The best non-custodial wallets for convenient and safe storage of cryptocurrencies

The adoption of cryptocurrencies is on the rise, and with this, the vital question of how to securely store the keys that unlock access to these digital assets is raised. While enthusiasts may point to the best non-custodial wallets for maximum security and ownership, it can be daunting for beginners to dive into the process without realizing the importance of storage. For starters, cryptocurrency storage falls into two broad categories: storage and non-storage.

Custodials are wallets that transfer control of your private keys to another party. You trust a third party to keep your assets safe and give you access when you need to exchange or move them, which is like keeping your money in a bank. While custodial wallets provide convenience and ease of use, trusting someone else to secure your assets is at risk of losing them.

A safer alternative is a non-storage wallet. In this case, you have complete control over your private keys and, by extension, your digital assets. But if you are the owner of a cryptocurrency, you are solely responsible for the safety of your keys and the safety of your assets.

In this article, we'll take a look at the best non-storage wallets and the features that do them credit.

What is a non-custodial wallet?

A non-custodial wallet allows you to own and control the private keys of your cryptocurrency. This gives you full access to your funds.

The basic principle is that users control the private keys to their accounts. The non-custodial wallet provider must not have any access to the keys and therefore cannot freeze or in any way manage your assets. To clarify, wallets don't actually store cryptocurrencies. They simply store private and public keys and provide an interface for users to interact with their digital assets, which are decentrally stored on a public ledger or blockchain.

This raises the question: Why use a non-custodial wallet?

While giving a third party the ability to manage and secure your cryptocurrencies is convenient, relinquishing control can create vulnerabilities to withdrawal fraud, hacking and theft.

Consider a cautionary tale Mt. Gox, a leading bitcoin exchange that filed for bankruptcy in February 2014. Mt. Gox announced that about 850 bitcoins belonging to customers and the company, which at the time were valued at approximately $ 000 million, were missing. A security audit revealed that the missing bitcoins were stolen directly from the cryptocurrency wallets of Mt. Gox since 450.

In addition to the catastrophic risk of losing control of your assets to a third party, as the Mt. Gox, there are other reasons for using a non-custodial wallet.

A custodial wallet provider may set a maximum withdrawal limit or unilaterally set fees for the use of its services. You may temporarily lose access to your cryptocurrencies if the platform experiences technical problems. Essentially, your assets are in someone else's power if you don't own your keys. After all, as they say, "not your keys, not your coins."

On the other hand, a non-custodial wallet gives you complete control over your hard-earned digital assets. You set your own rules and deal with your funds as you see fit. However, you are solely responsible for the safety of your keys. Therefore, choosing the best non-storage wallets is very important.

What's the difference between hardware and software wallets without storage?

Hardware Wallets are safe and simple devices that store your cryptocurrency offline so that you cannot be hacked. Also known as cold wallets, they look like small external drives and are not dependent on online exchange platforms. Hardware wallets require a device connection before you can access your cryptocurrency.

Software wallets are applications that can be downloaded to a computer or mobile device. They securely store your private keys and provide an interface for trading and managing cryptocurrencies. Software wallets are encrypted and require a password to access the keys stored in them.

Investors are divided when it comes to choosing one of these top non-custodial wallets. Due to their autonomous status, hardware wallets are more secure than software wallets. Thus, these crypto wallets are better suited for storing large amounts of cryptocurrency. On the other hand, software wallets are connected to the Internet, so in theory there is a risk of possible hacking or attack. However, they offer more convenience and are well suited for users who transact frequently and need quick access to their assets.

Best non-custodial hardware wallets

The way the best non-storage hardware wallets work, which makes them more advanced in terms of security, is that they are completely isolated. This separates them from your highly vulnerable computer or connected device. Here are hardware wallets worth considering.

Ledger

When it comes to the best non-vault wallets, Ledger is the most recognizable. It is a well-known and reputable company behind the popular Ledger hardware wallet suite. The Ledger wallet is accessed through Ledger Live, a native free desktop app that allows you to send and receive cryptocurrencies, check your balance, and gives you full control over all Ledger devices. Ledger currently offers two hardware wallets: Ledger Nano X and Ledger Nano S.

Ledger Nano X: This is Ledger's flagship wallet device. It features the ability to manage over 100 cryptoassets concurrently and supports over 1800 tokens. The Ledger Nano X has an OLED display and is Bluetooth enabled, which means you can confirm your transactions on the go without the hassle of plugging in a USB cable.

The Ledger Nano X is a little pricey at $119, but it provides solid protection for your digital assets in a sleek and durable package.

Ledger Nano S: The affordable $ 59 Ledger Nano S offers the best value for money. It has a user-friendly interface, clean design and supports a wide range of cryptocurrencies.

KeepKey

The KeepKey Wallet is a well-designed, albeit relatively large, hardware wallet from ShapeShift. It features an easy-to-use interface in a rugged, reliable device. KeepKey's standout feature is its in-wallet cryptocurrency exchange, which allows you to trade between cryptocurrencies without resorting to an external exchange.

KeepKey stores all private keys using the industry standard BIP32 protocol. For added security, KeepKey requires manual authorization of each transaction using a button on the device.

KeepKey is currently on sale for $ 49, which is a great deal considering the wallet is multifunctional and newbie-friendly.

On the other hand, KeepKey only supports 40 cryptocurrencies, which is far less than the other top non-custodial wallets on this list for storing cryptocurrencies.

Trezor

Trezor pioneered the market for the best non-custodial wallets with their hardware crypto wallet technology and, accordingly, has a solid reputation in the industry. Trezor wallets are unique in that they are the only hardware wallets that offer native support for ERC20 tokens. On the other hand, updating the firmware on Trezor wallets often results in the entire wallet being deleted. This can be intimidating for a new user; however, you can easily enter the backup phrase and quickly restore the wallet. Like Ledger, Trezor offers two hardware wallets: Trezor Model One and Trezor Model T.

Trezor Model T: The Trezor Model T has the same features as the Trezor Model One, minus the newly introduced large touch screen. The touch screen is an important upgrade as it allows users to enter a seed phrase directly on the device without going through a computer. Your computer may be infected with malware, making it very risky to type your seed on it. By only allowing you to enter your seed phrase through the touchscreen, the Trezor Model T eliminates all threats of hacking because the device is not connected to the Internet and therefore not infected with malware. The Trezor Model T also supports more coins than the Trezor Model One. However, it is a bit pricey at $170.

Trezor Model One: The Trezor Model One is the earliest hardware wallet on the market and still the most established. It has a clean design with a user-friendly interface and supports over 1 cryptocurrencies. The only major altcoin it does not support is XRP from Ripple Labs. You can get the Trezor Model One for $000 which makes it quite affordable.

AirGap

AirGap is a hardware cryptocurrency wallet system that uses smartphones as hardware devices. This is a two-step system that involves using your old smartphones that are not connected to the Internet to generate private keys and store and authorize transactions. A regular internet-connected smartphone is used to prepare or initiate transactions, which are then signed or authorized by the old smartphone. This system provides a high level of security for your digital assets.

Because AirGap runs on two apps, AirGap Vault and AirGap Wallet, AirGap Vault is installed on an old smartphone. This smartphone does not need to be connected to the Internet, which makes it “airy” and therefore more secure. AirGap Wallet is installed on your ordinary modern smartphone with an Internet connection and is used to initiate transactions and provide an interface to view your portfolio.

You can use these two apps on the same phone, but for more security, it's better to use two different phones. Both apps are available on iOS and Android.

bitbox

BitBox is a multisigma, simple hardware wallet designed for beginners. It features a unique backup system that uses a micro SD card rather than a mandatory seed phrase. This makes the backup process one of the fastest on our list of the best no-storage wallets. Other nice features include quick setup, an intuitive interface, and a practical in-app guide.

Compatible with Windows, Mac and Linux operating systems, BitBox currently supports BTC, ETH, ETC, LTC and ERC20 tokens.

BitBox keeps your digital assets safe with a host of superior security features. Each transaction must be manually verified using a touch button on the device. You will also get two-factor (2FA) authentication and AES-256-CBC encrypted communication over USB. The compact BitBox device retails for $ 149.

cold card

Coldcard is a multisigma wallet from Coinkite, one of the oldest bitcoin companies. The Coldcard Wallet is a Bitcoin-only vault, equipped with a micro SD backup, decoy wallets, pins, a lock timer, and other great security tools.

At just $ 120, Coldcard boasts of being the only hardware wallet that can handle Ether without a problem. This means that you can set up your crypto wallet, top up and transfer cryptocurrency without connecting your device to a computer or device connected to the Internet.

The device is bulkier than most competing hardware wallets, but its size can accommodate a full-fledged numeric keypad, making Coldcard easy to use. This makes it an acceptable choice among our top non-custodial wallets for those who prefer convenient hardware wallets.

Best non-custodial software wallets

While software wallets are arguably less secure than hardware wallets, their advantage is convenience. Users can freely buy, exchange and make purchases of cryptocurrencies without leaving the application. Plus, software wallet apps are free to download, so they're perfect for newbies on a budget.

Coinomi

Coinomi is a secure, multi-chain crypto wallet that supports 125 networks and over 1 digital assets. It allows transfers through SegWit, which makes transactions easier.

Coinomi offers direct transfer to DEX
Decentralise Exchange (DEX) is a cryptocurrency exchange platform built on blockchain technology and eliminating the need for…
trading (token exchange), built-in exchange, as well as DApp support and Web3. In addition, Coinomi is available in more than eight languages.

A key feature of Coinomi is security, which is why most users call it one of the best non-custodial wallets for storing cryptocurrencies. Coinomi stores your private keys locally on your device, not on their online servers. This way, your keys are completely under your control and are not stored on a network that can be hacked. Protecting your assets is as easy as keeping your device away from malicious connections.

The use of passwords further enhances Coinomi's superior security. Even if thieves steal your device, they won't be able to gain access without the password you set.

Dappradar

MetaMask tops our list of the best non-custodial wallets for its incredible ease of use. As a software cryptocurrency wallet that is also a browser extension, MetaMask is available in popular browsers such as Firefox, Chrome, and Brave. MetaMask only supports the Ethereum blockchain and only stores keys for Ether and other ERC20 tokens. MetaMask also allows users to interact with DApps built on the Ethereum blockchain.

Using hierarchical deterministic settings to assist users in backing up their accounts, these words and seed phrases ensure convenience in the event of losing access to the MetaMask wallet. The user can safely recover lost account information by entering the seed phrases in the correct order. The MetaMask code is open source, which means that it is constantly being improved. Another great feature is the built-in purchase of coins. MetaMask is connected to two exchanges, Coinbase and ShapeShift, where users can trade Ether and ERC20 tokens.

In terms of security, MetaMask offers password encryption for your private keys, which are stored in your browser, not on a remote server. This gives you complete control over your private and public keys. However, it is not as secure as a hardware or paper wallet as it sits on the Internet. MetaMask is best used to store the small amount of cryptocurrencies and tokens needed to learn DApps on Ethereum.

zengo

ZenGo claims to be the first of the best software wallets to not support storing multiple cryptocurrencies. ZenGo wallet is available on iOS and Android and is easy to set up and use. ZenGo supports Bitcoin, Ether and Binance coins and allows you to trade or earn interest on these cryptocurrencies for a fee. It also provides the convenience of buying cryptocurrencies with a credit card or Apple Pay.

When compared to other top non-custodial wallets, ZenGo stands out for its threshold signature scheme. This is an innovative, high-level security feature that splits your private key into two parts. One part is stored on the servers, and the second part is stored on the user's phone. A transaction can only be carried out when these two parts interact.

ZenGo stores a portion of the user's private key in its cloud storage and uses facial recognition to recover the key if the user loses their device.

The ZenGo app offers these innovative security features in a clean, simple user interface designed with newbie in mind.

BitPay

BitPay is an open source, non-vault Bitcoin wallet that combines high security and convenience for trading and storing BTC. It allows users to buy and sell Bitcoin through an integrated exchange. What's more, the Bitpay Wallet features a BitPay Visa Card that converts BTC to USD and is accepted worldwide by merchants and ATMs. It is this Visa Card that makes BitPay the best choice among the best non-custodial wallets if you regularly transact with cryptocurrencies.

BitPay offers a multisig feature that allows the user to confirm transactions across multiple devices, maximum 12. BitPay also supports 2FA authentication with Google Authenticator and protects buyers with Payment Protocol to further secure their assets Payment Protocol protects payments made to unknown addresses. checking them out.

The BitPay app is well designed and intuitive making it suitable for newbies. Built-in exchangers and Visa Card are ideal for users who make frequent transactions.

BRD (breadwallet)

Do you mind trying one of the best non-custodial wallets optimized for mobile use? BRD (formerly Breadwallet) is a mobile-only wallet designed for both Android and iOS. Although it is a bitcoin wallet, BRD allows you to convert your BTC into ETH, BCH and ERC20 tokens. The app is well optimized for mobile devices and easy to use. However, under the simple shell hides many advanced security features.

BRD uniquely uses Lightweight Payment Verification (SPV), which connects users directly to the Bitcoin network. In addition to improving transaction speed, this direct connection improves security as there are no servers to compromise. Other important security features include AES hardware encryption and code signatures, touch ID, and a 6-digit PIN for added security.

Edge

Edge is a mobile-only software wallet available on iOS and Android. The app is easy to use and offers convenient features with ShapeShift integration such as buying, exchanging and spending cryptocurrencies.

Overall, Edge is one of the best non-custodial wallets as its security features are cutting edge. Client-side encryption ensures that your data is securely encrypted on the device before it reaches the wallet's servers. This makes Edge immune to server-side and malware attacks. In addition, only the user has access to the account information. Edge supports Google's popular 2FA authenticator, which means if attackers find out your password and username, they still won't be able to access your account.

Edge supports over 31 coins. It has all the security and privacy features you need, making it one of the best non-custodial wallets for storing cryptocurrencies.

Trust wallet

Ask anyone what is the best non-custodial wallet they recommend and you are more likely to hear about Trust Wallet. Built for convenience, Trust Wallet makes it easy to manage and protect your cryptocurrencies. It is available for iOS, Android, and desktops.

Trust Wallet offers users many options for buying cryptocurrencies, including cards, and supports a wide range of cryptocurrencies. You can bet cryptocurrency on a percentage and exchange it instantly, while maintaining maximum privacy and security. You can track prices and charts without leaving your wallet.

Trust Wallet also lets you view your NFTs, art and collectibles in one place. You can use your favorite DApps and explore new ones on the Trust Wallet platform.

The app uses fingerprint and PIN scanning for an extra layer of security. Trust Wallet does not store user data on its server. Instead, it allows users to store data on their devices, giving them complete control over their keys.

Trust Wallet supports 40 blockchains and over 160 digital assets. Overall, it is a secure and versatile software wallet that is ideal for most types of users.

Сonclusion

Overall, the best non-custodial wallets connect you directly to a blockchain or non-custodial exchange. This allows you to have complete control over your keys, and the intervention of third parties is very minimal. In addition to greater security, non-custodial storage allows transactions to be made anonymously and reduces the risk for third parties. You also have the option to buy cryptocurrency directly, which gives you access to more cryptocurrencies.