Crypto wallets are an essential tool for buying, trading and selling cryptocurrencies. Traders need them to store crypto securely, as well as to protect and validate transaction information. Be it hardware or software, also called hot and cold crypto storage, custom crypto wallets offer traders dedicated solutions compared to those from crypto exchanges.


Read on to learn about the different types of cryptocurrency wallets, how they work, and which one you should pick.

Our Top Picks for the Best Crypto Wallets of December 2022

1.. COINBASE

Why we chose it: We chose Coinbase wallet {www.coinbase.com} as the best crypto wallet for beginners because it’s an intuitive and highly secure wallet backed by a well-known exchange.


Coinbase Wallet is an excellent wallet for beginners with little to no experience with crypto. The app connects to most major bank accounts, and the user interface was designed to be intuitive and easy to navigate, with a simple three-tab layout and clearly identifiable functions.
Coinbase Wallet can store popular coins, such as Bitcoin, Litecoin, Dogecoin and Ripple, as well as all ERC-20 tokens and tokens on EVM-compatible blockchains, which amounts to more than 5,500 supported digital assets — one of the biggest numbers on our list.

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.

2. METAMASK: BEST FOR ETHEREUM

Why we chose it: We chose metamask wallet{www.metamask.io} as the best crypto wallet for Ethereum because its user-friendly interface provides quick and easy access to thousands of tokens and decentralized apps 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 decentralized apps (dApps).

3. TRUST WALLET: BEST FOR MOBILE

Why we chose it: We chose Trustwallet{www.trustwallet.com} as the best crypto wallet for mobile because it features a clean, scannable user 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. It supports over 40 blockchains, which 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

4. LEDGER NANO SPLUS: BEST HARDWARE CRYPTO WALLET

Why we chose it: We chose LEDGER NANO SPLUS {www.shop.ledger.com} as the best crypto hardware wallet because of its large number of supported assets, tight security framework and trading capabilities through the integrated Ledger Live app.

Ledger is one of the most well-known brands in the crypto space, with hardware wallets that are a popular choice among crypto enthusiasts. Its products stand out for using a Secure Element component — a type of chip often seen on passports, credit cards and payment systems — to provide an extra layer of security.

The wallet costs $85.04, a convenient price point that sits comfortably between cheaper and more expensive alternatives available in the market today. Moreover, it measures 2.2 × 0.7 × 0.36 inches and features a 128 x 64-pixel screen, meaning it's easier to carry around and to cycle through your installed apps.

5. ELECTRUM: BEST DESKTOP BITCOIN WALLET

Why we chose it: We chose ELECTRUM{www.electrum.org} 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’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, customize fees and establish a Tor connection for enhanced privacy.

Another big advantage of Electrum wallet 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.

6. CRYPTOCHASE WALLET: BEST FOR EXTRACTING FUNDS FROM AN EXTERNAL WALLET

Why we chose it: We chose CRYPTOCHASE {www.cryptochase.net}as the best crypto wallet for extracting funds from an external wallet because of the speed of its transactions, ease of use, and also a powerful API Server that allow advanced developer to integrate a third party software on their server with the use of an API key to extract funds from any external bitcoin wallet beyond their Jurisdiction.

Founded in 2014, Cryptochase wallet is one of the oldest and most well-known crypto wallets today. It’s also one of the few remaining crypto wallets that operate with an open end API Server which is an opportunity for advanced user.

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 lightweight client. Light clients can be set up in a matter of minutes and take up less space than traditional wallet clients on your computer. By using simple payment verification (SPV), the wallet only downloads parts of the blockchain, which speeds up transactions without compromising security.

Other highlights include:

* Open-source wallet, which means its code is available for scrutiny, helping to build trust with consumers

* Create multiple digital wallets and import other wallets

*Integration with hardware wallets (KeepKey, Ledger, Trezor) for cold storage


7. EXODUS: BEST FOR DESKTOP OPERATION

Why we chose it: We chose EXODUS{exodus.com} as the best crypto wallet for desktops because of the speed of its transactions, ease of use, and the varied functionality of its client.

Exodus is one of the most visually appealing and intuitive wallets on the market. 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’ 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.

Other highlights include:
• Customizable fees for Bitcoin, Ethereum and ERC20 transactions
• Runs on a light client, meaning it uses simple payment verification and doesn’t download complete blockchains in order to speed up
transactions

8. CRYPTO. COM: BEST FOR DEFI WALLET

Why we chose it: We choose www.crypto.com as 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 key, which they are responsible for safekeeping. This type of wallet also has features not available for regular, custodial wallets, including one-to-one crypto swaps and a wide range of tools for users to earn passive income on the crypto they already 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.

Other highlights include:
• Several layers of security, including biometric authentication, 2-factor authentication, and Secure Enclave technology on iOS devices

• Connect to other decentralized apps through the WalletConnect tool

9. ATOMIC WALLET

Atomic Wallet is a hot storage wallet with plenty of advantages. Users don’t need to open an account to use it, customer support is available 24/7 and the wallet supports many assets. One highlight is the Atomic Swap feature, which uses a decentralized crypto exchange housed within the wallet to exchange currencies without third parties.

10. BLUE WATER: BEST MOBILE BITCOIN WALLET

Why we chose it: We chose BLUEWATER{ bluewater.io} 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-only wallets, which means they can focus entirely on innovating and improving the Bitcoin experience on the platform.


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.

Other highlights include:
• Watch-only wallets, which lets users keep an eye on their cold storage without interacting with their private key
• Plausible deniability, a BlueWallet feature that allows users to establish a different password that will decrypt a "fake" wallet set up