Best bitcoin and crypto wallets for April 2024
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 5:49 a.m. UTC April 1, 2024
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Your cryptocurrency is only as safe as your private key. The safest place to keep this alphanumeric sequence that allows you to access your funds is in a cryptocurrency wallet.
Hot wallets are connected to the internet. Cold wallets aren’t, making them harder to hack but less convenient. When choosing a wallet, consider how you’ll use it, its security and its appearance, said Mark Venables, founder of The Crypto Merchant.
To find the best bitcoin and crypto wallets of 2024, we compared nearly 20 providers on their storage functionality and fees, the type of crypto they support, and more.
Best bitcoin and crypto wallets
- Coinbase Wallet Web3: Best bitcoin hot wallet.
- Ledger: Best bitcoin cold wallet.
- SafePal: Best crypto hot wallet.
- Ledger: Best crypto cold wallet.
- Coinbase Exchange: Best exchange wallet.
Bitcoin IRA
Coinbase Wallet Web3
Ledger
SafePal
Ledger
Coinbase Exchange
Compare the best bitcoin and crypto wallets
| WALLET | BITCOIN SUPPORTED | ETHEREUM SUPPORTED | NUMBER OF CRYPTO COINS |
|---|---|---|---|
Coinbase Web3
| Y
| Y
| 100,000+
|
Ledger
| Y
| Y
| 1,630
|
SafePal
| Y
| Y
| 10,000
|
Coinbase Exchange
| Y
| Y
| 262 |
Methodology
We have reviewed and researched some of the most well-known cryptocurrency wallets available in the U.S. to rank the best ones on the market today.
For our rankings, we sent a digital survey, consisting of more than 70 queries, to each company that we reviewed. Our researchers verified the survey data and confirmed any missing data points by contacting each company directly and conducting online research.
Bitcoin and crypto wallets were ranked on several factors, including the number of cryptocurrencies supported, staking availability, functionality, storage features, customer service, costs and fees, and security.
Within each major category, we considered several subcategories, combining them to give an overall score for that category, which we then weighted to calculate an overall ranking of the exchanges.
Data points were scored on a 0.00 – 1.00 scale.
- The top raw score for the best bitcoin hot wallet was 0.78, curved to a 5-star rating as the highest possible score.
- The top raw score for the best bitcoin cold wallet was 0.77, curved to a 5-star rating as the highest possible score.
- The top raw score for the best crypto hot wallet was 0.77, curved to a 5-star rating as the highest possible score.
- The top raw score for the best crypto cold wallet was 0.81, curved to a 5-star rating as the highest possible score.
*The Coinbase Exchange wallet was the highest ranking crypto exchange wallet in the crypto hot wallet category.
Final verdict
When it comes to choosing the best bitcoin and crypto wallet, you must first decide what type of storage you want to use. Hot, cold and exchange wallets all have their merits. Depending on the storage style you’re after, the options we identified above are great choices.
Bitcoin users who like the convenience of hot wallets that are always connected to the internet may like the Coinbase Web3. It supports hundreds of thousands of tokens and dApps and easily links to an existing Coinbase account.
If you prefer a cold wallet to store your bitcoin, Ledger is a solid option. Despite the company’s recent data breach, we believe in its strong security. It also supports multiple types of bitcoin and links with the Ledger Live app for easy transacting.
Users who handle more than just bitcoin may want to consider SafePal for hot storage or Ledger for cold storage. SafePal also offers a hardware wallet for cold storage if you want to combine hot and cold for a Goldilocks version that’s just right.
One of the easiest options is an exchange wallet that links directly to your existing account, which is where the Coinbase Exchange wallet comes in. New users who already transact on the exchange may find this the simplest way to get started. As your crypto holdings grow, you can progress to a cold wallet or another hot wallet in this review.
What is a crypto wallet?
Crypto wallets keep your crypto safe by storing your private key. This storage can be online in a hot wallet or offline in a cold wallet. Hot wallets are often apps or browser extensions. Cold wallets are typically physical devices that may resemble USB sticks that you plug into your computer to transact and then disconnect for safe storage.
How to choose the best crypto wallet
To choose the best crypto wallet, you must decide what type of storage you want to use. Hot wallets offer convenience because they’re always accessible via the internet.
Some users feel hot storage is less secure, as it can be prone to hacking, so they prefer cold wallets. These hardware wallets are less convenient, however, because they aren’t directly connected to any exchanges for easy transacting.
Frequently asked questions (FAQs)
Crypto wallets don’t directly store cryptocurrency, but they do store your private key, which is how you access your crypto. If you lose your private key, you can no longer access your crypto. This is why you need a way to keep your private key both safe and accessible, which is where crypto wallets come in.
To open a crypto wallet, you must create an account with a wallet provider. If you’re using a cold wallet, purchase the hardware on the provider’s website and then use the linked app to transact online. If you’re using a hot wallet, install the wallet app on your phone or computer and follow the setup instructions to create your account.
The security of hardware and software wallets is a topic of debate in the crypto world. The consensus is that hardware wallets are more secure because they are not connected to the internet and thus are less prone to hacking. That said, if you’re the type of person who can’t keep track of your car keys, a software wallet may be a better option, as it’s less likely to disappear between the couch cushions.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
