Cryptocurrency is opening up all sorts of new possibilities. At the same time, it’s also creating the need for new tools like the cryptocurrency wallet or digital wallet. The emergence of crypto has helped catalyze the creation of the digital wallet or cryptocurrency wallet.
What is a Cryptocurrency Wallet?
A cryptocurrency wallet or cryptocurrency wallet is a platform that allows you to store and spend your cryptocurrency. At the moment, there are many digital wallets to choose from. With so many choices, it’s hard to know where to start. Hot or cold wallet? What’s most secure? The following information will help you select the best digital wallet or best cryptocurrency wallet for you. Here are the 12 best digital wallets:
12. Coinomi Digital Wallet
Pros: Good for beginners through experts
Cons: Fees and Complexity
Coinomi is a solid starting place for anyone looking to store cryptocurrency on a digital wallet.
This cryptocurrency wallet allows you to store a wide variety of cryptocurrencies and other digital assets. Most notably, Coinomi makes it super easy to store and spend Bitcoin, Ether, Dash, and more than 100 other forms of crypto.
It’s a relatively secure platform, although some of its code is allegedly an open source. It completes transactions quickly and supports cross-chain payments so you can send various types of crypto directly to bitcoin addresses easily.
Why we like it: Ability to store most cryptos
11. Copay Cryptocurrency Wallet
Cons: Coin diversity
Copay is a relatively new digital wallet, made by the producers of BitPay, itself one of the most well-known bitcoin wallets.
Building on the success of BitPay, this is one of the best digital wallets. It puts consumers in full control of their cryptocurrency. In particular, it includes a number of new security features so you can store your crypto with full peace of mind. Additionally, it is a fairly easy wallet to learn how to use. As a web-based digital wallet accessible from both desktop and mobile, Copay gives you lots of flexibility.
Not surprisingly, Copay only supports bitcoin and Bitcoin Cash. So, if you’re using a broader range of cryptocurrencies you’ll need to look elsewhere. If you’re exclusively a bitcoin user, you’ll probably enjoy using this digital wallet, especially since it’s backed by one of the more reliable names in the bitcoin universe.
Why we like it: Desktop & mobile friendly
Pros: Diverse features
Cons: Expansions not yet released
Eidoo is a strong option if you’re looking for a digital wallet. Already an impressive platform, Eidoo is poised to make a number of changes that could make it an even better digital wallet in the very near future.
For starters, Eidoo lets you store tons of different tokens and coins. It is particularly known and popular among consumers using Ethereum tokens. But even if you’re primary crypto is something else, Eidoo will most likely be compatible given the wide range of coins and tokens it accepts.
When Eidoo first launched in 2017, it could only be used on Android and iOS mobile devices. But earlier this year, the wallet expanded for use on desktops. The wallet is set to continue expanding in the near future. Next up, the company said they will roll out new features to facilitate exchanges between tokens with minimal fees.
All in all, Eidoo is definitely one of the best digital wallets. Whether you use Bitcoin, Etherium, or any other crypto, and whether you prefer using your mobile or desktop device, Eidoo has you covered.
Why we like it: Has future potential
Cons: Few coins supported
If you’re looking for a no-frills, workhorse digital wallet, Gatehub could be an excellent starting place. It is certainly one of the best digital wallets you can find.
This wallet allows you to store Bitcoin, Ethereum, Ethereum Classic, Augur, and a few others. Obviously, if you’re regularly using other coins or tokens, you’ll need to look elsewhere. But if these cryptocurrencies cover your needs, then Gatehub could be the wallet for you.
While it doesn’t come with all the features and capabilities of some of the higher-ranking wallets, Gatehub gets the job done. For starters, it uses industry standard security protocols. In particular, all your passwords are encrypted to the point that even Gatehub can’t access your keys or passwords.
Additionally, many users have positive things to say about the wallet’s built-in exchange platform. Finally, it also features some basic analytics tools that can definitely come in handy.
Currently, Gatehub is web only, making it perhaps not quite as mobile or flexible as some of the best digital wallets on this list.
Why we like it: Includes an exchange platform
8. Bitcoin Core
Cons: Excessive options
For many Bitcoin users, Bitcoin Core is the ultimate digital wallet.
This is a super robust wallet. In many ways, it is best suited for more serious bitcoin customers. For less hardcore crypto users, Bitcoin Core could become borderline overkill.
Bitcoin Core is best known for its hefty security protocols. It anonymizes everything that happens, which means that all your transactions and personal information, including your IP address, will always be protected. Additionally, the platform’s rigorous security features make it very hard for you to be scammed or defrauded in a transaction.
Bitcoin Core’s strengths are also its potential drawbacks. In particular, it sucks up a lot of bandwidth. In order to execute all its anonymizing and security functions, your device must always stay connected to the Internet.
Bottom line: this Bitcoin wallet is a powerhouse and it’s one of the best digital wallets on the market. But that also means it requires powerhouse level bandwidth.
Why we like it: Several advanced features
Pros: No middleman
Cons: Under construction
Altcoin.io is an interesting addition to this list of the best digital wallets. That’s because it’s technically still under development. But if programmers come through on their vision, this promises to become an excellent digital wallet.
Altcoin.io is working to become one of the best platforms for exchanging and swapping between various coins and tokens. For example, the platform completed its first Ethereum to Bitcoin atomic swap earlier this year. By the time the wallet is fully complete and live, expect it to offer extremely fast, easy, and affordable swaps.
Similarly, this digital wallet should be incredibly secure. That’s primarily because it is a decentralized crypto exchange. Instead of your coins being held by a middleman, your coins never leave your control. As a result, you will always know what’s going on with your currency, even if something happens to the platform itself.
Finally, Altcoin.io is being designed for compatibility with a broad range of currencies, tokens, and coins. This should make it even more accessible and user-friendly.
Obviously, the only bad thing at this point is that the platform isn’t yet finished being developed. But we suggest keeping your eye on it. Things appear to be progressing with this wallet. As soon as it becomes fully functional, it will probably be worth taking a closer look.
Why we like it: Future feature functionality
6. Blockchain Wallet
Cons: Few coins accepted
Right off the bat, Blockchain Wallet has a relatively user-friendly interface. It’s easy to figure out, which means you can quickly start using this digital wallet without having to spend too much time messing around with the platform.
Additionally, Blockchain Wallet offers good security. In particular, the program automatically generates a new address after each and every transaction. This gives you extra security and privacy.
With all that said, Blockchain Wallet is a web-based digital wallet. For some users, this isn’t great news, since anything on the Internet is arguably a bit more vulnerable to being hacked or otherwise compromised. But for most users, the security features built into this wallet should be adequate.
All in all, this is an excellent, easy to use digital wallet. Of course, it’s only going to be valid for customers using Bitcoin and Ether.
Why we like it: Extra security functionality
Pros: Widely accepted
With a range of security features and accepted at hundreds of vendors, Coinpayments offers consumers a particularly user-friendly digital wallet.
Coinpayments is a web-based cryptocurrency wallet. As is the case with other wallets on this list, anything on the Internet is vulnerable to the threat of being hacked. Fortunately, Coinpayments has implemented a number of robust security features. These include BitGo integration, giving customers a quick and secure way to execute transactions, and a strong vault feature.
For a lot of users, the most exciting aspect of Coinpayments is that it works with tons of different coins and tokens. This wallet is accepted at a large number of retailers and vendors. This opens the door for quick and easy crypto-based transactions.
Whether you’re just getting into crypto or you’re experienced with many different types of cryptocurrency, Coinpyaments is a solid choice.
Why we like it: User-friendly growing online platform
4. Edge Wallet
Pros: Great for beginners and day-to-day users
Cons: Lack of super advanced features
The makers of Edge Wallet originally launched a Bitcoin-only cryptocurrency wallet back in 2014. Now, they’ve completely overhauled their services to bring you the new and improved Edge Wallet.
Edge is a multi-currency platform that focuses on security and ease of use. The first thing you’ll notice when using this digital wallet is its user interface. Carefully designed to be intuitive and attractive, this digital wallet is incredibly easy to learn, navigate, and use. And because it accepts numerous different currencies, it’s accessible to a particularly wide range of crypto users.
Additionally, when it comes to security, Edge has you covered. It uses industry-standard authentication protocols and offers significant security for all your passwords and keys.
Ultimately, Edge Wallet is ideal for smaller accounts. In fact, that’s exactly what the makers of the wallet suggest. More serious investors or traders will probably want something a bit beefier, but Edge is among the best digital wallets for the bulk of casual, day-to-day crypto users.
Why we like it: Wide range of usability
Pros: Best known wallet
Cons: Lack of diversity
Coinbase is one of the largest and best known digital wallets anywhere.
This web-based digital wallet gives users a safe and secure way to store, trade, and spend their cryptocurrency. Coinbase is one of the most commonly used platforms and is known for being very user-friendly.
Making things even better, Coinbase is regularly updating and expanding. Most recently, the company announced new updates that will allow for immediate deposits, quicker purchases, and higher daily limits.
At the moment, the main currencies supported by Coinbase are Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. If you want a user-friendly, widely recognized, and reliable digital wallet, check out Coinbase. Simply put, it’s one of the best digital wallets.
It might not have all the bells and whistles or hardcore tech features of other wallets, but it’s been perfectly designed for the huge majority of crypto consumers.
Why we like it: Made for the masses
Pros: Extremely secure
Cons: Premium membership model
Jaxx is an accessible, easy to use, and flexible digital wallet that gives users plenty of options.
The wallet stores and protects all digital assets. Not surprisingly, this includes a broad range of cryptocurrencies as well.
Known for strong security, even Jaxx cannot ever see your information. With this wallet, your information is saved directly to your personal device.
This wallet is especially user-friendly. Because it accepts a wide range of coins, tokens, and currencies, pretty much any crypto user will benefit from using this wallet. If you’re a more serious crypto user, you can always pay for the upgrades that come with being a premium member. Even if you don’t go this route, Jaxx is well established enough to give you the security and ease of use you need.
When it comes to mobile platforms, Jaxx is one of the best digital wallets. Given its experience storing and protecting all sorts of digital assets, it knows exactly what crypto users need and want from a digital wallet.
Why we like it: Accepts several coins securely
1. Exodus Cryptocurrency Wallet
Pros: Will turn a rookie into a pro
Cons: No two-factor authentication
Exodus has been making a big splash since it showed up on the cryptocurrency wallet scene back in 2016.
The biggest and most widely celebrated aspect of Exodus is its design. This digital wallet is one of the most attractive, aesthetically minded, and user-friendly cryptocurrency wallets.
The digital wallet’s design features a huge range of visual aids, including charts, graphs, and a host of personalization features. The Exodus wallet is very versatile. Its user interface can be picked up quickly by experienced crypto users. At the same time, it offers features to help people newer to the world of crypto and digital wallets. New user tutorials and a generally intuitive design will have rookie crypto customers executing transactions like a pro in no time.
While this wallet is a serious standout in the design and user experience arenas, it has a couple potential drawbacks. The first is that it’s currently a desktop only wallet. The second is that it doesn’t utilize two-factor authentication.
Taking all this into consideration, Exodus is still at the top of our list of the best digital wallets. In particular, it supports dozens of currencies and has made itself supremely usable to rookies and veterans alike.
Why we like it: Visually pleasing with complete customization