A cryptocurrency wallet refers to a tool created to store, manage and transfer crypto token funds. Which style of crypto wallet serves you best?
Cryptocurrency wallet explained
Firstly, the best crypto wallet has very little in common with wallets, in the traditional sense: no assets are kept directly inside the Bitcoin (BTC) wallet, neither in their classic form nor as binary code.
What is a crypto wallet
A cryptocurrency wallet (crypto wallet, Bitcoin (BTC) wallet) represents a special class of computational frameworks or physical device able to authorize blockchain-based transactions. In a nutshell, it may send, receive, and operate the digital assets. The best crypto wallet reliably secures keypairs to protect crypto investments.
How to get a crypto wallet
People obtain software crypto wallets by activating an account (web client, cloud storage) or through the installation of the crypto wallet software on a desktop or portable computer. Also, the best crypto wallet could be developed manually, but this requires professional skills in Python coding.
Holders also create ‘Hard’ wallets by setting up a digital gadget (hardware) and printing a keypair on paper or by engraving it on a metal plate.
How to transfer crypto to my crypto wallet
When a crypto wallet is active, the user has its public key. The blockchain uses this to identify the unique address of the token holder. Everyone who has a public key can authorize a crypto remittance to a certain address with the sum and the name of the token required. The confidentiality of the private key is of crucial importance, the unveiling of which would put the users’ riches at risk.
What is a hardware crypto wallet
Hardware crypto wallets constitute a high-end class of electronic gadgets that consist of a core processor, touchpad and display. It defends the integrity of keypairs and authorizes blockchain transactions. This gadget needs a USB or Bluetooth connection to your computer in order to process operations.
What is a software crypto wallet
A software crypto wallet refers to a computational environment utilized to operate your tokens. Typically, it represents an in-browser cloud interface or downloadable program. The most secure crypto wallet develops the keypair and allows the token holder to store it in extreme confidentiality. Typically, the best crypto wallet in this class allows traders to conduct multi-chain token conversion.
Hardware vs Software crypto wallet comparison
Hardware crypto wallet
Software crypto wallet
What is it?
Is it secure?
May vary from low to very high
How much does it cost?
Starts at $49
Typically, you can download one free of charge
Is it too sophisticated for non-CS users?
Some software wallets have very sophisticated UX/UI
Mostly, it's designed for...?
Hodlers with low diversity in their portfolio and a big sum of savings
Daily and weekly traders with a well-diversified portfolio and a medium amount of savings
Best Software Cryptocurrency Wallets in 2020
The best software cryptocurrency wallets have intuitive UI/UX, a high level of security and powerful functionality.
Blockchain.com cross-chain wallet is a veteran of this market as it was proudly presented in 2011. As of today, it has been downloaded 47 million times. This giant operates $200 billion in USD equivalent. It gained popularity as a Bitcoin (BTC) wallet, but the communities of Ethereum (ETH), Bitcoin Cash (BCH) and Stellar Lumens (XLM) can also enjoy its functionality. Also, it has block explorers for Bitcoin (BTC) and Ethereum (ETH) blockchains.
Coinbase is the second mogul of our industry. It was established in 2012 in the U.S. by Brian Armstrong and Fred Ehrsam. It pioneered the sphere of direct credit card deposits. Now it supports the crypto king as well as altcoins: Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Eos (EOS), Tezos (XTZ) and its native stablecoin USD Coin (USDC). Furthermore, it delivers processing services to corporate entities.
Opera portable computer crypto wallet is a pioneering native browser app for iOS and Android devices. The flagship currency, Ethereum (ETH) and Ethereum-fam ERC tokens are in its toolkit. This solution allows Opera to support online payouts in cryptocurrency, to browse Ether-based dApps and to send money between wallets.
The Vexel team delivers a one-stop-shop ecosystem for crypto remittances fueled by fiat gateway. Besides the flagship coin, Ethereum (ETH), Bitcoin Cash (BCH), Dash (DASH) and Litecoin (LTC) are welcome. Visa and Mastercard transfers are supported with reasonable fees (1.2%). Users can operate their funds through both mobile and web apps as well as with a Telegram bot. Unique ‘Vexels’ (anonymous cryptocurrency vouchers) allow merchants to build a ‘Blockchain-as-a-Service’-powered payment system for their B2B and B2C entities.
Bitamp is a unique client-side wallet focused on the privacy of users’ keys. It doesn’t store users’ money nor keys. Bitamp requires neither KYC nor registration. This wallet allows users to transact in a decentralized manner with no risk of tracking, hijacking or freezing funds by the product team or government.
Bitamp can also serve as a recovery tool for other popular wallets, including Ledger and Trezor. It has a built-in feature for importing private keys, so if a wallet goes offline, Bitamp can serve as an excellent emergency kit. Also, Bitamp has an intuitive interface that makes it particularly attractive for newbies.
Try Prizm, a one-size-fits-all multi-blockchain software wallet with a web client, crypto wallet app for Apple, Windows and Android OS. Prizm processes the flagship currency and nine major altcoins including its native PRIZM (PZM). Prizm wallet is characterized by an attractive interface: it allows users to launch numerous accounts in a single click, to generate a remittance QR-code. The Prizm team created a cutting-edge security toolkit: Face ID, Touch ID, seed phrases.
Guarda Wallet is one of the most secure crypto wallets: 45 high-demand protocols and tons of tokens are on board. It works as a multi-platform crypto wallet app and Google Chrome plug-in. A full range of operations with Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Litecoin (LTC) and many other types of assets are on Guarda Wallet's services. Guarda Wallet integrates the Ledger hardware wallet (see below - U.Today) and pioneered multi-sig authorization of Bitcoin (BTC) transactions.
Best Software Cryptocurrency Wallets in 2020 Compared
Custodial / non-custodial
Web client, mobile crypto wallet.
Native BTC and ETH blockchain explorers
Web client, mobile crypto wallet
Operations for corporate clients
First browser with a built-in wallet
Web client, mobile crypto wallet, Telegram bot, desktop apps
Telegram bot, anonymous crypto vouchers
Web client, mobile crypto wallet, desktop apps
Paramining passive income program
Web client, mobile crypto wallet, desktop apps
Multi-signature authorization of BTC transactions
|Bitamp||2020||Web client, mobile apps coming soon||Non-custodial||Emergency key recovery tool|
Best Hardware Cryptocurrency Wallets in 2020
The best hardware crypto wallets ensure the most secure crypto wallet safety for meaningful crypto savings. If this class of electronic instruments seems attractive for your strategy, look through our detailed guide on hardware wallets.
Ledger Nano X
Ledger Nano X is a high-end gadget with 100+ applications on-boarded that accesses a wide range of currencies. One of the most secure crypto wallets in this market, Ledger Nano X supports 1250+ ERC-20 tokens and all of the behemoths you may need - ‘digital gold’, the second blockchain, XRP, Bitcoin Cash (BCH), as well as Stellar Lumens (XLM) and EOS.
Trezor Model T
Trezor Model T was announced by Satoshi Labs in 2018. Equipped with a high-res color touchscreen display, its interface is strikingly different from all competitors. This device is the perfect storage for Bitcoin (BTC), Litecoin (LTC), Dash (DASH), Ethereum (ETH), Bitcoin Cash (BCH), XRP, Monero (XMR) and Cardano (ADA).
Trezor ONE crypto hardware wallet represents the initial stage of Trezor devices announced six years ago. Bitcoin (BTC), Litecoin (LTC), Dash (DASH), Ethereum (ETH), Bitcoin Cash (BCH) and a plethora of Ethereum-based ERC-20 altcoins can be easily accessed by its users.
Ledger Nano S
Ledger Nano S crypto hardware wallet tracks its history back to June 2016. Ledger Nano S works with Bitcoin (BTC) and all of the most-demanded altcoins: Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Dash (DASH). It merges the performance of 3 - 7 applications to process the assets of top-demanded blockchains simultaneously.
Simply put, the best hardware cryptocurrency wallets are those from the industry leaders, Ledger and Trezor. Ledger Nano X and Trezor Model T are first-choice tools for the ‘old hands’ while their smaller brothers, Ledger Nano S and Trezor ONE offer more common solutions for the average Joe.
Top 20 cryptocurrency and Bitcoin wallets in 2020
- Blockchain.com is an ‘old but gold’ wallet for Bitcoin (BTC) and Ethereum (ETH). It powered native explorers for the first two blockchains.
- Coinbase.com was the first in the sector to enable crypto purchasing via credit cards. Also, The services work with corporate entities.
- Opera is a unique built-in browser-based wallet. It also supports dApp surfing with ERC-type tokens.
- Vexel is a multi-task wallet and crypto conversion ecosystem operated through a Telegram bot and issues anonymous crypto vouchers.
- Bitamp is a decentralized client-side wallet for Bitcoin (BTC) that also serves as an emergency recovery tool for other sorts of Bitcoin (BTC) wallets.
- Prizm produces a high-performance multi-currency wallet built around native PZM digital assets. It has an unmatched approach to security and a user-friendly interface.
- Guarda Wallet is a non-custodial product designed for 45+ protocols and tokens. Besides that, TRX staking and BTT rewards are implemented.
- Ledger Nano X is a Bluetooth-operated hardware Bitcoin (BTC) and crypto wallet. It can process dozens of blockchain applications and conduct transactions of all major coins.
- Trezor Model T is a cutting-edge crypto hardware wallet by Satoshi Labs with a high-quality LED touchscreen that supports all of the crypto behemoths including XRP, Monero (XMR) and Cardano (ADA).
- Trezor ONE is a first-gen hardware wallet powered by a reliable processor, Cortex M3. As its UI is intuitive, it perfectly suits newbies.
- Ledger Nano S can operate between 3 to 7 of the most demanded protocols (Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Dash (DASH)).
- Atomic Wallet is a multi-currency wallet, decentralized and anonymous. It also acts as a staking environment with passive income offers for holders of PoS-based altcoins.
- BRD is a simple Bitcoin (BTC) mobile crypto wallet. BRD utilizes every device's built-in hardware encryption to keep users’ funds safe.
- Crypterium crypto wallet app solves the issues of mainstream adoption of Bitcoin (BTC) transactions as it uses SMS for blockchain remittances.
- Enjin is an ecosystem powered by Enjin Coin (ENJ), an Ethereum-based protocol for seamless cross-chain interactions.
- Exodus wallet is a high-tech project, oriented for privacy geeks. With the Exodus mobile crypto wallet, Face or Touch ID conveniently secure all assets.
- Lumi Wallet is a multi-currency crypto software wallet with built-in exchange options. Some altcoins can be bought directly into Lumi Wallet, e.g. MKR, USDC, OMG, ARN, etc.
- Luno Bitcoin (BTC) software wallet was launched in 2013 by a South African company. Recently, it enabled multi-signature authorization for some types of tokens.
- Lykke crypto software wallet enables interoperability between credit cards, wire transfers and digital assets in a decentralized manner.
- Takamaka performance is powered by a native blockchain and has development tools for Java devs to build dApps atop it.
15 Popular Bitcoin Wallets in 2019
And to close this list off, here is the digest of the top crypto wallets U.Today prepared one year ago:
- BRD Wallet
- GreenAddress Wallet
- Ledger Nano S