Best crypto wallets in 2021
As more people buy bitcoin and other cryptocurrencies, the search for the best crypto wallets intensifies. You’ll find all sorts of crypto and blockchain news on the internet. As a result, more folks buy cryptos, hoping to get substantial long-term returns. No matter what coins they bought, they should keep them as secure as possible.
If you’re a newbie crypto investor, your coins are probably in a crypto exchange account. These aren’t as secure as hardware wallets, though. We’ll explain the features that make them better than your online wallet. Then, we’ll show you some of the best cryptocurrency wallets to keep your hard-earned investments friendly and safe.
Bitcoin transactions and other crypto exchanges may seem more secure than other digital options. Still, hackers could get into your account and take your precious cryptocurrencies. Your investments deserve nothing less! Keep them safe by placing them in the best crypto wallets available.
Why do you need a Bitcoin wallet?
Now, people are converting bank account funds into these internet bucks. Then, they just let them sit on online platforms, waiting for prices to “go to the Moon.”
If you’re serious about your investments, you need to get one of the best crypto wallets. You have two types of cryptocurrency wallets: a hot wallet and a cold wallet. The former can be divided into two other categories.
Bitcoin is the most popular cryptocurrency. You may hear others call them bitcoin wallets. It’s no surprise that people will mostly place bitcoin in their crypto wallets.
A crypto wallet can store more than just bitcoin, though. It can save altcoins, too, even ERC-20 tokens. These are coins that are similar to Ethereum.
No matter which you pick, a cryptocurrency wallet is a good personal finance move. After all, your investments deserve tough security measures. Let’s explore your choices below.
Your first crypto/bitcoin wallet can be digital. You could get them from your crypto exchange or a free app. They’re often free, so it’s a good choice if you’ve just started investing.
If you want to invest in cryptocurrency, you need to create a crypto exchange account. Once you do, it will have an online or web wallet to store your cryptocurrency.
You need to be connected to the internet to access it. Once you are, you may check your wallet from your Firefox or Google Chrome browser. It’s available on Windows, iOS, and even Linux.
What’s more, this type of crypto wallet often comes with a mobile app. If you’re connected to the internet, it lets you see your coins. The app also provides other features from your crypto exchange.
There are web wallets that don’t come from cryptocurrency exchanges. For example, MetaMask isn’t from any exchange platform. Yet, it has hot wallets for browsers and mobile wallets for smartphones.
It often trades security for mobility, though. It’s on the internet so that hackers may get access. Worse, you’ll probably leave your login details on your phone or browser.
If you’re not careful, someone might learn your logins. Also, others connected to the internet might access your cryptocurrency wallets remotely. That’s why they don’t make the best bitcoin wallets.
They’re good if you don’t have a lot of digital currency. Once you get used to investing, you might want to switch to the best crypto wallets. Specifically, you need a hardware wallet.
It lets you see your coins even if it’s not connected to the internet. This means hardware wallets protect your coins wherever you go. Of course, don’t settle for anything less than the best hardware wallet!
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Want to keep your crypto assets nice and private? Try cold storage from hardware wallets. They’re as small as a USB drive stick. Yet, they protect your coins while you’re on the go.
As we said, your cryptocurrency exchange can give you a hot wallet. So can other websites. Unfortunately, they need to be connected to the internet. This leaves them open to hacking.
What sets them apart from software wallets and desktop wallets? Cold wallets won’t connect to the internet unless you plug them in. Hackers can’t get to your cryptocurrency wallet while it’s in your pocket!
What’s more, they store your private keys offline. This means others won’t exchange your coins that easily! Some could even place two-factor authentication for your coins.
Hot wallets are free. However, buying hard bitcoin wallets means getting peace of mind. A hardware wallet lets you rest easy, knowing your coins are safe!
Again, your investments deserve the best cryptocurrency wallet. Fortunately, amazing companies offer the best cold wallets for investors. Here are our recommendations for the best crypto wallets:
Ledger Nano X
The Ledger Nano X could serve as the private key for your cryptocurrencies. Just like we said, it looks like a USB thumb drive! This is one of the best crypto wallets on the market.
It has two buttons that allow you to confirm transactions with ease. Also, it allows you to set two-factor authentication. The Nano X even has a user interface so you can see how your cryptos are doing.
What’s more, you may download the Ledger Live app. It lets you control your Nano X via smartphone. It could manage up to 27 coins, including bitcoin and crypto of various types.
Sleek and compact, the Ledger Nano X is a must for serious crypto investors. It’s truly one of the best cryptocurrency wallets right now! Carry it wherever so you could buy and sell whenever.
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Ledger Nano S
The Nano X has a smaller and cheaper cousin if you’re starting. Still, the Ledger Nano S earns a spot as one of the best crypto wallets.
It has most of its big bro’s features. It supports various coins and tokens, particularly those compatible with ERC-20. Nano S also has a screen and two buttons for easy crypto control.
All Ledger wallets are made of stainless steel. Whether you get the Nano X or Nano S. No matter your pick, your cold wallet will be more durable and secure than others on the market.
The Nano X has a more comprehensive display and a few more features. If you want a smaller wallet, the Ledger Nano S might be for you.
Trezor Model T
Who could give us the best crypto wallets? The guys who made the first one, of course! The Trezor Model T is the latest from the folks at SatoshiLabs. You can expect it’s an excellent backup for long-term investors. Nevertheless, it’s an excellent backup for long-term investors.
The Czech-based firm released the first bitcoin hardware wallet, so they have years of experience. Also, Ledger hardware wallets use open-source codes stronger than private ones.
The Model T supports over 1,000 coins and uses a 4-digit pin code to confirm transactions. Like the Ledger hardware wallets, it has a user interface.
The Model T cryptocurrency wallet is mighty, inside and out! It’s made of metal and weighs around 22 grams. What’s more, you could connect your Trezor hardware wallet with Exodus for better security.
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Trezor Model One
Just like the Ledger wallets, the Model T has a smaller sibling. The Trezor Model One is the more affordable Trezor option. It has fewer features, but it lets beginners spend less on a wallet.
Similar to the Ledger Nano S, the Model One has two buttons and a user display. Trezor doesn’t have a smartphone app, but you could connect it to your mobile device.
A warning to all the Android users owning Trezor devices.
This app is a scam and has no relation to SatoshiLabs and Trezor. We've already reported it to the Google team.
Always confirm any action on your device and never type seed words until your Trezor asks you to. pic.twitter.com/xocUtMz6LR
— Trezor (@Trezor) December 2, 2020
Some might not like the fewer features of the Model One. If you’re looking for a simple and affordable way to secure your coins, it’s one of the best crypto wallets.
A hardware wallet can be quite expensive. Still, you deserve to secure your cryptocurrency portfolio with a high level of security. A Trezor Model One could be your starter for this type of wallet.
What’s more, it could be as sturdy as the Ledger wallets. The Trezor One Metallic will cost far more. Yet, this hardware wallet truly is hard. After all, it’s made of high-quality aluminum.
Here’s another stylish way to store your crypto assets. KeepKey looks like a sleek metallic card with a wide user screen. It’s under one of the most popular trading platforms, ShapeShift.
It’s a bit chunkier than the previous hardware wallets. The comprehensive interface shows you what it’s doing with more extensive text. This could help you monitor transactions much more accessible.
As one of the best hardware wallets, it keeps your cryptos safe behind layers of security. You need to press KeepKey’s hard button to confirm transactions. This keeps them safe and secure.
You could add a PIN code and a passphrase to make it even more secure. Even better, it provides these excellent security features at a lower price.
This one challenges the best crypto wallets we’ve mentioned. The CoolWallet S has unique features that set it apart from Trezor, Ledger, and Keepkey. It doesn’t just provide crypto security!
Remember how the other three were becoming as slim as possible? Well, the CoolWallet is almost as thin and small as a credit card! This makes your cold storage secure AND sleek!
What’s more, it uses Bluetooth and contains a rechargeable battery. It also has an exchange confirmation button for added security. You may also get the CoolBitX Crypto app for your mobile device.
Like a credit card, you could easily slip it into your regular wallet. Super slim and super functional, the CoolWallet S is one of the best crypto wallets right now.
How to choose your hardware wallet
It’s hard to choose the best bitcoin wallet, especially if you’re a newbie. You might be having second thoughts about having a crypto wallet at all! Your cold storage option will depend on several factors.
One is your budget. You may have extra cash for a cold wallet. If not, you might stick with a hot wallet in the meantime. Of course, you could get one of the cheap cold wallets, such as the Trezor Model One.
If you have spare cash, you should get the best bitcoin wallet. That crypto wallet should have certain features. Here are some things to consider when getting a hardware wallet:
As a beginner, you may get cold wallets like the Trezor Model One and the Ledger Nano S. You may not need fancy features if you don’t have that many cryptos. A software wallet might be fine.
Once you’ve gotten the hang of things, you may upgrade to the best crypto wallets. You may grab the beefier Trezor Model T or the Ledger Nano X. These have mobile wallets too!
Advanced users might want even more security for their digital assets. For example, they could get multi-signature wallets that use more than one private key.
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Most of the best crypto wallets on our list have limits. They could only store a set amount of coins and tokens. For example, they might only store well-known coins like bitcoin, ethereum, and dogecoin.
Some wallets allow unlimited transactions. This is usual for most crypto wallets, whether it’s hardware or software. Regardless, you should know a hardware wallet’s limits before buying.
Make sure to read the website of your chosen crypto wallet. You could learn more about its features and price. What’s more, you might find limited editions like the CoolWallet MEW 2021.
Even the best crypto wallet could run into problems. Make sure yours has a support team you could call whenever you need. Otherwise, your crypto account and its linked bank account could be in trouble!
Perhaps the crypto wallet doesn’t work the way you intended. Maybe you’re confused about using it. Customer support could provide the steps to fixing your device.
Similar to most businesses, crypto wallet brands have dedicated websites. You may type your concerns on their chatbot or send them an email. Check the cold wallet website for more information.
Back-Up Your Crypto Wallet with Paper Wallets
You may print your private key and its QR code on a piece of paper. These are also known as paper wallets. Surprisingly, it could be as secure as the best crypto wallets!
After all, sheets of paper can’t connect to the internet. Hackers have no way of online access. Place it under lock and key, and you just stored your cryptos in the safest way possible.
Still, it has its flaws. You might spill coffee and smudge your paper wallets. If someone learns about your crypto stash, they might crack it open.
If you trade frequently, paper wallets might not be for you. Imagine how many sheets you’ll print out! Nevertheless, it’s an excellent backup for long-term investors.
Whether you pick one of the desktop wallets, hot wallets, hardware crypto wallets, or others, you need to take care of it. The best crypto wallet can’t provide security otherwise.
If you’re serious about cryptos, you need one of the best crypto wallets. This means getting the best hardware wallet. These could keep your cryptos in a sleek and stylish package.
Other crypto wallets aren’t on our list. The coins in your crypto portfolio may recommend hardware wallets. For example, bitcoin’s website recommends the best bitcoin wallets.
No matter what crypto wallet you get, take care of it. Paper wallets get ruined like regular paper. If you lose your wallet or password, you might not get your cryptos back!
Learn more about crypto wallets
What is the best crypto wallet?
Choose a hardware wallet. They’re better than the free software wallets online. They keep your private keys safe from online attacks. Also, nobody would be able to buy and sell your coins without the hardware wallet.
What is the best and cheapest bitcoin wallet?
The cheapest bitcoin wallet is typically one of the free software wallets on the internet. If you want the best bitcoin wallet, you need to spend more. Instead of a software wallet, get a hard bitcoin wallet.
Is there a wallet that holds all cryptocurrency?
Most software wallets and hardware crypto wallets can hold bitcoin, ethereum, and other well-known coins. Since most cryptocurrency is open-source, we will get cryptos that current wallets can’t store.
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Disclaimer: This article is not the official guide to the crypto wallet process but is based on the author’s research or own personal experience.