Crypto wallets are devices or online services that store private keys, allowing digital asset owners to protect and manage their holdings. They can either be hot or cold– the first is online-based, while the latter is a hardware device that keeps your crypto-related data offline.
Additionally, not all crypto wallets are the same. In fact, they differ in many ways, including the amount of storage they offer and the variety of crypto they support.
Now, suppose you’re unfamiliar with the fundamental differences between hot and cold wallets or generally want to cover the basics before diving into this topic. In that case, I suggest you learn about crypto wallets here.
But if you’re already in crypto waters, let’s get straight to the point. Here are our top 10 crypto wallets for 2023.
Best Hot Crypto Wallets
- Best for versatile investors: Coinbase Wallet
- Best for staking: Crypto.com Defi Wallet
- Best security: Exodus/ Trust
- Best for NFTs and Altcoins: Coinomi Wallet
- Best for beginners: Trust
Best overall: Trust, Exodus
Coinbase Wallet
Source: Coinbase
Pros:
- Offers dApp access
- Supports hundreds of thousands of digital assets
- Self-custody
Cons:
- Somewhat slow customer support
- Above-average transaction fees
The Coinbase Wallet is a user-controlled product that, according to Coinbase exchange, supports hundreds of thousands of coins and a variety of dApps. For example, Coinbase supports Bitcoin, Ethereum, Dogecoin, Litecoin, Ethereum, all ERC-20 tokens, and so much more.
But what makes it a user-controlled product?
Essentially, a 12-word recovery phrase is generated for every customer, ensuring that only the owners have access to private keys stored in their wallets.
Many hot wallets are custodial (meaning they hold on to the private key), especially the ones offered by major crypto exchange platforms. However, Coinbase stands out from the crowd by providing the complete opposite.
Not only does that make your assets safer, but it also offers flexibility, as it doesn’t tie you to the Coinbase platform. In other words, you don’t need a Coinbase account to use the wallet with full autonomy over your coins.
However, Coinbase Wallet users can’t connect the wallet to their banks hoping to trade crypto with fiat. On the bright side, the wallet app is accessible worldwide.
Source: Freepik
But, putting that aside, how good are the Coinbase wallet features?
Well, for starters, the Coinbase wallet offers a sleek yet detailed user interface, allowing you to easily navigate through the app. In addition to being easy to use, it provides dark mode and sufficient cloud storage space.
Another thing we love about this crypto storage is that it’s one of the most secure hot wallets on the market. Not only is the wallet not custodial, keeping your coins safe from hackers targeting Coinbase servers, but it offers additional security measures such as biometrics or passcodes.
To sum it up, the Coinbase Wallet is an excellent hot crypto storage to consider in 2023. It’s secure, user-friendly, versatile, and provides ultimate control over your coins.
Crypto.com Defi Wallet
Source: Crypto.com
Pros:
- Additional security such as biometrics/2FA
- Features ETH gas meter
- Staking and Web3 capabilities
Cons:
- Not universally available
- Limited analysis tools
If the Coinbase Wallet isn’t your cup of tea, Crypto.com DeFi Wallet is another excellent crypto storage to try out in 2023. Like Coinbase, this is a non-custodial wallet, which, once again, means the company behind the product puts private keys directly into your hands.
Crypto.com exchange developed the Crypto.com DeFi wallet and launched it in 2020. It supports over 1,000 cryptocurrencies and allows customers to explore the most popular dApps, all within the app. And if you want to farm, mine, or exchange crypto on DeFi protocols, Crypto.com Wallet is your best choice.
Although it doesn’t support as many coins as Coinbase, the Crypto.com DeFi wallet is a better option for NFT collectors. This wallet supports NFTs minted on various blockchains and allows users to view and manage their NFT collection.
Source: Medium.com
Staking is another benefit of using Crypto.om DeFi Wallet. That’s right– you can earn rebates on over 25 tokens, including CRO and VVS, if you choose Crypto.com as your wallet service provider. If that isn’t enough to convince you, we should mention that Crypto.com DeFi Wallet features an ETH gas meter that provides real-time updates on gas costs and transaction speeds.
Exodus
Source: Exodus
Pros:
- Trezor Wallet integration
- Desktop app available
- Reliable customer support
Cons:
- Not as versatile as competitors
- Not open-source
Exodus crafted incredible hot crypto storage is available as a mobile app, desktop, and browser extension. Out of all the hot wallets listed in this article, Exodus is the most secure choice, as it’s a non-custodial wallet with biometrics and password security features that integrates with the Trezor cold wallet. When connected, users can see their Trezor portfolios in the Exodus desktop app, making it an ideal choice for investors who like to dabble in day trading.
This cross-platform support makes Exodus the best crypto storage for both professional and first-time traders. It’s also easy to use and has a decent customer support system.
Now, the Exodus wallet supports roughly 260 cryptos and NFTs, so it isn’t the most versatile product on the market. However, if you’ve invested in or plan to buy over 260 different coins, it’s probably a good idea to invest in cold storage anyway.
Exodus wallet users can also stake some of their coins to earn rewards. When staking crypto, users have complete control of their tokens, meaning they can even use or move them during staking.
Izvor: Freepik
Exodus as a company has never been hacked. Not only that, but Exodus is actively trying to improve its products. The company invests in regular software updates, and since software patches usually involve fixing security vulnerabilities, no hot wallet offers better security than Exodus.
Coinomi Wallet
Izvor: Coinomi
Pros:
- Supports rare Altcoins
- Charges the network fee only
- Service is available in over 25 languages
Cons:
- Doesn’t integrate with hardware wallets
- Lacks 2FA
According to the Coinomi official website, this wallet is trusted by millions of crypto holders, and for a good reason. Just like the Exodus company, Coinomi has never been hacked, plus it offers 3-layer security for users to protect their funds. Users can rely on biometrics, password, a combination of these security measures, or a BIP39 passphrase.
Coinomi made it to the list of best wallets for 2023 because it supports over 125 blockchains, which no other hot wallet does, allowing it to host thousands of tokens. But, Coinomi is the oldest multi-channel wallet available on the market, so this significant advantage over competitors is partially due to Coinomi’s experience.
Coinomi can boast support for all ERC20, Omnilayer, BEP2, TRC10, and NEM Mosaic coins. It’s also trying to include assets based on other protocols in its offerings, so the number of available tokens will only increase soon.
On top of that, it’s a SegWit-enabled wallet, which employs techniques that reduce Bitcoin transaction fees. It’s also worth mentioning that Coinomi offers 168 fiat currency representations, and you can use it in 25 languages.
When it comes to the wallet interface, it is clean and user-friendly. In the Overview section, users can see the available balances and access more detailed information about their holdings by clicking on the specific coin from the dashboard.
Izvor: Coinomi
The Coinomi wallet also has a built-in exchange feature that allows you to trade cryptocurrency directly within the app. To use this feature, you will need to connect your wallet to a supported exchange, such as Binance or Coinbase. Once connected, you can view the current market prices for coins and place orders to buy or sell.
So, to sum it up, Coinomi is secure and versatile, and it’s ideal for those who want to diversify their portfolios with rare altcoins and tokens in 2023. It doesn’t have 2FA, but the BIP39 passphrase and other security measures compensate for the lack of this feature.
Trust Wallet
Izvor: Trust
Pros:
- Excellent tool for beginners
- Cross-chain asset swapping
- Non-custodial wallet
Cons:
- Doesn’t support conversion to cold storage
- No desktop app yet
Trust is a free, non-custodial one-stop shop for your crypto needs. It’s right next to Exodus regarding security, but it’s also easy to operate, regardless of your previous experience with crypto wallets.
Whether it’s used as a mobile app or a browser extension, Trust wallet offers a seamless user experience that allows you to store crypto, NFTs, stablecoins, and tokens. Still, mobile devices are more susceptible to hacks, so generally, it’s always a better idea to choose a safer option, which, in this case, is a browser extension.
In addition to being easy to use, the Trust wallet is easy to set up. The wallet app is available on iOS and Android; it takes less than a few minutes to make it operable.
Izvor: Trust
Now, according to Trust, their wallet supports about 65 blockchains and over 4,5 million assets.
Do you need that impressive variety of supported assets on a hot wallet?
Not necessarily, but it’s good to know you’ll never have to worry about flexibility if Trust becomes your primary crypto wallet. Speaking of flexibility, Trust is a non-custodial wallet, and its native decentralized exchange, DEX, allows customers to swap digital assets within the wallet app itself. Last but not least, staking is an option, too.
Best Cold Crypto Wallets
- Best features: Ledger Nano X
- Best for security: Trezor Model T
- Best for managing crypto on the go: KeepKey
- Best for advanced investors: Ellipal Titan
- Best for Bitcoin and Ethereum users: SafePal
Best Overall: Ledger Nano X, Trezor Model T
Ledger Nano X
Izvor: Ledger
Price: $119
Pros:
- Includes one USB-C to USB-A cable
- Made of stainless steal
- Compatible with 64-bit computers and smartphones
Cons:
- Relatively pricey
- Can’t store over 100 apps
The opular USB-shaped hardware wallet Nano Ledger X is well known for its security and usability. It provides a high level of protection for storing cryptocurrency assets, making it one of the best hardware wallets on the market.
The fact that Nano Ledger X is a hardware wallet, meaning it saves the private keys for your crypto holdings offline and on the device itself, is one of its key benefits. This is a crucial security feature since it eliminates the possibility of private keys being compromised or stolen by storing them off of a computer or server connected to the internet.
Nano Ledger X’s ease of use is another factor in its reputation as the best hardware wallet. Even inexperienced users can easily manage their cryptocurrency investments thanks to its straightforward UI. Speaking of crypto, you can also store and collect over 5,000 tokens and coins with Ledger Nano X, so the initial investment of roughly $119 pays off in an instant.
Ledger Nano X features a Bluetooth connection, but you can use it with or without Bluetooth. Remember that Ledger Nano X doesn’t allow users to share private keys or seed over Bluetooth. Still, its Secure Element (SE), which will ask for your permission before taking action, keeps the Ledger Nano X secure even if the Bluetooth connection is compromised.
Trezor Model T
Izvor: Amazon
Price: $219
Pros:
- A good choice for beginners
- Airtight security features
- Touchscreen user interface
Cons:
- Above-average price
- Many users complain about its shape
Trezor Model T is a hardware wallet that stores cryptocurrencies and other digital assets, including NFTs. It’s arguably the most secure cold storage on the market that allows you to store your private keys offline.
Although most cold wallets are inherently safer than hot storage options, Trezor is regarded as the safest as it offers a number of security features that make it difficult for unauthorized parties to access your assets.
One of the main features of Trezor Model T is its security chip, designed to protect against advanced attacks. The security chip is an isolated environment resistant to tampering, making it difficult for anyone to access the data stored on the device.
Izvor: Trezor
Additionally, Trezor Model T uses a passphrase to protect your funds in case of a robbery or damage. This passphrase acts as an additional layer of security, requiring anyone trying to access crypto to enter the correct passphrase.
Not only is Trezor secure, but it’s user-friendly and affordable, too. It also features a color touchscreen display for convenient transactions and a USB-C port for connecting to a computer or other devices compatible with this port. The interface is intuitive and visually appealing, providing a seamless experience to anyone using it.
Trezor Model T natively supports 14 cryptocurrencies. The wallet can keep hundreds of non-native assets, but they must be managed via a third-party interface, such as Electrum.
KeepKey
Izvor: KeepKey
Price: $99
Pros:
- Compact and beautifully designed
- Supports a decent range of crypto
- Transactions must be approved manually
Cons:
- Not the best support system
- Custom fee for Bitcoin transactions
If 2023 is the time to buy a new crypto wallet, and you want it to be both secure and stylish, KeepKey could be the cold wallet you need. This sleek little device is compact and aesthetically pleasing, making it the perfect storage space for keeping digital assets safe and sound no matter where you go.
Portability, security, and stylish design are the top three benefits of KeepKey. It’s beautifully designed to fit into your pocket, allowing you to access your crypto on the go.
Additionally, one of its many other benefits is that during initialization, each device creates a 12-word recovery phrase that can be used to retrieve private keys. So, even if you misplace or damage your cold crypto storage, you can always access your coins and transfer their private keys onto a new device.
Another reason to choose KeepKey is that users must manually approve each transaction , leaving no room for unauthorized transactions. And if you need flexibility, this hardware wallet supports over 1000 cryptocurrencies and tokens, allowing you to utilize your device in the best way possible.
Still, it’s essential to mention that this is a solid piece of hardware. However, security-wise, it isn’t comparable to more secure options, such as Trezor or Ledger products– KeepKey made it to this list mainly because it offers convenience and is great for traveling with crypto.
Ellipal Titan
Izvor: Ellipal
Price: $169
Pros:
- 100% air-gapped
- Damage-proof storage
- Supports a decent amount of digital assets
Cons:
- Doesn’t offer access to Xpubs
- Fairly expensive
Ellipal is less prominent than its competitors, and it undoubtedly deserves more praise from the public. It can host over 10,000 coins and tokens, and its security meares are immaculate. So if you want to buy cold crypto storage at a reasonable price point but don’t want to miss out on all the great features, let me introduce you to Ellipal Titan.
Izvor: Ellipal
Ellipal is an excellent choice for serious crypto investors who hold much more crypto than the average Web3 enthusiast. It should also be considered by anyone who prioritizes safety, as this hardware wallet is 100% air-gapped.
That’s right- this wallet doesn’t require a connection to a network or device to operate. Instead, users can connect to it by scanning the QR code on Ellipal Titan’s screen or using the device itself to scan QR codes on other devices.
Speaking of tight security, this hardware wallet features a tamper-proof metal case. In other words, someone other than you can open it, but not without destroying your device. But don’t worry- with the right combination, you can still recover your private keys.
SafePal
Izvor: SafePal
Price: starting from $49,99
Pros:
- NO KYC
- Partnered with Binance
- Air-gapped
Cons:
- Relatively small screen
- Crypto transfers can be complicated
SafePal hardware wallet is a cheaper alternative to other cold wallets mentioned in this article. It costs only around $50, but don’t let the price fool you. The wallet is remarkably structured, giving over six million owners an excellent user experience, and it comes with a self-destruct mechanism to keep your crypto safe.
SafePal is also Binance’s first hardware wallet, as this major crypt exchange partnered with this wallet service provider to ensure its users get the best of the best.
Now, let’s talk about the features.
SafePal doesn’t apply KYC standards, meaning the provider doesn’t collect your IP address and other privacy details that may compromise your wallet’s security. Even better, you don’t have to register with SafePal to start using its wallet, so you can rest assured that your investments and personal information are for your and your eyes only.
Izvor: SafePal
Another reason to consider SafePal is that this wallet comes with an offline, 100% air-gapped mechanism. On top of that, the SafePal hardware wallet supports 54 blockchains and unlimited tokens and offers unlimited crypto storage. Pretty neat for a budget-friendly wallet, right?
Conclusion
As you can see, we’ve listed the 10 best wallets for 2023 that will, hopefully, continue to serve millions of veteran crypto holders and newbie investors alike. Each of these wallets is good for something, so before you make a final choice, be sure to evaluate your investment goals for the following year, as this assessment can help you find a wallet that fits your needs best.
