As cryptocurrencies continue to grow as an emerging financial medium, blockchain businesses aim to provide an easy, accessible, and secure method of dealing with decentralized assets. Crypto wallets are now a common term to describe digital hot or cold storage accounts where users can keep their crypto and other digital assets safe.
The crypto wallet market has exploded over the past few years and is predicted to reach a total market value of $61.87 billion by 2030. With additional funding, media attention, and public demand, leading blockchain brands have begun to launch wallets for their audience.
In this article, we’ll review the top crypto wallets currently in the space, commenting on:
Trezor – Best Hardware Wallet
Kresus – Best for New Users
Coinbase Wallet – Best for Coinbase Users
Metamask – Best for User Features
Trust Wallet – Most Popular
Let’s dive right in.
Trezor – Best Hardware Wallet
The Trezor wallet is a hardware wallet that gives users an accessible way of taking their cryptocurrency offline. The cold approach to cryptocurrency wallets has grown more popular over recent years, with Trezor being one of the names leading this charge. They offer a range of models, including the newest Trezor Model T.
Trezor supports over 8,000 coins and tokens, making this wallet useful for traders who are likely to deal with lesser-known currencies on a daily basis. All transactions through Trezor occur offline, providing an additional layer of protection for users who are concerned about crypto hacks and exploits.
The cheapest Trezor model starts around $69, while the most expensive is $219, making this a wallet on the more costly end of the spectrum.
For users who prioritize security above all else, Trezor is an attractive option.
Kresus – Best for New Users
Kresus offers cutting-edge security, user-first feature optimization, and curated picks from the Web 3 industry to help you on your journey into blockchain technology. They focus on helping new users onboard into Web 3, providing guidance, advice, and a devoted community at every step of the way. And, with a zero-fee off-ramp feature, this is a great wallet to get started with.
Another draw of the Kresus application is that it guarantees that users never get locked out of their cryptocurrency. Even if a user were to lose their email account, the Kresus application puts safeguards in place to empower its user base with complete control. As a self-custody crypto and NFT wallet, Kresus has a number of features that allow users to get more from their crypto.
What sets Kresus apart is its devotion to creating a streamlined user experience. An easy-to-follow sign-in and registration process allows users to get started and access their crypto in minutes. Whenever a user encounters a question or problem, they can navigate to the comprehensive educational module page to learn more.
As a great balance between hot and cold options, Kresus is a user-friendly wallet that demonstrates one of the best entries into this market segment.
Coinbase Wallet – Best for Coinbase Users
Coinbase is one of the leading cryptocurrency exchanges on the market, with their integrated wallet allowing users to easily integrate with their current trading accounts. With the Coinbase Wallet, users can store, manage, and organize all of their digital assets in one location.
Coinbase offers extensive support for cryptocurrency tokens, including new drops and dApps that are fresh on the scene. You can use the wallet to gain access to a number of DeFi initiatives, including staking, yield farming, and NFT trading.
The prolific name behind this wallet is its leading strength, with its rapid integration into existing Coinbase accounts making it easy to set up. However, users should note that Coinbase was recently in the news for complaints by the U.S. Securities and Exchange Commission. The uncertainty around the future of the platform calls gives many users some hesitancy.
For users who already have a Coinbase account and want an easy transfer, this wallet is a great selection.
Metamask – Best for User Features
Metamask is one of the crypto wallets with the largest community followings, clocking in at over 30 million total users. There are hundreds of DeFi projects under the Metamask umbrella, providing users with access to all their favorite dApps and assets.
The wallet itself comes in two formats, either as a browser extension or a mobile app, allowing users more flexibility over how they engage with their cryptocurrency wallet. They aim to align with the decentralized nature of blockchain to provide a truly user-led experience. With this comes a range of DeFi features, like staking and yield pools.
While not the strongest candidate on this list in terms of security, the extensive range of features that Metamask offers is an advantage for certain users.
Trust Wallet – Most Popular
Trust Wallet is Binance’s response to the crypto wallet industry, offering a comprehensive option for users who want a balance of everything. Trust Wallet is currently the most popular wallet on the market, having over 70 million users. The platform holds over 10M+ assets and 600M+ NFTs, spread across 100 different blockchain networks, making it an expansive choice.
The platform offers a mobile app and web extension, giving users more flexibility in terms of how they approach their cryptocurrency. On either platform, you can swap currency, stake crypto, explore NFTs, and buy new coins in seconds.
Trust Wallet places trading at the forefront of its app, allowing users to track prices throughout the day. However, for more forgetful users, the lack of a pathway to recovery wallets via customer support might be a disadvantage.
Trust Wallet is a great option for users who want a Jack of All Trades crypto wallet.
Final Thoughts
As a direct way of securing digital assets against fraud, theft, or other cyber threats, crypto wallets have rapidly become a core part of the blockchain ecosystem. The brands on this list represent the very best that’s come out of the market segment, offering customers a comprehensive system that stores and protects their digital assets.
Depending on what you’re looking for, the best cryptocurrency wallet for you may vary. While some wallets focus on comprehensive platforms with steep learning curves, others provide a streamlined user experience.
Whichever one you opt for, you’ll be in great hands with any of these five leading crypto wallets.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.