Regardless of whether you’re a crypto investor or enthusiast, it’s a sure thing to say that you need a crypto wallet. Crypto wallets allow individuals to receive and make payments in the cryptocurrency of their choice.
So, if you’re looking to perform any transactions with cryptocurrencies, you’re going to need a crypto wallet. However, before you go rushing into things, here’s what you need to keep in mind:
The cryptocurrency market is highly volatile, and all activities are unregulated, meaning that prices can shift with little-to-no warning. Also, crypto hot wallets are a favourite target of hackers looking to steal cryptocurrencies.
Now that we’ve gotten that out of the way, let’s look at the best crypto wallet apps you need to download before 2022. But if you’re interested specifically in defi wallet only, you might want to check this article of Coinwire, it’s very detailed.
- Zero fees for sending/receiving cryptos
- Supports more than 100 types of cryptocurrencies
- User-friendly design
- Users are charged with a network fee
- No cloud storage
Without mentioning Exodus, a list of the best crypto wallets would not be complete. Founded in 2015 by JP Richardson and Daniel Castagnoli, Exodus is specially designed to provide users with a safe and easy method of storing their digital coins.
With Exodus, you get support for more than 100 types of cryptocurrencies, including Bitcoin, and you won’t have to worry about being charged fees for sending/receiving crypto payments.
It’s also free-to-use and features a simple, pleasant design, making it an excellent option for new users looking to get into crypto.
- Rotatable wallet address
- It comes with a selection of advanced features
- Solid safety track record
- Fast and responsive interface
- Failsafe to recover lost funds
- It can be challenging to use for newer users
- Not available for iOS devices
- Only supports Bitcoin
Electrum is the hot wallet for you if you perform transactions exclusively in Bitcoin. It’s packed with various advanced features that place a heavy emphasis on security.
For example, Electrum utilizes Multisig, aka multi-signature wallets that require an individual to provide two or more private keys to perform transactions, thus making Electrum one of the more secure options on this list.
But you should also know that Electrum may be difficult to use for new users, thanks to the sometimes-overwhelming customization options. Also, as Electrum only supports Bitcoin, this can be a bit of a turn-off for some users.
- Supports both crypto (Bitcoin and Ethereum) and fiat currencies (USD, EUR, and CNY)
- Integrated with Tezro’s anonymous messaging app
- Tezro store accepts crypto and fiat currencies
- Allows for seamless fund transfers
- It comes with a crypto exchange
- A limited number of cryptos supported
One of the newer entries on this list, Tezro, is both a secure messaging service and a crypto/fiat currency wallet.
Unlike most crypto wallets, Tezro makes it possible for users to perform transactions in both crypto and fiat currencies. Better still, the app also comes with its in-house store that sells just about anything, from NFTs to electronic goods.
As an added plus, Tezro wallet is equipped with a crypto exchange to enable users to buy/sell crypto with ease.
So, despite everything great about it, Tezro is still let down by the lack of support for other cryptos. While most mainstream cryptos like Bitcoin, Ethereum, and EOS are accepted, users of other altcoins will be disappointed.
Find out more about Tezro crypto wallet and other similar apps here: https://blog.tezro.com/best-crypto-wallet-apps/
- Proven track record of safety
- Supports most mainstream cryptos
- Implements multi-signature access
- Backed by Coinbase
- No cold storage
- User’s private keys are stored off-site
With a proven safety record and given the fact that the crypto giant Coinbase backs it, there’s no reason why you shouldn’t use Coinbase’s wallet. The wallet supports most mainstream cryptos and altcoins and implements multi-signature access for added security.
However, some may be put off by the lack of cold storage support which is a major no-no. Let’s also keep in mind that your private keys are probably stored off-site by Coinbase. All of which makes Coinbase unsuitable for more security-minded users.
And there you have it, a complete list of the best crypto wallet apps available right now. So, if you’re looking for a safe and reliable way to store your coins, look no further than the wallets that we’ve listed here.