In our previous newsletter, we talked about the importance of self-custody and covered the differences between custodial and non-custodial storage and when to consider software or hardware wallet solutions. While we provided some examples, we received feedback that suggested many users may still be unsure about which wallet options to choose from.
It’s easy to get lost in our echo chamber and forget that while crypto adoption is on the rise, the general public is still new to some of the concepts. Whether we’re explaining to our friends and relatives over the holidays what decentralized money is, fielding criticism of the NFT space, or discussing blockchain technology in general, it never hurts to brush up on the basics and have recommendations ready to go.
In this edition of ‘The Cortex Connection’, we’ll provide a list of some of the more popular crypto wallets available and also point out a few new names making a break into the market.
Hardware Wallets
Hardware wallets are physical devices that store your private keys offline. They are often considered the most secure method to store your digital assets which makes them great for assets of great value or ones you intend to store for a long time.
Trezor
The world’s first hardware crypto wallet company, Trezor offers two hardware wallet options: the entry-level Trezor One and the premium Trezor Model T with the primary difference being that the premium model has a touch screen interface. What stands out about Trezor is their software is fully open source, meaning anyone can review, verify, and contribute to the code which many contribute to a higher security standard. Trezor supports fewer assets than other wallets which makes it a good choice to store popular assets like Bitcoin and Ethereum, but may fall short for users looking to store less popular or emerging assets.
Ledger
While it might not be the world’s first, Ledger is a well-known and respected supplier in the hardware wallet space. Ledger offers three wallet options: the entry-level Nano S Plus, the mid-range Nano X, and the premium touch screen enabled Stax. Ledger supports over 5,000 assets and has full desktop support (Windows, MacOS, and Linux) as well as mobile support on iOS and Android. Their Ledger Live app also allows a more robust experience especially when interacting with decentralized finance applications and the NTF marketplace making the Ledger a good choice for more active crypto investors who want to maintain an extra layer of security.
SafePal
While SafePal is a more obscure, lesser-known hardware wallet provider, it made the shortlist due to its vast support of over 30,000 assets over 54 blockchains and growing. It is also the most affordable hardware wallet on the list making it more accessible to the average user. They keep the options easy with one product, the SafePal S1, which also includes a built-in camera for scanning QR codes to import and manage new and existing assets. Overall, SafePal is an option worth considering for those looking for a low-cost solution at the beginning of their crypto journey.
Additional Hardware Wallets to Check Out
We can’t cover them all but we always will encourage our readers to do their own research. Feel free to look into these other hardware wallet providers:
KeepKey - Another user-friendly, low-cost hardware wallet solution.
Coldcard - A Bitcoin-only hardware wallet built with open-source code.
SecuX - Offers a wide variety of hardware wallets including the world’s first NFT hardware wallet.
Software Wallets
Software wallets are digital wallets that store private keys on an electronic device or in the cloud. These wallets can be downloaded and installed on your device or accessed via a web browser. They are considered to be less secure than hardware wallets since they are connected to the internet making them vulnerable to malware attacks and other exploits. Despite these security concerns, they are generally more user-friendly and convenient to use making them popular for those who require frequent access to their assets.
TrustWallet
Developed independently in 2017 and later acquired by Binance, TrustWallet is the official mobile wallet of Binance, who allows their users to easily store and manage their cryptocurrency holdings directly from the Binance platform. TrustWallet is arguably one of the most popular mobile wallets as it supports 70 blockchains and over 4.5 million assets and is perfect for users who want an easy to use wallet that supports top-tier and extremely speculative crypto assets alike.
Coinbase Wallet
Developed by Coinbase, the largest US cryptocurrency exchange, the Coinbase Wallet was designed to be a simple self-custody solution for even the most novice of users providing an easy-to-use interface and robust support documentation. Coinbase Wallet supports many of the major blockchains and their assets, though not as many as others, it remains a perfect solution for users who already use Coinbase and want to take self-custody of their assets using an interface they’re familiar with.
MetaMask
Created in 2016 by a team of developers from ConsenSys, a blockchain tech company founded by Ethereum co-founder Joseph Lubin, MetaMask is the most popular Ethereum and EVM-compatible non-custodial software wallet. In addition to its core wallet functionality, MetaMask includes a built-in decentralized application browser that allows users to access a wide variety of decentralized apps and blockchain-based services directly from their wallet. The wallet also supports integration with hardware wallets like the ones listed in the article above, for added security.
Atomic Wallet
Founded in 2018, Atomic Wallet is a decentralized multi-currency wallet that has quickly gained popularity for its sleek design, ease of use, and support for over 500 cryptocurrencies. It also offers a built-in exchange that allows users to buy and sell assets, as well as allows staking for certain tokens. A unique feature of the Atomic Wallet is the integration of Atomic Swap technology for cross-chain swaps. Typically cross-chain transactions utilize a bridge, which exposes users to potential loss due to exploits and other vulnerabilities. With Atomic Swaps, the two parties interact directly, avoiding the risks of utilizing a bridge. While this wallet boasts one of the better user interfaces, development is still ongoing as to its ability to integrate with hardware wallets.
Additional Software Wallets to Check Out
A complete list of all the software wallets would easily triple the size of this post and likely be outdated by the time it is released. Needless to say, there are still lots of improvements to be made in the way of making crypto wallets more accessible to the average user, and with software wallets being so much easier (and free) to access, we can expect the list of options to continue to expand. That said, here are some notable mentions to review and track for yourself as this space continues to grow:
Uniswap Wallet - An open-source wallet provided by the top DEX, Uniswap.
1Inch Wallet - Also open source and provided by, one of the top DEX aggregators.
Exodus - User-friendly interface that allows you to swap coins directly in the wallet.
Electrum - The most popular Bitcoin-specific software wallet.
Guarda - Boasts 24/7 live support and an easy-to-use secure interface.
Keplr Wallet - A Cosmos blockchain-specific software wallet
Overall, there are numerous wallet options available to securely store your digital assets. Whether you prefer hardware or software wallets or require a chain-specific option, make sure to choose a wallet that suits your level of expertise and security preferences. With so many choices, it’s easy to feel overwhelmed, but by doing your research, you can have peace of mind knowing that your funds are secure, in a wallet of your choosing.
Remember: Keep your recovery phrases and private keys in a safe and secure location.
Crypto Wallet News
Crypto Wallet Giddy Raises $6.9M in Funding
Cypherock Builds First Hardware Wallet Without a Seed Phrase
California County Approves Blockchain-Based Digital Wallet
Phantom Solana Wallet Adds Ethereum and Polygon Support
Microsoft is Testing a Built-In Crypto Wallet in Microsoft Edge Browser
Robinhood Connect to Allow Access From External Crypto Wallets
Feedback!
As always, we hope you find the information in these issues valuable and welcome any feedback and suggestions you may have. If there are any topics related to crypto or DeFi that you would like us to cover in future issues, please feel free to visit our Discord channel to let us know! We want to make sure we’re providing content that you care about.
Thank you for reading!