Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Crypto wallets are blockchain-based software programs or physical devices that help to securely store your cryptocurrencies. While the cryptocurrency sector has been prospering rapidly, the number of platforms offering crypto wallet services has increased too. Hence, it can be hard to find out the best crypto wallet to store your coins, especially if you are a beginner. To help you decide which crypto wallet to choose, we have introduced and reviewed the top best crypto wallets in 2023. Our guide also thoroughly provided a step-by-step walkthrough on how to start using them. 8 Top Crypto Wallets For Beginners In 2023 Here is a quick list of the best crypto wallets that beginners can use in 2023. In the next section, you will find detailed reviews about each wallet. Best Crypto Wallet – Overall Best Crypto Wallet To Store Your Digital Assets OKX Wallet – Easy-to-Use Crypto Wallet With Multiple Features eToro – Trusted By Millions Of Users Bybit – Beginner-friendly Crypto Wallet Exodus – Supports Over 1,000 Crypto Assets Ledger – Highly Reliable And Secure Trust Wallet – Widely-used Crypto Wallet Owned by Binance MetaMask Wallet – Highly Secure Software Wallet Top Crypto Wallets Reviewed – Full List With thousands of cryptocurrency wallets in the market, it can be daunting to explore and test multiple ones to find out which is the best. Meanwhile, you can’t trust a crypto wallet if you don’t know whether it is safe, functional, and affordable. To help you in this task, we have reviewed the best crypto wallets in detail to make it easy for you to choose a suitable crypto wallet. Best Crypto Wallet – Overall Best Crypto Wallet To Store Your Digital Assets Best Crypto Wallet might be a new name in the cryptocurrency landscape but it has already gained huge popularity among investors. This does not come as a surprise, as the platform incorporates advanced security mechanisms and innovative tools that make the wallet attractive for crypto traders. We consider Best Crypto Wallet as one of the best wallets for beginners because of its innovative features. First, it provides a comprehensive Web3 ecosystem to securely manage your digital asset. Along with receiving, sending, and storing different kinds of digital access, Best Wallet users also have access to various DeFi tools, including decentralized applications, yield farming tools, and crypto staking protocols. The next important feature is that Best Wallet tries to provide blockchain interoperability. It supports multiple blockchain networks, the most popular ones being Ethereum and Binance Smart Chain, so users can easily interact across different chains. This is an important feature if you want to store and manage a number of cryptos built on different blockchains in one space. Another important factor to consider when selecting a crypto wallet is security. Best Wallet integrates highly advanced security mechanisms to make your experience safe and away from malicious events. Its app is protected with multifactor authentication, biometric identification tools, and cryptographic protocols. For more information about its security features, check out our Best Wallet review. Eventually, what makes Best Wallet attractive to investors is its innovative tool – an AI chatbot. The AI chatbot will do crypto market watch and provide users with helpful insights about the market so investors won’t need to spend time on research. Furthermore, it will help investors with insights into their portfolios and help them to manage their digital assets wisely. Another feature is that the AI chatbot will be like their personal assistant within Best Wallet’s app and can answer questions about the platform and help them understand all the app’s features. Apart from using Best Wallet’s app, you can also invest in its native token and get several advantages by holding it. Among these benefits is the integration with the OpenAI tool, early access to different presales, airdrops, NFT drops, and other exclusive features of the platform. It will also enable you to stake and earn rewards without paying gas fees. Visit Best Wallet OKX Wallet – Easy-to-Use Crypto Wallet With Multiple Features OKX Wallet is backed by a popular cryptocurrency exchange, OKX, and has built quite a good reputation. It is a beginner-friendly platform that provides a number of features in one place, including crypto storage, an NFT aggregator platform, earning tools, and a DEX to swap between different cryptocurrencies. With all this, the OKX wallet is among the best DeFi wallets in the market. As mentioned on its website, OKX is like “your portal to Web3” due to its unique features. As a crypto storage platform, OKX aims to support interoperability between different networks and supports over 60 blockchain networks, with many more to come in the future. The popular networks supported by the wallet include Ethereum, Bitcoin, Solana, OKC, Polygon, Binance Smart Chain, etc. To know more about this, check out our OKX review. Another feature that may especially interest NFT enthusiasts is the NFT aggregator platform supported by OKX. This tool can be used to create and sell your NFTs across 11 networks and is powered with all the necessary tools. The platform also supports various popular NFT collections, including Bored Ape Yacht Club, Wrapped CryptoPunks, Azuki, etc. Also, OKX earns our recognition as one of the best crypto wallets for beginners because of its easy-to-navigate interface. Beginners can easily understand it without having complex knowledge about DeFi. Its app is available on various devices, including phones operating through iOS and Android systems. It can also be downloaded and installed on MacOS and Windows operational systems-supported computers. Apart from the main features of sending, receiving, and storing cryptocurrencies, the OKX wallet also has an in-built decentralized exchange and Bridge aggregator. This tool enables users to swap hundreds of cryptocurrencies across a number of blockchain networks. Additionally, its Web3 Dashboard will help you manage your investments, providing an overview of your transaction history, portfolio performance, and digital assets. As one of the best Bitcoin wallets, OKX Wallet provides a so-called Earn platform through which users can make passive income with their digital assets. There are various tools available on the platform, such as Save, Vault, Stake, Pool, and Farm. You can use these tools to lock up your assets and get rewards. The APY differs depending on the asset, but it can even reach over 5%. Visit OKX eToro – Trusted By Millions Of Users eToro Wallet is another great crypto wallet to consider, which is the product of a highly reputable brokerage platform – eToro. With millions of users across hundreds of countries, excellent security, and a user-friendly platform, eToro has already built a good reputation. This is already one reason to trust its crypto wallet, which is one of the newest products of the platform and is also called eToro Money wallet. The first thing to notice about the eToro crypto wallet is its advanced security. To ensure your funds are safe, eToro uses different safety systems, including DDoS protection, standardization protocols, etc. The app is compatible with many operational systems, which means you can download it on your mobile device, tablet, or computer and use it safely. With the eToro Money wallet, you can send, receive, store, and transfer more than 100 cryptocurrencies. It also enables swapping between different tokens, so you can easily use the wallet to buy new cryptocurrency coins and store them on the wallet. The app is free to download and no fees are charged by the platform. So the only fee to pay is the one charged by the blockchain network, which can change depending on the network. Another important feature for beginners is that the platform is easy to navigate and you will have an easy experience using it. Besides the advanced security features, eToro also supports unlosable private keys, which means you can recover your keys even when you forget them. For more details, read our eToro review. Overall, the eToro crypto wallet is one of the top DeFi wallets you can consider as a beginner. Its beginner-friendly platform provides newbies with a seamless experience. This wallet is good whether you want to store new or popular crypto tokens. Visit eToro ByBit – Beginner-friendly Crypto Wallet The next crypto wallet in our list is ByBit, a user-friendly custodial wallet designed to streamline access to Web3. The word “custodial” means that the wallet is designed and managed by a centralized exchange. Although ByBit belongs to a centralized exchange, it provides advanced security features to protect your private keys safely. So, its robust safety mechanisms enable users to safely enjoy various features of Web3. Besides, the ByBit wallet belongs to one of the popular cryptocurrency exchanges – ByBit. The latter is a reputable cryptocurrency exchange with a large trading volume and is trusted by 10 million users globally. As one of the best Ethereum wallets, ByBit gives access to different decentralized apps through its aggregator, thereby enabling users to learn about different Web3 applications. Additionally, it gives efficient insights into the upcoming initiatives within the Web3 ecosystem. Apart from storing your assets on the app, users can also enjoy various aspects of Web3, such as swapping if they choose the wallet provider. For more details, check out our Bybit review. Another key feature is that the ByBit wallet is adjusted to the needs of beginners. Its platform is easy-to-use and easy to manage, so you can get started and build your wallet through a couple of clicks. It has good customer support with a 24/7 available service. ByBit also enables investors to leverage cryptocurrencies up to 50x and Bitcoin up to 100x. When it comes to fees, ByBit is quite affordable – it does not charge any fees to use its wallet and for deposits. The only transaction fees charged when using the wallet are those charged by the blockchain network. With all these being said, we need to keep in mind that ByBit is a centralized wallet that is considered less secure compared to decentralized hardware and software wallets. It can be a good start if you are a beginner and want to get used to using Web3 applications, but it is not suitable for keeping large amounts of crypto for a long period. Visit Bybit Exodus – Supports Over 1,000 Crypto Assets Exodus is one of the most popular cryptocurrency wallets with a huge variety of networks and digital assets supported. It is easy to download and has an exceptional interface design that attracts many DeFi enthusiasts. The interface is also customizable, meaning you can select which theme to use for your page. Along with its mobile app, which is compatible with iOS and Android, Exodus also provides desktop services. You can download its app and use it on your computer. Through its multi-chain support, users can store cryptocurrencies built on 50 different networks. Hence, we recognize it as one of the best crypto wallets for beginners who want to invest in coins backed by Solana, Ethereum, Binance Smart Chain, and other blockchains. With Exodus, you can store and manage over 100 assets. Meanwhile, the app gives you access to NFT storage and decentralized applications. One of the DeFi tools provided by Exodus is the yield farming tool which enables you to earn rewards through your digital assets. The wallet also provides other important DeFi tools, such as live charts to examine the market, portfolio management tools, and a built-in swap mechanism that you can use to exchange between different cryptos. That’s not all. Exodus has a good customer support. Its security mechanisms are also quite robust. Additionally, Exodus can be linked to hardware wallets, like Trezor. This not only helps to increase the security of your assets and safely keep them on the Trezor hardware wallet but also enables you to swap cryptocurrencies between Exodus and Trezor wallets. What makes Exodus exceptional, among other decentralized wallets, is its payment options. Along with the opportunity to send and receive cryptocurrencies from other wallet addresses, Exodus also accepts traditional payment systems. For example, you can use a credit or debit card, Google Pay, Apple Pay, and even a bank transfer option to buy cryptocurrencies. You can also withdraw funds from your Exodus account to your e-wallet. Visit Exodus Ledger – Highly Reliable And Secure When it comes to security, Ledger is one of the safest options, as it offers hardware wallets for your crypto holdings. It means that wallets offered by Ledger provide cold storage for your assets keeping your private keys offline. This makes it even more difficult to get access to your cryptocurrencies and protects you from malicious attacks. Hence, if you are looking for the best option to store your coins as a long-term investment, Ledger is the best choice. Ledger provides two different wallets – Ledger Nano X and Nano S Plus. As mentioned on their website, one more wallet is coming soon, which is designed to be more customizable and will have a larger E ink screen. As for the other two, they are highly secure and support over 5,500 cryptocurrencies and NFTs. In terms of functionality, Ledger Nano S Plus is more convenient, as it also provides access through Bluetooth. Another good thing about Ledger Wallet is its Ledger Live app which enables you to easily manage your holdings while keeping them in cold storage. You can use the app to check your balance, follow your transaction history and access different features of the decentralized network. For example, through the Buy Crypto option, you can purchase Ethereum, Bitcoin, and many other cryptocurrencies with a debit or credit card. The Stake crypto option also enables you to lock up your Solana, Ethereum, and other similar cryptocurrencies so as to gain passive rewards. The other two important features of the Live app are Manage Crypto and Swap Crypto options through which you can easily send, receive, and swap different cryptocurrencies. The only disadvantage of this wallet is its price which is quite high when compared to software wallets, which are quite affordable or free to download. The price for the Ledger’s hardware device is over $100. But, this high price is compensated by its advanced security. Ledger is one of the most reputable hardware wallet providers, with 6 million customers worldwide. Its Ledger Nano S Plus hardware wallet has got a 4.5 review out of 5 on Amazon. Trust Wallet – Widely-used Crypto Wallet Owned By Binance If you have traded before, you may have already heard about Binance, one of the largest and most popular cryptocurrency exchanges. Trust wallet is owned by Binance, and it offers software wallet services. As Binance and its interface are more suited for advanced traders, Trust Wallet is specially designed to help beginners access the Web3 ecosystem and store their crypto assets securely. Apart from having a user-friendly interface with learning material to help novice traders navigate the Web3 ecosystem, Trust wallet has another good feature that attracts investors: its functionality. Regarding the number of assets supported by this wallet, you may be pleased to know that Trust Wallet is compatible with over 70 blockchains. According to its website, it supports over 9 million digital assets. Along with storing your cryptocurrencies and NFTs, Trust Wallet also provides various features to access Web3. One of the features is access to various decentralized apps, such as blockchain-based games. You can easily browse these platforms without leaving your wallet. It also offers exchange and earning services so that you can gain rewards on your idle assets. Meanwhile, swapping and exchanging cryptocurrencies with Trust Wallet is quite simple. You don’t need to go through the KYC procedure or provide selfies or other personal information to use the wallet. Trust Wallet does not collect any of your personal data while allowing you to easily trade crypto. You can also easily recover your account if you lose access to it through a recovery phrase. Downloading Trust Wallet is free. It provides a mobile, desktop, and web-based app to easily access the platform. Still, you must pay transaction fees to buy and sell cryptocurrencies on Trust Wallet. Trust Wallet is already trusted by over 60 million customers, and it has a 4.5 review on Play Store and a 4.7 rating on App Store. MetaMask Wallet – Highly Secure Software Wallet MetaMask is another highly popular cryptocurrency wallet that stands out with advanced security and good functionality as a software wallet. Built on the Ethereum exchange, MetaMask allows users to store, swap, and exchange cryptocurrencies and NFTs. Outside that, it also gives access to multiple decentralized applications. As the wallet describes itself, it is your “gateway to blockchain apps.” MetaMask is trusted by over 30 million users and has already built a reputation as a good crypto wallet. Its security mechanisms are actually quite effective, ensuring that your passwords and keys are stored on your device, and only you can have access to it. You can decide which part to share with the platform and which data to keep private. MetaMask provides a mobile app and an extension to the browser, free to download and install on your device. With MetaMask, you can enjoy buying, selling, storing, and swapping thousands of cryptocurrencies as the wallet has multi-chain support. It is compatible with a number of popular blockchains, including Ethereum, Binance Smart Chain, Avalanche, Compound, and many others. MetaMask is a good choice if you are looking for secure storage for your digital assets, such as cryptocurrencies and NFTs. The wallet helps you to interact with different dApps, and exchange cryptocurrencies at a fraction of the cost. What Is A Crypto Wallet And How Does It Work? There’s no doubt that over 420 million people own cryptocurrencies. When you invest in cryptocurrencies, it is important to store them safely. Crypto and Bitcoin wallets are designed to serve these purposes, that is, to help you store your digital assets securely, as well as provide a pathway for you to send, receive, or stake them. Hence, it is safe to refer to crypto wallets as physical devices or software apps which assist you to manage your cryptocurrencies. However, it should be noted that crypto wallets do not directly store your cryptocurrencies like physical wallets store your cash. They actually give you access to the part of the blockchain where your cryptocurrencies are. You can access that part of the blockchain through your private key, which is stored in your wallet. Apart from the private key, crypto wallet owners also have a public key which is used to send or receive cryptocurrencies. However, to prove the ownership of that cryptocurrency, you will need your private key. Hence, it is important to keep your private key securely: once you lose or anyone gets it, you can no longer access your cryptocurrencies. Read our guide on how to buy cryptocurrency safely for more tips. Types Of Crypto Wallets Depending on your investment size, term, and strategy, you can select a cryptocurrency wallet that suits your needs. There are various types of crypto wallets that differ in terms of their security mechanisms, functionality, and features. Crypto wallets basically fall into three categories – hardware, software, and paper wallets. In this section, we will discuss each of these wallets so that you can make an informed decision. Hardware Wallets Hardware wallets, also known as “cold” storage wallets, are hardware devices that look like USB sticks. They provide offline storage for your private keys and are considered the most effective way to store your cryptocurrencies securely. Hardware wallets are almost 100% safe as long as they are offline, making it hard for hackers to steal your private keys. Hardware wallets are great when it comes to security; however, they are not the best option in terms of practicality. The problem is that any time you want to make a transaction, you need to connect them to a device which is not quite convenient compared to software wallets. So, hardware wallets are good when it comes to storing cryptocurrencies for the long term. When you buy a hardware wallet, make sure that it is compatible with the token standard you want to store. Software Wallets In contrast to hardware wallets, software wallets exist as software apps that can be downloaded and installed on your device. These two types have three main differences: cost, security, and functionality. Regarding security, software wallets are less secure than hardware wallets as they are connected to the Internet. Still, reputable wallet providers use advanced safety mechanisms to keep your assets safe. In terms of cost, software wallets are more affordable and, in many cases, even free to download. While you need to buy hardware wallets from a store, you can easily find and download software wallets without paying any money. Finally, software wallets provide more functionality, which is why they are also known as “hot storage” wallets. You can easily and quickly make transactions: send, receive, and stake cryptocurrencies. In addition to this, many popular software wallets provide other useful features. They can give you access to different Web3 sectors, including NFT marketplaces, dApps, crypto presales, airdrops, etc. So, if you are into active trading, using a software wallet would be a more reasonable decision. Paper Wallets A paper wallet is another type of crypto wallet. They are called paper wallets as long as you must write your private and public keys on a piece of paper and store them somewhere safe to ensure no one has access to it. When it comes to safety and practicality, paper wallets are less safe and functional than software and hardware wallets, which is why they are not so widely known among investors. How To Get A Crypto Wallet – Step-by-Step Tutorial Now that you know about different crypto wallets, it is time to learn how to start using them. Here, we will walk you through the whole process with eToro’s Money wallet. Before we start going through the steps, you can download the Money Wallet app and install it on your phone. The app is free to download and is compatible with both Android and iOS devices. Step 1 – Open An eToro Account Before you start using the Money wallet, you will need to have an account with eToro. But don’t worry; it is a quick and straightforward process. You must start by providing a valid email address and creating a username and password for your account. To continue the registration process, you must fill in the required personal information, such as your name, surname, date of birth, address, etc. Step 2 – Verify Your Account eToro is a heavily regulated brokerage platform requiring its customers to undergo the KYC procedure. During this process, you will need to go through a number of verifications so that the broker can keep your account safe and away from fraud. At first, you will need to provide a valid email address and phone number to verify your account. The next verification stage is identity verification, which you can do by providing the relevant documents, such as a government-issued ID, a copy of your passport, or a driver’s license. Eventually, you must verify your address by providing proof of address. This can be a utility bill or a bank document with your name and address mentioned on it. Step 3 – Download And Install eToro Wallet After you finish registering and verifying your account, you can fund your account to buy cryptocurrencies. The first step to transferring your funds to your eToro wallet is to download and install it if you have not done that. Find the app in the Play Store or App Store and install it on your device. Then, log in to your Money Wallet account using the same credentials you entered while creating your eToro account. Step 4 – Transfer Your Funds To eToro’s Crypto Wallet To transfer your cryptocurrencies from your eToro exchange to your eToro crypto wallet, go to your portfolio section and select the position you want to send. Click on the “Transfer to Wallet” button to make the transaction. After the transaction is confirmed, your funds will be transferred to your eToro Wallet. Please remember that once you transfer your funds, you can’t return them to your eToro account. Getting cryptocurrencies on your eToro wallet from another centralized exchange account or crypto wallet is also possible. To do this, you will need to get your eToro wallet address which you can do by clicking on the “Receive” section on your wallet page. After that, you will need to convey your wallet’s public address to the sender. Visit eToro Conclusion In this guide, we reviewed the best crypto wallets that beginners can consider to store, trade and swap their crypto assets. We also explained the differences between different types of wallets, which can help you to select the most suitable one based on your needs and trading goals. Our top pick is the Best Wallet which is not only safe but also easy to use. It comes with numerous innovative features like an AI chatbot to provide users with good insights about the volatile market. While we acknowledge Best Wallet as the best crypto wallet for beginners, we also included other top alternatives that can be considered. Eventually, if you are new to using crypto wallets, our step-by-step tutorial will guide you through. Best Wallet - Manage Your Crypto Our Rating Access DeFi and Web3 Dapps Across Multiple Chains Comes With Your Own OpenAI Powered Chat Bot Assistant Get Early Access to Upcoming Token Launches & ICOs Integrated Decentralized Exchange To Buy & Trade Crypto Store Crypto And NFTs With Industry Leading Security Learn More FAQs Which type of crypto wallet is best to use? It depends on your trading strategy and goals. If you adopt a short-term trading strategy, a software wallet is a good choice as long as you will need to conduct transactions quite often. However, if you want to store a huge volume of cryptocurrencies for a long period and you won’t need to use those coins for transactions, a hardware wallet is a better and more secure option for this goal. Which crypto wallet has the lowest fees? Best Wallet is the most cost-effective wallet to use. It is completely free to download and install. You can also stake your assets without paying any gas fees and earn rewards. Other wallets, such as eToro, Trust Wallet, and Exodus, are also quite affordable and charge little or no fees. Is it a smart decision to move my crypto assets to a hardware wallet? A hardware wallet is the most secure option to store your cryptocurrencies, especially for long-term purposes. However, it can be inconvenient if you will frequently need your coins for short-term trading. For this purpose, a software wallet may be a better option. What is the best multicurrency wallet? Best Wallet supports Ethereum and Binance Smart Chain, meaning that you can use it to store all the cryptocurrencies using these two blockchains. Trust Wallet, Ledger, and OKX are also quite versatile in this regard, as they support thousands of cryptocurrencies, whereas MetaMask supports over 500,000 digital assets.