The world of free crypto wallets is constantly evolving. In the past, there were only a handful of options available. They had very minimal features that did not meet the needs of most users. Most users ignored them because they were not worth their time.
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Today, free crypto wallets have become much more sophisticated. They offer a wide range of features that cater to the needs of different users. People no longer look for paid wallets because they can find everything they need in the free wallets. From security to privacy, they have it all.
What is a Free Crypto Wallet?
Free crypto wallets are those that don’t require users to pay any fees to join or use them. This means that you don’t pay anything to download and install the wallet on your computer or phone. You also don’t have to pay any monthly subscription fees.
However, “free” doesn’t mean you don’t pay transaction fees. When you make a transaction, the network will charge you a small fee. This is to encourage users to participate in the network and keep it running smoothly.
Best Free Crypto Wallets in 2023
In this article, we are going to look at the five best free crypto wallets in 2023. We will compare and contrast their features so that you can decide which one is right for you.
1. Tezro
Type: Software (Web, Mobile and Desktop)
Features:
Tezro is a secure, reliable, and easy-to-use cryptocurrency wallet that supports multiple currencies. It is considered one of the best free crypto wallets thanks to its revolutionary features that make it stand out from the competition.
This wallet has a built-in disruptive messaging system that allows users to securely communicate with each other without any third-party involvement. You can use this feature to share important information or files with your contacts.
It also has a unique multi-currency support system that allows users to store, send, and receive different types of cryptocurrency in one place. Tezro also includes a loan service added in an update last year.
This free crypto wallet has an escrow system that protects buyers and sellers in online transactions. This system works by holding the funds in a secure and protected account until both parties have confirmed that they have received what they agreed upon.
A robust crypto exchange is also available on Tezro, allowing users to buy and sell digital assets easily and quickly. What makes this exchange unique is that it does not require any KYC or AML requirements. This makes Tezro one of the best free crypto wallets for those who value their privacy and security.
The wallet has auctions and decentralized financing feature that allows users to invest in digital assets and get returns on their investment. This makes it a great choice for those who are looking to grow their portfolio.
Benefits
- Secure: Using military-grade SSL encryption, Two-Factor Authentication, and other revolutionary security features, Tezro is one of the most secure crypto wallets available.
- Private: Tezro is a non-custodial wallet that gives you complete control over your private keys and funds.
- Multi-currency support: This wallet allows you to store, send, and receive different types of cryptocurrency in one place.
- Easy to use: With an intuitive, clean, and user-friendly interface, Tezro is easy to use even for beginners.
- Full-featured application: Apart from being a secure wallet, Tezro also has a built-in messaging system, an escrow system, and a crypto exchange.
2. Exodus
Type: Software (Desktop & Mobile)
Features:
If you are a mainstream crypto enthusiast looking for a simple yet powerful wallet that supports a variety of assets, Exodus might be the right choice for you.
This desktop and mobile wallet offers a plethora of features that make it a user favorite. It supports over 145 blockchain assets, making it one of the most sought-after multi-currency wallets on the market.
Currently, this free bitcoin wallet is available for Windows, Linux, and Mac OSX for desktop users and Android and iOS for mobile users.
As a Hierarchical Deterministic (HD) wallet, Exodus uses a 12-word seed phrase to restore your private keys, allowing you to backup and encrypt your data.
The desktop version also offers to ShapeShift support, which allows for the instant conversion of one cryptocurrency into another without the need for a third-party exchange.
Exodus is one of the few wallets that also offers support for Trezor hardware wallets. This means that you can store your Exodus private keys on a Trezor device for increased security.
One of the criticisms of the Exodus wallet is that doesn’t have Two-factor Authentication (TFA) or multi-signature support. However, Exodus has two main reasons for not implementing these features.
The first is that allowing third-party services to hold your private keys goes against the ethos of decentralization. The second is that Exodus feels that both TFA and multi-signature introduce unnecessary complexity for the average crypto user.
Overall, the Exodus wallet is a great choice for mainstream cryptocurrency users looking for an easy-to-use yet powerful solution.
Benefits
- Allows easy linkage to decentralized finance (Defi) and exchanges: Exodus has partnered with some of the most popular Defi and cryptocurrency exchanges to offer users a one-stop solution for all their crypto needs.
- This wallet is integrated with Trezor hardware wallets: To ensure optimal security for your digital assets, Exodus allows you to store your private keys on a Trezor hardware wallet.
- The user interface is beginner-friendly: The user interface of the Exodus wallet is designed to be as user-friendly as possible, making it one of the best crypto wallets for beginners.
3. Trust Wallet
Type: Software-based Hot Wallet
Features
Trust wallet is one of the best best free crypto wallets available today. It was created by Viktor Radchenko in 2017 and has since become one of the most popular wallets in the space.
Trust wallet is a software-based hot wallet that is available for both iOS and Android devices. It is one of the most popular multichannel crypto wallets, with a support base of over one million assets. They include Ethereum-based tokens, Bitcoin, Binance BEP-2 tokens, and more.
Trust Wallet comes with enhanced versatility across a broad array of platforms and devices. This means that regardless of your device or operating system, you can still use Trust Wallet to manage your crypto funds with ease,
This wallet has an inbuilt DApp browser that allows users to access a range of decentralized apps directly from the wallet interface. This makes it one of the most user-friendly wallets in the space as you don’t need to exit the app to use a DApp.
If you are a new user, Trust Wallet allows you to migrate your current assets from another wallet into Trust Wallet with ease. All you need is your old wallet’s seed phrase and you can instantly access your funds in Trust Wallet.
If you love staking, this wallet has 12 built-in staking protocols that you can use to earn rewards on your favorite assets. These include Cosmos, BNB, Tezos, TRON, and more.
Security is always a top priority for Trust Wallet and they have implemented a number of security features to ensure that your funds are always safe. These include two-factor authentication, biometrics, and SSL encryption.
Benefits
- Easy to use: As a first time crypto user, you will find Trust Wallet to be one of the easiest wallets to use. The interface is very user-friendly and I was able to migrate my assets from another wallet with ease.
- Military-grade security: This wallet takes security very seriously and has implemented a number of features to ensure that your funds are always safe.
- Multi crypto wallet: Supporting over one million assets and multiple blockchains is not an easy feat but Trust Wallet has pulled it off seamlessly.
- Inbuilt staking protocols: If you love staking, this wallet has 12 built-in protocols that you can use to
4. Atomic Wallet
Type: Software (Mobile & Desktop)
Features:
This list of the best free crypto wallets cannot be complete without Atomic Wallet. The wallet is available as a desktop application for Windows, macOS, and Linux. It is also available as a mobile app for Android and iOS devices. Atomic Wallet supports over 500 cryptocurrencies and provides users with a built-in exchange.
This wallet allows users to exchange, swap, or convert crypto-based assets, hence providing a one-stop solution to users. Also, it offers rewards through its cashback and staking programs.
In case you run into a problem, the wallet has a 24/7 live chat support that will help you sort out the issues.
Atomic Wallet is a non-custodial wallet, which means that the private keys are stored on the user’s device. In case you lose your device or forget your password, you can use the 12-word seed phrase to recover your account.
Benefits
“Buy Crypto” feature: You can buy cryptocurrencies directly from the wallet using a card.
Atomic Swaps: The wallet supports atomic swaps, which allows you to exchange one cryptocurrency for another without the need for a third party.
Encrypted private keys: The private keys are stored in an encrypted format on the user’s device.
Intuitive: The wallet has a user-friendly interface that makes it easy to use.
5. Coinomi
Type: Multiplatform software (Desktop, Mobile, Web)
Features:
Supporting over 125 blockchains and 1770+ crypto assets, Coinomi is one of the most popular free wallets available.
This wallet is non-custodial, meaning that the user has complete control over their private keys. Therefore, in case the device is lost or stolen, the user’s funds can still be accessed.
Coinomi also offers a built-in exchange feature, allowing users to quickly and easily swap between different cryptocurrencies.
This wallet is Defi-ready, meaning that it can be used to participate in Defi protocols and platforms. Therefore, users can earn interest on their digital assets or take out loans.
This is a Hierarchical Deterministic Wallet (BIP44). This means that a single backup phrase can be used to restore the user’s funds on any other device. Also, new addresses are generated for each transaction, providing extra security.
Coinomi allows cold staking. This means that users can earn rewards for holding onto their cryptocurrency, without having to run a full node.
Its exclusive Native SegWit is a feature that allows for smaller transaction sizes, leading to lower fees. This works by separating the witness data from the transaction data, therefore reducing the size of each transaction.
Benefits
- Security: This wallet uses cutting-edge security features, making it one of the most secure wallets available.
- Ease of use: The user-friendly interface makes it easy for even beginners to use this wallet.
- Privacy: This wallet values user privacy and does not collect any personal data.
- Multilingual: This wallet is available in 25 different languages.
Frequently Asked Questions
Are Crypto Wallets Free?
Not all crypto wallets are free. However, all the wallets featured in this article are free.
Are There Any Free Bitcoin Wallets?
Yes! There are plenty of free Bitcoin wallets available. In fact, all the wallets outlined above are some of the best free bitcoin wallets.
What Is The Best Free Crypto Wallet App In 2023?
Honestly, there are so many great free crypto wallets out there that it’s hard to narrow it down to just one. The wallets outlined above have their fair share of pros and cons, so it really depends on your needs as to which one would be the best for you.
What Is the Best Free Crypto Wallet For iphone and iOS?
Overall, Tezro, Exodus, and Trust Wallet are both great free options for iPhone and iOS users. This is because they offer a great user experience, are easy to use, and have plenty of features.
What Is The Best Free Crypto Wallet For Android?
Tezro, Coinomi, Atomic Wallet, and Exodus are all great free wallets for Android users. They are easy to use and are certified by Play Protect as safe and secure.
Key Takeaways
- A free crypto wallet allows you to store your crypto by creating an account without no added fees.
- They are normally available through mobile and desktop versions.
- You should check whether they meet the safety requirements before downloading.
- Pick one of the wallets recommended and avoid the ones with too many ads.
Final Thoughts
The best free crypto wallets are made by companies that have a good reputation, are easy to use, and offer a variety of features. The wallets featured in this article are all great options for anyone looking for a free crypto wallet in 2023.
However, it is prudent to first analyze your needs, and then select a wallet accordingly. Look – since all these wallets are free, it doesn’t hurt to try all of them out and see which one you like the best.
Remember, Tezro has the best advice for you in the crypto world, so check out our blog section for more content.
