Which encryption wallet to choose in 2024? This comparison saves those with choice anxiety.

The most frequently asked question by new frens is: which Wallet should I use? With so many options available on the market, it can really be overwhelming. Today, let's clarify the differences between Hot Wallets and Cold Wallets, and how to choose them for different scenarios.

Hot Wallet vs Cold Wallet: A Summary in One Sentence

Hot Wallet (like MetaMask, Trust Wallet): Always available, but the risks are the same as using the internet on your phone - convenience also means it's easy to get phished. Suitable for frequent traders and those who play DeFi.

Cold Wallet (hardware wallets like Ledger, Trezor): It's like printing coins on paper and locking them in a safe, maximizing security, but it's not as convenient to use. Especially suitable for those who want to hold large amounts of assets for the long term.

Hot Wallet Recommendations (Categorized by Scenario)

Beginner's Choice: Coinbase Wallet

• The interface is extremely simple, beginners will basically not get stuck.
• Can transfer coins directly from Coinbase, seamlessly connected
• Support for NFT and DeFi applications
• Price: Free, only pay network fees

Essential for Ethereum Players: MetaMask

• Industry standard, the smoothest integration with DeFi platforms.
• Built-in DEX aggregator, the swap price is generally more favorable.
• Support staking to earn interest
• Price: Free, a 0.875% fee is required for the swap

Mobile users' favorite: Trust Wallet

• The mobile experience is the best, supporting 4.5M+ assets
• Supports 65 public chains, the strongest multi-chain compatibility.
• Staking and swap do not incur additional fees.
• Price: Completely free

Desktop Player: Exodus

• The desktop UI is the most elaborate, making it very comfortable to watch the market in real-time.
• Can connect to Trezor hardware Wallet, safer when combined
• Built-in Exchange
• Price: Free, swap transaction fee

DeFi Heavy Users: Crypto.com DeFi Wallet

• Can directly connect to DeFi protocols without jumping out.
• The staking rewards for CRO are quite high.
• Price: Free, charges apply as per agreement

Security Maniac: ZenGo

• This is a bit special, using biometric recognition + threshold cryptography, no need to manage private keys.
• Don't worry about losing your seed phrase
• Price: Free download, advanced features charged per use

Cold Wallet Recommendations (Security First)

Most Balanced Choice: Ledger Nano S Plus

• Supports 5500+ cryptocurrencies, covering almost all mainstream coins.
• Compact and portable, military-grade chip
• Price: about $79, which is relatively affordable.

Newbie Cold Wallet: KeepKey

• The screen is large, and the operation is intuitive.
• Built-in ShapeShift can directly swap
• Price: $49, one of the cheapest hardware Wallets

Ultimate Fortress: Ellipal Titan

• Completely offline (no USB/Bluetooth/WiFi), known as the pinnacle of Cold Wallet.
• Metal casing, anti-violent disassembly
• Supports 10,000+ assets
• Price: $169, high-end positioning

Balanced: SafePal

• Combines the ease of use of Hot Wallets with the security of Cold Wallets.
• Supports 30+ public chains
• Price: $49.99, cost-effective

How to choose? Three dimensions for reference

1. Purpose

• Frequent trading → Use Hot Wallet (MetaMask/Trust Wallet)
• Long-term lockup → Use Cold Wallet (Ledger/SafePal)
• Play DeFi → Use Crypto.com or MetaMask

2. Asset Scale

• <1000U → Use Hot Wallet casually
• 1000-10000U → Consider Cold Wallet or withdraw regularly

• 10000U → must use Cold Wallet or multi-signature scheme

3. Technical Level

• 小白 → Exodus/Coinbase Wallet
• Getting Started → MetaMask/Trust Wallet
• 老手 → Ledger/KeepKey

Final Words

There is no perfect Wallet, only better options. It is recommended that most people use a multi Wallet solution:

• Put the big head (70%) in the Cold Wallet for long-term storage (Ledger or SafePal)
• Small amount (30%) in Hot Wallet for daily use (MetaMask or Trust Wallet)

This ensures both security and convenience. What's particularly important is: no matter what Wallet you use, write down the seed phrase and lock it in a safe, and never share it with anyone. This is the essence of self-custody – your coins are yours, provided you can properly safeguard the keys.