Compare the best cryptocurrency wallets
By: Yasin Brown
Tags: Cobowallet, Bitcoin, Bitcoin Wallet, Poswallet, Cobo

Ledger Nano X Wallet

Hardware

BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, EXP, UBQ, VTC, VIA, NEO, XST, XLM & 1,000+ more

New — the ledger nano x comes plus added bluetooth functionality. Innumerable memory and a higher quality screen than its big brother.

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Atomic Wallet

Desktop Client

BTC, LTC, ETH, TRX, XMR, DGB, QTUM, XLM, ZEC, XRP, BCH, ETC, DASH, AWC, BTG, DOGE, TPAY, VET, VTHO, DCR, and 280+ more

Store, buy and sell 300+ cryptocurrencies using Atomic Wallet’s in-built atomic swap exchange.

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Uphold Digital Money Platform

Mobile

Web

BTC, LTC, ETH, BAT, BCH, DASH, BTG, XRP

Buy, send and convert more than 35 currencies at the touch of a button.

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Ledger Nano S Wallet

Hardware

BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, EXP, UBQ, VTC, VIA, NEO, XST, XLM & 1,000+ more

Securely store some of the world’s leading cryptocurrencies on the Ledger Nano S hardware wallet.

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TREZOR One Wallet

Hardware

BTC, BCH, BTG, LTC, DASH, DOGE, ETC, ETH, ERC20, NEM, NMC, ZEC, EXP, UBQ

TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.

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Abra Cryptocurrency App

Mobile

BTC, BCH, ETH, XRP, ETC, LTC, XLM, ADA, BTG, TRX, REP, BAT, DASH, DGB, DOGE, GNT, LSK, XMR, XEM, NEO, OMG, QTUM, SNT, STRAT, TRX, XVG, VTC, ZEC, ZRX

Buy and hold 28+ cryptocurrencies and more than 50 different fiat currencies in this all-in-one wallet and exchange app.

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CoolWallet S Wallet

Hardware

Mobile

BTC, ETC, XRP, LTC, BCH, ERC20 Tokens

A mobile hardware wallet for iPhone or Android designed to offer wireless bluetooth transactions and cold storage.

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Sugi Wallet

Hardware

Mobile

BTC, ETH, LTC, XRP, BCH, ERC20

A NFC cryptocurrency wallet card with a mobile app that supports major cryptos and select ERC20 tokens.

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TREZOR Model T Wallet

Hardware

BTC, BCH, BTG, LTC, DASH, DOGE, ETC, ETH, ERC20, NEM, NMC, ZEC, EXP, UBQ

The next generation of hardware wallet from TREZOR, the Model T includes a host of new features including a touchscreen and improved processing.

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Cobo Wallet

Android & iOS

Cobo is a leading producer of hardware and software blockchain products. As a company, we emphasize long-term security, reliability, and convenience. Our key products and services reflect that vision. Altogether, Cobo offers a secure mobile wallet (Cobo Wallet), the world’s first military-grade cold storage hardware wallet (Cobo Vault), and tailored custodial solutions for institutional investors (Cobo Custody). With support for over thirty different coins, 500 tokens, and an integrated DApp store along the way, we aim to be a one-stop shop for everything crypto.

Cobo’s flagship product, Cobo Wallet, is the first leading mobile wallet to offer Proof-of Stake (PoS) pooling services, a groundbreaking feature that allows users to generate benefits from their cryptocurrency holdings. To date, Cobo Wallet has registered more than 500,000 users globally and supports up to 30 cryptocurrencies and 500 tokens on main chains including Ethereum, EOS, and Tron.

iOS Download

Android Download

Official Website

Altcoin.io Wallet

Desktop Client

Web

BTC, ETH, REP, ANT, BAT, EOS, SALT, CVC, DNT, SNT, SUB, TRX, OMG, BTM, DENT, PPT, MKR, DGD, QASH, ETHOS & 10+ more

Along with being a decentralised cryptocurrency exchange, Altcoin.io offers users access to its beta release atomic swap wallet.

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What is a cryptocurrency wallet?

A cryptocurrency wallet is a software plan in that allows you to store.

Your wallet doesn’t genuinely hold any of your coins — instead.

A few cryptocurrencies offer their own official wallets. Although new products grant you to store multiple currencies inner the same wallet.

And you’re usually effortless to send coins in the thick of like wallet addresses only. You’ll the urge to send bitcoin to a bitcoin wallet address and ethereum to an ethereum wallet address.

How do cryptocurrency wallets work?

Instead of holding physical coins, a crypto wallet is electronic and includes a public and private key.

Public key. Here is a long sequence of letters and numbers so forms the wallet address. By previously mentioned. People can send property to your wallet. It’s similar to a bank account number in so it’s worn to send salary to an account only.

Private key. Previously mentioned is not new to access the funds stored in the wallet. For the indicated. People can force the funds tied to so that wallet’s address. You’ll obligation to place your private key undercover and secure. And that power you don’t have full management ancient history your coins.

As well as storing your public and private skeleton. Crypto wallets interface alongside the blockchains of various currencies so in order that you can check your balance and send and receive funds.

How wallets and blockchains interact

And therefore and tracks your crypto balance. By then the chain to mod. A wallet can figure out how umpteen coins you have.

Below the indicated transaction is verified and added to the blockchain. The ledger records in order that the amount of bitcoin at alice’s wallet address has decreased by 0. 001 and in that the amount of bitcoin at bob’s wallet address has increased by 0.001 BTC.

The amounts sent and acquired and the public wallet addresses are all public information.

Types of cryptocurrency wallets

Now that you know how crypto wallets work, let’s look at the five types of wallets available.

Desktop

Easy to use

Secure

Plenty of choices

Free to download

Risk of computer viruses and malware

Inconvenient to manage your crypto on the go

The most common type of wallet out with it. Desktop wallets are downloaded and installed on your brain. Although a few are limited to a particular operating scheme. Countless cryptocurrencies offer a desktop wallet specifically designed for its coin.

Desktop wallets provide a relatively towering level of armor. Since they’re only accessible against the machine on whatever they’re installed. The biggest disadvantage is in order that they likewise rely on you to control your brain secure and free of malware. A strong firewall and a common-sense approach to compact are required to cache your coins safe.

Most desktop wallets provide you beside a long string of wrangle to install. Established as your recovery seed or edict. The above-mentioned contention map along your private key. So you’ll obligation to store them somewhere safe in case your data processor dies or you obligation to format the operating theory and reinstall your desktop wallet.

Popular desktop wallets: Electrum , Exodus , Copay

Mobile

Easy to use

Convenient

Many options

Free to download

Losing your phone could cause problems

Risk of hacking

Mobile wallets feature multitudinous of the same advantages and disadvantages as desktop wallets. Amidst your private key stored on your device.

Mobile wallets have the benefit of scanning new wallet addresses for faster transactions. They besides generate it simpler to access your coins on the go to generate applying cryptocurrency part of your everyday life.

There’s a risk so anyone who can access your device might be good to access your funds. Choosing an app in order that allows you to back up your wallet alongside a 12- or 24-word passphrase is a good idea.

Popular mobile wallets: Cobo, Jaxx , Coinomi , Edge

Web

Easy to use

Convenient

Quick access from any computer

Usually free to use

Security risks

Online wallets are most often provided by exchanges, though they’re sometimes offered by third parties. Connected to the Internet, they’re generally easiest to set up and use. Most only require an email address and a password to create an account, and web wallets are usually designed to provide a simple and straightforward user experience.

The biggest advantages to online wallets are so you can’t lose them like a mobile wallet. And they’re accessible out of possession of any calculator among an internet connection.

So they’re online is again their biggest disadvantage. Because a bit platforms maintain wallets for thousands of users. They can mature hot purpose for hackers.

Still confirm whether the wallet you choose lets you carry complete government of your private passkey or whether they’re owned by the wallet provider.

Popular web wallets: blockchain.info , MyEtherWallet , Coinbase

Hardware

Most secure option

Offline storage

Easy to set up and use

Most expensive option

Inconvenient for quick access to your funds

Hardware wallets add someone else layer of bond by keeping your private key on a usb stick or specially designed piece of hardware. They grant the user to plug the usb stick toward any clone. So in the time transactions are carried out online. Your private key is stored offline and protected in opposition to the risk of hacking.

The device is protected by a pin and typically farther protective measures in home to help you recover your funds.

Popular hardware wallets: Ledger Nano S , TREZOR , KeepKey , Ledger X

Paper

Secure

Free from risk of malware or hackers

Free to set up

Can be damaged, lost or stolen

Confusing for beginners

Paper wallets take to the adjoining logical step the concept of entirely offline opener for hardware wallets: simply print out your public and private opener and use in that piece of paper as your wallet.

Paper wallets are along complex and can be confusing for beginners. They’re typically hand-me-down by advanced users who want a great level of preservation.

To transfer specie to a paper wallet. You use a software wallet to send resources to the public key printed on the sheet of paper. The indicated is printed as a qr code for easy scanning.

To transfer wealth out of possession of the paper wallet to character else. Early transfer salary to a software wallet by manually entering the private key toward the software. And suddenly transfer salary against the software wallet to the recipient as usual.

Popular paper wallets: Bitaddress.org, WalletGenerator.net

Hot wallets vs. cold wallets

As you delving and compare wallets. You’ll fair come crosswise the terms “hot wallet” and “cold wallet” or the concept of “cold storage”.

What does temperature have to do with crypto storage?

Hot. A wallet is hot much as it’s connected to the internet. Nothingness on the internet is 100% secure. So funds kept in a hot wallet are always at a slight risk of theft or loss taken away software bugs or hackers.

Cold. A wallet is cold much as it’s safely offline and can’t be deliberately or accidentally compromised at an end the internet.

Holding on an exchange vs. in a wallet

It’s possible to store your cryptocurrency in the wallet attached to the exchange you purchased it in distinction to. Aforementioned quick. Convenient solution afford fast access to your crypto whenever you weakness it.

But it’s not recommended for a couple of reasons:

You don’t determination the private key to your exchange wallet. In order that effectively medium in order that you don’t fully own your cryptocurrency.

You’ll find frequent well-publicized incidences of exchange customers crumbling victim to hackers.

By previously mentioned in mind. The safest solution is moving your coins toward a secure wallet so lets you retain discipline of your private key.

How to choose a cryptocurrency wallet

Consider your needs and compare wallets based on key factors in order that include:.

The type of wallet you want. Aforementioned factor comes down to personal preference. If bond is your no. But if you want to full tilt and conveniently access your coins.

Ease of use. In the time crypto novices might focus on finding a wallet that’s simple to set up and use.

Security features. Find out what shield features the wallet includes. Alike as two-factor authentication and multisig functionality. Desire your private key be stored online or offline? has the wallet ever suffered freedom breaches?.

Other features. Does your wallet include the ability to exchange among currencies in your wallet or provide easy access to live fiat exchange rates or auxiliary market information.

Supported cryptocurrencies. Are you read for a wallet so that stores conscientious one crypto. Or are you in the market for a multicurrency wallet? manufacture sure the wallet you choose is compatible along the cryptocurrencies you use to store. And commemorate so any coins and tokens can only be held in an official wallet.

The team behind the wallet. See what you can find backward how long the company’s been in business.

Costs. Whilst most crypto wallets are free. Choosing a hardware wallet process parting by part of cash. Consider the upfront price and shipping costs while making your choice. Any wallets again charge a fee for every transaction you manufacture.

Reputation. What level of community trust does the wallet have? check out independent online reviews to gauge how further users rate the wallet and whether they’d endorse it.