Best Hot Wallets of January 2024
- Coinbase Wallet – Best for Beginners
- MetaMask – Best for Ethereum
- TrustWallet – Best for Mobile
- Electrum – Best Desktop Bitcoin Wallet
- BlueWallet – Best Mobile Bitcoin Wallet
- Exodus – Best for Desktop
- Crypto.com – Best DeFi wallet
Best for Beginners: Coinbase Wallet
they are building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto.
they started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, they offer a trusted and easy-to-use platform for accessing the broader cryptoeconomy.
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
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
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.
Learn more by visit official website of Coinbase
Best for Ethereum: MetaMask
MetaMask is a global community of developers and designers dedicated to making the world a better place with blockchain technology.
Intuitive interface design on browser extension and app
Can be linked to NFT marketplaces
Supports thousands of dApps
Fees to buy Ether can be high
Cannot directly store Bitcoin
Why we chose it
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.
Learn more by visit official website of MetaMask
Best for Mobile: Trust Wallet
Trusted by over 70 million people, we’re on a mission to build a seamless Web3 hub and open ecosystem for everyone.
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
Owned by Binance, which has faced regulatory issues in the U.S.
Educational resources on coins and tokens are limited
Why we chose it
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.
Learn more by visit official website of Trust wallet
Best Desktop Bitcoin Wallet: Electrum
Electrum was created by Thomas Voegtlin in November 2011.
Since then, various developers have contributed to its source code.
Fast and easy to set up
Greater security than other hot wallets
Customizable transaction fees
Wallets don’t suffer downtime thanks to server configurations
Setup and interface not ideal for beginners
No customer support via chat, email or phone
Why we chose it
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 crypto wallets that only deals in Bitcoin, a currency that Electrum is uniquely outfitted to support.
The wallet hosts a variety of robust security features, including 2FA, transaction proof checking, and multi-signature wallet support. Moreover, users can adjust their fees depending on how long they’re willing to wait for a transaction to be completed: Pay more in fees, and your transaction will be executed faster.
One of the wallet’s greatest assets is that it uses a light client, which can be set up in a matter of minutes and takes up less space than traditional wallet clients on your computer. By using simple payment verification (SPV), the wallet only downloads parts of the blockchain, speeding up transactions without compromising security.
Learn more by visit official website of Electrum
Best Mobile Bitcoin Wallet: BlueWallet
The BlueWallet project born out of the ashes of the 2017 bull-run. With the frustration of not finding a wallet for our Bitcoin needs. Where we could have a Bitcoin only wallet and full control of the transactions. At the time, there wasn’t a single Bitcoin wallet available for iOS that was bitcoin-only, supported Segwit and where we could have fee control. So we decided to build it.
Modern design with an accessible user interface
Supports both on-chain and lightning transactions
Create or import multiple wallets
Multi-signature vaults for added security
No two-factor authentication
Advanced tools could use in-app tutorials
Why we chose it
Why we chose it: BlueWallet is our pick as the best Bitcoin wallet for mobile because of its feature-rich mobile app, simple user interface and integration with the Lightning Network.
BlueWallet is an excellent alternative for Bitcoin traders who can’t or don’t want to make sense of more complex software on their desktop computers. It’s similar to Electrum in that they are both Bitcoin wallets only, which means they can focus entirely on innovating and improving the Bitcoin experience on the platform.
The wallet’s interface is welcoming and easy to navigate for beginners, but the app also includes a number of additional features that more advanced users may appreciate. In addition to basic functionality like sending, receiving and storing BTC, BlueWallet allows users to send batch transactions and customize fees.
Another big advantage of BlueWallet is its integration with the Lighting Network, a layer two solution that makes peer-to-peer payments much faster than on Bitcoin’s layer one network. It helps to think of the Lightning Network as an expressway that sits on top of the regular Bitcoin blockchain.
Learn more by visit official website of BlueWallet
Best for Desktop: Exodus
Secure, Manage, and Swap cryptocurrency on desktop, mobile and hardware wallets.
Supports over 260 crypto assets
Compatible with Trezor One and Trezor T hardware wallets
Allows users to buy Bitcoin with Apple Pay
24/7 customer support
High transaction fees on the in-wallet crypto exchange
Lack of native 2-factor authentication may bother some users
No multi-signature support
Why we chose it
Why we chose it: Exodus is our pick as the best crypto wallet for desktops because of the speed of its transactions, ease of use, and the varied functionality of its client.
Initially a desktop-only wallet, Exodus now has apps for iOS and Android and is also compatible with Trezor wallets, a popular hardware wallet brand. Nonetheless, the desktop wallet application — available across Windows, Linux and Mac operating systems — is still the wallet’s core offering and is updated every two weeks.
One of Exodus Wallet’s main draws is the number of currencies it supports: more than 260 crypto and NFTs, a larger number than many other hot wallets. This includes established altcoins, such as Ether, Litecoin, XRP and Bitcoin Cash, as well as popular meme coins like Dogecoin and Shiba Inu.
In addition to its visual appeal and intuitive interface, the wallet also features a growing number of apps that diversify its functionality. These include apps for live charts, crypto staking and crypto deposits.
Learn more by visit official website of Exodus
Best DeFi Wallet: Crypto.com
Choose your preferred trading fee and confirmation speed
Over 250 coins, including BTC, ETH, CRO, ATOM, DOT and LTC
Earn interest on more than 25 cryptocurrencies
Funds are inaccessible if you lose your private key and recovery phrase
Built-in token swap has some geo-restrictions
Why we chose it
Why we chose it: Crypto.com is our pick for the best DeFi crypto wallet because of its variety of decentralized finance tools, excellent onboarding process and strong security framework.
The Crypto.com DeFi Wallet is an excellent choice for users starting their journey into decentralized finance. Defi wallets give users complete control over their digital assets and private keys. They also have features not available on regular, custodial wallets, including one-to-one crypto swaps and tools for users to earn passive income on the crypto they own.
As with other exchanges that feature both a custodial and non-custodial wallet, it’s important to make the distinction between the two. You can download the Crypto.com DeFi Wallet and use it for your day-to-day crypto activities without having to create an account on Crypto.com’s exchange platform.
Consumers should be aware that decentralized finance products and services carry significant risks and should be engaged prudently.
Learn more by visit official website of Crypto.com