7 Best Non-Custodial Crypto Wallets: The Complete List

Please fol­low and like us:
Pin Share

Stor­ing your dig­i­tal assets is an essen­tial part of your cryp­to invest­ment jour­ney, and non-cus­to­di­al wal­lets are becom­ing more preva­lent as the field of decen­tral­ized finance con­tin­ues to boom.

Non-cus­to­di­al wal­lets are dig­i­tal wal­lets that enable users to take full own­er­ship of their assets. The name (non-cus­to­di­al) comes from the fact that the wal­let itself doesn’t have cus­tody of your cryp­to but rather serves as an inter­face that enables you to eas­i­ly con­ve­nient­ly access it while also allow­ing third-par­ty integrations.

This is the main dif­fer­ence between cus­to­di­al and non-cus­to­di­al solu­tions – own­er­ship. On the oth­er hand – with cus­to­di­al wal­lets – it is the com­pa­ny that offers the ser­vices that safe­guards and keeps your cryp­to. For instance, cen­tral­ized cryp­tocur­ren­cy exchanges are often­times cus­to­di­ans, which means that they keep your cryp­to for you, and the pri­vate keys are not held by you.

This is where one of the most pop­u­lar say­ings in the indus­try comes into play – “not your keys – not your Bit­coin.” Of course, it can be extend­ed to every oth­er cryptocurrency.

Non-cus­to­di­al wal­lets allow you to retain full own­er­ship of your assets, and you are the one who needs to store your pri­vate keys. Of course, this comes with its risks and chal­lenges. If you choose to use a non-cus­to­di­al wal­let, you’re sole­ly respon­si­ble for pro­tect­ing your pri­vate keys. If for any rea­son you lose the keys, then you lose access to your funds, and there is noth­ing the wal­let provider can do to help you retrieve it.

Non-cus­to­di­al cryp­to wal­lets are not suit­able for any­one who can­not han­dle the sole respon­si­bil­i­ty of stor­ing and safe­guard­ing their pri­vate keys.

With that said, here are the top eight best non-cus­to­di­al cryp­tocur­ren­cy wal­lets as of 2022.

MetaMask

MetaMask
Meta­Mask

Meta­Mask is a vet­er­an in the brows­er exten­sions’ wal­let field, and it was launched in 2016 by the mar­ket-lead­ing blockchain tech­nol­o­gy com­pa­ny, Con­sen­Sys. Since then, it has grown to become the most pop­u­lar non-cus­to­di­al wal­let. This is large­ly because it was one of the only avail­able options dur­ing the mas­sive DeFi boom back in the sum­mer of 2020, which lat­er came to be known as the DeFi sum­mer. Over the past year, one of the main usages of Meta­Mask is the inte­gra­tion with the pop­u­lar mar­ket­place OpenSea, for buy­ing and sell­ing NFTs.

Meta­Mask allows users to cre­ate ERC-20-based wal­lets tokens, but it can also be inte­grat­ed to func­tion on oth­er EVM net­works such as the BNB Chain, Poly­gon, Opti­mism, and Arbi­trum. Addi­tion­al­ly, the cryp­to wal­let func­tions as a brows­er exten­sion that allows users to inter­act with decen­tral­ized apps (dApps) built on Ethereum and oth­er EVM-com­pat­i­ble networks.

It also has an in-house swap fea­ture that allows users to quick­ly exchange one token for anoth­er with­out access­ing a decen­tral­ized exchange (DEX).

Meta­Mask takes absolute­ly no own­er­ship or cus­tody of your seed phrase and pri­vate keys, pro­vid­ing you with com­plete sov­er­eign­ty over your assets.

On the down­side, Meta­Mask only pro­vides sup­port for the Ethereum blockchain and net­works built using the Ethereum Vir­tu­al Machine (EVM). This means that you can­not use Meta­Mask to store cryp­tocur­ren­cies such as Bit­coin (BTC) and Solana (SOL).

Coinbase Wallet

As the name sug­gests, Coin­base Wal­let was cre­at­ed by the lead­ing US-based cryp­tocur­ren­cy exchange Coin­base and is quick­ly grow­ing to be a pre­ferred wal­let for a range of reasons.

First, Coin­base Wal­let offers a famil­iar user expe­ri­ence to exist­ing solu­tions, mak­ing the tran­si­tion very easy for those who already have a self-cus­tody wal­let. At the same time, how­ev­er, it car­ries the rep­u­ta­tion of the Coin­base brand, which – with almost 90 mil­lion users across the world – is a fac­tor to consider.

The wal­let was launched in 2018 and has become wide­ly rec­og­nized as one of the most easy-to-use self-cus­tody solu­tions in the market.

coinbase-wallet-min
Coin­base Wallet

Coin­base Wal­let sup­ports Ethereum and all EVM-com­pat­i­ble blockchains and can be installed as a Chrome exten­sion just like Meta­Mask. Unlike MM, how­ev­er, the Coin­base Wal­let exten­sion also sup­ports Solana and SPL tokens.

Coin­base Wal­let also comes with a ful­ly-devel­oped mobile appli­ca­tion that is very con­ve­nient, quick, and easy to install. Beyond a seam­less user expe­ri­ence, the mobile app also adds sup­port for hold­ing some major non-EVM com­pat­i­ble tokens such as Bit­coin, Doge­coin, Lite­coin, Rip­ple, and more.

Coin­base Wal­let oper­ates inde­pen­dent­ly of its par­ent com­pa­ny in a way that it doesn’t require any sort of reg­is­tra­tion, KYC, or a Coin­base account. If you do wish, you have the option of con­nect­ing your Coin­base Wal­let to a Coin­base cus­to­di­al account, pro­vid­ing users of Coinbase’s cen­tral­ized exchange with the option to quick­ly trans­fer assets from one to anoth­er. Again, this is 100% optional.

Trust Wallet

Trust Wal­let is an open-source and decen­tral­ized cryp­to wal­let appli­ca­tion that offers users a wide range of options to buy, sell, and store dig­i­tal assets.

Trust Wal­let cur­rent­ly pro­vides sup­port for over 35 blockchains and more than 160 dif­fer­ent dig­i­tal assets. The wal­let has in-house buy, swap, and exchange fea­tures that allow users to eas­i­ly trade one cryp­to asset for anoth­er or buy cryp­to with fiat.

Users can also inter­act with dapps on Ethereum and 14 oth­er EVM-com­pat­i­ble ecosys­tems with­out com­pro­mis­ing secu­ri­ty and pri­va­cy. The wal­let is avail­able on iOS, Android, and desk­top devices.

In July 2018, Trust Wal­let was pur­chased by the lead­ing cryp­tocur­ren­cy exchange, Binance.

trust-wallet-min
Trust Wal­let

MyEtherWallet

MyEther­Wal­let (MEW) is a vet­er­an in the space, and it’s geared more towards users with a tech­ni­cal back­ground.It’s a free, client-side inter­face that’s designed to help users with the Ethereum blockchain. It’s very easy to use, albeit a bit more tech­ni­cal com­pared to the rest in the list.

Anoth­er thing to con­sid­er is that it’s entire­ly open source. Much like a lot of the oth­er wal­lets on our list, MEW also sup­ports addi­tion­al Ethereum-com­pat­i­ble net­works. These include Ethereum Clas­sic (ETC), the BNB Chain, Poly­gon, and so forth.

MEW is also designed to deliv­er cross-chain swaps capa­bil­i­ties where users can swap between Ether and Bit­coin, Lite­coin, or Doge­coin. It works with some decen­tral­ized exchange aggre­ga­tors such as 1inch to deliv­er the best rates if you decide to swap from the inter­face directly.

MyEther­Wal­let also has an app ver­sion to its web wal­let, a detailed guide can be found here.

myether2
MEW

Coinomi

Coino­mi is anoth­er pop­u­lar choice with a rich his­to­ry. This mul­ti-cur­ren­cy wal­let was launched in 2014, mak­ing it one of the old­est non-cus­to­di­al wal­lets in the market.

It sup­ports about 125 net­works and more than 1,770 dig­i­tal assets, some of which can be trans­ferred through Seg­Wit to make trans­ac­tions lighter. Coino­mi pro­vides users with direct access to dApps, mul­ti­ple Web3 projects, its in-house exchange, and direct token swaps.

Coino­mi has tight secu­ri­ty fea­tures as well and is avail­able to a wide range of users from mul­ti­ple oper­at­ing sys­tems and devices, includ­ing Android, iOS, Win­dows, macOS, and Lin­ux. It is also avail­able in eight dif­fer­ent languages.

Exodus

Exo­dus is a mul­ti-cur­ren­cy, non-cus­to­di­al wal­let that is designed to run on Win­dows, Lin­ux, Mac, as well as Android, and iOS devices. The wal­let is pri­mar­i­ly focused on users who have nev­er inter­act­ed with cryp­to before, hence it offers a slick, easy-to-learn interface.

Exo­dus is designed to pro­vide port­fo­lio man­age­ment and cryp­to exchange ser­vices. Thus, users can store, man­age, and trade cryp­tocur­ren­cies from a sin­gle inter­face. It sup­ports more than 130 dif­fer­ent cryp­tocur­ren­cies, includ­ing BTC, ETH, BNB, SOL, and DOGE.

Anoth­er fea­ture of the wal­let is that it offers users a risk-free way to make mon­ey off their cryp­to. When users make cryp­to-to-cryp­to pur­chas­es, Exo­dus gives them a per­cent­age of the prof­it. The reward is sent direct­ly to users’ accounts.

BRD

While some non-cus­to­di­al wal­lets are rid­dled with exten­sive onboard­ing process­es and com­plex user inter­faces, BRD believes in simplicity.

For­mer­ly known as Bread­Wal­let, BRD’s design is intu­itive and suit­able for new investors. In fact, the wal­let has a built-in tuto­r­i­al for investors who are just get­ting start­ed in the cryp­to space.

BRD sup­ports most of the top cryp­tocur­ren­cies in the mar­ket, includ­ing BTC, ETH, BCH, XRP, and all ERC-20 stan­dard tokens. It also accepts pay­ments for cryp­to pur­chas­es in over 35 dif­fer­ent fiat currencies.

Despite apply­ing a sim­ple design to its inter­face, BRD’s secu­ri­ty mea­sures are all but sim­ple. It employs a host of advanced secu­ri­ty fea­tures that are geared toward pro­tect­ing users’ assets and pri­vate information.

In addi­tion to its non-cus­to­di­al fea­tures, which allow only wal­let own­ers to con­trol their funds, BRD uti­lizes the Sim­pli­fied Pay­ment Ver­i­fi­ca­tion (SPV). The SPV con­nects users direct­ly to the Bit­coin net­work, improv­ing the speed of trans­ac­tions and enhanc­ing secu­ri­ty since there are no servers to hack.

The wal­let has oth­er notable secu­ri­ty fea­tures, includ­ing AES hard­ware encryp­tion, code sig­na­tures, touch ID, and a 6‑digit PIN for extra security.

What is the Best Non-Custodial Crypto Wallet for You?

Choos­ing the best non-cus­to­di­al cryp­to wal­let that is right for you can be a hard nut to crack, con­sid­er­ing the many options avail­able. How­ev­er, it is impor­tant to con­sid­er cer­tain fac­tors before decid­ing which wal­let is best suit­ed for your needs and lev­el of experience.

Are you an expert or new to cryp­to? Do you want a wal­let with an in-house swap fea­ture and a dapp brows­er? Do you want a wal­let that works best on mobile, desk­top, or both? What type of cryp­tocur­ren­cies are you look­ing to store and invest in?

The answers to the ques­tions above will help you select a cryp­to wal­let that best suits your needs. Remem­ber, though, that with non-cus­to­di­al wal­lets, you’re sole­ly respon­si­ble for the safe­ty of your funds, so secu­ri­ty should always be at the top of your pri­or­i­ty to ensure that you safe­guard your assets at all times.

This is why you should def­i­nite­ly check out our exten­sive guide on cryp­to secu­ri­ty.

The Pros and Cons of Non-Custodial Cryptocurrency Wallets

Self-cus­tody wal­lets come with a host of ben­e­fits that a lot of cryp­tocur­ren­cy-native users pre­fer, but they also have their dis­ad­van­tages. All of these are entire­ly sub­jec­tive and depend on the user’s pref­er­ences, as well as tech­ni­cal background.

Pros: 

  • Com­plete con­trol over pri­vate keys
  • Abil­i­ty to inter­act with native DeFi applications
  • No KYC or any kind of ver­i­fi­ca­tion process

Cons: 

  • A lot more chal­leng­ing to use com­pared to cus­to­di­al solutions
  • Greater risk: los­ing or mis­tak­en­ly record­ing your seed phrase means you can nev­er access your funds again
SPECIAL OFFER (Spon­sored)

Binance Free $100 (Exclu­sive): Use this link to reg­is­ter and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Spe­cial Offer: Use this link to reg­is­ter & enter POTATO50 code to receive up to $7,000 on your deposits.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *