BEST Crypto Wallets 2021: Top 5 Picks 🔓

if you plan on holding any cryptocurrency one of the most important decisions that you can make comes even before you buy your first token it comes before you even create your first exchange account I am of course talking about the type of cryptocurrency wallet that you choose with so much value stored for the long term huddle you have to make sure that you have got the right wallet one that is not only highly secure but also functional and user friendly so what is the right wallet my name is guy and in this video I'm going to answer exactly that I'm going to reveal my top five crypto wallet pics as well as the pros and cons of each I also have some top storage tips for you that you just need to know so be sure to stick around till the very end for these golden nuggets of wisdom before I lock load and get ready to go there are a few quick things I have to say I am NOT a financial adviser so be sure to speak with yours before making any moves into crypto this video is also intended to be merely an educational tool to support your own research oh yes and a big shout out to anyone new to the channel I make videos like this regularly so if you enjoy the content then make sure to join the coin Bureau dream team by flicking that subscribe button and dinging that little bell do that and you'll be notified whenever I release another video alrighty so are you ready to huddle to the moon let's explore these wallets then before I jump into my list of top crypto wallet picks I need to explain why it's so important to use a safe crypto wallet if this is something that you already know quite well then feel free to jump to the pics in the timestamps that I provided below now most crypto newcomers may not know this but storing your crypto on exchanges is not a good idea the reason why this is is that when you keep your coins on in exchange you're essentially giving up ownership and control of your crypto so not only does this mean you have to fully trust the exchange operators but it also means that if the exchange was hacked you could lose all your funds this has actually happened quite a bit in the past one of the most notable examples was mount docks that saw over 850,000 Bitcoin stolen in a hack this was the largest Bitcoin hack in history and I actually know a few early investors who lost all their coins on docks tens of millions in today's money of course you also have exchanges which have just plain scams from the beginning a more recent example of this is quadriga CX the exchange was the coin base of Canada and users over there lost over 190 million dollars worth of crypto also some exchanges are suspected of running fractional reserves with many users of certain exchanges reporting that they have a hard time or are unable to withdraw their funds the key thing to take away here is that if you don't hold the keys to your crypto you do not really own it there is a famous saying that's repeated on numerous occasions in crypto circles not your keys not your crypto by keeping your coins on an exchange all you really have is a promise from that exchange that you own a certain number of coins and nothing more that's why so many crypto people talk about taking responsibility for your own crypto and taking security seriously to take back control of your crypto you will need a crypto currency wallet so without any further ado let me jump right into my top five wallets at the number one spot we have the ledger nano X and the ledger nano s what's important to know is that these are Hardware wallets that enable you to store your crypto on a physical device which looks a bit like a USB Drive another fun fact is that hardware wallet devices like ledger store your private keys and do not expose them to the outside world this provides defense against cyber hacks like phishing scams and key loggers so if you're looking for the highest levels of security money can buy then a hardware wallet is a sound purchase private keys on ledger are so secure that you do not even know them yourself instead they're stored within the device itself and secured with a PIN number with a ledger any crypto thief would need to have your ledger in their possession and know or guess your PIN number alternatively they could try and guess your twenty word recovery seed good luck to them on that oh yes in case you wondered what a recovery seed is it's a random string of words that you can use to get access to your crypto if you lose your device a pretty neat backup we've led your hardware wallets you also get access to ledger live which is an app to manage the applications installed on your device and enables you to manage your different crypto accounts this includes sending and receiving crypto or even just checking your crypto balances when it comes to the difference between the legend nano X and the legend nano s the former has a bigger screen the ability to use Bluetooth to connect to your mobile device the ledger X can also store up to 100 applications on it versus the four or five the nano s can hold what's important to note about ledger applications is that each separate blockchain will have its own app so you can use the ledger theory map to store eath or any e rc 20 token and you wouldn't need a separate app to keep your ear safe this means that if you want to hold a ton of different coins than the number of ledger apps which can be stored on a device will probably be a big consideration of course there's no point in getting a wallet if the coins you want to store on it and not support it the good news is that ledger supports over 1,000 crypto currencies that's the biggest range of crypto currencies for any wallet out there you can basically throw a dart at the first couple of pages of coin market camp and the chances are that the coin you hit will be supported by ledger another big consideration for most in crypto is staking which is when you hold your coins in a certain wallet and earn interest ledger also supports staking for popular coins like EOS tezo's Tron neo waves and one chain in terms of security ledger wallets are honestly the best in class with no known hacks that I can think of the only security breach that I know of is when scammers buy Ledger's open them up to generate the recovery seat and resell the ledgers on sites like eBay these nasty pieces of work then wait for the buyer to send their crypto to the ledger and gain access to it using the recovery seed however you can avoid that problem by buying directly through the official ledger site so be sure to do that when it comes to integrations ledger honestly works with a lot of stuff in the crypto universe if you're looking to get involved in d5 crypto lending and ledger integrates with popular web 3 wallets like meta masks so who can benefit the most from a ledger Hardware wallet well the legend an OS costs $59 with the legend and her ex setting you back 119 dollars now that sounds like a lot however you have to remember that this is the most secure crypto wallet money can buy the key question is if you actually need that top-of-the-line security or not put simply if you were dipping your toes into crypto and want to store a hundred dollars in coins then I honestly don't think it's worth buying one I would personally use that money to buy more crypto and use one of the free wallet suggestions that I'll get onto in a minute however if you think it's for you and you're going to be mainly holding Bitcoin aetherium and a bunch of ERC 20 tokens I'd go for the cheaper legend nano s I don't see the need to shell out more on the more expensive wallet if you think you can benefit from a bigger screen or want to hold a boatload of different coins then the legend a net X is probably the right option for you I have to level with you I don't really see the value in the nano X's bluetooth connectivity and I frankly never felt like using it however if you're one of those guys that simply must use a device like this on a mobile app then the X is what you need if you're interested in getting a ledger and want to support the channel then please do check out the ledger links in the description my number-two safest wallet pick is exodus wallet this is actually the wallet that I typically recommend if any of my friends are starting out in crypto Exodus is a completely free multi currency wallet that is available for both mobile and desktop one of the main benefits of Exodus is that it's super easy to use has 24/7 support via live chat a built-in crypto exchange and supports over 100 different crypto currencies oh yeah it also looks goddamn beautiful too and you can view your entire crypto portfolio at a glance on the home screen so if you want all that stuff in one simple solution and Exodus is probably the wallet for you in terms of supported coins Exodus supports exactly one hundred and twelve coins at the time of making this video here are some of the most notable which should satisfy most hot lers I've also provided a link to the full list of crypto assets supported by this wallet in the video description in terms of backup features Exodus provides two key ways of regaining access to your crypto in case your computer is lost or stolen number one is using a twelve word passphrase that you generate when creating your Exodus wallet the second is an email restore feature where exorcists will send a link to your email which you need to click and enter your password to get back access to your crypto however although these backup features are convenient the Exodus wallet doesn't really offer the same level of security as Hardware while it's like ledger given that your private keys are stored on your local device it could be susceptible to malware that either steals private keys or logs your keystrokes all that being said Exodus is way more secure than web wallets found at exchanges and it's free too if you're still worried about storing your keys locally on the device it's great to know that the security on Exodus is upgradable this is due to the wallets integration with treszura which is another type of hardware wallet device like the ledger this means you can enjoy all the benefits of Exodus while having your crypto secured by a hardware wallet it's for this very reason that I think that the Exodus and treszura partnership is the most important strategic move that the wallet creators have made in short if you're looking for a free wallet that supports a load of coins and want a simple uncluttered interface then honestly I would go for an exodus wallet if you want to upgrade your security later you also have the option to do that by buying a treasure or Hardware wallet and that is a great segue into the next wallet on my list the treasure Hardware wallet comes in at number three similar to ledger you have two different models to choose from the original treasure one and the treasure Model T I have to give it to treasure there Hardware wallets are slightly easier to use and setup than ledger treads are share many of the security benefits of ledger but they come in at a slightly higher price point the treasurer one comes in at $78 and the treasurer T sets you back a cool 165 dollars the key difference between the two models is that the treasurer T comes with a bigger color screen and supports microSD cards the treasurer one on the other hand just has a black and white screen like ledger treszura supports over 1,000 different crypto currencies so you can be pretty confident that almost any crypto you want to store will be compatible with this wallet however treszura doesn't support staking for the same range of coins that ledger does the treasurer wallet does integrate with the simple staking wallet so you do have that option honestly the main reason why treasurer didn't feature higher in my list is due to the crypto exchange Kraken identifying a critical vulnerability in Trez or hardware wallets in a nutshell Kraken found a way of cracking into a treasure in about 15 minutes by exploiting voltage glitching in the device to get hold of the encrypted seed the encrypted seed can then be accessed by brute forcing the pin number securing the funds yes this sounds terrifying and you're probably wondering how I can still rape tresor after this the reason why is that this Trez or hacking method requires the crypto thief to have possession of your treasure and a bunch of equipment to pull off the hack now I don't know about you but I'm not leaving my treasure lying around anywhere willy-nilly and I'm more concerned about cyber attacks when it comes to crypto theft the truth is that if anyone came after your crypto in the real world and put a gun to your head then it probably doesn't matter if you have a treasure or the more secure ledger either way the bad guy is probably going to end up with your crypto in terms of key tressle partnerships I'm going to have to mention that the Exodus partnership again Exodus is honestly such a popular free wallet and I think it's a masterstroke byte resort to give Exodus users the ability to upgrade their security to sum it up Tresor is the ideal crypto wallet for anyone that wants first-class crypto wallet security and needs it to be as simple and quick to set up as possible I actually got my trays or good to go in about 10 minutes and I can tell you it took much longer to set up my ledger if you really need a bigger screen then the treszura model T is the way to go however I think most people are probably best off saving the extra eighty seven dollars and going with the Tresor one so if you think Tresor is the wallet for you then I'd love it if you supported my work by using one of my trestle affiliate links in the description my fourth favorite crypto wallet is trust wallet and it's one of the best options out there for anyone wanting to carry around their crypto on their mobile the app can be downloaded for free from the Apple App Store Google Play and Android trust wallet is also another multi crypto wallet and is able to interact with decentralized applications directly through the app thanks to its Web 3 browser so if you want to play some crypto games or have the option of using your wallet with daps then Trust wallet is the way to go trust wallet is also fully open source this basically means that the underlying software code is open to all to audit and verify generally open source software is viewed favorably in the crypto space as it means the community was able to independently verify the security of said code so that's a plus something else that works pretty neat is that this wallet also works perfectly with the by Nance Dex and Kaiba network protocol that means you can make instant trades of decentralized exchanges with no fuss at all passive income' fans will also be pleased to know that trust wallet supports staking for cosmos Tron and teasers in terms of coin support trust wallet allows you to store all a RC 20 tokens all tokens issued on Tron and by Nance chain plus a bunch of other top crypto currencies like Bitcoin XRP and litecoin honestly as long as you're wanting to store pretty well-known crypto currencies trust wallets should have covered in terms of security concerns I've not heard about any trust wallet hacks however what's for sure is that the wallet will never be as secure as a hardware wallet you still have risks of local device intrusions having said that I should point out that it was one of the first acquisitions by by Nance and the exchange uses it as its official wallet so this is no doubt a vote of confidence in my opinion in summary trust wallet is an ideal choice for anyone wanting free multi crypto wallet app to manage your coins on the go I've popped a link in the description in case you want to try it out ok so it's time for my final crypto wallet pic and I'm going to go for meta mask this wallet can be used as a browser extension on Google Chrome Firefox and the brave browser this basically means it acts like a kind of bridge between standard web browsers and the etherium blockchain if you're looking to store a ton of different coins then I'm going to have to stop you right there and just say that meta Mask is not for you the wallet only supports aetherium and ERC 20 tokens so limited on that front yet a pretty cool thing about meta mask is that it links directly with coinbase and shape-shift which makes it super easy to buy 'if or ERC 20 tokens it's also pretty easy to use too when it comes to security I've not heard about any meta mask hacks it uses HD backup settings and has a strong community of developers constantly updating its source code which is also open source however the most common security threat to metal mask users will be phishing attacks so just be careful when you enter your meta mask password when it comes to integrations this is where meta mask really shines if you're looking to get involved in the defy ecosystem by earning interest on defy loans giving a crypto loan or even trading on decentralized platforms like synthetics then you can do all that with meta masks pretty much any DAP in defy or any aetherium based app for that matter integrates with meta mask in short if you're even mildly interested in exploring some of the dams on the etherion blockchain then a meta masks wallet is basically a must-have it also a pretty beginner-friendly wallet and it's completely free too however if you don't want to be restricted to aetherium and ERC 20 tokens then I would honestly look at other wallet options and that's it my list for the top five wallets in crypto the best wallet for you will honestly depend on what coins you want to store the functionality you need and what level of security you're comfortable with if you want to go for the best crypto security out there then I would certainly recommend going with a ledger or treasurer however the free wallet I've talked about are also very solid options - the truth is that just having control over your own private keys and keeping your funds off an exchange already makes your crypto more secure than most people's having said that though you still need to take precautions with some wallet security 101 always backup your seeds and store them in a secure place if you're using desktop or mobile wallets be sure to keep your devices malware and virus free basically don't click on junk and finally haughtily your coins in secret no one needs to know that you own any crypto and when anyone does you make yourself vulnerable not even the strongest Hardware wallet can stop the $5 wrench attack and that my fellow crypto pians is the end of my video what do you think about my crypto wallet pics though are there any others that you think should be on this list I'd be super interested to hear your comments below also if you got value from this video then please don't forget to moon up the likes and smash that subscribe button and remember not your keys not your crypto thank you for making it to the end of that video you guys Rock I want to give as much value as possible to my loyal subscribers that's why I started my weekly newsletter it's basically my take on the latest trends and topics I also share some secret tips that you don't want to miss sound appealing simple instructions click the sign up link in the description below fill out your email and hit submit and that's it you are now locked and loaded and ready to receive my latest mailer [Music]

Channel: Coin Bureau

Views: 997,077

Keywords: Hardware Wallet, Ledger, Trezor, Metamask, Bitcoin, BTC, cryptocurrency, secure

Id: Eod04JEyOV8

Length: 20min 46sec (1246 seconds)

Published: Sun Apr 12 2020