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The Best Crypto Wallet For 2021

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The Best Crypto Wallet For 2021

It is quite understandable if you are struggling to identify the best crypto wallet platform for you. The multitude of options available today makes it difficult to sieve the mediocre offerings from the quality products. In light of this, we plan on alleviating your decision-making process by comparing and reviewing 10 top cryptocurrency wallets.

But first, let us discuss the factors that governed our analysis.

The methodology

Comparing two or more platforms is always a tricky task. To ensure that we reach an unbiased verdict, we decided to focus on the security of the wallets, their functionalities, the number of cryptocurrencies supported, user-friendliness, and other vital factors. In the end, we could come up with a quality comparison technique that suits the purpose of the research and determine the strengths and weaknesses of each reviewed crypto wallet. Below are the cryptocurrency platforms featured in this research.

Crypterium Wallet

Crypterium ordinarily functions as a crypto bank. Hence, it is no surprise that its multi-currency wallet infrastructure provides a suite of services that is way more advanced than what most competing platforms offer. The wallet features insurance-powered cold storage security, a savings account, crypto debit card integrations, an exchange facility, and much more. Also, it is possible to purchase and sell cryptocurrency with bank cards. For its exchange service, the wallet utilizes an AI-enabled bid-ask matching system to integrate the real-time exchange rates of 10 reputable trading platforms and determine the best for each transaction. On the downside, there have been concerns raised over their customer support and the transaction limits imposed on users. Other than that, Crypterium has established itself as a viable option.

Pros

  • It provides cold storage and insurance service
  • It offers an interest-accruing savings account
  • Comes with an exchange facility
  • Beautifully designed user interface
  • Support crypto debit card feature
  • Allows fiat-enabled crypto purchases

Cons

  • Average customer support
  • Unsavory transaction limits

Trust Wallet

Trust Wallet is a mobile phone wallet powered by Binance. The wallet is designed to integrate effortlessly with Ethereum, which translates to superior compatibility with ERC20 tokens. More importantly, it incorporates decentralization and stores keys locally. Therefore, it comes with no extra charges other than the fees paid to miners. Besides, users do not require to submit personal information or scale KYC to access the wallet. Also, you can purchase crypto thanks to its multicard payment processor. However, it is not suitable as a storage platform for Bitcoin, BCH, and the likes.

Pros

  • Great as an ERC20 wallet
  • It is decentralized
  • No extra cost
  • Privacy-focused

Cons

  • It does not support Bitcoin.

Coinbase Wallet

While most crypto proponents know about Coinbase exchange, not many know that it has a software wallet of its own. This wallet is easy to use, intuitive, supports most of the top cryptocurrencies, and offers top-notch security. Importantly, it integrates nicely with the larger Coinbase ecosystem. Therefore, depending on your location, you can purchase crypto, trade them, and access the Coinbase card services. It is worth mentioning that Coinbase is not as versatile as some of the alternatives, especially as regards the number of supported cryptocurrencies.

Pros

  • Simple and intuitive
  • Highly secure
  • Integrate with a robust crypto ecosystem

Cons

  • Support a handful of cryptocurrencies, especially the top ones.

Jaxx Wallet

Jaxx is one of the most versatile and flexible crypto wallets you will find today. With over 90 cryptocurrencies supported, Jaxx makes it easier to track multiple and diverse portfolios. Plus, it also has a built-in exchange and allows cross-platform pairing. Other than a security incident that questioned the viability of the wallet in 2017, we have not had any cause to criticize the safety of the platform. However, as a result of this blemish, it is advisable to back up the wallet regularly. It does not help that the wallet does not provide a second layer of authentication.

Pros

  • It supports a large variety of coins
  • It offers exchange features.

Cons

  • It does not implement 2FA

Exodus

Like Jaxx, Exodus is a multi-currency wallet available as a desktop or mobile platform. One thing that sets this wallet apart is its focus on usability and design. This decision makes it a suitable option for newbies. Nevertheless, it does not implement custom fees for Altcoin-based transactions. Hence, the transaction fees imposed on users during congestions may be outrageous. Furthermore, there is no option to activate 2FA.

Pros

  • It supports multiple cryptocurrencies
  • It is easy-to-use

Cons

  • No 2FA
  • No custom fees for altcoins

Luno

Luno is a good crypto wallet option for crypto holders in developing countries as it supports crypto purchases with fiat currencies, including NGN, EUR, ZAR, IDR, and MYR. It also comes with an in-built exchange. Luno partnered with BitGo to enable added security for users’ funds and implements 2FA for a sturdier authentication system. The only downside is that the transaction fees charged for instant buys are not uniform.

Pros

  • Great for emerging markets
  • It has an inbuilt exchange
  • Relatively easy to use
  • Formidable security infrastructure

Cons

  • Confusing fee policy
  • Supports few cryptocurrencies

Cryptonator

Cryptonator delivers wallet services for a selected number of coins, including Bitcoin, Litecoin, Dash, Monero, Zcash, and Ripple. This platform comes with a suite of services designed for merchants. Likewise, it comes with an in-built exchange and offers swift swaps for a fee. It is worth mentioning that Cryptonator is an unregulated wallet. Hence, it does not impose any KYC requirements. While this may interest privacy-focused crypto holders, it is critical to consider the risks involved before utilizing the platform.

Pros

  • It is privacy-focused

Cons

  • It is unregulated
  • Transaction fees are considerably high
  • Provides storage facility for only a selected number of coins

Mycelium

Mycelium is a very well-designed wallet solely compatible with Bitcoin. More so, it is strictly a mobile wallet. In other words, desktop users cannot use this offering. On the upside, Mycelium integrates seamlessly with Ledger and Trevor, which are established hardware wallets. The platform has implemented an array of privacy-focused encryptions to ensure that users’ data are secure.

Pros

  • It is a very secure wallet
  • Privacy-focused offerings
  • Supports hardware wallets

Cons

  • Not beginner-friendly
  • Strictly a mobile wallet
  • Restricted to Bitcoin holders

BTC.com

BTC.com is an open-source wallet designed for Bitcoin and Bitcoin Cash. It allows users to execute multi-signature transactions. Excluding the transaction fees charged on the supported blockchains, BTC.com does not impose extra fees for transferring or receiving crypto. Unfortunately, this platform does not offer features to buy or exchange digital assets.

Pros

  • It is an established offering
  • Open-source wallet
  • It is a secure platform
  • No hidden charges

Cons

  • Only support two coins
  • No in-app exchange functionalities

Electrum

Electrum is another historically sound bitcoin wallet, having been introduced in 2011. It has hardware wallet support and provides the tools to set custom transaction fees. Also, it has incorporated several security features like 2FA and multi-sig.  However, note that it is not beginner-friendly, and it was once guilty of ignoring or being oblivious to a serious security loophole.

Pros

  • It is one of the oldest and most reliable wallets
  • It allows users to set custom transaction fees

Cons

  • It is solely a bitcoin wallet
  • History of security negligence
  • A bit complex to use.

What Is Our Verdict?

Having explored the strengths and weaknesses of the platforms featured in this article, it was clear that Crypterium stands out as the most versatile and functional crypto wallet. The interests generated from the wallet’s savings accounts offer users a side income. Similarly, other crypto bank services featured on the wallet expose holders to a broad array of ways of optimizing their crypto experience. Nonetheless, we advise that you do your research before adopting Crypterium or any of the above-listed platforms.

 

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Posted-In: BTC PeersCryptocurrency Markets Reviews

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