10 Best Hot Wallets for 2024 – Top Software Wallet Reviews

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25 Mar 2024

Hot wallets aren’t as secure as their cold counterparts, but they are more convenient. They allow users to store, trade, and manage digital assets with ease. There are hundreds of wallets out there, but not all are worth your time and attention.
After extensive research, our team narrowed the list down to the best hot wallets. Let’s see how you can benefit from it.

Top Hot Storage Crypto Wallets Reviewed

In the following section, we’ll review the best hot wallets in more detail so that you can understand their differences and their respective advantages and disadvantages. This should help you decide what’s best for you.

1. Best Wallet – Best Hot Wallet With Multi-Chain Support, High Security, and Exclusive Market Insights

Best Wallet is a hot new crypto wallet with a user-friendly design, rewarding features, and high security. It is a non-custodial wallet, ensuring you have full control over your assets.
The wallet supports Ethereum, Polygon Mainnet, and BSC Mainnet. It plans to extend support to Bitcoin and other top blockchains, making it a versatile multi-wallet, multi-chain solution.

Moreover, it understands the importance of market analysis. The wallet offers real-time market insights, essential industry news, and insights on token sentiments.
It also provides early access to high-potential projects before they are listed on exchanges, giving users a competitive edge.

Best Wallet also plans to roll out the BEST token airdrop as a reward for its active community. Participants can enjoy unique perks like zero gas fees and exclusive airdrops.
The BEST token is a utility and governance token within the Best Ecosystem, offering additional features like advanced market tools and early access to new token launches.
Integrated with Best DEX, the wallet allows for seamless decentralized trading. Users can benefit from low-cost trades and real-time market analytics directly within the app. The synergy between Best Wallet and Best DEX offers an unmatched trading experience.
As NFTs continue to gain traction, Best Wallet offers an in-app NFT Gallery. Users can store, buy, sell, and manage their NFT collections effortlessly, making it a comprehensive solution for digital assets.

Additionally, security is a priority for Best Wallet. It offers top-tier security with advanced cryptography, 2FA authentication, and biometric measures.

The wallet’s roadmap is strategically planned to be user-focused. Upcoming features include Web3Auth Integration, Multi Wallet Support, Crypto 101 Education, and the much-anticipated launch of the BEST token.
The wallet is currently primarily a mobile app, but there are plans for a desktop version to improve accessibility.
You can follow the project on various social media platforms like X (Twitter) and join the Best Wallet Telegram channel to keep up with all the updates and milestones.
Pros:

Multi-Chain Support
Advanced Features
Strong Security Measures
High Community Incentives
Comprehensive NFT Support

Cons:

Best Wallet is only accessible via mobile apps on the App Store and Google Play Store. A browser extension will be available soon.

Visit Best Wallet

2. Zengo – Top Hot Wallet Where Users can Buy, Sell, and Trade 120+ Cryptocurrencies

The Zengo wallet is an intuitive, feature-rich mobile hot wallet that is protected by multi-party computation (MPC) cryptography, for which Zengo hosts the largest open source library. Zengo wallet undergoes annual security audits and, having been in operation since 2018 and serving over 1 million customers, has never had a report of a hack.

The Zengo mobile app has receive a rating of 4.78/5 from thousands of customers on both the Apple App Store and Google Play Store. On the app, users can buy, sell, and trade over 120 cryptocurrencies alongside NFTs from multiple blockchains.

Other features of the Zengo self-custody wallet include 24/7 customer support, a novel, seed-phrase-less wallet recovery method, an NFT gallery, and a dApp marketplace with connections facilitated by WalletConnect.

All of these features are a part of the free version of Zengo wallet, but a Pro version ($69.99 per year) offers more advanced features to users, including:

Legacy Transfer: Automatically move assets to a new wallet after a user-defined period of inactivity
Theft Protection: Multi-factor authentication protection for large transactions
Web3 Firewall: Get alerts about Web3 attacks, and protection from them
Priority Support: Guaranteed responses within 1 hour, but typically within 5 minutes

Pros

Support for 120+ cryptocurrencies
Buy, sell, and trade cryptocurrencies and NFTs
High customer ratings on app stores and Trustpilot
Annual software audits
Seed-phrase-less wallet recovery
Over 1 million customers and no reports of a hack
24/ customer support

Cons

Web3 Firewall and Theft Protection services require upgrades
Crypto prices are marked up compared to market prices

Visit Zengo

3. YouHodler – Leading Hot Wallet With Up To 15% APY on Popular Cryptocurrencies And Bitcoin Rewards With Cloud Miner

YouHodler, a veteran in the crypto space since 2019, is one of the most popular crypto wallets because it offers a plethora of valuable features like multi-chain swapping and yield earning on select coins.

You can store coins and tokens from a variety of blockchains, including Bitcoin, Ethereum, Ripple, Chainlink and more in a single app. On top of that, you can convert these coins into fiat and vice versa.

But what’s “hodling” worth if you don’t earn something while you hold? YouHodler offers yield earnings on select cryptocurrencies. Litecoin has the highest annual percentage yield (APY) of up to 15%, while Solana has an APY of up to 13%. The latter is more than the 8% you earn by natively staking Solana on its own blockchain.

USDT and USDC stablecoins offer up to 12% APY, which is the highest yield you can find with these types of coins. However, to get the maximum yield, you need to have a trading volume of $150,000 each month or meet any of the other criteria to advance in Gold, Platinum or even VIP levels. The Basic APY is 6% for stablecoins, which is still competitive and enough to beat the yearly inflation.

If you’re all about Bitcoin, you can also earn yield of up to 4.5% APY with YouHodler’s yield program. But you can also earn up to 0.2 BTC per month with Bitcoin Cloud Miner. The way it works is you complete certain tasks to earn sparks. These sparks are then used in the Cloud Miner to mine Bitcoin blocks and earn BTC.

If you’re strapped for liquidity use YouHodler’s crypto loans where you use your cryptocurrencies as collateral to get fiat currency like EUR, USD, CHF, GBP or even other cryptocurrencies. This means you don’t have to sell your assets if you don’t want to. Loan-to-value is 90% and collateral options include popular cryptocurrencies like Bitcoin, Ethereum and Solana, but also less prominent ones like AXS, MANA, SAND and APE.

This all-in-one crypto wallet is an EU and Swiss-based company, regulated in Switzerland, Italy and other EU countries. For the safety of your digital assets, YouHodler uses Ledger Vault technology with $150 million in pooled crime insurance. There’s also 2FA authentication and biometrics if your smartphone supports this feature.

Pros:

Multi-chain support
Up to 15% yield on select cryptocurrencies
Earn Bitcoin with Cloud Miner
Crypto loans with 90% LTV
Crypto to fiat exchange

Cons:

Not available for US residents.
$100 minimum crypto loan

Visit YouHodler

4. MetaMask — Popular Crypto Hot Wallet for the Ethereum Network, Offers Staking

MetaMask supports tokens on the Ethereum network as well as chains like Polygon, Avalanche, and Binance. Therefore, it means you can store ERC tokens which gives you access to hundreds of thousands of projects, each with its own ecosystem that follows ERC standards.

MetaMask is often used to buy various coins during the initial sale. For example, most of the best metaverse coins in 2024 can be purchased and stored in this wallet. In other words, as the Ethereum network grows, more crypto tokens are accepted.

MetaMask is different because it streamlines how we access decentralized apps and smart contracts on Ethereum. As a Chrome plugin, you just need to give access to MetaMask if you’re going to use a dApp, without having to register and provide any sensitive data. You’ll need to set up a passcode and write down your recovery phrase as part of MetaMask’s security features.
Pros:

Accepts thousands of crypto coins
Available as a Chrome plug-in
Non-custodial, ensuring maximum privacy level
Easy to use and intuitive
Easily connected to decentralized applications

Cons:

Desktop app not available
Bitcoin is not accepted (only Ethereum coins)

5. Trust Wallet — Top Hot Crypto Wallet for Binance Users with Built-in Staking Features

Trust Wallet is part of the Binance family, the largest online cryptocurrency exchange in the world. It’s for this reason that it made it to our list of the best hot crypto wallets.
It’s a software app with a built-in Web3 browser that accepts a range of popular cryptos, including the Binance-native token BNB. The wallet can be easily connected to the Binance crypto exchange, and 60+ million people use it.

Users also believe Trust Wallet deserves recognition, ranking it high on App Store and Google Play. Thanks to its great service, Trust Wallet also made it to our list of the best decentralized crypto wallets of 2024.

The only downside is that some newcomers might find the buying feature confusing. After all, Binance is an exchange mainly designed for experienced traders.
Pros:

Highly ranked on Google Play and App Store
Part of the Binance family of products
Suitable for new users (except for buying/selling)
Built-in staking functionalities
Many cryptos and NFTs accepted

Cons:

Some features might be confusing for inexperienced users
Cold storage not an option

6. Electrum — Bitcoin-Focused Hot Wallet with Multisig support

Electrum likes to keep things simple, so we consider it the best Bitcoin hot wallet for beginners. Moreover, it’s an open-source app, meaning anyone can access its code. It was made in the spirit of decentralized technologies, which makes it popular among Bitcoin owners.

The bad news is that Electrum won’t help you much if you want to store cryptos other than Bitcoin, as digital gold is all it accepts. Therefore, if you want to use other cryptocurrencies or trade them actively, it’s best to opt for a different hot wallet. On the other hand, if you’re going to focus only on BTC, Electrum will give you everything you need for a seamless experience.

Since it only focuses on BTC, learning how Bitcoin mining works could give you a more comprehensive understanding of how to use this wallet.
One of the biggest disadvantages of this option is the lack of support for iPhones, as it’s only available for Android users besides desktop computers.
Pros:

Secure and trustworthy
Open-source
Multisig support
Easily implemented with third-party plugins
Beginner-friendly BTC-only wallet

Cons:

Only Bitcoin is accepted
Staking not available
Not available on iPhone

7. Coinbase Wallet — Leading Crypto Wallet with 2FA Security and Staking

Like Binance, Coinbase is one of the most popular online cryptocurrency exchanges in the world, focusing mainly on the US market. However, it also operates in many other countries around the globe, albeit at a limited capacity.

Coinbase Wallet can communicate with the main exchange, making it a suitable solution for Coinabse traders. Coinbase definitely wants to grow more beyond the US, and the Hong Kong legislator is one of the bodies to invite the popular platform to its market.

So far, we only noticed two disadvantages to using this wallet. The Coinbase wallet isn’t open-source, and the brand itself has been subject to penalties from US regulators for not fully complying with the law.
Still, we would list it as the safest hot wallet for US residents relying on Coinbase to exchange funds.
Pros:

Intuitive user interface
Easy setup
Part of the Coinbase exchange
Easy transfer
Range of useful features

Cons:

Costly
Not open-source
Limited access

8. Exodus — Popular Non-Custodial Cryptocurrency Wallet with $0 Fees when Buying Cryptos

Exodus is a crypto wallet accepting a range of cryptocurrencies — more than 260, to be precise. The wallet is suitable for experienced users and beginners alike and is available on various devices, including PCs, Androids, iPhones, and more. You can even install it as a Chrome plugin. You can also download it as a standalone app for Windows, macOS, and even Linux.

Exodus is so versatile it even appeared on our list of the best Ethereum wallets of 2024. On top of that, it’s partnered with Trezor, a popular cold storage device provider. As a result, you can seamlessly connect your Trezor wallet to Exodus to manage your digital assets.

Pros:

Suitable for beginners and advanced traders
Built-in staking
Round-the-clock support
No fees for buying crypto
Easily connected to the Trezor wallet

Cons:

Not open-source
Lack of some security features

9. OKX — Self-Custody Hot Wallet for Mobile Devices Connects with More Than 200 dApps

OKX is one of the best hot wallets relying on self-custody for private keys. It’s connected to 15 different blockchain networks, meaning it can accept thousands of cryptocurrencies. The only downside: Bitcoin isn’t one of them. In other words, OKX doesn’t accept digital gold, but it supports a range of alternatives, including Ethereum, Binance Smart Chain, Polygon, and more.

The wallet can work with 200 different dApps you can access without providing any personal information. Overall, OKX’s convenience was enough for us to list it as one of the best crypto wallets for beginners.

Pros:

Easy to accept tokens
Connects with more than 200 dApps
Accepts 15 different blockchains
Supports thousands of cryptos
Available for iOS and Android

Cons:

Bitcoin not accepted
Fee structure determined by the connected dApp

10. Mycelium — Security-Focused Mobile Hot Wallet with Streamlined Payment Verification

Mycelium is, first and foremost, a mobile cryptocurrency wallet that places a strong emphasis on security. The wallet gives you complete custody of your private keys, which are retrievable with a single seed phrase. Unlike many competitors, Mycelium doesn’t include any staking options or similar capabilities, as it’s mainly used for storing digital coins.

Mycelium’s great security earned an honorable mention in our list of top privacy wallets. Users aren’t required to register or provide any sensitive data when using Mycelium, effectively making it an anonymous crypto wallet.

Pros: