Blockchain And Cryptocurrency Provider

The Best Cryptocurrency Wallets in 2021

The Best Cryptocurrency Wallets in 2021

Table of Contents

Introduction

So, you’re interested in cryptocurrency, but don’t know where to start? Well, setting up a cryptocurrency wallet is one of the first and most important steps in the crypto journey.

There are many different types of wallets available and they all come with different pros, cons and tradeoffs. Before jumping right in and choosing a particular wallet it’s important that you understand the different types of wallets available. One important tradeoff is between security and convenience. In general, the level of security measures should be proportional to the value of the cryptocurrency held. Or more accurately, the value that a user places on the specific holdings.

What makes for a good wallet? Read on to find out some of the best cryptocurrency wallets across the hardware, desktop, mobile and online categories.

 

Hardware wallets

A hardware wallet is a specific type of cryptocurrency wallet that stores a wallet’s private keys in a secure hardware device that’s offline. The main idea is to fully isolate your private keys from your computer or smartphone, which are easier to hack. This greatly improves the security of your wallet and ultimately your coins. Below are some of the most popular hardware wallets in the market today.

Ledger

Ledger Hardware Wallet

The Ledger Nano S is one of the most favoured and trusted hardware wallets around and has been recently superseded by the Ledger Nano X which improves upon the original design while keeping its high level of security and trust in the same form factor. The Ledger nano wallets are small USB key-like devices that plug into a computer or mobile device in order to securely authorise a transaction while not compromising the security of the private key.

PROS

CONS

Trezor

Trezor Hardware Wallet

The Trezor is a brand of hardware wallets manufactured by Satoshi Labs. They’ve been around since 2013 and are one of the most popular wallets on the market, particularly in North America.

PROS

CONS

KeepKey

KeepKey Hardware Wallet

The KeepKey is a hardware wallet developed by ShapeShift – a company founded by Erik Voorhees in 2014. The platform allows users to buy and trade many different cryptocurrencies.

PROS

CONS

Our Hardware Wallets Review

Ledger
9/10
Trezor
8.5/10
KeepKey
8/10

Desktop Wallets

Desktop wallets are all wallets running as a standalone application on your personal computer. They are divided into full node wallets and lightweight desktop wallets. Below are some of the most popular available today.

Exodus

Exodus Desktop Wallet

Exodus is a popular beginner-friendly desktop wallet. It supports Windows, MAC OS, and Linux platforms. The design is simple and easy to understand.

PROS

CONS

Electrum

Electrum Desktop Wallet

Electrum is one of the oldest and most trusted Bitcoin lightweight wallets. The open-source project was started in November of 2011. This wallet is not the most user-friendly wallet out there, but it supports most of the functionality Bitcoin protocol has to offer like multi-sig, time lock, lightning network, etc. Definitely a good choice for advanced users,

PROS

CONS

Samourai

Samourai Desktop Wallet

The Samourai wallet positions itself as a bitcoin wallet for the streets. If you’re looking for a secure and private bitcoin wallet then this will be a good option to consider.

PROS

CONS

Daedalus

Daedalus Desktop Wallet

Daedalus is a full node Cardano (ADA) desktop wallet, developed by IOHK. The wallet maintains a full copy of the Cardano blockchain so you can independently validate every transaction in the chain’s history.

PROS

CONS

Our Desktop Wallet Review

Samourai
9/10
Daedalus
8.5/10
Electrum
8/10
Exodus
7/10

Mobile Wallets

All wallets that run on Android or IOS devices are called mobile wallets. In general, all of them are lightweight wallets. And as light wallets they can be dedicated single currency wallets or multi-currency wallets. Here’s some of the most popular.

Coinomi

Coinomi Mobile Wallet

Founded back in 2014, Coinomi is the oldest multi-chain wallet available, with millions of active users. Coinomi is a security-first wallet for both mobile & desktop Coinomi has evolved its mobile app to fully support both iOS and Android; and now with the recent addition of its desktop client, it is available on Windows, MacOS and Linux. As of more recently, they have added a wealth of new features going from just a mobile wallet app to a nearly full exchange experience.

PROS

CONS

Cake Wallet

Cake Mobile Wallet

Cake Wallet was the first open-source Monero wallet on IOS in 2018. As of January 2020, it is available for Android as well. Since 2021 it supports BTC (Electrum) wallet and LTC (Electrum) wallet. Cake Technologies’ goal is to bring crypto to the masses through a simple intuitive UI/UX for beginners yet robust features for more advanced users.. We can recommend this wallet as a great option for Monero users.

PROS

CONS

Mycelium

Mycellium Mobile Wallet

Mycelium has been around since 2012 and has a great reputation in the Bitcoin space. It’s one of the few self-custody, open-source, reproducible wallets. This means you manage the keys and the binary supplied is identical (bit-exact) to the binary created when a user compiles the app from source code.

PROS

CONS

Jaxx Liberty

Jaxx Liberty Mobile Wallet

Jaxx has been around for a while and is a popular mobile wallet option. The maker of Jaxx Classic & Jaxx Liberty is Decentral which was founded by Anthony Di Iorio.

PROS

CONS

Blockchain.com

BlockChain Mobile Wallet

Blockchain.com is a mobile wallet provider with a desktop client option also available. They are a multicurrency provider supporting the leading cryptos; Bitcoin, Ether, Bitcoin Cash, Stellar etc while also offering services of some newer projects like Polkadot, Yearn Finance and some stable coins.

PROS

CONS

Green Wallet

Green Mobile Wallet

Green Wallet is one of the more popular and intuitive wallets available for users on both Android and IOS. They have also recently ( May 2021 ) added a desktop client version. Developed by Blockstream (a company that actively works on and contributes to the Bitcoin core protocol) you can be assured of its quality and trust its security.

PROS

CONS

Our Mobile Wallet Review

Mycelium
9.5/10
Green Wallet
9/10
Blockchain
8/10
Coinomi
8/10
Cake Wallet
7/10
Jaxx Liberty
7/10

Online Wallets

An online wallet as the name suggests is connected to the internet and accessible through a web browser. These types of wallets can be classified as custodial or multi-signature depending on who controls the private keys.

Below we highlight some of the most popular online wallets.

Block.io

Block.io Online Wallet

Founded in 2014, Block.io is one of the most popular online web-based bitcoin wallets. It’s a non-custodial, multi-signature, wallet as a service solution. The founder is Atif Nazir and the firm is based in San Francisco.

PROS

CONS

Yoroi

Yoroi online Wallet

Yoroi is a Cardano (ADA) web and mobile light wallet developed by Emurgo. Yoroi is a day to day wallet for Cardano users whereas Deadalus is a more robust full node cardano wallet. Yoroi does not download a full copy of the blockchain and instead connects to trusted servers which have the full copy of the Cardano chain. The Yoroi extension is added to chrome

PROS

CONS

Metamask

Metamask Online Wallett

MetaMask was developed by ConsenSys and has been around since 2016. It’s a popular browser extension and mobile app that allows you to interact with the Ethereum blockchain. It’s an online browser extension wallet so it’s advisable to only use the wallet to store a small amount of crypto coins.

PROS

CONS

Our Online Wallet Review

Block
8/10
Yoroi
8/10
Metamask
7/10

Conclusion

All options come with trade-offs and variables that balance ease of use against inherent security and protection of funds. The ideal solution is different for each individual depending on what they are using it for or how much value they wish to store and protect. As a general rule, it’s recommended to only use custodial and mobile wallets to store and move smaller amounts of crypto, whereas if you wish to protect and HODL a larger amount of crypto a hardware wallet is more suitable.

For more about crypto wallets check out our guide:

Share this 

Facebook
Twitter
LinkedIn
Bryan

Bryan

Based in Ireland, Bryan is the founder and CEO of Boinnex. He has worked for almost a decade as an IT Project Manager contracting across finance, banking, insurance, tech, and healthcare industries. He found his way into the crypto space in 2017 when he started a contract role with IOHK — the dev company behind the Cardano blockchain. Since then, he has continued to be actively involved in different projects in the crypto and blockchain space. He enjoys learning, writing, and sharing knowledge about all things crypto.

Have any questions? Write them below

Leave a Reply

Sign up for our Newsletter

Receive daily updates directly in your favorite email.