Cryptocurrency investors need secure storage solutions to protect their holdings from theft and unauthorized access. This review covers the best cryptocurrency wallets based on security, backup features, supported currencies, accessibility, fees and overall usability.
Summary
We examine popular software, hardware and paper wallets to fit different investors’ preferences and risk profiles. Key factors in selecting a crypto wallet include:
- Security protocols like encryption and multi-factor authentication
- Backup and restoration mechanisms in case of lost credentials
- Supported cryptocurrencies now and in the future
- Accessibility across devices and networks
- Costs, fees and control over your private keys
For crypto investors looking to keep their assets safe, we’ve reviewed the top wallets available:
- Ledger Nano X – Best Overall Crypto Wallet
- Trezor Model T – Most Secure Hardware Wallet
- Exodus – Best Web-Based Hot Wallet
- Zengo – Top Mobile Wallet [iPhone/Android]
- Billfodl – Best Open Source Software Wallet
- SafePal S1 – Most User-Friendly Paper Wallet
Read on for an in-depth look at highly rated wallets across categories.
6 Best Cryptocurrency Wallets
Ledger Nano X – Best Overall Crypto Wallet
The Ledger Nano X is the top choice for securely storing a wide range of cryptocurrency. With built-in Bluetooth connectivity, it works wirelessly with the Ledger Live app for mobile access to over 1500 currencies.
Standout features include:
- Robust security chip and PIN code authentication
- Backup recovery phrase support to restore wallet access
- Malware proof encrypted operating system
- Multi-currency support including Bitcoin, Ethereum, XRP, EOS and more
- Staking capabilities to earn rewards on crypto holdings
We recommend the Ledger Nano X as the premier cryptocurrency wallet for its convenience paired with enterprise-grade security vetted by independent audits.
Read More: Ledger Nano S Plus vs Nano X
Trezor Model T – Most Secure Hardware Wallet
Trezor’s Model T offers advanced security in a slim and elegant hardware device. It features:
- Passwordless design protected by PIN codes
- Built-in display for transaction verifications
- Recovery seed backup support
- Open source firmware code audited by security researchers
- Cryptocurrency staking directly through the wallet
With Trezor’s emphasis on open source transparency and independent security tests, it’s regarded as one of the most secure ways to store crypto offline long-term.
Exodus – Best Desktop Software Wallet
The Exodus wallet provides a seamless desktop experience to send, receive and exchange cryptocurrency.
It offers:
- Intuitive desktop interface compatible with Windows, Mac and Linux
- Support for over 200 coins and tokens
- Built-in crypto exchange to trade assets in-wallet
- Secure encrypted storage and backups
- Personal customer support via email
For investors preferring enhanced accessibility over cold storage, Exodus is considered the top software wallet solution.
Zengo – Best Mobile Cryptocurrency Wallet
The Zengo mobile wallet enables users to easily store, trade, and transact cryptocurrency on the go. Distinctive features include:
- Availability as iPhone, Android and browser extension wallet
- Over 70 currency support including Bitcoin, Ethereum and major altcoins
- Unique keyless wallet sign-in for enhanced security
- Built-in swapping between cryptocurrencies
- Payment support using QR codes at retailers
Zengo eliminates security vulnerabilities associated with private keys by leveraging multi-party computation for crypto protection on mobile devices.
Billfodl – Most User-Friendly Paper Wallet
Billfodl provides an extremely user-friendly paper wallet solution for long term offline storage called the Billfodl Multishard. Benefits include:
- Durable stainless steel construction of private key shards
- Laser-etched QR codes for each crypto address
- Secure Billfodl leather case with password and seed phrase backup
- Sharded design for distributed security across locations
- Support for 900+ cryptocurrencies
For investors concerned about cyberattacks, Billfodl’s indestructible offline paper wallet shards provide excellent crypto protection.
SafePal S1 Hardware Wallet – Best Starter Hardware Wallet
The SafePal S1 has quickly emerged as a leading budget hardware wallet under $50. It packs great security features including:
- PIN and password protection
- Seed phrase backups
- Bluetooth-free transactions
- Support for over 10,000 cryptocurrencies
- Compatibility with the SafePal app wallet
Together with the SafePal app for mobile, the S1 hardware wallet makes crypto management intuitive for first-time investors.
How to Keep Your Cryptocurrency Secure
- Enable multi-factor authentication (MFA) on wallets supporting it
- Never store passwords or recovery phrases digitally
- Split recovery phrase backups into multiple locations
- Always verify crypto wallet addresses to avoid mistakes
- Practice good security hygiene by changing passwords periodically
Who Provides Oversight for Crypto Wallets?
Cryptocurrency wallets are not currently regulated in the United States. However, Congressional proposals are examining oversight authority by the SEC and CFTC around crypto wallet providers and custody solutions.
Leading security certification bodies like Underwriter Laboratories (UL) have developed standards for assessing the reliability of crypto wallets as self-custody products. Reputable wallets undergo independent audits by firms like Bureau Veritas to verify their security design.
When choosing a crypto wallet, experts advise reviewing transparency reports, audit results and cybersecurity disclosures as indicators of a provider’s trustworthiness.
Conclusion
Protecting cryptocurrency holdings should be a top priority for every investor. Start by selecting reputable wallets offering robust security protocols, backup mechanisms and strong development standards around auditing and transparency. Consider cost, supported assets and accessibility based on your personal crypto usage and risk tolerance.
FAQs:
Which is the best cryptocurrency wallet?
The Ledger Nano X is the best overall cryptocurrency wallet because of its robust security features, backup support, extensive currency support, accessibility, and staking capabilities.
What is the safest crypto wallet right now?
The Trezor Model T hardware wallet is currently regarded as the safest cryptocurrency wallet available due to its open-source transparent code, advanced authentication protocols, recovery backups, and independent security audits.
Which crypto wallet is more secure?
In general, hardware wallets like Ledger and Trezor are considered more secure for crypto asset storage compared to hot, web-based, software and mobile wallets since they allow for complete offline, cold storage of crypto holdings away from online attacks. For maximum security, experts advise using a hardware wallet with an encrypted recovery phrase securely stored offline.
