Best Crypto Wallet UK

Cryptocurrencies like Bitcoin have been around for over a decade, but in recent years they have transitioned from a niche investment to a popular choice among investors, consumers, and businesses alike.

To exemplify this, companies like Microsoft, Amazon, Starbucks, Whole Foods, Paypal and countless others now accept Bitcoin. In this article, we will explore the top cryptocurrency wallets available for storing your digital assets.

What is a cryptocurrency wallet?

A cryptocurrency wallet refers to a digital wallet used for managing cryptographic assets. Wallets are one of the most important elements in the world of cryptography and blockchain technology. Wallets play a crucial role in the realm of cryptography and blockchain technology, as they hold and secure crypto assets.

How does a crypto wallet work?

The use of these tools is crucial in managing cryptocurrencies. Firstly, it is important to distinguish between a hot wallet and a cold wallet.

A hot wallet refers to an online device that is connected to the Internet. Hot wallets offer active and quick storage for cryptocurrency transactions. However, this advantage can also be a disadvantage. Due to their constant online connection, hot wallets are vulnerable to potential hacker attacks.

On the other hand, a cold wallet is an offline wallet, often referred to as a hardware wallet. These physical devices store cryptocurrencies completely offline. Additionally, many cold wallets are available in the form of USB devices.

Types of hot wallets

Currently, there are three types of hot wallets available in the market. Most of them are free, although some may require payment.

Best crypto hot wallets UK

There are several types of hot wallets that can be downloaded for free. Some wallets are specific for use in association with particular apps or only allow certain cryptocurrencies.

The best desktop wallets are:

Hot Wallets for Desktop
Exodus
MetaMask
Electrum

Exodus

Exodus is a more beginner-friendly wallet thanks to its rich educational section, which includes even explanatory videos. It supports over 220 cryptocurrencies; some of its key features are:

  • Exodus has a built-in exchange, so you can trade and stake crypto directly from the wallet
  • Exodus recoups stolen assets
  • The Exodus hot wallet provides integration with Trezor, a cold storage option.
  • Leader in cryptocurrency education

MetaMask

best crypto hot wallet

MetaMask is a popular software wallet that serves as a gateway to blockchain apps, known for its integration with Ethereum and a wide array of Ethereum-based tokens (ERC-20 and ERC-721):

  • It offers a secure identity vault, providing a user interface to manage digital identities on different sites and sign blockchain transactions.
  • Users maintain full control over their assets, ensuring that only they have access to their private keys and funds. MetaMask does not hold onto users' keys, offering enhanced security and peace of mind.
  • The wallet features an in-built exchange service, allowing users to swap tokens directly within the interface, making it convenient to manage portfolio without leaving the app.
  • MetaMask's user-friendly interface is designed to simplify the interaction with decentralized applications (dApps) and smart contracts, making it accessible even for those new to the cryptocurrency space.
  • It is available as a browser extension for Chrome, Firefox, Brave, and Edge, as well as a mobile app for iOS and Android, providing flexibility across various platforms.

Electrum

Electrum is a software wallet known for its user-friendly interface, robust security features, and encryption of keys stored on the desktop computer:

  • It allows you to recover encryption using a secret passphrase.
  • The owner has full control over the bitcoins and other cryptocurrencies, ensuring that no one else can freeze or restrict their funds.
  • Electrum enables users to rotate their addresses with each payment they receive, enhancing privacy and making it challenging to trace the funds.
  • Unlike some wallets, Electrum does not require downloading the entire blockchain, resulting in a lightweight footprint on the computer.
  • It is compatible with Windows, Linux, Mac, and Android operating systems.

The best smartphone hot wallet apps UK

Some of the most renowned smartphone wallets include:

Hot Wallets for Mobile Phones:
Electrum
Trust Wallet
Exodus
Coinbase Wallet

Electrum

In addition to the desktop version, Electrum has a mobile phone app with multiple features:

  • Easy-to-use interface
  • You can receive and send payments
  • Secure and intuitive
  • Excellent support

Trust Wallet

Another hot wallet option in app format is Trust Wallet, with the following features:

  • Secure mobile application with multiple tools and functions
  • Allows you to manage different cryptocurrencies
  • Trust Wallet is an open-source decentralised Ethereum application
  • It is a multi-currency wallet that supports all major cryptocurrencies
  • It offers support for over 20,000 tokens, such as ERC20 tokens on the Ethereum network and BEP2 tokens on Binance

Exodus

Exodus also provides a highly intuitive mobile phone app, which is integrated with the desktop version:

  • Face or fingerprint scanning is available for opening the app
  • Buy and sell crypto with ease
  • Exodus automatically checks all addresses for errors, enhancing safety and peace of mind
  • 24/7 human support is available

Coinbase Wallet

best bitcoin wallet

Coinbase Wallet is a self-custody mobile cryptocurrency wallet and Web3 dApp browser that allows users to manage their private keys and store a wide variety of digital assets:

  • The wallet supports a vast range of cryptocurrencies beyond the offerings of the Coinbase exchange, including Bitcoin, Ethereum, and many ERC-20 tokens and ERC-721 collectibles (NFTs).
  • Buy and sell crypto with ease
  • Security is a priority, protected by Secure Enclave technology (on supported devices), biometric authentication, and a user-defined passcode.
  • Coinbase Wallet is designed to be user-friendly, making it suitable for both beginners and experienced users. It is compatible with iOS and Android devices.

The best online crypto wallets

Among the hot wallets available via your browser, these are noteworthy:

Best Online Wallets
BitGo
Blockchain.com
Bit2Me Wallet

BitGo

BitGo is one of the most recommended Bitcoin wallets. It offers the following features:

  • It has institutional-level cold storage and preservation service
  • Supports more than 100 cryptocurrencies and tokens
  • It operates on a multi-signature (P2SH) and HD (BIP32) platform that offers a high level of privacy

Blockchain.com

This wallet is one of the most popular and offers the following features:

  • Allows you to store and manage up to 4 types of cryptocurrencies (BTC, ETH, BTH and XLM)
  • Its service is simple but easy to use
  • It has a high security level thanks to two-factor authentication
  • To access the online wallet, an SMS code, Yubikey or Google Authenticator (any of these 3 factors) is required to protect accounts from unauthorised access

Bit2Me Wallet

Bit2Me Wallet is another hot wallet option and its features include the following:

  • Integrated with all Bit2Me services, including buying and selling crypto
  • Real-time notifications are available
  • Multi-layered security system
  • Multiple payment methods are accepted, including Visa and Mastercard

What are the best cold wallets in the UK?

Before delving into some of the best cold wallets for safeguarding Bitcoin or other cryptocurrencies, it is important to understand the steps involved in purchasing a cold wallet:

  • Never purchase used wallets: It is crucial to acquire a new cold wallet, even if it is being offered by a friend or family member. Used wallets may pose potential security risks, so it's advisable to opt for brand-new devices.
  • When buying a cold wallet, it is recommended to make the purchase from the official stores of well-known and trusted manufacturers. Ensure that the device does not come with preinstalled firmware, as this could compromise its security.
  • Cold wallets come in various forms, with hardware wallets being a popular choice. These wallets are often similar in appearance to USBs, and they provide secure offline storage for cryptocurrencies.

Types of cold wallets to store cryptocurrencies

It's important to note that hardware wallets are typically the most expensive option when it comes to cryptocurrency wallets, but they also provide the highest level of security. They offer real-time market prices for all supported cryptocurrencies, eliminating the need for separate cryptocurrency apps.


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The best cold wallets for crypto UK

The best hardware wallets for cryptocurrencies are:

Best Crypto Cold Wallet
Ledger Wallet
Keepkey
Trezor

Ledger wallets

Ledger wallets are physical wallets designed to securely store a wide range of cryptocurrencies and tokens. These wallets are categorised as cold wallets, ensuring that only the wallet owner has access to the stored information.

With a Ledger wallet, users gain the ability to safeguard their private keys and passwords, protecting them against potential hacking attempts.

Keepkey

Keepkey is a hardware wallet ideal for those looking for a secure but easy-to-use design. However, it is not compatible with a broad range of cryptos – some of the few supported include Bitcoin, Ethereum, Namecoin, and Litecoin.

Trezor

Trezor is a hardware wallet that offers a high level of security without sacrificing convenience. Unlike cold storage, Trezor is able to sign transactions while it is connected to an online device.

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FAQ

What is the most secure Bitcoin wallet?

mong the best cold wallets are Ledger, Keepkey and Trezor, while some notable hot wallets are Electrum, Exodus, and Trust Wallet.

How much do cold wallets cost?

The price ranges based on the product that suits your needs. Some affordable but secure choices start at around £40.

Are crypto wallets only used for storing Bitcoin, or can they support other cryptocurrencies as well?

Crypto wallets are not limited to storing Bitcoin alone. In fact, most crypto wallets are designed to support a wide range of cryptocurrencies and tokens. Popular wallets like Ledger, Trezor, and Exodus, among others, offer compatibility with various cryptocurrencies.

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