Top 5 Cryptocurrency Wallets To Choose From

In my last post, I introduced you to the concept of a Cryptocurrency wallet outside of the CeFi experience of your CEXs.

This post will deal with my top 5 Cryptocurrency wallet recommendations that you can choose from. 

Bear in mind that our review focuses on the mobile app versions of these wallets and not the browser extensions. 

Ready to find out? Let’s go! 

1. Metamask Wallet

MetaMask was released in 2016 by ConsenSys. It is a software cryptocurrency wallet that helps interact with decentralized applications on the Ethereum blockchain.

Initially launched as a browser extension, the wallet is now available as a mobile app as well. They report over a million downloads. 

1.1. Features

The wallet supports: 

• Sending cryptocurrencies over various Ethereum-based chains; 
• Receiving cryptocurrencies from various Ethereum-based chains; 
• Swapping of cryptocurrencies; 
• A DApp browser to connect with decentralized applications; 
• Buying crypto through your Credit / Debit Card; 
• NFT storage and trading feature. 

1.2. Why Did This Make Our List?

While an early front runner in the Web3 space, the MetaMask wallet is unfortunately not as loaded on features as some of the other wallets out there in the market.

However, it is fast and reliable, with many decentralized applications in sync. Hence, no list of software of cryptocurrency wallets is complete without them. 

2. Trust Wallet

First released in 2017, the Company was acquired by Binance in 2018 in a cash + stock deal.

The Company provides mobile applications for iOS & Android, enabling secure & encrypted storage of cryptocurrency and other digital assets in a self-custodial way. The Company reports having 25 million users. 

2.1. Features

The wallet supports 65 blockchains and 4.5 million plus assets. This includes thousands of cryptocurrencies & millions of NFTs. They have a multi-coin wallet concept enabling support for all the main blockchains within the Ethereum ecosystem.

These include ERC 20, ERC 721 & BEP2 tokens. Furthermore, the application also supports usage as a Bitcoin Wallet. 

Through the App, you can: 

• Buy cryptocurrency through your credit card; 
• Swap and Store thousands of tokens
• Mint, Trade & Store millions of NFTs
• Earn Interest / Staking Rewards on your balances; 
• Engage with hundreds of decentralized applications (DApps) through their DApp library or their blockchain explorer.

2.3. Why Did This Make Our List? 

The most striking aspect of the app is the relative simplicity in its design, which makes it extremely user-friendly.

The experience is not too far off from what you would expect from your TradFi Bank’s mobile application. The DApp library is a huge plus in making the UX extremely comforting. 

3. Coinbase Wallet

Similar to Binance, Coinbase, the US cryptocurrency exchange, also forayed into non-custodial wallets with its own solution dubbed Coinbase. Launched in 2018, the wallet supports multiple chains & thousands of digital assets, including cryptocurrencies and NFTs.

While the number of users is not readily available, it is understood that Coinbase.com has 98 million verified users. That gives you an idea that even if 10% of that user base is also a Coinbase wallet customer, the wallet has 10mn approx users. 

3.1. Features

The Coinbase wallet allows you to: 

• Buy cryptocurrency through your credit card; 
• Swap and Store thousands of tokens
• Mint, Trade & Store millions of NFTs
• Earn Interest / Staking Rewards on your balances; 
• Engage with hundreds of decentralized applications (DApps) through their DApp library or their blockchain explorer.
• Connect your wallet with your Coinbase Pro account. 

3.2. Why Did This Make Our List?

Coinbase is a trusted name in the Cryptosphere & the wallet offering does not disappoint with a host of features that give more power to users.

The UX is smooth & the feel of the wallet is extremely easy on the eye. Most importantly, the wallet works in a low-fee environment with multiple chain support. 

4. Phantom Wallet

Phantom is a non-custodial wallet for the Solana blockchain. Developed by Phantom Technologies Inc and rolled out as a mobile app, the wallet started out as a browser Extension before the mobile app version was rolled out in Q1 of 2022.

While a recent estimate of their user base is not available, it is understood that even before the launch of the mobile app version, the Company boasted 1.8 million users. 

4.2. Features

The Phantom wallet allows you to: 

• Buy cryptocurrency through your credit card; 
• Swap and Store hundreds of tokens
• Mint, Trade & Store millions of NFTs
• Earn Interest / Staking Rewards on your balances; 
• Engage with hundreds of decentralized applications (DApps) through the blockchain explorer.

It is understood that the wallet will soon offer compatibility for Ethereum, increasing its diversity.

While this is not confirmed but a Solana-powered smartphone also opens up opportunities for Phantom to be the software interface that connects with the hardware wallet inside the phone. 

4.3. Why Did This Make Our List?

The Solana blockchain and ecosystem are relatively new and growing at a fast pace. The phantom wallet gives access to the Solana ecosystem in a fast, user-friendly, and reliable manner.

The overall visual feel and the functionality are very exciting and with the low-cost fee structure on the Solana blockchain, the Phantom wallet is a sure winner. 

5. BitKeep Wallet

A non-custodial wallet, this has recently gained immense popularity due to its wide coverage. They support a total of 70 main nets, comprising thousands of tokens, millions of NFTs, and more than 10,000 DApps.

They report six million customers and are available as a mobile application and as a browser extension.

5.2. Features

The BitKeep wallet allows you to: 

• Buy cryptocurrency through your credit card; 
• Swap and Store thousands of tokens
• Mint, Trade & Store millions of NFTs
• Earn Interest / Staking Rewards on your balances; 
• Engage with hundreds of decentralized applications (DApps) through their DApp library or their blockchain explorer.

5.3. Why Did This Make Our List?

It supports 70 main nets and is an easy one-stop solution. The coverage is immense, and the in-app NFT marketplace is a sure distinguishing factor.

Concluding Note

I would encourage you to try out each of these recommendations on your own and find the best fit for you. Personally, I would rank the recommendations as follows:

1. A tie between Trust & Coinbase;
2. Phantom;
3. Metamask & BitKeep come last

The reason for the rankings is simple:

• Coinbase & Trust offer a host of features that the other options do not, making them desirable. They are particularly great for DeFi;
• Phantom is not too far behind and could be alongside both Trust and Coinbase once it loses its Solana-only tag;
• The lack of a staking feature within the MetaMask app is a huge negative;
• BitKeep is powerful with a lot of features but sometimes feels all over the place with too much happening on the interface.

However, these are just my thoughts. Go ahead & see what sits well with you!