Best Crypto Wallets in the UK

The crypto wallet market is expected to grow from USD 8.4 billion in 2023 to USD 42.7 billion in 2031, which is a significant percentage.

To date, more and more businesses are starting a journey in crypto, using crypto for various financial transactions. According to Horizon Research, the crypto wallet market in the UK is expected to reach a projected revenue of USD 3,416.8 million by 2030.

In addition, more crypto wallets are being launched every year, and existing solutions continue to improve and add new options. Such wallets as eToro, Coinbase and Metamask are the perennial favourites of all UK crypto customers. However, there are new solutions that are worth your attention. And we're going to review them today.

Choosing the best crypto wallet option is crucial for anyone ready to dive into the world of crypto. With statistics showing that crypto wallet adoption is already inevitable, it's high time to explore different options and choose the best wallet for your needs. To make sure you're on the right track, you'll need to weigh up various criteria: robust security measures, interface, fees, number of crypto assets available and more.

Best Crypto & Bitcoin Wallets in the UK Ranked

Right now nearly 4.97 million people in the UK hold some crypto assets, and many of them use a safe hot or cold wallet for this purpose. Both newbies and experienced users pay attention to similar features of a wallet like user-friendliness, easy access and many more.

Factors to Consider When Deciding

Before evaluating different wallets, we have identified the most important criteria that allow us to decide how good a particular wallet is.

The main criteria are:

• Speed
• Number of coins supported
• Number of integrated exchanges
• User friendly interface
• Ease of installation
• Wallet compatibility
• Enhanced security

Let's take a look at the most popular hot and cold hardware wallets in the UK and analyse all the pros and cons. Let's start with the hot wallets, which represent the majority of solutions in terms of user demand.

Best crypto hot wallets in the UK in 2024

eToro wallet

eToro wallet is one of the most solid crypto wallets on the market. It was created in 2007 and the original goal was to create a super convenient solution for Forex trading. Later, in 2018, eToro launched its crypto wallet solution, eToro Money, for storing and transferring cryptocurrencies. Very soon, eToro became a global leader in crypto management thanks to the numerous benefits offered by its creators. It is also widely used as a bitcoin wallet uk best solution.

eToro Money wallet is a custodial hot wallet combined with many other solutions as well .This wallet is famous with its low fee policy: it has no deposit fees, 2% withdrawal fees and 1% commission on crypto trades.

Keep in mind that eToro also has a 10% fee for users', which means that if you remain inactive for a year, the platform will charge you. It's just one of the marketing ways to keep you active and efficient on the platform.

Number of coins supported: +190

Exchange compatibility: compatible with the eToro exchange platform

Compatibility: Web, iOS, Android, Windows, Mac OS

Pros:

• Quick and easy integration with eToro's exchange platform
• Multi-crypto support
• In-App conversion
• Ability to restore private keys
• User-friendly for beginners

Cons:

• No full control over your private keys: you can recover them, but you don't own them 100%.
• High transaction fees for certain types of transactions
• Lack of more complex services for experienced users

Coinbase wallet

Coinbase software wallet was launched in 2018, as the company was striving to create an all-in-one mobile solution for its customers. There was a certain demand from users who wanted to have much more control over their private keys as well as manage big amount of digital assets, which were previously presented on the Coinbase platform.

Thus, Coinbase management designed the wallet with the extensive number ofcommonly used cryptocurrencies along with the rarely used and purchased ones on the market, including some rare Memecoins. It is also one of the most popular bitcoin wallets among users.

Among all mobile wallets, Coinbase has a little bit higher fees, including a 1% commission on all transactions. In addition, users will have to pay transaction fees that may vary depending on the currency you choose. For example, if you choose bitcoin, the transaction fee can vary from $1 to $5. However, the rest of the cryptocurrencies have lower fees that usually don't reach 1%. Deposit fees tend to berelatively low, reaching $10 for bank transfers.

Number of coins supported: +200

Exchange compatibility: Yes

Compatibility: Web, iOS, Android, Windows, Mac OS

Pros:

• Highest crypto security on the market: 98%assets are stored in cold storage for added security
• 2FA authentication
• Intuitive interface: easy to navigate for new customers
• Multi-currency support

Cons:

• Limited advanced trading tools for experienced traders
• Higher commission fees compared to other hot wallets
• Low level of flexibility: the wallet is implemented within the Coinbase ecosystem, which can be a real issue for users who want to have some freedom in their transactions.

Metamask wallet

Metamask hot crypto wallet is one of the longest standing solutions of DeFi. It is an Ethereum-based wallet with 30 mlnusers active on the platform per month and is one of Coinbase's main competitors. It's not connected to any exchange, which is why many users find it preferable to Coinbase. Metamask still holds its top positions in users' choice of wallet. However, it does have its advantages and disadvantages .

Metamask was developed by Consensys, the leading blockchain and Web3 software company. It was focused on the Ethereum ecosystem and its main goal was to give users easier access to the system, make it more recognisable and ahead of all the others. Soon the wallet started to evolve and the developers implemented many additional features, including in-wallet token exchange and many more. Currently Metamask supports many networks including BSC, Avalanche, Polygon and many more.

Metamask is a non-custodial crypto wallet, so you have control over all your data and private keys. There's no necessity to provide the platform with any additional information about yourself and you don't have to go through KYC.

This hot wallet has the perfect user-friendly interface. There are many third-party dApps to interact with for starters.

Metamask is one of the most flexible crypto mobile and desktop wallets, offering a mobile app and browser extensions that work perfect with Chrome, Edge and Firefox. It is very convenient for different types of transactions, including DeFi, NFTs, and Web3. Customers can complete all their financial needs and also select the best setting for their crypto with this hot wallet.

Numbers:

Number of coins supported: +100

Exchange compatibility: Yes

Compatibility: Web (Chrome, Firefox, Brave), iOS, Android, Windows, Mac OS

Pros:

• Quick registration process: no KYC or ID information required to get started
• Compatible with many blockchain networks
• In-App crypto trading solutions
• User-friendly interface
• Various extensions available
• Browser and mobile support
• Easy dApp integration

Cons:

• Lack of bitcoin
• No 2FA authentication, only device security
• Historically high Ethereum transaction fees

Best wallet

Best Wallet is a non-custodial crypto wallet solution perfect for newcomers to DeFi. It was created as a means for managing numerous assets across various blockchain networks. It was designed as a one-stop crypto management tool with a strong focus on multi-chain portfolio management.

As a non-custodial crypto wallet, the Best Wallet app also doesn't require KYC or other identification procedures. It focuses on fast decentralised authorisation, which means you're responsible for all your data, passwords and keys. However, you may not need all that stuff in this app. The app's security framework is designed in such a way that you don't actually need a seed phrase. You can log in using just your email, Google ID or Apple ID. This makes restoring your account a matter of minutes or less.

One of the most outstanding features of Best Wallet is its unique Upcoming Tokens tool, which provides exhaustive information into pre-sale tokensuseful for experienced users. Here you can check a lot of useful data, including launch and end dates, allocation details, prices and much more. It's very advantageous data for investors who want to evaluate all the opportunitiesright now. In addition, Best Wallet offers more detailed "DYOR" data, such as roadmaps, social media metrics and much more.

Best Wallet operates over 60+ chains, providing seamless and easy same-chain and cross-chain exchanges.

Numbers:

Number of coins supported: +1000

Exchange compatibility: Yes

Compatibility: Web, iOS, Android

Pros:

• No KYC required
• Many advanced features for traders and investors, including pre-sale token details
• Supports over 1000 cryptocurrencies
• Supports over 60 blockchains
• availability of in-app trading

Cons:

• Limited desktop wallets functionality
• Many services are still under development

Trust wallet

Trust crypto wallet is backed by Binance, which means that it has a somewhat centralised nature, despite the fact that it operates independently. However, there are many inner services that make this crypto app one of the best hot wallet solutions on the market today.

Trust Wallet is a non-custodial wallet, which means you have absolute control of all cryptoassets and your personal data as well.

It is completely customer friendly, with an intuitive design and both mobile (compatible with iOS and Android devices) and desktop wallets versions for Google Chrome, Edge and Brave.

In addition, Trust Wallet offers a wide range of services and options for everyone. It operates with over 65 blockchains and allows access to more than 4.5 mln digital assets. This makes Trust wallet one of the most versatile crypto wallets on the DeFi market today.

Trust software wallet fully supports dApp integration, making it easy to track different assets in one place. Like Best wallet, Trust wallet has an in-app decentralised exchange system, which is the best way to store, track and process other transactions involving different types of art, NFTs and other collectibles.

More experienced users will also be happy with a number of built-in trading options, such as staking different cryptos and getting additional revenue without leaving the app.

Numbers:

Number of coins supported: +65

Exchange compatibility: Yes

Compatibility: iOS, Android

Pros:

• Built-in positioning options
• Built-in DeFi exchange
• NFT support
• Allows crypto purchases via credit or debit card
• Supports numerous blockchains

Cons:

• Browser extension still needs a lot of improvements
• Direct withdrawals from bank accounts are not allowed

Best crypto cold hardware wallets in the UK in 2024

Cold crypto wallets are designed to store cryptocurrencies offline and are considered a safer way to store your crypto assets as keeping private keys offline is always the best decision. As such, cold wallets offer maximum protection.

Here are some of the most popular ones in the UK at the moment.

Ledger Nano X

This portable high-security cold hardware wallet offers you exceptional security in managing your crypto and NFTs .

Ledger Nano X supports over 5,500 coins and tokens available on +100 apps you can install, allowing you to control numerous digital assets without wasting time switching between different tools.

Ledger Nano X is Bluetooth-enabled, which means it can connect to your phone, making it easier for you to explore the interface.

This cold hardware wallet also allows you to earn additional income by betting Ethereum, Solana and other stuff through the Ledger Live app. So you can store your assets on the Ledger Nano X and increase your profits at the same time.

Numbers:

Number of coins supported: +5500

Exchange compatibility: Yes

Compatibility: Windows, macOS, Linux, Android, iOS

Pros:

• Bluetooth enabled: wirelessly connects you to your mobile device
• Robust security features: certified to the CC EAL5+ security standard
• Huge asset support: over 5500 coins and tokens available
• Extensive application support: +100 services on the list

Cons:

• High price: around £120-£140
• Battery life: The Ledger Nano X needs to be recharged every few hours of active use.
• Small screen: may not be enough for some operations with hardware wallets

Trezor One

This cold hardware wallet is often chosen for long term usage. Trezor One has a high level of security: each of your transactions is verified separately. In addition, Trezor physically confirms all transactions within its system, so you can be sure that every single operation is complete.

What's more, Trezor One is one of the safest hardware wallets on the market: offers an extra level of security by allowing you to set a custom PIN (up to50 digits max), ensuring that no unauthorised person will have access to your wallet. If that's not enough for you, you can also set a passphrase: think of a unique letter-word combination to use every time you sign in your wallet.

Trezor One hardware wallet has a robust backup that allows a multi-word recovery seed: keep it in a safe place and your crypto assets will always be safe.

Trezor has a well-established reputation, which is why many users trust their assets to this wallet. Also, Trezor has always been open source, which means that any user can explore the wallet's backend and contribute to its effectiveness.

Numbers:

Number of coins supported: +1100

Exchange compatibility: Yes

Compatibility: Windows, macOS, Linux, Android, iOS

Pros:

• Long-standing reputation: Trezor is known for its high security and top quality hardware wallets and other products.
• Multi-level security: physical approval of all operations, PIN, backup available
• Compatibility with other devices: works well with various desktop and mobile wallets

Cons:

• Fewer coins available compared to other hot and cold wallets
• Slower processor: some models already have a faster processing speed
• No mobile application available
• High price: over £200

Tangem Ring

This is often referred to as the best cold hardware wallet for beginners. This innovative card-based tool was created with the aim of changing the way we use crypto.

Cold hardware wallets are often considered to be more complex to use. However, Tangem Ring was designed to be user-friendly, as its main goal is to accelerate the mass adoption of cryptocurrencies.

The developers have introduced many cool features to this wallet, including staking, connections to Solana decentralised applications (dApps) and live market data.

Any user can register within 3 minutes - no special knowledge is required. Onboarding will be available for any newcomer.

In addition, Tangem Ring hardware wallet has one of the highest security protections: EAL6+ certified. Thus, your private keys are in a safe place. The developers have added an access code and biometric identification for extra security.

Numbers:

Number of coins supported: +13000

Exchange compatibility: Yes

Compatibility: Windows, macOS, Linux, Android, iOS

Pros:

• Unlimited number of coins supported
• High level of security
• User-friendly interface
• quick setup
• Independently certified by Kudelski Security and Riscure
• High level of transparency : open source Tangem application code available on GitHub

Cons:

• Small amount of trading features available compared to other hardware wallets: stop orders, limits and other similar tools are not on the list
• Does not currently support Monero (XMR)
• Lack of global recognition among hardware wallets

Quick Answer: Which Wallet is the Best?

It is important to consider all your needs and objectives before choosing the type and brand of wallet. The first thing to consider is the type of wallet: hot or cold hardware wallet. If you need to keep your money safe for the long term, a cold wallet is the way to go.

Hot crypto wallets such as Best Wallet or MetaMask are perfect for frequent trading and quick access to all your funds.

Here are some factors to consider before buying a wallet:

Enhanced security: Whether hot or cold hardware wallet, the wallet must be vetted and have a high level of security such as strong encryption, two-factor authentication (2FA), backup and other options for added security.

Number of supported cryptocurrencies and blockchains: this can be crucial for you if you are looking for the perfect tool for cross-chain trading or simply want to store a lot of assets at once. Your large crypto portfolio can become a problem if the wallet you choose has limited asset/chain support.

User-friendly design: No matter how many complex services are presented on the wallet, any tool must be easy to use for your comfort and convenience. It needs to be understandable to both novice and experienced users.

Compatibility: the more options you have, the better. You may not need a desktop version of your wallet now, but who knows what the future may hold. So make sure you have plenty of usage options, including compatibility with desktop, mobile and web-based devices.

Price: Always compare the number of features in the wallet with the price of the device. This ratio can be crucial when choosing your wallet.

Reputation of the team: make sure you're dealing with an experienced team that has been in the market for a while. Check out their work, make sure they have some successful projects in their portfolio. 

Store your assets safely and enjoy!