Top 5 Crypto hot wallets: Our picks for April 2023

A hot wallet is stored on a device that has internet access such as your phone or laptop. Typically, these wallets are free applications, with additional services such as trading or staking available for a fee. A hot wallet makes it reasonably simple to conduct cryptocurrency transactions. However, because they are online, they can be exposed to hackers if you are not cautious and do not use multi-step authentication.

There are several wallet solutions to store and exchange the well over 20,000 coins that are currently in use.

It could be challenging to select the best wallet for you given the wide variety of options available. Here are our top 5 cryptocurrency hot wallets for April 2023 and why we chose them.

1. Coinbase Wallet

The Coinbase Wallet seamlessly connects to its native crypto exchange and many other major decentralized crypto exchanges (DEXes) such as Uniswap (UNI), Sushiswap (SUSHI), 1inch (1INCH), among others. If you’re looking for cold wallet compatibility, Coinbase Wallet has teamed up with cold storage pal Ledger. Users can combine Ledger’s offline crypto storage with Coinbase Wallet’s assortment of features.

2. SafePal

SafePal is a hot wallet that serves more than 6 million users across more than 190 countries. It supports all major cryptocurrencies, including popular stablecoins like Dai (DAI) and TrueUSD (TUSD). One major perk of SafePal is its integration with crypto exchange Binance. This means you can seamlessly connect to Binance for the buying and selling of crypto via your SafePal wallet.

3. Crypto.com DeFi Wallet

This wallet is dedicated to storing decentralized finance (DeFi) crypto assets. Users can easily access Crypto.com from their wallet to buy and sell crypto.If you’re looking for the right place to park Bitcoin, Ethereum and USD Coin (USDC) under one roof, this might be the wallet for you. The wallet supports more than 800 types of crypto assets, including popular stablecoins and the top 20 cryptocurrencies by market capitalization.

4. The Exodus crypto wallet

It supports more than 225 cryptocurrencies. For those new to crypto, Exodus offers a plethora of educational materials and explanatory videos to enhance your knowledge of specific cryptos.

5. Metamask wallet

MetaMask is a popular cryptocurrency wallet that supports a broad range of Ethereum-based tokens and non-fungible tokens (NFTs) on supported blockchains. While experienced crypto investors may appreciate the speed and simplicity of the wallet, new investors may find it difficult to navigate. In addition, the wallet does not support Bitcoin, making it a turn-off for investors whose primary investment is Bitcoin.

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