Your Guide to the Best Crypto Wallet for 2022

If you intend to get into cryptocurrency this year, you need a secure crypto wallet before you buy your first coin or token. Hundreds are available today, which makes choosing the best one a challenge especially if you are new to the world of non-fiat currency. The four listed on this site are our top picks for the best crypto wallets in 2022.

Types of Crypto Wallets Explained

No matter what type of crypto wallet you choose, they all do basically the same thing. Just like the wallet in your pocket holds your cash, a crypto wallet allows access to your cryptocurrency. Since these coins and tokens exist in digital space only, the wallet does not store your coins or tokens directly. Instead, they make it possible for you to interact with the blockchain that stores information about the currency you own and handles transactions.

Crypto wallets are more like online bank accounts. They let you access the system that makes it possible to know how much currency you have and use it for various transactions. In order to do this, you have both a public key and a private key. The public key is a bit like an account number that allows other people to send you cryptocurrency. A private key is more like a special password or PIN that lets you send cryptocurrency to someone else. Wallets handle both of these for you and provide a considerable amount of security for any transaction.

Three types of crypto wallets exist: hardware, software, and paper. In the dawn of cryptocurrency, your keys to the blockchain were actually printed on paper. No one does this anymore. Software crypto wallets still exist, but hardware ones are safer. These devices hold public keys to the blockchain, which allow for transactions, and your private keys that allow you to access your crypto specifically. Software wallets, also known as hot wallets, are connected to the Internet all the time and therefore more susceptible to scams or hack attacks. On the other hand, hardware wallets, or cold storage, crypto wallets are not.

What to Look for in a New Crypto Wallet

With all this information, you may still have confusion about what to look for when getting your first or a new crypto wallet. When it comes to choosing your best option, it helps to ask yourself the following questions:

Will I use only one cryptocurrency, or do I need a wallet that holds multiple types? Not every wallet offers access to multiple currency blockchains. Although you can get a dedicated option directly from coin or token providers, buying a multi-currency wallet gives you a lot more flexibility. After all, when new opportunities arise, you may want to take advantage of them.

How much security does a specific crypto wallet provide? While hardware wallets offer more security than any other type, different ones have different levels and reputations. We chose the ones in this top list for their security and other features.

Am I comfortable with how to use this crypto wallet? Options like onboard screens, the size of the wallet itself, and connection options differ slightly. For the most part, anyone who can understand cryptocurrency and has used a computer and USB port in the past will have no problem with any of the options on our list.

Also, it helps to research the reputation of different hardware wallets before buying one. This does not mean that the most popular is the best. You may find features or different options that better suit your unique cryptocurrency needs.

Crypto Wallet Prices – What Should You Pay?

Hardware wallets can cost a lot of money. You are getting a physical device that provides access to your cryptocurrency and the blockchain system where it lives. You are also paying for security, which is the most important deciding factor when shopping for a wallet. So many have exceptional levels of security features these days, that many people also look for multi-currency convenience and user-friendly operation. You can find good hardware wallet choices at a cost of under $100 and up to several hundreds of dollars.

Conclusion

Whether you are brand-new to the cryptocurrency world or want to upgrade your experience, the best hardware crypto wallets of 2022 offer exceptional options to consider. Check out the in-depth reviews of our top picks before you make a final decision.