6 Best Crypto Wallets For Beginners in 2024 | CoinCodex (2024)

Choosing the right cryptocurrency wallet can be one of the most intimidating aspects of getting started with crypto. We’ll get you started off on the right foot by providing a list of the best crypto wallets for beginners.

The best crypto wallets for beginners

We’ve made sure to include a variety of wallets to provide options for every type of crypto investor, regardless of whether you’re a long-term holder or frequent user of crypto.

1. Ledger Nano S Plus - Best hardware crypto wallet for beginners

6 Best Crypto Wallets For Beginners in 2024 | CoinCodex (1)

If you’re approaching cryptocurrency with a long-term buy and hold strategy, you should strongly consider getting a hardware cryptocurrency wallet. A hardware cryptocurrency wallet is a secure device that stores the private keys necessary to access your cryptocurrency without exposing them to devices that could potentially be compromised (computers and phones that are connected to the internet).

The Ledger Nano S Plus is a hardware wallet that offers very strong security at a reasonable price of $79. This wallet is an upgraded version of the Ledger Nano S, which had established itself as the go-to hardware wallet for crypto investors worldwide.

This hardware wallet can be used to store more than 5,500 different cryptocurrencies. It implements advanced, independently audited security systems and works seamlessly with the Ledger Live software for easy portfolio and transaction management.

Get a Ledger Nano S Plus

2. Trust Wallet - Best software crypto wallet for beginners

6 Best Crypto Wallets For Beginners in 2024 | CoinCodex (2)

One of the main reasons why we believe Trust Wallet is the best software crypto wallet for beginners is that it supports a diverse range of cryptocurrencies. This allows users to manage their cryptocurrency with one app instead of having to hop to a different app for each coin they hold.

The wallet is compatible with Bitcoin, Ethereum (including blockchains compatible with Ethereum's Virtual Machine), XRP, and various other well-known cryptocurrencies.

Trust Wallet is user-friendly, featuring an interface that accommodates both novice and experienced crypto investors. It enables users to track the value of their crypto portfolio in their preferred currency, review their on-chain transaction history, and efficiently manage a variety of cryptocurrencies.

In addition, Trust Wallet includes a decentralized application (DApp) browser, which allows interaction with DApps through the wallet. Trust Wallet also has features for buying and selling cryptocurrencies, swapping tokens, and staking capabilities.

Get Trust Wallet

3. Coinbase Wallet - Best crypto wallet for Coinbase users

6 Best Crypto Wallets For Beginners in 2024 | CoinCodex (3)

Coinbase Wallet is a cryptocurrency wallet developed by the Coinbase cryptocurrency exchange. Coinbase Wallet is non-custodial, which means that the responsibility of managing private keys is completely up to the user.

This wallet supports multiple blockchains, including Bitcoin, Ethereum, Solana, XRP, Stellar, Litecoin and Dogecoin. In addition, Coinbase Wallet supports various Ethereum-based layer 2 networks and can also be used to store ERC-20 tokens.

Beyond the basic features of holding and transacting cryptocurrency, Coinbase Wallet also offers some advanced features, such as the ability to make token swaps through decentralized exchanges directly from the wallet’s interface.

In addition to cryptocurrencies, Coinbase Wallet can also be used to manage and transact with NFTs.

Coinbase Wallet is a great choice if your centralized exchange of choice is Coinbase. This is because the wallet can be linked with a Coinbase account for streamlined crypto transfers.

Get Coinbase Wallet

4. MetaMask - Best Ethereum wallet overall

6 Best Crypto Wallets For Beginners in 2024 | CoinCodex (4)

MetaMask is a wallet designed to work with Ethereum and other blockchains that are with the Ethereum Virtual Machine (EVM). It's available both as a web browser extension and a mobile application. MetaMask enjoys widespread adoption within the Ethereum ecosystem, with nearly all Ethereum-based decentralized applications (DApps) supporting it.

MetaMask can of course be used to hold and transact with ETH and Ethereum-based tokens, but the wallet also offers features for buying, selling, and swapping crypto tokens directly on the blockchain. MetaMask also has a portfolio tracker which you can use to easily monitor the performance of your crypto holdings.

MetaMask is a great choice for beginners, as well as advanced users who often interact with DeFi protocols or NFT marketplaces. It can function as a hot wallet for everyday use, but if you want to use it to manage larger amounts of crypto, we recommend you pair it with a hardware wallet like the Ledger Nano Plus for enhanced security. You can learn more about this topic in our article comparing hot wallets vs. cold wallets.

Get MetaMask

5. Electrum - Best Bitcoin wallet for desktop

6 Best Crypto Wallets For Beginners in 2024 | CoinCodex (5)

If you are a Bitcoin holder and want a wallet for your desktop or Android device, Electrum is a great choice. This non-custodial wallet is easy to use for basic transactions, but also offers advanced features that will come in handy as you level up your knowledge of Bitcoin. For example, Electrum can be used as a multisig wallet, and it also supports third-party plugins.

You can use Electrum as a hot wallet for everyday Bitcoin transactions, but the wallet has also integrated support for hardware wallets from manufacturers such as Ledger and Trezor if you want to use it to manage more substantial transactions.

A great thing about the Electrum wallet is that it connects to a decentralized server network, which means you’re not very likely to experience any issues with downtime. While it is a very solid wallet, Electrum is limited to Bitcoin, so you should look for alternatives if you also want to store other cryptocurrencies.

Get Electrum Wallet

6. Phantom - Best Solana wallet for beginners

6 Best Crypto Wallets For Beginners in 2024 | CoinCodex (6)

Phantom is a wallet that has become the go-to option for many Solana users. Since its launch, however, the Phantom team has expanded the scope of their wallet to also include support for the Bitcoin, Ethereum and Polygon blockchains.

Phantom provides a slick user interface, strong support for NFTs, as well as built-in token swapping and staking features. The Phantom wallet is non-custodial and can be used in tandem with hardware wallets, which also makes it suitable for long-term crypto storage.

The Phantom wallet has a feature that detects when the user is about to approve a transaction that’s identified as potentially malicious. For example, the user might be connecting to a phishing website that’s designed to trick users into approving a transaction that drains their wallet.

Phantom is available either as a mobile app on iOS and Android, or as a browser extension in Chrome, Firefox and other popular browsers.

Get Phantom Wallet

The bottom line

Even though the wallets we have featured in this article are suitable for beginners, they are all high-quality pieces of software that will serve you well even as you become a more advanced cryptocurrency user. When picking among these wallets, consider which cryptocurrencies you want to store and whether you want to use your wallet as a mobile app, desktop program or browser extension.

All of the wallets we have featured in this article are non-custodial, which means that the user has the sole responsibility of securing their private keys. This is great since you don’t have to trust any third parties to keep your crypto safe, but it also means you have to ensure to back up your recovery phrases and never share your private keys with anyone.

If you’re trying to learn more about everything you need to keep in mind when starting your crypto journey, make sure to take a look at our ultimate guide to investing in crypto.

6 Best Crypto Wallets For Beginners in 2024 | CoinCodex (2024)
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