$61,327.54
-4.44%
$3,318.55
-4.72%
$69.47
-6.65%
$22.48
-7.71%
$161.29
-1.66%
$0.00
+0.01%
$22.63
-2.62%
$0.12
-4.3%
$19.53
-2.41%
$0.00
-6.63%

10 Best Crypto Wallets of February 2024


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Money’s Main Takeaways:

  • Traders who are serious about crypto should opt for a non-custodial crypto wallet, which means you will have direct access to your crypto — and ownership thereof.
  • One type of wallet is not inherently better than the other: hot wallets are great for quick access to your crypto, while cold wallets provide the best security for long term storage.
  • The best hot wallets are highly secure and easy to use on mobile and desktop devices.
  • The best cold wallets boast a convenient size and design and are competitively priced.

Why Trust Us?

Why you should trust us: Reviews at Money are based on our collective knowledge of personal finance and company data, chiefly from primary sources. To create these reviews, we conducted an analysis of 25 hardware, software and web crypto wallets that took into account 20 distinct criteria, some of which varied based on the type of wallet. We spent around 72 hours researching and comparing crypto wallets, reaching out to experts and writing a guide on the topic to provide a full picture to our readers.

Crypto wallets are an essential tool for buying, trading and selling cryptocurrencies. Traders need them to store crypto securely, as well as to protect and validate transaction information. Be it hardware or software, also called hot and cold crypto storage, custom crypto wallets offer traders dedicated solutions compared to those from crypto exchanges.

Read on to learn about the different types of cryptocurrency wallets, how they work, and which one you should pick.

*Some people searching for crypto wallets are looking for a crypto exchange, which is why we’ve included Public.com in this comparison table. If you’re more interested in learning where to buy and sell cryptocurrency, as well as, pros and cons of centralized vs decentralized exchanges, you might consider reading our piece on the Best Crypto Exchanges.

Our Top Picks for the Best Crypto Wallets of February 2024

Best Hot Wallets of February 2024

Best Cold Wallets of February 2024

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Best Crypto Hot Wallet Reviews

Pros

  • User-friendly interface that is easy to navigate
  • Supports more than 100,000 digital assets
  • Multi-signature and two-factor authentication support
  • Backed by a reputable trading platform that is able to recoup lost or stolen assets

Cons

  • Similar security issues and weak points as other hot storage alternatives
  • Only available on mobile and tablet devices (except for Chrome extension)

Why we chose it: Coinbase Wallet is our pick as the best hot wallet for beginners because it’s an intuitive and highly secure wallet backed by a well-known exchange.

Coinbase Wallet’s user interface was designed to be easy to navigate, with a simple three-tab layout and clearly identifiable functions. The app connects to most major bank accounts and can store popular coins, such as Bitcoin, Litecoin, Dogecoin and BNB, as well as all ERC-20 tokens and tokens on EVM-compatible blockchains.

It’s important to make a distinction between the Coinbase exchange and the Coinbase wallet. The Coinbase exchange is one of the oldest and most well-known crypto trading platforms in the US. Holding your digital assets on the exchange’s web wallet makes it easier to trade, but leaves your coins exposed to more dangerous cybersecurity threats.

The Coinbase wallet may be used without opening an account with the exchange and it’s non-custodial, meaning the private key is stored in your device — not in Coinbase’s servers. This means you don’t need to worry about your currencies being locked for any reason or exposed to a cyberattack on the website.

Other highlights:

  • Uses the Secure Enclave chip available in Android, iOS, iPad and Mac devices to provide biometric authentication (e.g., FaceID, TouchID)
  • Provides access to decentralized exchanges in-app, which can convert tokens without any intermediaries
  • Offers optional cloud backups to protect your digital keys

Learn more by reading our full Coinbase wallet review.

Pros

  • Intuitive interface design on browser extension and app
  • Can be linked to NFT marketplaces
  • Supports thousands of dApps

Cons

  • Fees to buy Ether can be high
  • Cannot directly store Bitcoin

Why we chose it: MetaMask is our pick as the best crypto wallet for Ethereum because its user-friendly interface provides quick and easy access to thousands of tokens and decentralized apps (dApps) within the Ethereum network.

MetaMask is one of the most widely used Ethereum wallets, with over 30 million monthly active users. This may be due to its ease of use and accessibility: The wallet has an attractive and straightforward design for beginner investors looking to store and send Ethereum-compatible cryptocurrencies and interact with dApps.

MetaMask is also notable for its compatibility with other blockchain solutions. Users can add almost any blockchain network to the app, and the wallet fully supports popular Web3 networks, including Polygon, BNB Chain and Avalanche. Users can also use the wallet to access popular NFT marketplaces like OpenSea, and swap a variety of collectibles.

Anyone using Google Chrome, Microsoft Edge, Mozilla Firefox or Brave browsers can download the wallet as an extension. You can also download the MetaMask app on your mobile Android or Apple devices.

Other highlights:

  • Built on open source code, which allows developers and security experts to review the software to make sure it’s secure
  • Account information is encrypted and stored locally — no information ever touches the MetaMask servers — which means users have full control of their private keys
  • Quickly swap between layer one and layer two Web3 solutions

Learn more by reading our full MetaMask review.

Pros

  • Supports a vast range of coins and tokens
  • Earn interest on one of 12 different cryptos
  • Simple and easy-to-use interface
  • Built-in Web3 browser

Cons

  • Owned by Binance, which has faced regulatory issues in the U.S.
  • Educational resources on coins and tokens are limited

Why we chose it: Trust Wallet is our pick as the best crypto wallet for mobile because it features a clean, scannable app interface, built-in support for dApps and NFTs, and the largest number of supported assets on our list.

Trust Wallet is a popular mobile online crypto wallet and the official mobile app of Binance, one of the leading cryptocurrency exchanges in the world. Despite its links to Binance, the wallet is non-custodial, which means it does not keep your private keys, and the user is responsible for safeguarding them.

One of the wallet’s greatest advantages is that it supports over 70 blockchains. This is how it’s able to store such a wide variety of digital assets — over 4.5 million coins and tokens, the largest number on our list.

Trust Wallet is also a great mobile option for NFT and decentralized app enthusiasts. The wallet has a built-in Web3 browser, allowing users to access dApps and blockchain games directly through the app. This feature makes buying NFTs easy, as users can look, purchase and store tokens using the incorporated decentralized exchange, all without leaving the app.

Other highlights:

  • Integration with Binance DEX lets users buy large numbers of tokens with a debit or credit card
  • Among the highest-rated cryptocurrency mobile wallets on both Apple and Google marketplaces

Learn more by reading our full Trust Wallet review.

Pros

  • Fast and easy to set up
  • Greater security than other hot wallets
  • Customizable transaction fees
  • Wallets don’t suffer downtime thanks to server configurations

Cons

  • Setup and interface not ideal for beginners
  • No customer support via chat, email or phone

Why we chose it: Electrum is our pick as the best Bitcoin wallet because of its extensive security features and high degree of customizability.

Founded in 2011, Electrum is one of the oldest and most well-known crypto wallets today. It’s also one of the few remaining…



Read More:10 Best Crypto Wallets of February 2024