Best Crypto Wallets (2021)
However, you may be stuck on choosing which device is best suited to keep your crypto safe.
The options can be quite overwhelming.
That's why we've compiled this list of the best crypto wallets in 2021 to help you make the right decision and keep your crypto safe and sound.
Let's get started...
List of the Best Crypto Wallets in 2021
Most crypto wallets get the job done. Some are just much better than others. Here's our list of the best wallets today.
Ledger Nano X
With a PIN code and a recovery phrase to retrieve in case of theft or loss, Ledger Wallets are quite easily one of the simplest and most famous non-custodial hardware wallets out there.
Their chip design is robust enough to resist complex cyber-attacks along with maintaining their own operating system.
You can also use the Ledger Live App to directly buy, receive, send, or stake your crypto.
Ledger Nano X
- ⭐ Install up to 100 crypto applications
- ⭐ More than 1500 coins and tokens supported
- ⭐ Dimensions & weight Size 72mm x 18.6mm x 11.75mm Weight 34g
You can use multi-sig systems from third-party open-source tools like Lily Wallet, Casa Wallet, Electrum, or Caravan with the Ledger hardware wallets.
Their Nano X, starting at $119, can secure and store more than 1500 tokens.
All you have to do to get started is using the Ledger Live exchange integration, which can help you stake, manage, buy, secure and send crypto assets that you already own. Without a doubt, the Ledger Nano X is the best crypto wallet in 2021.
Trezor’s Model T is also among the most successful and best crypto wallets in the market, which offers a convenient magnetic docking mechanism and multi-signature protection.
You can operate it using third-party desktop platforms like Exodus Wallet, Electrum, Magnum Wallet, or Blockstream Green, or you can use a PC with Trezor Suite to connect to the wallet.
Trezor Model T
- ⭐ Supports all major computer operating systems
- ⭐ Supports more than 1000 coins
- ⭐ Dimension & Weight: Size: 64 mm x 39 mm x 10 mm (2.52 in x 1.54 in x 0.39 in) Weight: 22 g (0.77 oz)
This hardware wallet is quite simple to use and really friendly for beginners.
You can get swift setup times, intuitive touch UI, MicroSD backup option, and in-app guides.
All you have to do is connect this multi-sig, open-source wallet to your PC and download the BItBoxApp that is available for all PC operating systems like macOS, Linux, and Windows.
With BitBox's impressive features it's not hard to see why it's ranked as one of the best crypto wallets in 2021.
- ⭐ Supports Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and ERC-20 tokens
- ⭐ Easy backup and restore on microSD
- ⭐ OLED display and invisible touch sensors
It has third-party additional support from wallets like HWI, MyEtherwallet, Electrum, Specter, etc. Its services are Bitcoin-specific and can support more than 1500 ERC tokens as well.
Established in 2010, Coldcard is another open-source crypto wallet that will deceive you as a calculator in disguise the first time you see it.
It has a MicroSD backup mechanism and is strictly a Bitcoin wallet only.
Along with backup, it offers numerous duress solutions like lockout timers, decoy wallets, and pins.
- ⭐ Open source
- ⭐ Bitcoin only
- ⭐ Very easy to use
Coinkite is one of the oldest crypto companies in the digital market. It ensures that its wallet stays up to date with the latest security protocols and protection systems to establish it as one of the most secure options for you to store your Bitcoins.
It doesn’t support any other cryptocurrency at the moment.
Other useful options from Cointake are the OPENDIME and SEEDPLATE.
Why Do You Need A Crypto Wallet?
Cryptocurrency trading is one of the most lucrative ventures of the year.
To become a successful trader or hodler, you need to have peace of mind in knowing that your investment is safe.
With that in mind, I’m sure you’ve probably heard about cold (offline) and hot (online) wallets.
Each of these storage options come with their advantages and disadvantages.
However, if this is your first time to hear the terms cold and hot wallets, then don’t worry.
I will break it down for you...
Different Types of Crypto Wallets
Essentially, there are two types of wallets for cryptocurrency.
Cold Wallet (Offline)
Hot Wallet (Online)
Both of the above wallets will help you store your cryptocurrency.
The most significant difference is that when it comes to hot wallets, they are directly connected to the internet.
On the other hand, cold wallets are a way of storage that operates offline.
Typically, the funds stored in hot wallets are readily accessible when compared to cold wallets.
However, each of these wallets has its set of pros and cons.
That being the case, let’s take a look at each wallet and discuss its pros and cons.
Cold Wallets Explained
In case you want to store your cryptocurrency for the long term, then the best option is to go for cold wallets.
That’s because cold wallets operate offline, and they have the highest level of security.
There are different options when it comes to cold wallets, including paper or hardware wallets.
These external devices will help you store your private keys.
Pros of Cold Wallets
You can store large amounts of cryptos for an extended period.
It has a much higher security level compared to other forms of storage.
Cons of Cold Wallets
It can be inconvenient when it comes to daily transactions.
Hot Wallets Explained
Truth be told, Hot wallets are quite common.
But unfortunately, this type of storage has the highest risk.
A hot wallet is a tool that typically allows traders to send and receive cryptocurrencies in real-time.
You don’t need a dedicated bank to conduct your transactions on a hot wallet.
Hot wallets are connected directly to the internet, and for you to gain access to your wallet, you will have to go online.
Generally speaking, hot wallets are easier to access compared to cold wallets.
More importantly, cold wallets accept more tokens
Pros of Hot Wallets
Hot wallets are free.
Most exchanges let you use their hot wallet to store your crypto.
Hot wallets are easy to use.
Cons of Hot Wallets
Hot wallets are not as safe as cold wallets
Should You Use a Cold Wallet or Hot Wallet?
Each of these storage types will help you in one way or the other.
Think of a hot wallet (online wallet) as a spending account that you use for everyday transactions like groceries, bills, or paying for coffee. The funds are easily accessible yet are at higher risk of loss.
Think of a cold wallet (offline wallet) as a savings account that you keep the bulk of your funds in.
The funds here are harder to access, but they are stored at the highest level of security.
Well, that concludes our list of the best crypto wallets in 2021. All the devices listed above are trusted devices, the one you pick entirely depends on what your needs are.
Which device are you going to get and why? Let us know in the comments below!
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