Want the best crypto wallet to keep your coins safe? We’ve got the very best hardware wallets for 2021. Free research, reviews and ratings for Ledger, Trezor, CoolWallet, SecuX and more.Read more
We review the best crypto wallet app in 2021! Find the safest mobile wallet and best DeFi wallet to earn passive income. We review Exodus wallet, Trastra app, eToro wallet and more!Read more
Crypto Wallet Reviewer is a website written by non tech heads for non tech heads and devoted to keeping your (and our) cryptocurrency safe. If you own crypto, you’ll need to use crypto wallets. We’re here to make that easy for you.
So, what is the best crypto wallet in 2021? We have the answers! If you are wondering how to secure your crypto assets, we have updated information from loads of research on the best hardware wallet, mobile crypto wallet, and seed phrase recovery wallet in the cryptoverse.
Remember to also check out our crypto scam alert blog where you can stay up to date on and protected from the latest crypto hacks and scams around. Remember – crypto is about you controlling your assets – including their security! Stay up to date and protected from scammers with the popular Crypto Wallet Reviewer scam alert blog.
What is a cryptocurrency wallet?
A crypto wallet is a place to access, secure and transact your cryptocurrency. Before you dive into crypto you need to understand that it is a decentralised and non-custodial asset – it’s based on the premise of individuals controlling their own finances and coins. There are no crypto banks like there are fiat banks. The safe storage, management and use of your coins is up to you!
Crypto wallets are where you access and use your coins and tokens. There are different types of wallets and all have different levels of safety to them and features, so to keep your coins safe its important you do your research before you buy. This is where Crypto Wallet Reviewer service comes in handy. If you’re active in crypto or want to be, you’l probably be using
- a hardware wallet to keep your crypto safe
- a mobile wallet to transact your crypto and make passive income from DeFi
- a seed phrase recovery wallet as a last line of defence mechanism to restore your coins on the blockchain.
We research and review all three of these wallets because they are crucial to your personal crypto security system. Read on to learn more about each one.
What types of crypto wallets are there?
Hardware crypto wallets (cold wallets)
Crypto Wallet Reviewer reviews the best hardware wallets in 2021. Hardware wallets, also called cold wallets are hand-held storage devices and are the most secure wallets because they store your private keys offline so they are not exposed to a lot of the internet based hacking that happens in the cryptoverse. Think of your hard wallet like a bank vault that only you have the keys to. Your wallet is somewhere to safely keep and protect these keys for your coins.
Mobile crypto wallets (hot wallets)
If you own crypto you’ll also come to use mobile crypto wallets, which are App wallets and therefore more convenient to transact with daily. Because these are connected to the internet, they are less safe than hardware wallets. Think of your mobile wallet like the wallet or purse you carry in your pocket or handbag every day. You keep less cash in it, but it’s very handy. We’ve researched and reviewed some of the most downloaded and best mobile crypto wallets here.
There are other types of hot wallets that come in the form of browser extensions and desktop wallets. Examples of desktop wallets are Electrum and Blockstream. Other types of hot wallets are crypto exchange wallets which is where your crypto is accessed when you are trading it on exchanges like Binance or Coinbase.
Seed phrase recovery wallet
A seed phrase recovery wallet is a must have in your crypto security arsenal. Most wallets, hot and cold, will require you to set up a seed phrase that you can use to recover your crypto on the blockchain should anything go wrong. If you lose this phrase, then the crypto for that wallet IS GONE!. There is no way to recover it.
A seed phrase recovery wallet is basically a physical place where you record the different seed phrases for each of the hardware wallets and mobile wallets that you use to interact in the cryptoverse. You can check out our reviews of the best seed phrase recovery wallets here.
Why do you need a crypto wallet?
The cryptoverse is unfortunately full of fraud, scams and cybersecurity hacks. People are routinely duped out of their coins with fake app wallets, exchange hacks, and social media fraud. If you own enough crypto currency that you care if it gets hacked or stolen, then you should have a hardware wallet to store it safely.
But like fiat currency its not convenient to have your coins and tokens locked down in a bank vault (hardware wallet) 24/7. So it’s likely you’ll also need to use a mobile crypto wallet. These allow you to buy crypto, send and receive crypto. We’ve also reviewed some of the more advanced mobile crypto wallets that allow you to access decentralised apps and the world of Decentralised Finance to stake, farm and earn on your coins and tokens.
Last but not least by any means, is the seed recovery wallet. This is your last line of defence should things go awry with your coins.
How do crypto wallets work?
If you’re in charge of your own crypto security, you’ll want to know more about what private keys and public keys are, how crypto wallets work, and the top things to look for in different types of wallets. Don’t worry – we’ve got you covered. Jump right over to our Crypto Wallet FAQ page where we’ve got all the answers to your crypto wallet questions.