Compare the best Bitcoin wallets in 2022

A wallet is like a vault for storing your Bitcoin and keeping it safe. This page explains how they work, how to get one, and helps you find the best BTC wallets in 2022.
By:
Updated: Sep 15, 2022
Tip: our preferred broker is, eToro: visit & create account

This beginner’s guide helps you choose the best Bitcoin wallet for your needs. Learn about the different types and their unique features, and then get all your questions answered before you pick out which one works for you.

What are the best Bitcoin wallets?

The list below is a quick look at the best wallets. Afterwards find a more detailed breakdown of the best in each category.

1
Min. Deposit
$ 10
Promotion
User Score
10
Up to $240 bonus!
Access eToro's own wallet eToro Money
Award-winning trading platform
Start Trading
Payment Methods:
Bank Transfer, Wire Transfer
Full Regulations:
CySEC, FCA
Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk. CFD crypto trading is unavailable for clients residing in the UK and US.

1. eToro: Best for beginners

eToro’s Money wallet is simple to use and integrates with eToro’s excellent trading platform. It’s one of the most secure options on the market, as it uses DDoS protection and machine learning to protect your money.

With eToro Money you can easily transfer money from your trading account to the wallet. You can then buy or sell more than 50 cryptocurrencies from the wallet app itself. To download the eToro Money wallet you just go to the website and choose either the Android or iOS option.

Key features

  • Mobile app
  • Online storage
  • Exchange platform

Why it’s best

We rate eToro as the best Bitcoin wallet because it’s secure, easy-to-use, and makes online storage accessible to anyone who’s new to cryptocurrency.

Pros and cons

Pros

  • The wallet is free to use
  • Transfer existing eToro assets to the wallet in seconds
  • The wallet is compatible with all the most popular cryptocurrencies 
  • No additional fees for sending or receiving crypto

Cons

2. Coinbase: Best for exchange features

Coinbase is second on our list because of how the wallet combines with its excellent trading platform. Existing customers can easily link the wallet to their account and access the Bitcoin they already own.

Along with BTC, the Coinbase Wallet supports every single ERC-20 coin. That puts hundreds of thousands of coins at your disposal, and you can use it to store NFTs too. All this in a self-custody wallet that puts control of your crypto entirely in your hands.

Key features

  • Mobile app
  • Cloud storage
  • Exchange platform

Why it’s best

We rate the Coinbase Wallet because of the range of cryptos it can hold. You can buy and sell Bitcoin through the Coinbase exchange or use it to buy and store hundreds of other coins too.

Pros and cons

Pros

  • The best place to buy, sell, and store Bitcoin all from one app
  • Compatible with every ERC-20 coin
  • Easily import from MetaMask and other compatible wallets

Cons

3. Nuri: Best for advanced features

Nuri is a top Bitcoin wallet that offers a great service to beginners and advanced users alike. Beginners can sign up for a free wallet that’s managed by Nuri, while more experienced users can take full control of the keys to your wallet.

The Nuri app also offers 3% annual interest on your Bitcoin through a crypto savings account. The payments are made weekly and you don’t have to lock up your coins, they can be accessed at any time. It’s also possible to spend money from your account through the Nuri debit card.

Key features

  • Free to use
  • Mobile app
  • Automated tax report

Why it’s best

Nuri is the best option for advanced users because it offers a self-custodial wallet so you can manage your private keys, and you can earn interest on your Bitcoin holdings.

Pros and cons

Pros

  • Earn up to 3% annual interest on BTC
  • Offers achoice between beginner and advanced wallets
  • Free ATM withdrawals with a Nuri debit card

Cons

4. Wirex: best for spending Bitcoin

Wirex is one of the best wallets for anyone who wants to use crypto to buy things. The Wirex wallet comes with a card that converts crypto to fiat at the point of sale and offers rewards paid every time you buy.

The Wirex wallet is an industry leader in the way it lets you take advantage of high percentage yields through staking. Access rates of 25% on crypto you own or swap between hundreds of coins on different blockchains, all from your Wirex wallet.

Key features

  • Free to use
  • Mobile app
  • Wirex card

Why it’s best

Wirex is one of our top picks because it offers industry-leading rates of interest and the option to spend Bitcoin from your wallet. 

Pros and cons

Pros

  • Advanced encryption gives it extra security
  • Earn 25%+ interest on the coins you hold
  • Spend from your wallet with the Wirex card
  • Compatible with the Bitcoin, Ethereum, and Solana blockchains

Cons

Our verdict

There is an excellent range of Bitcoin wallets available, so the best choice depends on what’s most important to you. A platform with quality exchange features is ideal if you plan on buying and selling coins often. If you want to hold for the long term, and either save or spend your crypto, then look for top level security, a payment card, and high rates of interest.

Compare the best wallets

WalletWallet typeCostExchange?Does it pay interest?
eToroOnlineFreeYesNo
CoinbaseOnlineFreeYesNo
NuriOnlineFreeLimitedYes
WirexOnlineFreeLimitedYes
Key features for the best BTC wallets

What is a Bitcoin wallet?

A piece of software or hardware that stores your cryptocurrency. While the word ‘wallet’ inspires an image of literal coins in your pocket, it’s best to think of it as an online banking platform instead. You log in with a password and are taken to an interface where you can manage your money.

In practical terms, your wallet stores two unique numbers: the wallet address (essentially an account number), and a private key (like a pin code). To make any transaction on the blockchain you need to supply both numbers, so using a wallet just makes this process a lot simpler and adds an extra layer of security.

What should I look for in a wallet?

Like when it comes to choosing a bank, there are lots of factors to think about as you choose which platform to use. Here we have listed the most important ones, with some advice on how to use the information.

Security

This is the most important factor, as extra security is the whole point of using a wallet rather than leaving your coins in your exchange or broker account. Choose a platform that offers additional security features, such as two-factor authentication (2FA), and make sure to use a strong password.

Number of cryptos

If you plan on holding other coins alongside Bitcoin, then you want to be able to keep it all in one place. Nowadays, most leading wallets have the capability to store multiple coins, and some can hold thousands of different ones. Check that the platform you choose can store all the coins you want to own.

Additional capabilities

Security might be the first consideration when you look for a wallet, but many platforms now offer extra features that can make your life a lot easier. Most notably, these can save you money by reducing transaction fees, or help you earn more by putting the coins to work. Some platforms offer built-in exchanges so that you can buy or sell coins directly from the wallet. Others offer rewards in the form of interest payments for holding certain coins

Low fees

Usually, there aren’t any fees for using an online or mobile wallet, but you will be charged for any additional features. Sending or receiving Bitcoin can come with a transaction fee, while an integrated exchange will charge some form of commission – either as a percentage of the total value or a flat fixed fee – on every trade. If you’re going to use a hardware wallet, you will have to pay a one-off amount to buy it first.

Quick answers to key questions

Do I have to pay for a crypto wallet?

No, for most wallets. Online, desktop, and mobile wallets are generally free, and you should be wary of any platform that tries to charge you. Hardware wallets normally cost between $50-200, but that’s just a one-off cost for the device. There are no recurring fees just for storing your coins.

Will I be charged blockchain fees for transfering Bitcoin to and from my wallet?

Yes. Whenever you move coins around you are adding a transaction to the blockchain. There is a fee for every transaction, which is paid to the miners as a reward for creating new blocks. Usually, the transaction fee is around $1, but it can be much higher – $50 or more – during busy periods. It’s like using an Uber: when everyone’s trying to book one, you have to pay more to get home.

Can I spend Bitcoin straight from my wallet?

Not with most platforms, but nowadays some wallets have the capacity to do this. The most popular is Wirex, a wallet that lets you spend your cryptocurrency through a crypto debit card. It exchanges your crypto for fiat currency at the point of purchase, but otherwise works just like a regular bank card.

Why should I use a wallet rather than holding coins on an exchange?

The most common reason is to keep large amounts of Bitcoin that you want to hold for long term security. By moving coins to a wallet you remove the risk of anything happening to the exchange and have total control over your money.

There are times when leaving them on the exchange is better, however. If you’re trading regularly, then it makes sense to keep coins in your crypto exchange account rather than constantly transferring them back and forth. Just remember that you can find a wallet with an in-built exchange and use that instead.

Should I use a wallet to store my Bitcoin?

Ultimately, it depends on your trading style and how privacy or security-conscious you are. We generally recommend it as wallets are often free, more secure than leaving coins on an exchange, and there are lots of different options available so you can easily find one that suits you.

Still undecided?

It’s always worth taking a bit of extra time to make decisions about money, and especially with cryptocurrency. To help you, here is a summary of the pros and cons to help you choose whether or not to use a BTC wallet.

Pros

  • More secure than an exchange and you can choose one with a level of security that suits you
  • Virtually all wallets are free, hardware wallets are available for a one-off cost
  • Many platforms now offer additional features, like their own in-built exchange

Cons

Where do I go now?

If you’re ready to get one now, then choose a wallet from our list of leading options. Otherwise, you can use our course pages to learn more about how BTC wallets work or head to our reviews for more help choosing a platform, a robot (e.g. Bitcoin Code, Bitcoin Revolution and so on) or anything else.

FAQs

Can I use more than one wallet?
Are cryptocurrency wallets regulated?
Can I access my Bitcoin wallet if I forget my password?
Can I access my Bitcoin if I lose my private key?
Can Bitcoin wallets be hacked?
Will I lose my coins if I uninstall a mobile wallet?
Can I withdraw coins from a wallet to my PayPal account?
Are there limits to how much Bitcoin I can store in a wallet?
Can I use a paper wallet instead?

Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.