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Best Crypto Wallets in the UK

Tobi Opeyemi Amure
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Best crypto wallets UK

In a nutshell, the best crypto wallets in the UK are eToro, Ledger Nano X, and Exodus. eToro offers an all-in-one trading platform and wallet with a wide range of supported cryptocurrencies. Ledger Nano X is a hardware wallet known for its top-notch security features, allowing you to store multiple types of crypto offline. Exodus is a user-friendly software wallet that offers a wide variety of cryptocurrencies and is ideal for those who prefer a desktop or mobile interface.

Choosing the right cryptocurrency wallet is crucial for anyone looking to dive into the world of digital currencies.

I’ve narrowed down the best options, focusing on security, user-friendliness, and fees.

Best Crypto & Bitcoin Wallets in the UK Ranked

Here is a quick list of the top picks to use based on my hands-on analysis:

Don’t invest unless you’re prepared to lose all the money you invest.

  1. eToro – Overall best
  2. Coinbase – Best for beginners
  3. Exodus – Best software wallet
  4. Trust Wallet – Best for large support of digital assets
  5. Metamask – Best for Defi, Web3 Dapps & NFTs
  6. Ledger Nano X – Best hardware wallet
  7. Trezor One – Best for long-term storage

Top Selections Compared

Here I’ve compared my top selections based on four key factors you must consider and compare:

WalletsWallet typeNo. of supported coinsCompatibilityExchange Integration
eToroHot wallet90+Web, iOS, Android, Windows, Mac OSYes
CoinbaseHot wallet200+Web, iOS, Android, Windows, MacOSYes
ExodusHot wallet250+Web, iOS, Android, Windows, MacOS, LinuxNo
AtomicHot wallet1,000+Web, iOS, Android, Windows, MacOSYes
Trust WalletHot wallet65+iOS, AndroidYes
MetamaskHot wallet100+Web, Browser-Erweiterung (Chrome, Firefox, Brave)Yes
Ledger Nano XCold wallet1,300+Windows, macOS, Linux, Android, iOSYes
Trezor OneCold wallet1,100+Windows, macOS, Linux, Android, iOSYes

How We Tested & Rated

As of 2024, nearly 4.97 million people in the UK hold some form of crypto asset, which is nearly 10% of the population1.

As more people get involved, choosing a safe wallet to store your investment is essential.

Using my experience, I’ve assembled a list based on four key scoring criteria:

  1. Wallet type
  2. No. of supported coins
  3. Compatibility
  4. Exchange Integration

Factors such as usability, education materials, and additional features were also considered.

Before we move on, understanding the distinction between cold and hot wallets is crucial. Cold wallets are widely acknowledged for their enhanced safety compared to hot wallets.

While hot wallets provide greater convenience and simplicity, cold wallets prioritise heightened security measures.

Why Trust Us?

I’ve worked in the retail investment & crypto sector in London over the last four years. I worked for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor” where I was able to work with and test some of the biggest crypto brands on the market.

I hand-test each platform I review, many of which I use for personal use. I’m editorially unbiased and only recommend products I’d recommend to my family. You can read about my process and methodology for reviewing platforms here, ‘how we test‘.

Additionally, this article was reviewed by Tobi Opeyemi Amure, a cryptocurrency expert and writer at Investopedia and Investing.com to ensure accuracy.

Best “Hot” Wallets

Software-based “hot” wallets operate by storing your cryptocurrency balance, providing you, as the account holder, with easy access, convenience, speed, and cost-effectiveness.

These wallets are particularly beneficial for beginners looking to securely store smaller amounts of crypto without any complications or additional fees.

Here are my picks of the best “hot” wallets available for users in the UK.

1. eToro – Overall best

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

eToro - Overall best wallet

If you’re familiar with eToro, you’ll be delighted to learn that this renowned investment platform also offers a cutting-edge crypto wallet specifically designed for users in the UK.

It’s a secure and custodial hot wallet solution that seamlessly integrates with their suite of financial services.

One of the standout features of the eToro crypto wallet is its competitive fee structure. With zero deposit fees, users can easily fund their wallets without any additional charges.

When it comes to withdrawals, eToro only imposes a modest 2% fee, ensuring that your funds remain accessible without excessive costs eating into your returns.

While it’s important to note that eToro applies a 1% commission on crypto trades conducted through the wallet, this falls within the standard range.

It’s a reasonable fee considering the convenience and advanced features that eToro brings to the table.

It’s worth mentioning that the eToro wallet does have an inactivity fee, although it kicks in only after one year of inactivity, with a nominal charge of $10 per month. This fee structure ensures that your account remains active and encourages regular engagement.

eToro’s wallet impresses with its diverse selection of cryptocurrencies, featuring major players like Bitcoin and Ethereum.

eToro provides users with a secure and user-friendly platform to store, trade, and manage their digital assets.

With its competitive fees, broad cryptocurrency selection, and seamless integration with the eToro investment platform, the eToro wallet offers a compelling solution for both seasoned investors and newcomers to the crypto space.

Read my full eToro review.

Key rating criteria:

Wallet typeNo. of supported coinsCompatibilityExchange Integration
Hot wallet90+Web, iOS, Android, Windows, Mac OSYes

Pros:

  • Fully accredited in the cryptocurrency sector
  • Supports trading, storage, and investment in various cryptocurrencies
  • Offers multiple award-winning platforms suitable for all experience levels

Cons:

  • Less secure than hardware wallets for long-term holdings

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

2. Coinbase – Best for beginners

Coinbase - Best for beginners

In the realm of custodial, hot wallet providers, Coinbase has emerged as a popular choice.

With broad compatibility, the Coinbase wallet supports an extensive range of the largest and most frequently traded cryptocurrencies. From Bitcoin and Ethereum to Dogecoin and Litecoin, Coinbase ensures access to the most prominent digital assets in the market.

Coinbase’s wallet does have higher fees compared to others. While no inactivity fee is imposed, a 1% commission fee applies to all cryptocurrency trades.

Additionally, users may encounter withdrawal fees when transferring or transacting their crypto investments. Withdrawals for Bitcoin typically incur fees ranging from $1 to $5, while other currencies involve lower costs, usually less than $1.

On the positive side, deposit fees with a Coinbase wallet are relatively low, with a standard charge of $10 for bank transfers.

Coinbase stands tall with its wide-ranging cryptocurrency support and user-friendly interface, making it a go-to option for enthusiasts seeking secure and convenient storage of their digital investments.

Key rating criteria:

Wallet typeNo. of supported coinsCompatibilityExchange Integration
Hot wallet200+Web, iOS, Android, Windows, Mac OSYes

Pros:

  • Among the most secure web-based cryptocurrency wallets available
  • Owned by a regulated company that is publicly listed
  • Stores 98% of customer digital assets in cold storage for added security
  • Features two-factor authentication and allows IP/device whitelisting

Cons:

  • Steep fees associated with deposits and trading activities
  • Requires Know Your Customer (KYC) procedures for Bitcoin account setup

3. Exodus – Best software wallet

Exodus – Best software wallet

Exodus is a popular software-based cryptocurrency wallet.

With its simple interface, extensive cryptocurrency support, and robust security measures, Exodus stands out as a top choice.

The visually appealing interface offers a seamless experience, allowing you to easily track portfolio balances, view transaction history, and manage your assets with simplicity.

Security is a top priority for Exodus. The wallet employs strong encryption techniques to safeguard private keys, ensuring the protection of your funds.

Additionally, Exodus provides the option to set up a secure backup, giving you peace of mind that you can restore your wallet if necessary.

Exodus integrates cryptocurrency exchanges within the wallet itself. This built-in functionality allows you to trade your digital assets for other cryptocurrencies without relying on external platforms.

Exodus is available as a desktop application for Windows, Mac, and Linux, as well as a mobile app for iOS and Android devices.

Key rating criteria:

Wallet typeNo. of supported coinsCompatibilityExchange Integration
Hot wallet250+Web, iOS, Android, Windows, MacOS, LinuxNo

Pros:

  • An excellent choice for novices with minimal trading experience
  • Offers an integrated wallet and exchange functionality
  • Accessible via both mobile app and desktop computer

Cons:

  • Limited to supporting 180 different currencies
  • Lacks open-source software credentials

4. Trust Wallet – Best for large support of digital assets

Trust Wallet – Best for large support of digital assets

Trust Wallet offers a compelling package for individuals looking to streamline their crypto management process.

Backed by Binance, but operating independently, Trust Wallet places a great deal of control in the user’s hands by offering non-custodial storage, which means you maintain full control of your crypto tokens and private keys.

Available as a mobile app for iOS and Android devices, Trust Wallet provides a powerful platform that is intuitive and user-friendly.

More recently, a browser extension was introduced for Chrome, Edge, and Brave, though it’s worth mentioning that it’s still in its early stages and may have a few bugs.

Impressively, Trust Wallet offers compatibility with over 65 blockchains and access to more than 4.5 million digital assets, making it one of the most diverse wallets on the market.

From importing custom tokens to easy connectivity with DeFi apps like PancakeSwap and DEXs, the wallet allows quick purchases of Bitcoin and other assets using a credit or debit card.

In addition, it supports an in-built decentralised exchange system, NFTs, art, and other collectibles, allowing users to track, manage, and store a wide array of assets.

You can also stake various cryptos, and even earn competitive interest on idle tokens without leaving the app, with BNB and Kava offering an APY of 11% and 10% respectively.

However, there are a few drawbacks to consider.

Currently, a bank account cannot be connected for withdrawals, and there are limitations on the assets supported on DEXs.

Additionally, while the browser extension broadens access to desktop users, it’s still new and working through some bugs.

Overall, Trust Wallet is a powerful, all-in-one crypto management tool, especially for those who prefer to handle their crypto transactions via mobile.

Key rating criteria:

Wallet typeNo. of supported coinsCompatibilityExchange Integration
Hot wallet65+iOS, AndroidYes

Pros:

  • Enables rapid crypto purchases via credit or debit card
  • Supports a range of collectibles including NFTs and art
  • Allows for transfers and staking across multiple cryptocurrencies
  • Comes with an integrated decentralised exchange

Cons:

  • The browser extension is in its early stages and may have bugs
  • Direct bank account withdrawals are not supported

5. Metamask – Best for Defi, Web3 Dapps & NFTs

Metamask - Best for Defi, Web3 Dapps & NFTs

MetaMask is a leading Web3 and Ethereum-focused wallet, boasting over 30 million monthly active users.

It’s a non-custodial platform, meaning you have full control over your assets without the need to provide personal information.

The wallet is adaptable, offering both a mobile app and browser extensions compatible with Chrome, Edge, and Firefox, giving users the flexibility to manage their crypto in a setting that best suits them.

The user interface is easy to use, making it a great choice for beginners. Users have the freedom to interact with a plethora of third-party DeFi apps like AAVE, Uniswap, and Axie Infinity.

Despite its focus on Ethereum, it does offer limited support for other networks like Binance Smart Chain and Polygon, which need to be added manually.

One of the notable features is its encryption capabilities, ensuring a secure trading environment. While the wallet is internet-based, making it susceptible to potential hacking risks, it does offer backup via seed phrase for added security.

Though the platform is largely Ethereum-centric, its design simplifies your crypto experience, especially when dealing with Ethereum-based assets.

On the flip side, it could benefit from more comprehensive technical support.

Key rating criteria:

Wallet typeNo. of supported coinsCompatibilityExchange Integration
Hot wallet100+Web, Browser-Erweiterung (Chrome, Firefox, Brave)Yes

Pros:

  • Quick and straightforward installation process
  • No need for personal identification details
  • Compatible with various blockchains and test environments
  • User-friendly asset management dashboard
  • Option to establish spending caps for extra security
  • In-app crypto trading capabilities

Cons:

  • Lacks built-in support for Bitcoin
  • Customer service is not extensive

Best “Cold” Wallets

Cold wallets, also known as hardware wallets or offline wallets, are secure devices designed to store cryptocurrencies offline.

By keeping private keys offline, cold wallets offer enhanced security for the long-term storage of cryptocurrencies and are often recommended for users seeking maximum protection for their digital assets.

Here are my picks of the best “cold” wallets available for users in the UK.

1. Ledger Nano X – Best hardware wallet

Ledger Nano X – Best hardware wallet

The Ledger Nano X is a top-notch hardware wallet that offers exceptional security and convenience for managing your cryptocurrencies and NFTs.

I highly recommend the Ledger Nano X for its impressive features and robust performance.

With the Ledger Nano X, you gain access to a vast array of over 5,500 coins and tokens.

The device also allows you to install up to 100 apps, giving you the flexibility to manage multiple digital assets simultaneously.

One standout feature of the Ledger Nano X is its ability to connect to your phone via Bluetooth. The device boasts a large screen, ensuring ease of use and providing a simple interface for easy navigation.

Another notable advantage is the ability to earn rewards by staking your Ethereum, Solana, Cosmos, and more directly through the Ledger Live app. This feature allows you to passively grow your assets while securely storing them on the Ledger Nano X.

It’s worth highlighting that the Ledger Nano X is certified with the CC EAL5+ security standard, which is the highest security level achievable for consumer devices.

This certification provides additional assurance regarding the device’s robust security measures and protection of your private keys.

The Ledger Nano X is an excellent hardware wallet that combines industry-leading security with user-friendly functionality, I highly recommend it.

Key rating criteria:

Wallet typeNo. of supported coinsCompatibilityExchange Integration
Cold wallet1,300+Windows, macOS, Linux, Android, iOSYes

Pros:

  • Offers the most secure method for storing your digital assets
  • Compatible with over 1,800 diverse cryptocurrencies
  • Long-lasting battery life of more than 8 hours

Cons:

  • Pricier compared to the Ledger Nano S
  • Requires charging before usage

2. Trezor One – Best for long-term storage

Trezor One – Best for long-term storage

The Trezor One is a well-established and reliable hardware wallet.

Trezor’s unique physical security flow ensures that every operation you perform is deliberate and legitimate.

Each transaction is independently verified and physically confirmed directly on your Trezor Model One hardware wallet, giving you complete confidence when buying, selling, and trading coins.

Security is a top priority, and the Trezor One offers multiple layers of protection. It features a user-defined PIN of up to 50 digits long, which safeguards your device against unauthorised access.

For an added layer of access security, you can set up a passphrase—a user-generated combination of letters, words, phrases, and spaces that is required for each physical access to your wallet.

In the event of unforeseen circumstances, the Trezor One allows you to create a multi-word recovery seed. This seed serves as a backup, enabling quick and easy recovery of your funds.

By keeping your recovery seed in a secure location, you can have peace of mind knowing that your crypto assets are protected.

The Trezor One supports an impressive range of 1,289 coins and tokens.

While the Trezor One may not offer all the advanced features of newer models, it remains a trusted and cost-effective hardware wallet solution.

Key rating criteria:

Wallet typeNo. of supported coinsCompatibilityExchange Integration
Cold wallet1,100+Windows, macOS, Linux, Android, iOSYes

Pros:

  • Provides top-tier, institutional-level security measures for safeguarding substantial investments
  • Requires device-based PIN entry for transaction authorisation
  • Compatible with a broad array of tokens

Cons:

  • Lacks a dedicated mobile application
  • The high-end version is priced above £200

Factors to Consider When Deciding

When choosing a wallet, there are several factors to consider:

  • Security: Security should be a top priority. Look for wallets that employ strong encryption, two-factor authentication (2FA), and provide offline storage options if you want to go down the hardware wallet route.
  • Supported cryptocurrencies: Ensure it supports the specific cryptocurrencies you intend to store or trade. Different wallets may have varying levels of compatibility.
  • User experience: Consider its user interface and ease of use. A good wallet should have a user-friendly design and intuitive features, making it convenient for both beginners and experienced users.
  • Backup and recovery: Look for wallets that offer robust backup and recovery options. This ensures that you can restore it and access your funds if your device is lost, stolen, or damaged.
  • Development team and reputation: Research the company’s development team and check for reviews and user feedback. A reputable wallet with an active development team is more likely to receive regular updates and security enhancements.
  • Community support: Consider its community support and engagement. A strong and active community can provide assistance, updates, and additional resources for using the wallet effectively.
  • Additional features: Some wallets offer extra features such as built-in exchange services, staking capabilities, or integration with other financial services. Assess these additional features based on your specific needs and preferences.
  • Compatibility: Ensure it is compatible with your devices (desktop, mobile, or web-based) and operating systems (Windows, macOS, Linux, iOS, Android, etc.).
  • Reviews and recommendations: Read reviews, seek recommendations from trusted sources, and consider the experiences of other users. This can provide valuable insights into its pros and cons.
  • Price: Consider the cost, if applicable. Some are free, while others may have one-time fees or subscription models. Evaluate the features offered in relation to its price.

Final Thoughts

To wrap things up, choosing a crypto wallet in the UK is a critical decision for safeguarding your digital assets.

By considering factors such as security features, ease of use, supported cryptocurrencies, and reputation, you can find a wallet that suits your needs.

Whether you opt for a hardware wallet like Ledger Nano X or a software wallet like Exodus or eToro, prioritise security measures like strong passwords, two-factor authentication, and regular software updates.

Remember to keep your wallet and devices secure, stay vigilant against phishing attempts, and educate yourself about the evolving landscape of crypto security.

FAQs

Is it wise to leave crypto on an exchange?

While leaving cryptocurrency on an exchange can be convenient for frequent traders, it’s generally not recommended for long-term storage. Exchanges are vulnerable to hacking, and if the exchange doesn’t have sufficient security measures, your funds could be at risk. Moreover, when your crypto is on an exchange, you don’t control the private keys to your funds, the exchange does. Therefore, for larger amounts and long-term holdings, it’s best to transfer your cryptocurrency to a secure, private wallet where you control the private keys.

You may also like:

eToro is a multi-asset platform that offers both investing in stocks and crypto assets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as a basis for investment decisions.

Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.

Crypto assets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilising publicly available non-entity-specific information about eToro.

Sources:

  1. https://www.fca.org.uk/publication/research-notes/research-note-cryptoasset-consumer-research-2023-wave4.pdf ↩︎

Will Fenton is the founder of Sterling Savvy. He is a personal finance expert and writes about trading, investing, budgeting, and other financial topics.

Along with his education in Economics & Finance, he has experience working in the financial services industry in London working for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor”.

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