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10 Best Crypto Wallets for May 2024

Connor Brooke
Connor Brooke | Verified by Alan Draper
Last updated: | 28 min read
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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 May 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.

Top 10 Crypto Wallets in 2024

After reviewing over 40 wallets for crypto, we narrowed down our list to the 10 best crypto wallets for May 2024, ensuring variety to cater to diverse user needs and preferences.

  1. Best Wallet – Overall best crypto wallet in 2024
  2. Zengo – Best crypto wallet for beginners
  3. Ellipal – Overall best hardware wallet
  4. Ledger – Most affordable hardware wallet
  5. Bybit – Best for advanced traders
  6. Binance – Best for beginner traders
  7. OKX – Best for NFTs
  8. NGRAVE ZERO Best for security
  9. MetaMask – Best for Ethereum
  10. Phantom Wallet – Best for Solana

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 May 2024.

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

Best Wallet mobile app


  • Supports assets from Ethereum, Polygon, and BNB
  • NFT gallery for easy management
  • Two-factor authentication and biometric security
  • Active users eligible for $BEST token airdrop


  • No crypto wallet browser extension available yet

Why we chose it: Best Wallet is the overall best wallet for May 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 Ethereum, Polygon, and Binance Smart Chain. 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.

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.
Type of Wallet Non-custodial software wallet
Number of Supported Cryptos All tokens on Ethereum, Polygon, and Binance Smart Chain (Bitcoin coming soon)
Founded In 2023
Active Users 500,000+
Mobile App Yes
Desktop App No (coming soon)

Visit Best Wallet

2. Zengo – Best Crypto Wallet for Beginners

Zengo Wallet Homepage


  • Beginner-friendly interface and security features
  • Security system using MPC and 3FA
  • Supports thousands of cryptocurrencies
  • Generational inheritance feature in Pro version


  • No desktop app available yet

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.

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.
Type of Wallet Non-custodial software wallet
Number of Supported Cryptos 120+
Founded In 2018
Active Users 1 million
Mobile App Yes
Desktop App No (coming soon)

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

Visit Zengo

3. Ellipal – Overall Best Hardware Crypto Wallet

Ellipal wallet


  • Strong build quality with anti-disassembly and anti-tampering features
  • Fully air-gapped operations for transaction signing and software updates
  • Supports over 10,000 coins and tokens with multi-chain swaps in app


  • QR code scanning process may feel tedious for daily users
  • Not all coins can be staked within the Ellipal App

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.

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.
Type of Wallet Hardware wallet
Number of Supported Cryptos 10,000+
Founded In 2019
Active Users 1 million
Mobile App Yes
Desktop App No

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

Visit Ellipal

4. Ledger – Most Affordable Hardware Wallet

ledger nano crypto hardware wallets


  • Affordable price range ($79 to $149)
  • Uses a secure element chip
  • Supports over 5,500 cryptocurrencies
  • App can be used on desktop and mobile


  • Ledger Nano S Plus has no Bluetooth connectivity
  • Monthly fee for optional Ledger Recover service

Why we chose it: Ledger is the most affordable hardware wallet among similar-grade devices. Despite its affordability, it doesn’t compromise on quality, offering robust security features and broad support for various cryptocurrencies.

Ledger offers two models: the Ledger Nano S Plus and the Ledger Nano X. Both are renowned for their high security, featuring a secure element chip that isolates sensitive operations, ensuring your private keys are stored offline. Both wallets support over 5,500 coins and tokens across various blockchains through the comprehensive Ledger Live app.

The Ledger Nano S Plus, priced at $79, is designed for cold storage, meaning your assets are kept offline and safe from online threats. It includes physical buttons for transaction verification, PIN protection, and a proprietary operating system for enhanced security.

The Ledger Nano X, on the other hand, is priced at $149 and includes Bluetooth connectivity, making it more convenient for mobile use, especially with iOS devices. It offers the same high level of security as the Nano S Plus, with additional features like a larger screen and enhanced storage capacity.

Standout Features

  • Large storage capacity: Can install up to 100 apps simultaneously for managing different crypto assets.
  • Proprietary operating system: BOLOS ensures isolated application operations.
  • Physical buttons: Requires manual confirmation for transactions, further enhancing security.
  • Extensive educational resources: Ledger Academy offers comprehensive learning materials.
Type of Wallet Hardware wallet
Number of Supported Cryptos 7,300+
Founded In 2014
Active Users 1.5 million
Mobile App Yes
Desktop App Yes

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

Visit Ledger

5. Bybit Wallet – Best Crypto Wallet for Advanced Traders

ByBit NFT landing page


  • Integrates seamlessly with Bybit exchange
  • Supports over 400 cryptocurrencies
  • Advanced security features including 2FA
  • Access to DeFi, GameFi, and NFTs


  • Not beginner-friendly
  • Custodial wallet risks

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.
Type of Wallet Custodial software wallet
Number of Supported Cryptos 100+
Founded In 2018
Active Users 20 million
Mobile App Yes
Desktop App Yes

Visit Bybit

6. Binance Wallet – Best Crypto Wallet for Beginner Traders

Binance Web3 wallet


  • Easy to use for beginners
  • Supports a wide range of cryptocurrencies
  • Integrated exchange for seamless trading
  • High-security measures including 2FA and SAFU fund


  • Custodial wallet, meaning Binance controls private keys

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 400 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.
Type of Wallet Custodial software wallet
Blockchains Supported 400+
Founded In 2017
Active Users 170 million
Mobile App Yes
Desktop App Yes

Visit Binance

7. OKX Wallet – Best Crypto Wallet for NFTs

OKX crypto wallet


  • One-stop NFT aggregator platform
  • Supports free creation and trading of NFTs
  • Cross-chain support for over 50 networks
  • Easy-to-navigate interface suitable for beginners


  • Some users report issues with customer support response times

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). Supporting over 50 networks, 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 50 networks like Ethereum, Polygon, Avalanche, and OKTC. Additionally, the one-stop NFT aggregator platform supports 11+ 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.
Type of Wallet Custodial software wallet
Number of Supported Cryptos 350+
Founded In 2017
Active Users 50 million
Mobile App Yes
Desktop App Yes

Visit OKX

8. NGRAVE ZERO – Best Crypto Wallet for Security

ngrave zero hardware wallet


  • Highest security certification (EAL7)
  • Biometric security and light sensor
  • Air-gapped with no network connectivity
  • Durable, tamper-resistant design


  • Higher price
  • Limited cryptocurrency support currently
  • Large size may be less convenient

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.
Type of Wallet Hardware wallet
Number of Supported Cryptos 16 + all ERC-20 and ESDT tokens
Founded In 2018
Active Users Not publicly disclosed
Mobile App Yes
Desktop App No


9. MetaMask – Best Crypto Wallet App for Ethereum

MetaMask swap panel


  • Supports a wide range of Ethereum-based tokens and dApps
  • No account or maintenance fees
  • User-friendly interface


  • Does not support Bitcoin
  • Other networks must be added manually
  • Uses third parties for fiat purchases

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.

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.
Type of Wallet Non-custodial software wallet
Number of Supported Cryptos All tokens on Ethereum, Arbitrum, Optimism, Binance Smart Chain, Polygon, and Avalanche
Founded In 2016
Active Users 30 million
Mobile App Yes
Desktop App Yes

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

Visit MetaMask

10. Phantom Wallet – Best Crypto Wallet for Solana

phantom wallet


  • Multi-chain support for Solana, Ethereum, and Polygon
  • Supports Solana staking and token swapping
  • Integration with Ledger hardware wallet
  • High emphasis on security


  • Ledger integration not supported on Firefox or mobile apps
  • Initial setup may be complex for beginners

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.

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.
Type of Wallet Non-custodial software wallet
Number of Supported Cryptos All tokens on Solana, Ethereum, and Polygon
Founded In 2021
Active Users 3 million
Mobile App Yes
Desktop App Yes

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

Visit Phantom Wallet

Methodology: How We Selected the Best Wallets for Crypto

Careful consideration is crucial when selecting a crypto wallet to ensure security, compatibility, and cost-effectiveness. In this section, we’ll cover the key factors we evaluated, which helped us identify the best wallets for various user needs.

Security (25%)

Security is crucial for protecting your crypto assets from hacks and theft. We assessed each wallet’s security features, such as encryption, two-factor authentication, and private key management.

For example, NGRAVE ZERO achieved the highest security rating (EAL7) and uses air-gapped technology, making it the safest crypto wallet. We prioritized wallets with advanced security protocols to ensure the highest level of protection for users.

Compatibility (25%)

Compatibility ensures a wallet supports the cryptocurrencies users want to store and transact. We evaluated wallets based on their support for various blockchain networks and tokens.

For example, Best Wallet supports Ethereum, Binance Smart Chain, and Polygon, making it versatile for users active on these networks. We prioritized wallets that offer broad compatibility, ensuring users can manage multiple types of cryptocurrencies within a single platform.

User Experience (20%)

User experience is essencial for seamless navigation and ease of use. We assessed wallets based on their interface design, setup process, and overall user-friendliness.

For example, Zengo offers a straightforward mobile app, making it easy for beginners. We prioritized wallets with intuitive layouts, clear instructions, and responsive designs to ensure a positive user experience for both beginners and experienced users.

Reputation and Reviews (20%)

Reputation and reviews are important when assessing reliability and user satisfaction. We evaluated wallets based on user feedback, expert reviews, and industry reputation.

For instance, MetaMask is highly regarded with over 30 million users, indicating strong trust and reliability. We prioritized wallets with consistently high ratings and positive user experiences to ensure reliability and satisfaction.

Price and Fees (10%)

Price and fees are vital for evaluating the affordability of crypto wallets. For hardware wallets like Ledger and Ellipal, we considered purchase price. For software wallets, we examined transaction and swap fees.

For instance, MetaMask charges a variable fee for token swaps. Lower costs improve accessibility and value. Wallets with competitive pricing and minimal fees scored higher in this category.

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.

Ellipal wallet

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.

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.

download best wallet from google play or the apple store

Visit Ellipal

Step 2 – Create Account

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

best wallet login screen

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 May 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.

Visit Best Wallet


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 OKX, Binance, 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.


Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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At Cryptonews, we aim to provide a comprehensive and objective perspective on the cryptocurrency market, empowering our readers to make informed decisions in this ever-evolving landscape.

Our editorial team, comprised of more than 20 professionals in the crypto space, works diligently to uphold the highest standards of journalism and ethics. We follow strict editorial guidelines to ensure the integrity and credibility of our content.

Whether you’re seeking breaking news, expert opinions, educational resources, or market insights, is your go-to destination for all things crypto since 2017.