This guide will help you to find the Best cryptocurrency wallets in 2022 or Crypto Wallets for YOU! There's no "one size fits all" wallet. Wallets come on different platforms with different features.
The rise of the cryptocurrency market in recent years has been nothing but spectacular with the coming years promising even more growth prospects. With the surge in the usage and demand of cryptocurrency, the market needed to innovate in the way it traded digital assets.
The need became a pressing necessity when several crypto platforms showed a hint of incompetency in flexibility and security. This gave rise to a new wave of emerging crypto platforms proposing enhanced tech and features.
Now the web is filled with numerous promising cryptocurrency wallets to facilitate several key functions. Such functions include identity verification, securing secret pins/keys, and even storing digital assets. The technology of associating a key to represent your portfolio address generated via complex cryptography procedures has helped the domain greatly.
As expected, the market is now inundated with different crypto wallets claiming to the best. But are they really the best? Here is a list of Best cryptocurrency wallets in 2022 or Crypto Wallets redefining digital trade from its core.
What is a Crypto Wallet?
If you’re investing in cryptocurrency, you want to use an alternative currency for privacy or other reasons, you’ll need a place to store your money and a way to send or receive cryptocurrencies.
A crypto wallet is the answer. Crypto wallets come in many forms, including web wallets, mobile, desktop, paper, brain and hardware wallets. Some desktop wallets, called full nodes, hold a complete copy of the blockchain for the cryptocurrency. On local storage, this type of wallet has a long sync process when opened and creates a massive amount of stored data.
A slimmer version is a lite wallet, also called a simple payment verification (SPV) wallet, which relies on a full node hosted elsewhere to validate transactions on the blockchain. Lite wallets are faster and use less disk space on your local storage.
Best Cryptocurrency Wallets in 2022
Coinbase Wallet
Amidst the diverse options available on the web, Coinbase has garnered one of the most prestigious reputations in the cryptocurrency circle. The platform offers insurance coverage to its investors along with the availability of trading after associating your bank a/c.
Pros of Coinbase Wallet
- Simple UI with support to renowned cryptocurrencies
- Facility for storing multiple signatures with the added security of 2FA
- A huge number of investors
Cons of Coinbase Wallet
- No support for Bitcoin
Hive Wallet
Hive is among most esteemed cryptocurrency wallets with ample support for diverse currencies, and quick order-matching. The platform had an unconventional start as a mobile app to offer convenience at its finest.
Pros of Hive Wallet
- Advanced payment verification procedures
- Unrestricted user access
- Instant customer support
Cons of Hive Wallet
- Can be more advanced
Exodus Wallet
With the support for mobile and desktop, Exodus wallet is definitely one of the best crypt wallets. The platform is suitable for newbies, and it offers numerous pros like,
Pros of Exodus Wallet
- Efficient and user-friendly UI
- No association of personal information for security
- Supports Linux, Mac, and Windows
Cons of Exodus Wallet
- No 2FA support
- Does not allow linking your bank a/c
Copay Wallet
Manufactured by Bitpay, Copay is among the most renowned crypto wallets on the web. Numerous firms choose Bitpay as their primary cryptocurrency as its light node processes facilitate smooth transactions.
Pros of Copay Wallet
- Support available for bitcoin cash and bitcoin
- Easy payment identification and verification
- Allows payment on Amazon
Cons of Copay Wallet
- Can feel outdated occasionally
Nexo Wallet
The platform offers over 30% of profits in the form of dividend payments. The multi-platform availability helps the users greatly. Moreover, you also get pros such as,
Pros of Nexo Wallet
- Availability to check asset value without a trade
- The option get a crypto loan
- Gain up to 8% from idle funds
Cons of Nexo Wallet
- Relatively less support
Freewallet
The platform possesses an inbuilt cryptocurrency trade system, offering optimal trading opportunities. With multi-signature function and multi-OS support, you get one of the best crypto wallets on the internet.
Pros of Freewallet
- Availability of hot wallet
- Only requires a network fee
- Facilitates the limitation of monthly/yearly subscription
Cons of Freewallet
- Unsecure at times
Electrum Wallet
One of the most reliable entries on the list of best crypto wallets is Electrum Wallet. With easy transaction support and secure blockchain server, it is simply brilliant.
Pros of Electrum Wallet
- Simple transaction process
- Open-source development availability
- Highly-secure throughout every process
Cons of Electrum Wallet
- Faced a recent breach
Trezor Wallet
Trezor is among the best hardware crypto wallets you can get in 2022. The ability to story assets within cold storage while also allowing the functions of a hot wallet is amazing. It is compact and allows remote use as well.
Pros of Trezor Wallet
- Total control over every private key
- Availability for getting backed up via 24-character seed
- 2FA is available
Cons of Trezor Wallet
- Has faced several attacks
Guarda Wallet
With support for 35+ cryptocurrencies, Guarda wallet offers one of the best crypto wallet services on the web. It also offers web, mobile, and desktop support along with chrome extension.
Pros of Guarda Wallet
- Doesn’t gather personal data
- No need to register
- Multi-OS support
Cons of Guarda Wallet
- Doesn’t support buying through the wallet
Infinito Wallet
As one of the rarest universally-accepted crypto wallet, Infinito offers ample trading opportunities. It also possesses robust security with quick access
Pros of Infinito Wallet
- Offers touch ID support
- Proposes features such as multilingual support, QR scanner, and online portfolio
Cons of Infinito Wallet
- Requires transaction fees
Wrapping Up
Although you can use numerous crypto wallets on the web, some of them truly stand out from the rest. Moreover, you can weigh out the pros and cons to make a rational decision yourself.