Decentralized finance (DeFi) provides access to the financial services and products readily available for use on the blockchain. However, to access these products, you will need a web 3 DeFi wallet. With the many wallets available for your crypto storage, you may be wondering which is the best wallet to use.
We have handpicked the best DeFi wallets that you can use on decentralized finance platforms.
11 Best DeFi Wallets
Here are the best DeFi wallets to try out in 2023:
#1. ZenGo
ZenGo is our number #1 DeFi wallet. Why? Because it is the most secure!
ZenGo is the only self-custodial wallet with no private key vulnerability. It is powered by MPC cryptography instead.
The ZenGo wallet is the most secure Crypto Wallet in the market thanks to their countless measures to keeping their customers money safe. Since the launch of the wallet in 2018 they have never been hacked and the wallets are always recoverable thanks to these 3 industry-pioneering technologies:
- MPC cryptography
- A built-in web3 firewall
- 3-factor-authentication recovery model
The ZenGo wallet is perfect for anyone who wants to store, buy, trade, send, stake, and receive crypto safely.
You can download ZenGo here and pay Zero fees on your first purchase!
#2. MetaMask
Metamask is the most well-known DeFi wallet available today. This wallet is excellent for managing, sending and receiving Ethereum (ERC20), and Binance Smart Chain (BEP20) based tokens. Additionally, it reinforces layer-2 solutions, such as Polygon.
One of the best things about this wallet is that it’s available through various platforms. You can access MetaMask by downloading it on either your iOS and Android smartphone or tablet. You can also access it through browser extensions on your laptop or desktop computer. Popular browsers like Brave, Chrome and Firefox offer these services.
#3. Trust Wallet
Trust Wallet supports a combination of cryptocurrencies up to about 4.5 million. It can trade and store almost any cryptocurrency from any blockchain. Like MetaMask, Trust wallet aims to provide a simple and easy-to-use interface. If you are a new user you can also access dApps and start using the products and services available.
The wallet also offers security features that keep your information and data secure. You can perform a quick and simple backup that ensures you don’t lose your cryptocurrency in case of a mistake. Trust Wallet is available on desktop, mobile, and web browsers like Chrome and Brave.
#4. Argent Wallet
Argent wallet is perfect if you are just getting started with decentralized finance. This is because it offers a beginner-friendly interface making it easy and quick to access DeFi. Additionally, the wallet is also available in over 25 languages.
Argent also provides security by offering features like biometric authentication, two-factor authentication, and a recovery phrase. These ensure that your data, information, and funds are safe and secure. Argent is available on both iOS and Android devices.
#5. Crypto.com Wallet
Crypto.com might be the DeFi wallet you’re looking for. The wallet gives you complete control over your private keys and crypto assets. This wallet also offers strong security and management for private keys.
The wallet also allows you to access various dApps on the platform. You can easily store, swap, or transfer crypto assets without needing a third-party. Crypto.com supports over 100 investments, including Ethereum-based ERC20 tokens.
#6. Coinbase Wallet
Coinbase Wallet supports numerous blockchain protocols and integrates with popular hardware wallets like Ledger Nano S. It also has fast transaction speeds and a user-friendly interface.
If you’re looking for a safe and secure decentralized wallet, coinbase is one of the best options. This wallet offers several security features, including multi-step verification and two-factor authentication. Additionally, it provides users with a backup recovery phrase to enable users to recover their funds in the event of a mistake or loss.
#7. Ledger Wallet
A ledger is a hardware wallet supporting the management and storage of Bitcoin, Ethereum, and any other crypto. Ledger is an ideal choice for those looking for a secure and reliable option to store their crypto funds.
Ledger also merges well with popular software wallets like MetaMask and Trust wallets, allowing you to manage your crypto assets easily. In addition, Ledger offers a mobile app for tracking your portfolio.
#8. Trezor Wallet
Trezor is another incredible hardware wallet if you are looking for a secure way to store your crypto. Trezor supports Bitcoin, Ethereum, and other popular digital currencies. Additionally, it can merge with popular software wallets like MetaMask, Coinbase Wallet, and Eidoo.
Like Ledger, Trezor also offers a variety of security features, including two-factor authentication and a PIN code. Additionally, Trezor offers a mobile app for tracking your portfolio.
#9. Guarda Wallet
Guarda wallet supports a variety of digital currencies, including Ethereum, Bitcoin, Litecoin, and more. The wallet also offers an in-wallet exchange for users to quickly and easily swap between virtual currencies.
Guarda offers multiple security features, including multi-step verification and two-factor authentication. Additionally, it has a backup recovery phrase for users to recover their funds in the event of a mistake or loss.
#10. Eidoo Wallet
Eidoo wallet is one the best wallets you can use. It provides access to DeFi products and services as well as interlinks with other digital currencies. Security features like multi-factor authentication and a recovery phrase ensure safety of your data. It features the following
- Access to different dApps and Ethereum based products.
- Multi-blockchain protocol support.
- Built-in exchange with fast transaction speeds
#11. Edge Wallet
Edge wallet is available on several platforms, like iOS, Android, Windows, and Mac. It *also offers an extension for the Google Chrome browser. The wallet makes it easy for you to store your crypto in one location.
You can also access DeFi products like lending and staking instantly from your wallet. Edge supports Ethereum-based ERC20 tokens and protocols, which makes it easy to use decentralized applications. The transactions are also fast with high speeds.
Conclusion
DeFi wallets are a fantastic way to transfer funds without any third party. Software wallets come encrypted and use many modern safety protocols. There’s a need to worry about safety, especially if they are web3-based. However, hardware wallets are more successful than crypto DeFi wallets altogether. This is because they provide access to all DeFi apps and are more secure since they are not exposed online.
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.
