10 Best Decentralized Crypto Wallets for 2024

Whether you’re a novice or an experienced investor, keeping your cryptocurrency in a decentralized wallet is crucial. You retain full control of the wallet, meaning third-party trust or authorization isn’t required. In other words, you become your own banker, the only person with access to the wallet’s private keys.

But which decentralized crypto wallets are the best in 2024? Read on to discover the 10 leading decentralized wallets for usability, security, fees, supported networks, and features.

The Top Decentralized Wallets Ranked

Here are the best decentralized crypto wallets available on the market:

1. Best Wallet – The Overall Best Decentralized Wallet for Crypto Investors
2. Zengo – Free Mobile Wallet App Without Seed Phrase Vulnerabilities
3. Exodus – Popular Wallet for Desktop Users With Windows, Mac, or Linux
4. ELLIPAL Titan 2.0 – Best Option to Safely Keep Coins in Cold Storage
5. Ledger Nano X – Leading Hardware Wallet With Unmatched Security
6. Trezor Model One – Reliable Self-Custody Crypto Cold Wallet for Just $59
7. OKX Wallet – Prime Decentralized Wallet for Storage, Trading, and Earning
8. Bybit Wallet – Web 3.0 Wallet Supporting Over 10,000 Tokens and 20 Networks
9. Blockstream Jade – Open-Sourced Bitcoin Hardware Wallet With Air-Gapped Security
10. NGRAVE – Ultra-Clear Touchscreen Wallet for Crypto Novices

Best Decentralized Crypto Wallets Reviewed

Let’s review the best decentralized crypto wallets listed above. Continue reading to choose the right wallet for secure crypto storage.

1. Best Wallet – The Overall Best Decentralized Crypto Wallet for 2024

Best Wallet is a decentralized wallet that comes as a mobile app. It supports iOS and Android devices, and it takes seconds to set up. Users need to choose a PIN and record their 12-word backup passphrase. Biometrics and two-factor authentication (2FA) provide additional safeguards.

This user-friendly wallet currently supports three networks: Ethereum, BNB Chain, and Polygon. Bitcoin and other popular networks will be added in future development phases. Receiving and storing tokens is free, and there are no extra charges when transferring funds. Best Wallet also offers a decentralized exchange. 

This means users can swap tokens without leaving the app. Swaps are executed in real-time via partnered liquidity providers. Other upcoming features include a browser extension, staking tools, and an airdrop hub for new crypto launches. Best Wallet also provides a fiat on-ramp, enabling users to buy crypto coins with a debit/credit card.

Pros:

• The overall best crypto DeFi wallet
• Store any tokens on the Ethereum, BNB Chain, and Polygon networks
• Free, user-friendly app for iOS and Android
• Offers decentralized token swaps without leaving the wallet
• Robust security features, including biometrics
• Enables users to buy cryptocurrencies with a debit/credit card

Cons:

• Some features are still being developed, such as staking and airdrops
• Bitcoin, Solana, and other popular networks aren’t currently supported

2. Zengo – Free Mobile Wallet App Without Seed Phrase Vulnerabilities

Zengo offers a free yet highly secure decentralized wallet app. It’s a great option for beginners, considering Zengo comes without seed phrase vulnerability. This is because Zengo doesn’t use traditional private keys. Instead, the wallet’s credentials are backed by MPC security.

This means the credentials are split and hosted on multiple unconnected servers. So, if one of these servers is compromised, the hacker wouldn’t be able to access the wallet. Moreover, instead of backup passphrases, wallet recovery is accessed via multi-factor authentication, including facial biometrics and email.

Zengo, which is used by over 1 million users, supports some of the best cryptocurrencies to buy. This includes Bitcoin, Dogecoin, Ethereum, BNB, and Polygon. Custom tokens on supported networks can also be added. Additional features include token swaps, fiat on-ramp services, and 24/7 customer support.

Pros:

• One of the best DeFi crypto wallets for MPC security
• Wallet credentials are split on multiple unconnected servers
• Uses multi-factor authentication for wallet recovery
• Supports Bitcoin, Ethereum, Dogecoin, and other popular networks
• Comes with in-built token swaps and a fiat on-ramp

Cons:

• Doesn’t come with staking tools
• Doesn’t support Solana, Ripple, or Cardano

3. Exodus – Popular Wallet for Desktop Users With Windows, Mac, or Linux

Founded in 2015, Exodus is an established wallet provider that offers decentralized storage. While other device types are also supported, it’s one of the best options for desktop users. Exodus offers desktop software for Windows, Mac, and Linux.

It also offers a browser extension for Chrome. Exodus is free to download, and the interface is ideal for beginners. More than 50 blockchains are supported, making Exodus a great choice for diversified portfolios. Some of the blockchains supported include Bitcoin, BNB Chain, Ethereum, Solana, Monero, and Dogecoin.

Custom tokens can also be added, which will come in handy when investing in new cryptocurrencies. Exodus offers real-time prices on coins being stored – simply select your preferred currency via the settings. We also like that Exodus supports in-wallet staking tools with competitive yields. For instance, Ontology APYs are over 17%.

Pros:

• One of the best DeFi wallets for desktop users
• Supports Windows, Mac, Linux, and browser extensions
• Also offers a mobile app for iOS and Android
• Displays real-time crypto prices in your preferred currency
• Established in 2015

Cons:

• Staking is limited to specific cryptocurrencies
• Advanced features may be complex for beginners

4. ELLIPAL Titan 2.0 – Best Option to Safely Keep Coins in Cold Storage

ELLIPAL Titan 2.0 is the safest option on this decentralized wallet list. It comes as a hardware device that’s never connected to the internet. This means your crypto coins remain in ‘cold storage’ – so you won’t need to worry about online hacks or phishing attempts.

Unlike other hardware wallets, ELLIPAL Titan 2.0 doesn’t require a USB or Bluetooth connection when transferring funds. This adds an extra layer of security – especially if you’re holding a large balance. To transfer coins to another wallet, users must scan a QR code from the ELLIPAL device. The scan should be made via the ELLIPAL app for Android or iOS.

ELLIPAL Titan 2.0 supports over 10,000 coins and tokens from the most popular blockchain ecosystems. This includes Bitcoin, Ethereum, Litecoin, TRON, Bitcoin Cash, and Solana. However, ELLIPAL Titan 2.0 might not be suitable if you’re on a budget – it retails for $169 on the manufacturer’s website. This is in addition to shipping fees.

Pros:

• The most secure decentralized wallet for 2024
• Uses air-gapped security to avoid external connections
• Transactions are authorized by scanning a QR code
• Supports 41 blockchain networks
• Comes with in-built token swaps and staking

Cons:

• Only 5 staking coins are supported
• Costs $169 plus shipping fees

5. Ledger Nano X – Leading Hardware Wallet With Unmatched Security

Ledger Nano X is a top-tier hardware wallet known for its outstanding security features. This compact device, resembling a USB stick, is easy to store and transport. It remains offline at all times, minimizing the risks of hacking attempts.

Additionally, transactions must be authorized on the device by entering a 4-8 digit PIN. Users can set up transactions via the Ledger app, which requires either a USB type-C or Bluetooth connection. The Ledger Nano X also includes a backup passphrase, allowing users to recover their wallet if it is lost, damaged, or stolen.

Ledger Nano X is ideal for those with diverse crypto portfolios. It supports a wide range of blockchain networks, including Bitcoin, Ripple, BNB Chain, Solana, Ethereum, Cardano, Avalanche, Dogecoin, Polkadot, and TRON. The Ledger Nano X is priced at $149, though a more affordable $79 version with fewer features is also available.

Pros:

• Popular hardware wallet resembling a USB stick
• Transactions must be authorized with a 4-8 digit PIN
• Backup passphrase for wallet recovery
• Price includes shipping
• Supports major meme coins like Dogecoin

Cons:

• Priced at $149, which might be steep for some budgets
• Not as secure as air-gapped wallets

6. Trezor Model One – Reliable Self-Custody Crypto Cold Wallet for Just $59

The Trezor Model One is another excellent hardware wallet option, notable for its affordability and security. Retailing at just $59 on the manufacturer’s website (excluding shipping fees), it is one of the most cost-effective solutions for secure crypto storage.

Like other hardware wallets, the Trezor Model One provides offline storage. Transactions require a PIN to be entered on the device, ensuring security even if the device is lost or stolen. Wallet funds can be recovered using a backup passphrase, provided it is stored safely.

While the Model One supports fewer blockchain networks than other Trezor models, it includes Bitcoin, Ethereum, Bitcoin Cash, Stellar, BNB Chain, and Dogecoin. Support for notable networks like Solana, Cardano, and Ripple is absent.

Pros:

• One of the most affordable cold storage wallets for Bitcoin
• Also supports Ethereum, Bitcoin Cash, and other popular coins
• Priced at just $59 on the manufacturer’s website
• High security with straightforward wallet recovery
• Easy staking of cryptocurrencies

Cons:

• High shipping fees depending on location
• No support for Solana or Ripple

7. OKX Wallet – Prime Decentralized Wallet for Storage, Trading, and Earning

The OKX Wallet is a robust option for active crypto investors. It features a bridge aggregator that connects to numerous Web 3.0 applications, enabling users to trade thousands of coins and tokens directly within the wallet.

Users always get the best price based on trading volume, and can earn competitive yields on their idle crypto assets. The wallet provides information on supported staking pools based on APY and total value locked (TVL). Liquidity farming is also supported, often offering double-digit yields.

For storage, OKX Wallet is secure and completely decentralized. It is available as desktop software for Windows and Mac, a mobile app for iOS and Android, and a browser extension for Chrome. The wallet also features MPC security for an added layer of protection, eliminating single points of failure in private key storage.

Pros:

• Supports Windows, Mac, Android, iOS, and Chrome
• Optional MPC security for enhanced safety
• Supports over 80 blockchain networks
• Great for earning yields on idle tokens
• In-wallet token swaps from over 400 liquidity providers

Cons:

• No fiat off-ramp for cash withdrawals
• Swap fees are included in the exchange rate

8. Bybit Wallet – Web 3.0 Wallet Supporting Over 10,000 Tokens and 20 Networks

Bybit, known for its leverage and margin trading exchange, also offers a decentralized wallet app for iOS and Android. A browser extension for Chrome is available as well. The Bybit Wallet utilizes seedless phrases and MPC technology, making it beginner-friendly and reducing remote hacking risks.

The wallet supports over 10,000 coins and tokens across more than 20 networks, and includes NFTs from multiple chains. It also connects to Web 3.0 applications from ecosystems like Solana and Mantle, including decentralized exchanges, staking protocols, and NFT marketplaces.

Bybit Wallet offers crypto airdrops and early access to initial direct offerings (IDOs). Additionally, the wallet connects directly to Bybit’s centralized exchange, which supports margin products with leverage up to 125x.

Pros:

• Free decentralized wallet for iOS, Android, and Chrome
• Seedless phrases via MPC technology
• Supports thousands of crypto assets from over 20 networks
• Access to new IDOs and crypto airdrops
• Connect to Bybit exchange for up to 125x leverage

Cons:

• No desktop software for Windows or Mac
• Browser extension has a 2.6/5 rating on the Chrome Web Store

9. Blockstream Jade – Open-Sourced Bitcoin Hardware Wallet With Air-Gapped Security

Blockstream Jade is an open-sourced hardware wallet, which is an important feature for many crypto investors as it ensures transparency of the wallet’s software code. This allows the community to identify potential vulnerabilities.

Blockstream Jade is an air-gapped hardware wallet, meaning transactions are authorized by scanning a unique QR code rather than using Bluetooth or USB connections. While it is a secure decentralized wallet, it only supports Bitcoin, which means investors with diverse portfolios may need another option.

Nonetheless, Blockstream Jade retails for just $64.99, making it an affordable option for long-term storage. Shipping charges vary depending on the delivery country. Blockstream Jade focuses purely on long-term storage, so it does not include staking, fiat on-ramp services, or other popular features.

Pros:

• Affordable hardware wallet for storing Bitcoin
• Strong security features including air-gapped technology
• Compatible with the Lightning network for fast Bitcoin transfers
• Open-sourced code for enhanced transparency

Cons:

• Only supports Bitcoin
• Shipping fees vary and are displayed at checkout

10. NGRAVE – Ultra-Clear Touchscreen Wallet for Crypto Novices

Another top-rated hardware wallet in this list is NGRAVE. Unlike other hardware wallets, NGRAVE comes as a touchscreen device. It features a 4-inch ultra-clear touchscreen, making it easy for beginners to use, just like a small smartphone.

Additionally, NGRAVE provides air-gapped security, meaning it doesn’t require Wi-Fi, Bluetooth, or USB connections. Instead, outgoing transactions are signed using unique QR codes, ensuring the wallet’s private keys remain offline. An innovative feature of NGRAVE is how it secures backup passphrases.

Users can order the GRAPHENE accessory with their NGRAVE wallet, allowing them to engrave passphrases on stainless steel. The main drawback of NGRAVE is its price. The touchscreen wallet retails for $398, and if you also want the GRAPHENE stainless steel, the total cost is $498. Therefore, NGRAVE is mainly suitable for substantial crypto holdings.

Pros:

• High-end hardware wallet with a 4” touchscreen
• No need for external connections like USBs, Bluetooth, or Wi-Fi
• Supports Bitcoin and 14 other popular altcoin networks
• Users can store backup passphrases on stainless steel

Cons:

• High price tag of $398 plus shipping fees

How We Ranked These Decentralized Wallets

We’ve ranked the best decentralized wallets on the market by focusing on several core features and factors:

Complete Decentralization – All the wallets listed provide a fully decentralized experience. This means only the wallet user has access to the private keys, and users can send and receive funds without needing approval from a third-party custodian, giving users full control over their crypto investments.

Security – Security features vary depending on the type of wallet. Hardware wallets are generally the most secure since their private keys remain offline. These wallets can also include MPC and air-gapped security. Software wallets may offer features such as two-factor authentication and biometrics.

Supported Coins – We prioritized wallets that support a wide range of cryptocurrencies, including Bitcoin, Ethereum, BNB, and Solana. Preference was given to wallets that support custom tokens on each network, such as ERC-20 tokens on Ethereum.

Fees – We included both free software wallets and hardware wallets with varying price points to cater to budget-conscious investors. For example, the Trezor Model One costs just $59, while the NGRAVE wallet retails for $398. We also considered fees for additional features like token swaps, staking, and fiat purchases.

User-Friendliness – Some wallets are ideal for beginners, requiring little to no experience in crypto storage. We also included wallets suited for intermediate and advanced users to ensure all skill levels are catered for.

Device Type and Operating Systems – We included wallets for all device types, including desktop software, mobile apps, and browser extensions. The most popular operating systems covered are Windows, Mac, Linux, Android, and iOS.

Benefits of DeFi Crypto Wallets vs. Centralized Wallets

This section explores the key benefits of using a decentralized crypto wallet.

Make Transfers Without Third-Party Approval

One of the main functions of a crypto wallet is to send and receive coins. The process differs depending on whether the wallet is centralized or decentralized.

For instance, if you’re using a centralized wallet from Coinbase, Binance, or another popular exchange:

1. You want to transfer Bitcoins from the exchange to another wallet.
2. You need to log into your account, request a withdrawal, and wait for the exchange to approve the transfer.
3. The Bitcoins won’t reach the destination wallet until approval is received, which could take minutes, hours, or days.
4. Delays can occur for various reasons, such as a request for KYC documents.

In contrast, with a decentralized wallet:

1. You simply provide the destination address and authorize the transfer (e.g., by entering a PIN or providing biometrics).
2. The transfer is approved automatically, and the Bitcoins are received in about 10 minutes.

Build Wealth and Become Your Own Bank

Decentralized crypto wallets allow users to become their own bank, with no reliance on custodians and intermediaries. For example, if you have $5,000 worth of Ethereum in a crypto exchange account, only the exchange has access to the wallet’s private keys. If the exchange is hacked or goes bankrupt, your Ethereum could be lost forever.

In contrast, with a decentralized wallet, you are the only person with access to the private keys. Even if the wallet provider faces financial issues, your crypto assets remain safe. Your wallet balance can’t be frozen, nor can your account be suddenly closed without explanation.

Access Web 3.0 Products On-Chain

Many decentralized wallets connect with Web 3.0 ecosystems, allowing users to access on-chain products without third-party intermediaries. For example, if you hold BNB and want to swap it for Ethereum, you can use a decentralized wallet to complete the transaction without relying on centralized exchanges.

Decentralized Wallets are Anonymous

Decentralized wallets offer an anonymous experience. You can download and install the wallet without providing personal information. Transactions are associated with a wallet address rather than your identity. In contrast, most centralized wallets are backed by exchanges that require KYC processes, linking transactions to your personal identity.

Types of Decentralized Crypto Wallets

Decentralized crypto wallets come in two main types: software wallets and hardware wallets. Here are the key differences:

Software Wallets

Software wallets are typically free to download and install. Supported device types and operating systems depend on the wallet provider. For example, Best Wallet is available as a mobile app for iOS and Android, secured by facial biometrics.

Some software wallets are designed for browser extensions. Security is weaker compared to mobile wallets, as they’re only secured by a password. That said, browser-based wallets are popular with active crypto traders, as they easily connect with exchanges.

Another option is to download a desktop software wallet. These are often designed for Windows and Mac, although some providers also support Linux. Desktop wallets often come with two-factor authentication, meaning access also requires a secondary device.

Nonetheless, all software wallets are exposed to internet threats such as hacking attempts, viruses, and phishing scams. A simple mistake like clicking a suspicious link can result in a wallet breach. Therefore, those with a safety-first mindset might be more suited to a hardware wallet.

Hardware Wallets

Hardware wallets are the safest way to store crypto coins. Ideal for long-term investors and those holding large balances, hardware wallets are a must. Unlike software wallets, they’re never connected to the internet. This is known as ‘cold storage,’ which eliminates virtually all hacking-related risks.

Additionally, transactions must be confirmed directly on the hardware device. This often requires a PIN. Some hardware wallets use air-gapped security, which avoids the need for external connections like Bluetooth—another solid safeguard.

Even if stolen, hardware wallets remain secure because they come with a backup passphrase, usually a string of 12-24 words. Entering the passphrase on another wallet (software or hardware) will recover the funds, leaving the thief with a worthless device.

Conclusion

Choosing the right decentralized crypto wallet is crucial for securing your digital assets and maintaining full control over your investments. With options ranging from user-friendly software wallets like Best Wallet and Zengo to highly secure hardware wallets like Ledger Nano X and NGRAVE, there’s a wallet for every type of investor. These wallets offer robust security features, support for a wide range of cryptocurrencies, and innovative solutions like air-gapped security and MPC technology. As the world of decentralized finance continues to evolve, having a reliable and secure wallet is more important than ever for participating in the growing crypto ecosystem.