Best Crypto Wallet in the UK

Recently, the cryptocurrency market added another feather to its crown when it surpassed the $3 trillion mark in terms of its market capitalization. Major cryptocurrencies such as Bitcoin (which broke over 50,000 GBP) and Ethereum have demonstrated enormous growth in their value, encouraging many new investors to enter this industry.

Experts have advised keeping cryptocurrencies for a period of time and then selling them at a greater price later – buy low, sell high. Especially now that the market has had a small correction heading into 2022.

To keep your crypto secure, you need crypto wallets, which store your cryptocurrencies safely in a secured digital location. For instance, if you have Shiba tokens, then you need Shiba Inu wallet for your crypto. Similarly, if you have Polkadot, Ethereum, Ripple or even Cardano crypto, then you require respective wallets to keep your coins protected.

Given the huge range of crypto wallets available on the market, selecting the best crypto wallets may seem tough. That is why, we are here to help you with our review of the best crypto wallets in the UK, which will assist you in finding the best crypto wallet for you.

3 Best Crypto wallets in the UK

Since there are dozens of crypto wallets available in the market, we understand it becomes difficult for you to narrow down your choices. Therefore, we are here with our list of the three best crypto wallets in the UK:

These wallets not only store your cryptocurrencies safely in one place but also enhance your blockchain experience with their unique features. Given below we have discussed about these amazing wallets in great detail to ease your decision-making in finding you the right wallet.

3 Best Crypto wallets in the UK

Life is all about making choices, and we understand how hard it could get when you have equally good options in front of you. That is why, we are here to give you a detailed review of some of the best crypto wallets in the UK, which would help you make an informed decision about which wallet is suitable for you.

eToro Money wallet

eToro platform strongly believes that the financial industry’s disruption begins with the introduction of technologies that allows equal participation of investors from all backgrounds. Delivering on this vision, eToro has launched its wallet to empower every beginner and expert to store cryptocurrency with ease.

Regulated by Gibraltar Financial Services Commission, eToro Money wallet offers a unique, hassle-free way of storing a wide range of cryptocurrency coins at a secured digital location. It has a user-friendly interface that allows all investors to utilize its every feature conveniently.

This trusted wallet stores your multiple cryptocurrencies through its advanced security system. Users could even save their cryptos with a single username and password, thereby removing the need for you to memorize or write down private keys or phrases.

eToro wallet

In case you are an investor who has a diverse investment portfolio, then this wallet is the perfect pick for you as it allows you to track your cryptocurrency portfolio easily on its app.

This wallet provides you with a blockchain solution that allows you to focus on your investment freely by sorting out all technical issues in the background. It has security mechanisms like two-factor authentication, different levels of encryption, multi-signature, to ensure that your cryptocurrencies are kept safe without any trouble.

Further, the eToro money wallet also allows you to trade your cryptocurrencies with the help of the eToro trading platform, and your cryptocurrencies are automatically saved in your money wallet in case you trade through the eToro trading platform. You can make your account on eToro by clicking on this link.

Similarly, if you want to make additional money with the help of this wallet, then it allows you to earn passive income through crypto-staking. Adding on to its long list of amazing features, this wallet is easily accessible to all its users as it could be downloaded from the Play store by Android users and the App Store by iOS users.

Additionally, if you have any issues or difficulty using any of the wallet’s functions, its customer care is always available to help. Overall, the eToro money wallet has a special place in the eyes of all its users owing to its reliable storage services and wonderful features.

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Binance Trust Wallet

Trust wallet is the official crypto wallet of Binance. You get a safe and easy place to store your favorite cryptocurrencies on this wallet. Additionally, this wallet gives you lots of in-built features designed to improve your crypto experience.

Trust Wallet is free to use, and users just have to download the app from the Play Store or the App Store. Further, users don’t have to pay any hidden charges while using this wallet apart from reasonable network transaction fees. Similarly, it supports more than 40 cryptocurrencies on its platform, and hence, gives you some relief by storing all your cryptos in a single place.

Binance wallet

This decentralized wallet gives its users control of their private keys and allows them to access their funds without the need for a Trust wallet. It maintains complete privacy of its users’ sensitive information and does not ask for personal data while storing your crypto.

Additionally, if you want to earn rewards or interest through crypto-staking, this wallet gives you that platform to do it. Trust wallet allows the staking of many cryptocurrencies like Algorand, Cosmos, Tezos, etc. Further, its high-security system ensures the complete protection of your digital assets from external attacks or any technical glitches.

Another unique feature of this wallet is that it offers its users to interact with DApps within its system. This allows users to explore new DApps and manage these applications with the help of this wallet. Moreover, you can also trade or swap your cryptocurrency with the help of this wallet.

All these industry-leading features have made this wallet earn a massive base of over 5 million users across the globe. Want to make your account on Binance? Just click on this link, and start your journey.

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Coinbase wallet

If you are a crypto-enthusiast, then you must have heard about Coinbase. This reputable crypto exchange also offers its users a crypto wallet known as a Coinbase wallet. This wallet supports more than 4000 digital assets on its platform and gives its users an amazing range of DApps.

It is a self-custody crypto wallet and makes it easy for users to store, receive, or send Bitcoin, Ethereum, Dogecoin, or any other crypto. Furthermore, it is not necessary to have a Coinbase account to use this wallet. However, if your Coinbase account is linked to your wallet, transferring funds becomes easy.

Coinbase wallet uses Secure Element technology to keep cryptocurrencies secured on its platform and keeps its users in full control of their private keys. Further, the addition of ERC20 tokens and ERC721 collectibles (NFTs) could be made automatically in your wallet.

Coinbase wallet

As mentioned earlier, you can enter a whole new world of decentralized web with the help of Coinbase wallet. This wallet allows you to supply or borrow cryptocurrencies with the help of Defi liquidity pools. Adding on that feature, you could now swap your digital assets on decentralized exchanges. Similarly, you could make a collection of NFTs by purchasing these digital collectibles after funding your Coinbase wallet.

Moreover, your private keys are kept protected in this crypto wallet under the security of industry-leading safety measures like biometric authentication, and optional cloud backups, etc.

Given all these special characteristics, Coinbase wallet comes out as a good option to keep your Bitcoin, Dogecoin, Cardano, or any other crypto safe. If you want to make your account on Coinbase, then click on this link.

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What is a crypto wallet? How does it work?

Unlike traditional currencies, you can’t hold Bitcoin physically in your wallet. This is where the concept of a crypto wallet comes into play. Crypto wallets are digital wallets that are used to store your digital assets in a secured location.

The main objective of this wallet is to ensure that users could send, receive, and hold their favorite cryptocurrencies safely. Nowadays, crypto wallets come into different forms, such as web-based wallets, mobile wallets, desktop wallets, hardware wallets, and exchange wallets.

If you are wondering how crypto wallets store our cryptocurrencies, then don’t worry, we are here to make things simple for you. A crypto wallet will always have public keys and private keys that are unique to its owner. For having an easy understanding, one can compare the public key with the username of a person’s digital ID, and the private key with the password of that person’s digital ID.

Since cryptocurrencies are like long and complex codes, your crypto wallet, which is nothing but a program, stores these codes in the private keys on a secured location. You can access your crypto with the help of these private keys and make the necessary transaction.

Similarly, others could send you the cryptos with the help of your public keys. When a user receives cryptocurrency in his wallet, he has to match the private keys with the public keys of his wallet for unlocking his digital funds.

Given the fact private keys are like the password to your cryptocurrencies, you are not allowed to share them with anyone. In case you do so, you stand a huge chance of losing your cryptocurrencies from your wallet. That is why we would always recommend you to choose those crypto wallets that could keep your private keys secured in every circumstance.

Wallets like eToro Money wallet, Coinbase wallet, and Binance Trust wallet are the most trusted crypto wallets in the UK when it comes to the security of the private keys to your crypto.

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How to sign up for a crypto wallet in the UK?

Given below is the short guide we have provided to you regarding how to sign up for a crypto wallet in the UK. You can have your digital wallet in just three quick steps:

Decide the wallet you want to use

Depending upon your preferences, you can choose the right wallet for yourself, however, we would recommend you to go ahead with the eToro Money wallet as it not only supports more than 120 cryptos at one place but also allows you to trade your cryptocurrencies with the help of eToro’s exchange service.

Download your crypto wallet

After you have chosen the wallet you want to use, the next step is to download it. You can down eToro Money wallet from the Play Store if you have an android phone or the App Store in case you are an iOS user.

Create your account on that wallet

Once you have downloaded the wallet from the required platform, the last step is just to make your account on that wallet, and then proceed to buy, and store your cryptocurrencies.

What types of Crypto wallets are there?

You can use different types of crypto wallets to save your cryptocurrencies. Each of them has its own set of benefits and drawbacks, so people choose them based on their personal preferences.

Broadly, crypto wallets are of three types: software, hardware, and exchange wallets. Here, we are discussing these different types of crypto wallets in great detail so that you can choose which type of wallet suits your choice:

Software wallets

Software wallets are those wallets that are readily installed or downloaded on your devices in the form of an application or any other program. These wallets occur in many forms, for instance, desktop wallets, mobile wallets, and web-based wallets.

As the name implies, desktop wallets are in the form of computer programs that save your cryptocurrencies on your computer system. The private keys to the cryptos are kept safely on the desktop in a way that only users have access to them.

Similarly, mobile wallets are in the form of applications that are downloaded by users to store their cryptocurrencies securely. Since most individuals are stuck with their smartphones all the time, these wallets get instantly accessible to them at any time.

There are some mobile wallets that place the control of private keys in your hands, thereby making you responsible for storing and managing your digital assets. By associating with any crypto exchange, these wallets enhance your trading experience by giving some cool features in addition to storage services.

Lastly, we have web-based wallets, which are generally linked to the internet. Despite having some security concerns, they have a user-friendly and convenient way of storing cryptocurrencies.

Hardware wallets

All of us know how our computers and smartphones are vulnerable to hacks or malware. Imagine a situation where your mobile wallet or desktop wallet gets hacked, and you lose all your digital assets. Though it sounds scary, but it is possible.

This is where the utility of hardware wallets comes into the picture, which saves your private keys in a secure hardware device. These wallets aim to give maximum security to your cryptocurrencies by separating the sensitive private keys to your crypto and your easy-to-hack mobile phones or desktops.

You can connect hardware devices to your computer through a transfer device like USB, and store the private keys to the crypto in these devices. Once the transfer has taken place, you can unplug its connection to your computer, and carry your wallet wherever you want.

Since hardware wallets are like physical wallets, make sure you don’t lose these wallets with your negligence. Further, don’t forget the security keys to your wallet as it may invite unnecessary inconvenience to you. Companies like Ledger and Trezor are famous for manufacturing hardware crypto wallets.

Exchange wallets

Lastly, we have exchange wallets that are provided by reputable crypto exchanges for storing cryptocurrencies. For instance, the eToro Money wallet is an exchange wallet provided by the eToro trading platform. This wallet saves your cryptocurrencies in your account whenever you trade any crypto through the eToro platform.

The reliability and effectiveness of a crypto wallet are two crucial factors that should be considered by every investor. As a result, many investors find these wallets to be a reputable or reliable alternative for storing their cryptocurrency.

Apart from storing cryptocurrencies, these wallets allow their users to manage their cryptocurrencies. Further, they have an advanced security system to keep your cryptocurrencies protected in a digital location. Therefore, if you are looking to have a crypto wallet that should not be limited to just storing your cryptocurrencies, then these wallets are the perfect pick for you.

What makes a good crypto wallet?

Though there is a wide variety of features that are present in a crypto wallet, however, to make things simple for you, we have listed out some of the essential features that should be there in every crypto wallet to be considered “good” in the eyes of its user.

High-security system

A crypto wallet stores the private keys of your cryptocurrencies. If your wallet gets hacked, then you could even lose your entire crypto investment. Therefore, it is important to have a robust security mechanism in a good crypto wallet to ensure your assets are secured from every malware or hack.

Nowadays, exchange wallets like eToro Money wallet, Binance Trust wallet and Coinbase wallet have additional layers of security in form of biometric authentication, and optional cloud backups, etc for providing the maximum protection to your crypto.

Privacy

It is critical to keep sensitive information about users confidential from external parties. A good crypto wallet always keeps users’ privacy is protected. Generally, reputable wallets maintain complete privacy of their users’ sensitive information and do not ask for personal data while storing your crypto.

Affordable network transaction fees

Many crypto wallets charge some network transaction fees from their users. Always choose those crypto wallets which keep these sorts of expenses to the minimum, and do not charge unnecessary money to make money.

Similarly, never keep your crypto in the wallets that charge some subscription fees or initial fees for creating your account on that platform.

Freely accessible

Investors generally prefer those crypto wallets that are freely accessible, and easy to download. For instance, eToro Money wallet could be downloaded easily from the platforms like Play Store, and the App Store.

User-friendly interface

Do you like to use a crypto wallet that is too difficult to use? Absolutely not, right! A good crypto wallet always has a simple-to-use interface that makes it easy for its users to utilize its services.

Additional services

A good crypto wallet is useful for more than just holding your crypto coins. Wallets such as eToro Money, Binance Trust, and Coinbase give you features such as storing your NFTs, playing blockchain games, trade-related updates, managing your cryptos, staking cryptocurrencies, and much more.

How to choose the right crypto wallet for you?

Considering the availability of different types of crypto wallets present in the market, you can choose the right crypto wallet for yourself as per your preferences. As mentioned earlier, there are broadly three forms of crypto wallets in the market: software wallets, hardware wallets, and exchange wallets.

Software wallets are suitable for investors who love to enjoy the crypto trading experience from their mobile phones or desktops. Similarly, hardware wallets are liked by those who are skeptical about storing their private keys to the crypto digitally on a device. Therefore, they use hardware devices to guarantee the protection of cryptocurrencies from hacks and other digital failures.

Exchange wallets are used by those investors who expect their wallets to be a one-stop solution for everything. These wallets not only store your cryptocurrencies but also provide you with services like storing your NFTs, playing blockchain games, trade-related updates, managing your cryptos, staking cryptocurrencies, and much more.

In case you want to have a wallet that could support the storage of multiple cryptocurrencies, then also you will find exchange wallets very useful for your needs. Overall, we recommend you to narrow down your choices based on how many good features a crypto wallet has, and then you could decide the right wallet for you as per your needs and usage.

How to get a crypto wallet on eToro?

eToro Money wallet is often recognized by many investors as the best wallet for keeping cryptocurrencies safe and secure. Based on its unique features and robust security standards, we will also recommend using this wallet for storing your favorite crypto coins. Just follow some simple steps on eToro, and start using this reputable wallet:

Step 1: Create your account on eToro

Go to the official homepage of the eToro platform, and tap on the “Join Today” icon. Submit all necessary details which you are asked to provide, and set up your login credentials. You can also set your account through your Google or Facebook account.

Once you have made provided the relevant details, you will be asked to complete the know-your-customer process. Submit a copy of your identity proof for the purpose of verification, and then a utility bill or bank statement for the purpose of address proof.

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After completing the KYC process, deposit the necessary funds into your account. eToro provides you with multiple payment options like debit/credit cards, bank account transfers, PayPal, etc. No fees would be charged additionally while depositing funds in your account.

Choose any convenient payment method, and deposit the required money.

Step 2: Download the eToro money wallet

After registering with the eToro app, you will be required to down the eToro money wallet app on your device. This app is easily accessible, and users could download it from the Play Store or the App Store depending upon their mobile phones. Once you have downloaded this wallet, sign in to your eToro money wallet with your eToro login credentials.

Step 3: Start adding cryptocurrencies to your wallet

After signing in to your wallet account, you can start adding cryptocurrencies in case you have an empty wallet. You can transfer cryptocurrencies to your eToro money wallet if you have stored your cryptocurrencies in some other wallet.

If you don’t own any crypto, then you can buy these digital coins from the eToro platform. Your cryptocurrencies will automatically be reflected in your wallet account if you make the purchase from the eToro trading platform.

You can also sell these cryptocurrencies whenever you get a good return from your investment. eToro allows you to sell your cryptocurrencies in pounds and pence and gives you a variety of options, like debit/credit card, bank account, e-wallet, to withdraw this money.

How to buy crypto?

Cryptocurrencies like Bitcoin and Ethereum have witnessed phenomenal growth this year, and this trillion-dollar industry is further expected to show an upward trend in the upcoming years. As a result, you may be looking to buy cryptocurrency from the finest cryptocurrency exchange in the UK.

We suggest you to buy cryptocurrencies from the eToro trading platform because of its simple user interface, strong regulatory control, competitive fees, and a lot more reasons. Given below are the steps that are you are required before you make any crypto purchase:

Step 1: Create your account on eToro

Go to the official website of the eToro platform, and click on the “Join Now” button. Then, provide your required details, such as name, address, username, contact number, email id, and set up your login credentials. Alternatively, you could also register through your Google or Facebook account.

Step 2: Verify your identity and complete the know-your-customer (KYC) process

After opening your account on this platform, you will be required to complete the KYC process by getting your identity verified. You can submit a copy of your passport, license, or any other ID proof for the purpose of identity verification. Further, submit your utility bill or bank statement for furnishing the address proof. Once you have uploaded all the necessary documents, your account will be verified within minutes.

Step 3: Deposit funds in your account

Next, you have to fund your eToro account for purchasing your desired crypto. eToro gives you multiple payment options to deposit funds in your account. You can deposit the required money through credit/debit cards, bank account, PayPal, etc.

Step 4: Buy Cryptocurrency

Lastly, you have to go to the search bar and type the name of the cryptocurrency that you want to buy. Click on the “Trade” button, and then go to the order page.

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Insert how much amount you want to invest in your favorite crypto, and then click on the “Open Trade” button to complete the transaction.

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Conclusion

The increase in the popularity of cryptocurrencies among the youth is going to have a cascading effect on the demand for crypto-wallets. Many investors would try to maximize their profits by diversifying their investment portfolios. In such a scenario, exchange wallets like eToro Money wallet will come handy for these investors as they would allow them to hold more than 100 cryptocurrencies safely in one place.

Moreover, these wallets would also attract the investors’ attention with their industry-leading security system. Further, these wallets enhance the trading experience with their features like storing your NFTs, playing blockchain games, trade-related updates, managing your investment portfolio, staking cryptocurrencies, and a lot more. Considering all these reasons, eToro is our top pick for opening a crypto wallet in the UK.

eToro - Our Recommended Crypto Wallet

Our Rating

• Exchange Wallet for 120+ Cryptocurrencies, Trade In-Wallet
• Automatic Staking of ETH, ADA or TRX in your Wallet
• Regulated by FCA, ASIC and CySEC - 20 Million Users
• Unlosable Private Key - Secure eToro Recovery Service

Open Crypto Wallet

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

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