5 Best Crypto Wallets in 2023 – [For BTC, ETH, XRP, and More]
- Best Crypto Wallets — Full Analysis (Updated in 2023)
- Binance — Trade Over 500 Currencies Directly From Your Wallet
- Coinbase — Secure Enclave Keeps the Funds in Your Wallet Safe
- eToro — CopyTrader Feature Lets Your Copy Big Wallets and Maximize Your Earnings
- Kraken — Trade 60+ Cryptocurrencies Directly From Your Wallet
- Gemini — Insurance Against Fraud for Cautious Traders
- Quick Comparison Table: Best Crypto Wallet Features
- Tips on Choosing the Best Crypto Wallets
- FAQs on the Best Crypto Wallet
Finding the best crypto wallet can be difficult, especially with so many options to choose from. Some of them won’t be compatible with a large number of coins, while others won’t keep your funds protected from scams and hackers.
I tested 45+ of the best crypto wallets and shortlisted the very best. I looked at available currencies, ease of use, and security. All the wallets on my list offer clear and simple interfaces, along with solid security features and efficient integrations to maximize your wallet’s potential.
My top recommended crypto wallet is Binance because of the large number of currencies you can exchange, including altcoins and fiat. Get a wallet with Binance today and get its sign-up bonus for multiple benefits to give you a head start.
Short on Time? Here Are the Best Crypto Wallets in 2023
- Binance – The biggest crypto trading platform with more than 500 currencies. Complete its sign-up bonus campaign tasks within 7 days to take advantage of its new user offer.
- Coinbase – Protected trading with Secure Enclave and more than 100 currencies.
- eToro – Built-in wallet and CopyTrader feature to maximize your crypto earnings.
- Kraken – Trade over 60 coins, including BTC, ETH, DOGE, and more
- Gemini – Hot-wallet insurance to protect your assets.
Best Crypto Wallets — Full Analysis (Updated in 2023)
Binance is the largest crypto exchange globally, so that you can start a wallet with your choice of over 500 currencies. It supports all the major coins, such as BTC, ETH, XRP, DOT, SOL, ADA, etc., along with meme coins like SHIB and DOGE. This exchange also has a fiat market with 15 available currencies which you can withdraw from your wallet at any time.
The wallet is incredibly secure and covered by 2-factor authentication by default. You choose your own PIN codes and phrase-based recovery prompts, much in the same way as traditional online banking, to ensure your wallet can only be accessed by you. There is also the option to whitelist specific addresses, so you never have to worry about accidentally sending crypto to the wrong person.
Binance is one of the few platforms to support SegWit addresses with its wallets, allowing you to make fast, smooth transactions. While it doesn’t yet allow you to create wallets with Bech32 addresses, it does let you use them, meaning you aren’t stuck with Legacy.
A great feature of the Binance wallet is its interface that shows trends and sudden changes in the market, allowing you to make immediate decisions and exchange at the right time. Its useful graphs let you track coin performance and compare past events, which is perfect for day traders. You don’t need to wait for verification if you want to make a sudden move, just sign in and make the exchange in moments.
One downside to Binance’s wallet is that the customer support is relatively poor. However, comprehensive FAQ and support pages on its website are split into helpful categories and should cover most problems you may encounter.
New subscribers can take advantage of Binance’s Sign-Up Bonus campaign to get exclusive rewards when you complete introductory activity tasks within 7 days.
Coinbase uses Secure Enclave to ensure the security of its wallets. This means that each server is protected with CPU hardware-level encryption and isolation features that show app codes and data only to those with particular privileges. This is reassuring since Coinbase keeps its currency online. Your wallet is also protected by 2-factor authentication, and a PIN is sent to an authorized mobile number whenever you want to make any transactions.
This exchange supports 100+ currencies, including Bitcoin, Ethereum, Solana, Polkadot, Dogecoin, Litecoin, etc. It has some unique wallet features, including access to decentralized finance (DeFi) innovations. You can keep digital currencies and Ethereum ERC-20 tokens in your wallet and link them to DeFi projects, taking advantage of online airdrops to gain free crypto coins. You’ll also find that most stores that allow cryptocurrencies instantly authorize transactions from a Coinbase wallet as it’s trusted and easy.
Android and iOS users can get the wallet for free on the Google and App stores. On both mobile and desktop, it’s quick and easy to set up your account, whether you choose a business or an individual wallet. Business wallets are for high-volume crypto storage, while an individual account will regularly suit those exchanging to boost personal savings. Just set up your payment methods following the on-screen prompts and activate the 2-factor authorization to open your wallet.
If you’ve joined the NFT craze, there is a space in the Coinbase wallet to store your non-fungible tokens safely. You can keep your collectibles secure in the wallet and trade them with other enthusiasts directly from Coinbase.
One downside to the Coinbase wallet is that there is limited support available. However, there is a hotline number that you can call to instantly disable your account if you notice unauthorized activity, and this gives you the option to then speak to a live agent.
Sign up to Coinbase today and get its special offer of $5 free Bitcoin in your account.
eToro’s wallet has an in-built exchange, allowing you to convert most currencies with your existing funds instead of having to buy new coins each time. It offers 27+ currencies, including Bitcoin, Stellar, Litecoin, and Ox, and you can set up a separate ETH Wallet if you want to trade with Ethereum. Most wallets are free to open, apart from Ripple and Stellar, which require a small fee used to give you access to the blockchain.
The iOS and Android wallet apps are simple to use, connecting directly to eToroX. It’s extremely easy to navigate the wallet, and even those new to crypto trading shouldn’t have any issues understanding the buttons and on-screen prompts. The eToro wallet isn’t available on desktop, so if you prefer to trade from your PC rather than your mobile, this probably isn’t the best choice for you.
Security shouldn’t be a concern as eToro uses optional 2-factor authentication, SSL web encryption, and a personalized blockchain address to make your on-chain transactions fully secure. It also has an unlosable key feature, so if you ever lose your credentials, eToro can safely confirm your details and reunite you with your wallet.
One problem with eToro is its complicated fee system. However, it does depend on which coin you are hoping to trade. Individual fees on certain coins aren’t too bad. For example, Bitcoin exchanges start at 0.75%, which is less than other wallets.
eToro is currently offering a special bonus to its new users. You can get $50 of currency absolutely free when you sign up.
4. Kraken — Trade 60+ Cryptocurrencies Directly From Your Wallet
Unlike the other wallets in this list, Kraken is a little different, as it is an exchange-only wallet. Depending on your needs, it is still a great choice. Kraken has over 60 cryptocurrencies, including Bitcoin, Ethereum, Cardano, Solana, Dogecoin, Stellar Lumens, etc. It also supports stablecoin such as USD, Tether, and Dai. As of November 2021, you can also trade with Shibu Inu.
Kraken has some excellent security features to keep your wallet as safe as possible. It uses API key permissions, a secure private code system, blocks SMS-based wallet recovery, and times-out your wallet when you’re inactive for a few minutes. There’s also a bug bounty program, which rewards cyber researchers who disclose potential threats and weaknesses.
This wallet has some high banking fees, but you can sign up to Kraken Pro to reduce them a little after you set up your wallet.
You can grab a special bonus offer if you sign up today. This entitles you to 20% of a revenue share.
5. Gemini — Insurance Against Fraud for Cautious Traders
Gemini is one of the only exchanges out there to insure customer hot-wallets. Like Binance and Coinbase, Gemini offers FDIC insurance for your stablecoin balances, and you can pay an additional fee to cover your crypto assets to the value of $250k. Unlike many other exchanges, Gemini has a reliable customer support team on hand to assist you if you have any issues.
This wallet supports 60+ currencies, including Bitcoin, Fantom, Ethereum, Litecoin, Terra, etc. It’s also available to members of all 50 US states, so if you’re usually affected by the restrictions imposed on crypto trading in the US, Gemini may be a good choice for you.
One downside to Gemini is its fees, which can be steep compared to other wallets. Even though its trading and purchase fees are pretty high, Gemini has low withdrawal fees, and you are allowed up to 10 withdrawals per month for free.
You can get Gemini today and get a huge $150 in Bitcoin when you deposit $1,000 into your account. If you want to start smaller, there are also multiple new account promotions on offer.
Quick Comparison Table: Best Crypto Wallet Features
To choose the best crypto wallets, I took into consideration their number of coins and fiat currencies, fees, security, and whether it has mobile apps.
Tips on Choosing the Best Crypto Wallets
There are 4 main areas I focus on when I’m choosing a crypto wallet:
- Low fees — When you choose which exchange to keep your wallet with, you should consider both buying and trading fees, as well as banking fees, which can be extensive. Finally, always check how much it will cost you to actually withdraw your funds from the wallet into your bank account.
- Number of currencies — The more coin options available to you, the more likely you are to excel in crypto trading. When the wallet you pick supports multiple coins, you don’t need to worry about missing the next big tip and can ensure that you’re maximizing your wallet’s potential.
- Immediate availability — Make sure the wallet you want is available in your country before committing. If you’re in the US, for example, several states have blacklisted the use of crypto exchanges entirely. You can use a quality VPN to bypass geoblocks and access the websites you need while keeping your wallets and personal data secure. I recommend ExpressVPN for its fast speeds, vast server network, and high-class security features.
- Great Security — The wallets I’ve chosen use secure 2-factor authentication and other methods to make sure it is only you who ever accesses your funds. Despite the excellent security used by these wallets, they are hot wallets, so your funds are stored online. This means that cyberattackers could potentially gain access to your coin and personal information if you use a crypto exchange without additional protection. Because of the overall risk, I recommend always using a VPN when you trade.
FAQs on the Best Crypto Wallet
What crypto wallet can I use in Canada and the US?
With a quality VPN, you can use all of the best crypto wallets in the US and Canada. My number one choice of wallet is Binance because of its vast coin exchange, excellent security, and app features.
Can I use a crypto wallet on my phone?
Yes, you can use all of these top crypto wallets on mobile. Binance is my favorite wallet as its mobile app is packed with advanced features. You also benefit from top-class security, the world’s largest crypto exchange, and reasonable fees.
Get the Best Crypto Wallet Today
Choosing the right crypto wallet for you doesn’t have to be tough. Simply pick a wallet with multiple currencies, advanced security, intuitive apps, and decent trade, exchange, and withdrawal fees.
I recommend Binance because it has the largest amount of available currencies, has app features to suit advanced users, and has reasonable fees in all trade areas. You can get it today and take advantage of its New-User Bonus.
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