To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Rates Investing Products.Ī crypto wallet, also known as a digital wallet, is a software program that stores private and public keys used to interact with a blockchain network and manage cryptocurrency. Other areas measured include, but are not limited to, whether the wallet provides educational resources and live charts and support for non-fungible tokens.įor each ranking, the sum of weighted values across all or some of these key factors was calculated to award each crypto wallet an overall rank. Previous security breaches or hacks were also noted.
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Some of the features assessed in both rankings include whether the wallet recoups stolen assets and provides several security measures (e.g., two-factor authentication, password encryption, etc.). With security paramount when it comes to crypto storage, security was heavily weighted in the scoring of Best Exchange/Hot Wallets and Best Cold Wallets. Additional data sets were used to evaluate costs and fees for Best Cold Wallets, such as the initial cost for a hardware storage solution. Fees for Best Exchange/Hot Wallets were assessed on a range of costs of fees charged to users, such as fees for moving coins in or out of a wallet, associated conversion costs and transactional costs.
Fee structures were assessed differently for Best Exchange/Hot Wallets and Best Cold Wallets. Types of customer support available, ranging from phone, email and live chat to 24/7 support, as some prime examples. This metric also measures utilization, such as the ability to convert coins within the wallet. But both types of wallets were measured for exchange integration(s) and staking accessibility. The approach for this metric differed for Best Exchange/Hot Wallets and Best Cold Wallets. We put a specific focus on the availability of the most popular 20 cryptocurrencies. The number of supported major cryptocurrencies by market capitalization. The number of popular stablecoins supported, with particular emphasis on Tether, USDC, Dai, TrueUSD and Paxos Standard. From the data gathered, each wallet was scored and assessed based on seven key variables: The security incident impacted the exchange, and it was not related to the DeFi Wallet.įorbes Advisor performed an in-depth assessment of the features and options offered by the leading crypto wallets. Note that parent company experienced a hack in January 2022, but the company said no funds were compromised. You can even earn rebates on select tokens.Ĭ DeFi Wallet’s security features entail two-factor authentication (2FA), password encryption and biometric authentication. While Ethereum staking isn’t available, you’ll be able to stake other coins like Cosmos (ATOM) and ’s native token Chronos (CRO). The wallet supports more than 800 types of crypto assets, including popular stablecoins and the top 20 cryptocurrencies by market capitalization. If you’re looking for the right place to park Bitcoin, Ethereum and USD Coin (USDC) under one roof, this might be the wallet for you. Users can easily access from their wallet to buy and sell crypto. Ledger wallets are an excellent choice if you wish to securely manage your digital assets in a hardware is another leading crypto exchange, and the DeFi Wallet is dedicated to storing decentralized finance ( DeFi) crypto assets. With their intuitive design and easy-to-use interface, Ledger wallets have become an industry leader in hardware wallets. The company also offers 24/7 customer support and is constantly developing new products to meet the growing needs of its customers. Ledger wallets have numerous security protocols in their products, such as two-factor authentication, secure enclaves and encrypted backups. They also offer a range of apps like the Ledger Live app which lets users easily manage their wallets and make transactions. Ledger’s products range from entry-level models like the Nano S to more advanced models like Ledger Blue. The company produces hardware wallets that are used to securely store cryptocurrencies like USDC and USDT. Ledger was founded in 2014 by Eric Larchevêque and is headquartered in Paris, France.
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