Table of Contents

Share this article If you liked this article share it with your friends.
Expert Verified
22 min read

Best Crypto Wallets to Withdraw Money for Beginners (2024)

Our Editorial Standards

Finding a secure and user-friendly solution for managing your assets in the dynamic digital finance landscape can be daunting. To simplify things, we’ve compiled a review of the best crypto wallets for your convenience, looking at the best hot and cold wallets.

Table of Contents

Quick Look: List of top crypto wallets

Hot wallets:

  1. Coinbase wallet: A safe, easy-to-use wallet connected to Coinbase Exchange.
  2. DeFi wallet: A crypto wallet focused on DeFi, allowing access to DApps and opportunities for yield farming.
  3. MetaMask wallet: An open-source browser extension for handling Ethereum-based assets and using decentralized apps.
  4. Trust Wallet: A secure wallet for various cryptocurrencies designed for ease of use and compatibility with major blockchains.
  5. Atomic Wallet: A non-custodial wallet for over 500 coins featuring instant exchange and staking.
  6. Guarda wallet: A simple, multi-currency wallet for major blockchains, usable across different platforms.
  7. Exodus wallet: A visually appealing desktop wallet supporting popular cryptocurrencies.
  8. Gemini wallet: A secure wallet from Gemini for buying, selling, and storing cryptocurrencies, with additional trading services.

Cold wallets:

  1. Ledger Nano X wallet: A Bluetooth hardware wallet with high security, supporting many cryptocurrencies, and is easy to use.
  2. Trezor Model T wallet: A top hardware wallet supporting over 1000 assets and working on different systems.
  3. KeepKey wallet: A secure hardware wallet with network attack protection and support for various cryptocurrencies.
  4. Ellipal Titan wallet: A high-security hardware wallet that is sealed for safety and supports many tokens and blockchains.
  5. NGRAVE ZERO wallet: The first crypto hardware wallet with top security certification EAL7, air-gapped operation via QR codes, and premium construction.

Looking for a crypto wallet to make withdrawing quick and easy? Discover swissmoney

Swissmoney financial solution provider logo

In 2021, swissmoney introduced a flexible wallet for handling cryptocurrencies, emphasizing security and ease of use to overcome challenges the traditional banks face with digital currencies.

Developed by Swiss experts, it allows deposits, withdrawals, transactions and purchases of Bitcoin and other cryptocurrencies as well as fiat money transfers. It also provides a payment card with significant daily spending limits.

Key features of the swissmoney crypto wallet:

  • Comprehensive support for both crypto and traditional financial services.
  • Diverse deposit methods for added flexibility.
  • Absence of strict limits on card payments.
  • The streamlined and rapid onboarding process for user convenience.
  • Accessibility on both Apple Store and Google Play platforms.

Pricing: Free.

An Easier Way: swissmoney App
An Easier Way: swissmoney App
Fiat or crypto, Android or iOS we promise you the best Swiss quality experience.
Get it now

Best crypto wallets comparison table

Hot wallets comparison

Wallet Name


Price Pros


Coinbase Wallet


Free Intuitive interface, and educational resources, available in many countries

Higher fees, limited customer support DeFi wallet


Free Full control of private keys, access to DeFi services

Requires app, limited education and analysis tools, fees vary

MetaMask wallet


Free Easy browser integration, access to DApps, mobile app

Limited to the Ethereum network, requires careful seed phrase management

Trust Wallet


Free Access to DApps and DeFi, NFT support, no personal data required

Advanced features may be complex for beginners, limited mobile support

Atomic Wallet


Free User-friendly interface, diverse coin support, instant exchange

Fixed fees for fiat purchases, security breach history

Guarda Wallet


Free Secure, versatile, multi-currency, user-friendly

High trading fees reported, closed-source code raises security concerns

Exodus Wallet


Free User-friendly, secure, diverse coin support, staking, exchange

High trading fees reported, closed-source code raises security concerns


Free Multiple currencies, interest on holdings, cashback, claims high security

Lack of transparency, web-based and susceptible to hacking, limited control over assets

Gemini Wallet


Free Easy to use, secure, credit card with rewards

Complex fee structure, limited credit card availability, location restrictions

Cold wallets comparison

Wallet Name

Type Price Pros


Ledger Nano X wallet


€149 Top-notch security, Bluetooth connectivity, wide coin support, user-friendly Higher price, intricate setup process

Trezor Model T

Cold €179

Advanced security, diverse coin support, mobile compatibility

No Bluetooth, higher price

KeepKey wallet



Affordable, secure, easy to use, multiple currencies

Customer support issues, official Chrome app retired

Ellipal Titan wallet


$169 Top security, air-gapped, large touchscreen, NFT support

Limited customer support, longer delivery times, learning curve



€398 Top security (air-gapped, cold storage, EAL7 certified), user-friendly

Expensive, limited DeFi support, no Bluetooth or NFC

Let’s explore each option on our list in more detail.

A detailed review of the top hot wallets

#1 Coibase Wallet

Coinbase logo

Coinbase, the largest cryptocurrency exchange in the United States, is highly preferred by investors for its trusted platform. It boasts a user-friendly interface, a wide range of cryptocurrencies, and opportunities to earn free crypto.

Coinbase wallet ensures secure trading experiences by prioritizing regulatory compliance.

Why choose Coibase Wallet?

Coinbase Wallet is a self-custody wallet that provides complete control over cryptocurrency assets by storing private keys directly on their devices.

It offers secure storage, easy buying and selling, support for many cryptocurrencies, integration with Coinbase exchange, and mobile access.

Key features:

  • Simple wallet interface.
  • Accessible in 130+ countries.
  • Comprehensive educational materials.

Pricing: Free.


  • Intuitive wallet interface for ease of use.
  • Access to educational resources.
  • Availability in various countries.


  • Higher fees relative to other wallets.
  • Limited availability of customer support.

📚Learn How to Cash Out on Coinbase: A Step-by-Step Guide 

#2 DeFi Wallet logo

The DeFi wallet is a decentralized wallet that puts you in control of your private keys. When setting up the wallet, you’ll need to jot down your recovery phrase, which allows you to restore your funds if needed.

Designed as a non-custodial wallet, it offers users access to various DeFi services. With this wallet, you can store, swap, and earn interest on your tokens, prioritizing flexibility and security.

Why choose defi wallet? DeFi wallet is a good choice for users who want full control of their private keys and funds. The wallet provides access to a comprehensive suite of DeFi services, including storing tokens, staking, swapping, transferring, and transacting with decentralized apps.

Key features:

  • Users control their assets with private keys.
  • Supports multiple chains for asset management.
  • Allows swapping of over 1000 tokens.
  • Includes security features like local key encryption and biometric authentication.
  • Desktop, mobile, and browser-based applications
  • Provides access to governance functions for selected blockchains

Pricing: Free.


  • Easy setup and funding using a bank transfer or credit/debit card.
  • Tracks the growth of portfolios and helps users make quick operations.
  • Wide range of supported blockchains.
  • High-level security measures.
  • Users retain ownership of private keys.


  • Requires mobile app for transactions.
  • Limited education and analysis tools.
  • Fees for DeFi rewards and network fees may vary.
  • Not ideal for beginners due to its complexity.
  • Not widely available in all jurisdictions.

📚Learn How to Withdraw money from

#3 MetaMask Wallet


MetaMask is a popular self-custodial wallet that lets you access DApps from your browser while keeping control of your private keys. Its easy-to-use interface and seamless browser integration make it a top choice.

The MetaMask browser extension works with Chrome, Firefox, and Brave, allowing simple storage of various digital assets in your browser.

Why choose the MetaMask wallet?

MetaMask is popular for its non-custodial, open-source design, giving users full control over keys and funds. It supports Ethereum tokens, integrates with browsers, and works with Ledger devices, making it convenient and secure for managing assets and participating in DeFi.

Key features:

  • Connects you to the decentralized web.
  • Acts as both a wallet and a browser plugin.
  • Ensures your keys and assets are always under your control.
  • Provides secure login and digital wallet.
  • Allows browsing and connection to decentralized websites.
  • Offers easy import for existing desktop users and simple setup for new users.

Pricing: Free.


  • Option to customize gas fees for transactions.
  • Convenient access to Web3 DApps and DeFi applications.
  • Seamless integration with web browsers.
  • The mobile app enables usage while on the move.


  • Limited to the Ethereum network.
  • The seed phrase necessitates careful management.

📚Learn How to Withdraw from MetaMask to Bank Account 

#4 Trust Wallet

Trust wallet

Trust Wallet, a Web3 wallet, facilitates crypto transactions, Bitcoin purchases, NFT management, and DApp exploration.

As a mobile app and browser extension, Trust Wallet prioritizes security through features like Secure Enclave and biometrics, safeguarding user privacy without sharing personal information. Overall, it offers a user-friendly interface and robust security.

Why choose Trust Wallet?

Trust Wallet is a user-friendly and secure mobile wallet supporting multiple cryptocurrencies, staking, and DApp browser integration. It’s part of the Binance ecosystem, providing a safe place to store funds with enhanced crypto features.

Key features:

  • Access to Web3 DApps and DeFi protocols.
  • Access to NFT marketplaces.
  • No requirement for personal data.

Pricing: Free.


  • Accessibility to Web3 DApps and DeFi protocols.
  • Support for NFTs and access to NFT marketplaces.
  • No need for personal data.


  • Advanced features may be difficult for beginners to navigate.
  • Most supported coins are only accessible on mobile devices.

📚Learn How to Withdraw From Trust Wallet?

#5 Atomic Wallet

atomic wallet

Atomic Wallet was founded in 2017 and is headquartered in Tallinn, Estonia.

Its user-friendly interface and decentralized architecture make it a top choice for managing a wide range of crypto assets, enabling effortless storage, transfer, and receipt of cryptocurrencies.

Additionally, it supports compatibility with other networks, such as Binance Smart Chain and Monero, expanding its versatility and attractiveness.

Why choose Atomic Wallet?

Atomic Wallet is a great choice for users who want a secure and versatile wallet for desktop and mobile. It supports instant exchange, atomic swaps, and cold staking. Additionally, it has a built-in exchange feature for easy cryptocurrency conversion within the wallet interface.

Key features:

  • Over 1000+ coins and tokens.
  • Instant Swap.
  • Cashback.
  • Rewards on staking ETH, ADA, BNB, SOL, TRX, NEAR, XTZ, HBAR, and other coins with 5-20% APR.
  • Private key encryption.
  • 24/7 live support

Pricing: Free.


  • No need for accounts, verification, or KYC for basic wallet functions.
  • Intuitive user interface.
  • Accessible 24/7 customer support.
  • 1% cashback.


  • Fixed 2% fee (minimum $10) for fiat-to-crypto purchases.
  • Pending integration with hardware wallets.
  • In June 2023, a security breach led to reports of missing funds from Atomic Wallet users’ accounts.

#6 Guarda wallet

guarda wallet logo

Launched in 2017, Guarda Wallet has transformed into a comprehensive platform providing secure digital wallets for easy storage and management of digital currencies.

With a firm commitment to decentralization, Guarda accommodates over 45 blockchains, 400K+ tokens, and various stablecoins. Its adaptable products work seamlessly across all browsers, operating systems, and smartphones, guaranteeing accessibility to users globally.

Why choose Guarda Wallet?

Guarda Wallet is an excellent option for users looking for a secure, versatile, and non-custodial multi-currency wallet with a user-friendly interface. Its features make it a convenient option for diverse crypto portfolios.

Key features:

  • Web, mobile, and desktop wallet options.
  • Prepaid Visa card.
  • Compatibility with Apple pay and Google pay.
  • Over 50 coins and 400k+ tokens.
  • Built-in exchange.

Pricing: Free.


  • Available on iOS and Android platforms.
  • No requirement to input personal data for wallet creation.
  • Strong security measures are in place.


  • Some users have reported high trading fees.
  • Security concerns arise from closed-source code.

#7 Exodus Wallet


Launched in 2015, Exodus is a user-friendly software wallet designed to manage and store Bitcoin and other cryptocurrencies while offering the flexibility to hold funds in different foreign currencies.

With mobile, desktop, and Web3 versions, Exodus crypto wallet supports a wide range of cryptocurrencies. Its intuitive interface is accessible on various platforms, including desktop (Windows, macOS, Linux) and mobile (iOS, Android). Key features include:

Why choose Exodus Wallet?

Exodus Wallet is a great option for users seeking a user-friendly, secure, and versatile desktop and mobile wallet supporting multiple cryptocurrencies, staking, exchange, and portfolio tracking. It also includes a built-in exchange feature for seamless cryptocurrency swapping within the wallet interface.

Key features:

  • Intuitive interface for a seamless user experience.
  • Built-in exchange capabilities.
  • Wallet-integrated staking rewards.
  • Availability on both desktop and mobile devices.

Pricing: Free.


  • Availability on iOS and Android platforms.
  • No requirement to input personal data for wallet creation.
  • Robust security protocols in place.


  • Reports of high trading fees by certain users.
  • Security apprehensions arising from closed-source code.

#8 logo, established in 2021 and licensed in Estonia, provides a secure wallet and a Crypto Card for utilizing Ethereum assets and various cryptocurrencies.

Additionally, it functions as a crypto neobank, offering IBAN for crypto transfers and an integrated exchange for purchasing and selling via credit/debit cards or SEPA bank transfers.

Why choose allows you to buy, sell, spend, and manage hundreds of cryptocurrencies with a user-friendly interface and claims of high-security measures. Moreover, they offer a crypto-powered debit card for real-world spending.

Key features:

  • 800+ cryptocurrencies.
  • card.
  • Cashback on card purchases in $SPEND tokens.
  • Fast onboarding.

Pricing: Free.


  • Support for multiple currencies.
  • Ability to earn interest on select cryptocurrencies held in the wallet.
  • Up to 3% cashback.
  • Claims to be fully insured against security breaches with a refund guarantee.


  • Lack of transparency.
  • Being a web-based wallet, it’s more susceptible to hacking.
  • Users lack complete control over their digital assets.

#9 Gemini Wallet


Gemini Wallet, founded by cryptocurrency pioneers Cameron and Tyler Winklevoss, provides a user-friendly interface with various buying and selling options.

The official website highlights its role as a cryptocurrency exchange and custodian, holding SOC1 Type 2 and SOC 2 Type 2 certifications for security. However, bear in mind that the exchange has experienced data breaches, resulting in users receiving phishing emails.

Why choose Gemini wallet?

Gemini offers support for multiple cryptocurrencies and a simple and intuitive interface. The wallet provides a convenient way to buy, sell, and hold digital assets.

Key features:

  • A wide range of digital assets is available.
  • Seamless fiat on-ramps.
  • Insurance coverage for specific digital asset losses.
  • Crypto rewards on purchases with the Gemini Credit Card.
  • High-security level with features like price alerts, recurring buys, and secure staking.
  • Regulated by the New York Department of Financial Services.

Pricing: Free to get.


  • Easy-to-use platform is suitable for beginners and experienced traders.
  • Offers a credit card with crypto rewards.
  • Supports a wide range of cryptocurrencies.
  • Strong security measures, including two-factor authentication.
  • Regulated, providing credibility and trust.


  • Complex fee structure.
  • Limited availability of the Gemini Credit Card (only in the USA).
  • Some features may be restricted based on location.
  • All investments carry risks, as acknowledged by Gemini.
  • Customer support responsiveness may vary.

Detailed review of the top cold wallets

#1 Ledger Nano X Wallet

ledger nano x

Established in 2014, Ledger is renowned for its top-tier cold wallets. Led by blockchain security specialists, it’s committed to fortifying the blockchain movement. Ledger tailors security solutions for banks, hedge funds, and high-net-worth individuals.

Their flagship product, Ledger Nano X, supports 1,800+ cryptocurrencies and works smoothly on iOS, Android, and Windows platforms.

Why choose the Ledger Nano X wallet?

Choosing the Ledger Nano X wallet offers top-notch security and convenience. Its offline storage, Bluetooth connectivity, wide coin support, and user-friendly design make it a secure and easy solution for safeguarding and accessing digital assets.

Key features:

  • Secure offline storage.
  • Wireless Bluetooth connection between the wallet and compatible devices.
  • Increased storage capacity.
  • Support of over 5,500 coins and tokens.
  • Staking capability and NFT support.

Pricing: €149.


  • Access via the Ledger Live mobile app.
  • Enhanced security measures.
  • Ample storage space.
  • Bluetooth connectivity.


  • Higher price point.
  • The setup process may be intricate.

#2 Trezor Model T


Trezor is a leading manufacturer of hardware wallets, with its premium offering being the Model T. It prioritizes security by keeping keys offline and requiring transaction confirmation on the device itself.

The Model T includes a microSD slot for encrypted storage, connects to mobile devices via USB-C, and features a user-friendly interface. It offers enhanced security and advanced capabilities compared to lower-cost Trezor models.

Why choose the Trezor Model T Wallet?

Choosing the Trezor Model T hardware wallet is a smart move for users who prioritize security. The Trezor hardware wallet provides advanced security measures, support for various cryptocurrencies, and compatibility with popular wallets and services to store and access your funds securely.

Key features:

  • A 1.54″ LCD screen for easy readability and interaction with the device.
  • 9,000+ supported coins and tokens.
  • Coin management in Trezor Suite.
  • Offers a 12-word Standard Backup and Shamir Backup for secure recovery of assets.
  • Works with desktop operating systems, browsers, and Android devices via USB-C.

Pricing: €179.


  • Quad-core ARM processor ensures fast performance.
  • Full ownership of your coins.
  • Convenient access to recovery seed.
  • Supports most major cryptocurrencies.


  • Does not support Bluetooth connectivity.
  • Higher price compared to other options.

#3 KeepKey Wallet

Keepkey wallet

KeepKey is a top hardware wallet that securely stores digital assets. It offers offline private key storage, easy backup and recovery, simple transaction display, seamless exchanges, and many cryptocurrencies.

With stress-free security, customizable transaction speeds, unlimited wallet addresses, and compatibility with various crypto needs, KeepKey gives users peace of mind and control over their digital assets.

Why choose KeepKey Wallet?

Select KeepKey Wallet for an affordable, secure, easy-to-use hardware wallet supporting multiple cryptocurrencies with offline private key storage.

Its sleek design, reasonable price, and integration with ShapeShift for direct crypto trading make it appealing for managing digital assets securely.

Key features:

  • Supports 7,000+ assets and 350+ chains
  • dApp Store.
  • Each device generates a 12-word recovery sentence.
  • Crypto exchange via the native Thorchain integration.
  • A native RESTful API.
  • Compatible with PC, Mac, and Linux.
  • Limitless wallet addresses on one device.

Pricing: $78.


  • High security.
  • A sleek and user-friendly design.
  • Integrates with Shapeshift for direct crypto-to-crypto trades.
  • Wide list of supported currencies.


  • Some users experience difficulties accessing customer support.
  • The retirement of the official Chrome app raises concerns about using unofficial software for recovery phrases.

#4 Ellipal Titan Wallet

Ellipal wallet

The Ellipal Titan wallet, also known as a cold storage wallet, is a secure air-gapped hardware wallet designed to store cryptocurrency offline securely.

It integrates with popular services like MetaMask and WalletConnect and emphasizes complete isolation from the internet, aiming to eliminate the risk of online hacking attempts.

Additionally, it provides excellent security features, a large touchscreen display, and a sturdy metal case.

Why choose the Ellipal Titan Wallet?

The Ellipal Titan wallet is ideal for those who value top-notch security, broad coin support, NFT capabilities, and user-friendly features in a portable hardware wallet.

Key features:

  • CC EAL5+ upgraded security against online and offline attacks.
  • QR code for private transactions.
  • A defence against physical, supply chain, and evil maid attacks.
  • A 4-inch Full Lamination IPS display.
  • Secret secondary wallet option.

Pricing: $169.


  • 5-minute setup.
  • Supports NFTs and over 10k coins and tokens.
  • High security with air-gapped architecture and multiple layers of protection.
  • Large touchscreen for easy use.
  • User-friendly mobile app.


  • Limited customer support options.
  • Longer delivery times are possible.
  • The steep learning curve for new users.


ngrave wallet

The NGRAVE ZERO is an extremely secure hardware wallet with air-gapped technology and a large touchscreen display. It supports thousands of cryptocurrencies, including Ethereum-based tokens and NFTs.

It also features a unique backup system called GRAPHENE, made of indestructible steel, for securely storing private keys. With top-notch security features and a user-friendly interface, the NGRAVE ZERO is an excellent choice for safeguarding digital assets.

Why choose NGRAVE ZERO Wallet?

The NGRAVE ZERO wallet offers top-notch security with features like offline and air-gapped functionality, cold storage, biometric sensor authentication, and EAL7 certification.

Key features:

  • 4″ touchscreen.
  • EAL7 certified.
  • Anti-tampering protection against physical attacks.
  • ZERO’s biometric sensor and a solid 8-digit PIN code.
  • It does not rely on USB or any network connection capability such as WiFi, Bluetooth, NFC, or 4G.
  • ZERO’s Operating System.
  • Stores up to 100 accounts.
  • Supports about 3700 tokens.

Pricing: €398.


  • Complete offline and air-gapped security.
  • Can resist physical attacks.
  • Holds the highest security certification in the blockchain and financial industry.
  • Offers the convenience of cold storage for digital assets.


  • Expensive.
  • Does not fully support decentralized finance (DeFi) protocols or dApps.
  • Does not offer Bluetooth or NFC connectivity, which might limit certain wireless functionalities.


  • All information provided is dated 1 March 2024 and may have been updated since. Please check each platform’s official website for the latest information.

What is a crypto wallet?

A crypto wallet is a tool, either software or hardware, that lets users hold, manage, and use cryptocurrencies securely. A crypto wallet stores the private keys needed to access digital assets like Bitcoin and Ethereum.

📚Related: Ethereum Wallet, Tron Wallet, USDC Wallet

Why do I need a crypto wallet?

A crypto wallet plays an essential role in securely storing private keys, facilitating transactions, accessing decentralized apps, managing digital assets, and ensuring security in the cryptocurrency space.

It grants ownership, control, and connectivity to the blockchain network, allowing for effective sending and receiving of cryptocurrencies.

Crypto wallets are essential for managing balances, making transactions, connecting to decentralized applications (dApps), and ensuring security. However, users must protect their private keys to prevent unauthorized access and potential loss of funds.

How does a crypto wallet work?

A crypto wallet operates by holding private keys, which give access to public keys linked to cryptocurrency balances on the blockchain. It doesn’t store the actual cryptocurrency but offers a way to send, receive, and manage digital assets securely.

Crypto wallets exist in different forms, such as hardware devices, software apps, and even paper records, each offering different levels of security and functionality.

What are the different types of cryptocurrency wallets?

To cater to different needs and preferences, a wide range of cryptocurrency wallets are available. Here is an overview of the different types of crypto wallets.

Hot Wallets

Hot wallets are online cryptocurrency wallets. According to specialists, the hot wallet app allows users to view transaction history, send and create new Bitcoin transactions, receive Bitcoin, sign them, and send them to the network.

Moreover, hot wallets are good for regular transactions and quick access to your funds, but they’re more at risk from online threats.


  • Easy to set up and use.
  • Convenient for frequent trading as they are connected to the internet.
  • Often free to use.


  • Vulnerable to hackers due to being online.
  • Risk of losing funds if the exchange closes.

Some hot wallets are software installed on various devices, while others are integrated with cryptocurrency exchanges and accessed as services through web browsers.

Hot wallets are divided into:

Mobile wallet

A mobile wallet is an application on your mobile device for managing keys. These software wallets facilitate services where individuals can make and receive payments through mobile applications offered by companies.

According to scientists, mobile wallets and their applications are a growing trend among the younger population, typically aged 18-25.

These wallets are considered safe. However, regular backups are essential due to common phone issues, theft, and breaches. Backup storage for mobile wallets varies, either on the device or the cloud, depending on the application.


  • Easier way to manage payments.
  • Faster transactions compared to traditional methods.
  • Store multiple cards and access them easily.
  • Provides financial services to those with limited access.


  • Relies on functional devices; loss or damage can lead to data loss.
  • Not all merchants accept digital payments, restricting usage.
  • Connectivity issues and software updates may disrupt service.

📚Read about Mobile Wallets: The Future of Payments in a Connected World

Desktop Wallets

Desktop wallets are software programs installed on personal computers, offering users full control over their keys and funds. These software crypto wallets store sensitive data locally, typically encrypting it for security.

It’s important to regularly back up your wallet to prevent loss or damage, with most applications providing recovery options using a seed phrase.


  • Accessible 24/7 using desktops or laptops.
  • Safer than other wallets as private keys are stored offline, reducing fraud risks.
  • No third-party interference is required for transactions.
  • Offers a reliable server for storing private keys.


  • Technical functionalities may make desktop wallets harder to use at times.
  • Limitations if you want to use crypto assets on the go.
  • While more secure than web-based wallets, they are less secure than hardware wallets.

Online Wallets

An online wallet, also known as an e-wallet, functions as a prepaid account for users to store money for future online transactions.

Typically, the private key of an online wallet is stored on the provider’s server, posing a risk of losing all assets if the server is compromised.

Moreover, authentication for online wallets commonly relies on standard login credentials. However, if registration is necessary, the wallet provider may link a wallet address to a specific user, potentially compromising their anonymity.


  • Convenient storage of virtual cards for quick access.
  • Enhanced security through data encryption.
  • Advances financial services, especially in emerging markets.
  • Real-time transaction monitoring for efficient expense management.


  • Limited acceptance at some retailers.
  • Dependence on devices, risking loss or damage.
  • Potential security breaches of personal financial information.

Web Wallets

A web wallet is a type of online wallet. These platforms enable users to store, send, and receive cryptocurrencies directly via their web browser.

While web wallets offer convenience as they require no installation and can be accessed from anywhere, they are generally regarded as less secure. Additionally, forgetting your login or private key can result in losing access to all stored assets.


  • Easy access to cryptocurrency via web browsers for quick transactions.
  • Accessible from any internet-connected device, offering flexibility.
  • Enable swift transactions through cloud-based services.
  • Simple interfaces for mainstream users.


  • Not all merchants accept digital payments, limiting usage.
  • Dependency on internet-connected devices poses risks if lost or compromised.
  • Risk of data breaches leading to identity theft and fund loss.

Cold Wallets

Cold wallets are disconnected from the internet, which offers enhanced security. A cold wallet (or offline wallet) is used to securely store and generate private keys offline for confirming transactions.

Nevertheless, they are less user-friendly for regular trading. While cold wallets prioritize security by keeping it private, hot wallets offer convenience and ease of access.


  • Provide better security as private keys are stored offline.
  • Less vulnerable to hacking compared to hot wallets.


  • They can be expensive.
  • They require extra steps for trading and are less convenient for frequent transactions.

Cold wallets are divided into:

Hardware Wallets

Hardware wallets, the most secure option, remaining offline, provide enhanced security. Resembling and functioning like a USB drive, this physical hardware device requires a computer and a Chrome-based app to store private keys offline.

However, losing hardware wallets means it cannot be restored. The advantage of the hardware wallet is that users maintain full control over private key management. Interestingly, most hardware wallets are often paired with software or online wallets for transactions.


  • Offers high security by storing private keys offline.
  • Supports multiple digital currencies.
  • Allows backup and recovery with recovery phrases.
  • Provides durable physical devices.


  • More expensive than other wallet types.
  • Risk of permanent fund loss due to physical damage or loss of device.
  • Requires time to learn setup and usage effectively.
  • Some models have limited connectivity options with a single USB connection.

Paper Wallets

Creating a paper wallet involves writing down essential information like the private key on a piece of paper. However, a paper wallet is highly impractical due to its lack of technological features.


  • Keys are kept offline to avoid digital threats.
  • Users have complete control without relying on third parties.
  • It requires only paper and printer resources, making it inexpensive.
  • Easy to transfer or gift without the need for online transactions.


  • Susceptible to damage or loss from fire, water, or tearing.
  • Misplacement results in permanent loss of access.
  • Insecure printing exposes keys to unauthorized access.
  • Manual entry increases the risk of human error and potential fund loss.
  • Can be outdated or incompatible with more advanced technologies.

📚Read More: Different Types of Crypto Wallets

What are the differences between custodial wallets and non-custodial wallets?

The main difference between custodial and non-custodial wallets is how the funds are kept safe.

Custodial Wallets

A custodial wallet does not grant users access to their private keys. The custodian is responsible for safeguarding the crypto tokens.

Entities that hold private keys on their behalf should be categorized as Virtual Asset Service Providers (VASPs). Custodians can be cryptocurrency exchanges and wallet service providers that offer such interfaces and software.

Custodial wallet creation is typically complimentary, with these intermediaries primarily generating revenue from trading fees. They function like banks, furnishing accounts for engaging with the financial system.

📚Read about The Best Custodial Wallets for Crypto.

Non-custodial Wallets

Users of non-custodial wallets must keep their private keys safe; it’s their responsibility. However, this can make non-custodial wallets vulnerable to cyber threats.

Furthermore, these wallets are inexpensive and easy to set up and use, giving access to decentralized finance and other peer-to-peer apps for affordable financial services and products.

📚Read about Non-Custodial Wallet Explained

How to Choose a Crypto Wallet

There are a few aspects you should consider while choosing a crypto wallet. Here are the most important ones.

#1: Wallet type

When selecting a wallet, consider your needs. For example, hot wallets, which operate online, offer convenience and are often free but provide less security. They are suitable for everyday transactions.

On the other hand, cold wallets, like hardware ones, operate offline and offer higher security, making them ideal for storing larger amounts. These wallets are better for long-term storage or significant investments.

Also, consider whether you want a custodial or non-custodial wallet.

#2: Security

Different types of Tether wallets offer varying levels of security. To safeguard your USDT tokens, it’s essential to consider several key security measures:

  1. Encryption and password protection: Ensure the Tether wallet employs advanced encryption techniques and password protection to secure your Tether holdings.
  2. Two-factor authentication (2FA): Choose a Tether wallet that supports 2FA to provide an additional layer of security and prevent unauthorized access.
  3. Recovery phrases and backup options: Look for a Tether wallet that offers recovery phrases and backup options, enabling you to restore your wallet in case of device loss or malfunction.
  4. Biometric security features: Some Tether wallets include biometric security features like fingerprint or face recognition to enhance asset protection.
  5. Hardware wallet integration: Consider secure wallets that integrate with hardware wallets to boost security.

#3: Pricing

The pricing varies depending on the type of wallet. Hardware wallets have a fixed price, ranging from €50 to €200. Additionally, the fees for depositing and withdrawing crypto depend on third-party providers.

In contrast, hot wallets are typically free to obtain. However, they still involve deposit and withdrawal fees. Reviewing these fees carefully is important, as they vary widely based on whether you’re transferring crypto to another wallet, sending it to another user, or using it on an exchange.

#4: Usability and accessibility

Before choosing a cryptocurrency wallet, ensure it is available in your country and supports the tokens you intend to store. Furthermore, ensure the wallet offers all the tools you need for the best experience.

Regardless of your experience level, having a user-friendly interface is crucial for easy transaction navigation. Opt for wallets combining advanced features with a simple, intuitive design to accommodate beginners and experienced users.

Also, it should show real-time market data and send notifications for updates. Consider wallets available on Android, iOS, and the web for accessibility on different devices.

📚Read More: How to Choose a Crypto Wallet

How to Set Up a Crypto Wallet

Setting up a crypto wallet usually depends on its type.

For hot wallets

Setting up a hot crypto wallet is easy:

  1. Pick a trusted provider and download their app from their official site.
  2. Create your account and set a strong password.
  3. Write down the recovery phrase they give you and keep it safe.
  4. You can add funds by sending cryptocurrency to your wallet’s address.

Keep in mind that the actual process depends on the wallet.

For cold wallets

Setting up a cold crypto wallet, also called a hardware wallet, involves these steps:

  1. Choose a cold wallet and buy it from the official website to avoid scams.
  2. Follow the instructions to set up the device:
  • Connect it to your computer with a USB cable.
  • Install the wallet’s software.
  • Create a PIN and a recovery seed phrase.
  1. Keep your recovery seed phrase safe. Write it down on paper and store it in a secure place.
  2. You can install extra apps for different cryptocurrencies if needed.
  3. Start receiving crypto by sharing your wallet’s public address.

For detailed help, check the provider’s official site.

📚Read More: How to Create a Crypto Wallet

Looking for a crypto wallet for daily transactions?

Experience the simplicity and convenience of purchasing crypto with swissmoney!

With swissmoney, you have an all-in-one solution for managing your finances, whether fiat or cryptocurrency.

Enjoy effortless spending, sending, and receiving of both currencies, and purchase Bitcoin, Ethereum, and other cryptocurrencies on a single user-friendly platform.

Additionally, trust in swissmoney’s high-level security and regulatory compliance. Furthermore, you benefit from dedicated IBAN accounts and virtual payment cards that you can instantly top up with crypto.

Don’t pass up on the ultimate crypto experience – opt for swissmoney today!

An Easier Way: swissmoney App
An Easier Way: swissmoney App
Fiat or crypto, Android or iOS we promise you the best Swiss quality experience.
Get it now


In summary, choosing the best hot wallet comes down to personal needs and preferences. Hardware wallets like Ledger Nano X, Trezor Model T, Ellipal Titan, and NGRAVE ZERO offer top-notch security with offline storage. They’re ideal for those who prioritize protecting their assets from online threats.

Alternatively, software wallets such as swissmoney wallet, Coinbase Wallet, and DeFi wallet provide convenience and accessibility. They’re great for users who value ease of use and access to a wide range of features like staking and swapping.

Ultimately, the best crypto wallet depends on what matters most to you: security, convenience, or functionality. There’s a crypto wallet out there to suit every user’s needs in cryptocurrency management.

Methodology: How did we choose the top crypto wallet?

We comprehensively assessed the best crypto wallets, analyzing independent sources and user feedback. Our evaluation involves features, security measures, pricing, advantages and disadvantages, sourcing information from official websites and reputable reviews.

We prioritized crypto wallets with robust security, competitive fees, and advanced trading capabilities. Our conclusions are outlined in the summaries above.


What is a crypto wallet address?

A wallet address is a unique combination of letters and numbers that identifies the owner of a specific cryptocurrency stored in a blockchain wallet. These addresses are generated uniquely and are utilized to receive cryptocurrency transfers.

They function similarly to phone numbers or email addresses in traditional financial electronic transfers. Typically, you share crypto wallet addresses when receiving cryptocurrency from friends, family, or exchanges.

📚Read about What is a Wallet Address

How to transfer cryptocurrency to a wallet

To transfer cryptocurrency to a wallet, follow these steps:

  1. Choose a trusted wallet that works with your cryptocurrency.
  2. Follow the instructions to install and configure the wallet.
  3. Locate the unique code (public key) to create a receiving address.
  4. Go to your current wallet’s sending section, choose the cryptocurrency, and enter the recipient’s wallet address.
  5. Double-check the transaction information for accuracy.
  6. Submit the request to start the transfer, and be aware that some transactions may require a small fee for processing.

Remember, the process might vary depending on the wallet you’re using.

What are the best crypto wallets for beginners?

swissmoney Wallet, Trust Wallet, and Coinbase Wallet are ideal for beginners due to their simplicity and compatibility with various digital assets.

What are the best crypto wallets in terms of security?

Here are some of the most secure crypto wallets:

  • Ledger Nano X: A highly secure hardware wallet supporting many cryptocurrencies.
  • Trezor Model T: A trusted hardware wallet with high security and wide compatibility.
  • swissmoney: A software wallet with high-level security and a user-friendly interface.
  • MetaMask: A well-known software wallet with high security, ideal for DeFi platforms.
  • Trust Wallet: Known for its security and user-friendliness, it is ideal for beginners.

Which hardware wallet is the best for crypto?

Here are some of the best hardware crypto wallets:

  • Trezor Model T
  • KeepKey wallet
  • Ellipal Titan wallet
  • NGRAVE ZERO wallet

What are the best crypto wallets for advanced users?

For experienced users, top crypto wallets for security and features include:

  • Ledger Nano X: Known for high security and support for many cryptocurrencies.
  • Trezor Model T: Offers strong security, easy interface, and works with various digital assets.
  • Exodus wallet: Popular for multi-currency support, decentralized exchange integration, and customization.
  • Coinbase wallet: Secure platform for managing digital assets favoured by experienced users.

What are the best free crypto wallets?

Almost all hot wallets are free to obtain. These software wallets include swissmoney wallet, Coibase Wallet, DeFi Wallet, MetaMask Wallet, and Trust Wallet.

However, while they may be free to download and store crypto, it’s essential to note that they often incur various fees for specific services. These fees can include transaction fees, network fees, and fees for certain features or services the wallet platform provides.

What are the best crypto wallet apps?

Some of the best crypto wallet apps include the swissmoney wallet, Coibase wallet, Trust Wallet, MetaMask wallet, and Exodus crypto wallet.

What’s the best Bitcoin wallet for Android?

The best Bitcoin wallet apps for Android users include the swissmoney wallet, Exodus crypto wallet, and Trust wallet.

What is the best crypto wallet for a phone?

Here are some of the best crypto wallet apps for phones:

  1. swissmoney wallet
  2. Coibase wallet
  3. MetaMask wallet
  4. Trust Wallet
  5. Exodus wallet

What is the best crypto platform for day trading?

Kraken, Coinbase, ByBit, and are some of the best crypto platforms for day trading. However, while choosing a platform for day trading, consider:

  1. High liquidity: Choose platforms with lots of trading activity.
  2. Low fees: Pick platforms with affordable fees.
  3. Advanced features: Look for tools like margin trading and stop-loss orders.
  4. User-friendly interface: Use platforms with easy-to-use interfaces.
  5. Security and regulation: Opt for platforms with high-level security measures and regulation compliance.

📚Read about the 11 Best Crypto Exchanges for Day Trading

What is the best decentralized crypto wallet?

Some of the best decentralized crypto wallets are:

  • MetaMask: Popular as a browser extension and mobile app, ideal for using decentralized applications (dApps) on Ethereum and other blockchains.
  • Trust Wallet: Supports multiple digital assets like Bitcoin, Ethereum, and Binance Coin, providing an easy-to-use experience for managing cryptocurrencies.
  • Coinbase Wallet: Easy to use and supports multiple cryptocurrencies, offering a decentralized option for storing digital assets.

What is the best crypto wallet for money withdrawal for beginners?

Choosing the ideal wallet for withdrawing cryptocurrency depends on what you need and like. But there are some really good choices:

  • Coinbase Wallet
  • Exodus
  • MetaMask
  • Electrum
  • Trust Wallet


  • swissmoney

These wallets are recommended for beginners due to their user-friendly interfaces, security features, and ease of use, making them suitable for those new to managing cryptocurrencies and looking to withdraw money effectively.

Learn more:

Živilė Šarkauskaitė

Živilė is a writer with a diverse background, having worked with tech start-ups and pioneering brands across various industries. Her profound interest in progress and innovation drives her to the field of Fintech, a realm that sparks her curiosity and inspires her to share insights with others.

Info Icon


Please be advised that the information presented in this article is intended for general informational purposes only. It should not be construed as professional advice from swissmoney. It is important to note that swissmoney does not act as a financial adviser, and individuals are strongly encouraged to seek independent advice from qualified legal, financial, or accounting professionals before making any decisions related to cryptocurrency investments. Furthermore, investing in cryptocurrency assets carries inherent risks, and individuals should be aware that they may potentially lose all of their invested capital.

Explore related articles

Get app
We use cookies

swissmoney companies use cookies to provide you with tailored information about our services and to improve the performance of our website and (or) app. If you agree to all cookies used, please click on the "Accept" button. If you wish to change your cookie settings, please click on the "Choose cookies" button, and if you wish to refuse all of these cookies, please click on the "Reject" button. Your cookie preferences will be stored for one year.

Important: Some cookies are essential for the proper functioning of this website. The use of these cookies is based on legitimate interest and therefore consent to their recording is not requested. For more information, see swissmoney Cookie Statement.