20 Best Non-Custodial Crypto Wallets for 2024

Non custodial wallets give crypto investors full control of their private keys. This means that the crypto tokens can be stored and transferred without third-party interference.

Not sure which non-custodial wallet to use? This guide reviews the 20 best non custodial wallets for safety, fees, supported coins, features, and more.

What is a Non-Custodial Wallet?

Let’s break down the non custodial wallet meaning for beginners:

Non-custodial wallets allow crypto investors to become their own bank. This is because non-custodial wallets give users full control of their private keys. The private keys can not be accessed by the wallet provider, so only the user can authorize transactions. In other words, there is no requirement for users to go through a third party when storing or transferring cryptocurrencies.

This is in contrast to custodial wallets, which sit between investors and their private keys. And hence, investors can only execute transactions after the custodial wallet provider approves them. Non-custodial wallets are not without their risks. After all, users must take full responsibility for the safety of their non-custodial wallets.

If the wallet is hacked, the non-custodial provider cannot help recover the cryptocurrencies. Nor can they help if the user loses their private keys. Non-custodial wallets are available in many different forms. This includes mobile apps for iOS and Android, as well as browser extensions for Chrome and Firefox.

Some investors opt for non-custodial wallets offering cold storage. This includes hardware and paper wallets. Non-custodial wallets also come as desktop software for Windows and Mac. Each option comes with varying levels of security and convenience.

Best Non Custodial Crypto Wallets Reviewed

Now let’s move on to our reviews of the best non-custodial wallets for 2024.

1. Best Wallet – Overall Best Non-Custodial Wallet 2024

Best Wallet is a Web3 mobile app that aims to become the ultimate platform for storing and trading cryptocurrencies, as well as for safekeeping your digital collectibles and analyzing the crypto market without leaving your wallet.

This means that users can store their coins, tokens, and NFTs on multiple blockchains and exchange them through the app. Otherwise, you would need to have multiple wallets for different blockchains and you would need to use crypto bridges to move tokens between blockchains.

The token swap is made easy with the Best DEX integration. This is a separate decentralized exchange that anyone can use by simply visiting the Best DEX and connecting their crypto wallets.

Those who consistently use Best Wallet and Best DEX as well as those who complete weekly tasks will receive $BEST token airdrops during Phase 6 of the Best Wallet development.

The $BEST token is the utility and governance token that will give holders voting rights and benefits like early access to crypto presales, NFT airdrops and more. Those who stake $BEST will even benefit from zero gas fees when swapping coins.

Best Wallet comes with basic functionality now but it will soon get updates, including market insights with advanced price charts, crypto news and token analytics. The latter lets you monitor token sentiment and track trending tokens to help you identify market opportunities.

To keep your tokens safe, Best Wallet uses two-factor authentication and a four-digit password to unlock the app. If your device supports biometrics such as fingerprints or face ID, you can activate that as well.

All this makes Best Wallet the best non-custodial wallet for all things crypto. At the moment you can only use it on mobile, but the team is building a browser extension that will arrive within the coming months.

Follow Best Wallet on X and on the Best Wallet Telegram channel to get information  on new releases and token airdrops.

2. Exodus – Securely Manage Crypto Portfolios Across Multiple Devices  

Exodus is one of the best non-custodial wallets for long-term crypto investors. It supports over 260 cryptocurrencies and NFTs across multiple blockchains. This includes everything from Bitcoin and Dogecoin to Litecoin, Monero, and XRP.

According to our Exodus wallet review it is compatible with multiple devices. This includes mobiles (iOS/Android) and desktops (Windows/Mac/Linux). Exodus wallets can also be accessed via a browser extension for Chrome and Brave. All supported wallet types are free to download and maintain. The standout feature of Exodus is its portfolio dashboard.

This allows investors to view how their crypto investments are performing. Exodus offers plenty of useful statistics, such as the best and worst-performing tokens over a specific timeframe. Users can also set their preferred currency. This makes it seamless to view real-time token prices in USD, EUR, GBP, and more.

3. Ellipal – EAL5 Certified Metal Seared Hardware Wallet Gives Trading Access to 10,000+ Cryptos

Ellipal is a blockchain technology company focusing on crypto security and blockchain service facilities. One of its non-custodial wallets, Ellipal Titan 2.0, deploys robust security protocols to support safe crypto trading opportunities. 

With this cryptocurrency wallet, users can access more than 10,000 crypto tokens. This decentralized wallet offers a completely air-gapped operation – ensuring your funds are protected against online hackers. Through its in-built camera, Ellipal Titan 2.0 generates QR codes to verify transactions. 

The wallet has a dual defense layer and a CC EAL5+ secure element. Notably, Ellipal Titan 2.0 is the first ever metal-seared hardware wallet. Once the wallet is disassembled, no one can access your private information. 

The strong external layer secures the wallet against physical damage or supply-chain-related attacks. The in-built auto-destruct feature ensures that your private information is secure if the wallet is tampered with. 

The 4” full lamination IPS display ensures you can easily navigate through the available cryptos and confirm transactions. Supporting quick-touch response, the wallet can be set up in 5 minutes. You can get extra security with the two-factor authentication process, which requires setting up a PIN and a password. 

The Ellipal Titan 2.0 retails at $169. 

4. Zengo – Exceptionally Secure and User-Friendly, Self-Custody Crypto Wallet

The Zengo mobile app wallet, available for both Android and iOS, removes one of the main barriers to entry into crypto, the seed phrase, and makes it much easier for a newcomer to retain custody over their assets.

Zengo’s security is so good, that with over 1 million customers, and operations running for over 5 years, no Zengo wallet has ever been hacked—and if users ever need help there is 24/7 support available to them. This alone makes it one of the best non-custodial crypto wallets available.

The Zengo wallet supports over 120 cryptocurrencies and allows users to buy, sell, and trade them through a built-in dApp marketplace, with seamless dApp connections facilitated by WalletConnect.

Zengo users can also store and view their NFT in the mobile wallet, as well as buy, sell, and trade NFTs from multiple chains on NFT marketplaces through the built-in dApp marketplace.

Zengo is available as a free version with all these features. However, a Pro version is available for $9.99 per month or $69.99 per year (a 40%+ saving) that offers users features that include:

• Legacy Transfer offers digital asset continuity over generations
• Theft Protection by offering multi-factor authentication
• A Web3 Firewall protects against hacks and attacks
• Priority Support

5. Ledger Nano – Access Over 5,500 Cryptos with this Popular Cold Wallet

Ledger is one of the most popular wallet brands going around. One of its flagship products – Ledger Nano, gives users 100% ownership of their assets. This particular wallet allows you to trade more than 5,500 cryptos. 

With the Ledger Nano, you can connect to various other crypto exchanges and DApps (Decentralized Applications). The hardware wallet boasts a simple design – allowing one to verify transactions through the two-button screen. 

Embedded in the wallet is a CC EAL5+ certified secure chip. Ledger Nano deploys BOLOS, its proprietary operating system, to protect user’s funds. A 24-word recovery phase is also provided during the wallet set-up. 

Notably, Ledger Nano also offers multi-signature security through its integration with Coinkite. Users can connect this wallet to the Ledger Live app through their mobile phones and desktop device. The Live app allows you to stake cryptos and start generating passive income. Investors can even swap cryptos through the app. 

This popular wallet costs just $79. 

6. Blockstream Jade – Air-Gapped Hardware Wallet Priced at Just $64.99

Blockstream Jade is a compact, non-custodial wallet that protects your Bitcoin and liquid assets. By providing the private keys to the user, Blockstream Jade ensures that you get 100% ownership of your assets. 

This is an open-source hardware wallet that uses a remote secure element to offer advanced security protection. This virtual secure element is created with the Blind Oracle Model. No Bluetooth or internet connection is required when verifying transactions with Blockstream Jade. Users can set up the wallet in a few minutes and create a six-digit PIN to log in. 

Blockstream Jade can be connected to Blockstream Green – the online wallet platform offered by Blockstream. This process allows users to manage their assets through a mobile and desktop. 

Blockstream Jade offers features such as Multisig Shield technology, along with offline key storage. This allows you to generate a recovery phase and access your funds even after losing the PIN. 

A camera is provided to support fully air-gapped transactions, as you can scan and generate offline QR codes to complete transactions. 

The tradable assets on Blockstream Jade include Bitcoin and liquid assets such as Bitcoin Liquid (L-BTC) and Tether Dollar (USD-T). Notably, this non-custodial wallet retails at just $64.99. 

7. BitBox – Swiss-Engineered Hardware Wallet Comes with Invisible Touch Sensors

BitBox02 is the flagship non-custodial wallet of BitBox – as it offers a sleek design, robust security protocols, and a powerful secure chip. 

This non-custodial wallet allows users to store their cryptos completely offline, keeping them safe against hackers. Upon receiving your wallet, you can connect it with the BitBox app. 

With a USB-C cable, you can connect the wallet to your Laptop and Android devices. You can set up a PIN and access a 24-word recovery phrase. For easy and instant backup, BitBox02 provides a microSD card. 

The physical wallet comes with a 128×46 px OLED Display, making confirming and verifying transactions simple. One of the features we like about BitBox02 is the incorporation of invisible touch sensors on the wallet. With a simple tap, you can navigate more than 1,500 cryptos. 

This secure wallet requires hackers to steal three valuable pieces of information to access user’s funds. 

First, one needs to get a secret from a secure chip – which cryptographically hides private information from any hackers. So far, a secure chip has never been hacked. This chip also protects the wallet from physical damage. 

The next step is to access a secret from the wallet’s microcontroller. Finally, one must also access the PIN to access the funds. Therefore, it is virtually impossible to break into this wallet. The BitBox02 is priced at $115.83. 

8. CoolWallet – World’s Thinnest Hardware Wallet Costs Just $99

The CoolWallet S is a durable and non-custodial wallet that offers robust security features at an affordable price. As thin as a credit card, the CoolWallet S is the world’s thinnest hardware wallet. 

This hardware wallet is heat resistant up to 60 degrees and water resistant up to one hour. CoolWallet S also uses advanced cold pressing technology, making the wallet inoperable after being disassembled. A popular non-custodial wallet, CoolWallet S contains a CC EAL5+ certified secure element chip. 

One can trade more than 10,000 cryptos and even access DeFi (Decentralized Finance) tools and DApps (Decentralized Applications). Users can connect their wallet to the app, which is compatible with iOS and Android devices. 

Notably, CoolWallet S leverages encrypted AES-256 Bluetooth devices to secure confidential data transfer. However, the microcontroller of Encrypted AES-256 is not open source. This means that any individual cannot inspect or update the software code. 

Once you set up the wallet, you will be provided with a six-digit PIN. This is used to verify transactions and gain access to the wallet. This non-custodial wallet retails at just $99. 

9. OKX Wallet – Multi-Chain Wallet App That Aggregates to Over 200 DeFi Platforms   

OKX offers a decentralized crypto wallet with non-custodial storage. It comes as a mobile app for iOS and Android, although the wallet can also be connected to the OKX desktop website. We found that OKX is the best non-custodial wallet for investment features.

For example, it connects to over 15 blockchain networks and 200 decentralized exchanges via a bridge aggregator. This means that token swaps are executed at the very best market rate without leaving the OKX wallet.

As one of the best MPC wallets, OKX charges a variable fee for this service, which is displayed before confirming the swap.

The OKX bridge aggregator is also compatible with staking, yield farming, and savings accounts. Users simply need to type in the cryptocurrency they want to earn interest on, and OKX displays the highest rates. For example, OKX is currently quoting APYs of over 10% and 13% on BUSD and DAI, respectively. While those holding Tether can earn over 6%.

10. SafePal – Non-Custodial Wallet Generates Private Keys Using a Random Number Generator

SafePal S1, the flagship product of SafePal, is another top non-custodial wallet to use. This fully decentralized wallet offers KYC-free (Know Your Customer) access and gives complete ownership of your crypto assets.

The wallet chip boasts an EAL5+ secure element, making it an ideal choice for safety and protection. The private keys are generated through a random number generator, making it hard for hackers to breach your account. 

Similar to some of the other wallets on our list, SafePal S1 uses an air-gapped signing mechanism by using QR codes. The wallet can be connected to the SafePal S1 app via iOS, Android, Chrome, and Firefox.

A combination of QR codes and your PIN are required to confirm the transactions. You can access over 100 blockchains on SafePal S1, store NFTs, and connect with DeFi tools. The wallet comprises a 1.4” color screen and a 5-button pad, making transactions seamless and straightforward. 

The wallet incorporates an anti-tampering and self-destructive mechanism to protect it from hacks and physical damage. The wallet is super lightweight by design and can be used on the go. Notably, the SafePal S1 costs just $49.99 – making it one of the most affordable wallets on our list. 

11. ColdCard – Bitcoin-Only Wallet Offers a User-Friendly Design and Robust Security Measures

Designed and crafted in Canada, the ColdCard Mk4 is a hardware wallet that offers an exceptional level of physical security, ensuring the safeguarding of users’ Bitcoin assets.

At its core, the ColdCard Mk4 prioritizes security by storing seed words in specialized chips, guaranteeing the secure storage of secrets. Notably, ColdCard Mk4 is a Bitcoin-only trading wallet. Offering unlimited memory, the wallet supports seamless storage without transaction size limitations. 

Its user-friendly design includes a numeric keypad, simplifying PIN entry, while the 128×64 pixel OLED screen offers clear visibility. Available in a number of colors, the wallet also integrates a microSD card slot for backup and data storage.

What sets the ColdCard Mk4 apart is its commitment to transparency and safety. All code is open for inspection, instilling trust and assurance in its users. With a USB-C connector and support for completely offline cold storage, this wallet ensures robust security measures, including air-gapped transactions.

The ColdCard Mk4 retails at $157.94. 

12. Trezor – Top Hardware Wallet Offering Non-Custodial Cold Storage   

Trezor is a leading hardware wallet and one of the best non-custodial options for storing large amounts of cryptocurrencies. Unlike software wallets, Trezor is always offline and never connected to live servers; making it one of the best cold wallets on the market. Moreover, the private keys are stored within the Trezor device.

When setting Trezor up, users will need to choose a PIN. This can be any length from 4 to 50 digits – the longer the better. Outgoing transactions are only possible when the PIN is entered on the Trezor device. This can be an issue for investors that like to regularly trade cryptocurrencies.

For example, suppose an investor is on vacation and desperately wants to exit a cryptocurrency investment. If they don’t have the Trezor device with them, the cryptocurrencies cannot leave the wallet. That said, its high-level security tools are a must for long-term investors with a large portfolio value.

In terms of pricing, we found that the Trezor Model One retails for just $69. Those seeking touchscreen features and support for USB type-C will need to fork out $219. Both options come with support for the Trezor Suite app and desktop software. This allows investors to view their portfolio balances, swap tokens, and earn staking rewards.

13. Coinbase Wallet – Non-Custodial Wallet App With DeFi Features      

Coinbase Wallet is a decentralized wallet app for iOS and Android devices. It supports thousands of cryptocurrencies, including some of the best altcoins. For instance, Solaba, Dogecoin, Arbitrum, USD Coin, and Litecoin. Bitcoin is also supported, so investors can easily manage their cryptocurrency portfolios under one roof.

It is important to note that the Coinbase Wallet does not collect any personal information from users. Nor does it share any data with the centralized Coinbase exchange. The Coinbase Wallet provides users with their private keys via a backup passphrase. This is encrypted, so Coinbase cannot access the wallet.

Coinbase Wallet is also a great option for accessing DeFi applications. It instantly connects to the likes of UniSwap and Yearn.finance, allowing investors to earn passive income. This also enables users to swap tokens without needing to use the centralized Coinbase exchange – which charges 1.49% per trade.  Finally, the Coinbase Wallet is also suitable for buying and storing NFTs.

14. SecuX – Non-Custodial Wallet Deploys a Certified Military Grade Chip 

SecuX, a trailblazer in the field of crypto hardware wallets, unveils its latest non-custodial option: the Shield BIO. This hardware wallet merges advanced technology with a sleek, credit card-shaped design to offer users an unparalleled level of security and convenience.

At the core of Shield BIO’s security features lies its sophisticated biometric recognition system. By integrating biometrics, the wallet ensures that only authenticated users gain access to their digital tokens, fortifying security with an additional layer of protection. This innovative approach to authentication enhances peace of mind for users, knowing that their assets are shielded against unauthorized access.

The Shield BIO incorporates an EAL5+ military-grade security chip. Its compact form enables seamless usage while on the move, catering to the fast-paced nature of the digital world. The touch configuration feature streamlines the trading experience, allowing effortless transactions of over 10,000 cryptocurrencies.

Assets can be managed with the SecuX mobile app and desktop platform, enabling a seamless cross-platform experience. Despite its advanced features and top-tier security protocols, the Shield BIO remains competitively priced at $149. 

15. MetaMask – Popular Non-Custodial Wallet 2024  

MetaMask was launched in 2016 and is used by more than 30 million crypto investors. It can be accessed on two different devices – mobiles and web browsers. The former includes an app for iOS and Android, while the latter is supported by Chrome, Firefox, Edge, and Brave.

Given that it’s connected to the internet, this makes MetaMask one of the best hot wallets on the market as it also provides a decentralized wallet that’s outside the reach of centralized agencies.

Like most non-custodial wallets, Metamask is protected by a password (browser extension) or PIN (mobile app). This needs to be entered every time the wallet is opened. Moreover, when setting up the wallet, MetaMask provides users with a 12-word passphrase. This represents the user’s private keys. The passphrase should only be used when the password/PIN is forgotten, or the user needs to access their wallet from a new device.

While MetaMask does not support Bitcoin, it is compatible with Ethereum and all ERC20 tokens. Users can also manually add Arbitrum, Polygon, Binance Smart Chain, Optimism, and Avalanche. All native tokens from within these networks are supported. There are no fees to download MetaMask, not to receive cryptocurrencies.

GAS fees are charged when making transfers, but MetaMask does not add a markup. The MetaMask ‘Portfolio’ feature allows users to earn staking rewards on Ethereum. This feature is backed by Rocket Pool and Lido. MetaMask also supports token swaps, charging 0.875% of the transaction amount.

This fee is built into the exchange rate that MetaMask sources from its partnered exchanges. MetaMask is also one of the best non-custodial wallets for accessing dApps like PancakeSwap and UniSwap. MetaMask is also commonly supported by the best ICOs, enabling investors to buy new cryptocurrencies before they are launched.

In terms of drawbacks, MetaMask lacks support for many of the most popular cryptocurrencies in the market. Not only does this include Bitcoin, but XRP, Solana, and Cardano. Another drawback is that MetaMask only comes preinstalled with the Ethereum network. While other networks are supported, these need to be manually added by the user.

Investors can check out our in-depth MetaMask review here to determine if it’s the best non-custodial wallet for their needs.

16. Trust Wallet – Decentralized Wallet Supporting 4.5 Million Digital Assets   

Trust Wallet more than covers MetaMask’s shortfall when it comes to supported networks. Put simply, Trust Wallet is compatible with over 70 blockchains and more than 4.5 million digital assets. This covers everything from Bitcoin and XRP to Solana, Cardano, and Ethereum.

Trust Wallet is also compatible with NFTs, making this the best non-custodial wallet for diversified portfolios. Trust Wallet is available as a mobile app for iOS and Android. It also offers a browser extension for Chrome, but there is currently no support for Edge or Firefox. Similar to MetaMask, Trust Wallet users must choose a password or PIN when setting the wallet up.

Trust Wallet will then provide users with their private keys, shown as a 12-word passphrase. For added security, users can increase the passphrase to 24 words. We found that Trust Wallet is one of the best non-custodial wallets for accessing dApps. It seamlessly connects to UniSwap, PancakeSwap, Compound, and thousands of other dApps from within the wallet.

Trust Wallet also supports WalletConnect, enabling users to connect to dApps via a QR code. There is also an in-built staking tool, and users can swap tokens across multiple blockchains.  There are no fees charged by Trust Wallet for any of its primary services. While GAS fees are payable when transferring funds, users pay this directly to the blockchain.

In terms of drawbacks, we found that Trust Wallet offers limited customer support. While it offers a support ticket system on its website, replies are often slow. Moreover, we found that Trust Wallet uses Simplex to facilitate fiat money deposits. Simplex charges up to 5%, so this feature should be avoided.

Here’s our more detailed Trust Wallet review.

17. Electrum – Best Desktop Wallet for Storing Bitcoin      

We found that Electrum is the best non-custodial wallet for storing Bitcoin on desktop devices. While at first glance, the Electrum website looks overly basic, its wallet is ultra-secure. For example, we like that Electrum allows users to set up multi-sig permissions.

In a nutshell, this requires users to verify outgoing transactions with multiple private keys. So, even if one private key is hacked, they wouldn’t be able to steal the user’s Bitcoin. Another security feature is cold storage. Electrum allows users to keep their private keys offline, with the wallet viewable in ‘read only’ mode.

The wallet only needs to be brought back online when making transfers. We also like that Electrum indexes the Bitcoin blockchain, promoting faster and more efficient transactions. That said, Electrum’s main drawback is that it only supports Bitcoin. Those looking to store ERC20 or BSC tokens will need to consider another option.

Moreover, Electrum does not offer token swaps or staking tools. It doesn’t support dApps, either. Nonetheless, Electrum is completely free to use. GAS fees are forwarded to the blockchain, meaning no markups. Although Electrum is the best non-custodial wallet for desktops, it also offers an Android app. This is ideal when putting the wallet in ‘read only’ mode.

18. BitAddress – Best Paper Wallet for Storing Bitcoin Offline  

BitAddress provides Bitcoin investors with a free alternative to hardware wallets. Put simply, BitAddress allows users to create a Bitcoin wallet address at the click of a button. The provider displays the address and its private keys as QR codes.

The idea here is that users can transfer their Bitcoin to the created address, print the QR codes, and keep the paper somewhere safe. In doing so, the private keys are never at risk of being hacked. While inconvenient for actively moving Bitcoin, BitAddress is one of the best non-custodial wallets for security.

To move Bitcoin from the paper wallet, users will need to import their private keys into a software wallet. This can be done by scanning the QR code printed on the paper. Although BitAddress is a great option for storing Bitcoin, it isn’t compatible with any other networks.

That said, there are plenty of other providers in this space that are able to create paper wallets for XRP, Ethereum, and other cryptocurrencies.

19. Coinomi – Popular Wallet App Supporting Over  125 Different Blockchain Standards 

Coinomi is a non-custodial wallet with support for desktops and smartphones. Users can download the iOS/Android app or desktop software for Windows and Mac. There are no fees to use Coinomi’s primary features, including storage and incoming transfers.

Outgoing GAS fees go directly to the blockchain at the exact rate quoted by miners. Coinomi is a multi-chain wallet, supporting 125 blockchain networks. This includes everything from Tron and Bitcoin to Ethereum and Binance Smart Chain. Coinomi allows users to manually add a cryptocurrency if the network is supported, but the token isn’t listed.

This means that Coinomi supports tens of thousands of tokens. That said, there is no support for Solana or Cardano. Nevertheless, we like that Coinomi connects to dApps, enabling users to earn interest and swap tokens. It also supports WalletConnect for seamless DeFi connections on multiple devices.

20. MyEtherWallet – Non-Custodial Mobile Wallet Supporting All ERC20 Tokens    

There are more than 450,000 ERC20 tokens in the market and MyEtherWallet supports them all. It directly connects to the Ethereum blockchain, making it an ideal wallet for actively managing ERC20 token investments. What’s more, MyEtherWallet is completely free to use.

This wallet provider offers a mobile app for iOS and Android. Users control their private keys, which are encrypted and stored on the smartphone device. We also like that MyEtherWallet offers an NFT management dashboard. This supports all NFTs on the ERC721 standard.

Moreover, MyEtherWallet has its own collection of NFTs that give ownership of confirmed Ethereum blocks. Another top feature of MyEtherWallet is it connects to 1inch and DEX.AG. This enables users to generate passive rewards on cryptocurrencies stored in the wallet.

Why Use a Non-Custodial Wallet? Benefits Explained

Now let’s take a much closer look at why non-custodial wallets are preferred by many cryptocurrency investors.

Crypto Investors Become the ‘Bank’

Custodial wallets are very similar to bank accounts. This is because the custodian is responsible for looking after the user’s cryptocurrency tokens. But equally, the custodian has full control of the funds, meaning investors need to seek approval when making transactions.

This goes against the core ethos of cryptocurrencies, which strives to decentralize many aspects of the traditional financial space. As such, non-custodial wallets are increasingly becoming popular. They enable investors to become their own bank, meaning the rightful owner of the cryptocurrencies has full control.

In other words, only the owner of the non-custodial wallet can approve transactions.

Frictionless Payments

Non-custodial wallets offer much faster transaction speeds when compared to custodial providers.

For example, when transferring cryptocurrencies from a custodial wallet, the user must first ‘request’ a withdrawal. This means the user needs to wait for the request to be approved. The timescale for approval will vary considerably depending on the custodian. That said, some custodial wallets are known to take hours – even days, to approve transactions.

Now compare the process to non-custodial wallets. As soon as the user confirms a transfer, the transaction will be sent to the blockchain. This means transactions will be processed in line with the network’s average confirmation time. This is often just seconds but will vary depending on the blockchain.

Access DeFi Platforms Directly

We also found that non-custodial wallets are ideal for accessing DeFi platforms. These platforms provide wallet users with an array of features.

• For example, connecting to Uniswap allows investors to swap cryptocurrency tokens without using a centralized exchange.
• While connecting to OpenSea allows wallet users to buy and store NFTs.
• The possibilities are endless, all accessible via most non-custodial wallets.

Even if the wallet doesn’t support DeFi platforms, a simple workaround is to use WalletConnect. This is an in-built feature supported by most non-custodial wallets as well as anonymous crypto wallets, allowing users to connect to DeFi platforms via a QR code.

How we Ranked the Best Non-Custodial Wallets

There are dozens of non-custodial wallets in the market. This makes the selection process increasingly difficult.

Below, we explain how we ranked the best non-custodial wallets for this comparison guide.

Device Type

We covered a vast range of non-custodial wallets across many device types. This ensures that all crypto storage requirements are met.

For example, those looking to actively trade cryptocurrencies might prefer a mobile wallet. While those investing large amounts might be better suited for a hardware wallet.

Security Features

We gave priority to non-custodial wallets with the best security features.

This includes the likes of:

• Cold storage
• Backup passphrase
• Multi-sig permissions

The most secure options are hardware and paper wallets, considering the private keys are kept offline.

Supported Networks

The best non-custodial wallets support plenty of blockchain networks. For example, Trust Wallet supports 70 networks, ranging from Bitcoin, Solana, and Cardano to Litecoin, Ethereum, and Binance Smart Chain.

Trust Wallet supports all cryptocurrencies within each supported network. This is because custom tokens can be manually added by pasting in the contract address.

At the other end of the scale, non-custodial wallets like Electrum accept just one cryptocurrency – Bitcoin. Other networks cannot be added, meaning diversified investors are not catered for.

DeFi Features

We prefer non-custodial wallets that connect to DeFi platforms. For example, MetaMask supports hundreds of dApps, from Open Sea and UniSwap to Compound and Yearn.finance.

This opens up a world of possibilities, as investors can earn interest on their wallet funds. This is achieved through staking as well as crypto savings accounts and yield farming.

How to Store Seed Phrases Securely

After buying a non-custodial wallet, users will be provided with a seed phrase. This is a sequence of 12, 18, or 24 words, that needs to be entered to access your wallet. Therefore, it is vital for customers to get a storage device to properly secure their seed phrases. 

One such device is Cryptotag, one of the world’s best-selling seed phrase storage products. It allows users to store between 24 – 42 seed phrases. The platform offers three products, catering to everyday holders, veterans, and even offering multi-share storage solutions. 

What’s the Difference Between Custodial and Non-Custodial Wallets?

The main difference between custodial and non-custodial wallets is in the ownership of the private keys.

Custodial wallets are centralized entities that store cryptocurrencies on behalf of their users. The provider does not give users access to their private keys. This means that the custodial wallet controls the funds. As such, users need approval before transferring funds.

Non-custodial wallets do not have any control over the user’s cryptocurrencies. The user is the only person to control the private keys. This ensures that only the owner of the cryptocurrencies can authorize transactions.

How Many Cryptos Can You Store in a Non-Custodial Wallet?

There is no limit to the number of cryptocurrencies that can be stored in a non-custodial wallet. After all, non-custodial wallets simply provide a gateway to the blockchain.

In fact, some providers allow users to create and manage multiple wallets on the same device. Each wallet will have its own private keys and addresses.

For example, a user might decide to store all of their ERC20 tokens in one wallet. Then they might create a separate wallet to store their BSC tokens.

However, just remember that managing multiple wallets can be complex. Any mistakes that are made could result in a costly outcome.

Conclusion

In summary, non-custodial wallets are popular with investors that want unparalleled control over their cryptocurrencies. Only the investor has access to their private keys, allowing them to become their own bank.

The key takeaway is that investors will need to choose a suitable non-custodial wallet for their personal requirements. For example, those actively buying and selling cryptocurrencies will prefer a software wallet on a smartphone or desktop device.

Such is the Best Wallet, which is a mobile app that can store your cryptocurrencies from multiple blockchains. Those who actively use the wallet will become eligible for the $BEST token airdrop.

References

https://ethereum.org/en/developers/docs/gas/

https://metamask.io/

https://support.simplex.com/hc/en-gb/articles/360014078420-What-fees-do-you-charge-for-card-payments-

https://coinmarketcap.com/view/bnb-chain/

https://trezor.io/compare

https://walletconnect.com/

https://bitpay.com/blog/erc-20-tokens-what-they-are-and-how-they-are-used/

https://ethereum.org/en/developers/docs/standards/tokens/erc-721/

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