In our guide today we’re going to see the best crypto wallet of 2023 for cryptocurrency and bitcoin enthusiasts. Since its emergence in 2009, cryptocurrency has been the most widely used form of new-generation currency that has proven excellent in matters of soft investment, of course leaving out these other forms of soft currency.
So many people have ever since j vested in cryptocurrency and to some extent, it has been successful. Why to some extent? That’s where our big question comes in, is there anything to worry about? Let’s find out. Now, what is the best cryptocurrency wallet?
Which is the Best Crypto Wallet Currently?
Definitely, we got something to worry about and in this case, let’s just talk about the security of our crypto investments. A Bitcoin, for example, costs up to tens of millions of dollars. How sure are we that those many millions are safe in the form of cryptocurrency if we are at all not sure about how secure the wallet we are using or we intend to use is? That’s the major issue.
How do we know we are safely investing in crypto? It’s then definitely important to think about which of these wallets is the best not in terms of security alone but in all aspects of the broad sense of investment.
We, therefore, find it of good use to briefly review some of the available cryptocurrency wallets and see how well they work as we shorten the considerations for any of us who is at all interested in investing in cryptocurrency.
Types of Crypto Wallets
- Hot Cryptocurrency Wallets
- Cold Cryptocurrency Wallets
Hot Crypto Wallets
Hot crypto wallets can be used and accessed by the trader via their computer or mobile to manage and trade their cryptocurrencies online. Some of these digital wallets can even be accessed using a certain browser where public and private keys are stored, thus their high level of convenience. They are however known to have a security limitation due to their cyber-attack vulnerability.
Cold Crypto Wallets
Cold wallets can be used to store the user’s digital keys on an offline page. This hardware is built and optimized to conquer insecurities from hackers since they’re usually hard-to-crack software. The USB cold wallet requires the user to have the digital keys stored somewhere to avoid losing access to their digital assets. Therefore, you have to save these keys somewhere to make sure your security system is intact and easily accessible.
Some outstanding cryptocurrency wallets currently
There are many forms of cryptocurrency and each of them has its own compatibility and suited use. Let’s look into some of the major wallets but in different segments.
15 Best Crypto Wallets of 2022
- Exodus
- Coinbase
- Electrum
- Mycelium
- Ledger Nano X
- Trezor Model
- Ledger Nano S
- Metamask
- Trust Wallet
- Ambire
- BitGo
- StakedWallet.io
- Coinomi
- Xapo
- SimpleHold
Exodus Crypto Bitcoin Wallet
Pros
- Wide range of Cryptocurrencies
- Has a Built-in Exchange
- Good Customer service
Cons
- Closed-source software
Exodus Overview
This is one of the most widely used forms of cryptocurrency is Bitcoin. Since it is the most outstanding form, people tend to think about it whenever there’s mention of anything to do with cryptocurrency.
Now, one of the best Bitcoin wallets in the world is the Exodus. It’s the best for first-time users and beginners since it is customized for easy registration and access. It is free and quite safe. Like any other, it has one major popular feature, which is its ability to work with a number of changing cryptocurrency forms.
It has a very simple user interface equipped with great compatibility with trezor and of course not forgetting the great support interface which is important for first-time users. It is a good wallet because of its simplicity and ability at the same time. It is a hot wallet type and is well compatible with both mobile and desktop. One feature of the best cryptocurrency wallet being compatibility.
Coinbase Crypto Wallet
Pros
- Charges only network fee
- Supports more than 500 assets
- Supports storage of NFTs
- Enables Web3 App accessibility using dAPP browser
Cons
- Not an Open-source
- Poor Customer support history
Coinbase Overview
The Coinbase wallet is one of the mostly-used, acknowledged, and high-security crypto wallets worldwide. This makes it the most suitable for beginner traders with meager or no experience at all seeking the best Crypto wallets for cryptocurrency trade in 2022.
This Crypto and Bitcoin wallet is compatible with a majority of superior and popular bank accounts in the world. The Coinbase wallet is also known for its friendly user interface and a comprehendible 3-tab layout with simple user functions. The Coinbase crypto wallet can not only store digital tokens and NFTs but also support 500+ cryptocurrencies in the blockchain market.
A user can use the Coinbase wallet without having to sign up with the Coinbase crypto exchange protocol. The wallet is considered safe and thus assures security for your stored cryptocurrencies.
Trezor Hardware Crypto Wallet
The Trezor Model is amongst the most recognized hardware Cryptocurrency wallets in the world. Both Trezor models are multi-asset wallets that have exceptional security features thus becoming many traders’ favorite wallets.
This crypto and Bitcoin wallet is suitable for Exodus users since it’s built and optimized in alliance with the Trezor wallet models.
Electrum Crypto Wallet
Pros
- Simple to set up
- Transaction fees are customizable
- Exclusive security than other Hot wallets
- No Server Downtime
Cons
- Only adaptable to Bitcoin
- Lacks Chat, e-mail, and phone customer service
- Its interface and setup are not suitable for beginners
Electrum Overview
The Electrum is an open-source Crypto wallet that is popular for its exclusive customization features, as well as its considerable security system. The wallet is also amongst the first wallets in the crypto market since it’s still one of the few platforms exclusively compatible and suitable for Bitcoin (BTC) exchange.
This Crypto wallet is widely used in the blockchain market due to its outstanding security features and customizable transaction fees. Moreover, the wallet is known to use Light clients who tend to use less space during the transaction, unlike traditional-wallet clients. The Electrum uses an SPV (Simple Payment Verification) which downloads only specific blockchain parts thus speeding up the transactions running under its unmatched security system.
Mycelium Bitcoin wallet
Pros
- Transaction fees are customizable
- Hardware wallets compatibility
- Open source software
Cons
- Compatible with mobile only
- Seemingly confusing for beginners
Mycelium Overview
This is another hot wallet type with its greatest compatibility on mobile. It is not that difficult to use and it has been proven safe. To add on that it is a free purchase wallet that only needs registration and the investment follows as appropriate. Talk about the wallet with the easiest customizable transaction fee and a widely interactive user interface. Another big feature we ought to note is that the interactive user package allows us the opportunity to decide how long we are going to wait for a transaction to be completed. It is quite compatible with other forms of crypto but the major compatibility lies in its ability to safely accommodate Bitcoin.
Ledger Nano S Wallet
Talking of crypto beyond Bitcoin crypto wallets, there are many other forms of cryptocurrency that people tend to consider apart from crypto.
It is important that we check into them and see the features that make them better than bitcoin wallets at times. Ledger Nano S is one of the cryptocurrency hardware available in the world.
Its use has been proven to be of great importance since it can accommodate Bitcoin, trezor, Ethereum, and their tokens plus 30 other forms of crypto available. The best thing about it is that it is as small as a USB flash drive, foldable type which means it is hassle-free and can be used almost everywhere.
Ledger Nano S has great compatibility when it comes to its use and the major forms of protection employed in others. Its use is relatively easy and simple considering its interactive user interface.
Ledger Nano X Hardware Wallet
Pros
- Supports vast digital assets
- Special security hardware to encrypt private keys
- Bluetooth feature for Ledger X Live exchanges
- 8-hour in-built battery
Cons
- Expensive unlike Cold wallets
- Privacy concerns due to Bluetooth usage
- Lacks Touch-screen feature
Ledger Nano X Overview
This multi-asset hardware cryptocurrency wallet is suitable for offline exchange transactions, has top-notch security measures, and perfectly favors mobile users. This wallet supports more than 1800 crypto coins.
Talk about the most advanced form of technology in cryptocurrency hardware often known as the rolls Royce of cryptocurrency which has Bluetooth connectivity and looks so much like an Apple iPad. It is far much better than any other known form of crypto hardware. The Bluetooth feature is usually activated occasionally during live crypto exchanges on IOS and Android devices.
It has a large enough touch screen which helps you do all the settings, especially on the security features. It is compatible with all forms of cryptocurrency and its user interface is as simple as that of mobile. It might be quite costly but it is the safest compared to others of its kind. It is very light in weight and works with over 20 types of cryptocurrencies. Its efficiency and workability are worth its cost.
Compare Best Bitcoin and Crypto Wallets
| Crypto Wallet | Type | Cryptocurrency Supported | Cost | Built-In Exchange | Compatible Hardware |
| Exodus (Best for Beginners) | HOT | 150+ | FREE | YES | YES |
| Coinbase (Best for Low Costs) | HOT | 500+ | 25 USD | YES | YES |
| Electrum (Best for Advanced Users) | HOT | 1 | FREE | NO | YES |
| Mycelium (Best for Mobile Users) | HOT | 1 | FREE | YES | YES |
| Ledger Nano X (Best Hardware Wallet) | COLD | 1800+ | 119 USD | YES | YES |
| Trezor Model T (Best for Security) | COLD | 1200+ | 195 USD | YES | YES |
| Ledger Nano S (Best Bang for your Buck) | COLD | 107+ | 59 USD | YES | YES |
Which is the best Crypto Wallet?
One thing we ought to understand is that these wallets vary so much and there are many kinds arising by the side with a greatly doubted credibility, meaning they might be less safe compared to others. To make sure we are safe without crypto investments, we should see that we go through the information provided about the types we want to go for.
There are many but few are worth investing in. More especially, we have talked about the security of our funds. The ones reviewed above are of good quality but they’re not the only credible crypto wallets we can invest in.
We only highlight some of the features that make them outstanding in order to make sure that we have the features in mind as we think of investing in cryptocurrency. However, there are many others available with the same features and it is good to consider them.
Top Cryptocurrency Wallets
The most important thing is to know what we’re doing and find out what these features that make them outstanding are. It’s easier to find the best crypto wallet if you have a few features in mind.
