Crypto has certainly come a long way since its emergence in the 2010s, right? Today, it is much easier to buy, sell and hold digital assets. As the market reaches new highs, the increase in adoption and utility of cryptocurrencies has led to millions of new traders looking for the most secure cryptocurrency wallets of 2024.
After all, the security of cryptocurrencies has become paramount. In a fast-moving market like this, where all of us are bombarded with spam emails claiming to have landed a huge memecoin airdrop – knowing that you have a wallet you can trust can be a real game-changer .
With this in mind, we have developed for you a quick guide to some of the best and most secure cryptocurrency wallets of 2024!
Why is crypto wallet security important in 2024?
You might as well ask, “Why should I look both ways before crossing the street?” “. Ultimately, it is essential to choose a wallet with a robust security framework. After all, investing in digital assets can already be risky, why add even more risk by not looking for the safest options for storing your assets?
Despite massive improvements in security over the years, hackers, phishers, and other types of bad actors are also perfecting their “art” when it comes to stealing cryptocurrencies. This sophistication in the art of cyberattacks also becomes more glaring when we add the fact that digital assets are widely adopted around the world and more and more new traders are joining the market, many without the know-how. when it comes to crypto investing.
The Most Secure Cold Wallets in 2024
Ledger
When it comes to security, nothing beats cold storage wallets. The simple fact that these types of wallets are offline means that it becomes much more difficult to access your currencies.
Ledger wallets are equipped with a military-grade security feature (CC EAL5+) and Bluetooth security for wireless communications with your devices. This wallet supports over 5,500 cryptocurrencies and is widely considered one of the best wallets when it comes to security.
This wallet is protected by a 4 to 8 digit PIN code. Ledger also offers you a subscription recovery service that ensures that even if you forget your passcode, you can still recover your assets.
Trezor
Another option for cold wallets, Trezor provides an open source security framework, tested by its own community over the years. It supports over 9,000 cryptocurrencies and is one of the most popular options for cryptocurrency wallets in 2024.
Some downsides are that they don’t work on Apple operating systems (IOS) and are generally more expensive.
Ellipal Titan
One of the most secure cryptocurrency wallets on the market, Ellipal Titan wallets ensure that only the owner of the wallet can use it. Featuring a military-grade CC EAL5+ security chip, this wallet provides excellent security to its owner.
Transactions are supported across 46 blockchains and are carried out via QR codes, ensuring that each transaction is unique, while avoiding USB and Bluetooth attacks.
All of these security features come at a cost. Most transactions take longer due to the camera’s QR code scanning system, and the added layers of security mean users may encounter a little more complexity in managing their funds. However, these tradeoffs are often worth it for those who prioritize the highest level of security for their digital assets.
Tangem
Another reliable option for a secure cold wallet, Tangem uses EAL6+ certified chips for high-level security against attacks, random private key generators, a proprietary multi-card backup system, and anti-counterfeiting protection.
To log in, Tangem requires a password, PIN number or phrase exclusive to you. Additionally, as an additional layer of security, the wallet uses biometric authentication and facial recognition.
Cold Card
Perhaps the most secure wallet on this list, ColdCard is tailor-made for Bitcoin holders looking to keep their investments secure in a reliable cold wallet.
ColdCard is highly regarded for its robust security, featuring two security features, air-gap operation, and tamper-evident packaging. It offers advanced features such as Duress PIN, Brick Me PIN, and native support for Partially Signed Bitcoin Transactions (PSBT).
Designed specifically for Bitcoin, ColdCard provides maximum protection for digital assets, making it a great choice for those who prioritize security.
The Most Secure Hot Wallets in 2024
Trust Wallet
The hot wallet market also provides excellent security for investors. The few compromises can often be put aside if the hot wallet owner can maintain a high security mindset on their online devices.
In this sense, Trust Wallet is one of the most secure hot wallets on the market. The company regularly conducts security audits to ensure its framework is up to date. Additionally, Trust Wallet offers several security features such as biometric authentication with fingerprint and facial recognition, a built-in security scanner, and in-app security alerts.
Although hot wallets are generally considered less secure than hardware wallets, their functionality and ease of use make them an attractive option for most traders.
Metamask
One of the most popular crypto wallets in the world, Metamask also offers several features that make a trader’s life a little more secure. Metamask’s app runs under encryption that hides all your data from your browser or phone. Additionally, this wallet also has biometric authentication and security alerts.
Creating a Metamask wallet requires registering a “recovery phrase,” which is a unique 12-word string that only the wallet owner can use. This wallet is generally recommended for investors wishing to be active on the Ethereum Blockchain, as it supports several ERC-20 tokens.
Coinbase Wallet
Moving on to hot wallets from cryptocurrency exchanges, Coinbase offers one of the best options for cryptocurrency wallet security in 2024.
For starters, this wallet includes biometrics, passwords, and security locks to provide multiple levels of protection. Additionally, it has a real-time scanner that notifies you when dApps request access to your assets. This scanner also alerts you when you come into contact with a dApp or token deemed “dangerous” by the platform.
An interesting note is that Coinbase DeFi wallets are fully integrated with Ledger hardware wallets. For traders looking for safe cold wallet and secure hot wallet options, this combination might appease them.
Crypto.com DeFi Wallet
The Crypto.com DeFi wallet is a non-custodial wallet designed to provide premium security for digital assets. It offers two-factor authentication (2FA) and biometric authentication (fingerprint or facial recognition) to secure access. The wallet uses local encryption via Secure Enclave to ensure private keys remain protected on the device.
Due to its connectivity to one of the most popular cryptocurrency exchanges in the United States, the Crypto.com DeFi wallet offers an excellent combination of security features and accessibility to investors.
Ghost
The Phantom Wallet is a popular non-custodial hot wallet primarily designed for the Solana blockchain, but also supports Ethereum, Bitcoin, and Polygon.
Known for its robust security features, it allows users to maintain full control over their private keys with encrypted storage on their devices. Phantom supports biometric authentication on mobile devices and includes scam detection features to protect against phishing attempts. It also undergoes regular security audits and can be connected to Ledger hardware wallets for enhanced security.
Given the growing popularity of the Solana blockchain in 2024, the Phantom is also a reliable wallet for investors looking to access and use the SOL-based blockchain.
Conclusion
Securing your digital assets is more important than ever. With the rise of cyberattacks, it is important to always stay up to date with the most modern defensive technologies on the market. Whether you prefer the robust security of cold wallets or the convenience of hot wallets, several robust security wallet options on the market allow you to trade securely.
Hopefully our guide helped you achieve your goals, and if you want to stay tuned for more guides or learn more about the intricacies of crypto investing, always check out our exclusive Legends community!
