro version includes a feature to pass on assets to family or friends.
• 24/7 Support: Round-the-clock customer support available through the app.
• NFT Viewing: Ability to store and view NFTs directly in the app.
• Web3 Integration: Connects with dApps via WalletConnect for enhanced functionality.

Visit Zengo

5. BloFin Wallet – Best for BloFin exchange users

Why we chose it: The BloFin Wallet is another popular wallet integrated with an exchange. This platform has a relatively advanced trading ecosystem that allows you to engage in copy trading, spot trading, and futures trading.

It’s perfect for active traders who focus on futures contracts and want a wallet that makes transacting easier and safer. Fireblocks has also teamed up with the site to provide asset custody and insurance to users to ensure their money’s safety.

The design is pretty smooth and works on both phones and computers, making it simple for users to navigate. BloFin supports many languages, so people from all over the world can use it. To make things even safer, the platform has cutting-edge tools like an AI-driven Know-Your-Transaction (KYT) solution.

Standout Features

• Security: Collaborates with Fireblocks for asset custody and uses advanced AI-powered blockchain intelligence for transaction monitoring.
• Mobile Compatibility: It is available on iOS, Android, and desktop platforms, ensuring users can trade anytime, anywhere.
• Transparency: Provides a 1:1 reserve for customer assets to ensure transparency and security.

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6. Ledger Stax – Best wallet for touchscreen usability

Why we chose it: The Ledger Stax is one of the best crypto wallets for touchscreens. It has a sleek, curved E-Ink display and an original design that makes it easy and safe to manage digital assets. The touchscreen interface also makes it easy to verify and sign transactions.

The Ledger Stax wallet is made for people who priotize both safety and ease of use. It has a curved E Ink touchscreen that offers maximum readability and gives users a smooth experience. This lets them connect with their crypto assets in a way that feels natural. The wallet is powered by Ledger’s Secure Element chip, which has been a key part of their top-notch protection for years.

The Ledger Stax is ideal for people who need a wallet that can be left on standby for a long time because it has a long-lasting battery and can be charged wirelessly. The device’s ability to customize the screen with NFTs or images further adds a personal touch to the already innovative design.

Standout Features

• Curved E Ink touchscreen: Provides a user-friendly interface to easily review and sign transactions.
• Customizable display: Users can personalize the wallet with their favorite NFTs or images, even when it’s turned off.
• Magnetic stacking design: Allows users to stack multiple Ledger Stax devices, optimizing storage for different assets.
• Wireless charging: Offers convenient charging options, improving portability.

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7. Cypherock – Best wallet for seed security vulnerabilities

Why we chose it: Cypherock is one of the best hardware wallets for eliminating the risks of seed phrases. It offers a new way to protect crypto assets by storing private keys on multiple devices instead of in one central location. This significantly reduces the chances of losing funds due to a compromised or forgotten seed phrase.

The Cypherock X1 is designed to be as safe as possible. It divides the private key into five parts and puts one in the X1 Vault. The other four parts are then sent to separate X1 Cards. This method ensures there isn’t a single point of failure, unlike traditional wallets that use a single seed phrase. Even if some cards are lost, transactions can still be made with one card and the vault.

Cypherock is highly praised for its security, especially after being independently audited by Keylabs. This firm is known for identifying vulnerabilities in other leading wallets like Ledger and Trezor. Because the wallet stores keys in multiple places, your private keys will never be connected to the internet, keeping them safe from online risks.

Standout Features

• Shamir’s Secret Sharing: Private keys are cryptographically split and stored on separate devices to ensure no single point of vulnerability.
• 4-in-1 wallet: This wallet allows the use of four hardware wallets in one, and it is fully BIP39 compatible for generating distributed entropy.
• Open-source with a secure element: Offers transparency using a high-security architecture similar to bank credit cards.

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You can use the promo code “coldwallet” to get 17% on your purchase

8. Ellipal – Overall Best Hardware Crypto Wallet

Why we chose it: Ellipal was selected as the overall best cold wallet, also known as a hardware wallet, due to its industry-leading security features, including fully air-gapped operation, anti-tamper protection, and support for a vast range of cryptocurrencies. Its robust design and innovative security measures make it an excellent choice for securely storing digital assets.

Ellipal offers two top crypto hardware wallets: the Titan 2.0 and Titan Mini. These wallets are crafted from a single piece of metal with a sealed touchscreen, ensuring durability and security. Unlike other hardware wallets, Ellipal operates without any wired or wireless connections, relying solely on QR code scanning for transactions and MicroSD for firmware updates.

Ellipal supports over 10,000 coins and tokens across more than 40 blockchains. It features a dual-layer defense with a CC EAL 5+ Secure Element chip and a companion mobile app for seamless interaction with decentralized applications. The Titan 2.0 offers a larger screen, while the Titan Mini is more compact and portable, both providing top-notch security and usability.

Learn more about this crypto wallet by reading our Ellipal review.

Standout Features

• Anti-Disassembly and Anti-Tamper Technology: Ensures device integrity and security against physical tampering.
• Magnetic Connector Charging: Eliminates the need for USB ports, enhancing security.
• Secret Second Wallet: Provides an alternative account with a separate password for added security.
• Offline Firmware Updates: Uses a MicroSD card for updates, avoiding potential online vulnerabilities.

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9. Ledger – Most User-Friendly Hardware Wallet

Why we chose it: Ledger is the most user-friendly hardware wallet, thanks to its Ledger Live app, easy integration with third-party services, robust educational resources, and responsive customer support. This makes managing your crypto straightforward, whether you’re a beginner or an experienced user.

Ledger offers two models: the Nano S Plus at €79 and the Nano X at €149. Both support over 5,500 cryptocurrencies. The Nano X adds Bluetooth connectivity, allowing you to manage your assets via mobile. These models provide comprehensive support for DeFi applications, staking, and NFT management.

Choosing Ledger means opting for a secure, versatile solution. The software isn’t fully open source, but it compensates with multisignature security and two-factor authentication. With Ledger, you can access dApps and easily switch between hot and cold storage, making it a top choice for diverse crypto needs.

Learn more about this crypto wallet by reading our Ledger Nano X review and Ledger Nano S Plus review.

Standout Features

• Ledger Academy: Offers a comprehensive library of educational content, helping users understand blockchain and secure cryptocurrency storage practices, making it easier for beginners to get started.
• Firmware Integrity Check: Ledger devices perform a self-check at startup to ensure the firmware hasn’t been tampered with, providing an additional layer of security against unauthorized modifications.
• Secure Element Chip: Both Ledger models use a certified secure element (CC EAL5+), which is designed to withstand sophisticated attacks and securely store cryptographic secrets.
• Customizable Security: Ledger allows users to add a passphrase to the standard 24-word recovery seed, offering enhanced security through a customizable 25th word.

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10. Coinbase Wallet – Top Crypto Wallet for DApp Interaction

Why we chose it: Coinbase Wallet is the best cryptocurrency wallet for dApp interaction. It features a built-in browser for dApps and Web3 services, enabling easy access to staking, yield farming, and NFT marketplaces. This integration simplifies managing your assets across various platforms without leaving the wallet.

Supporting thousands of cryptocurrencies, Coinbase Wallet includes major coins like Bitcoin, Ethereum, and all ERC-20 tokens. Its partnership with Ledger allows seamless transfer to hardware wallets for offline storage, enhancing security. The mobile app and browser extension ensure you can manage your assets from any device with ease.

Despite its strengths, Coinbase Wallet has some limitations. It’s not fully open source and doesn’t offer multisignature support or two-factor authentication. Still, for those seeking a user-friendly wallet with extensive dApp interaction and support for numerous assets, Coinbase Wallet is an excellent choice. Read our Coinbase Wallet review for more information.

Standout Features

• Multi-Chain Integration: Supports multiple blockchains, including ERC, BEP, ARC, SPL, OERC, AERC, and FRC tokens, enhancing your ability to interact with diverse dApps.
• Private Key Control: You maintain complete control over your private keys, ensuring your assets are securely stored and managed without third-party intervention.
• Integrated Exchange Access: Directly access Coinbase’s exchange for seamless buying, selling, and trading of cryptocurrencies within the wallet interface.

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11. Bybit Wallet – Best Crypto Wallet for Advanced Traders

Why we chose it: Bybit Wallet is the best crypto wallet for advanced traders. As the custodial wallet of the Bybit exchange, it supports advanced trading functionalities that cater to high-level trading strategies.

Bybit Wallet provides users with a secure gateway into Web3, including DeFi, GameFi, and NFTs. With a simple one-click setup, users can access various dApps and services. The wallet supports over 400 coins, allowing users to trade seamlessly using the Bybit exchange through the mobile app.

As a custodial wallet, it manages private keys on behalf of users, offering ease of use and quick access to funds. However, custodial wallets carry the risk of the provider being compromised. In contrast, non-custodial wallets give users full control over their private keys, but require more personal responsibility for security. Bybit Wallet balances these considerations by storing most assets in cold storage and implementing two-factor authentication for enhanced security.

Standout Features

• Integrated DApp Aggregator: Curated selection of decentralized applications.
• Educational Resources: ByBit Learn and Crypto Insights for user education.

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12. Binance Wallet – Best Crypto Wallet for Beginner Traders

Why we chose it: Binance Wallet is the best crypto wallet for beginner traders because it combines ease of use with comprehensive features. It provides an intuitive interface, supports a wide range of cryptocurrencies, and integrates directly with the Binance exchange for seamless trading. Its robust security measures ensure that beginners can store their assets safely.

Binance Wallet offers a user-friendly experience that makes it easy for newcomers to get started with cryptocurrency. It supports over 150 coins and tokens, allowing users to manage a diverse portfolio. The wallet is integrated with Binance’s powerful exchange, enabling users to trade directly from their wallet.

This crypto wallet features a simple registration process, requiring only basic information to set up. Once registered, users can deposit funds, trade, and withdraw assets with ease. As a custodial wallet, Binance manages the private keys, reducing the complexity for beginners. However, this also means users must trust Binance to secure their assets.

Standout Features

• Educational resources: Binance Academy offers tutorials and guides to help beginners understand the basics of cryptocurrency trading.
• Staking and earning: Users can stake their cryptocurrencies directly from the wallet to earn rewards.
• Built-in fiat gateway: Allows users to purchase cryptocurrencies with fiat money via various payment methods.
• 24/7 support: Though customer support can be limited, Binance offers 24/7 support through its website and app.

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13. OKX Wallet – Best Crypto Wallet for NFTs

Why we chose it: The OKX Wallet is the best for NFTs due to its comprehensive NFT aggregator platform, supporting multiple networks and offering free NFT creation and trading. Its user-friendly interface and cross-chain support make it ideal for both beginners and advanced users interested in NFT investing.

OKX Wallet serves as a gateway to Web3, providing features such as crypto asset storage, NFT support, and a decentralized exchange (DEX). The wallet ensures compatibility with a wide range of devices, including iOS, Android, Windows, and MacOS.

The OKX Wallet stands out for its cross-chain support, allowing users to manage crypto assets from over 100 networks like Ethereum, Polygon, Avalanche, and OKTC. Additionally, the one-stop NFT aggregator platform supports several networks and offers free creation and trading services.

The wallet also includes an “Earn” feature, enabling users to earn yield on their crypto assets through DeFi protocols. The built-in DEX and bridge aggregator allow for seamless token swaps across top blockchains.

Standout Features

• NFT portfolio management tools: Advanced tools for managing NFT portfolios, including tracking performance, setting alerts, and viewing detailed analytics of NFT assets.
• Integration with DeFi protocols: Direct integration with popular DeFi protocols allows for seamless staking, lending, and borrowing directly from the wallet interface.
• Customizable gas fees: Users can adjust gas fees to optimize transaction costs and speeds, providing flexibility for various transaction needs.
• Built-in security features: OKX Wallet includes advanced security measures such as multi-factor authentication (MFA) and biometric security options.

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14. NGRAVE ZERO – Best Crypto Wallet for Security

Why we chose it: The NGRAVE ZERO is the best crypto wallet for security due to its unmatched security certifications and innovative features that ensure the highest level of protection for your assets. It uses a real-time generated private key and air-gapped technology to eliminate exposure to online threats.

This hardware crypto wallet is designed to provide ultimate security for your digital assets. It features a robust, military-grade build and an intuitive touchscreen interface. The device never connects to any network, making it immune to online attacks.

The NGRAVE ZERO offers biometric security measures like fingerprint scanning, a unique light sensor for secure key generation, and tamper-resistant hardware. The device’s air-gapped design ensures that it never comes into contact with the internet, protecting it from hacking attempts.

Standout Features

• Real-time key generation: Uses environmental factors like light levels to generate a unique, truly random key during setup, ensuring no pre-set keys exist.
• Graphene backup: This innovative two-part stainless steel backup solution ensures your keys are secure, resistant to physical damage, and can be recovered without third-party intervention.
• Robust build: The device is water and dust-resistant, with a durable design that can withstand physical shocks and damage.

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15. Trezor – Most Affordable Hardware Wallet

Why we chose it: Trezor offers the most affordable hardware wallets in 2024. The Trezor Model One is priced at €59, making it cheaper than the Ledger Nano S Plus at €79 and significantly more affordable than other competitors like Ellipal and NGRAVE ZERO.

Trezor provides three models: the Model One (€59), the Trezor Safe 3 (€79), and the Trezor Safe 5 (€169). All models offer secure offline storage for cryptocurrencies, supporting over 9,000 coins and tokens. However, they lack native staking and NFT features, and there is no mobile app or Bluetooth connection.

If you prioritize security and don’t need mobile access, Trezor is a solid choice. The Model T includes Shamir Backup for added security, but advanced features may require third-party software. For users looking for simplicity and affordability, Trezor’s offerings are a reliable option.

Learn more about this crypto wallet by reading our Trezor Model T review and Trezor Safe 3 review.

Standout Features

• Enhanced Recovery Options: Trezor’s Shamir Backup allows you to split your recovery seed into multiple shares, increasing security and redundancy.
• Fully On-Device Entry: The Trezor Model T offers a touch screen for secure PIN and passphrase entry directly on the device.
• Multisignature Security: Trezor integrates with Electrum to require multiple keys for transaction authorization, providing an extra layer of security.

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16. MetaMask – Best Crypto Wallet App for Ethereum

Why we chose it: MetaMask is the best crypto wallet app for Ethereum due to its seamless integration with the Ethereum network, extensive support for dApps and DeFi, and its popularity among users for its ease of use and non-custodial nature.

MetaMask is a popular decentralized cryptocurrency wallet used by over 30 million people. As a non-custodial wallet, MetaMask gives users full control of their private keys. Initially launched as a browser extension, MetaMask now also offers a mobile app, making it versatile and accessible.

As the best ERC-20 wallet, MetaMask supports a wide range of Ethereum-based tokens and is compatible with major web browsers and mobile platforms. Users can easily connect to dApps such as Uniswap and OpenSea, enabling efficient token swaps and NFT trading. While it only comes pre-installed with the Ethereum network, users can manually add other networks like Binance Smart Chain and Polygon.

Learn more about this crypto wallet by reading our MetaMask review and our guide on how to set up a MetaMask wallet.

Standout Features

• In-built token swap: Allows users to swap tokens directly within the wallet interface by leveraging third-party liquidity pools.
• Staking integration: Offers staking options through third-party providers like Lido and Rocketpool, enabling users to earn interest on their Ethereum holdings.
• NFT support: Supports ERC-721 and ERC-1155 NFTs, allowing users to store and manage their NFT collections directly within the wallet.
• Educational resources: Provides extensive guides and tutorials to help users understand and maximize the use of the wallet and its features.

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17. Phantom Wallet – Best Crypto Wallet for Solana

Why we chose it: Phantom Wallet is the best crypto wallet for Solana due to its seamless integration with the Solana blockchain, robust security features, and user-friendly interface that supports staking and token swaps.

Phantom Wallet is a non-custodial, multichain Web3 wallet that supports the Solana, Ethereum, and Polygon networks. It started as a Solana-based wallet but has since expanded to support other networks, making it versatile and comprehensive. Users can easily manage their crypto and NFTs, stake Solana, swap tokens, and access various DeFi applications.

It provides a high level of security with features like scam detection, transaction previews, and an open-source block list to flag malicious transactions. It also integrates with Ledger hardware wallets for enhanced security, although this feature is currently limited to specific browsers and not supported on mobile apps.

Learn more about this crypto wallet by reading our guide on how to setup a Phantom Wallet.

Standout Features

• Solana-only mode: Allows users to switch to a Solana-focused experience, simplifying the interface for those primarily using the Solana network.
• Instant sell for NFTs: Aggregates offers from top marketplaces and provides the best possible price directly within the wallet.
• Burn NFT feature: Enables users to remove unwanted spam NFTs and rewards them with Solana tokens for doing so.
• Biometric security on mobile: Ensures secure access to the wallet using fingerprint or facial recognition.

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What Is a Crypto Wallet?

Crypto wallets are software programs or hardware devices that allow users to manage, transfer, and store cryptocurrency safely. Some also support NFTs and other digital assets. Wallets can be hardware-based, like USB devices, or software-based, such as mobile apps and desktop programs.

Wallets can also be categorized as custodial or non-custodial:

• With custodial wallets, the provider controls the private keys, meaning that you rely on them for security. On the flip side, it’s easier to recover access if you lose your login details. Examples include the Binance and OKX wallets.
• With non-custodial wallets, you have full control of your private key and assets. However, if you lose your private key, you lose access to your funds. Examples include Zengo and NGRAVE.

In other words, custodial wallets offer convenience with some trust in a third party, while non-custodial wallets provide more control and responsibility over your assets.

In essence, a cryptocurrency wallet acts like a digital bank account, managing and safeguarding your cryptocurrency assets.

How Do Crypto Wallets Work?

A cryptocurrency wallet keeps digital assets secure by storing private and public keys, which are used for transactions.

• Public Key: The public key can be considered the wallet’s “account number” and is used to receive funds from other wallets. It can be shared with others to receive funds.
• Private Key: The private key is an alphanumeric code unique to each wallet and used to prove ownership of the crypto assets inside. The private key is like a password, meaning it should never be shared with anyone else.

Crypto wallets store and manage the private key – not the actual crypto assets. Crypto assets are held on the blockchain; the private key simply provides access to them and proves ownership.

The best wallets for crypto use advanced cryptographic techniques to protect the user’s private key. Different wallets have different approaches. Examples include encryption, seed phrases, biometric verification, and Hardware Security Modules (HSMs). Digital wallets typically offer backup and recovery options that ensure users can’t lose access to their crypto.

How to Store Seed Phrases Securely

After choosing one of the top non-custodial wallets, you will be provided with a seed phrase, which acts as your master key. After correctly inputting the seed phrase, users get access to their crypto wallet. Therefore, it is important to properly store your seed phrase with a high-quality device like Cryptotag. This device stores your seed phrases in aerospace-grade titanium plates. Depending on which Cryptotag product is selected, users can store between 24 and 42 seed phrases. The storage device is bullet-proof and offers water and heat resistance.

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Types of Crypto Wallets: Which Should You Choose?

Deciding to buy cryptocurrency is a huge decision – yet choosing where to store them post-purchase is just as important. There various types of wallets on offer. Below, we go over what software, hardware, and paper wallets are, and which you should choose.

Software Wallets (Hot Wallets)

Software wallets are ideal for frequent traders and users who need easy, quick access to their cryptocurrencies. They offer convenience and accessibility on mobile or desktop devices, making them suitable for everyday transactions, unlike hardware or paper wallets, which are better for long-term storage.

There are two main types of software wallets:

• Mobile wallets: These are smartphone apps designed to provide on-the-go access to the user’s cryptos. Mobile wallets are often offered for free by top crypto wallets like Best Wallet.
• Desktop wallets: These are applications that can be downloaded and installed on the user’s computer. Desktop wallets are slightly safer than mobile wallets since they store the user’s private key locally on the computer. MetaMask is an example.

Software wallet are also known as ‘hot wallets’ since they’re connected to the internet. This makes them more susceptible to cyberattacks than ‘cold’ wallets, which have no connection to the internet.

Hardware Wallets (Cold Wallets)

Hardware wallets are best for users prioritizing security, such as long-term investors. They store private keys offline, reducing hacking risks. Ideal for substantial holdings, they offer strong protection against cyber threats, unlike software wallets, while being more durable and user-friendly than paper wallets.

These devices usually look like USB sticks and need to be connected to another device, such as a laptop or smartphone, to initiate transactions. So, despite being safer, hardware wallets aren’t as convenient as software wallets.

Still, they’re essential for investors or traders managing large sums of crypto. In these cases, the relatively high cost of a hardware wallet is justified by the enhanced security it provides, safeguarding significant assets from potential cyber threats.

Paper Wallets

Paper wallets are best for users who need an offline and cost-free storage method. They’re a type of “cold” storage that involves a user writing their public and private keys on a piece of paper.

The user would then store this piece of paper somewhere safe where nobody else could access it — for example, in a safe, safety deposit box, or locker. Ideal for long-term investors, paper wallets avoid online hacking risks. However, they require careful handling to prevent physical loss or damage.

The downside to this approach is that those with paper wallets still eventually need to use a crypto wallet app to spend or transfer digital assets. Thus, paper wallets are relatively impractical and considered less safe than the alternatives. Hence why they aren’t widely used.

How to Find Safe Crypto Wallets

Finding the best Web3 wallet can be tricky – especially since so many options exist. However, we’ve identified three tactics that traders can employ to find safe crypto wallets effectively.

Use a Reputable Provider

The most important tactic to use is only choosing crypto wallets offered by reputable providers. It’s a good idea to read online reviews and check a potential provider’s track record before downloading the wallet that they offer. Many crypto wallet providers are even endorsed by high-profile individuals or businesses, which can boost credibility.

Many of the top providers listed in this guide have a long track record of success in the space and high security scores. However, even highly trusted wallets can be susceptible to attacks. For example, Atomic Wallet was one of the leading providers in the space before North Korean hacker group Lazarus stole more than $100 million of customer funds.

Consider the Wallet’s Security Features

When choosing a Bitcoin wallet, it’s also essential to thoroughly research the wallet’s security features. We’ll explore this further in the next section, although it typically involves checking the type of encryption on offer and deciding whether to use a hot or a cold wallet.

Test the Wallet Before Making Large Transfers

Finally, it may be best to test out a wallet with a small amount of crypto before fully committing. This minimizes the risk of catastrophic loss while allowing users to test the wallet’s functionality and crypto security features. Assuming the wallet is up to the task, users can confidently transfer more significant amounts of crypto.

How to Get and Use a Crypto Wallet

Before ending this guide on the best wallets for crypto, let’s look at how to download and use one of these wallets. As noted earlier, our recommended crypto wallet is Best Wallet, which comes with a free app that’s simple to use and available on iOS and Android devices.

With that in mind, detailed below are the simple steps to download the Best Wallet crypto app and begin using it today:

Step 1 – Download the Best Wallet App

Best Wallet is available as a mobile app on both Android and iOS, so the first step is to head to the Play/App Store and download the Best Wallet app. It is free and shouldn’t take long to be added to your phone.

Visit Best Wallet

Step 2 – Create Account

Next, the app will ask you to create your account. Simply input your account name and password.

Step 3 – Confirm Security Features

Once an email address has been put in, the app will ask you to back up your mnemonic words. Read the instructions carefully here to make sure you keep your account safe. The mnemonic consists of 12 words and is used to restore your account.

Step 4 – Use the Best Wallet App and Wallet

An account should now have been created, and users should be able to use the Best Wallet app to manage their crypto assets.

Conclusion: What Is the Best Wallet for Crypto in October 2024?

This guide discussed the best crypto wallets available right now, equipping beginners with essential insights that will enable them to navigate the crypto market safely and cost-effectively.

We found Best Wallet to be the overall best crypto wallet in 2024 due to its robust security, multi-chain compatibility, user-friendly interface, and low transaction fees. It supports a wide range of cryptocurrencies and provides comprehensive features like staking, token swaps, and NFT management, making it a versatile choice for all crypto users.

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FAQs

What crypto wallet is the best?

Best Wallet

is the best crypto wallet in 2024 for its robust security, multi-chain support, user-friendly interface, and low fees. It offers features like staking, token swaps, and NFT management, making it a versatile choice for users.

What is the safest crypto wallet?

NGRAVE ZERO

is the safest crypto wallet in 2024 due to its EAL7 security certification, air-gapped technology, and robust physical security features, ensuring unmatched protection for users’ private keys and digital assets.

Which crypto wallet has the lowest fees?

Best Wallet

is completely free to use, meaning it’s an excellent option for those seeking a cost-effective option. Other wallet providers with low (or no) fees include Exodus, Binance Wallet, and MetaMask.

How do I choose a good crypto wallet?

Choosing a good crypto wallet involves analyzing several essential factors. These factors include the provider’s reputation, the number of supported crypto assets, the wallet’s functionality, and also its level of security/privacy.

Is Coinbase wallet good?

The Coinbase Wallet is extremely popular and is considered one of the best options for crypto traders/investors. This is because the wallet has a clean interface, allows access to thousands of dApps, and even supports NFTs.

What is the best crypto hardware wallet?

Ellipal

is the best crypto hardware wallet in 2024 due to its complete air-gapped security, user-friendly design, and support for multiple cryptocurrencies, ensuring top-notch protection and ease of use for all users.

References

• Best Wallet: Does Best Wallet Have a KYC Process?
• Zengo: Which assets does Zengo support?
• Ledger: Supported Coins & Tokens
• OKX: ETH Staking
• NGRAVE: Which coins are supported?