You can use a digital or hardware cryptocurrency wallet to either buy, sell, or protect your crypto - interacting with various blockchains. Find out our picks of the best crypto wallets available in the UK.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
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Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
There are so many ways to invest and use cryptocurrency, but you want to make sure you’re interacting with the blockchain. Along with being secure, you also want these interactions to be as straightforward as possible, and that’s where cryptocurrency wallets step in.
Understanding how crypto wallets work and the options available can feel overwhelming. So, to help you safely buy, send, and store cryptocurrency – we’ve researched the market and selected our picks for the best crypto wallets in the UK.
Our selection of the best Bitcoin and crypto wallets uses our custom methodology and is updated by our editorial team throughout the year to reflect changes in the market.
“Best for” picks are those we’ve evaluated to be best for certain product features or categories. If we show a “Promoted” pick, it’s been chosen from among our commercial partners based on factors that include special features or offers and the commission we receive.
Keep in mind that these picks are suggestions and that the best crypto wallet for you will depend on your individual needs. There are other wallets on the market not included in our picks.
Uphold is our recommendation as the best crypto wallet for beginners due to its simple and intuitive interface. It supports a wide range of cryptocurrencies and even traditional assets, making it a great entry point for new users looking to diversify your portfolio.
With Uphold, you can use its Bitcoin (BTC) wallet, the Uphold Vault (a hybrid of non-custodial and custodial using a multi-sign set up where you hold 2 keys and Uphold controls the third), and the Uphold card (a multi-asset UK Mastercard).
Uphold’s “Anything-to-Anything” conversion feature allows seamless swapping between asset classes - including crypto, foreign currencies, and commodities. It also has excellent features to help beginners keep a diversified crypto portfolio by investing in “Baskets” of cryptos.
Uphold’s transparent fees ensure beginners aren’t hit with any unexpected costs. With built-in educational resources and user-friendly navigation, Uphold’s wallets make it easy for newcomers to get started in the world of cryptocurrency.
eToro’s wallet stands out as the best choice if you’re looking for a digital multi-asset solution.
Designed to offer more than just crypto storage, you can manage a wide range of assets on the eToro platform, including cryptos, stocks, commodities and more.
Although hardcore crypto enthusiasts may not love eToro’s diverse approach, the user-friendly interface and integration between the eToro crypto wallet and the rest of the eToro trading platform makes it easier for investors to manage a diversified portfolio all in the same place.
With a strong focus on regulation and security, eToro will appeal to UK crypto investors wanting a versatile, multi-asset wallet with an emphasis on simplicity and global compliance.
Kraken recently introduced its open-source wallet, and was the first major exchange to do so, which is why it’s our top pick for this category.
As a trusted and long-standing name in the crypto space, Kraken propelled its reputation into further positive territory when it comes to security and transparency with the Kraken wallet. Kraken allows users to view the code for its wallet on github, allowing developers the ability to audit the platform’s wallet and highlight potential vulnerabilities.
This open approach helps to create more innovation but also means Kraken can remain a secure option for storing and trading crypto. Those who appreciate the community aspect of the crypto space will particularly like Kraken’s community-driven approach to crypto wallet security and development.
For years, the Ledger Nano X has led the way as one of the best hardware wallets in the world. Keeping your private keys offline with a Ledger Nano X can help protect your crypto from potential online threats.
So, you might find a Ledger Nano X is a worthwhile investment. This crypto wallet looks great and backs up these aesthetics balancing convenience and security, allowing you to manage your crypto portfolio from anywhere in the world with maximum protection.
The Ledger Nano X wallet supports over 5,500 cryptos, Ethereum and Polygon NFTs, and over 1,000 DeFi apps from a single user interface available on both desktop and mobile. So it’s an excellent choice for a hardware wallet if you’re looking for some long-term security for your crypto investments.
CoinJar stands out as our best free wallet for UK cryptocurrency because of its low fees. With competitive transaction costs (free to deposit or withdraw via bank transfer) and an easy-to-use platform, CoinJar’s free web wallet is designed to help you make the most out of your crypto with minimal fees.
Whether you’re buying, selling, sending or storing digital assets, CoinJar’s free crypto wallet is straightforward to use with transparent pricing and even has discounts for recurring buys. You can send and receive 50+ cryptos and transfer between CoinJar wallets fee-free.
CoinJar’s web wallet assets are stored in BitGo and Fireblocks as crypto custody providers and if you run into problems, CoinJar has a UK support team you can get in touch with.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.
The Trezor Safe 5 wins our best pick for experienced users thanks to several advanced features:
Multisig. Multisig wallets allow for multiple stakeholders to manage a single Bitcoin wallet. This is particularly useful for businesses and families.
Taproot. Trezor Suite supports Bitcoin Taproot addresses which can reduce fees, improve privacy and enable smart contracts on Bitcoin.
Shamir backup. Instead of using a single seed phrase, Shamir backup distributes it across multiple phrases which can then be stored in different locations. Think of it like multisig for a seed phrase.
Timelock. Users can delay a transaction until a specified block height.
Tor Switch. Anonymise your crypto transactions using the Tor network, which can be enabled via Trezor Suite.
Where the Safe 5 falls short is the range of coins and tokens it supports. It's best thought of as a Bitcoin wallet first and an altcoin wallet second. The Trezor Suite software only supports a small handful of popular blockchain
With over 30 million active users, MetaMask is the go-to choice for anyone looking to dive into the world of Web3. It’s our pick as the best Web3 wallet for interacting with this growing area of crypto.
MetaMask was one of the first non-custodial wallets to help open the door to the world of Web3 and DeFi. Operating as a browser extension and a mobile app, MetaMask lets you connect to dApps, store NFTs and digital assets and trade cryptos across several different blockchains.
It provides a user-friendly gateway to the Ethereum blockchain and beyond. Whether you’re minting NFTs, using DeFi protocols, or exploring the broader dApp ecosystem, MetaMask ensures that you can easily connect and transact in the decentralized web.
A key feature behind the popularity of MetaMask's Web3 wallet is the ability to buy and sell cryptos without providing any personal information. To start trading on DeFi exchanges you simply install the app or browser extension and log in using your private seed phrase.
Crypto.com’s non-custodial wallet takes the crown as our best pick for a DeFi wallet, aimed at crypto users interested in the decentralized finance space.
The Crypto.com DeFi wallet gives you complete control and allows you to access plenty of DeFi features like staking, yield farming, and of course - decentralized exchanges.
Holding no custody over your assets, Crypto.com gives you full autonomy by ensuring only you hold the private keys to your crypto.
The wallet also does an excellent job of integrating with the broader Crypto.com ecosystem, making it our top choice for DeFi enthusiasts looking to maximise their cryptocurrency utility and interact with the standard networks alongside the decentralized world of crypto.
CThe Coinbase Wallet doesn't require a Coinbase account to use it but verified account holders can connect directly to Coinbase's exchange to buy crypto. This seamless integration makes it our pick for the best exchange wallet.
The Coinbase Wallet can be downloaded as a mobile app or browser extension and features an easy-to-navigate UI consistent with the Coinbase exchange.
The wallet is automatically configured to support many blockchains, including all EVM-compatible chains, Solana, Fantom Opera and more. Security on the Coinbase wallet is consistent with the industry standard for non-custodial wallets, which means it does come with some counterparty risk. If convenience and easy access to your funds on Coinbase is important to you, then this exchange wallet has a lot to offer.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.
Atomic Wallet is our pick for best desktop wallet thanks to its support for over 500 crypto coins and tokens across more than 50 blockchains in a single app – and it's available on Windows, Mac and Linux.
Its easy-to-use interface makes it a popular choice for beginners and pros alike. The wallet was launched in 2017 by Konstantin Gladych, CEO of Changelly. Changelly is a decentralised crypto exchange built into Atomic Wallet, allowing you to swap cryptos or purchase them with a credit or debit card.
You can stake 10+ digital assets including Cardano (ADA), Cosmos (ATOM) and Tezos (XTZ), and the wallet features an NFT gallery for the Solana blockchain. If you run into any problems while using Atomic Wallet, you can reach out to its 24/7 customer support team.
Wallets Supported Cryptocurrencies
BTC, LTC, ETH, TRX, DGB, QTUM, XLM, ZEC, XRP, BCH and 150+ more
Leading cryptocurrencies supported
BTC,ETH,XRP,LTC,ADA,USDT,BNB,DOGE
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.
The COLDCARD Mk4 is our best pick for a Bitcoin wallet seeing as it only supports Bitcon and is one of the most popular hardware wallets among hardcore Bitcoin maximalists.
The Mk4 doesn't have some of the functionality of Ledger or Trezor hardware wallets, but it does offer industry-leading security for the private keys to your BTC. The device features 2 Secure Element chips – the same type of chips used to protect data for passports and credit cards – to protect your private keys.
To keep the private keys that you store on the device extra secure, you can send BTC to and from your device without even connecting it to a computer. When you use desktop software wallets like Sparrow or Electrum, you can use a microSD card to transfer data back and forth from your computer to your Mk4.
The cryptocurrency market still largely revolves around the original crypto, Bitcoin (BTC). So, all of the best UK crypto wallets will support Bitcoin and some platforms like Uphold have specific wallets completely dedicated to Bitcoin.
When deciding which Bitcoin wallet is best for you, you have to first decide whether you’d like to use a hot or cold wallet. Hot wallets are crypto wallets that remain connected to the internet and are therefore less secure than cold wallets, which are used to store assets offline.
Sometimes a blend of hot and cold wallets will help you get the right balance between blockchain interaction and safety. Our top pick for a Bitcoin wallet that ticks all the boxes is the Coldcard Mk4.
What is a crypto wallet?
A cryptocurrency wallet is a software program that allows you to store, send and receive digital currencies.
Because cryptocurrency doesn’t exist in any physical form, your wallet doesn’t actually hold any of your coins – instead, all transactions are recorded and stored on the blockchain.
Some cryptocurrencies have their own official wallets, while other products allow you to store multiple currencies within the same wallet.
Bear in mind that different digital currencies have different address types and you’re usually only able to send coins between like wallet addresses. This means you’ll need to send Bitcoin to a Bitcoin wallet address, Ethereum to an Ethereum wallet address and so on.
How do cryptocurrency wallets work?
Instead of holding physical coins, a wallet has a public key and a private key.
Public key. This is a long sequence of letters and numbers that forms the wallet address. With this, people can send money to the wallet. It’s similar to a bank account number in that it can only be used to send money into an account.
Private key. This is used to access the funds stored in the wallet. With this, people can control the funds tied to that wallet’s address. It’s a lot like your PIN number in that you should keep it 100% secret and secure. However, it’s worth noting that not all wallets give you sole ownership of your private key, which essentially means that you don’t have full control over your coins.
As well as storing your public and private keys, crypto wallets interface with the blockchains of various cryptos so that you can check your balance and send and receive funds.
How wallets and blockchains interact
The blockchain of any cryptocurrency contains a public record of all the transactions that have been made since it began. Your wallet address keeps a record of all your transactions and tracks your crypto balance. By following the chain all the way to the present day, a wallet can figure out how many coins you have.
For example, let’s say Alice sends Bob 0.001 BTC. Once this transaction has been verified and added to the blockchain, the ledger records that the amount of Bitcoin at Alice’s wallet address has decreased by 0.001 and that the amount of Bitcoin at Bob’s wallet address has increased by 0.001 BTC.
The amounts sent and received as well as the public wallet addresses are all public information.
Now that you know how crypto wallets work, let’s take a closer look at the different types of wallets available. Each has its own advantages and disadvantages in terms of security, ease of use, convenience and a range of other factors.
Hardware
Software
Exchange
Security
Excellent
Good
Poor
Usability
Easy, but more complex than software
Easy
Easy
Convenience
Can’t access funds without the hardware device
Need access to the same device you set the wallet up on
Can access from any internet-connected device
Risks
Not having access to the device can be an issue if you need instant access
Vulnerable to malware, theft and hacking
Highly vulnerable to phishing and a popular target for hackers
Examples
Ledger Nano X, Trezor Safe 5
Kraken, MetaMask
Coinbase, eToro
Cost
£100 – £200
Free to download
Free to download
Easy to use, good level of security, plenty of choice, free to download.
Risk of computer viruses and malware. Inconvenient if you want to manage your crypto on the go.
The most common type of wallet out there, desktop wallets are downloaded and installed on your computer, which is where the private key is stored. Many cryptocurrencies offer a desktop wallet specifically designed for their coin.
Desktop wallets provide a relatively high level of security since they’re only accessible from the machine on which they’re installed. The biggest disadvantage is that they rely on you to keep your device secure and free of malware.
Very easy to use, convenient, wide range of options available and free to download.
Losing your phone could cause problems including risk of hacking.
Mobile wallets feature many of the same advantages and disadvantages as desktop wallets, with your private key stored on your device.
They are often easier to use compared to desktop wallets and include the ability to scan other wallet addresses for faster transactions. They also make it simpler to access your coins on the go and use cryptocurrency as part of everyday life.
You will need to be extra careful about losing your smartphone because there’s a risk that anyone who has access to your device might also have access to your funds.
The easiest way to use Web3 applications and several now let you buy and sell crypto in-wallet.
Not ideal for storing large amounts of crypto as they are vulnerable to smart contract exploits and phishing scams.
{{ do_shortcode_twig(‘
Web3 wallets‘) }} are similar to software wallets but run in your web browser. They are designed for use with Web3 applications (also known as dApps). They are simple to use and many now let you purchase or trade cryptocurrencies directly from the wallet.
Despite their ease of use, Web3 wallets are not generally recommended for storing large amounts of crypto. This is because they are especially vulnerable to smart contract exploits. These are similar to phishing scams, where scammers lead you to a fake version of a website and ask you to connect your wallet and enable spending permission. The attacker is then able to steal your funds.
Generally considered to be the most secure option, offline storage, easy to set up and use.
Most expensive option and inconvenient if you want quick access to your funds.
Hardware wallets add another layer of security by keeping your private key on a USB stick or a specially-designed piece of hardware. They allow the user to plug the USB stick into any computer, log in, transact and unplug. So while transactions are carried out online, your private key is stored offline and protected against the risk of hacking. As a result, hardware wallets are widely considered to offer the most secure storage option.
The biggest disadvantage of hardware wallets is that they’ll cost you. Prices vary depending on the model you choose but generally land upwards of $100. You also need to keep the device safe. But if you do lose your hardware wallet, the device itself is PIN-protected and there are usually other protective measures in place to help you recover your funds.
Convenient if you plan on staking or trading frequently, easily access your funds with your account name and password from any device.
You don’t own the private keys, exchanges are targets for hacking and phishing scams.
If you don’t want to go through the added step of setting up a crypto wallet, it’s possible to store your cryptocurrency in the wallet attached to the exchange you purchased from. This is a quick and convenient solution and provides fast access to your crypto whenever you need it, but it’s generally not advised for a couple of reasons.
You don’t control the private key to your exchange wallet. Instead, it’s controlled by the exchange, which effectively means that you don’t fully own your cryptocurrency.
Exchanges are a popular target for hackers and thieves. There have been many well-publi{{ locale.cise }}ed incidences of exchange customers falling victim to scammers as well as examples of fraud perpetrated by dodgy exchange operators.
Must read: Hot wallets vs cold wallets
As you’re researching and comparing a range of wallets, you’ll probably come across the terms “hot wallet” and “cold wallet”, or perhaps the concept of “cold storage.”
So, what does temperature have to do with crypto storage?
Hot. A wallet is hot when it’s connected to the internet. Nothing on the internet is 100% secure, so funds kept in a hot wallet are always at a slight risk of theft or loss from software bugs or hackers.
Cold. A wallet is cold when it’s safely offline and can’t be deliberately or accidentally compromised over the internet.
Best cold wallets
If you want to use a cold wallet, these have the best suitability for long-term storage because everything is kept offline. However, to make the most of a cold wallet’s security features, you also want to make sure it’s designed with usability in mind.
Controlling your cryptos in a cold wallet is typically more secure, but you have to know what you’re doing if you’re managing everything yourself, so it’s important that the best cold wallets make it a seamless experience to move your crypto offline and online.
Best hot wallets
One of the best advantages with a hot wallet is that you can quickly have your crypto at your fingertips if you plan to sell or move it. So, the ideal use case scenario for a hot wallet is if you want a secure place to store your digital assets, but you also want to be able to access them quickly and easily.
If you decide a hot wallet better suits your needs, you’ll have plenty of options to choose from and the fact that many of these are free can make them useful for crypto investors on a budget. However, the key disadvantage with a hot wallet is that the online connectivity can leave you crypto portfolio slightly exposed. So, the best hot wallet options should come with extra layers of security to prevent bugs or hacks.
How to choose the best crypto wallet
Now that you know all about the different types of wallets available, it’s time to find a wallet that’s right for you. To do that, you’ll need to consider your needs and compare a range of wallets based on several key factors, including the following:
The type of wallet you want. This factor comes down to personal preference. If security is your number 1 priority, you’ll probably want to compare hardware wallets. But if your main goal is being able to quickly and conveniently access your coins, a mobile or web wallet may be your preferred choice.
Ease of use. Sending, receiving and storing cryptocurrency can be complicated and confusing, particularly for beginners. It’s essential that any wallet you choose suits your tech knowledge and level of crypto experience. So while crypto novices might focus on finding a wallet that is simple to set up and use, experienced holders might look for more advanced features including in-wallet exchange and multi-signature transactions.
Security features. Find out the security features of the wallet such as 2-factor authentication and multi-signature functionality. Will your private key be stored online or offline? Has the wallet ever suffered any security breaches?
Other features. Check what other features the wallet includes, such as the ability to exchange between currencies within your wallet or providing easy access to live fiat exchange rates or other market information.
Supported cryptocurrencies. Are you looking for a wallet that stores just 1 crypto, like Bitcoin, or are you in the market for a multi-currency wallet? Make sure the wallet you choose is compatible with the cryptocurrencies you need to store and remember that some coins and tokens can only be held in an official wallet.
The team behind the wallet. Next, see what sort of information you can find out about the people behind the wallet. How long have they been in business? What qualifications do they have? Are they continually working to upgrade and improve the wallet?
Cost. While most crypto wallets are free to use, choosing a hardware wallet means you’ll have to be willing to part with some cash. Consider the upfront price and shipping costs when making your decision. Some wallets charge a fee for every transaction you make, so check the fine print.
Reputation. What level of community trust does the wallet have? Check out a range of independent online reviews to gauge how other users rate the wallet and whether they would recommend it.
How to use a crypto wallet
You’ve chosen your wallet and completed the setup process. Now it’s time to learn how to use it, so check out the step-by-step instructions below on what you’ll need to do.
To send funds from your wallet, you’ll need a wallet address (the recipient’s public key). These addresses are given in 1 of 3 ways:
A long alphanumeric string (numbers and letters)
A QR code (for smartphone wallets)
A URL-like web link (clickable – opens your wallet automatically)
Once you have this address, you will need to do the following:
Log in to your wallet.
Click on “Send”.
Enter the recipient’s wallet address. Please note that you can generally only send and receive like coins. For example, you can only send Bitcoin to Bitcoin or Ethereum to Ethereum. You can’t send Bitcoin to an Ethereum wallet address.
Specify the amount (and possibly the currency) you want to transfer.
Check any transaction fees that apply, making sure you have enough coins in your wallet to pay the fees.
Review the details of the transaction to make sure you’ve correctly entered all the information.
Click on “Send”.
Please note that the exact process will vary depending on the type and brand of wallet you choose. Hardware wallet users will typically need to connect their wallet device, enter a PIN or password and manually verify the transaction on the device itself.
How to receive cryptocurrency in your wallet
Receiving coins is even easier than sending them. However, wallets vary greatly in the way this is done: some will provide you with a fixed public address, some will give you a new address for every transaction and others will provide a combination of the two.
Log in to your wallet.
Click on “Receive” link.
Copy the public wallet address provided.
Send your address to the person who will be sending you a payment.
Wait for the funds to arrive in your wallet.
Holding funds in your crypto wallet
If you want to hold onto your crypto, there’s typically not much you need to do once the funds have arrived in your wallet. You can log in to your wallet whenever required to check your balances. Some currencies may allow you to earn interest on your coins by “staking” your holdings (you may need to follow specific instructions in your wallet to do this).
Other than that, the main thing you need to focus on is maintaining a high level of security at all times.
How to keep your crypto wallet safe
Wallet security is a crucial consideration for any crypto owner, so keep these tips in mind to ensure you keep your funds as safe as possible:
Research before you choose. Don’t just choose the first crypto wallet you come across. Thoroughly research the security features and development team behind a range of wallets before making your final decision.
Enable 2-factor authentication. This is a simple security feature available on an increasing number of wallets. It’s simple to use and provides an extra layer of protection for your wallet.
Pick your password carefully. Don’t be lazy when choosing a password. Make sure all usernames, PINs and passwords related to your crypto wallet are as strong as possible.
Consider a multi-signature wallet. Multi-signature wallets require more than 1 private key to authorize a transaction, which means another user or users will need to sign each transaction before it can be sent. Though this means it’ll take a little longer to send funds, you may find that the extra peace of mind is well worth the minor hassle.
Update your antivirus protection. Make sure your PC, laptop, smartphone or tablet has the latest antivirus and anti-malware software installed. Make sure to set up a secure firewall on your computer and that you never install software from companies you don’t trust.
Update your wallet software. Take care to update your wallet software regularly so that you always have the latest security upgrades and protections installed.
Make a backup. Ensure that you have a wallet backup stored in a safe place so you can recover your crypto funds if something goes wrong, like if you lose your smartphone.
Check the address. When sending or receiving funds, make sure you’re using the correct wallet address. Similarly, if using an online wallet, make sure it is secure (i.e. check that its URL starts with “https://”)
Don’t use public Wi-Fi. Never access your wallet over a public Wi-Fi network.
Split your holdings. Consider splitting your crypto coins up between online and offline storage. You can keep a small portion of your funds in online storage for quick and convenient access, and store the bulk of your holdings offline for extra security.
Private key protection. Remember – you can’t access your coins without your private key, so don’t disclose it to anyone. Check whether the wallet you choose allows you to retain full control of your private keys, or whether you’ll have to surrender ownership to a third party such as an exchange.
There’s no such thing as a one size fits all “best crypto wallet.” The right wallet for you will match your needs, so if security is your number 1 concern, you’ll probably end up choosing a different wallet to someone who wants fast and easy access to their coins.
The key thing to remember is to do your research and compare a range of wallets first. Start with our range of crypto wallet reviews to get an idea of what’s available and the key features you need to consider.
Methodology
To evaluate our 2024 picks for the best crypto wallets, we compared 50+ wallets on a range of criteria, including the following:
Crypto and blockchain compatibility. Does it support a good breadth of coins, tokens and blockchains?
Ease of use. Is it user-friendly and suitable for new crypto investors?
Security. Does it offer non-custodial or offline cold storage for added security?
Cost. Is it a free software wallet or is there an initial outlay? If applicable, how does its price compare to similar products?
Extra features. Does it support NFTs or offer additional features such as staking or in-wallet purchases?
Mobile accessibility. Can you manage your portfolio from a mobile device?
Web3 support. Can you directly access Web3 and decentr{{ locale.alise }}d apps (dapps) from within the wallet?
Frequently asked questions about crypto wallets
There’s no simple answer to this question as the right wallet for you depends on your personal needs. To help narrow down the choices, ask yourself a few key questions:
Which crypto(s) do I want to store?
Do I want a wallet I can use for everyday purchases and payments or a wallet I can use to buy and hold crypto for the long term?
How do I want to access my wallet?
How important is wallet security and what security features do I want?
Your answers should help you decide on the type of wallet that’s best for you, or you can take a look at some of our top picks.
There is a broad consensus that {{ do_shortcode_twig(‘
hardware wallets‘) }} are the most secure. This is because they are a form of cold storage, meaning that the private keys are kept offline and never connected directly to the internet. Transactions are sent to the wallet, which signs them using the private keys stored on the device and then sends the authorised transaction back to your computer and onto the blockchain. But the private key itself never gets moved onto your internet-connected device.
This is different to software wallets, which store your private keys on your computer or smartphone and leave them vulnerable any time your device is connected to the internet.
Not really. While most wallets aren’t linked to your identity, cryptocurrency transactions are stored permanently on the blockchain and can potentially be traced back to you.
If anonymity is important to you, you may want to consider transacting with a privacy-focused coin {{ do_shortcode_twig(‘
such as Monero‘) }}.
Many wallets don’t charge any fees but some do – so check the fine print closely. Sending a crypto transaction from your wallet usually attracts a small network fee, which varies depending on the asset being sent.
This fee is not charged or received by the wallet provider and instead applies to all transactions that take place on a coin’s network.
This depends on the cryptocurrencies you own and the wallet you choose. Some wallets only allow you to store 1 particular asset, while multi-currency wallets can support any number of digital currencies.
Check your wallet provider’s list of supported coins and tokens for more information.
No, you can’t send Bitcoin to an Ethereum wallet or Ethereum to a Bitcoin wallet. Different cryptocurrencies have different address types, so it’s important to double-check that you’re sending funds to the correct address before submitting a transaction. Funds sent to the wrong address generally cannot be recovered.
A hardware wallet isn’t essential, no. You can leave the private keys for your crypto in the hands of a centralised exchange. But you risk losing access to your assets if the exchange becomes insolvent or gets hacked.
You can also custody the private keys to your digital assets with a non-custodial wallet like Exodus or MetaMask.
No. Different hardware wallets support different cryptocurrencies. For example, Ledger wallets can store the private keys to over 5,500 crypto assets, while the COLDCARD Mk4 can only store the private keys to your Bitcoin.
Of the hardware wallets we reviewed, Ledger’s support for more than 5,500 coins, tokens and NFTs puts its nose in front of the competition.
George is a deputy editor at Finder. He has previously written for The Motley Fool UK, Nasdaq, Freetrade, Investing in the Web, MoneyMagpie, Online Mortgage Advisor, Wealth, and Compare Forex Brokers. He's focused on making personal finance and investing engaging for everyone. To do this he draws from previous work and his Level 4 Diploma for Financial Advisers (DipFA), sharing what he’s learnt. When he’s not geeking out about money, you’ll find him playing sports and staying active. See full bio
George's expertise
George has written 187 Finder guides across topics including:
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