18 Best Web3 Wallets to Use as a Key to the Web3 Ecosystem

As cryptocurrency and NFTs become more commonplace, reliable web3 wallets are quickly becoming necessary. Both casual traders and long-term investors can benefit from having a reliable wallet to store their cryptocurrency and other digital assets. Some wallets even allow you to stake your assets with the click of a button. Others allow you to quickly look at your portfolio, and make fast financial decisions. Whether you’re trying to find the best way to collect GameFi rewards, store your NFT collection or regularly trade crypto, this guide will help you learn about 18 of the best web3 wallets available.

What Are Web3 Wallets?

Web3 wallets are a form of digital storage for non-fungible tokens, cryptocurrencies and other digital assets. Web3 wallets function similarly to a normal crypto wallet, however, they come with the added function of being able to interact with a variety of decentralized applications (DApps). In fact, some web3 wallets are specifically designed to interact with a single blockchain, or to store NFTs.

There are two different types of web3 wallets. Cold wallets are a type of hardware wallet made to store your assets offline. Long-term investors who aren’t trading every day, or who want to keep a large portion of their assets secure, often use cold wallets. Because the wallet is offline most of the time, it’s less susceptible to scams and hackers.

Software wallets are known as hot wallets. They rely on various applications to function. Hot wallets are DApps that are always connected to the internet. You can usually access a hot wallet via an app on your smartphone, or on an internet browser. While this does make your assets slightly more vulnerable to hackers, it’s a practical choice for active traders. Hot wallets are also known for their simple interfaces, making them popular among beginning traders and investors.

The Best 18 Web3 Wallets

When choosing a web3 wallet, you have lots of choices. Carefully consider your storage needs, then select which one has the features you like. It's not uncommon for users to have multiple wallets; just remember that each one has its own private key.

To access them easily, find a safe place where you can write down each key. Many people keep a physical record of their keys and respective balances in a notebook — like keeping a bank ledger. They then store the ledger, or notebook, in a fireproof safe.

Bybit Wallet

A recent addition to the Bybit platform, Bybit Wallet has quickly climbed its way to the top to become one of the best web3 wallets available. The exchange prides itself on its industrial-grade security and convenience. Users simply have to remember their login details when they want to access their Bybit Wallets, which gives them peace of mind. The secure crypto wallet also boasts one-click creation, making it very user-friendly. The Bybit Web3 Portal is where users can find background information on all the DApps compatible with the Bybit Wallet. They can also find guides and tips, which will come in handy as they navigate the web3 ecosystem. 

While the Bybit Wallet is a hot wallet, users can be assured their funds will be kept safe. Plus, if they ever find themselves being hacked, or if they forget their login information, they can always count on Bybit’s 24/7 live customer support for assistance. Sign up for a Bybit account and set up your Bybit Wallet today.

MetaMask

MetaMask is one of the most popular web3 wallets, and is frequently recommended for its ease of use. Unlike a few web3 wallets on this list, MetaMask is available on Google Play, the Apple App Store, Chrome, Firefox, Edge and Brave.

While the wallet’s service focuses on the Ethereum blockchain, it’s incredibly versatile and can easily access other blockchains. Gamers wanting to earn GameFi rewards can use MetaMask as a primary wallet. It’s also open-source with a strong development community behind it, so it has consistently added features and adapted to the needs of users. Although you’ll need to pay the Ethereum gas fee when making transactions, MetaMask is a free-to-use wallet. A note of caution: Beware of phony MetaMask sites, and never input your seed phrase before checking to see that the MetaMask site you’re on is authentic, or scammers can steal all of your funds.

Coinbase Wallet

Coinbase is well-known for its user-friendly online cryptocurrency trading platform. Coinbase Wallet is a crypto wallet that uses web3 technology. The noncustodial wallet is kept separate from the centralized platform, adding an extra layer of security. 

While the crypto wallet is already straightforward, Coinbase takes it a step further by enabling usernames. Rather than sending crypto assets to a long string of numbers and letters, you’ll have a username that matches your crypto wallet address. This helps to reduce human error when sending and receiving crypto assets, especially since blockchain transactions cannot be reversed. While Coinbase doesn’t charge a fee for using their crypto wallet, they do charge a 1% transaction fee.

Ledger Wallets

Ledger makes two hardware wallets — the Nano S Plus and the Nano X. Both are popular choices, since they support over 1,000 tokens. The wallets, which resemble a typical thumb drive, connect using a USB. Ledger also uses one of the most secure certification chips for added security. The Ledger Live app lets you access, buy and exchange your assets. The biggest difference between the Nano S Plus and the Nano X is that the latter is bluetooth compatible with the Ledger Live Mobile, while the former isn’t.

Crypto.com DeFi Wallet

Crypto.com is a fast-growing platform with an international base of over 50 million users. The DeFi wallet allows users to easily trade over 250 crypto assets and more than 20 fiat currencies. Users can also generate rewards for staking their crypto assets, making the platform popular among long-term investors.

The downside of using the Crypto.com DeFi Wallet is the 0.3% transaction fee on top of any blockchain gas fees that apply to the transaction. 

Trust Wallet

As the name suggests, Trust Wallet is a multi-asset mobile wallet built with security in mind. Besides supporting multiple assets and cryptocurrencies, the hot wallet enables users to easily transfer digital assets between blockchains. Trust Wallet also allows users to stake their digital assets to earn rewards and interest. For ease of use, the app clearly displays your crypto assets and NFTs.

The biggest downside of Trust Wallet is that it’s mobile only. Despite this, the mobile wallet is very user-friendly and doesn’t have a high learning curve as other hot web3 wallets do. The Trust Wallet website accurately tells users that they’ll be able to buy BTC within five minutes.

Guarda Wallet

Guarda Wallet is another hot crypto wallet that allows users to stake and exchange several different assets. The platform currently supports over 50 blockchains and more than 400 tokens. The web3 wallet also offers users rewards in its native token, GRD. It’s a great choice for new users because they can learn about different blockchain and DeFi applications on the app.

Argent Wallet

Argent Wallet supports only Ethereum tokens, but that hasn’t stopped it from making people’s lists of top software wallets. Designed to be the perfect introduction to DeFi, Argent offers a user-friendly experience. It easily integrates with several DApps, although the wallet is only accessible on iOS and Android.

To create a new Argent Wallet, you’ll need to pay network fees because each crypto wallet is a smart contract on the Ethereum blockchain. You’ll also pay network fees for transfers, adding a guardian, using WalletConnect, DeFi integrations, in-app token trading and wallet recovery. There are also exchange fees and Ethereum gas fees for exchanging crypto using the wallet.

If you’re looking for a browser-based wallet instead, consider the Argent X Wallet on the StarkNet ecosystem. This browser extension works perfectly for both Google Chrome and Firefox. Do take note, however, that Argent Wallet and Argent X Wallet are two separate projects, which means that you would not be able to recover your Argent X Wallet on the Argent Wallet mobile app, and vice versa.

Opera Crypto Browser

Opera Crypto Browser is a web3 browser that enables users to quickly switch between wallets and tools. For example, social networks such as Discord, Twitter and Telegram can easily be accessed in the sidebar, saving you time while managing your assets. New crypto traders will be pleased with the Opera Crypto Browser features and multi-wallet management, while more experienced traders can benefit from the advanced features available on the server. Simply download, create a new wallet and write down the seed phrase. Then you can customize your web3 browsing experience.

MyEtherWallet

MyEtherWallet, also called MEW, allows users to quickly and seamlessly interact with the Ethereum blockchain. The open-source wallet can be downloaded as a browser extension on both Android and iOS. You can also access MyEtherWallet directly on the web. While convenient for new users, MEW doesn't allow you to directly access your private keys. Instead, it uses multi-layer encryption to store your private keys on your device. However, you can recover your wallet with a seed phrase. Best of all, there are no fees for using the wallet — users pay only gas fees when transferring assets.

Authereum

Authereum puts your favorite DApps at your fingertips without the need for a seed phrase or private key. Instead, you create a simple username and password. Multi-factor authentication adds extra security, so you can feel safe while using this Ethereum-powered smart contract wallet. Like many of the other wallets mentioned on this list, Authereum doesn’t charge a transaction fee.

Rainbow Wallet

Rainbow Wallet is a noncustodial wallet that supports a wide range of DApps on the Ethereum blockchain. This software wallet works with both Android and iOS. It’s designed for users who collect NFTs, enabling them to easily access their collection. The Rainbow platform also allows for easy transactions between several ERC-20 tokens, and it has a limited list of pre-approved tokens that users can swap.

Rainbow Wallet is geared toward new users because it seamlessly integrates onto mobile devices. Users can back up their seed phrases and private keys for quick and easy account recovery. They can also back up their data and seed phrases regularly to improve security. For a mobile wallet, Rainbow’s a smart choice.

Exodus Wallet

Exodus Wallet is a crypto software wallet that enables users to effectively manage and exchange over 245 different cryptocurrencies. The multichain web3 wallet allows users to quickly buy crypto directly within the mobile app. A browser extension also allows for quick access to NFTs, DeFi apps and other digital assets.

As a desktop hot wallet, Exodus is practical and easy to use; however, it has slightly higher fees than other software wallets on this list. The network generates money from third-party exchange API providers and works to process transactions as fast as possible. A lot of the exchange process is automated. You’ll see the transaction and associated network fees prior to completion.

Apex Wallet

Apex Wallet stands apart from other software wallets because of its messaging feature. In-wallet messaging allows you to communicate with other wallet users, making it useful especially when it comes to buying, selling and trading NFTs. You can also see your NFTs in a gallery format on the app, helping you to stay organized. The Ethereum crypto wallet also supports several GameFi and DeFi applications.

Pera Wallet

Pera Wallet, previously known as Algorand Wallet, is a community-driven wallet that connects you with the Algorand blockchain. Then users can securely connect to any DApp within the Algorand ecosystem with their mobile devices. Besides trading cryptocurrency, the wallet allows for easy NFT management and viewing. The app is supported by cold storage wallets like Ledger, giving you an extra layer of security.

One distinguishing feature of Pera Wallet is its focus on green energy. It’s no secret that cryptocurrency has a negative impact on the environment. You might choose Pera Wallet because Algorand is a green blockchain dedicated to energy efficiency.

Zerion

Zerion, a noncustodial web3 wallet, offers several tools to help users manage their crypto assets and NFTs. Users can connect other hot and cold crypto wallets to their portfolio, and manage all their digital assets in one location. However, there’s a 0.5% swap fee for all networks.

A key feature of Zerion is its social aspect. Users can track assets, follow other users’ wallet activities and set up notifications for NFT and crypto drops.

Brave Wallet

While Brave Browser may look like a typical internet browser, it’s an excellent tool for helping users securely buy, sell and trade multiple tokens. Brave Wallet is built directly into the specialized secure browser to enhance security. You won’t need to worry about downloading extra browser extensions to access all the wallet’s features. If you want an extra layer of protection, Brave Wallet also connects to cold storage cryptocurrency wallets such as Trezor and Ledger. Plus, you’ll have quick access to live crypto market data, making the browser a good choice for active traders.

Trezor 

Trezor is known for developing innovative web3 hardware wallets. As one of the first developers of cold crypto wallets, Trezor has always focused on adding new features. The Model T is an advanced hardware wallet that connects to your computer with a USB-C. The tiny device offers an easy-to-use touchscreen with PIN access, making it very quick. The Model T is also compatible with over 1,400 assets and has plenty of storage space, making it ideal for everyday trading and receiving GameFi rewards. 

The Model One, on the other hand, is a much cheaper alternative that is compatible with slightly below 1,300 assets. While it doesn’t have a touchscreen with PIN access, it offers a two-button pad that still allows you to access your wallet relatively quickly.

Pros of Web3 Wallets

With all that said, whether you choose a hot or cold storage method, you should consider the following reasons to use web3 wallets.

Security

Web3 wallets are designed to keep your assets as safe as possible. All web3 wallets are accessed using private keys or a seed phrase, which the user should keep somewhere safe offline. After being issued a new web3 wallet and a private key, no one else can access it without the key, not even the wallet’s developers.

If you have a cold wallet, the software service you use may have an additional layer of security to protect it from hackers and scammers. Hardware wallets are much harder to access because they have their own built-in security.

User-Friendliness

Both hot and cold web3 wallets are designed with the end user in mind. The best wallets can be set up in a few minutes, and have an easy-to-understand interface. Most wallet hardware or software companies include basic instructions on how to get started. After your new wallet is properly set up, you can deposit funds, or send and receive digital assets right away.

Ease of use is also critical when it comes to the future of DApps. For web3 wallets to become more mainstream, users need to be able to access all the features of their wallets with little or no technical knowledge. They also need to be able to set up their wallets and simply connect to their favorite game, purchase NFTs or store their cryptocurrency. To that end, users are able to receive GameFi rewards, trade assets or store NFTs. That’s why the most popular web3 wallets focus on ease of use and offer excellent support.

Privacy

Anonymity is a crucial part of decentralized finance (DeFi). Part of the appeal of trading cryptocurrency or other digital assets is that your identity is protected. Your web3 wallets aren't tied to any personal information; all wallet addresses are just long strings of numbers and letters. The goal isn’t to help users hide their purchases: It’s to help decrease fraud on any transaction requiring authentication.

Control

Unlike other financial applications, users are in complete control over their web3 wallets. There’s no authority or government overseeing every transaction, so you can send or receive assets without limitations.

Each web3 wallet has its own benefits, so you’ll need to choose one that best suits your needs. Explore the list below of the best 18 web3 wallets to learn more about the features of each one.

Should You Use a Web3 Wallet?

While it can be tempting to leave your assets on crypto exchanges, having a wallet provides you with an extra layer of security and more control.

The wallet you choose should reflect your technical skill level. New traders may feel more comfortable with a wallet that easily integrates with a platform they’re already familiar with, such as Bybit Wallet, Coinbase Wallet or Crypto.com. If you have a large amount of long-term holdings, it may be wise to invest in a hardware wallet such as Trezor or Ledger.

Although there are dozens of reasons for getting a hot or cold wallet, it’s important to understand the potential downsides of using one. Anonymity and privacy are key with DApps, so you’re responsible for all activities that take place on your wallet. Some platforms offer support, but they might not be able to help you if you lose your private keys, or send a large amount of money to the wrong address.

Depending on which wallet you choose, there may be a learning curve. Some wallets give users access to dozens of features, but if you don’t understand how they work, there’s no point in getting them. To set up your new wallet properly and take advantage of all its beneficial features, you may need to spend some time studying tutorials or watching online help videos.

Final Thoughts

Whether you need to set up a secure wallet to collect GameFi rewards, or you’re an active crypto trader, it would behoove you to review multiple wallets before deciding on which one to use. With plenty of secure options for hot and cold digital asset storage, there’s a wallet tailored to fit everyone’s needs. Be sure to compare fees, ease of use, security and extra features to determine what will benefit you most. You can always change your mind, or experiment with multiple wallets to find one that best suits your style and storage needs.