Best Cryptocurrency Wallets for 2018
Best Cryptocurrency Wallets
You may find it convenient to keep your funds on an exchange; however, that convenience comes at a cost. Whether it’s due to hackers, a frozen account, or the exchange running off with your money, you may wake up one day to find yourself empty-pocketed. Always remember the adage: Not your keys, not your crypto.
On a positive note, you have plenty of options in which you can store your cryptocurrency. So many that it may make you dizzy. Well, we’ve got your back. We break down the best cryptocurrency wallets (hardware and software), so you can have an easier time picking one that’s right for you.
|Wallet||Wallet Type||Security||Web Interface||Mobile App||Desktop Client||Price||Review||Rating|
Best Cryptocurrency Wallets – Hardware
If you don’t mind shelling out some cash, you should consider a crypto hardware wallet. They’re flat out more secure than their software counterparts. Even if you start out with a free software wallet, we recommend that you make the switch to hardware as soon as you can.
Ledger Nano S ($99.99)
The Ledger Nano S is one of the best crypto hardware wallets on the market right now. More than one million wallets have been sold, and customers consistently give it glowing reviews.
The physical wallet is about the size of a thumb drive and connects to your computer via USB cable. Even if you’re a crypto novice, you shouldn’t have much trouble setting up and using the Ledger Nano S. The company behind it provides ample resources to help you feel at ease as you transfer your crypto to and from the wallet.
You access your funds on the wallet using a four to eight digit PIN code that you set when you first set it up. If you forget your PIN or lose the physical device, you additionally have a 24-word recovery phrase to re-access your account.
The Ledger Nano S is as secure as they come, and the Ledger team has swiftly and successfully fixed any vulnerability that has popped up.
Trezor One (83.49 EUR)
The Trezor One is in the same class as the Ledger Nano S. Although users report that the wallet is slightly more complicated to set-up than the Ledger, they share many of the same benefits.
The Trezor One includes a physical wallet about the size of a Tamagotchi and a USB to connect it to a computer. The USB connection is limited, meaning that even if you interact with an infected computer or one with malware, your cryptocurrency will remain safe.
You access your funds through the Trezor Bridge, a simple application that connects your wallet to your internet browser. It’s available on Windows, Mac, and Linux operating systems.
If security is a priority of yours, you can rest easy. The Trezor team is so confident with the reliability of their wallets that they’ve publically listed every issue their wallets have encountered, how they fixed it, and how long it took.
The Trezor One is capable of holding over 500 different coins, so it’s likely that if you own it, you’ll be able to store it.
A tier down from the Ledger Nano S and Trezor one, albeit still a great option, is KeepKey. Unlike the small screens of the Ledger Nano S and Trezor One, this wallet has a large, easy-to-read display right on the physical device.
The KeepKey isn’t as notable as the two previously mentioned wallets, but that shouldn’t deter you. The wallet is just as secure, and the firmware powering it is entirely open-source, so you can audit it yourself.
KeepKey is more limited in the crypto you can store on it with support for just 45 coins right now. It does have a built-in ShapeShift integration, however, so you’re able to exchange any one of the cryptos with any other one directly in the wallet.
For a slightly higher price, you have the Ledger Blue and Trezor Model T at your disposal as well. These two wallets are physically larger than the Ledger Nano S and Trezor One and hold more apps and cryptocurrencies.
Best Cryptocurrency Wallets – Software
Although we highly recommend securing your cryptocurrency in a hardware wallet, we understand that it may not be right for you at this time. Well, you’ve got a bunch of great software options to pick from as well. And, the majority of them are free.
Exodus is one of the most beautifully designed cryptocurrency wallets in the industry. The interface is intuitive, and any level of blockchain enthusiast should have no issue working with it. Even if you do run into issues, the support site has ample resources to walk you through any problem.
Going beyond the duties of a standard wallet, Exodus also includes a portfolio tracker and a ShapeShift-powered exchange. These features enable you to manage your assets and rebalance your portfolio more seamlessly.
Unfortunately, the Exodus wallet is not completely open-source, so you’re trusting the developers to some extent not to run away with your crypto. That being said, CTO JP Richardson is a respected figure in the development community and has created over 200 open source libraries.
Exodus supports almost 100 cryptocurrencies with new ones continuously on the horizon. It’s available on Windows, Mac, and Linux operating systems – no mobile options yet.
Jaxx Liberty (Free)
Jaxx, now rebranded Jaxx Liberty, is another solid cryptocurrency software wallet. It has a clean interface and a whole slew of new features. Not only can you track your portfolio and follow market data, but you also receive blockchain news and have access to block explorers directly in your wallet.
You don’t need to input any information or create an account to handle the wallet. After downloading it, you get a 12-word passphrase that you enter to access your funds from any supported device. Your private keys are held directly on your device, so there’s no need to worry about rogue Jaxx employees stealing your data.
With an average response time of two hours, Jaxx customer support is top notch.
Right now, Jaxx Liberty supports just over 70 different digital assets and a ShapeShift integration to exchange them. The wallet is available on Android and iOS mobile devices and tablets, Mac and Windows operating systems, and as a Google Chrome extension.
Edge is mobile-only cryptocurrency wallet that specializes in security. It’s simplified the wallet authentication process by enabling you to log in via username and password. This method is significantly less cumbersome than having to remember/store a complex passphrase. You can also log in through a touch ID or pin that you create.
As an extra layer of security, Edge encrypts your data before storing it on redundant cloud servers. The advantages of this method are two-fold. First, the encryption prevents Edge employees from viewing your personal data. Second, redundant cloud storage ensures that you can access your cryptocurrency even if Edge disappears.
Compared to the other wallets on this list, Edge’s coin support is lacking with only 15 supported currencies currently. However, you can buy/sell certain cryptos directly in the wallet – a feature unique to Edge. Like both Exodus and Jaxx, exchanges between currencies is possible in the wallet as well.
The Edge wallet is available for Android and iOS devices.
In 2018, we’re starting to see a rise in the number of cryptocurrency software wallets. Ethos recently launched a mobile cryptocurrency wallet and Omisego provides an SDK for any developer to build on to create their own cryptocurrency wallet. Expect the number of software cryptocurrency wallets to continue to grow.
Best Cryptocurrency Wallets – Which to Choose?
Congratulations. You’re already taking the right steps in doing your due diligence to find the best cryptocurrency wallets instead of blindly selecting one. You should have a great experience working with any of these cryptocurrency wallets.
If security is your top priority, a significant portion of your net worth is in cryptocurrency, or you plan on holding for at least a year, we highly recommend choosing one of the hardware wallet options.
If not, we still recommend one of the first three wallets. But you should be fine with one of our recommended software options if you don’t want to pony up the cash. Either way, storing your cryptocurrency in a wallet is still infinitely more secure than leaving your coins on an exchange. So, what are you waiting for? Pick one up today.