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Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    Top 8 Best Crypto Wallet UK

    Ledger Wallet Logo
    4.5/5

    Best Over-All

    Promo Code N/A

    T&Cs apply

    Trezor Wallet Logo
    4.5/5

    Best For Advance Trader

    Promo Code N/A

    T&Cs apply

    Trust Wallet Logo
    4/5

    Best for Mobile Version

    Promo Code N/A

    T&Cs apply

    Coinbase Wallet Logo
    4/5

    Best For Beginners

    Promo Code N/A

    T&Cs apply

    Exodus Wallet Logo
    3.5/5

    Best for Desktop Platform

    Promo Code N/A

    T&Cs apply

    Coincorner Wallet Logo
    3.5/5

    Best For Bitcoin

    Promo Code N/A

    T&Cs apply

    eToro Wallet Logo
    3.5/5

    Best For Convenience

    Promo Code N/A

    T&Cs apply

    Coinjar Wallet Logo
    3/5

    Best For All-in-One Features

    Promo Code N/A

    T&Cs apply

    Cryptocurrency wallets are vital because of their inbuilt storage capacity and security measures. Most crypto wallets in the UK enable investors to store and receive crypto assets securely. Some of these wallets also offer customers diverse investment options and the opportunity to earn passively by staking. With countless options available, selecting the best type of wallet is essential in a trader’s investment journey.

    In this comparison guide, we rank available wallets and provide an in-depth review of the best crypto wallet UK for investors based on their trading needs.

    Our Picks in Short

    Investors can find the overall best crypto wallet UK for 2023 in the list below:

    1. Ledger – Overall Best Crypto Wallet UK 2023 
    2. Trezor – Advanced Crypto Wallet for Advanced Traders
    3. Trust Wallet – Top Choice for Mobile Crypto Wallets
    4. Coinbase Wallet – Intuitive Crypto Wallet for Newbies 
    5. Exodus Wallet – Premium Crypto Wallet for Mobile and Desktop
    6. CoinCorner Wallet – Crypto Wallet designed for Bitcoin Traders
    7. eToro – Secure and Convenient Wallet for Crypto Trading
    8. Coinjar – All-in-one Crypto Wallet

    There are numerous crypto wallets in the UK. However, before picking our preferred choice, we considered costs, user interface, supported crypto assets, core features, wallet type, fees, the convenience of sending and receiving funds, and integrated security protocols.

    Keep reading to find our best crypto wallet UK detailed review.

    1. Ledger - Overall Best Crypto Wallet UK

    Ledger Wallet Home page

    Ledger wallet is a popular hardware wallet created by Ledger, a famous blockchain solution company headquartered in Paris, France.

    The company, which made its debut in 2014, operates in the US and UK. Their innovative hardware wallets come in two versions: the Ledger Nano X and the Ledger Nano S. Both wallets enable users to store their crypto assets offline in cold storage.

    The Ledger S and X are the best crypto wallet in the UK due to their wide range of integrated functionalities. The hardware wallets support over 5,500+ cryptocurrencies, easy access to exchanges, and smooth compatibility with decentralized finance (DeFi) applications. UK traders can check their transactions in real-time and manage all digital assets via Ledger’s Live Mobile app.

    Although the Ledger Nano S and X are similar, they differ in features and compatibility. Investors using Nano S can only access Ledger Live via Android 7+ devices or a desktop app (Windows, Mac desktop, or Linux). In contrast, the Nano X is compatible with desktops, iOS, and Android devices.

    The Nano X has Bluetooth to aid easy connectivity to the user’s mobile smartphone, while a USB-C to USB-A cable is provided as an alternative. In contrast, Nano S users will need a set of 3 USB cables, often referred to as an on-the-go (OTG) kit, to connect their smartphone or desktop.

    Once the connection is set up, users can easily buy, sell, stake supported crypto assets, and efficiently manage other digital assets, like NFTs, on Ledger.

    The Ledger Nano S and X cold wallets feature durable batteries capable of lasting several hours of continuous use without recharging. However, the batteries are irreplaceable; users must purchase a new device if the battery becomes faulty.

    Although none of the crypto hardware wallets comes with a touchscreen, the Nano X display screen is more extensive, enabling users to read easily.

    Ledger hardware wallets exceed industry-standard security protocols, making them one of the most purchased crypto wallets in the UK. These wallets use certified Secure Element (SE) chips, often regarded as hardened microcontrollers. Ledger stores private keys on the SE chips as an additional layer of security. These hardware wallet devices use a modified proprietary operating system called Blockchain Open Ledger Operating System (BOLOS) to reduce cyber risks from connected crypto exchanges.

    Ledger hardware wallets are the only devices using Secure Element chips and BOLOS frameworks to secure investors’ funds and assets. Other personal security measures include 24-word recovery phrases, pin setup, and push device buttons for crypto purchases.

    The costs of the Ledger devices are high. Investors can purchase Nano S for £69. Investors keen on more features and compatibility can opt for the Nano X, priced at £139. Traders can buy both devices on the official Ledger’s website, Amazon, and other accredited stores. 

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    2. Trezor - Advanced Crypto Wallet for Advanced Traders

    Trezor Wallet Home page

    Trezor, a crypto hardware wallet brand, is a close competitor to the previously discussed Ledger; it is one of the best crypto wallets UK for storing large amounts of tokens. 

    The premium cold wallet was created in 2014 and is headquartered in Prague, Czech Republic. Trezor offers unmatched advanced features and security for cryptocurrency management, helping users worldwide to store their favorite crypto assets seamlessly. 

    Like Ledger, Trezor offers two types of hardware wallets: the Trezor One and Trezor Model T, to over 150 countries, including the UK and the US. Trezor cold wallets provide stellar benefits, but their key distinguishing features are their portability, user-friendly interface, the wide array of supported cryptos, zero-fee charges, touch screen, and large display. 

    The Trezor One and Model T are lightweight and easily fit into users’ palms. Due to their small-size construction, they are not exceptionally durable. Nonetheless, their size ensures mobility at all times. Trezor One is 60mm x 30mm x 6mm in size and weighs 12 grams. The Model T has a bigger scope of 64 mm x 39 mm x 10 mm and an increased weight of 22 grams. 

    Trezor integrates a user-friendly interface, enabling investors to manage over 1,800 supported cryptos, including famous cryptos like Bitcoin, Ethereum, Cardano and XRP. Users can access their assets via the cold storage wallet display screen. 

    Even better, both wallets integrate touchscreen technology, which is impressive considering their portable form. The Trezor One has an OLED display of 128×64 pixels. Meanwhile, the Model T uses LCD and is slightly larger at 240×240 pixels

    Despite its tiny dimension structure, the buttons on the Model T display appear to fit a finger. When connected, the Trezor One displays little text that could be unreadable. In contrast, the Model T offers more extensive text

    Investors only have to download the Trezor Suite and install it to get started. The Suite acts as a guide through the onboarding process; it is fast and intuitive, even for newbies. Once setup is completed, users will enjoy smooth crypto management. 

    However, the withdrawal of large assets may be slow. This is because the hardware wallet requires more time to load transaction history and large transactions, which might influence the time it takes to complete a transaction. The larger the withdrawal amount, the more time it will take to sign a transaction

    Nonetheless, Trezor offers users great advanced features such as Tor routing and top-notch security. All communications can be routed seamlessly with the Tor network. Investors can opt to increase the anonymity of their transactions through the Tor network. This feature requires other wallets to configure their server, but with Trezor, only a toggle switch in the Trezor Suite is needed

    Aside from enabling Tor network routing, investors may also easily set up unique IP addresses and port numbers. Another notable feature that enriches Trezor’s reputation is its security; the non-custodial hardware wallets provide traders with extensive security measures to protect their funds and assets

    All crypto assets held within the Trezor wallet are stored offline via cold storage. Investors can only transfer tokens from the wallet by physically inputting a PIN on their Trezor device. 

    A timer lock will be activated if there are too many wrong PIN attempts. If the Trezor One or Model T hardware wallets are stolen, investors can gain access remotely by entering their private keys. Trezor utilizes other security measures to increase resilience, including solid cryptography like the BIP-39 passphrase and SLIP-39 Shamir.

    The cost of the Trezor hardware wallets may not be suitable for casual crypto investors, though hardware wallets are the safest solution for all kinds of investors. The Trezor One hardware wallet is £50.58, while the Model T is priced at £160.5. We recommend traders make purchases directly on Trezor’s website.

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    3. Trust Wallet - Top Choice for Mobile Crypto Wallets

    Trust Wallet Home page

    Unlike Ledger and Trezor, Trust Wallet is a non-custodial software wallet that offers an array of perks in a single platform. As a result, users maintain control of their private keys and assets, including cryptocurrencies and NFTs. However, they must keep their private keys (also referred to as recovery phrases) safe and in the correct order for backup purposes.

    Trust Wallet was founded in November 2017 by Viktor Radchenko and is headquartered in California. Eight months after the software wallet’s official debut, Binance acquired the wallet to offer better storage services to its users globally

    Users can securely send, receive, store, and digitally exchange assets, including cryptocurrencies and non-fungible tokens (NFTs).  

    Trust Wallet does not take the form of a physical device due to its in-built software system; instead, it is an application that can be downloaded and installed online. Trust Wallet also supports 65+ blockchain networks, mobile operating systems, including iOS and Android, and browser extensions for desktops. 

    One distinguishing factor that gives Trust Wallet the edge over competitors is its easy setup and wide range of crypto offerings. This software wallet allows UK traders to purchase Bitcoin, Ethereum, and over 4.5m+ digital assets on the go using GBP or EUR

    With a non-custodial Bitcoin wallet like Trust Wallet, investors are in charge of their private keys, which gives them control over all their digital assets. For traders to get started, they must first download Trust Wallet from their device’s app store and create or import an old wallet using the 12-word seed phrase

    Trust Wallet has grown to become one of the best crypto wallets in the UK due to its diverse range of core features that appeal to both beginner and advanced traders. 

    Apart from its rich asset integration, users can collect NFTs and explore decentralised applications (dApps) on the Ethereum network. These can all be completed directly from Trust Wallet’s versatile mobile and desktop wallet applications. Investors may also add custom tokens to their wallets and manage them in real-time

    The online hot wallet launched a browser extension on November 14, 2022, to offer more accessibility and a seamless Web3 experience to investors, enthusiasts, and developers. This extension supports popular blockchains like Ethereum, Solana, and other cryptos deployed on the Ethereum network, like Polygon, Avalanche, and BNB

    Since the hot wallet platform supports diverse blockchain networks, users are eligible to stake 12 crypto assets, including Cosmos (ATOM), Tezoz (TRX), Tron (TRX), VeChain (VET), and Binance Coin (BNB). 

    One key feature that makes Trust wallet world-revered is its decentralized app browser. The dApp browser allows traders to access NFT marketplaces like OpenSea to explore and exchange NFTs. UK traders can also use this browser to interact with dApps like Compound, Aave, and Uniswap.

    Android users can connect to dApps directly from the software wallet app, while iOS devices (MacBook, Mac Desktop, iPad, and iPhone) no longer support the dApp browser. The wallet made an official announcement on May 21, 2020, stating that the removal of the dApp functionality was to comply with Apple’s App Store rules

    Although the safety of the digital wallet depends on users, extra layers of security are enabled on the hot wallet platform, including Face ID, Touch ID, a passcode, two-factor authentication (2FA), and auto-lock restriction.

    Unlike hardware wallets, Trust Wallet is free but comes with the risks of a hot wallet. There is no pricing structure; investors are not required to pay any subscription fee. Additionally, in-app transactions and token exchanges are fee-free.

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    4. Coinbase Wallet - Top Choice Crypto Wallet for Newbies

    Coinbase Wallet Home page

    Another notable mention is Coinbase, one of the most popular and extensive online exchanges offering UK residents an innovative non-custodial wallet. Coinbase was founded in 2012 and started with its headquarters in San Francisco, California. The crypto exchange has since gone global in line with its plans for a decentralised company structure.

    To align with its vision of being a pioneer for economic freedom in the world, Coinbase officially launched its mobile hot wallet in 2018. The wallet allows users to take sole responsibility for their crypto assets

    Coinbase wallet non-custodial setup is essential in reaching economic freedom as it prevents users’ funds from being mismanaged, like the FTX bankruptcy case currently on trial

    The hot wallet integrates a simple interface that enables crypto beginners to navigate easily. Investors have access to Bitcoin, Ethereum, other cryptocurrencies, and decentralised applications (dApps). Coinbase wallet users can also manage their Ethereum and Polygon-based non-fungible tokens (NFTs).

    The online wallet supports the storage of over 100,000+ digital assets, including digital collectibles and tokens, and even allows users to access initial coin offerings

    Coinbase wallet features seamless accessibility and usability for its users. The intuitive wallet is available online to UK investors via desktop and mobile (iOS and Android) through their respective app stores. The desktop version of the wallet caters to traders’ basic functionalities, like trading, swapping, NFT management, and DeFi

    However, the wallet doesn’t open in full screen, so it might be challenging to navigate between sections. 

    In contrast, the mobile version is relatively easy to navigate. Traders may also experience higher swiftness compared to the desktop version

    Once downloaded, users should follow instructions to set up their wallet in about 8 minutes. The cryptocurrency wallet integrates a high level of privacy and anonymity to protect users’ information when signing up. Personal information, such as phone numbers and email addresses, is not required to use the Coinbase Wallet

    Traders are only required to create a username and profile; they can also decide if they want their username to be searchable. After a successful setup, traders may swap Ethereum and Polygon assets via the wallet’s decentralised exchange feature; this may incur high transaction fees

    Another essential feature of the Coinbase hot wallet is its support for staking. Traders may stake their idle cryptos and earn annual percentage yields (APYs) up to 5.75%

    When met with any hassle, UK investors can always navigate to the wallet help page, which provides in-depth solutions to an extensive range of common problems experienced by past crypto traders. UK traders can leverage other customer support options like email, Live Chat integration, and active phone numbers

    Coinbase Wallet, as a non-custodial software wallet, leaves the control and management of assets in the hands of investors. Nonetheless, Coinbase integrates biometrics and passcodes when setting up a trader’s mobile wallet to keep its storage platform more secure. Investors must create a password on the desktop version to restrict unauthorised access.

    Just like Trust Wallet, Coinbase’s non-custodial software wallet is free. Deposits and withdrawals are not free. Trading and exchanging assets incur additional costs. Users may incur a spread fee for every processed buy/sell order.

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    5. Exodus Wallet - Premium Crypto Wallet for Mobile and Desktop

    Exodus Wallet Home page

    Exodus wallet is another appealing option for investors keen on simplified crypto storage and management. It is a non-custodial software wallet that offers over 290 crypto assets. The Exodus wallet supports mobile (iOS and Android) and desktop (Windows and Mac). Users can also use this premium wallet to track real-time crypto prices. 

    One of the factors that makes Exodus unique is its compatibility with Trezor hardware wallets. Investors that do not want to store their assets online can connect Trezor One or Trezor Model T hardware wallets to store their cryptocurrencies offline via cold storage

    Exodus features an aesthetically pleasing interface that appeals to beginners finding their feet in the crypto market. The software wallet has simple layout sections; users can easily access, store, and manage hundreds of cryptocurrencies from within the wallet. 

    Investors enjoy smooth connectivity with diverse, decentralized applications and a curated marketplace for all NFT collections via its web browser extension. Exodus supports significant blockchain networks like Bitcoin, Ethereum, Algorand, and BSC

    Another prominent feature of Exodus is its passive earning option available to users, including UK investors. UK-based investors can stake supported assets like Solana (SOL), Algorand (ALGO), Cosmos (ATOM), VeThor (VTHO), VeChain (VeChain), Tezos (XTZ), Ontology (ONT), and Ontology Gas (ONG) to earn annual percentage yields (APYs). Each asset has a different APY.

    Exodus allows users to control their passive income, as they can seamlessly track their staking progress within the wallet. Investors not keen on staking may become liquidity providers (LP) by leveraging Compound Finance—a decentralized finance (DeFi) protocol on the wallet platform. Liquidity providers lend their idle Ethereum assets to a liquid pool and earn interest when there’s a backpack on loans. 

    UK investors must download the Exodus Wallet application on their preferred devices (Desktop or Mobile) to get started. The software wallet does not integrate the Know Your Customer (KYC) requirements adopted by most cryptocurrency exchanges. Therefore, traders don’t need to submit personal information while signing up. Also, all transactions on the Exodus Wallet are anonymous

    The premium hot wallet supports connecting devices via QR codes to aid uninterrupted accessibility and usability. Investors can switch between their desktop and mobile platforms and maintain saved data. 

    Apart from its wide range of core features and functionalities, the user-friendly online wallet offers customer support in the form of comprehensive content on crypto assets. There is also a searchable FAQs section available for common queries

    Users requiring more assistance can contact Exodus support personnel through email or dedicated social media channels for quick response. 

    Regarding security, the reputable non-custodial mobile wallet incorporates a 12-word recovery phrase that UK traders can use alongside a solid password to control their assets securely

    Although Exodus does not integrate 2FA, other top security measures like Face ID and Biometric touch (Touch ID) are used. Also, continuous security upgrades are completed every two weeks to avert cyber exploits. 

    The security protocols of the Exodus wallet and Trezor give UK traders safety and peace of mind while managing their crypto assets.

    Exodus wallet is completely free. However, a small fee is incurred whenever an exchange is made within the wallet. The mobile software wallet does not charge additional fees for sending and receiving digital assets, except blockchain network fees.

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    6. Coincorner Wallet - Crypto Wallet Designed for Bitcoin Traders

    Coincorner Wallet Home page

    CoinCorner is great for UK crypto investors looking to purchase and store Bitcoin with little knowledge of the workings and operations of wallets and exchanges. The CoinCorner wallet was created with beginners in mind.

    CoinCorner is a cryptocurrency exchange based in Douglas, Isle of Man. Since launching in 2014, the exchange has grown to accommodate more than 45 nations and over 200,000 members worldwide.

    CoinCorner offers integrated wallet services and a way to buy, sell, send, receive, and store Bitcoin and other cryptocurrencies. Crypto novices will find it easy to get the hang of the CoinCorner wallet. This is because it has a simple and well-designed interface that even those with less technological expertise won’t find difficult. The user interface is clean, simple, and incredibly user-friendly. Navigation is also straightforward because of the menu directory.

    However, the wallet supports only three cryptocurrencies—Bitcoin, Ethereum, and Litecoin—and two fiat currencies—EUR and GBP—. CoinCorner users can use their accounts to buy and sell Ethereum and Litecoin, but they cannot send or receive these digital currencies. They can, however, store Ethereum and Litecoin in their CoinCorner wallet.

    Users can keep their Bitcoin in their CoinCorner wallet or move it to other wallets. Additionally, customers can sell Bitcoin and withdraw funds to their bank account or transfer Bitcoin to anyone in the world for a fee.

    Investors can choose from various payment options at CoinCorner, including Money transfer (GBP), SEPA (EUR), credit card or debit cards, and Bitcoin. Most popular bank cards are accepted for deposits at CoinCorner. Deposits, a minimum of 10 GBP or EUR, can be made. However, there is a 2.5% fee for card users.

    To access the wallet, users only need to register an account. After verifying their account, they are to fund it using the supported payment methods. Once the deposit reflects, they can navigate to the buy/sell page to purchase their Bitcoin. The Bitcoin can then be stored in the wallet provided by the platform.

    The wallet is available on the desktop site and iOS and Android mobile apps for crypto investors looking to monitor their portfolio where they are.

    Apart from the integrated wallet, CoinCorner users can enjoy other perks, like an Autobuy feature that lets them buy Bitcoin automatically through a standing order. Customers can earn up to 40% Bitcoin cashback when they shop with over 1,000 CoinCorner online partners.

    CoinCorner complies with know-your-customer (KYC) and anti-money laundering (AML) requirements. Other security measures include 2FA) and multi-signature cold storage.

    The platform also has a designated business status with the Isle of Man Financial Services Authority (IOMFSA).

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    7. eToro-Secure and Convenient Wallet for Crypto Trading

    eToro Wallet Home page

    eToro is one of the top brokers, offering various trading options, including forex, commodities, stocks, ETFs, indices, and crypto. The exchange also offers one of the best crypto wallets UK for investors seeking a safe and practical way to purchase, sell, and store cryptocurrencies.

    eToro debuted in 2007 as a multi-asset broker focusing on exchange-traded funds and stock markets. The platform is easy to use and caters to crypto novices and advanced traders. Investors can start their crypto investment journey with a $10 minimum on the platform. The platform also charges zero commissions.

    eToro supports about 92 different cryptocurrencies, including Bitcoin, and customers can acquire them using various payment methods, such as bank transfers and credit or debit cards.

    The exchange offers users several features to make their investment journey easier. Thanks to social trading platforms like CopyPortfolios and CopyTrader, investors can replicate the moves of other top traders.

    eToro provides a free digital wallet to store cryptocurrency, known as the eToro Money wallet. The eToro Money crypto wallet, owned by eToroX, is a user-friendly, multi-crypto, secure digital wallet. The wallet is available for download on iOS and Android mobile apps for those who want to monitor their portfolios wherever they are.

    The wallet supports the safekeeping of multiple currencies, including Bitcoin, Ethereum, Litecoin, XRP, and an extensive collection of ERC-20 coins.

    Since the eToro wallet syncs with the user’s account, setting up an account with eToro is necessary to access the wallet. A built-in exchange function in the wallet enables users to exchange their coins for other supported cryptocurrencies at eToro. The private key function also enables the recovery of eToro wallets.

    Most crypto assets include free wallet creation options for customers. Transactions are the only thing that traders need to pay for. Among the wallets are an XRP wallet, an ETH wallet, and an XLM wallet, which requires a deposit of 2.5 XLM to activate the account.

    The eToro wallet can be downloaded and set up for free, but there are fees involved that users should be aware of. No fees are applied while sending or receiving cryptocurrency with eToro. Nonetheless, clients may have to pay a fee depending on the blockchain where the transaction occurs. For crypto-to-crypto conversion, a fee of 0.1% of the transaction value is charged.

    Due to security reasons, clients are only permitted to convert a certain amount each day or month. A client can send a total of $50,000 worth of cryptocurrency in a single transaction. The maximum value of coins traders can send in a single day is $200,000. The eToro wallet offers a minimum sending limit of $20 and a maximum limit of $10,000 for Ethereum tokens.

    eToro Money Wallet is one of the safest cryptocurrency wallets accessible. It has several high-level security measures in place to protect against unauthorised access, such as DDoS defence and standardisation protocols.

    Other security measures include biometric data and two-factor authentication. Additionally, the wallet is offered by eToroX, a Gibraltar-based subsidiary of eToro that is authorised by the Gibraltar Financial Services Commission and solely accessible to institutional clients.

    Above all, the eToro wallet has received various licences from respectable regulatory bodies worldwide, including Cyprus Securities and Exchange Commission (CySEC), the Australian Securities & Investments Commission (ASIC), and the Financial Conduct Authority (FCA).

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    8. CoinJar- All-in-One crypto Wallet

    Coinjar Wallet Home page

    CoinJar’s all-in-one wallet concludes our list of the best Bitcoin wallet UK. CoinJar is an Australian-based crypto platform well-known among crypto traders in the UK, Australia, and other nations.

    The crypto exchange, established in 2013, serves as a trading platform for those interested in buying, selling, and holding cryptocurrencies. CoinJar is trusted by over 600,000 people and has transacted over $1.5 billion worth of cryptocurrencies. Some of the most progressive investors in the world, including Digital Currency Group, Boost VC, and BlackBird Ventures, support the exchange.

    CoinJar provides several features for its customers, including a CoinJar card, OTC, and a digital wallet.

    The CoinJar all-in-one crypto wallet is a secure digital wallet that is simple and well-designed. It provides a user-friendly platform with enterprise-grade security features for holding digital assets.

    The CoinJar wallet is available for download on iOS and Android devices so that customers can trade and monitor their portfolios on the go. The wallet, designed to be an all-in-one tool, enables users to store their crypto coins and make transfers seamlessly.

    In general, newbies can greatly benefit from CoinJar’s wallet service. Even seasoned traders stand to benefit greatly. Fiat cash (GBP) can be easily converted into digital assets by traders. The prepaid debit card is the cherry on top. Users can pay for services by just swiping their cards.

    The CoinJar wallet supports over 50 cryptocurrencies, including popular coins like Bitcoin and Ethereum. Investors that want to diversify their portfolios can also trade other altcoins like Cardano, Dogecoin, and Solana.

    Users can start their crypto investment with a minimum deposit of £10. Investors can instantly buy digital assets using any supported payment methods, including crypto, Visa or Mastercard, and other third-party apps like Apple Pay and Google Pay.

    The CoinJar wallet does not charge fees for fiat deposits and withdrawals. It also does not charge fees for internal crypto transfers. However, depending on the network, fees apply for external wallet transfers. Crypto conversion fees apply at 1%, while deposits using Visa/Master Mastercard or Google/Apple Pay are charged at 2%.

    To use the CoinJar wallet, users only need to download the app and create an account. Once their account is verified, they can transfer their preferred crypto asset to the wallet and start trading.

    On its website, CoinJar claims to use institutional-grade organisation security, regular security assessments, and multi-level data encryption to protect consumer accounts. Their internal support team uses cutting-edge machine learning to identify unauthorized account access, financial fraud, and suspicious logins.

    The crypto exchange preserves full currency reserves at all times, with enough assets to cover more than 100% of its customers’ balances. Customers’ assets are protected by BitGo and Fireblocks, and CoinJar stores the vast majority of the assets in cold storage or private multi-sig wallets. CoinJar is accredited by AUSTRAC and the UK’s Financial Conduct Authority (for AML purposes).

    The exchange also offers a bug bounty program where customers that discover vulnerabilities in the platform’s background code are rewarded with Bitcoins.

    CoinJar wallet is free to download and use.

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    Wallets Comparison Table

    WALLETSUPPORTED ASSETSSECURITYCOSTMOBILE APP?
    Ledger5,500+Secure Element (SE) chips, 24 words recovery phrase, PIN£69 to £139Yes
    Trezor1,800+Cold storage, PIN£50.58 to £160.5Android Only
    Trust Wallet4.5 million+Auto lock, Face ID, Touch IDFreeYes
    Coinbase Wallet10,000+Passcode, 2FAFreeYes
    Exodus Wallet291+Face ID, Touch IDFreeYes
    CoinCorner Wallet32FA, Multi-signature cold storageFreeYes
    eToro Wallet93Private key recovery, DDoS defence, 2FA, BiometricsFreeYes
    CoinJar Wallet50+Multi-level data encryption, Cold storage, 2FAFreeYes

    What is a Crypto Wallet?

    Crypto Wallet

    A crypto wallet is an application or device that functions as a means of storage for cryptocurrency or digital assets in general. It is called a wallet because it is similar to a traditional wallet in which individuals store cash and credit cards. However, crypto wallets don’t contain these things; instead, they save the passkeys customers use to sign in for their cryptocurrency transactions and offer the interface they need to access their crypto assets.

    Apart from its main function of key storage, a cryptocurrency wallet also anonymise the wallet’s owner. Crypto wallets come in various formats: mobile applications that make buying and holding digital currencies as simple as using a credit card online and hardware crypto wallets, like Ledger, D’Cent, Trezor, etc. which resembles a USB stick.

    How Do Crypto Wallets Work

    A crypto wallet stores users’ private and public keys. Crypto wallets technically don’t store users’ crypto, unlike a typical wallet, which can hold real cash. Rather, investors’ holdings are stored on the blockchain, but access to them requires a private key.

    Private keys keep the wallet safe, enable transactions, and serve as proof of ownership for users’ digital currencies. Individuals can’t access their assets if they misplace their private keys. This also means anyone accessing a customer’s private key can create digital signatures and spend their cryptocurrencies.

    The public key is a string of numbers and letters in each digital wallet. It is an address that will emerge within the blockchain as users’ transactions take place—there are no visible records of who conducted what transaction with whom, only the number of a wallet. A public key works like a bank account, which investors can send to others to transfer digital assets to them.

    A public key, also known as wallet address, could be compared to a user’s bank account, which a user can send to anyone to receive funds. On the other hand, private keys function like email passwords—only the owner can access them.

    Using these applications, sending and receiving cryptocurrency is incredibly simple. Several options are available for sending and receiving cryptocurrency from users’ wallets. The standard procedure is to enter the receiver’s wallet address, select an amount to transfer, sign the transaction using the private key, add funds to cover the transaction fee, and transfer the digital asset.

    Types of Crypto Wallets

    Crypto wallets fall into two categories: custodial and non-custodial wallets. A third party maintains custodial wallets, and they help keep users’ private keys. Non-custodial wallets are those in which users secure their keys themselves.

    However, there are three subcategories of wallets: software, hardware, and paper. Each wallet is considered either a cold or hot wallet.

    Software Wallet

    Software wallets are similar to an app downloaded and set up on a desktop wallet on a user’s PC or mobile device. These wallets make sending and receiving money straightforward because they are always online and reachable with a single click. They are also known as hot wallets.

    However, because they are online, they are more vulnerable to hackers and viruses than hardware wallets. But software wallets are generally free to use.

    Hardware Wallet

    Hardware wallets are typically referred to as cold or offline wallets because they don’t have an active connection until they are plugged in. Modern hardware wallets have many functions, and these devices resemble USB drives.

    Users can perform crypto transactions on their computers or other devices by connecting the hardware wallet. Most crypto hardware wallets can instantly sign crypto transactions without requiring users to enter their key, preventing hackers from recording keystrokes or screen captures.

    Hardware wallets are generally more secure as they don’t require a constant internet connection to operate properly. This makes them less susceptible to hacks than their software counterparts.

    Paper Wallet

    Early cryptocurrency users created paper wallets by writing or typing their keys on paper. The keys and QR codes were added afterward so mobile wallets could scan them. The main perk of a paper wallet is that the keys are kept offline, making it completely immune to hacking. However, many crypto users no longer use them since they are easily damaged or misplaced.

    How to Use Your Wallet

    Although there are many other kinds of Bitcoin wallets, users’ preferences will depend on what they intend to do with their digital assets and the level of security they require. Highlighted below are the methods for using different crypto wallets.

    Custodial wallet

    A custodial wallet is the most well-known and easiest-to-set-up crypto wallet. Customers’ cryptocurrencies are immediately stored in a custodial wallet when they purchase them through an app like Coinbase. The biggest advantage of storing crypto in a custodial wallet is that users won’t lose their assets if they forget their passwords.

    However, one major downside to these types of wallets is, that users don’t hold their own crypto or private keys to their assets and therefore have to trust a third party. This concept also goes against the entire idea of crypto, where you can be your own custodian without a middleman that may not always act in your favour.

    To set up a custodial wallet:

    • Choose an exchange: Users should pick an exchange they can trust. Security, usability, and compliance with governmental and financial rules ought to be the top priorities.
    • Set up an account: Users should enter their personal information and pick a strong password. Utilising 2-step verification, also known as two-factor authentication (2FA), adds a degree of protection and is advised.
    • Buy or trade cryptocurrency: Users may buy cryptocurrency with a bank account or credit card after creating an account. They can move it to their newly hosted wallet for security if they already have cryptocurrency.

    Non-Custodial wallet

    Users have total control over their cryptocurrency by using a self-custody wallet like Coinbase Wallet.

    To set up a non-custodial wallet:

    • Install a wallet app: Coinbase Wallet is one of the popular choices users can download.
    • Set up an account: A non-custodial wallet can be created without divulging any personal information, unlike a hosted wallet. 
    • Make sure to record the private key: It typically appears as a 12-word sentence chosen at random. Users won’t be able to access their cryptocurrency if they misplace or forget this 12-word phrase. Keep it in a safe place.
    • Add cryptocurrency to your wallet: A non-custodial wallet may not always allow users to buy cryptocurrencies using traditional currencies like US dollars or Euros. Therefore, they’ll need to move cryptocurrencies into their non-custodial wallet from another location.

    Hardware wallet

    A hardware wallet is a physical device with private keys kept offline. While they are usually secure, they are quite expensive, with prices up to $100.

    To set up a hardware wallet:

    • Buy the device: The two most recognisable brands are Trezor and Ledger.
    • Install the application: Users need specific software from each brand to configure their wallets. Download the software from the official company website and follow the on-screen directions to create a wallet.
    • Add cryptocurrency to your wallet: Similar to a non-custodial wallet, a hardware wallet often prevents users from purchasing cryptocurrency using fiat money, thus users must transfer cryptocurrency to their wallet instead.

    How to Choose the Right Wallet? 

    As we discussed, there are a huge variety of cryptocurrency wallets available. So it can be daunting to try to decide which is best. However, users might be able to quickly focus their search by looking at some of the important information listed below.

    Security

    If users’ cell phones are stolen, it’s critical that the wallet app has a first line of defence. Every time users wish to use their wallet, it should, by default, need to be unlocked.

    Although appropriate, unlocking by PIN can be annoying if the wallet is frequently used. As a result, some security features like facial or fingerprint recognition are integrated into some Bitcoin wallets to facilitate access while upholding the highest level of security.

    Wallet and User's Crypto Compatibility

    Every cryptocurrency only lives on a specific network; in most cases, it cannot be kept in a wallet from another network. For instance, a Cardano token like Sundae cannot be kept in an Ethereum wallet. Therefore, compatibility with users’ existing coin collection should be a top priority when choosing a wallet.

    Reputation

    One of the most crucial considerations is the wallet provider’s reputation. This is because it is feasible for a wallet to have built-in security weaknesses—intentionally or unintentionally—that could put users’ crypto assets in danger. Therefore, users should research wallet providers.

    Control of Crypto Assets

    Users should confirm that they have access to their wallet private keys. This is because they cannot control their crypto coins without their private keys.

    The private keys for Bitcoin addresses are 12 or 24-word passphrases created at random, and each crypto address has a unique private key (passphrase). The private key for an address gives the owner complete control over the crypto linked to that address.

    Conclusion

    For UK crypto investors, cryptocurrency wallets are essential. Bitcoin wallets enable customers to easily interact with the blockchain using the user-friendly interface provided by these multiple wallets. In our review, we have listed various best crypto wallet UK for investors who plan to purchase, trade, or store cryptocurrencies.

    We also looked at how to use these wallets, their types, and important features investors should pay attention to before choosing one. These wallets have different features, so users can easily choose according to their preferences.

    Our extensive analysis of the UK Crypto Wallets doesn’t stop here. You can read about our list of Crypto Wallets available in the UK.

    FAQ

    Most frequent questions and answers

    For investors seeking a trustworthy crypto wallet in the UK, eToro is often recommended as the safest crypto wallet. This is because the multi-currency wallet is simple to use and doubles as a brokerage and exchange service. eToro supports about 92 digital currencies and is regulated by the FCA, while the GFSC licenses the wallet in Gibraltar.

    Users can use Trust Wallet in the UK. The wallet provides native support for Ethereum-based decentralised applications like DEXs and DeFi apps. UK residents can use GBP or EUR to purchase Bitcoin and other cryptocurrencies.

    Users can choose a crypto wallet by looking at various factors. Some of these factors include security, the reputation of the wallet provider, ease of use, and cryptocurrency support.

    Crypto wallets come in different formats, and the five types of bitcoin wallets are mobile wallets, web wallets, desktop wallets, hardware wallets, and paper wallets.

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    Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade, or sell any investment instruments or products, including but not limited to cryptocurrencies, or use any specific exchange. Please do not use this website as investment advice, financial advice, or legal advice, and each individual’s needs may vary from that of the author. Investing in financial instruments, including cryptocurrencies, carries a high risk and is not suitable for all investors. It is possible to lose the entire initial investment, so do not invest what you cannot afford to lose. We strongly advise conducting your own research before making any investment decisions. This post includes affiliate links with our partners who may compensate us.

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