The 5 Best Crypto Wallets of 2022

Crypto wallets on yellow background
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What should you look for in a crypto wallet in 2022?

There are three primary ways to hold your cryptocurrency, and they have varying degrees of security. The first and least secure method is to put your cryptocurrency on the stock exchange you bought it. An example would be to buy Bitcoin and never send it to a more secure wallet. This is not as secure as hackers primarily target exchanges when trying to steal crypto.

The following are mobile wallets on a phone or browser like metamask† These wallets provide you with a set of private keys that ensure that only you can access the funds. Private keys are a series of unique random words that can be entered to recover your cryptocurrency.

The only downside is that these mobile wallets run on software that is subject to hacking. Despite being much more secure than keeping your crypto on an exchange, mobile wallets are certainly not completely secure.

For the most security, a hardware wallet is required. Most of these wallets resemble a hard drive or flash drive and are offline storage, keeping your assets out of the reach of hackers. The best hardware wallets don’t store your private keys in software either. They eliminate the risk of someone other than yourself gaining access to your money.

Crypto wallet technology has come a long way since the early days of crypto. Like any emerging market, there are many new entrants. As such, it can get a little confusing trying to discern which serves the best purpose. And just like any other set of products, every hardware wallet does certain things better than others.

Some wallets have additional features that allow users to buy and sell cryptocurrencies on the wallet itself. Others are meant to let users just store their assets without any extra bells and whistles, and some will even work with DeFi.

Depending on your needs, we think our picks below have something for every type of cryptocurrency user.

Best All Round Crypto Wallet: Trezor Model T

Person connecting Trezor Model T
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Pros

  • very safe
  • Upgraded touchscreen
  • Can buy and trade cryptocurrencies within the wallet
  • Good help

cons

  • Expensive
  • Cannot integrate with iPhones

The Trezor Model T is the industry standard for crypto wallets. The Model T is the updated version of its predecessor, the Trezor Model One† As a result, it supports some of the newer cryptocurrencies that the older Model One does not support.

As part of the revamp, the Model T has a sleek touchscreen and no extra buttons. It may take a little longer to set up due to some features, but it’s worth it.

One of these features is the ability for users to buy cryptocurrencies with fiat currently and trade cryptocurrencies within the Trezor Suite web application. All transactions made through Trezor Suite are then updated in your wallet in real time.

The Model T comes with additional layers of security compared to competitors. Wallets with Bluetooth can provide an opportunity for hackers to get in and steal your money. Alternatively, Model T can only be connected with a micro USB cable. It can also use secure QR codes to facilitate sending and receiving cryptocurrencies.

And even better, unlike many other hardware wallets, Trezor’s software is open source. This transparency means that any bugs are usually fixed quickly and security updates are faster, keeping everything safe and sound.

However, all the extra features and increased security mean that the Model T is more expensive than its competitors. In addition, the Model T does not integrate with iPhone users. Android users can interact seamlessly with the Model T by connecting a micro USB. If you are an iPhone user and need to connect to it, you should pick up another wallet

Best Crypto Wallet For Beginners: Trezor Model One

Person Holding Two Trez Model Ones
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Pros

  • Affordable
  • Simple interface
  • Can trade cryptocurrencies with the Trezor Suite web app

cons

  • awkward
  • Does not support some newer cryptocurrencies

Sometimes the newer devices like the Trezor Model T are not the easiest to operate. A wallet that just works and works well may be preferable, especially for someone new to crypto. If you want to keep it simple, the Trezor Model One is what you need.

This hardware wallet was released all the way back in 2013. Despite this, the Model One still matches just about any other wallet out there, just with fewer features and about half the cost.

It supports over 1,000 cryptocurrencies, but since it was developed almost a decade ago, it is not compatible with some of the newer cryptocurrencies like Cardano or Tezos. It also does not support Ethereum-based tokens such as Chainlink, Polygon, or Shiba Inu. Make sure the Model One can store the coins you invest in before you buy!

The small screen and two buttons can be used to confirm transactions. The Model One doesn’t have Bluetooth capability, but instead works via a micro USB cable, making it more secure.

Finally, setup is relatively easy and once complete you can buy and sell cryptocurrencies directly from the Trezor Suite web app, just like the Model T. As long as your coins are supported on the Model One, it’s a great beginner-friendly wallet, in both characteristics such as price.

Best wallet for beginners

Trezor Model One

Are you just starting out with cryptocurrency and need a simple, inexpensive wallet to store your coins? The Trezor Model One is a good choice.

Most Secure Crypto Wallet: NGRAVE ZERO

Ngrave Zero on pink background
NGRAVE

Pros

  • Extremely safe
  • Large touchscreen
  • Comes with stainless steel recovery card

Our most secure hardware cryptocurrency wallet is a newcomer from one of the world’s leading research and development technology companies, imec† The NGRAVE ZERO wallet has your security in mind in several ways that the competition can’t quite do.

First, the ZERO does not connect to the internet in any way. There is also no Bluetooth or USB compatibility. The only way to communicate with the wallet is with one-way QR codes.

That means there is no risk of compromised software and all your information remains offline. The wallet is so secure that it has been awarded the highest security certificate available, the EAL7

NGRAVE’s wallet also comes with a fire-resistant, waterproof, stainless steel card onto which you can write your recovery phrase – perfect if something happens to the wallet itself. If you are looking for complete peace of mind then look no further.

Of course, the ZERO also supports all types of cryptocurrencies, so you can keep all your investments safe. Users will enjoy the large touchscreen that makes navigation smooth.

This level of security is reassuring, but it comes with a price. The NGRAVE is easily the most expensive wallet to make our list, priced at over $400. However, the price is worth it for those who want the very latest in crypto security.

Most “Value For Money” Crypto Wallet: Ledger Nano X

Person carrying Ledger Nano Z .  opens
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Pros

  • Simple, sleek design
  • more affordable
  • Seamlessly supports various apps
  • Integrates with Android and iPhone

cons

  • Small touchscreen
  • Can’t buy cryptocurrencies with fiat

The Ledger Nano X is one of the most popular hardware wallets out there. At just $150, the Nano X has almost all of the same features that the Model T while having a sleeker appearance resembling a flash drive. The more compact design makes interacting with the device a little less user-friendly than the Trezor Model T, but it’s a minor trade-off.

The Nano X earns its spot on the list for its compatibility with mobile devices and integration with up to 100 apps like 1 inch and POAP† This means, for example, that users don’t have to worry about opening one app to access their Ethereum and another for their Bitcoin. This is something Trezor does not offer.

By using a Bluetooth connection, both Android and iPhone users can interact with their Nano X to buy and sell their crypto. Plus, the wallet supports over 1,000 cryptocurrencies, so you’ll likely be able to store all your coins in one place.

However, unlike the Trezor Model T, Nano X users cannot buy cryptocurrencies using fiat currencies. The Nano X allows users to trade cryptocurrencies, but not directly buy them.

The only knock on Ledger’s Nano X is a security flaw that happened in July 2020. This allowed hackers to get hold of millions of customer phone numbers and email addresses. Fortunately, no private keys were obtained, but there were attempts via phishing attacks. Since then, Ledger has made security a public priority and there have been no more hacks since then.

Best value for money wallet

Ledger Nano X

Ledger offers the best features at a great price with the Nano X.

Best crypto wallet for DeFi: SafePal S1

Person typing on SafePal S1
SafePal

Pros

  • Very affordable
  • Compact and comes with a modest screen
  • Great for DeFi apps
  • Secure

cons

  • Does not support some lesser known coins

Built by Binance Labsthe SafePal S1 come into the market with the hope of making a wallet that is suitable for DeFi lovers. Those who are active yield farmers or interact with all kinds of dApps need look no further.

Users can start by downloading the SafePal app for: android or iPhone† By using the mobile app, investors can interact with all kinds of dApps such as UniswapAaveLink, and Curve† Transactions can then be sent securely to your SafePal S1 by scanning a QR code or verifying a private key to ensure they remain secure.

Other advantages of the SafePal S1 are the price and security it offers. This wallet costs about $50 and is sure to be easy on your bank account. In addition, it works 100% offline as only QR codes are used. There is no USB cable, wifi connection or Bluetooth to access money. It even has a self-destruct mechanism if someone tries to get into your wallet.

One drawback is that the SafePal S1 does not support some notable coins such as Cardano, Tezos, Algorand or VeChain. To make up for this, the wallet supports every Ethereum-based token and Binance Smart Chain-based token. Make sure the SafePal S1 can hold your crypto assets before you buy!

Best wallet for DeFi

SafePal S1

Do you need a crypto wallet that integrates well with your dApps? You want the SafePal S1.

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