5 Best Mobile Cryptocurrency Wallets 2021

Welcome to our list of the Best Mobile cryptocurrency wallets for this year. This is an explainer for beginners, as well as a list of what we think are the best wallets in terms of the offerings that they give. We are going to go through all of these wallets in terms of security prices and fees, who they are as companies, their history and everything. So that you can make an informed decision, because they do have different features and depending on if you’re a beginner or a little bit more advanced, you might want to go for one or the other.

Best Mobile Cryptocurrency Wallets

We’ll also link all of these platforms so that you can go through, see them and check out their websites and their FAQs and everything.

Why Use and What Are Mobile Crypto Wallets?

Firstly, we want to go over why you choose a mobile or an online type of wallet, versus hardware or offline type of wallet. These are some of the things that we should be looking out for when choosing a mobile wallet.

All of the wallets in this post are called Mobile or hot wallets, meaning they’re actually online. So you will store your crypto with the app or the platform. When you trade cryptocurrency you usually go to a cryptocurrency exchange to buy. But storing it on the exchange is definitely not safe, which is why people actually use cryptocurrency wallets, so they can more safely store their bitcoins and other Cryptos.

The upsides of hot wallets or online wallets compared to hardware wallets, sometimes called Cold wallet is the ease of use and the availability of funds. You can log into your account, see your cryptocurrency there and send, receive and also use it to pay for things very easily.

With mobile wallets, you can scan QR codes to use your cryptocurrency, pay for things, or send them to people. Cold wallets are much safer because your cryptocurrency is stored. Literally, it’s like a USB stick with extra security. That can be stored somewhere safe, but obviously, it’s not convenient to carry that around, especially if you’ve got a lot of money on there. Of course not really that convenient as a payment system.

Best Mobile Cryptocurrency Wallets Apps

In any case, most experts agree that a cold wallet or an offline hardware wallet is the safest option in terms of ease of use, and also convenience. Hot wallets or mobile wallets do have their place as well.

Trust Wallet

Anyway, let’s get on to the first one which is trust wallet. Trust wallet actually started as an independent service but it was bought out by a company called Binance, a few years back. Binance is a big name in the industry, it is one of the biggest currency exchanges as well. They have a separate exchange platform called Binance which you could go and check out. You can go through and use it for free, but they also have Trust Wallet which is obviously their wallet offering.

trust wallet

Well, it’s not exactly the same as exchanges. An exchange is like a stock exchange, people go there to buy and sell cryptocurrencies. Wallets are actually different apps, and they’re really a secure place to keep your cryptocurrencies.

If you do use Binance as an exchange, you don’t need to use Trust Wallet. But obviously, the two go hand in hand, and if you’re signing up for an account, trust wallet is right there. So there’s been a lot of people that use Binance.

Binance also has many consumer-friendly features. If you’re not really into cryptocurrency, signing up for an exchange with all the charting software, and everything is just a bit out of your league. Then you can use Trust Wallet. You can also exchange your crypto for all of the other cryptocurrencies supported.

Trust Wallet also offers something called staking, this is where you actually put your Bitcoin or other Cryptos on account for a long time. It can also gain some interest because you have that in the system. It’s a bit like having a high-interest savings account, where you have to put your money in for a certain amount of time, you get a higher interest rate. Not all coins support staking though, so definitely check that there’s a good option that Trust has.

trust wallet app

You can also use credit cards to purchase your crypto in the app, and sending and receiving Cryptos is very easy. You just simply enter the address of the wallet that you want to send something to or vice versa. And it’s a very simple process.

Trust Wallet is an open-source project, which means anyone can go in there and look at the code. It does have some advantages in terms of security overall. It is completely free to use as well, it doesn’t have a subscription service or any recurrent fees.

There are fees to do with transactions, there are certain fees, sometimes called gas fees. This is standard across the industry, so every wallet is going to have these fees and they’re going to be the same. Based on what you trade in terms of security and also anonymity Trust Wallet is right up there. There’s absolutely no KYC information asked when you sign up for Trust Wallet.

When it comes to KYC its requirements are low. While on others, if you’ve ever signed up for a stockbroking account, you’ll know you have to give all of the information about yourself. It might be even your ID, well with a Trust Wallet account, you don’t give up anything, so you have complete anonymity.

There’s also a 12-word password phrase that you get when you sign up for a Trust Wallet. That is extremely difficult to crack, and you need to make sure that you have that somewhere written down in a safe place, because if you do lose that, then you’re not going to have access to your account.

Get it for Android
Size: 31MB
Requirements: Android 6.0 and up

Get it for iOS
Size:37.7 MB
Requirements: iOS 13.0 or later.

Coinbase

Next up is Coinbase, this is a trusted name and a name that has been around a long time. If you search for anything to do with cryptocurrencies. You’ve probably heard of either Coinbase Wallet or their trading and exchange platforms called Coinbase and Coinbase Pro Coinbase wallet. It’s not mandatory to have a Coinbase Pro Exchange account to actually get Coinbase Wallet.

coinbase

As we said, they are kind of separate services, so you can only have a Coinbase Wallet and not have a Coinbase Pro account. Coinbase is known for being one of the most secure cryptocurrency wallets. They’ve never been hacked, and they even managed to stop hundreds of $1,000 worth of bitcoin from being transferred out of their customer’s accounts during the 2020 Twitter hack.

You do have to give up some of your privacy and anonymity. For 99% of us, just normal people, just trying to get into cryptocurrency, buy some bitcoin and hold it. It’s not going to be an issue whatsoever, but of course, some people trade cryptocurrencies for a reason, want to be anonymous.

coinbase app

Coinbase is completely free to download and use. And you’ll be able to transfer your coins into the wallet free of charge. You can also hold coins, and US dollars in a wallet for free. You can buy bitcoin and other cryptos in the wallet app, as well. You just deposit fiat currency like US Dollars or every currency is supported. Coinbase act essentially like a stockbroker, so they’re going to give you a service, and they do charge for that now.

Get it for Android
Size: Varies with device
Requirements: Android 6.0 and up

Get it for iOS
Size: 84.9 MB
Requirements: iOS 11.0 or later.

eToro

Moving on to eToro, and this may be a really good choice for people that want a more consumer-friendly type of service. eToro is what we call a full-service broker. You can buy stocks and shares, and trade CFDs as well. They’ve recently added cryptocurrency trading as well.

You can actually sign up for an eToro account and within your trading systems, you get a cryptocurrency exchange and you can buy Bitcoin. For example, eToro provides a wallet, and you can use the same account information to sign up for that. There are some extra security protocols that the one it has though.

etoro

One of the things that you do give up, though, is your anonymity. So if you sign up for an eToro account, they do ask for a lot of information, this does increase security. But your anonymity is gone, so if that’s important for you, you’ll have to go with other wallets like Trust.

The eToro wallet supports over 120 cryptocurrencies, you can use the wallet to buy things in any stores that support Bitcoin or Aetherium. For example, you can also send and receive currency between this and other wallets. Deposits are completely free as well, so if you want to use credit cards or Paypal or other payment options to deposit, US dollars or Pound Sterling, you can buy some cryptocurrency that is free to deposit.

etoro app

Like the other wallets, if you send and receive cryptocurrency from the wallet, you have to pay gas fees. This is industry standard, so it’s the same amongst all wallets. If you want to trade and buy bitcoin from the wallet or the eToro trading platforms, that is commission-free as well.

Although eToro makes their money in the spread. This is a very standard way of the broker making their money. Obviously from all of the services that they provide. But it’s nice to know that you don’t have any commissions on top.

Both the eToro trading platform and eToro wallet are very good at consumer-focused apps. They give all the services that you would want if you’re trading and cryptocurrencies. Of course, are a very big part of the platform these days.

Get it for Android
Size: 56MB
Requirements: Android 5.1 and up

Get it for iOS
Size: 143.6 MB
Requirements: iOS 11.0 or later.

Coinomi

Coinomi has been around for a very long time in crypto years, and it’s actually really popular because it supports literally 1000s of cryptocurrencies. So if you’re into all coins, then Coinomi probably supports it. You can use the app to pay for items in stores with the QR code scanner. There’s also 24/7 customer support. Coinomi is also completely free of charge and uses the wallet.

They do offer an exchange or a brokerage type feature where you can go buy bitcoins. Again, that’s where they make their money, so there are some charges on top, but because of that, they offer you this wallet app for free.

coinomi

You can also earn interest on your holdings in Coinomi, and you can also use staking and they also have a desktop client for Windows, Mac and Linux operating systems as well. So that means you can see your holdings on all your devices.

Coinomi is very focused on not just security but privacy as well. So not only do they not take any KYC information at all. They also hide your IP address when using their systems, which means that you will be virtually untraceable if you’re using Coinomi.

coinomi app

The app interface is fresh and modern, it’s free to use. They have a good exchange feature that does charge a little bit, but it’s very easy to use. They have a QR code scanner for payments in physical stores if you need that. They support all the biggest list of cryptocurrencies in the app which is why many people choose.

Get it for Android
Size: Varies with device
Requirements: Varies with device

Get it for iOS
Size: 125.8 MB
Requirements: iOS 12.0 or later.

Exodus Crypto Wallet

Exodus is definitely worth mentioning on this list. Though, another free, modern, and importantly easy to use platform. This one is really good for beginners, mainly because of the simple layout. The customer support is really good, 24/7, and they are a real person. So if you have any issues, you can have a live chat with a real customer support agent at any time of the day.

There is an exchange service built-in, the fees are quite high and you’re always going to pay for convenience. That’s what you’re doing with Exodus, you may be paying anywhere from about two to 5% depending on what you’re buying, and how much you’re buying. So it’s definitely on the higher end, along with Coinbase.

Exodus Crypto Bitcoin Wallet

Now, if you want a cheaper way of doing it, you’ve got eToro, and you’ve got Binance which are almost commission-free. Binance is one of the lowest, because of the exchange products and not the wallet products. There are no fees to send or receive though, just like the others, you get gas fees.

Something to note is that Exodus supports only about 100 cryptocurrencies. For most people, who just really want to buy bitcoin and nothing else, or maybe Bitcoin and Aetherium and Litecoin, you know that’s going to be enough.

For people who want some more exotic stuff, then Exodus may not support those cryptocurrencies. It may not be worth going for, you may want to choose Coinomi. But for most beginners and most people, 100 plus is certainly enough.

Exodus also links up with a brand called Tresor, which provides hardware wallets. These are basically like a USB stick, you get some security measures with the stick. Now if you have a large holding of any cryptocurrency, experts always suggest that you put that onto a hardware wallet. So that they can’t be hacked.

The best thing about Exodus is this though, you can use the platform and the apps with the treasure hardware wallet. So you can mix and match your holdings, maybe have some online in your online wallet. Then, for the bulk of your holding, you can get a treasure hardware wallet. When it comes to software wallets, it’s really all about security, anonymity and ease of use.

Get it for Android
Size: 39MB
Requirements: Android 8.0 and up

Get it for iOS
Size: 30.8 MB
Requirements: iOS 12.0 or later.

That’s it. All of the ones we’ve mentioned here really do touch all of those bases, so depending on who you are, you may want to choose one or the other.

SEE ALSO:

Best Cryptocurrency Apps for Android & iOS 2021

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