DeFi wallets
Introduction
New to crypto? Users can choose to store their cryptocurrencies in Centralized exchanges (custodial wallet) or store cryptocurrencies using their own private keys and safeguarding their crypto assets by owning one of these DeFi wallets (non-custodial wallet). We’ve compiled some of the best wallets and which wallet to use with the different ecosystems that you’ll be investing in.
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DeFi wallets
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Best DeFi wallets
- Metamask
- Trust Wallet
- WalletConnect
- Gnosis
- Coinbase Wallet
Best Cryptocurrencies Hot Wallets
One of the most commonly used wallets would be Metamask. Users can easily download and install as a Chrome extension or on a mobile device.
Metamask allows you to add different networks such as Ethereum, Binance Smartchain, Fantom, and Avalanche. Which makes it easy to manage your cryptocurrencies all under one wallet. To add an extra layer of security, you could connect your Ledger hardwallet to Metamask.
DeFi wallets
Great wallet for beginners. Trust wallet is user-friendly and convenient. It allows you to perform exchanges and purchase crypto within the wallet itself. There is no need to switch networks as it “auto-detects” the network of each cryptocurrencies and lists your holdings on the same page. There isn’t a web version for Trust wallet. So users can only use Trust wallet on their mobile devices. Great for Andriod users as they get to use the dApp function in the app which Apple users are not allowed to do so.
DeFi wallets
Coinbase Wallet is a self-custody crypto wallet that allows you to be in control of your crypto, keys, and data. You could purchase crypto with your credit and debit card and fund your Coinbase Wallet and start collecting NFT directly as well.
If you’re familiar with the Solana ecosystem, Phantom wallet would probably be your number one choice. The sleek interface makes Phantom wallet easy to use and install. You can pair the wallet up with Trezor’s hardware wallet for added security.
DeFi wallets
Best Cryptocurrencies Hardware Wallets
One of the highly recommended hardware wallets to keep your own private keys and keep your crypto safe. The Ledger is compatible with Metamask wallets and adds an extra layer of protection to own and secure your crypto assets.
DeFi wallets
Safepal has both hot and cold wallets. Their cold wallet interface is simple and easy to navigate around pairing it with their super-user-friendly app.
DeFi wallets
The Trezor wallet allows users to enhance security and privacy all in their software suite. Users are able to buy, exchange, and spend in Trezor’s secure environment. The Trezor wallet is also compatible with Metamask and Axie Infinity’s Ronin wallet.
The Lattice1 is extremely sleek but it comes with a hefty price tag. The Lattice1 allows you to read smart control markup and you are always in control of your own keys. The Lattice1 is also compatible with Metamask.
DeFi wallets
Summary
With DeFi wallets, there is no need for KYC and you can own as many as you like. Having been in various ecosystems, there is no “best” wallet as different wallets help facilitate transactions across different ecosystems. We would advise that you do not store your seed phrase on your computer or any devices that could be sync-ed online or stored on a cloud server. This would keep your crypto funds SAFU.
