We know that Cryptocurrencies are ruling the present world like a boss. Well, if you are an investor then we don’t need to tell you the meaning of investing in Cryptocurrencies. However, if you are a beginner and trying your luck in Cryptos then here we are with the post that will tell you about the best Digital Crypto Wallets of 2023.
What are Crypto wallets? If you are totally new to the NFT word then let us tell you that Crypto wallets are the tools via which you can buy, trade, and sell cryptocurrencies. There are basically two types of Crypto wallets: digital crypto wallets and hardware crypto wallets. In this post, you will come across the top 5 digital crypto wallets that you must refer to for better trading in crypto.
All digital wallets have different types of features. So, we have mentioned the best wallets below along with the pros and cons of each wallet. You can go through them thoroughly and choose the best one for you accordingly.
5 Best Crypto Wallet Of 2023
There are several digital crypto wallets that are available in the market. So, we have done the necessary research for you and finally came up with the list of the top 5 Digital Crypto wallets that you must use in 2023.
Well, if you are just a beginner in cryptocurrency then we have got the perfect crypto wallet for you. The name of the wallet is Coinbase and it is perfect for beginners. So, we have mentioned this wallet at the first position in our list of the “Best Crypto Wallet”.
There are several reasons for Coinbase to be the best Crypto wallet in 2023. The first one being it is owned by one of the best and well-known crypto exchanges in the world is Coinbase. The other reason is that the application has an excellent user interface that helps beginners to understand the crypto market and trends easily. You can also connect the wallet with the major back accounts as well.
The wallet supports over 500 crypto assets and in addition, you can also store the digital collectibles and NFTs in it.
Pros Of Coinbase Digital Crypto Wallet
- The wallet has got a user-friendly interface that is easy to navigate and use
- More than 500 cryptocurrency assets are supported by the wallet.
- The security is high with the two-factor authentication technique
Cons Of Coinbase Digital Crypto Wallet
- Only available as the Mobile and tablet application.
- For using the wallet on the laptop, you need to install the chrome extension
Moving towards the second wallet in the list of the Best Crypto Wallet we have Mycelium. Well, if you are looking for the crypto wallet that is best for the mobile operating system then the Mycelium crypto wallet application is to be installed.
The application was launched for the first time in 2008 and has evolved itself a lot since then. With the regular updates by the developers, it has become the oldest and most used crypto wallet application for Android and iOS platforms. The application’s code is reproducible which means it can be duplicated and if you have knowledge about coding you can also find the bugs easily. The application comes with several levels of security that also make it one of the safest mobile crypto wallet applications.
Pros Of Mycelium Digital Crypto Wallet
- The application is compatible with the cold storage solutions like Trezor, KeepKey, and Ledger.
- The application has got the in-app crypto exchange and education programs.
- It also offers offline transactions.
Cons Of Mycelium Digital Crypto Wallet
- Although the security of the application is strong when compared to the hardware wallets the security is not that strong.
- Not recommended for first-time users.
- The wallet only supports Bitcoin, Ether, and ERC-20 tokens.
We talked about the best crypto wallet for mobile devices. Well, next wallet in the list of the Best Crypto Wallet we have a wallet that is best for use on the Desktop. The name of the Crypto Wallet is “Exodus”.
If you are searching for the reasons why the wallet is best for desktops then here we are with some. It has got higher transaction speed, it is easy to use and it provides different functionalities for all its users.
Talking about the user interface of the device then it is one of the most appealing hardware interfaces of all time. The wallet application was originally developed for desktop use only. But, now an Android, as well as an iOS application, can also be downloaded from the Google Play Store and the Apple App Store respectively.
Pros Of Exodus Digital Crypto Wallet
- Over 145 crypto assets are supported by the Crypto Wallet.
- The wallet is also compatible with hardware wallets like Trezor One and Trezor T.
- If you are an Apple Pay user, you can use it on the Exodus Crypto wallet to buy Bitcoin.
- The Customer care support is available 24/7.
Cons Of Exodus Digital Crypto Wallet
- The transaction fee is relatively high for in-wallet crypto exchanges.
- Two-factor authentication is not available.
- Multi-signature support is not supported.
Electrum was founded in 2011 as a bitcoin wallet. Today it has become one of the oldest Bitcoin Crypto wallets in the world. It is the wallet that only deals in Bitcoins. Electrum is the best crypto wallet in the world due to various reasons and one of the features is the variable transaction fee. You can adjust the transaction fees according to your will. If you want the transaction to be faster then you need to pay higher fees and if you can wait for the transaction to happen then lower transaction fees will be charged.
One of the major advantages of using the Electrum crypto wallet is that it uses a lightweight client. That makes it lightweight and the wallet takes less space on your desktop device. Hence making the process faster.
Pros Of Electrum Digital Crypto Wallet
- The wallet is fast and easy to set up.
- The wallet also provides greater security than most other wallets.
- You can have customizable transaction fees.
- Server configurations are great. So, the wallet does not suffer downtime.
Cons Of Electrum Digital Crypto Wallet
- The wallet only supports Bitcoin trading.
- The user interface is not ideal for beginners.
- You cannot contact customer support via chat, email, or phone
MetaMask is another digital crypto wallet that is available online. The wallet is available in Firefox, Chrome, and Brave extensions. The wallet is best for transferring, receiving, and managing the ETH and ERC-20 tokens. The best part about using the MetaMask wallet is that the wallet allows the full interaction with the Ethereum blockchain without downloading the full blockchain.
Pros Of MetaMask Digital Crypto Wallet
- It is an Open Source software.
- The user interface is good.
- The Customer care support is available 24/7
Cons Of MetaMask Digital Crypto Wallet
- Security is an issue.
- The privacy may be compromised.
The list of the best Digital Crypto wallets given above is made after deep research by our teammates. But, still, we don’t recommend the use of any of these. This is because we are not a financial website and the post is written for informational purposes only. If you think that we have missed out on any of the digital crypto wallets that deserve a place in this list then feel free to tell us in the comments section.
Our editorial team will review the wallet and we will update it in the article as soon as possible. If you find this article informative then do share this article with your friends.