Best Crypto Wallet & Bitcoin Wallet U.K. in 2022

Best Crypto Wallet & Bitcoin Wallet U.K. in 2022

Before you start thinking about buying or mining crypto, you first have to take a look at how you plan on storing your digital assets. To be extra safe and cautious and to avoid any thefts or hacker attacks, your best option is to find the best crypto wallet. It will take the hefty task off your hands and offer you the ultimate convenience and safety of managing your crypto assets.

But, such a delicate task cannot simply be trusted to the first crypto wallet you find online. Instead, you will have to conduct extensive research and compare a number of wallets before you find one that fits your needs perfectly.

To help you with that challenge, we have done our own research and found the best available options. So keep on reading, as our list may be the shortcut towards the best crypto wallets in the United Kingdom.

List of Best Crypto Wallets U.K.

  1. eToro – Overall Best Crypto Wallet for Staking
  2. Binance – Popular Wallet for Crypto Trading
  3. Uphold – Safest Crypto Wallet with Hot and Cold Storage
  4. Coinbase – Best Bitcoin Wallet for Long-Term Investors
  5. Huobi – Most Diversified Hardware Wallet

1. eToro –Overall Best Crypto Wallet for Staking 

eToro

If you are looking for a crypto wallet that will support your trading needs at all times, eToro’s crypto wallet has you covered. With its convenient wallet, you can easily indulge in crypto trading without worrying about the safety or accessibility of your funds. The crypto brokerage is regulated by SEC, FCA, ASIC, and CySEC, while the GFSC vows the security of its wallet.

If you are a passionate trader, you can use eToro above its wallet support and earn a significant crypto stash from trading stock and crypto on the fantastic platform. And if you are inexperienced with trading but excited to give it a try, you will find the vast network of resources to be more than handy.

Features

  • Safe Depositing

eToro ensures the safest approach towards depositing money on your account or wallet. As of its foundation in 2007, eToro strives to implement and exceed the ultimate industry standards and practices in providing outstanding safety for depositing. All transactions made using eToro are communicated through a Secure Socket Layer technology that ensures the security of your information.

To keep away from frauds, eToro does not allow any third-party payments. So if you are looking to fund your eToro wallet using someone else’s bank account or card, you are out of luck.

In terms of depositing, eToro also features a minimum and maximum depositing amount, so you can deposit anything from $10 up to $10,000 in a single day.

  • Demo Account

With eToro, you will get the ultimate convenience of a free demo account. With the demo account, you can quickly get accommodated with the platform without risking your funds straight away. It will give you valuable insight into how the platform works, so you can get started at staking and trading crypto with confidence and a little bit of much-needed experience.

The eToro demo account lets you invest in over 20 of the most popular cryptocurrencies, stocks, and ETFs. Apart from that, you will also get full access to your virtual portfolio, real-time trends with advanced analysis tools, and so much more.

Additionally, you can also practice trading with the simulator, which will help you realize any mistakes and experiment with different strategies without risking your funds.

  • Insurances

eToro understands the need for insuring your funds and does an outstanding job while keeping you safe. Therefore, amounts up to $250,000 are insured by The Federal Deposit Insurance Corporation, which maintains the stability and public confidence in the financial system.

Larger amounts are additionally insured by the Securities Investor Protection Corporation, which protects customers in cases of failure of the brokerage firm.

Pros

  • Excellent opportunities for crypto trading
  • Vast library on educational resources 
  • Impeccable protection with industry-leading security systems
  • Over a decade of experience 
  • Excellent rating among users
  • Wide variety of accepted cryptocurrencies

Cons

  • Slightly less exciting for more experienced users

Why Do We Recommend eToro?

eToro is an incredible opportunity for every crypto enthusiast that is looking for a safe place to store their crypto assets but also wants to experience the excitement of crypto trading. The platform’s wallet is pretty flexible in terms of accepted payment methods and available cryptocurrencies to stack and trade with.

If you are new to the whole crypto experience, on eToro’s website you will find a great library of educational resources that will get you up and running in no time. To help you gain experience and boost your confidence, the platform also gives free access to a demo account, which can be pretty beneficial if you use it the right way.

2. Binance – Popular Wallet for Crypto Trading

Binance

According to our research and a large number of satisfied users, Binance offers the safest way to store all your digital assets in a single place — its Trust Wallet. The Trust Wallet lets you store almost every digital asset you may ever think about purchasing or mining, with the help of a convenient mobile app. It works on both mobile operating systems, so you will never have to worry about support ever again.

Apart from a reliable wallet, Binance also offers you a lot of other crypto-related services, allowing you to buy crypto using deposits, cards, and P2P trading (trade your assets in a wide variety of ways).

Features

  • Variety of Assets

Binance’s trusted wallet supports over a million assets and 53 blockchains. The wide variety lets you store all your coins and tokens in a single and secure mobile wallet. The abundance of assets can easily be obtained, traded, and stored. If you decide to keep your crypto for a more extended period of time, you can also receive a fantastic amount of interest.

For your convenience, the crypto wallet is available for both Android and iOS, so you can have all your digital assets in the palm of your hand at any time.

  • Amazing Chance for Staking

Staking crypto is pretty similar to holding money in your bank account to generate interest. By staking coins in Binance’s Trust Wallet, you will obtain a certain amount of decision power over the network and get the ability to vote and generate an income.

Although choosing the right coin to stake can be quite challenging, Binance’s wallet lets you stake an amazing variety of currencies such as Binance Coin, Cosmos, Tron, and Algorand, with much more to be available soon. That slightly narrows down your choice to some of the best coins you should definitely invest in.

With crypto staking on Binance, you can earn up to 11% APR in interest rates. Different currencies feature various APRs, but they are undoubtedly among the most efficient ones on the market. And what is even better, you can start earning in a matter of seconds.

  • NFT Support

Apart from the wide variety of cryptocurrencies you can stack in your Trust Wallet, Binance also offers NFT support. The Trust Wallet provides a straightforward approach towards storing all your NFTs, game assets, and collectibles on Ethereum and BSC, featuring the ultimate security. With the wallet, you can rest assured that your collectibles are safe on the blockchain.

Pros

  • High interest rates for staking crypto
  • Wide variety of supported currencies and NFTs
  • Trusted dApps browser available
  • Multilingual support
  • Quick and easy setup in three simple steps
  • Immediate exchange of your assets
  • Credit and debit cards accepted

Cons

  • Each withdrawal is charged with a flat fee for transaction costs

Why Do We Recommend Binance?

During our research, we found that Binance ranks pretty high among the competitors, and the reasons for that are endless. From the ultimate security, it offers users alluring interest rates you can earn while staking crypto and so much more.

With the Trust Wallet’s staking feature, you can literally earn crypto while you sleep, as you can simply stake an initial amount on your wallet and let your digital assets do the rest of the work.

The Trust Wallet supports a wide variety of digital assets, offers support for both mobile operating systems, and allows you to purchase your crypto a wide range of payment methods. So, it will never fail in supporting all your needs.

3. Uphold – Safest Crypto Wallet with Hot and Cold Storage

Uphold

Uphold is an amazing service that strives to change the way people access and control their money. It serves over 180 countries, offering support for over 80 currencies — both crypto and fiat. Apart from currency support, the platform also lets you trade commodities with frictionless exchange and cross-border remittance across the world.

The platform was founded in 2015 as a unique market for trading digital and physical assets and is one of the few crypto exchanges that also lets you trade commodities. It is a proud member of the FinCEN Registered Money Services Business in the United States and an EMD agent of an Electronic Money Issuer in the United Kingdom.

Features

  • Safe Storage

Uphold’s crypto wallets offer you the ultimate convenience from a hot mobile wallet, which is best if you want to have 24/7 immediate access to your valuables or make frequent transactions using crypto.

However, hot wallets are far less safe than cold wallets, which is why Uphold uses cold storage to store around 90% of your crypto. That way, you can quickly access your assets when you need them without worrying about their safety.

Apart from keeping your assets safe, you can also use Uphold wallets to store your keys and check off another item from your list of things to remember and worry about.

So, regardless of whether it is your keys or assets you are worried about, Uphold offers the ultimate security by incorporating the most robust industry standards and keeping you safe. With that in mind, you can continue crypto trading at ease.

  • Crypto Support

Uphold offers you a fantastic opportunity to store some of the most popular cryptocurrencies on the market. Therefore, it provides a specialized wallet for multiple currencies, including Bitcoin, XRP, Ethereum, Litecoin, Bitcoin Cash, Dash, and Bitcoin Gold.

Compared to the competition, the list of available cryptocurrencies is slightly limited but still manages to include the top-rated cryptos, which is more than enough unless you are interested in investing in some unknown coins.

Apart from letting you store your crypto, Uphold wallets also allow you to trade between crypto, fiat currencies, and metals. It is available on iOS, Android, and as a web-based wallet for the ultimate convenience.

  • Fraud Protection

To protect you and all other users against fraud, Uphold verifies the identity of each new user. Therefore, Uphold collects your name, date of birth, and contact number upon signing up. By providing a small portion of your basic information, you help keep the community safe and lower the chances for fraud on the platform.

Pros

  • Simple user interface for quick and easy navigation and use
  • Allows you to trade crypto, fiats, and metals in a single place
  • Also available for businesses and developers
  • 24/7 customer support
  • Convenient way to make payments to vendors, send money, and convert your currencies
  • Improved safety with alternative cold storage

Cons

  • High spreads on transactions with lower volume

Why Do We Recommend Uphold?

We highly recommend Uphold’s wallet as one of the safest ways to store your cryptocurrencies. The combination of both a hot and a cold storage option will give you peace of mind that your crypto is indeed secure on the web.

It supports a slightly limited range of cryptocurrencies but makes up for that by allowing you to effortlessly trade your crypto for a wide variety of fiats and metals.

However, apart from the amazing wallet support it offers, Uphold also helps inexperienced crypto users make a better entrance to the exciting new approach towards finance. On its platform, you can find a number of resources that will help you get started, work your way up, and improve your crypto game in no time.

4. Coinbase – Best Bitcoin Wallet for Long-Term Investors

Coinbase

Coinbase offers some exceptional crypto storing options that are specifically designed to fit individual needs. Therefore, the platform offers different services for individual users, businesses, and developers.

Coinbase strives to make finance better and more accessible for everyone. Its platform and wallet offer extended fairness, accessibility, efficiency, and transparency towards your crypto assets and valuables. The inclusive approach towards crypto is topped up with the ultimate security, as Coinbase ensures the safety of your funds by using state-of-the-art technologies that surpass industry standards.

And if you also add the flexibility of both a web-based and a mobile wallet to the equation, you will end up with something other than a reliable crypto wallet, which is precisely what Coinbase has to offer.

Features

  • Self-Custody Wallet

Coinbase’s wallet is a self-custody one, meaning that if you decide on it, you will hold complete control over your crypto funds.

That means that Coinbase only provides you with the necessary software to store your crypto, but the responsibility of remembering and keeping your passwords and keys safe is entirely up to you. Although it may seem a bit challenging, keeping your keys private is the ultimate base on which cryptocurrencies rely.

With Coinbase’s wallet, not only will you gain complete control over your crypto, but you are also in for additional perks and features. It allows you to engage in advanced activities such as yield farming, staking, lending, borrowing, and so much more.

  • Easy Setup

With Coinbase, you can quickly set up your non-custodial wallet in a matter of minutes. The first step you will need to do is access the web-based platform or download the mobile wallet app. Next, you will not be required to share any personal data or even an email address that hosted wallets ask for, and you will gain instant access to your wallet without filling out endless forms.

All you have to do is write down your private key and keep it at a secure location, as it is your only key to your crypto wallet. After you have secured your private key, you can quickly transfer crypto to your wallet and start managing your crypto assets at your convenience.

  • Market Updates

Keeping up to date with the crypto market is essential if you possess any crypto. Whether you are looking to earn interest by staking crypto, buying and selling at convenient times, or simply keeping up with the value of your crypto, you would want to know the actual value of your assets.

That is why Coinbase offers you quick access to all market updates in the same place you use to manage your assets. Apart from the market updates and value changes, Coinbase also provides you with new trends and updates on the market, so you can never fall behind with any crypto-related events.

Pros

  • Access to a web-based and a mobile wallet
  • Exciting possibilities to earn free crypto
  • User-friendly interface
  • Customized service based on your needs
  • Amazing tips and tutorials to improve your knowledge of crypto
  • Mobile wallets easily be linked with your favorite dApp

Cons

  • The hosted wallet is constantly connected to the internet

Why Do We Recommend Coinbase?

During our research, we found that Coinbase offers ultimate flexibility in its Bitcoin wallets, a feature that very few other platforms offer to such a great extent. Therefore, Coinbase understands the diversified needs of its customers and works devotedly to providing them.

That is why it provides various services best suited for individuals, businesses, and developers looking to contribute to the crypto community.

Apart from the fantastic wallet features, Coinbase also offers many ways for you to earn crypto, buy or sell digital assets, and even borrow cash using crypto as collateral.

5. Huobi – Most Diversified Hardware Wallet

Huobi

We are concluding our list with none other than Huobi. Huobi offers an extensive library of crypto services for your convenience and will assist you with anything, from buying and staking crypto to spot trading and crypto loans. It provides a variety of features that make it a terrific place for you to start the crypto journey and get a head-start into the future of finance.

Huobi gives a significant social take on the whole crypto experience and allows you to connect to many like-minded individuals. That way, you can share and collect experiences to learn valuable tips and tricks from members of the crypto community from all across the world with the help of many social platforms such as Facebook, Twitter, Instagram, as well as its dedicated Telegram channels.

Features

  • Wallet Backup

Huobi never requires access to your private keys and lets you handle their safety and security on your own. Therefore, your private keys are securely stored on your device without Houbi having any access to them.

However, since managing a 12-digit random number can be rather challenging, Huobi offers multiple backup options that can come in handy, in case you lose your private key or if it gets stolen.

  • Cloud Wallet

Huobi’s Cloud Wallet is an amazing solution for entry-level users, as it takes the hassle off of securing your private keys, while allowing you to participate in many DeFi projects with a single click.

With Huobi’s Cloud Wallet, you can have peace of mind knowing that your private keys are protected, and your assets are safeguarded by the top-notch security technology of the Huobi Group. It allows you to interact with a variety of assets from different chains and work on strictly selected projects.

You can quickly create a Cloud Wallet through the Asset section on Huobi Global’s website or by using a Huobi Global account. Both of these methods are expressively quick and straightforward, but if you come by any obstacle, you can also watch a complete step-by-step tutorial that will guide you through the application process.

  • Crypto Rewards

Huobi offers some appealing rewards for its loyal users. Therefore, signing up for H-Earn can get you 100% APY, while inviting your friends for a higher investment amount can earn you up to 2,000 USDT. Additionally, you can also open mystery boxes and earn additional MAKI.

The platform also features many exciting events that are followed by reward points for a chance to earn up to $100 in COW.

Pros

  • High-level cyber security and two-factor authentication
  • Multiple wallet options
  • Vast community of crypto enthusiasts to share experiences with
  • 24/7 customer support
  • Funds are kept in multi-signature cold wallets that are constantly monitored

Cons

  • Not available as a web-based app

Why Do We Recommend Huobi?

Huobi features an impeccable crypto wallet offer that is guaranteed to provide all of your needs. The platform allows you to handle all your crypto storage and trading in a single place, with a large number of supported currencies at your fingertips.

For the clumsy or forgetful ones, Huobi includes an incredible backup option that will help you regain access to your wallet even if you forget your private key or if it gets stolen.

Apart from the excellent wallet features it provides, Huobi also offers you some exciting ways to earn additional crypto and increase your stash by completing fun activities.

Finding the Best Crypto Wallet U.K.

Whether you already have a significant crypto stash that you are looking to keep safe, or you are only getting started with cryptocurrencies but want to have all aspects taken care of before you do, finding an excellent wallet is ultimately essential.

But if you are not entirely familiar with all factors that come to play, keep on reading, as we have prepared a list of insights that will help you find the best option for your preferences.

  • Available Cryptocurrencies

While searching for the best crypto wallet, you will have to be very careful about the options it has to offer you in terms of currencies. So, the first thing you can do to narrow down your choices is to see which cryptocurrencies are supported by the wallet and if your favorite one is featured on the list.

Finding a suitable wallet should not be too much of a trouble if you are after some of the most popular options, such as Bitcoin, Ethereum, Tether, Binance Coin, Cardano, or Solana. But if you are interested in some more specific ones, you may have to prepare yourself for an extensive search.

  • NFT Support

Although many people are only familiar with the most popular cryptocurrencies, crypto involves much more than just currencies. NFTs, or non-fungible tokens, are noninterchangeable assets stored on the blockchain. These are usually associated with digital files such as photos, images, music, or videos.

So if you are interested in purchasing crypto art or collectibles, you should make sure your new crypto wallet lets you store NFTs.

  • Storage

Another vital aspect you should consider about every wallet or platform is how it stores your funds. Since mobile and web-based wallets are most convenient for inexperienced users and crypto traders who make frequent transactions, almost all service providers will offer you a hot wallet as the best alternative.

However, although hot wallets are more convenient, they are also less secure than cold ones. That is why some platforms combine these storing methods to give you the best of both worlds. For instance, Uphold keeps up to 90% of the assets in the safety of cold storage to ensure better protection for its users.

  • Security

Besides the fact that crypto offers a safer and improved approach towards finance, you should always insist on ultimate security for managing your digital assets. To do that, you can keep an open eye on the safety standards and practices a service abides by and look for things like multi-factor authentication, private-key backups, etc.

  • Additional Features

You should know that a lot of wallet providers also offer countless other crypto-related features that might come in handy while you are looking for a crypto wallet. Therefore, many platforms also offer you access to crypto marketplaces where you can trade-in your digital assets or brokerages where you can quickly buy or sell crypto.

Apart from that, you can also get access to some exciting ways to earn crypto or even gain interest from staking a specific currency.

So if you are curious about exploring all of your crypto opportunities, you should look for additional features you can take advantage of.

Crypto Wallets Explained

If you are struggling to understand some less familiar terms, such as hot and cold wallets, you should take the time and get into the depths of crypto wallets, as finding the best wallet for your needs will require extensive knowledge and preparation.

  • Wallet Types

Since cryptocurrencies are all about the end user’s convenience and strive to provide you with the ultimate accessibility and better approach and control over your funds, it is understandable that there are multiple wallet variants that fit different people’s needs.

So, based on your availability and comfort with different devices, there are dedicated crypto wallets specifically designed to work on your mobile, desktop, or laptop. Crypto wallets can also come as web-based apps or even entirely separate hardware gadgets that keep your digital assets safe.

  • Desktop Wallets

A desktop wallet is a piece of software that you can install on your desktop or laptop to help you manage your digital assets. These apps often include added features such as node software or exchange integration, which can come in handy in specific situations.

Desktop wallets are constantly connected to the internet, making them more vulnerable to exposure to hacker attacks. On the other hand, they are pretty accessible and allow you access to your funds at all times, which is excellent if you need to make transactions often.

  • Mobile Wallets

If you are looking for a mobile-friendly alternative that will not require you to turn on your computer every time you want to check your balance or make a transaction, mobile wallets are your best choice. They offer similar functionalities as desktop wallets, with the main difference being the device to which they are installed.

However, mobile wallets also feature some extra conveniences, such as the ability to use them to make payments in a physical store.

They are very portable and convenient to use, but these properties can easily work against you, since losing your phone or getting it lost may cost you your entire crypto stash.

  • Web-Based Wallets

Web wallets are another type of crypto wallet that is very convenient to use. They offer you the best of both worlds since you can easily access them from both your computer and smartphone. They are pretty straightforward to obtain and use, making them a popular option among many users.

However, web-based wallets come with a significant security concern, since they are very susceptible to malware and phishing threats intended to steal your passwords and private keys. But still, if you manage to find a reliable platform that offers you the convenience of a web-based wallet and be cautious about how you access it, you can easily enjoy the convenience of a web wallet.

  • Hardware Wallets

Hardware wallets are the most secure type of crypto wallets. They work by storing your private keys on a physical device that is kept offline at all times, except when you have to make a transaction.

These devices are pretty similar to a USB drive and identically have to be plugged into your computer if you need to make a transfer. All you have to do is plug the wallet in, and your transaction will be signed without compromising your private key.

A hardware wallet is the safest option for storing your crypto stash, since they are basically immune to virus attacks. Since they are almost constantly offline, these alternatives are perfect for safely storing a more significant amount of crypto. But, it is a wrong choice if you need frequent access to your digital assets.

  • Hot vs. Cold Storage

If you have already started your search for the best crypto wallet, you have probably read the terms hot and cold very frequently. So, now is the time for you to find out what they mean in terms of crypto wallets. No, they do not refer to the temperature at which your crypto assets will be kept. The terms ‘hot’ and ‘cold’ storage refer to whether your assets are kept online or offline.

Basically, hot storage refers to any wallet that stores your assets online, while cold storage is the alternative that keeps your crypto offline.

Hot storage is distinguished with a greater risk of having your funds stolen but is faster and easier to handle or trade your crypto. A cold wallet is usually not connected to the internet, making it more secure, but it is less accessible and convenient than a hot wallet.

FAQs: Crypto Wallets

Q1. What is the best way to store my private keys?

The best storage for your private key depends on how you are going to use your cryptocurrency.

If you intend to make frequent payments, you should keep your private key by your side, and the best way to do that is to store it on your computer or mobile phone regarding which device you use for making crypto transactions. Choosing such storage options will require you to be extra cautious, as, given the chance that you lose your phone or it gets stolen, you will not be able to regain access to your wallet and, therefore, your crypto.

But if you are not expressively interactive with your crypto stash, your best option is to keep your private keys offline — preferably on a device that is entirely restricted from internet access. Still, even if you opt for a safer alternative, you will have to be cautious about how you stash the device or piece of paper that contains your private key.

Q2. How can I withdraw cryptocurrencies?

Since cryptocurrencies are digital and not physical assets, you cannot simply withdraw them on an ATM. You can, however, convert them into fiat and then withdraw their fiat counter value in any convenient way.

To do that, you will need access to a crypto exchange that allows you to trade crypto with fiat, exchange the desired amount, and have your funds transferred to your card or bank account. After that, you can easily withdraw or spend your funds just like you do with your fiat currencies.

Q3. What is a custodial wallet?

A custodial wallet is a third-party service that allows you to store crypto, similar to a bank holding your fiat. With custodial wallets, you can skip the challenge of storing your private key, as you can rely on the company’s service to do it for you.

However, not all custodial wallets are safe and reliable. They are often targeted by hackers or phishing scams looking to gain access to your funds, and they may even be seized or frozen by legal authorities.

Q4. How can I improve the safety of my crypto assets?

Hackers often target cryptocurrency wallets, so their safety is more than essential. To boost the security of your funds, you should insist on encrypting your Bitcoin wallet using a strong password, use multi-factor authentication for exchanges and transactions, and ultimately store more significant amounts of crypto in a cold wallet.

Alternatively, you should consider distributing your funds over multiple addresses, or simply separating them into two different funds — one for stacking and another one for trading and spending. That way, even if one of your accounts gets hacked, you will still have access to the other one.

Wrapping Up On Best Crypto Wallet U.K.

The future of finance is crypto, and it is here to stay. Cryptocurrencies have managed to stick to Bitcoin’s promise and have delivered faster and easier transactions, improved security, and better transparency, along with many other benefits.

But if you are looking to experience the advantages of crypto over traditional banking, you will first have to find the best crypto wallet. Only after you have found a perfectly safe place to keep your assets can you start thinking about how to obtain and grow your stash.

Our best recommendation is to take another look at our “Best Crypto Wallet U.K.” list and find a reliable service to help you manage your digital assets.

So, go ahead and take the first leap towards the excitement that the future of finance holds for you!

LEAVE A REPLY

Please enter your comment!
Please enter your name here