Best DeFi wallets for 2023

Decentralized finance is a fairly new type of financial instrument. Which opens a lot of opportunities for crypto-enthusiasts and allows secure storage of cryptocurrencies inside the blockchain. Based on the features and characteristics of DeFi wallets, we will help you choose a wallet specifically for your preferences in using DeFi services.

Top 5 DeFi Wallets

1. Metamask

Metamask is the most functional and extensively used DeFi wallet among users. Metamask supports all coins in the ERC-20 network and was originally built on the Ethereum blockchain. However, as the company grew, the wallet began to support dozens of other popular blockchains such as: Polygon, BSC, Avalanche, Fantom, Optimism and many others. To work with them, you need to add a network in the application itself. Metamask is provided as a browser extension and can also act as a mobile application for Android and iOS devices. Metamask has a fairly simple and intuitive interface, which is also suitable for those who are new to cryptocurrencies.

Why we chose it?

Metamask serves as a bridge to access decentralized finance that supports a host of DeFi platforms, the most popular being: 1inch, Uniswap, Curve, PancakeSwap and many more. Mobile application Metamask has a built-in WEB browser, which allows you to easily connect to DeFi platforms. Also, Metamask has its own decentralized platform with which you can exchange cryptocurrency inside the wallet itself. The exchanger inside Metamask has a customization and anti-slippage feature, allowing you to get the best price on the market with a fairly reasonable commission.

Inside the app, Metamask provides the possibility of several methods of depositing the wallet, which is quite convenient for users. In addition, using Metamask, is one of the most popular methods of storing NFT, as the wallet supports the main ERC-761 network and many more third-party networks on which NFTs are available.

How to get a Metamask wallet?

To start using Metamask, you need to download its extension in your browser and complete an easy registration, making sure to save the seed-phrase. And if you plan to use the wallet on a mobile device, you need to download it from the App Store or Google play, repeating the same steps.

2. Trezor

Trezor is one of the most secure cold wallets in the world that allows you to connect to DeFi platforms. Unlike the wallets provided in this article, Trezor is a physical device that stores private keys without constant access to the Internet. Thus, it is considered a more reliable option for storing large amounts of cryptocurrency. Trezor supports more than 1,500 crypto assets, including some of the most popular DeFi-platform coins. Trezor has two devices, the Trezor Model One, and the more advanced Trezor Model T touch device.

Why we chose it?

Trezor can be connected to a large number of hot wallets, as well as many dApps. To use the features of dApps or hot wallets by storing cryptocurrency on a Trezor cold wallet, you must connect it to any of the Trezor-supported applications. Pre-connect the hardware wallet with a USB wire to your computer. After that, you can safely store your assets and use the many features of the Trezor app.

In addition, Trezor also has its own browser and desktop application. To work with the Trezor application, you need to download the client from the official site to your computer. After that you need to connect the device with a USB wire to your computer, following the instructions.

If you plan to use the wallet in a browser, you need to go to the Trezor web page. You can also find it on the official website, and in the same way connect the wallet to the DeFi app via a USB wire. After that you can make financial transactions using the convenient interface of the application.

How to get a Trezor wallet? 

To start using Trezor, you have to order it from the official site, the minimum cost of wallets starts from $69 for the basic version. After that, you need to configure your device following the instructions, making sure to save the seed-phrase.

3. Trust wallet

Trust wallet is one of the most popular DeFi wallets supported by leading crypto exchange Binance. Trust wallet is famous for supporting a large number of coins and more than 50 blockchains, including the most popular ones: Ethereum, BSC, Polygon, Bitcoin, Solana and many more. This wallet provides a convenient and intuitive mobile application, with an extensive set of DeFi tools. Also, you can store non-exchangeable NFT tokens on popular blockchains that the app supports.

Trust wallet is definitely suitable for cryptocurrency novices. With the support of leading exchange Binance, the app provides educational content on coins, allowing users to learn more about any cryptocurrency to invest in. 

Why we chose it?

Trust wallet is integrated with popular crypto exchanges, through which you can fund your wallet directly by connecting it to the exchange that suits you. Additionally, you can also fund it via bank card or directly from an exchanger. Thanks to the integration of Binance DEX into Trust Wallet, the wallet application itself allows you to use the functions of the exchange. Namely, to quickly and securely exchange digital assets with a user-friendly interface.

Besides that, Trust wallet has a built-in WEB browser, thanks to which you can be connected to a huge number of supported DeFi platforms. Thus, you can meet your needs much more conveniently and with more functionality than other wallets. In addition, you can invest your coins into staking in the application itself, thus earning income on the 11 coins provided. 

How to get a Trust wallet? 

To start using Trust wallet you need to download the app on your Android or IOS mobile device. With a recent innovation, you can also use the wallet on your computer by downloading an extension to your browser. After that, you need to go through an easy registration process, which is to save your seed-phrase and put a password on the app. If you want to further secure your assets, you can use two-factor authentication to access the wallet.

4. Coinbase Wallet

Coinbase Wallet is a DeFi wallet, one of the most famous exchange in the world Coinbase. Coinbase Wallet supports wallet operation both on the computer, namely it can be an extension for the browser, and on any mobile device Android or Iphone. The wallet supports over 100 thousand cryptocurrencies and 5 most popular blockchains. The wallet also integrates tokens in the ERC-721 network, which allows you to store NFT tokens that are not interchangeable. 

Why we chose it?

Coinbase Wallet is great for beginners and advanced users alike. The wallet app has a user-friendly and intuitive interface along with a vast feature set inside it. Coinbase Wallet covers all of the basic DeFi consumer functions, which means that within it you can buy, sell, send, and receive cryptocurrency quickly and securely. In addition, Coinbase Wallet allows you to connect to decentralized sites in various popular networks. The mobile application has a built-in web-3 browser, which also allows users of mobile devices to connect to DeFi protocols.

Coinbase Wallet is considered a fairly safe crypto wallet, as it is supported by Coinbase, one of the largest and most reputable exchanges in the world. It is important to distinguish the company’s products, Coinbase is a centralized exchange where you can buy, trade, and do a lot of other functions with cryptocurrency. In turn, Coinbase wallet is a secondary product of the company, namely a hot crypto wallet, which is designed for more secure storage of cryptocurrency.

How to get a Coinbase Wallet?

In order to start using a Coinbase Wallet, you need to choose a device on which it will be more convenient for you to work. Namely, on your computer, in a browser, or on your smartphone. After that, you need to download it from the official website by selecting the platform suitable for you.

5. Ledger Nano S

Ledger Nano S is one of the safest hardware crypto wallets that supports many decentralized exchanges and protocols. Ledger Nano S looks like a two-button flash drive, with a small monitor and a micro-USB connector. This crypto wallet is easy to connect to a computer, and can be integrated with mobile devices via Bluetooth, unlike Trezor. Ledger Nano S supports more than 5500 cryptocurrencies, as well as supported by a huge number of popular DeFi protocols. Also, this hardware wallet can store non-exchangeable tokens safely, which is definitely suitable for connoisseurs of expensive digital art.

Why we chose it? 

Ledger Nano S is a cold wallet, which stores keys without constant access to the Internet, thus it is invulnerable to hacker attacks, and definitely suitable for safe storage of cryptocurrency. In addition, the integration of this wallet supports a lot of both centralized and decentralized exchanges. Thanks to their functionality, you can perform any interaction with cryptocurrency almost without losing the security of the wallet. 

However, in daily use, it can cause inconveniences. You constantly need to connect it to your mobile or desktop device for full access to assets, which is less convenient than hot wallets allow. Plus, the Ledger Nano S costs $69, which, in turn, isn’t something every user can afford. However, if you plan to use DeFi services with large sums and are willing to pay for the security of your assets, this might be one of the best options for you.

How to get a Ledger Nano S? 

To start using this hardware device, you first need to order it from the official Ledger website. After that, you need to download the wallet app to your desktop or mobile device and connect, using a USB wire or Bluetooth. Having saved your seed-phrase beforehand, you need to set up the wallet by following the instructions. Once you fill up your wallet, you can store cryptocurrency safely and use various services of DeFi protocols.

6. Cropty

Cropty Wallet is DeFi Wallet, which is convenient and easy to work with both in the browser and on mobile devices. Cropty has a fairly user-friendly interface for new users. In addition, Cropty provides a lot of tutorials and up-to-date analytics about cryptocurrencies inside the application. With this feature, you can expand your knowledge of cryptocurrency, and keep up to date on the value of your assets. Cropty supports dozens of popular cryptocurrencies, and several popular blockchains to work with. It’s important to note that we’re constantly working on expanding the supported wallet features, as well as the breadth of cryptocurrencies and blockchains in our app. 

Why we chose it?    

Cropty is perfect for newbies because it doesn’t use confusing code phrases, making it easy to set up and start using. Also, unlike other wallets, Cropty allows you to pay commissions in the cryptocurrency you transfer, which is much more convenient. Our wallet allows you to earn passive income under a flexible term with APY up to 6%. In addition, the wallet supports crediting in USDT cryptocurrency by pledging any other cryptocurrency. 

Cropty keeps private keys far away from the internet, so you can store your assets safely and invulnerable to hackers inside the app. However, it’s worth remembering to maintain other security measures for your assets, so be sure to set up two-factor authentication as well as a strong password on the app.

How to get a Cropty Wallet?

To start using Cropty, you should go to the wallet’s official website, and choose the right platform for you to work with. If you plan to use the wallet on a mobile device, you should download it using Google Play – for Android devices, or App Store – for Iphone devices.

7. BitKeep

BitKeep is one of the most famous multichain DeFi wallets, which acts as a mobile and browser-based application. BitKeep supports over 250 thousand tokens, more than 90 blockchains and a large number of decentralized applications over 20 thousand. BitKeep has over 8,000,000 users, which is good enough for a wallet that has only been on the market for 5 years. The application of BitKeep wallet has simple enough interface, at the same time it supports big amount of functions. For newbies BitKeep provides extensive amount of education materials in BitKeep Academysection, on different technologies and ways of working any blockchain spectra. 

Why we chose it?

It’s a great wallet, for users who are often working with DeFi. BitKeep supports a huge amount of Dapps, with its built-in web 3 browser you can easily connect to the cutting edge blockchain technology quickly and conveniently. BitKeep has its own decentralized exchange built in, allowing you to make cross-network transfers within the app itself. Thanks to the InstantGas feature, users can pay no token exchange fees at all, which distinguishes it from other wallets. In addition, the service has a fairly good technical support, thanks to which you can quickly and easily exhaust the arisen questions. 

BitKeep supports work in more than 168 countries around the world, which makes it accessible to most users of DeFi services. On top of that, BitKeep is quite secure and reliable wallet, because it uses DESM (Double Encryption Storage Mechanism). Due to this feature, users perform transactions with double signing of a contract, thus, the security of the assets remains at a high level. 

How to get a BitKeep? 

To start using BitKeep, you can download it from the official website, to your mobile device or to your browser. After that, go through an easy registration and be sure to save your seed-phrase.

8. Exodus

Exodus is a multi currency DeFi wallet with a simple and intuitive interface. Exodus is supported on different platforms, namely, it can be operated on a desktop, mobile device, as well as in a browser. The wallet supports more than 260 cryptocurrencies and many blockchains. Exodus is one of the best decentralized wallets for beginners, because it has an extensive amount of tutorial videos. 

Why we chose it? 

Together with its user-friendly interface and multitasking capabilities, the wallet is the first choice for cryptocurrency newbies. The wallet supports a lot of decentralized exchanges within which users can trade, exchange and earn passive income. The Exodus mobile app has a built-in web 3 browser, through which mobile users can also use the DeFi features. In addition, Trezor cold wallet owners, safely storing their assets, will connect to the Exodus hot wallet and use its features. 

However, more advanced users may be worried about the security of the defi wallet Exodus, as it has closed source code, which contradicts all hot wallets. Thus, users only have to rely on the team for the invulnerability of the wallet’s source code.

How to get an Exodus Wallet? 

To start using Exodus, you need to download it to your desktop, mobile or browser app from the official website. After that you need to go through an easy registration and follow all the suggested methods to secure the wallet.

9. Rainbow wallet

Rainbow wallet is a decentralized mobile wallet that supports Ethereum tokens. Rainbow supports a large number of cryptocurrencies, but only based on Ethereum blockchain and Layer 2 projects. Rainbow is famous for its application interface: it is very simple and quite stylish, so beginners will have no problem using it. The Rainbow app has a description of each cryptocurrency and different popular tokens, which can help inexperienced users to go deeper into the world of cryptocurrencies and web 3. 

Why we chose it? 

Rainbow wallet will definitely suit beginners as the application has a very stylish and intuitive design. Despite the simplicity of the wallet, it covers all needs of users, thereby allowing to send, receive, connect to DeFi protocols, store cryptocurrency, and perform many other actions with cryptocurrency. Unlike other wallets, Rainbow has a built-in function for buying cryptocurrencies directly through Apple Pay, which makes working with digital assets even easier. Rainbow has the Ens domains feature, which allows you to receive and transfer assets without using complicated long blockchain addresses, which also affects the usability. In addition, the Rainbow wallet allows you to store digital art objects in the ERC-721 and ERC-1155 networks. 

Rainbow is considered a fairly secure wallet; during the development of the application interface, large investors believed in it, and Rainbow attracted more than 100 million investments. However, despite this, we recommend that you follow all hot wallet security measures and keep your seed-phrase safe. 

How to get a Rainbow?

To start using the Rainbow Wallet, you will need to download it to your mobile IOS or Android device. AppStore for iOS devices and Google Play for Android. After that, go through an easy generation of your address and private key seed-phrase. You can now use the Rainbow services.

10. Crypto.com DeFi wallet

Crypto.com DeFi wallet is a wallet of one of the most famous crypto exchanges Crypto.com, which has a fairly extensive functionality. Crypto.com DeFi Wallet supports a large number of crypto-assets, including altcoins and tokens from DeFi platforms. Also, the app supports many popular blockchains. Crypto.com DeFi wallet is one of the best DeFi wallets for beginners because it has a pretty simple interface and a community of crypto-enthusiasts. Community members can help inexperienced users with any questions on how to use the wallet. This DeFi wallet covers all users’ needs, and maintains a robust asset security system. 

Why we chose it?

Crypto.com DeFi wallet is famous for its built-in features. The wallet has a feature to regulate the speed of transaction when sending assets, which will help you save money on commissions.  You can sell and buy cryptocurrency from your card through the Crypto.com exchange connected to the wallet. However, you can also use Crypto.com DeFi wallet without the need to register an account on the Crypto.com exchange platform, thus fulfilling all your needs in the wallet itself. 

Crypto.com DeFi wallet allows you to exchange cryptocurrencies and a lot of opportunities to earn passive income in the application, which distinguishes it from others. In addition, it has a built-in web 3 browser, which in turn gives access to a vast number of supported decentralized applications. 

How to get a Crypto.com DeFi wallet?

In order to start using Crypto.com DeFi Wallet you need to choose a device you feel most comfortable with. The wallet works on desktop and mobile devices. If you are planning to work with the wallet on your computer, you will need to download the client from the official website. After that, you need to follow the instructions and be sure to save the wallet access key – seed-phase. If you plan to interact with the wallet on a mobile device, you also need to go to the official Crypto.com website and go to download the application in AppStore or GooglePlay, following the same instructions.

11. Argent

Argent wallet is a mobile DeFi wallet that focuses on coins in the Ethereum network. Argent is a fairly functional DeFi access wallet that exclusively supports Ethereum-based tokens. The wallet has a fairly simple and intuitive interface, which makes it easy to use for users with little knowledge of cryptocurrencies. 

Why we chose it?

Argent differs from other wallets in that it simplifies the work of customers, thereby eliminating the possibility of a seed-phrase. In turn, registration is done by linking your email and phone number. For added security support, you can also add a fingerprint login feature, or a facial scan.  

Argent allows you to recharge your wallet using bank cards, the recharge service the app itself selects under the best conditions of your geolocation. With Argent, you can earn passive income thanks to the “Invest” feature within the app. For earning decentralized finance, the app provides popular platforms some of which are: Uniswap, Aave, Compound, Balancer and others. Also, you can easily and quickly buy, sell and exchange popular in-app tokens within the app itself. 

On top of that, for large investors with more than $50,000 in deposits, the app provides the Argent Vault service. Which is designed to work only on the basic Ethereum blockchain, with no fundamental transition to second-tier solutions.

How to get an Argent?

To start using Argent, you need to download the app to your Android or iOS mobile device. After that, you need to register by entering your user nickname, confirming your email, and your phone number.

Comparison of 11 Best DeFi Wallets

What is a DeFi Wallet? 

DeFi or decentralized finance is a type of fast-paced financial services that are built on smart blockchain contracts. DeFi wallets are wallets that support the services of any decentralized platforms. DeFi wallets are non-custodial crypto-purses, meaning that they are not managed by any company and the owner is solely responsible for access keys. DeFi wallets help you connect to decentralized platforms easily and securely, which play a big role in the development of their services.   

At the moment a DeFi wallet is created, the user gets private keys that only the wallet’s creator has access to. Accordingly, the developers of DeFi wallets have no access to users’ funds, so they cannot block or manage funds in their wallets. However, any user who received your private key as a seed-phrase gets access to your wallet assets. At the same time, the owner of the service is not responsible in case of loss of users’ assets.

How do DeFi Wallets work? 

Most often, DeFi-Wallets act as browser-based or mobile applications with a constant connection to the Internet. Also, DeFi-Wallets can be hardware-based, with less attractive access to work, but with higher security. The essence of DeFi Wallets is that they are available to anyone who has access to the Internet. In turn replacing the standard banking system, which not everyone has access to for various reasons. Unlike banks, DeFi Wallets cannot block or suspend your assets. In addition your blockchain activities are not controlled by regulators at all.

Thus, the main advantage of DeFi Wallets is the complete freedom of action of users, with a lot of financial opportunities. Each user is responsible for the safety of their assets, unlike the concept of a traditional financial system. Moreover, to interact with most DeFi-platforms and register a wallet, you don’t need to pass KYC or provide any other personal information. DeFi Wallets provide full security and transparency of users’ blockchain activities.

How to get a DeFi wallet?

To start using a DeFi wallet, first, you need to choose it, determining for yourself the best option among the wallets listed in this article. 

First, you need to install it on a device with which you will be most convenient to work with defi wallet. If it’s a mobile device, you need to download the wallet application on your phone. After that, you should sign up and make sure you save your seed-phrase in a safe place. 

Also, put a password and two-factor authentication, if possible. These actions will provide you with the highest degree of security of your assets. 

If you plan to use the services of DeFi from your computer, you need to download either a client on your computer, or an extension in your browser, depending on defi-wallet. After that, you also need to do an easy registration by saving your seed-phrase, and follow all the methods to secure your wallet.

Other than that, if you plan to use deFi-platforms from cold devices, you need to pick up a specific platform that supports hardware device integration. Then connect your device to your computer, and then connect it to the DeFi-platform. Now you can use the services of decentralized finance.

Conclusion

To summarize, we can say that DeFi wallets are dominant in the market, as they provide a lot of opportunities to interact with cryptocurrencies. With just a couple of clicks in most of the wallets presented, you can access DeFi protocols. Within which you can earn, exchange, and perform many other functions with cryptocurrency. Thanks to the wallets listed above, you’ll be able to find an option that’s right for you.

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