7 Cryptocurrency Wallets to Store Your Crypto Securely

Are you struggling to find a reliable cryptocurrency wallet to keep your coins safe and private? Then your worries end here. 

We have tried and tested most of the cryptocurrency wallets available to the public and have narrowed the list to the 7 cryptocurrency wallets to store your crypto securely. You can use any of these according to your need. 

Let’s see what all of these cryptocurrency wallets offer to you. 

Also Read: Why Is the Crypto Market Down in May 2023?

Best Cryptocurrency Wallets for Crypto You in 2023

Nano Ledger – Best Overall Cryptocurrency Wallet

Ledger is a well-known brand in the crypto space, offering cryptocurrency wallets that are popular among crypto enthusiasts. Its products use Secure Element components to provide extra security. 

The Ledger Nano S and Nano S Plus are cryptocurrency wallets that support over 1,000 and 5,500 tokens and coins, respectively. The Nano S Plus has an improved display, greater storage capacity, and a USB-C cable port. 

Pros: 

• Can install 100 apps simultaneously 
• Sell and trade crypto through the Ledger Live app
• Compatible with over 50+ hardware wallets

Cons:

• It doesn’t offer an open-source custom operating system
• Limited customer service

Trezor Model T – Best Cryptocurrency Wallet 

Trezor, developed by Satoshi Labs, is a reliable hardware wallet offering excellent security measures to manage and trade your cryptocurrencies. Trezor Model T is considered safe against remote attacks and supports various currencies. 

Trezor Wallet T has a user-friendly interface and works well with other exchanges and hot storage wallets. The wallet offers offline backup, and a recovery seed option is also available for added security.

Pros:

• Convenient interface, including the touchscreen in Model T
• Supports over 1,00 coins
• Features encrypted cloud storage and U2F authentication

Cons:

• More expensive than other hardware wallets 
• Not supported on iOS devices

Coinbase Wallet – Best for Beginners 

If you’re a cryptocurrency user or trader looking for a beginner-friendly and secure wallet, Coinbase Wallet could be a good option. You can also store NFTs and other digital collections. 

The Coinbase Wallet is non-custodial, meaning the private key is stored in your device rather than in Coinbase’s servers. It ensures greater security and reduces the risk of cyber attacks. The wallet also seamlessly connects to Coinbase’s native exchange and major decentralised exchanges. 

Pros:

• User-friendly interface 
• Supports over 5,500 digital assets 
• Backed by a reputable cryptocurrency exchange 
• Best for beginners

Cons:

• Only available on mobile and tablet
• Some security issues like other wallets

MetaMask Wallet – Best Overall Mobile Wallet 

MetaMask is a popular digital wallet with over 30 million monthly active users, which can be downloaded as a browser plugin or mobile app. It supports the Ethereum network by default but can be easily configured to work with other blockchains, such as Binance Smart Chain, Avalanche, and Polygon. 

MetaMask allows you to store, send, and swap tokens, as well as interact with decentralised applications (dApps) and NFT marketplaces. The wallet’s open-source code and local encryption ensure maximum security. 

Pros:

• It offers an intuitive Chrome extension
• Supports 1000s of dApps
• Can link it to NFT marketplaces 

Cons:

• Cannot store Bitcoin directly 

Trust Wallet – Best for Mobile Traders 

Trust Wallet is a popular and secure mobile online crypto wallet with a clean user interface, built-in support for dApps and NFTs, and the largest number of supported assets on the list. 

Trust Wallet also has a built-in Web3 browser, allowing you to access dApps and blockchain games directly through the app. It is non-custodial, meaning it does not keep your private keys, and supports instant exchanges.

Pros:

• Can stake tokens to earn interest on over 12 tokens
• Simple and user-friendly interface
• Stores over 65 blockchains and 4.5 million tokens 

Cons:

• Limited information on coins and tokens 

Exodus – Best for Desktop 

Exodus is a popular desktop-first cryptocurrency wallet that also supports NFTs. It offers educational materials and explanatory videos to help you learn about specific cryptos. You can also trade and stake directly from your wallet with Exodus’ built-in exchange. 

The wallet is also available as a mobile app for iOS and Android. While it does not offer two-factor authentication, Exodus has customisable fees and runs on a light client to speed up transactions.

Pros:

• Supports over 260 cryptocurrencies
• Compatible with Trezor hardware wallets 
• 24/7 customer support

Cons:

• Lack of 2-factor authentication
• Higher transaction fees in-wallet exchange 

Crypto.com DeFi Wallet – Best DeFi Wallet 

For cryptocurrency users and traders looking for a DeFi wallet, Crypto.com’s DeFi Wallet is recommended. It offers a variety of decentralised finance tools, a secure onboarding process, and strong security features. 

You can earn passive income on your crypto assets and access other decentralised apps through the WalletConnect tool. The DeFi Wallet also offers various security measures, including biometric authentication and password encryption.

Pros:

• Over 250 coins, including Bitcoin and Ethereum
• Can earn interest on over 35 cryptocurrencies
• Send crypto at desired speed and fees

Cons:

• Built-in token swap has limitations

Frequently Asked Questions

Why Do You Need a Crypto Wallet?

Cryptocurrency is a string of codes available on the blockchain network, making it different from tucking it in your pockets. So to store these digital assets, we need secure digital wallets to keep your coins safe.

How Do Crypto Wallets Work?

Crypto wallets use a private key to make them safe. Also, there’s a public key, like the account numbers of your bank account, which people can see but cannot use to access your wallet. Ensure that your private key is safe because as the saying goes, “Not your keys, not your coins”. 

Which Type of Crypto Wallet Is Best for You?

Depending on your need, choose any of the seven wallets mentioned above. If you need a wallet to keep your coins and trade with them more frequently, go for a quicker option like the mobile or desktop apps. But if you want to tuck them away offline for a few months or even years, a hardware wallet would be a better option.