10 Best Cryptocurrency Wallets of 2023

A crypto wallet is a software or hardware application that stores your cryptocurrency. It is a crucial tool for purchasing, trading, and promoting cryptocurrency. Your private key and passwords are kept secure and readily available with crypto wallets. These wallet apps are quick, safe, and simple to use. Several crypto wallets offer methods to communicate with the blockchain. The demand for reliable and secure storage options is at an all-time high as the crypto market grows. For crypto investors, the digital currencies market offers various wallets like hot, cold, custodial, and non-custodial wallets.

The top 10 crypto wallets are listed in this article for you to explore in 2023.

01. ZenGo

It is a secure non-custodial wallet in Web3. The main feature of this wallet is that it removes the vulnerability of private keys, which makes the process of investing simple yet secure for cryptocurrency. Individuals can create their crypto wallet accounts in less than 60 seconds on ZenGo. It is also secured by encrypted biometrics.

The 3FA security provided by this wallet includes mail, recovery file, and face recognition. Alongside, it uses MPC cryptography so that users don’t lose access to their crypto. Clear sign firewalls make the whole user experience seamless.

Pros:

• Users can buy and sell from the bitcoin wallet itself
• The interface is easy to follow by everyone
• Provides effortless recoverability of private keys
• It includes multiple Dapps; users can discover them through wallet connect.

Cons:

• The range of cryptocurrencies in ZenGo is limited
• It is a partial non-custodial crypto wallet.

02. Coinbase

A perfect wallet for beginners to buy, sell, transfer, and digitally store currencies. It supports over 100 countries and 500+ crypto assets. All the crypto coins can be stored in one place in the Coinbase Wallet. The non-custodial wallet is beneficiary as it allows access to private keys.

These keys are easily accessible through a 12-word recovery phrase when someone signs up for their wallet. Other features of this wallet include 2FA, biometric logins, and AES-256 encryption for the digital wallet.

Pros:

• User-friendly interface which is easy to understand
• Supports multiple signatures and 2-factor authentication support
• There is optional support for cloud backup, which can protect your digital keys.
• Vault protection is there to store the funds with time-delayed withdrawals.
• Trading can be done by linking the bank account to the wallet easily.

Cons:

• Types of trade are limited in this wallet
• The transaction fee is high for the crypto coins

03. Binance

It is a central cryptocurrency exchange platform with particular crypto trading features like secure asset funds, personalized access control, and advanced data encryption. It was founded in 2017 by a software developer. Due to their $100 billion daily trading volume, they are trusted for their services.

They have a native coin BNB which ranks among the top 5 cryptos globally. Leading crypto features of the Binance wallet are auto-invest, staking, DeFi, Futures and Options, and P2P trades. They have a native coin BNB which ranks among the top 5 cryptos globally. Their security system is super safe; they ensure 2FA, management of devices, whitelisting addresses, and cold storage. Almost 95% of wallet coins are stored in cold storage.

Pros:

• It provides personal access control, restricting devices and addresses that can access your account.
• Transaction data security with end-to-end encryption is provided.
• There is a wide range of trading options and order types.
• The comprehensive charting feature provides an easy analysis to their traders.

Cons:

• The customer support system is off track.

04. Metamask

A popular cryptocurrency wallet that provides a blockchain application. The passwords and keys are generated in the device itself to keep them private. This wallet offers investors a key vault, token wallet, secure login, and token exchange for managing cryptocurrencies and digital assets.

While interacting on the new decentralized web, users always control their transactions through blockchain-based applications. Only a single user can access the account, improving data privacy.

Pros:

• Tokens can be exchanged from anywhere through a mobile wallet with its swap feature.
• Users can set the amount of transaction fee based on their requirement levels.
• At a granular level, users can fix the gas fees too.
• This wallet is integrated with the ledger devices.
• The feature of automatic account backup is a plus point.

Cons:

• Token’s support is for ERC 20 and Ethereum only.
• There is only one security concern which is the hot wallet.

05. SafePal Crypto Wallet

The main feature of SafePal is that it supports various crypto assets and well-known stablecoins. It is also an integrated wallet with Binance that makes the trading process easy. It is one of the best hot wallets, which is supported in 190+ countries.

The unique features like easy swap between multiple assets and in-app integration with mini-programs are helpful. With its decentralized applications, there is safety to your crypto wallet.

Pros:

• Users can interact with multiple Dapps.
• NFTs can be bought and sold across the whole marketplace.
• Vaults are secured with web 3 and private keys.
• The user interface is accessible with an easy-to-follow design.

Cons:

• Some latest cryptocurrencies are not supported in this wallet.
• The customer support program is limited.
• It is not that intuitive for beginners.

06. Trust Wallet

This wallet features a clean and scannable user interface. It provides built-in support for NFTs and dApps with multiple listed assets. Although Trust Wallet is connected to Binance, the private keys are not maintained there; therefore, users must take precautions to protect their keys.

Over 65 blockchains are supported, which allows users to store a wide variety of digital assets. Another wallet feature is a built-in Web3 browser for direct access to blockchain games and dApps. With their decentralized exchange, users can purchase or store tokens.

Pros:

• Interests are provided on 12 various cryptos.
• Multiple coins and token support systems.
• The interface is simple to use and has a built-in Web3 browser.

Cons:

• It is integrated with Binance, which has faced some regulatory issues in the U.S.
• Resources for educational coins and tokens are limited.

07. Ambire Wallet

This wallet is easy to sign up with an email and password, and the Ambire wallet can also be connected to hardware wallets. Insured safety is there as the wallet is open-sourced and audited. There are smart contracts with battle-tested features.

The Advanced visualization feature shows the transaction data in a more analytical format that avoids malicious attacks or human error. Funds are added to the wallet through multiple mediums like cards, banks, or wire transfers with few minimum steps.

Pros:

• Easy to connect with hardware wallets.
• Secure with 2-factor authentication and timely audits.
• It provides a built-in bridge to switch from L1 to L2.
• The network fee is payable in stablecoins.
• There are airdrop rewards in the form of tokens for holding funds in the Ambire wallet.

Cons:

• A mobile app extension is missing in this wallet.
• This wallet does not support hardware connectivity.

08. Edge Wallet

An advanced and secured hot wallet for crypto traders. Provides multi-asset support with a seamless transaction process among digital currencies. Edge wallet can protect crypto, digital assets, and passwords from hackers.

Its in-app buy-and-sell feature makes it easy for users to make transactions without any difficulties.

Pros:

• Assets are easy to manage from a secure crypto ecosystem.
• Backup can be restored through a username and password.
• Access can be gained through an app pin or biometric.

Cons:

• It allows multiple device login, which can be a security hazard.
• Fiat currencies cannot be held in-app wallets.
• There is no web support in Edge wallet.

09. Exodus

It is termed one of the multi-functioned wallet apps. The speed of its transactions, ease of use, and various functionality make it reliable for clients. Initially, it was only supported over desktops but then launched its apps on IOS and Android.

The major draw of exodus is that it supports 260+ crypto, which is very advanced compared to other hot wallets.

Pros:

• A customizable fee is there for transactions.
• It runs on simple payment verification rather than blockchain downloads.
• Compatible with Trezor hardware wallet.
• Users can buy bitcoin with Apple Pay.

Cons:

• There are high transaction charges on the in-wallet crypto exchange.
• 2FA is missing in the wallet, which may bother some users.
• Multiple signature support is not available in the wallet.

10. Electrum

Electrum provides a high degree of customization for features with extensive security support. It is one of the oldest crypto wallets that deals in bitcoin only. The security checkups of this wallet are robust and provide 2FA and proof checking of transactions with multi-signature wallet support.

It is an open-source wallet that can be integrated with hardware wallets too. Electrum wallet supports both SD and HD accounts; it uses SPV to speed up transactions without any damage to its security.

Pros:

• It is an easy and fast setup wallet.
• As compared to other hot wallets, the security is much superior.
• Users can customize the transaction fees.
• There is a server configuration that protects the wallet from downtime.

Cons:

• The interface is advanced and may not be ideal for beginners.
• Custom support is missing with this wallet.