When you first enter the crypto sphere, one of the first decisions you must take is which crypto wallet to use. The market offers you a wide variety of hot and cold wallets, with some allowing a wide selection of currencies and others only accepting a select few. This guide will help you choose the best cryptocurrency wallet to match your goals.
Before diving into proper cryptocurrency wallets, you should be aware that certain top cryptocurrency exchanges like eToro offer you a built-in wallet. This allows you to store your crypto directly with the exchange, and, should you forget your login details, you can ask someone for help. Some of the best cryptocurrency exchanges, including eToro, CEX.io, Coinbase and Binance offer free in-built wallets.
Ledger Nano X Wallet
As one of the most secure Bitcoin wallet around, the Ledger Nano X is a hard wallet designed by a company which specialises in this sector. Able to connect with your phone via Bluetooth, this cold storage device is very user-friendly and can hold a mind-blowing, 1,150 different cryptocurrencies. The Ledger Nano X could therefore easily become your preferred wallet for Ripple and a host of your favourite coins.
Priced at around $120, it is one of the more expensive wallets in this list, however, if you’re planning to store a substantial amount of currency, this hardware wallet is definitely a good choice.
Keep Key Wallet
Being one of the oldest hardware wallets around, KeepKey has built its reputation on offering a high degree of security to its users. This cold storage is probably better suited for more experienced wallet users, as it does require setting up. KeepKey can accept up to 54 different currencies, and whilst that may not sound like many, it includes all the major popular ones. In fact, KeepKey can easily become your ideal Etherium wallet.
This cold storage is priced at around $130 and includes a recovery option. It is one of the higher rated options in Bitcoin wallet reviews, and its users are generally satisfied with its features and functions.
Ledger Nano S
The precursor to the Nano X, the Ledger Nano S remains a popular hard wallet to this day thanks to its great features and low price. Accepting over 1,100 different cryptocurrencies and including a recovery option, this cold storage device fulfills the needs of the majority of crypto owners. Unlike the Nano X, this device does need some technical experience to set up, however you can check out this Ledger Nano S review to help you.
Priced at just $59, it is one of the lowest-priced hardware wallets around. Whilst perhaps not the cheapest, it offers a high degree of security and reliability, which makes the Ledger Nano S great for storing Ripple.
Trezor is also a hardware wallet which, like the Nano S, requires some experience to properly configure. First released in 2014 at the first hardware wallet for Bitcoin, it has kept its reputation for being one of the best cold storage devices around. Trezor supported coins, apart from Bitcoin of course, include Bitcoin Cash, Stellar, and Litecoin. In fact, you can store most of the top cryptocurrencies on this single device.
Trezor price comes in at around $205, marking it as one of the most expensive options. However, with a stellar reputation for keeping the user’s funds safe, it might be well worth the investment for you.
A common question asked by many who are new to the crypto world is, is Coinbase a wallet? Coinbase is one of the best cryptocurrency exchanges, but the same company has released a standalone virtual wallet as well. In order to get the benefits of this wallet, you don’t need to open an account with the exchange, but you probably will as it offers you a convenient way to trade crypto directly from your wallet.
As a desktop and mobile wallet, Coinbase Wallet offers you a secure and user-friendly solution which is also completely free. Be aware, however, that this is a hot storage device, which means that your funds will be more prone to being hacked. That said, the company has one of the best reputations for keeping users and funds safe.
Coinbase Wallet accepts 100 different cryptocurrencies, including Bitcoin and Ethereum. Several digital tokens are also accepted.