|Coinbase||Best for beginners|
|Exodus||Best for desktop users|
|Electrum||Best hot wallet for Bitcoin users|
|Mycelium||Best app wallet|
|Ledger Nano X||Best offline wallet|
|Trezor Model T||Best cold storage wallet|
Cryptocurrencies have been around now for years and the investors in crypto around the world are increasing considerably. These cryptocurrencies need to be stored in safely, so a best crypto wallet is essential for trading, storing, buying and selling of Bitcoin and other cryptocurrencies.
Crypto wallets are mostly preferred by traders and investors in cyrptocurrencies to store them safely as well as protect and validate information of transactions. These wallets are either hardware or software for hot and cold storing, these best and safe custom crypto wallets offer their traders dedicated solutions than crypto exchange.
With a number of platforms claiming to be the safest to invest and hold cryptocurrencies, how can you choose which is best and safe crypto wallet for you in 2022. New investors in this stream may not be tech-savvy and have complete knowledge about cryptocurrencies and wallets. One thing all investors should be aware of is the safety offered by the wallets by providing personal crypto key and access to your crypto holdings.
To save your time for researching for an ideal crypto wallet, we have listed some of the best and safe considered crypto wallets for 2022.
Top 6 best crypto wallet for 2022
Coinbase wallet is one of the best and safe crypto wallet for beginners, with little or no experience with crypto, it is backed by a well-known exchange. Coinbase app connects easily to most of the bank accounts and gives an user friendly interface, which has a three-tab layout and identifiable functions.
Coinbase supports more than 500 crypto assets and allows you to store NFTs and other digital tokens. It can be used without opening an account with one of the largest cryptocurrency exchanges. The private password of the wallet is stored in your device, and not in the server of Coinbase which avoids locking your digital assets due to any reasons or exposed to a cyberattack on the website.
Supports more than 500 digital coins
User friendly interface
2 factor authentication
Available only on mobile and tablet devices
Exodus is a best and safe crypto wallet for desktop users, it is the fastest wallet in terms of transactions with an ease of use. Exodus has a visually appealing user interface with live charts, this was developed as a desktop only crypto wallet. But now Exodus has apps for IOS and Android allowing its users to buy cyrptocurrencies using through Apple Pay.
Exodus is a good choice for new crypto investors with a low bar for entering, it supports more than 150 cryptocurrencies, built-in exchange and 24/7 customer support. Even though if it offers mobile wallet, desktop wallet application is still a core wallet offering from Exodus which is updated in every 2 weeks.
Allows users to buy Bitcoin using Apple Pay
24/7 customer support
Fastest transactions execution
Transactions fees are high
The best hot wallet for Bitcoin users with its extensive security and high degree customization, Electrum is one of the oldest and popular crypto wallet in our list. Electrum was founded in 2011, is the most well-known crypto wallets today for simplifying the lives of Bitcoin users.
Electrum wallet has a variety of security features that other wallets lack. Its users have the flexibility for adjusting transaction fees depending on how long they are willing to wait for the transaction to be executed – more fees and your transaction will be completed faster.
Electrum uses lightweight client, which makes setting it up faster and occupies less space than traditional wallet on your system. Using the Simple Payment Verification (SPV) it only downloads part of blockchain thus speeding up the transactions still keeping the security intact.
Secure than other wallets
Faster to setup
Flexible transactions fees
Supports only Bitcoin
Mycelium is another Bitcoin focused wallet founded in 2008, well-known on strong security and advanced transaction history. Mycelium was developed as a mobile-only app wallet, and still continues to be best option for Android and IOS users.
This wallet also provides flexibility like the Electrum for transaction fees based on four levels – low priority, normal, economic and priority and has several different types of user accounts. It also offers hardware wallet support for users to store their Bitcoin in cold or offline wallets.
Other than Bitcoin, Mycelium also supports Ethereum and ERC – 20 tokens.
Cold storage compatibility
Supports offline transactions
Supports limited cryptos
Ledger Nano X
Propably the best and safe offline crypto wallet for 2022, Ledger Nano X supports a number of cryptocurrencies with highly secured mobile trading capabilities. One of the well-known hardware wallets in the market gaining popularity with its first crypto wallet, the Ledger Nano S is a featured pack.
Ledger Nano X is an extension of the Nano S’ success added with a built-in battery and features such as Bluetooth connectivity and efficient asset management. The hardware wallet is priced at $119, has a matte black finish featuring a 128X64 pixel screen for navigating through apps.
The Ledger Nano X wallet supports more than 1800 token & coins, the largest in this list also allows to manage up to 100 coins simultaneously on the device. By turning on the Bluetooth connectivity Nano X can be accessed through the Ledger Live app on Android or IOS device to exchange cryptos.
Secure design to protect private keys
Can be accessed on mobile via Bluetooth
8 hours batter life
Expensive than other cold wallets
Trezor Model T
Another best and safe cold storage crypto wallet for 2022, Trezor Model T is enabled with the highest possible level of security. Trezor Model T can be an ideal choice for those investors who want to store their digital assets offline.
This wallet is an upgraded version of the previous Trezor One wallet with updated key features and a touchscreen which makes it inherent to use. The Trezor Model T is highly priced at $190 and is the first hardware wallet in our category which supports Shamir Backup, or even higher recovery support. This makes it easy for users to recover their entire wallet if they lose their device.
Higher security levels
Data recovery feature
Touchscreen allows to access faster
How important is crypto wallet
Cryptocurrency wallets are just like traditional wallets, but unlike paper currencies these wallets hold digital currencies. These wallets store public and private keys to provide digital signature authorisation for validating each transaction. These wallets can be a device, program, online website or an app, it can be a service offered by the crypto exchanges.
A crypto wallet allows you to buy, trade and sell cryptocurrencies, the wallet address enables the digital currency to transferred in your control. Mostly these wallets are password protected, some also offer other security features like encryption or two-factors authentication, etc.
Types of best and safe crypto wallets
The most important factors of a cryptocurrency wallets if security and utility, always a pick a wallet with a high level of security and which suits you digital habits.
Hot Wallets vs. Cold Wallets
Hot wallets are online wallets connected to the internet, whereas, cold wallets are the offline coin storing wallets. You can opt for a hot or a cold wallet depending on the security and the accessibility of your digital assets.
Hot wallets can be easily accessed on daily basis, but this makes them more risky and exposed tot eh web. Cold offline wallets are less riskier and can be used to store large amounts safe.
These wallets access your digital currencies through the internet, these type of wallets are ideal for making small transactions. Avoid using these wallets for moving large sums, you can purchase small portion of Bitcoin thorough online wallet and then move it to cold storage wallet for keeping it secure.
These wallets are similar to the online payment apps such as Apple Pay or Google Pay. Mobile cryptocurrency wallets enable you to make trades and transactions with a few taps. These types of wallets also leave your key exposed to the internet but it is just tied to a single device reducing the risk of getting it stolen.
Mobile wallets can be used making payments with cryptocurrencies in stores, though this payment methods are not accepted worldwide, thus limiting the benefits of the wallet.
A software wallet but access primarily from home or private connection, making it more secure than mobile software wallets. A cold desktop wallet has very less chances of getting stolen as a cold mobile wallet.
These wallets have risk of exposure when connected to the internet, but some cold desktop wallets provide encryption security features. A desktop with a VPN connection can increase the security even more.
Hardware are designed to be more accessible to you alone taking care of many concerns in paper wallets. These types of wallet are one of the best and safe crypto wallets with digital storage solutions for 2022 and designed to survive decades to come.
The information on the hardware wallet is never exposed to the internet, which makes them a great cold option. But the biggest risk with using hardware wallets is locking yourself, but now there are wallets that offer multiple accessibility options for reducing the risk.
Best and safe crypto wallet for 2022 FAQs
Q. Which is the best cheapest crypto wallet?
A. Considering the pricing, there is not a single factor which decides the price of the wallet. There are transactions fees involved which vary depending on the exchanges used for trading. These fees are also flexible in some wallets for transaction priority.
Q. What are the best crypto wallets?
A. A best and safe crypto wallet is a blend of security tools and easy user interface for operating conveniently. While choosing a wallet hot or cold check the customer support service on priority and it should be at a reasonable cost. The best recommended by us is Ledger, Exodus, Coinbase and Electrum.
Q. How to buy crypto wallet?
A. Crypto wallets can be either purchased from the official websites of the brands or they can be bought from third party sellers as well like Amazon, we have given the purchase links above.
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