The Best Desktop Bitcoin & Cryptocurrency Wallets
Are you thinking about investing in crypto or trading it? The first thing you would choose is a set of your preferred cryptocurrencies. After that, you need a wallet to store your digital assets. Many users have issues with that because it is not clear what a cryptocurrency wallet is and how to use it.
It is common to believe that a wallet is a place where you store your coins. Many people compare it to a usual physical wallet. This is far from the truth though.
The coins are stored in a blockchain. A wallet is used as storage for private keys, proof that specific coins belong to you.
What Is a Desktop Wallet?
There are many types of wallets, and it might be pretty confusing for a beginner. If you want to keep your funds safe and access them easily, the best option is a desktop wallet.
A desktop wallet is a special application that you download onto your desktop. If you keep your computer connected to the internet, your wallet can be classified as a hot wallet. Turn off your computer, and the wallet turns into a cold wallet.
Why Should You Consider Desktop Wallets?
A desktop wallet offers a number of benefits compared to other wallet types. It is safe under the condition that you keep your antivirus software and OS updated. Your private keys are stored directly on your desktop, along with other security features.
Desktop wallets have a user-friendly interface which makes them convenient for beginners. You can store your coins, trade them, transfer them, or even stake them in a matter of a couple of clicks.
What to Look for in a Crypto Wallet?
When you are choosing a cryptocurrency wallet, including a desktop wallet, make sure it complies with the following requirements:
- The wallet shall support the cryptocurrency you are going to store.
- It provides two-factor authentication.
- The wallet developer is reliable and has experience in the field.
- The wallet is easy to use.
- Your desktop crypto wallet has positive reviews online.
What to Avoid When Choosing a Desktop Wallet?
Along with the features to look for, there are features that can serve as red flags when choosing a desktop wallet. If you see one of them, it means that your funds are at risk. Avoid using a wallet if:
- It has had security issues and you cannot find information on whether they were resolved.
- It is difficult to use.
- The number of features is limited.
- The firmware is not updated.
- A wallet doesn`t have developer support.
The List of Top 5 Best Desktop Crypto Wallets in 2024
To facilitate the selection, we have prepared a list of the best cryptocurrency wallets in 2023. Needless to mention that they comply with the requirements given above. You can compare the features they provide and choose the best desktop cryptocurrency wallet that you will be using for all your operations.
Electrum
Cost: Free
Exchange Integrated: No
If you are looking for the best Bitcoin desktop wallet, have a closer look at Electrum. It is one of the oldest wallets known for its impeccable reputation.
The Electrum interface is user-friendly, even a complete newbie can use it without complications.
Security is one of the main priorities of Electrum developers. It is one of the safest desktop wallets ever. It doesn`t store any information about the user`s funds such as private keys, etc. It means, however, that if you lose them, you lose your funds, there is no way to recover them.
The commonly used security features such as two-factor authentication, password, and other measures are also available.
Electrum has one drawback: the lack of all those fancy features pertinent to more modern wallets. If you can put up with this, you can use Electrum without any doubt.
Exodus
Cost: Free
Exchange Integrated: Yes
Exodus is among the best desktop wallets for altcoins and cryptocurrencies in general. This wallet is the best option for those who don`t want to limit themselves with a standard selection of coins. It allows you to store as many coin types as you need.
Along with an app for a desktop, you can also use the app for your preferred mobile device.
Exodus doesn`t have connected hardware. You download the app for free and use it.
Another comfortable feature of Exodus is an integrated exchange. It allows you to swap coins without moving to another service and depositing any coins there.
Regarding security, Exodus is among the best desktop Bitcoin wallets in the market. It offers solid backup functionality. Even if something happens with the device where the wallet is installed, you will be able to recover your funds. The seed phrase recovery function is available, too. However, Exodus doesn`t have two-factor authentication which is strange indeed. It might be a serious obstacle in using the wallet even though in other aspects, it is perfect.
Guarda
Cost: Free
Exchange Integrated: Yes
Guarda is one of the best wallets for desktop (Windows, Linux, MacOS). Along with a desktop version, you can choose a wallet for your mobile device or you might prefer to use the Guarda web wallet.
The Guarda wallet supports hundreds of tokens and coins across more than 45 blockchains. An integrated exchange allows you to purchase and sell cryptocurrencies in one place, without moving to other platforms and depositing your funds there.
It supports Visa and MasterCard cards for crypto purchases, which makes the service even more attractive.
The Guarda wallet supports more than 10 coins available for earning with staking.
Guarda provides non-custodial service. It doesn`t store your private keys, backup files, or similar information.
The wallet is being upgraded constantly, new features are added to comply with all market`s demands. So, by choosing this wallet, you can be sure that you are getting one of the best options available.
Jaxx Liberty
Cost: Free
Exchange Integrated: No
Jaxx Liberty is well-designed, has a user-friendly interface, and is suitable for both beginners and crypto experts. It is a multi-currency wallet that supports over 100 coins. Within the wallet, users can switch between cryptocurrencies without paying any fee and with no delays.
The unified Jaxx Liberty dashboard allows you to check all your wallets. A blockchain news viewer helps users to be updated about the relevant blockchain news. Block explorers allow for direct communication with blockchain and check the transaction data. Many more features are available, and new ones are added constantly.
Trezor Suite
Cost: Free
Exchange Integrated: No
Trezor Suite is not an actual desktop wallet but a desktop application that allows Trezor users to use their hardware wallets without connecting to the internet. While earlier users needed to run the Trezor Bridge app along with a Trezor Wallet browser plugin, now they can connect to the internet with a single App, Trezor Suite.
This app eliminates the need to use an internet browser. With it, the risk of phishing attacks and other security threats is eliminated.
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