If you are keen on making trades, earning profits on digital currency that is making rounds on the internet, then the first thing that you need is one of the best crypto wallets. Having a crypto wallet is like having your email, you need it to send cryptocurrency to other accounts and make transactions.
However, you can not just make an account on any crypto wallet that you see on the internet. Selecting a crypto wallet is serious business as due to any malfunction, or hacking due to a low level of security, you can lose all of your cryptocurrency in a matter of minutes. To save you from that pain and loss, I have listed all the 10 best crypto wallets that are brought used and loved around the globe and can be best for Pakistanis as well.
What are Cryptocurrency Wallets?
A Crypto Wallet is either a software or a form of hardware that is used to hold all forms of crypto assets. This wallet can be in the form of a device, software, or a program that provides account holders with public and private keys that they can use to make transactions with their cryptocurrency.
Top 10 Best Crypto Wallets
1. Coinbase Wallet
The first best crypto wallet that I have picked is the Coinbase Wallet, and this is truly the best crypto wallet to this date. The first great thing about this crypto wallet that makes it an amazing choice is that it has a very easy interface, which makes it easier to do several functions in the wallet. The easy navigation and simple interface of this crypto wallet is a major reason it is deemed the best crypto wallet for beginners.
Every novice who is using a crypto wallet for the first time should go for the Coinbase Wallet, it has a simple interface and it also offers a connection to multiple major bank accounts. The easier interface of this crypto wallet allows users to exchange and trade different crypto coins very easily. Moreover, this crypto wallet also allows its users access to decentralized exchanges. These exchanges help crypto wallet holder to convert their tokens much more easily.
In addition to that, this crypto wallet can store collectibles as well as NFTs, which is another reason why it is considered the best. Furthermore, this crypto wallet provides the perk of biometric identification such as Face scan and Finger touch ID, by using the Secure Enclave chip which is present in different phone devices. Moreover, you can also purchase all types of coins and tokens with this crypto wallet by using fiat money.
Another great perk of this crypto wallet is that unlike other types of crypto wallets, only the wallet holder has access to the private key. This makes the Coinbase wallet noncustodial as only the user has access to the private key, making it one of the best crypto wallets. However, the crypto coins that you will be stored on the Coinbase exchange will be custodial.
- Ideal for beginners
- Supports more than 11 coins
- Simpler interface
- Access to decentralized exchanges
- Hot Storage
- Offers free of charge cryptocurrency storage
2. Exodus Crypto Wallet
The Exodus Crypto Wallet is another one of the best options of hot storage crypto wallets. As this crypto wallet is hot storage, the coins and tokens present in your wallet will be stored online. However, the nature of this crypto wallet is non-custodial. Therefore, only you will have access to the wallet by a 12-word private key.
The Exodus Crypto Wallet is the perfect and ideal crypto wallet for PC users, especially Linux, Mac, and Windows users. The easy and simple interface of this crypto wallet makes it easier for the users to learn how to use it, and how to purchase and sell new coins.
What makes this crypto wallet ideal for transactions is that it is unified with the Exodus exchange. The number of cryptocurrencies this wallet supports is more than 145, including Bitcoin, Ether, Dogecoin, Litecoin, and Tether USD. Using the Exodus wallet does not cost anything, however when you use the Exodus exchange to make a transaction, then you have to pay a fee.
- Supports 145 cryptocurrencies
- Suitable for desktop users
- Simple interface
- Hot storage
- No transaction fee for sending or receiving
- Costs $119
Another amazing Crypto Wallet is Gemini. This crypto wallet has received so much love as it comes with a simple interface. The simple and easy-to-understand interface of this crypto wallet makes it easier for entry-level investors and beginners to use it. A really great feature of this crypto wallet is that it can be used by mobile users as well as PC users. Mobile users can get the app for free, the same goes for PC users.
In addition to that, this app allows users to set price alerts so every time there is a price surge or downfall, the wallet owner can find out quickly and make act accordingly. Furthermore, this crypto wallet is available all over the United States, in all of the 50 states. This crypto wallet supports more than 50 cryptocurrencies, so it is great for investing and trading.
Furthermore, Gemini has a hot wallet design; however, this hot wallet is backed up by insurance for digital assets. Along with insurance, there are plenty of other features that take the security of the Gemini Wallet to the next level. Account-holders can buy, sell and trade cryptocurrencies without the fear of their account’s privacy getting breached by hackers.
- For mobile and PC users
- Ideal for new investors
- 50+ cryptocurrencies
- Allows price alerts
- Insurance security
- Hot wallet
- 0.5% to 3.99%
4. Guarda Wallet
The Guarda Wallet is hands down the best cryptocurrency wallet in the market. The best feature of the Guarda Wallet is that this crypto wallet is highly secure as it comes with 2-factor authentication, a pin code, and multi-signature. The high security of this crypto wallet is the highlighting feature, and when you combine that with the non-custodial design, you get one of the best crypto wallets. The non-custodial design will not give access to the crypto assets to anyone other than the account holder.
In addition to that, this crypto wallet supports more than 1000 crypto assets which make it amazing for traders. You can easily use it to buy, sell and store different crypto coins and tokens. The overall simple design of the Guarda Wallet makes it ideal for beginners, as well as expert traders.
Furthermore, as the Guarda Wallet is a software wallet, you can easily access it through your smartphone, Desktop, web interface, and Chrome extension. However, despite being a software wallet, this crypto wallet does not give control of the private keys of an account to anyone other than the account holder. Moreover, downloading and using the Guarda Wallet is free of cost, however, when you want to use the exchange service of this app to make a translation, you will be charged 3.5%.
- Highly secure wallet
- Non-custodial design
- Software wallet
- Supports 1000+ assets
- Accessed via smartphone, and desktop
- Hot Storage
- 3.5% fee for exchange service
5. Electrum Crypto Wallet
Electrum Crypto Wallet is easily one of the best crypto wallets in the market. This crypto wallet has been designed specifically for the trading and exchange of Bitcoins, which makes it one of the best crypto wallets for Bitcoin. This crypto wallet offers a simple setup procedure that can be done in a matter of minutes. This crypto wallet has been around for over a decade as it was founded in 2011, which makes it one of the oldest crypto wallets.
In addition to that, this is an open-source software wallet that allows Bitcoin owners to easily trade, purchase and sell their Bitcoins. A really great feature of the Electrum Crypto Wallet is the high level of security this wallet offers. The advanced features of this crypto wallet make it a great fit for expert traders. Another great feature of this crypto wallet is that it is compatible with hardware wallets.
Furthermore, another great feature of the Electrum Crypto Wallet is that it allows users to select and adjust their wallet fees according to accordion to a timespan of a transaction. Moreover, this crypto wallet allows its users to select the light client option, which can be set up fairly quickly and also occupies comparatively less space on the PC. If you select Simple Payment Verification, it will allow you to complete the transaction quickly by only downloading the required parts of the wallet on your PC.
- Only for Bitcoins
- Ideal for advanced users
- Light client option
- Higher level of security
- Hot storage
- Custom transaction fee
6. Mycelium Crypto Wallet
Mycelium is another pioneer crypto wallet that has been around since the beginning of cryptocurrency. This crypto wallet is hands down one of the best crypto wallets out there due to its features. The first amazing feature of this crypto wallet is its level of security. The multiple pin layers offer high security to the account holders. The code of this crypto wallet can be duplicated so that the user can compare it with the original code. This will help find out any potential security threats.
In addition to that, another great feature of this crypto wallet is the transaction options. This crypto wallet offers its users 4 transaction options to its users that are low priority, normal, economic, and priority. Each transaction option has a custom transaction fee. The watch-only mode of this crypto wallet lets you keep a close eye on their own trades and stocks.
This crypto wallet is only available to mobile users, both iOS and Android users can make an account on this crypto wallet. Moreover, this app support Bitcoin, Ether, Tether USD, USD Coin, and Binance USD. Furthermore, another ease that this crypto wallet brings to the user is that it allows them to directly sell and buy Bitcoin in the app as well as purchase Bitcoins with fiat money.
- For advanced users
- Best for mobile users
- Has 4 transaction options
- Watch-only mode
- Hot Storage
- Custom transaction fee
What makes BlockFi one of the best crypto wallets is that this crypto wallet is available worldwide. It is not only for the US audience but also for traders and investors around the globe. With this top crypto wallet, the account holders will be able to trade and swap cryptocurrencies easily. Moreover, the funds can be retrieved by the account holder at any time.
A really great feature of the BlockFi crypto wallet is that when you make a BlockFi Interest Account and keep your cryptocurrency in it, you can easily earn compounding interest on your holdings. The interest rate ranges between 3% to 8.6%. Moreover, making a BlockFi Interest Account does not require any fee or charges.
In addition to that, another great feature of BlockFi is that it allows users the perk of automatic trading. The app lets them set their account to recurring trades. This is a great option for the account holders who do not spend every day on trading. The app will buy crypto coins for you either on a daily basis, a weekly basis, or a monthly basis, whichever settings you choose. Another great benefit of BlockFi is that it allows users to take a loan of up to 50% of the amount of crypto in their wallets. This helps the users to have money without trading or selling their cryptocurrency.
- For beginner and medium level investors
- Automatic trading
- Offers interest in holding
- Provides loans
- Available across the globe
- Hot storage
- No commission charges
8. Ledger Nano X Crypto Wallet
The Ledger Nano X Crypto Wallet is a hardware wallet, so it can be used on a mobile phone as well as a computer. This crypto wallet is a cold wallet which means it will keep all records of your transactions and your cryptocurrencies off the internet. This is a really big deal as it brings more safety to the table.
In addition to that, Ledger has added a Secure Element chip to this crypto wallet that greatly enhances the security of this crypto wallet. Another great perk of this crypto wallet is the wide range of coins and tokens that it supports. This crypto wallet supports more than 1800 different coins and tokens.
Furthermore, the designers of this crypto wallet have also incorporated the perk of Bluetooth in the design. Moreover, this wallet has a very simple and easy-to-navigate design. After connecting it to PC or mobile, simply add a pin and after that, a 24-word password phrase which will be your wallet’s private key.
- Supports 1800+ coins and tokens
- Hardware wallet
- Great offline crypto wallet
- Offers enhanced security
- For mobile and PC users
- Cold storage
- Costs 149$
9. Trezor Model T
Trezor has been around providing services to crypto account holders since 2011, but recently they have introduced their wallet the Trezor Model T. As this crypto wallet is a hardware wallet, it offers cold storage, meaning all of your data regarding cryptocurrency will be stored offline in the device, instead of on the internet.
In addition to that, a really good thing about this crypto wallet is that it comes with open-source software. So the user of the crypto wallet holders can get more protection. Trezor Model T supports more than 1600 different coins and tokens. Moreover, the crypto account holder can make transactions using the Trezor exchange in the Trezor Suite.
Furthermore, the Trezor Model T comes with a USB wire and a touchscreen, so the account holder can easily connect it to their PC or computer. The setup of the Trezor Model T is also pretty easy and straight forward which makes it a great fit for entry-level users. The account holder can add a pin and security password to the device which brings more safety to the overall design of this crypto wallet.
- Hardware wallet
- Open-source software
- Supports 1600+ coins and token
- Ideal for computer users
- Cold storage
- Costs $221
10. SafePal S1
SafePal S1 is one of the best crypto wallets present in the market, and the fact that this crypto wallet is a cold wallet makes it even more perfect. There will be no need to access your crypto wallet through the internet or keep your assets on the internet. The cold wallet design of SafePal S1 sees to it that asses of account holders remain safe.
In addition to that, this crypto wallet supports more than 1000 cryptocurrencies. Therefore, you will be able to trade, sell and buy all kinds of cryptocurrencies with this wallet alone. As this is a hardware wallet, you can easily carry it around with you, keep a close eye on your account and look out for price surges. Moreover, this crypto wallet is the first hardware wallet that comes with Binance backup.
Furthermore, this crypto wallet is 100% offline, and it comes with a flawless security plan which keeps all of the account holder’s assets safe and protected. Moreover, a nifty addition to this crypto wallet is the self-destruct feature. If the device’s sensors sense any virus in the system, they will activate self-destruct mechanism.
- 1000+ coins and tokens
- Self-destruct mechanism
- Comes with a Binance backup
- 100% offline
- Hardware wallet
- Cold storage
- Free of cost exchanges
- Cost $49.99
How Do Crypto Wallets Work?
Crypto wallets are needed for investors to sell, buy, swap, and trade all types of crypto coins. One account holder can send a crypto coin to another account holder through their crypto wallet. Whether you want to trade or sell any type of cryptocurrency, you need a crypto wallet for that. Trading and selling of a few coins can be done by PayPal, and other payment apps, but for holding and trading larger amounts, a crypto wallet is required.
A Crypto wallet is created with two strings of keys, a public key, and a private key. The public key is known to the account provider as well as an account holder. However, the private is only known to the account holder, not the provider. The public key is not only known to the account provider, but if you want to trade any crypto coins, you also need to provide the public key of your account to the other party for the transaction to be completed smoothly.
What is the most reliable crypto wallet?
The Coinbase Wallet is the best and the most reliable crypto wallet. This crypto wallet comes with many nifty features that make it ideal for investing and trading, especially for beginner investors. In addition to that, it supports many different coins and tokens, comes with biometric authentication that enhances the security of the accounts.
What is the best crypto wallet for bitcoin?
The Electrum Crypto Wallet is the best crypto wallet for Bitcoin. In fact, this crypto wallet is only used for trading, buying, and selling Bitcoin, it does not support any other cryptocurrency. This crypto wallet is cold storage, has a light client option, a higher level of security, and is ideal for advanced users.
Is it worth having a crypto wallet?
If you only want to purchase a couple of coins and then sell them, then you do not need a crypto wallet. However, if you are looking to invest your money in cryptocurrency and make trades, buy and sell coins privately, then it is best for you to have a crypto wallet.
Having a crypto wallet is as critical for investors as breathing. Without one of the best crypto wallets, every investor and trader can lose all of their money with a snap of fingers. I have shared a long list of the best crypto wallets that are famous all over the world, for a reason.