The Best Crypto Wallets - Cryptotesters [The Crypto Review Platform]
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The Best Cryptocurrency Wallets

Custodial wallets hold crypto funds on behalf of their clients.

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Our Pick
Wirex logo

Wirex

4.3

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Wirex offers a borderless account that holds a range of fiat currencies and crypto and lets you seamlessly exchange between the two.

THE BEST THING

A debit card that gives you 0.5% cashback in Bitcoin for every purchase you make

PLATFORMS
Android featureApple featureWeb feature
PAYMENT
Bank Transfer featureCredit card feature
ASSETS
Bitcoin featureEthereum featureStellar featureWaves feature
+1 more
Runner up
Coinbase logo

Coinbase

4.1

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Founded in 2012 in San Francisco, Coinbase is a custodial digital currency wallet with an integrated trading platform.

THE BEST THING

Simple to use and good reputation

PLATFORMS
Apple featureAndroid featureWeb feature
PAYMENT
Bank Transfer featureSOFORT featureCredit card featurePaypal feature
ASSETS
Bitcoin featureEthereum featureStellar featureRipple feature
+6 more
Xapo logo

Xapo

4.1

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Xapo is a Hong-Kong based bitcoin wallet known for its extremely safe and sophisticated cold storage custody technology.

THE BEST THING

Multiple top-up options

Sign up and get $10 free when you add $100
PLATFORMS
Apple featureAndroid featureWeb feature
PAYMENT
Bank Transfer featureCredit card featureSkrill featureNetteller feature
ASSETS
Ethereum feature
Crypto.com logo

Crypto.com

4.1

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Crypto.com offers a wallet and a suit of adjacent services letting you use your crypto to get a loan, lend it out and earn interest on it or spend it through one of their debit cards.

THE BEST THING

Earn interest on your crypto funds

Sign-up and receive $50 worth of MCO tokens
PLATFORMS
Apple featureAndroid feature
PAYMENT
Bank Transfer featureCredit card feature
ASSETS
Bitcoin featureEthereum featureStellar featureRipple feature
+7 more
Luno logo

Luno

4.0

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Luno is an Ethereum and Bitcoin wallet used by more than 3million people. It makes buying & sending crypto very easy.

THE BEST THING

Excellent customer support

Receive €15 if you buy €250 worth of Bitcoin
PLATFORMS
Apple featureAndroid featureWeb feature
PAYMENT
Bank Transfer featureCredit card featureSOFORT featureiDEAL feature
ASSETS
Bitcoin featureEthereum featureBitcoin Cash feature
What are Custodial Wallets?

As opposed to non-custodial wallets, custodial wallets hold crypto funds on behalf of their clients. This means that your funds are not tied to a blockchain address under your control.

Instead, the wallet provider holds all funds and is responsible for securing them. Because they store the funds for you, they are often compared to banks and like banks, are also regulated financial companies. Among other things, that means they have to verify the identity of their users, restrict their services in certain countries or even censor certain payments to comply with authorities. You will also notice a custodial wallet from the fact that you will not receive a private key when installing the app.

How to Choose a Custodial Wallet
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Reputation

As custodial wallet providers take the responsibility of holding your funds for you, it’s important that you choose a trustworthy provider. Has the company ever been hacked? Are they backed by well-respected investors?

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Fees

Similar to exchanges, most custodial wallets will let you buy and sell crypto from within the wallet. Good wallets are transparent about their fees and shouldn’t charge more than a 2% mark-up on the market rate.

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Geographical coverage

Because custodial wallets hold your funds in custody and handle fiat payments they are subjected to regulation (unlike non-custodial wallets). This means they can only operate in whichever country they hold licenses. Search for a wallet that operates in your country.

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Ease of use

Does your wallet offer a credit card so you can spend your crypto in stores? Can you earn interest on your crypto deposits? Make sure to choose a wallet offering the features that are most important to you.

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