The 10 Best Bitcoin and Crypto Wallets

Cryptocurrencies like Bitcoin have been around for more than a decade and they are here to stay. They’ve moved beyond a niche investment to the mainstream in the past few years. And as cryptocurrency continues its march toward the mainstream, and becomes more entwined with the global economy, sooner or later you’re going to need a place to store yours. Companies including Microsoft, AT&T, and Paypal now accept Bitcoin and other virtual assets as forms of payment, and Bitcoin prices have surged to more than $55,000 as of April 2021.

If you’re looking to invest in Bitcoin or any other cryptocurrency, you’ll need a wallet. You’ll need to pick an investment app that lets you buy crytpo (Coinbase, SoFi, Webull, Kraken, and Robinhood all let you trade cryptocurrencies) as well as a “wallet” to store and secure your private key code for accessing your assets.

Given that we’re talking about digital currency; “wallet” is a metaphor. As a secure place to store your proof of ownership, a cryptocurrency wallet can take the form of physical hardware or software installed on your computer or smartphone or in the cloud. Well-known services like PayPal, Venmo and Robinhood allow you to purchase Bitcoin and other cryptocurrency quickly and with little technical know-how. Most of these online services, and their integrated wallets, are custodial, however, which means you’re trusting the company to secure, protect and hold your cryptocurrency. Ultimately, they have control — and your crypto is in their proverbial hands.

As such, unless you’re making a daily crypto transaction or have only a modest amount of money involved, we recommend you not store your cryptocurrency in an exchange account. The best practice is to invest in a hardware wallet for offline storage. The next best choice is a noncustodial software wallet or wallet app, which give you more control over your digital assets.

Cryptocurrency wallets offer online or offline storage for your personal crypto key, and are usually available in the form of “hot” wallets or “cold” wallets. (Hot wallets are used for online storage, while cold wallets provide offline storage through hardware and external devices).

We’ve compiled some of the best Bitcoin wallets for storing your private key code below. (Bitcoin is the most popular cryptocurrency, but note that many of these Bitcoin wallet picks also support Ethereum, Litecoin, and multiple other cryptocurrencies.) But first, let us consider some frequently asked questions before we take you through our top wallets.

WalletPriceCompatible Hardware
Safest Option and Best for Beginners
Coinbase Wallet
See CoinbaseNo
Jump to Details
Best for Desktop Users
None (Exodus receives 2-5% spread on asset exchanges)Yes
Jump to Details
Best for Mobile-only Users
Jump to Details
Best Hardware Wallet
Ledger Nano X
Jump to Details
Best for Security
Trezor Model T
Jump to Details
Best for Advanced Users
Jump to Details
Best for Beginners and Android Users
Shift Crypto
NoneJump to Details
Best for Mobile Storage
Trust Wallet
NoneJump to Details
Best for Bitcoin-only Investors
$119.97 one-time fee for Coldcard walletJump to Details
Best for Value for your Money
Ledger Nano S
Jump to Details

13 FAQs About Bitcoin and Crypto Wallets

What Is a Bitcoin Wallet?
A Bitcoin wallet is a place that stores your digital Bitcoin and validates your transactions when you’re using your Bitcoin. A wallet keeps secret information, called a private key or a seed, which is used to validate transactions and “sign” them so that your Bitcoin can be used to make purchases or exchanged for another asset. This prevents someone else from using your Bitcoin or the transaction being altered by a third-party.
Often when people refer to a Bitcoin wallet they are actually referring to a crypto exchange that offers a wallet as part of their account features. In this sense, the wallet is just the place where all of your cryptocurrencies are kept, or where you can keep fiat money for future use.
How Does a Bitcoin Wallet Work?
A blockchain is a shared public ledger where all Bitcoin transactions are conducted, from Bitcoin wallets. When a transaction occurs, there is a transfer of value between more than one Bitcoin wallet. Typically, a single party is exchanging some value of Bitcoin for another asset or service with another Bitcoin wallet. When this occurs, every individual Bitcoin wallet will use its secret data to sign and validate transactions, providing mathematical proof that the buyer or seller is the owner of their Bitcoin wallet. Your wallet can safely keep as much Bitcoin as you’d like without any limit.
Do I Need a Bitcoin Wallet?
If you are a beginner, then you are probably storing your cryptocurrency at an exchange like Coinbase, which is ideal for small amounts. However, it is preferred that you get a bitcoin wallet if you plan to expand your funds.
A Bitcoin wallet is a software application in which you store your Bitcoins. However, bitcoin does not exist in any physical shape or form. Bitcoin can’t technically be stored anywhere except coin wallets. This type of software is easy to use and reliable while also being secure and fast.
The reason why bitcoin wallet is preferred lies in the amount of security offered by it. Having a cryptocurrency wallet means that only you can access your digital currency. Moreover, you will have a private access key to your wallet that only you will know.
Lastly, storing digital currency on a third-party website makes it vulnerable to thefts and hacks. Therefore, a bitcoin wallet ensures unmatched security and protection of funds.
Do I need a Crypto Wallet?
This is similar to the question above. If you want to invest in cryptocurrency, you should invest in a wallet. That noted, if you’re just dipping a toe, services such as PayPal and Robinhood allow you to buy a coin or fractions of a coin and store it on their servers. These are custodial wallets, however, where you don’t hold the private key. We recommend noncustodial wallets for long-term cryptocurrency users and investors.
Are Bitcoin Wallets Worth It?
This depends on how much security you’re looking for. Crypto wallets were created to protect your private key and crypto assets against security breaches. While most wallets give you complete custody over your coins, not all cryptocurrency exchange platforms do (and custody doesn’t always guarantee complete security).
If you’re looking for external storage for your assets, cold wallets (offline storage chips) are probably the best option for you. Hot wallets could be a better fit if you prefer online software storage.
How Do I Use a Bitcoin Wallet?
If you’re interested in securing your cryptocurrencies with a Bitcoin wallet, you’ll first need to create an account with your desired platform. Most non-custodial wallets (wallets that you hold complete custody over) offer downloadable software that you can use to secure your private key and crypto assets.
However, if you’re using a hardware wallet, you’ll likely need a USB cable to connect to your platform’s external storage chip. Once you’ve created your account, connected the necessary devices or downloaded any required software, you’ll be able to transfer over any existing crypto assets.
Do I Need a Crypto Wallet to Buy Bitcoin?
You don’t necessarily have to set up your own Bitcoin wallet to store your assets. Some crypto exchanges — like Kraken, Coinbase, and CEX.IO — offer their own wallets to users. The difference between these platforms, though, and the Bitcoin wallets mentioned above is mainly one of security and custody.
If you’d prefer to have complete custody or control over your money, you’ll probably need a non-custodial Bitcoin wallet. Unlike most crypto exchanges, these stand-alone wallets give you absolute control and security over your crypto assets. With the crypto exchange wallet, the exchange itself would still have some level of control over your assets.
How Much Money Do I Need to Open A Crypto Wallet?
It depends. Hardware-based wallets generally cost between $100 and $200, though many software-based wallets are free. Most don’t require you to actually own any cryptocurrency.
Which Wallet is Best for Beginners?
If you’ve never used cryptocurrency before, we recommend Coinbase Wallet. Coinbase is a well-known, US-based crypto exchange that’s easy to use, and it works well with Coinbase Wallet.
Which Wallet is Best for Advanced Users?
Today’s cold storage wallets can be quickly and easily connected to the internet for fast transactions, so most advanced users nowadays are probably most interested in a cold storage wallet. The hardware wallets sold by Ledger and Trezor are both good options.
What Are the Risks?
Cryptocurrency is subject to far less regulation than conventional investments and securities. While the lack of oversight is an attractive feature to some investors, it’s important to know that Bitcoin and other cryptocurrencies are highly volatile, experience dramatic price swings on a daily or even hourly basis and lack many of the protections of other forms of investment. The risks are significant.
Are Assets in Crypto Wallets Insured?
While the companies offering crypto wallets may offer some guarantees to customers and users, the Federal Deposit Insurance Corporation does not currently insure digital assets like cryptocurrency. That noted, the environment is evolving and many government agencies, including the FDIC, are gathering information and considering legislation for the future.
What’s the Safest Crypto Wallet?
Cold storage wallets are generally thought of as a more secure way to store cryptocurrency when compared to a hot storage wallet. If you plan to store a large amount of coins or tokens for any length of time, we recommend using a cold wallet.

The Top 10 Bitcoin and Crypto Wallets for 2021

Coinbase Wallet – Safest Option and Best for Beginners

Wallet TypeHot Wallet
Pros and Cons
Buy and sell any digital currency
Keep track of them in one place.
Supports iOS and Android devices.
Schedule trading on a daily, weekly, or monthly bases.
Stores your funds in a vault for safety purposes.
Get $5 in free Bitcoin for signing up

If you’re new to crypto, the Coinbase Wallet is a good place to start. It can be downloaded as an app for Android or iOS, the interface is intuitive and the wallet is fully integrated with the company’s exchange, which makes it easy to conduct transactions — including purchasing coins and tokens with traditional currency.

With Coinbase crypto wallet, you can purchase, sell, transfer, as well as store digital currency. It makes it easy to trade well-known cryptocurrencies from Bitcoin to Dogecoin, and has its own Visa-backed debit card that integrates with Apple Pay and Google. It also securely stores a wide range of digital assets in offline storage. The Company went public in April and is the best known exchange in the US. The platform also supports more than 100 countries.

Unlike the company’s exchange, the Coinbase Wallet is noncustodial; that means that only you have access to your wallet’s private key, which is generated with a 12-word recovery phrase when you sign up. Note that there’s a difference between storing your cryptocurrency on Coinbase’s exchange, which is custodial, and the wallet, which is not. But the integration between them makes it fairly simple to transfer funds back and forth.

Exodus – Best for Desktop Users

Wallet TypeHot Wallet
FeesNone (Exodus receives 2-5% spread on asset exchanges)
Pros and Cons
Desktop and mobile wallet
Trezor hardware access
Exodus crypto apps and live charts
100+ crypto assets
24/7 support

Closed source software

Exodus offers cryptocurrency exchange services for desktop, mobile, and hardware crypto wallets. Exodus’ account features also include live charts and portfolio data, 24/7 customer support, a built-in exchange, and more than 100 cryptocurrency assets.

It is a hot wallet, which means that your assets are stored online; but it’s noncustodial, which means that only you have access to your private key — a 12-word password phrase that protects access to your crypto assets.

The Exodus wallet is designed to run on Mac, Windows and Linux computers, though there’s a companion app available for Android and iOS devices. The desktop user interface is slick and easy to learn. Your wallet is seamlessly integrated into the Exodus exchange, so it’s easy to make transactions.

Exodus supports more than 130 types of cryptocurrency including Bitcoin, Ethereum, Tether USD and Dogecoin. But the exchange has some noteworthy limits: If you want to purchase crypto with US dollars and store it in the Exodus wallet, you’ll need to first purchase the asset on a centralized crypto exchange, such as Coinbase, and then transfer the assets to Exodus. The app version allows purchases of Bitcoin with USD. And once you have an asset in your wallet, it can be easily exchanged for other supported assets. While the wallet itself is free to use, Exodus charges a fee for transactions made via its exchange.

Hot storage wallets are generally considered less secure than cold storage wallets, and some Exodus users may eventually want to upgrade to cold storage. The good news: Exodus is fully compatible with Trezor’s One and Model T hardware, other popular Bitcoin wallets.

If you want, you can also manage your assets using both Exodus and Trezor. You don’t need to use multiple wallets, but some users might prefer having multiple wallets as an additional security measure for their assets.

Exodus and Trezor’s partnership caters to those who prefer hardware security since you’d be able to securely manage your assets offline while simultaneously using the Exodus platform. Exodus typically receives 2-5% on each asset exchange, but the firm generally doesn’t charge you any fees to use its software.

Exodus mainly caters to hot wallet (software) users. It may not be suitable for the hardware-minded traders, unless you plan to use a Trezor device with the app.

Mycelium – Best for Mobile-only Users

Wallet TypeHot Wallet
Pros and Cons
Bitcoin with advanced storage
Spending and savings accounts
In-app exchange and trading
Customisable transaction fees
Inter-wallet operability
Open-source software

Mobile only
Confusing for a first-time user

Mycelium has been around since the beginning of the crypto era, and the Mycelium wallet is one of the oldest and best-known Bitcoin wallets. This is a mobile-only wallet — there is currently no desktop version — that supports both Android and iOS.

The Mycelium wallet has an appealingly simple interface but it supports fewer kinds of crypto than others profiled here: You can send and receive Bitcoin, Ethereum and ERC-20 tokens such as Tether USD, USD Coin and Binance USD — but not the hundreds of esoteric coins that have been developed over the past few years. You can buy and sell Bitcoin directly in the app, and Mycelium lets you buy Bitcoin with regular fiat currency.

The Mycelium wallet is noncustodial, so you’ll have sole access to your private key and PIN. This wallet is also the only hot storage wallet on our list that’s completely open-source. Though there are security advantages in that, it also comes with limited tech support options; basically, if you get stuck, you can submit a help ticket to the email address listed at the bottom of the webpage.

For more advanced users, Mycelium supports QR codes, allows you to set custom transaction fees and offers compatibility with hardware wallets from Trezor, Ledger and KeepKey.

Mycelium’s customer support is primarily available through email.

Ledger Nano X – Best Hardware Wallet

Wallet TypeCold Wallet
Pros and Cons
Ledger Live has an intuitive and convenient user interface
Stores up to 100 different apps
Open-source software
Community support
Convenience of Bluetooth connectivity

Bluetooth integration a potential vector of cyber attack (USB is still an option)
Bluetooth feature not perfected
Limited wallet storage

In July 2020, Ledger experienced serious hacks that revealed detailed customer information including names, phone numbers, email addresses, and even home addresses in some cases. Though this does not affect people’s private keys, it has led many to question the integrity of Ledger’s internal security measures.

The Nano X is Ledger’s second-generation cold storage wallet. The integrated Ledger Live platform, which is easy to learn and use, supports more than 1,800 coins and tokens including Bitcoin, Ethereum and XRP. The wallet can be connected to your computer via a USB cable and Android and iOS mobile devices via Bluetooth — a connection the Model T lacks.

The device is sturdy and features a small LED screen. To start, you’ll set up a PIN, then a 24-word seed phrase. The seed phrase acts as your wallet’s private key. Just like other wallets, as long as you keep the private key safe, you won’t lose your crypto assets — even if you lose your wallet.

It’s important to note that Ledger suffered a data breach in July 2020, which resulted in the theft of some customers’ personal data — but, significantly, not their crypto assets. No private keys to wallets were taken, but there were reports of customers receiving phishing emails and other scamming threats afterwards. That noted, Ledger has long been a trusted name in the crypto world, but the data breach is a good reminder to be careful online — especially when it comes to dealing in crypto assets.

Trezor Model T – Best for Security

Wallet TypeCold Wallet
Pros and Cons
Web-based user interface with exchanges built-in
Massive list of supported cryptocurrencies
Open-source software
Community support

Higher price point than others
Small touchscreen for typing
Confusing for a first-time user

Trezor, like Ledger, is a name synonymous with crypto cold wallet storage. Its new user interface, Trezor Suite, was just released recently, replacing the company’s Wallet Web app. But Trezor has been around for quite some time, established back in 2011 as a subsidiary of Czech-based SatoshiLabs.

The $190 Model T is Trezor’s second-generation hardware wallet, and it comes with many of the same features as the Ledger Nano X, detailed below. One major difference is that Trezor’s software is completely open-source, which affords some additional protection — theoretically, at least: The code that powers the wallet is available for scrutiny, and, the thinking goes, sunlight is the best disinfectant.

Trezor Suite is designed to run natively on your desktop, which generally provides greater security than a web-based app, though you can also access Trezor Suite through the company’s website. Trezor wallets currently support more than 1,600 coins and tokens, and you can make transactions directly in Trezor Suite with the company’s integrated exchange. 

Shaped like an old-school stopwatch, the Model T comes with a touchscreen and a USB cable to connect to your computer; it also features a microSD card if you want to add encrypted storage directly to your hardware wallet. It does not feature Bluetooth support, however — an omission that some security advocates prefer, as Bluetooth connectivity could be an attack vector for hackers to exploit.

Electrum – Best for Advanced Users

Wallet TypeHot Wallet
Pros and Cons
Cold storage
Add-ons supported
Exportable private key
Compatible with Ledger, Trezor, and Keepkey

Bare-bones user interface
Only works for Bitcoin
No customer support

Launched just two years after Bitcoin was created, Electrum specializes in private key encryption and two-factor authentication. Like Exodus, Electrum is a hot wallet that gives you online encryption for your crypto information.

Electrum verifies that all of your Bitcoin transactions are in the Bitcoin blockchain, and its Multisig feature allows you to spend Bitcoin between multiple wallets. Electrum also supports other wallets, including Ledger, Trezor, and Keepkey.

In addition, Electrum says it offers several interfaces that you can use on mobile, desktop, or with its command line interface. However, with its cold storage offering, you can sign transactions from an offline computer, according to its website.

What to look out for: Electrum doesn’t offer traditional phone customer support. However, the company provides helpful information in its documentation and FAQ sections, it offers a Reddit support page, and it allows you to ask questions on Another thing to note is that, while Electrum supports other wallets, it only allows for Bitcoin transactions. This may be a downside for those interested in exploring other cryptocurrencies.

Shift Crypto – Best for Beginners and Android Users

Wallet TypeCold Wallet (Hardware)
Pros and Cons
Bitcoin-only hardware storage
1500+ cryptocurrencies

With Shift Crypto’s BitBox02 hardware wallet, you can store your crypto private key and manage any assets offline through an external chip. The first version of the BitBox02 wallet supports Bitcoin, Ethereum, Litecoin, and more than 1,500 other cryptocurrencies.

But Shift Crypto also provides a Bitcoin-only edition. This version could be a great fit for you if you’re only looking to store Bitcoin. It relies on Bitcoin-only firmware and offers compatibility with the BitBoxApp, Electrum, Specter, and Sparrow.

The BitBoxApp gives you desktop access. Shift Crypto stopped selling its other product — BitBox01 — in 2019.

If you’re a fan of mobile access, you’ll only be able to use Shift Crypto on Android devices.

Trust Wallet – Best for Mobile Storage

Wallet TypeHot Wallet
Pros and Cons
Open Source
Secure access
Multicoin support
Earn interest
Credit card exchange
Decentralized apps 

No desktop support
Outdated interface
No documentation
Issues with cashing out

Businesses and individual users use this crypto software wallet product in an assortment of industries, including financial services, accounting, and software development.


  • Secure access: The vendor supplies you with a private access key, ensuring that you’re the only person that can gain access to your sensitive financial assets.
  • Multicoin support: There are many cryptocurrencies available today, and Trust Wallet supports a large number of them. It allows you to purchase, sell, and swap different coins, blockchains, and other digital assets, delivering full cryptocurrency management functionalities.
  • Earn interest: The program helps your coins work for you by staking your assets with a flexible interest rate. The program provides you with a validated proof-of-stake (PoS) certification that allows you to begin collecting interest on your digital resources, which means that they will continue to earn you money on their own.
  • Credit card exchange: A lot of cryptocurrency exchanges make it somewhat challenging to purchase cryptocurrency. Trust Wallet addresses this by allowing you to easily buy crypto with your credit card so that you can quickly begin to trade.
  • Decentralized apps (DApps): Trust Wallet comes with a helpful DApps browser that helps you find other businesses and vendors that accept cryptocurrency for their goods and services.

Unlike the other wallets mentioned above, Trust is solely for mobile storage.

If you’ve got a smartphone, you can download the wallet on iOS or Android devices.

While Trust lets you store, purchase and exchange crypto, it also allows you to earn up to 130% APR through crypto staking.

But the wallet may not be the best choice for desktop-minded users.

Coinkite – Best for Bitcoin-only Investors

Wallet TypeCold Wallet
Fees$119.97 one-time fee for Coldcard wallet
Pros and Cons
Bitcoin-only coldcard wallet
Compatibility with various crypto wallets
Ultra-secure hardware wallet
Affordable product
Initial set up is easy

Larger than most hardware wallets, which makes it less portable 
Uninteresting design
Non-responsive customer support
Cumbersome wallet usage in offline mode

Coinkite makes several crypto hardware wallets that offer external security for crypto investors, but its coldcard wallet could be particularly suitable for Bitcoin-focused traders. Its Bitcoin-only coldcard wallet signs your crypto transactions to keep your private key offline. 

The wallet — which is available as a specialized chip and numeric keypad — is also compatible with the following crypto wallets: Bitcoin Core, Electrum, BTCPay, Specter-Desktop, Wasabi, Fully Noded, Unchained Capital, Casa, BlueWallet, and Coldcore.

Coinkite’s other offerings include Opendime, BlockClock Mini, Seedplate, Coldpower, Coinkite terminal, and Bitcoin server.

Keep in mind that the coldcard wallet is an external, offline crypto storage device. If you’re looking for online storage, you’ll need to consider other options.

Ledger Nano S – Best Value for your Money

Wallet TypeCold Wallet
Pros and Cons
Access to Ledger Live
Secure storage for a low price
Open-source software
Community support

Max storage of three apps
No wireless Bluetooth feature

As one of the first hardware wallets ever made and the first generation hardware wallet introduced by Ledger, the Ledger Nano S is compatible with 1500+ cryptocurrencies. The Nano S does not come with a USB type-C cable, so users with more modern smartphones may have trouble connecting to their devices.

The Nano S is essentially the same as its successor, the Nano X, minus a couple of features. Both support the same list of cryptos and have access to the Ledger Live software. Unlike the Nano X, Nano S lacks Bluetooth connectivity, and it only stores up to three apps versus the 100 that can be simultaneously stored with Nano X.

The Nano S only has enough storage to make wallets for a limited number of cryptocurrencies at a time. If you were to delete an app in order to add another type of cryptocurrency, their online guide says it will not affect your assets.

The deleted wallet, and crypto within it, can still be seen in Ledger Live, but the wallet will not be seen on the Ledger device itself. This means that if you would like to send or receive to the wallet you have deleted, you may have to delete another wallet to make more room.

That said, at just $59, the Ledger Nano S is a fantastic wallet for those looking to store their cryptocurrency safely for a fair price. It is also quite easy to use with Ledger Live, making it an ideal product for a beginner looking for safe and simple storage for a handful of cryptocurrencies.

9 thoughts on “The 10 Best Bitcoin and Crypto Wallets

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