Top picks for crypto wallets
Best hardware wallet for crypto security - Ledger
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 Ledger
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Ledger wallets offer a secure element, Bluetooth connectivity, and rock-solid mobile and desktop apps. Since first using the Nano S in 2017, I've found Ledger devices to be exceptionally reliable, passing every transparency audit I've reviewed. Ledger also provides extensive website support, boasts a strong community, and maintains a detailed GitHub repository, featuring numerous resources for app developers.
While most of Ledger’s codebase is open-source, certain components remain proprietary due to security reasons, its hardware secure element, and agreements with chip manufacturers. This closed-source aspect has occasionally drawn criticism from crypto purists, yet Ledger continues to be widely trusted in the crypto wallet community thanks to its strong security track record and transparent audits.
A screenshot of Ledger's wallet app, showing a portfolio balance and trending crypto coins.
Best fully open-source cold wallet - Trezor
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 Trezor
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Trezor features open-source firmware, a bright touchscreen on the Safe 5 model, and comprehensive support for passphrase-protected wallets, including Shamir Secret Sharing. Paired with the Trezor Suite desktop app, I found it to be a clean, intuitive user experience. Over the years, Trezor has established itself as a highly trusted manufacturer, setting standards alongside industry-leading crypto wallet apps in terms of security, reliability, and advanced technology.
Fully open-source, Trezor stands apart in transparency, with all firmware and hardware specifications available publicly on GitHub. This openness is appealing for crypto enthusiasts who prioritize full transparency and auditability. While using Trezor involves a certain learning curve, I've found its user-friendly design, extensive features, and strong security make it a strong choice among hardware wallets.
The Trezor wallet supports various crypto coins, including some testnets that allow you to practice sending and receiving cryptocurrency.
Best crypto wallet for beginners - Exodus
Best wallet for Ethereum DeFi and NFTs - MetaMask
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 MetaMask
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MetaMask is the original crypto browser plugin designed specifically for interacting with Ethereum’s decentralized finance (DeFi) ecosystem, decentralized applications (dApps), NFTs, and test faucets. Developed by ConsenSys, MetaMask set the industry standard for browser-based crypto wallet plugins. I've personally used MetaMask since 2017, conducting hundreds of transactions involving decentralized exchanges, DeFi lending, staking, NFT minting, and other blockchain interactions.
Though inherently a hot wallet, MetaMask can transition into cold-storage mode when used alongside a hardware wallet, significantly boosting security. Without a hardware wallet, MetaMask stores your seed phrase locally within your browser files, meaning its security is entirely dependent on the strength of your chosen password. A key tip from experience: your MetaMask password should offer a security level equivalent to the underlying seed phrase (at least 128 bits for a 12-word mnemonic). MetaMask’s fully open-source code is accessible via GitHub, enhancing transparency and trustworthiness.
The MetaMask wallet functions as a browser add-on. Seen here is the main portfolio window.
Best advanced crypto wallet for expert users - Electrum
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 Electrum
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Electrum is a long-established, open-source crypto wallet that offers advanced features, including support for numerous derivation paths and customizable security settings for experienced users. I've personally used Electrum in both desktop and mobile formats since 2018, and revisited it again recently for this review. Even today, Electrum maintains the feel of a highly sophisticated tool, making it ideal for advanced cryptocurrency investors.
By default, Electrum operates as a hot wallet, but it can function as a cold wallet if used on an air-gapped machine, like an old laptop with Wi-Fi capabilities disabled, or connected to compatible hardware wallets. However, such setups require careful implementation to avoid security flaws. Given the complexity and technical expertise required, I generally recommend Electrum only to advanced crypto users comfortable navigating these intricacies.
A screenshot of the receiving tab of Electrum's wallet app.
FAQs
What is the most trusted crypto wallet?
In my experience, Ledger stands out as the most trusted crypto wallet, thanks to its strong security track record, transparent audits, and secure hardware-based cold storage. Having mined bitcoin since 2013 and executed thousands of crypto trades, I've found Ledger devices to consistently offer the highest levels of security, making them a preferred choice for serious crypto investors and institutions.
Another excellent option is Trezor, renowned for its fully open-source firmware and strong security features, making it a trusted alternative to Ledger. Whichever wallet you select, it’s critical to securely back up your recovery seed phrases upon initialization, ideally on fade-resistant paper or even engraved onto a metal plate, to avoid permanent loss of your cryptocurrency if the hardware device is misplaced or damaged.
Which wallet is best for beginners?
For beginners, I recommend Exodus as the best crypto wallet, thanks to its user-friendly desktop interface, easy-to-navigate design, and built-in support for over 300 cryptocurrencies. I’ve used Exodus regularly since 2017, and its intuitive setup makes it an ideal starting point for new crypto investors.
For beginners seeking higher security through cold storage, Ledger and Trezor hardware wallets are excellent choices. While hardware wallets introduce additional complexity, they provide the ultimate security for self-custody crypto assets. If you’re not ready for hardware wallets yet, using a trusted, regulated crypto exchange can be a good intermediate step before transitioning to your own crypto wallet.
What are the top four cold wallets?
In my opinion, the best cold wallets for 2025 are Ledger, Trezor, Electrum (used offline), and Exodus (paired with hardware). Each has been thoroughly tested by the crypto community and offers strong security features for safely storing your cryptocurrency.
- Ledger: Best compact hardware wallet with a secure element, ideal for maximum offline security.
- Trezor: Top touchscreen hardware wallet with fully open-source firmware for ultimate transparency.
- Electrum: Advanced open-source desktop wallet that becomes secure cold storage when run on an air-gapped, internet-free device.
- Exodus: User-friendly desktop wallet that converts into secure cold storage when connected with a compatible hardware wallet.
Do I really need a crypto wallet?
Yes, unless you plan to leave all your crypto assets with a trusted exchange indefinitely, you'll need a crypto wallet to securely hold, transfer, and manage your cryptocurrency holdings. A crypto wallet serves as an essential intermediary, allowing you to safely move assets between exchanges, personal addresses, or cold storage.
Additionally, a good crypto wallet enhances your privacy by generating new addresses for each transaction, making it harder for third parties to track your holdings. Even if you primarily use exchanges, maintaining your own wallet adds an important layer of security, giving you full control and ownership of your crypto assets.
Does Coinbase offer a non-custodial wallet?
Yes, Coinbase offers a non-custodial wallet known as Coinbase Wallet, where you control your private keys and are responsible for safeguarding your recovery seed phrases. While I’ve used Coinbase Wallet for various transactions, I found its user experience less impressive despite its modern design. Learn more about the software available on the various crypto exchanges at my full guide to the best crypto trading apps.
Coinbase Wallet is convenient for smaller transactions and as an easy entry into DeFi, NFTs, and cross-chain activities. However, for serious cryptocurrency storage, I strongly recommend using dedicated cold storage devices such as Ledger or Trezor, which offer significantly stronger security.
Does having a trusted crypto wallet actually matter?
Choosing a trusted crypto wallet is crucial because whoever controls your private keys controls your cryptocurrency. Having mined bitcoin since 2013 and executed thousands of crypto transactions, I've learned firsthand that wallet choice is the most critical layer of your security protocol. For larger amounts and long-term holdings, a reliable cold storage wallet, such as Ledger or Trezor, is essential.
While some hot wallets might be suitable for small, everyday transactions, they can expose your seed phrases to theft through weak encryption or compromised devices. Wallets controlled by some disreputable crypto exchanges also have a sordid history of being susceptible to hacking and fraud. Remember, as famously stated by crypto advocate Andreas Antonopoulos, “Not your keys, not your crypto.” Check out my guide on how to avoid crypto scams for more details on the best ways to protect yourself.
hot_tubWhy aren’t hot wallets as safe?
Hot wallets aren’t as secure because they store your seed phrases locally on internet-connected devices, often in plaintext or weakly encrypted files. Smartphones and computers are vulnerable to malware designed specifically to steal crypto. While hot wallets can be convenient, they don't offer the robust security of dedicated cold-storage hardware devices.
What is a recovery seed phrase, and why is it important?
A recovery seed phrase (also known simply as a seed phrase) is a set of 12 or 24 words that serve as a human-readable representation of your crypto wallet’s private key. Technically, these words correspond to an encoded cryptographic number (defined by the BIP-39 standard) that enables you to restore access to your cryptocurrency assets if you lose or damage your wallet device. Anyone who obtains your seed phrase can fully control your crypto holdings, making its secure storage critical.
Although recovery seed phrases provide incredibly strong cryptographic security and are virtually impossible to brute-force, they represent your wallet’s single most critical vulnerability if mishandled. Even with secure hardware wallets like Ledger or Trezor, securely backing up your seed phrase remains essential. I strongly recommend writing your recovery phrase on fade-resistant paper or engraving it onto metal, then storing it securely offline in a fireproof safe.
enhanced_encryptionCan someone brute-force my seed phrase?
Realistically, no. With 2132 possible combinations for a 12-word seed and 2264 for a 24-word seed, the number of possibilities is astronomical. Even attempting billions of guesses per second would take far longer than the universe has existed to crack your phrase. Practically, the greatest threat is always human error, such as poor storage practices, and not brute-force attacks.
Are advanced crypto wallet features necessary?
Advanced wallet features, like multiple derivation paths, detailed transaction data decoding, and hardware wallet compatibility, can significantly enhance security and convenience for experienced crypto users. While beginners may initially find these features unnecessary, advanced functionalities become increasingly valuable as your crypto holdings and experience grow.
Steven's expert take
"I’ve contributed to Ian Coleman’s BIP39 tool on GitHub, which is a powerful offline resource for advanced users to recover wallets or explore derivation paths. Use it air-gapped only. It’s not beginner-friendly; mistakes can permanently cost you your crypto."
Steven Hatzakis
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Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
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