What Are the Best Crypto Wallets For 2022 and Beyond?
The crypto market is expected to hit USD 2.2 billion by 2026, with the global demand for digital currency higher than ever. In the wake of what’s to come, savvy investors, Fortune 500 companies and beginners alike are all finding new and exciting ways to invest, trade and store the widest range of digital assets.
And, just as all physical assets are stored to accumulate value over time, so too does your digital portfolio need a secure and multifunctional wallet to keep your cryptocurrency safe.
Below, you’ll find our pick for the top five crypto wallets.
What are the Best Crypto Wallets
As with all things in life, you need to do your research. Understanding how crypto wallets work is just the first step. It also all comes down to company reputation as well Before signing up for, or purchasing a wallet, see what the crypto community at large has to say about it. Read existing customer comments and opinions on Google Play, CoinDesk, TrustPilot, and the like. Go through product reviews done by industry experts, such as Investopedia, Forbes, BlockChain Bites, and others.
Look for the wallets that have a built-in trading/conversion platform attached to them with a proven track record. Lock tight, encrypted security is a must, as well as the ability to store multiple cryptocurrencies at the same time. All of the top wallets will have backup features attached to them, providing an additional layer of security (especially for onsite storage). Lastly, the best cryptocurrency wallets are compatible with multiple devices or operating systems and will adhere to all leading industry standards.
Remember that the top cryptocurrency wallets can either store cryptocurrencies online (via hot wallets) or offline via hardware wallets (or cold wallets).
Cold Crypto Wallets Vs. Hot Crypto Wallets
“Hot” or digital wallets are online wallets connected directly to the internet. These usually form part of a greater crypto trading platform and are designed to store cryptocurrencies for a short to midterm timeframe, with the intention to sell or exchange when the market changes.
Hot Wallets: Digital and free to use
While digital (or “hot”) wallets are (mostly) free to use and easy to navigate, they run the risk of being compromised. If you’re planning to store large crypto sums for the long run, it’s much safer to keep your investment offline in a hardware wallet.
Cold Wallets: Hardware-based and more secure
Hardware (or “cold”) wallets may not be as easily accessible for everyday use, but they are far more secure. They store your crypto keys offline in a secure hardware device, resembling a USB, or portable hard drive. While they can still receive incoming payments, they’ll need to be manually accessed to transfer any funds out of them.
With a cold and hard recap done and dusted, let’s dive into our pick for the top cryptocurrency wallets for 2021 and beyond.
What are the Best Crypto Wallets for 2022
Starting with cold wallets, at US$59 (or around €50), the Ledger Nano S comes in at half the cost of the recently launched Ledger Nano X and, with a host of essential features, is a top choice for new to interim traders/investors.
Ledger Nano S
Released back in 2016, the Ledger Nano S is one of the most trusted hardware wallets on the market today. With encrypted security protocols and a sleek and stylish design, the Ledger Nano S supports over 1000 different cryptocurrencies and Altcoins.
The Ledger Nano S is able to seamlessly integrate with a host of leading cryptocurrency exchange apps. This speeds up manual approval, allowing transfers and transactions to go off from your wallet in real-time.
While the next generation Ledger Nano X has more features and a higher resolution screen, the original Ledger Nano S is just as effective as it ever was, while coming in at a much more affordable price tag.
Some of the Top Features of the Ledger Nano S crypto wallet include:
Lock tight Storage: The Ledger Nano S stores your cryptocurrency in an isolated environment, with a unique pin code. This greatly limits the chance of any personal or account-related information being compromised.
Backup Seed: A built-in backup seed (or phrase) ensures that your account is always safe. This 24-word phrase will store all the information needed to recover your account information in case of loss or damage.
Display Features: A built-in display allows you to check and confirm incoming and outgoing transactions straight from your device
Multiple Cryptocurrencies: The Ledger Nano S is able to store around 107 cryptocurrencies and more than 1000 different tokens, stable coins and altcoins, including, Bitcoin (BTC), Tether (USDT), Dogecoin (DOGE), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Cardano (ADA), Tron (TRX), Dash (DASH), Neo (NEO), and many more.
Trezor Model T
The Trezor Model T is the next generation for top-end cryptocurrency storage. With cutting-edge security and a host of built-in features, the Trezor Model T is a go-to cryptocurrency wallet for interim and advanced crypto traders and investors alike.
The wallet is able to hold over 1600 different crypto assets, storing and securing its user’s private keys straight from the device itself. Well built, and stylish, the device is known for its high storage capacity, touchscreen navigation and ease of use. The Trezor Model T retails for around US$170 (or €144).
Some of the top features of the Trezor Model T crypto wallet include:
Encrypted Key Storage: The Trezor Model T carries cutting edge security protocols, where a set of digital keys grant users access to their account and transactional data. These keys are stored safely and never leave the device, ensuring the wallet is backed up to the fullest.
Touchscreen capability: An easy-to-navigate, intuitive touchscreen is able to speed up and streamline verification and approval of all cryptocurrency transactions.
Password Manager: The Trezor Model T password manager ensures that each accounts’ passwords are individually locked. Once a user has physically confirmed their identity and given permission, these passwords are then unlocked one by one.
Cryptocurrency storage: This wallet has the ability to store over 1600 crypto assets, including
Bitcoin (BTC), Ripple (XRP), Bitcoin Cash (BCH), EOS, Litecoin (LTC), Tether (USDT), Tron (TRX), and many more.
Developed in 2016 by the global trading platform Shapeshift, the KeepKey is one of the most trusted cryptocurrency wallets in circulation, delivering robust and multifunctional offline storage for a wide range of digital assets.
Perfect for beginners and advanced users alike, the wallets’ stylish, minimalist design has a built-in display screen for easier navigation, while its integration with Shapeshift allows users to exchange a host of different cryptocurrencies directly from the wallet itself. KeepKey also retails at a reasonable $US49.00 (or €41).
Some of the top features of the KeepKey crypto wallet include:
Multiple Supported Cryptocurrencies: The KeepKey wallet supports the storage and exchange of various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Dogecoin (DOGE), Litecoin (LTC) and more.
Integration with Shapeshift: As mentioned, the KeepKey wallet is also directly integrated with the Shapeshift exchange platform. This means that a multitude of different cryptocurrencies can be exchanged directly from the wallet itself.
Backup and Recovery: The wallet generates a 12-word recovery sentence that you can use if you ever need to retrieve your private keys. This ensures your digital assets stay safe in the event of loss or breakage.
User Navigation: The KeepKey scores high in terms of its user-friendliness, and its large display screen and sleek design are easy to get the hang of in the shortest possible time.
From cold to hot, here’s two of the best online (digital) wallets making moves in 2021.
Exodus is at the top of many people’s list of crypto wallets, compatible with both desktop and mobile. Its straightforward interface allows for easy set-up and platform navigation. The Exodus wallet comes with a built-in exchange platform and is currently able to store around 100 or so different cryptocurrencies.
One potential drawback is that the wallet's source code is not open to the public. This means that a fair amount of trust must be placed on the Exodus team to ensure a user's account remains safely guarded at all times. The platform is entirely free to use and registering an account is simple.
Some of the top features of the Exodus wallet include:
Supported Cryptocurrencies: The Exodus Wallet can store around 100 different cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tron (TRX), Bitcoin Cash (BCH), EOS (EOS), Ripple (XRP), and more.
Live Portfolio Tracking: The Exodus Wallet comes with live charts & portfolio tracking capability, alerting you to any spikes or dips in your portfolio.
Mobile Integration: Users are able to exchange crypto in just a few clicks with the Exodus Desktop App.
Established back in 2014, Coinomi is one of the first multichain wallets to have ever been brought to the market. Used by millions of crypto enthusiasts across the globe, the Coinomi wallet has stood the test of time, supporting over 125 different blockchains and thousands of different tokens, all housed on one single platform.
As far as the best cryptocurrency wallets go, Coinomi offers cutting-edge online security, with multi-seed backups, encrypted user IP addresses and lock tight data protection. Its features include instant exchanges, quick purchases and a wide range of partnerships that streamline inter-currency transfers. The wallet is also entirely free to use, with the only requirement being to sign up to the Coinomi platform.
Some of the top features of the Coinomi Crypto Wallet include:
Simple Setup: Registering a Coinomi Wallet is simple. The wallet itself is easily downloaded off of the Coinomi homepage and can be fully installed and ready to use in a few clicks.
Enhanced online security: The wallet adheres to the highest security standards. Users are given a unique set of seeds (or phrases) when setting up their wallets. These seeds come with their own encrypted settings, ensuring your online assets are never compromised. Additionally, the site itself does not store any user data, ensuring complete privacy.
Integrated Currency Exchange: The Coinomi Wallet is directly integrated with its sister trading platform, meaning the exchange of any online assets is straightforward, efficient, and can be done directly from the wallet itself.
Multi-language support: The Coinomi support team is available around the clock, with one of the fastest response times of any online wallet. Their team speaks over 25 different languages, ensuring communication remains a top priority.
Supported Cryptocurrencies: Coinomi supports a massive list of over 1770 crypto assets, including Bitcoin (BTC), Ethereum ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Tron (TRX) Ethereum Classic, Dash, NEM, ZCash, Doge (DOGE), Decred, Bitcoin Gold (BTG), Algorand, MonaCoin, Horizen, and a whole lot more.
With our recap of the best crypto wallets done and dusted, all that’s left to do is find the one that works for you.
All the best on your journey to digital freedom and remember to check out the Bitcasino.io blog for more leading cryptocurrency news.