11 Best DeFi Wallets in Jun 2024 (Tested)

Decentralized finance (DeFi) is undeniably revolutionizing the crypto world by offering innovative financial products that enhance access to a range of financial services. However, navigating this dynamic landscape necessitates the use of a DeFi wallet. These wallets are essential tools, enabling users to interact seamlessly with DeFi applications and harness their full potential.

The question then arises: which are the best DeFi wallets, be it hot or cold? Keep reading to uncover the top picks in this ever-evolving space.

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Best DeFi Wallets in Jun 2024

Before choosing the best DeFi wallets, you should consider some important factors like features, fees, security, and reliability. Also, consider the compatibility and interoperability of the wallets with different DeFi platforms and protocols.

Here is our list of the best DeFi wallets for 2024 :

  1. Ledger: Best Hardware Wallet for Decentralized Finance
  2. MetaMask: Best DeFi Wallet For Ethereum dApps
  3. Trust Wallet: Best Crypto Wallet for BNB Chain
  4. Argent Wallet: Top Decentralized Wallet for Beginners
  5. Guarda Wallet: Best DeFi Crypto Wallet for dApps
  6. Crypto.com Wallet: Top DeFi Exchange Wallet
  7. Eidoo Wallet: Best DeFi Web Wallet for ERC-20 Tokens
  8. Edge Wallet: Best DeFi Wallet for Lending and Staking
  9. Coinbase Wallet: Best Non-custodial Crypto Wallet
  10. Trezor Wallet: Top DeFi Cold Wallet
  11. Bitget Wallet: Best Multi-Chain Web3 DeFi Wallet

Ledger

ledger wallet homepage

The last two wallets on our list of DeFi wallets are hardware wallets. First up is Ledger, a hardware wallet that supports the storage and easy management of Bitcoin, Ethereum, and other digital assets. Ledger is an ideal choice for those looking for a secure and reliable option to store their crypto funds.

Ledger also integrates with popular software wallets like MetaMask, allowing users to manage their private keys offline. Additionally, Ledger offers a mobile app for tracking your portfolio.

Pros of Ledger

  • Supports multiple digital currencies
  • Integrates with popular software wallets
  • Offers a mobile app for tracking your portfolio
  • Extensive security features with SE chip
  • “Ledger Recover” feature to store your seed phrase in three parts 

Cons of Ledger

  • Not supporting all coins and blockchains
  • Not use friendly as hot wallets
  • Need to connect with software wallets for dApp integration.

ledger nano x 1

User Score

8.8

Supports 5,500+ tokens

Free shipping

Bluetooth enabled

MetaMask

metamask homepage

Arguably the most recognized wallet for DeFi available today is MetaMask. This wallet is perfect for managing, receiving, and sending Ethereum-based ERC20 cryptocurrencies and BNB Chain-based BEP20 tokens. MetaMask also supports layer-2 solutions, such as Polygon, making MetaMask become one of the most versatile DeFi wallets on the market.

One of the best things about MetaMask is that it’s available on various platforms. If you want to take MetaMask with you on the go, you can download it on either your iOS or Android smartphone or tablet. You can also access it through browser extensions on your laptop or desktop computer. MetaMask is available through popular browsers like Brave, Chrome, and Firefox.

With MetaMask, users can leverage all the solutions and services provided by decentralized finance technology. It’s easy to use, which means you don’t have to be a crypto expert to enjoy the dApps available on the MetaMask platform.

Pros of MetaMask

  • Crypto wallet for iOS, Android, Brave, Chrome, and Firefox
  • Open-source wallet
  • Integrates with Ledger wallets
  • Coinbase and Shapeshift exchange integrations
  • Users can set gas fees based on the urgency of the transaction

Cons of MetaMask

  • Some networks need to be added manually
  • No desktop application
  • 0.875% flat fee charge for services

Related Article: How To Keep Your Funds Safe with MetaMask

Trust Wallet

trust wallet homepage

Another popular DeFi crypto wallet is Trust Wallet, which supports a variety of digital currencies. This wallet is blockchain agnostic, which means it can trade and store almost any cryptocurrency on any blockchain. Like MetaMask, Trust Wallet aims to provide a simple and easy-to-use interface for its users. That means even new users can quickly access dApps and use the available products and services.

Trust Wallet also offers security features that keep data and information private. For example, users can perform a quick and simple backup that ensures they don’t lose their cryptocurrency in case of a mistake. Trust Wallet also supports decentralized exchanges and is available on desktop, mobile, and web platforms.

Pros of Trust Wallet

  • Supports a variety of digital currencies, including Ethereum, EOS, NEO, and TomoChain
  • Integrates with Ledger hardware wallets for added security
  • Available on desktop, mobile, and web platforms
  • Easy-to-use interface
  • Perform yield farming and earn passive income
  • Fast transaction speeds

Cons of Trust Wallet

  • No crypto cold storage
  • iOS built-in dApp browser is not available
  • No Desktop app

Related Article: MetaMask vs Trust Wallet: Which One is Right for You?

Argent Wallet

agrgent wallet homepage

Next up on our list of DeFi software wallets is Argent Wallet. This wallet is perfect for those who are new to the world of decentralized finance, as it offers a beginner-friendly interface. With Argent, users can easily and quickly access DeFi products and services. 

Argent also prioritizes security, offering features like biometric authentication, two-factor authentication, and a recovery phrase. These security features ensure that users’ data and information are safe and secure. Argent is available on both iOS and Android devices.

Pros of Argent Wallet

  • Supports a variety of digital currencies
  • Offers a beginner-friendly interface
  • Features biometric authentication, two-factor authentication, and a recovery phrase
  • Earn up to 10% APY on Ether staking

Cons of Argent Wallet

  • Only support Ethereum and its Layer-2 networks
  • No desktop application
  • Relatively small user base

Guarda Wallet

guadra wallet homepage

Guarda Wallet is a popular choice for those looking for a secure and easy-to-use DeFi crypto wallet. This wallet supports a variety of digital currencies, including Ethereum, Bitcoin, Litecoin, and more. Guarda also offers an in-wallet exchange so that users can quickly and easily swap between digital currencies.

This decentralized wallet also offers a variety of security features, including multi-step verification and two-factor authentication. Additionally, its backup recovery phrase ensures that users can recover their funds in the event of a mistake or loss.

Pros of Guarda Wallet

  • Support for multiple blockchain networks
  • Integrates with Ledger hardware wallets
  • Recoverable backups via a 12-word recovery phrase
  • Integrated dApps and Ethereum browser
  • Fast transaction speeds

Cons of Guarda Wallet

  • High fees for in-app purchases (4.5 to 5.5%)
  • Not all coins are supported for staking
  • Not open-source code

Crypto.com Wallet

cryptocom wallet homepage

If you want complete control over your private keys and digital assets, then Crypto.com might be the DeFi hot wallet you’re looking for. This wallet is focused on providing users with deep security and control over their private keys. It also has a crypto exchange.

By using the Crypto.com wallet, users have access to a variety of dApps from a single platform. Users can easily store, swap, or transfer their favorite digital assets without a third-party (centralized) service. Crypto.com supports over 300 assets, including Ethereum-based ERC20 tokens.

Crypto.com also allows users to stake or farm assets and become part of a liquidity pool to earn profit with their cryptos. With a user-friendly interface and excellent security features, this wallet is a great starting point for those new to cryptocurrency or DeFi.

Pros of Crypto.com

  • Complete control over your private keys
  • Supports a variety of digital currencies
  • Offers a mobile app for tracking your portfolio on the go
  • Extensive security features

Cons of Crypto.com

  • Not all dApps are supported
  • Complex to use than its Crypto.com centralized exchange

Related Article: Best Ways To Earn Passive Income With Crypto.com

Eidoo Wallet

eidoo wallet homepage

For those looking for a wallet that offers access to DeFi products and services and easy interlinking with other digital currencies, the Eidoo Wallet might be an ideal option.

Eidoo supports Ethereum-based tokens and ERC20 protocols, allowing users to quickly access DeFi products like lending, staking, and more. This wallet also offers a built-in exchange so that users can easily swap between digital assets.

Eidoo also emphasizes security, offering features like multi-factor authentication and a recovery phrase. These features ensure that users’ data and information are safe and secure.

Pros of Eidoo Wallet

  • Access to a variety of dApps and Ethereum-based products
  • Support for multiple blockchains
  • Built-in exchange with fast transaction speeds
  • Intuitive, user-friendly interface

Cons of Eidoo Wallet

  • No browser extension for dApp connectivity
  • Closed source code
  • User interface may be overwhelming for beginners

Edge Wallet

edge wallet homepage

Next up on our list of decentralized wallets is Edge Wallet. This wallet is available on various platforms, including iOS, Android, Windows, and macOS. Edge Wallet also offers an extension for Google Chrome. With Edge Wallet, users can easily store a variety of cryptos and assets in one centralized location.

Users can also access DeFi products like lending and staking directly from their wallets. This wallet supports Ethereum-based ERC20 tokens and protocols, making it easy to use decentralized applications. Edge Wallet provides fast transaction speeds and an easy-to-use interface, making it perfect for those new to cryptocurrency or DeFi.

Pros of Edge Wallet

  • Support for multiple blockchain protocols
  • Integrates with popular hardware wallets like Ledger Nano S
  • Excellent user support options
  • Fast transaction speeds

Cons of Edge Wallet

  • Only 130 crypto assets are supported
  • Not highly adopted by users
  • Not secure as a hardware wallet

Related Article: 8 Best Staking Wallets

Coinbase Wallet

coinbase wallet homepage

Coinbase Wallet is another excellent option if you’re looking for a safe and secure decentralized wallet. This wallet offers a variety of security features, including multi-step verification and two-factor authentication. Additionally, its backup recovery phrase ensures that users can recover their funds in the event of a mistake or loss.

Coinbase Wallet also supports multiple blockchain networks and integrates with popular hardware wallets like Ledger Nano S. Its fast transaction speeds and user-friendly interface make it a great option for those new to cryptocurrency or DeFi.

Pros of Coinbase Wallet

  • Multi-step verification and two-factor authentication
  • Backup recovery phrase
  • Supports multiple blockchain protocols
  • Integrates with popular hardware wallets
  • Fast transaction speeds
  • User-friendly interface

Cons of Coinbase Wallet

  • Only support EVM-compatible network NFTs
  • Keys are stored on your local device (may be subject to online attacks)
  • Source code is not publicly visible

Trezor Wallet

trezor wallet homepage

Lastly, Trezor is another excellent hardware wallet for those looking for a secure way to store their digital assets. Trezor supports Bitcoin, Ethereum, and other popular digital currencies. Additionally, it integrates with popular software wallets like MetaMask, Coinbase Wallet, and Eidoo.

Trezor also offers a variety of security features, including two-factor authentication, non-custodial cold storage, and a PIN code. These features ensure that your digital assets are safe and secure. Additionally, Trezor offers a mobile app for tracking your portfolio on the go.

Pros of Trezor

  • Supports multiple digital currencies
  • Integrates with popular software wallets
  • Offers a mobile app for tracking your portfolio
  • Extensive security features
  • Two-factor authentication
  • PIN code protection

Cons of Trezor

  • Only support 1456+ crypto assets
  • Required technical knowledge for initial setup
  • Does not have a battery (it only works when plugged-in) 

Related Article: Ledger Vs Trezor: A Full Comparison of the 2 Most Popular Cold Wallet Brand

Bitget Wallet

bitget wallet

Bitget Wallet is a decentralized crypto wallet that supports more than 90 blockchain networks and over 255,400 tokens. It allows users to manage their crypto assets securely, swap tokens across different chains, explore various NFTs and DeFi protocols, and participate in IWOs (initial wallet offerings). 

It also provides a special DESM (Double Encryption Storage Mechanism) and a Secure Asset Fund to protect users’ assets from theft or loss. Bitget Wallet has over 8 million users worldwide and claims to be the largest decentralized wallet in Asia.

Key Features of Bitget Wallet are:

  • DApp Store: It supports 20,000+ DApps on various networks like ETH, BSC, Polygon, Solana, Arbitrum, etc.
  • NFT Market: You can search and buy NFTs with any token. Discover various NFTs from different networks and categories like art, gaming, sports, etc.
  • Market Data: Get real-time updates on token price movements, top gaining and losing tokens, and trading volume.
  • Availability: Bitget Wallet supports 168+ countries in 14 different languages. It is available as an Android and iOS app as well as a Chrome extension.

Pros of Bitget Wallet

  • Aggregate Liquidity from multiple DEXes
  • Multi-chain NFT Support
  • 90+ blockchain networks supported
  • Web3 dApp browser for multiple mainnets

Cons of Bitget Wallet

  • Relatively new DeFi wallet compared with some well-known competitors

Related Article: Top Cryptocurrency Wallets to Keep your Asset

Methodology: How to Choose the Best DeFi Wallet

To choose the top-rated DeFi crypto wallet for crypto storage and interacting with dApps, consider the following criteria:

  1. Security: Look for crypto wallets with robust security features and practices, such as strong encryption, two-factor authentication, and non-custodial control.
  2. Supported Assets: Check if the wallet supports a wide range of DeFi assets, including popular tokens and protocols you plan to use.
  3. User Interface (UI): Opt for a decentralized wallet with a user-friendly UI that provides easy navigation, clear information, and intuitive features.
  4. Compatibility: Ensure the wallet is compatible with your preferred operating system (e.g., iOS, Android) and compatible with the DeFi platforms you intend to engage with.
  5. Interoperability: Consider wallets that offer interoperability with other DeFi services, such as decentralized exchanges (DEXs) and lending platforms.
  6. Update Frequency: Choose a crypto wallet that receives regular updates and improvements to address any vulnerabilities and maintain compatibility with the evolving DeFi ecosystem.

What are DeFi wallets?

DeFi wallets are a type of wallet that lets you store your crypto assets without depending on a third-party service. They also enable you to access various DeFi products and services, such as borrowing, lending, trading, earning, and more.

These wallets support different blockchains and tokens, such as Ethereum, BNB Chain, Polygon, Solana, and more. You can connect to various dApps on these blockchain networks.

Comparison between Best DeFi Crypto Wallets

Multi-chain SupportDApp BrowserNFT SupportBrowser Extension
Ledger✘ (Use WalletConnect)✘ (only Beta Version for Safari)
MetaMask✓ 
Trust Wallet
Argent Wallet✘ (only Ethereum & L2’s)✓ (Use ArgentX)
Guarda Wallet
Crypto.com Wallet✘ (use Crypto.com exchange)
Eidoo Wallet✘ (only iOS and Android apps)
Edge Wallet
Coinbase Wallet
Trezor✘ (Connect Metamask)
Bitget Wallet
( The info is collected at the time of writing)

What is the Best DeFi wallet for Ethereum?

The best DeFi crypto wallet for Ethereum depends on what you want to do and explore on the network, but three of the most popular and easy-to-use ones are:

  1. MetaMask: This wallet lets you manage, receive, and send ERC20 tokens on Ethereum and Polygon. You can use it as a browser extension or a mobile app.
  2. Trust Wallet: You can connect it with Ledger wallets and decentralized exchanges on the ERC-20 network and use it on desktop, mobile, and web platforms.

Conclusion

DeFi wallets are essential tools for anyone who wants to access the decentralized finance ecosystem. However, not all DeFi cryptocurrency wallets are created equal. Some offer more features, security, and convenience than others. 

We have reviewed some of the best DeFi Web3 wallets available on the market today. We hope this guide will help you choose the best DeFi wallet for your needs and preferences. Remember always to do your own research and exercise caution when dealing with DeFi platforms. 

Best DeFi Wallets – FAQs

There are plenty of questions about cryptocurrency wallets in the decentralized space. Here are a few of the more commonly asked ones.

Which wallet is best for DeFi?

There is no one-size-fits-all answer to this question. Different wallets have different pros and cons. Some of the popular decentralized finance wallets are Coinbase Wallet, Ledger Nano X, MetaMask, and Trust Wallet. It would help if you compared these wallets based on security, usability, compatibility, blockchain network fees, and supported currencies.

Are DeFi wallets secure?

DeFi wallets give the users control over their private keys, which means you have complete control over what happens with your funds. Think of it as a digital version of a physical wallet. If you leave it lying around for someone to grab, that’s on you, but ultimately, you control what happens with the funds within it. 

What wallets are DeFi?

These wallets let you access and interact with decentralized finance applications and protocols. They support multiple blockchains and tokens, such as Ethereum, BNB Chain, Polygon, etc. These crypto wallets also let you do various things, such as swapping, lending, borrowing, staking, farming, or investing in DeFi products and services.

Can a DeFi wallet be hacked?

Yes, DeFi wallets can be hacked. Hackers constantly search for weaknesses in hot wallets or cold wallets. That’s why it’s important to keep your keys safe from those with malicious intent.

Which Decentralized Wallet is Best for You?

So which is the best wallet for decentralized finance? That depends on your needs and preferences. As you can see, there are plenty of decentralized wallets with an abundance of features. So whether you prefer a wallet that focuses on security or a wallet that provides support for various digital currencies, there’s one on our list of decentralized finance wallets that’s right for you.

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