Best Mobile Crypto Wallets in 2022

When you choose a mobile crypto wallet, you may notice that every service claims to be the most secure and convenient. But which one of them really is the best?

We recommend you pick the platform to store your crypto coins in two steps. First, filter out the wallets that don’t meet the basic security and usability criteria. Second, specify your needs — to choose the service that will fit you best. This article helps you take these two steps and introduces you to the list of the best mobile crypto wallets in 2022.

Mobile Wallet Advantages

There are two reasons why many people prefer mobile wallets to web-based and desktop ones: cryptocurrency is always accessible wherever you are; mobile wallets are more secure than their counterparts.

Higher level of security

Web-based wallets are considered as the least secure ones. First, hackers can easily obtain your crypto by phishing — websites that mock the wallets collect your passwords and steal the funds. Two-factor authentication in web wallets can be bypassed, especially if it works via SMS. As for desktop wallets, they are vulnerable as the PC has a high chance to be infected with malware. Trojans and keyloggers trying to intercept your passwords are all around.

Andreas Antonopoulos claims that mobile wallets are free from these shortcomings. The chance to get them infected is much lower, and there are more means to control your private keys, including seed phrases and other tools.

More convenient for daily use

To use your hardware wallet, you first need to connect it to a phone or PC. To operate a desktop wallet, you need to access your laptop or PC as well. With mobile wallets, your crypto is always at hand irrespective of where you are — if the phone is with you, you can check your balance or send a transaction anytime.

Some wallets are mobile-only

There are crypto wallets that have been created for mobile users only, so you can’t leverage their security and convenience from a computer. NOW Wallet is an example of such safe and easy-to-use wallets available for iOS and Android only.

How to Choose a Mobile Wallet?

Mobile wallets differ by several criteria, and you can understand how good the wallet is and how well it meets your needs by asking a few questions.

Is it a non-custodial wallet?

A custodial wallet works just like a Google account — you can access your coins with a login and password but don’t have full control over your funds. As the custodian stores the private keys, they have a technical ability to limit your access to crypto due to any reason.

In non-custodial wallets, you own the private keys, and no one but you can reach them, including the wallet team. Thus, you are the only person who has the opportunity to operate with your crypto.

Non-custodial wallets are the preferred way to store digital coins. Keeping your funds there also means you have the full responsibility for them — if you lose access to your crypto, no one will be able to help you regain it.

Is it a secure wallet?

Make sure the wallet provides a seed phrase — a unique combination of 12 or 24 words that helps you enter the wallet from another device or restore access in case you forget the password or lose the device. A seed phrase is a necessary minimum for the safety of your funds. PIN code, 2FA, and other security options will be an advantage of the wallet.

How well does the wallet work?

Search for user reviews — they might help you detect some problems with the wallet. These can include a slow sync with the blockchain, troubles with sending transactions and updating balances, etc.

Bad reviews, however, are not always a sign that the wallet is not worth it. Someone may have installed a fake copy of the wallet (and fraudsters used it to steal the money), but still roasts the original service. It’s useful to check how the wallet team responds to those bad reviews.

Are my coins supported?

If you already know what coins you are going to store, check if the wallet supports them. If you are not sure what your portfolio will look like, consider wallets that allow for storing as many coins as possible. For instance, in NOW Wallet, you can keep over 350+ cryptocurrencies. Good wallets are usually multi-asset, though there are some single-currency wallets that are worth your attention.

Is there support for NFTs and dApps?

If you want to have the opportunity to interact with Ethereum-based and other dApps, decentralized exchanges, and blockchain games, make sure your wallet has a built-in browser for decentralized applications. If you own some NFTs or consider buying some, NFT storage is another feature that you’d want to have in your mobile wallet.

Is there a built-in exchange, staking, and other features?

There might be some specific features that you’d like to enjoy in your wallet — check if they are available. These can be a built-in crypto exchange tool (for swapping BTC to ETH or some less mainstream coins), an opportunity to purchase crypto for fiat or withdraw it, staking, crypto loans, or something else.

5 Top Mobile Crypto Wallets in 2022

Now that you know the criteria for choosing a wallet, we will list some of the best options available in the market at this moment.

NOW Wallet

NOW Wallet is a brainchild of ChangeNOW — one of the top instant crypto exchange services. Inspired by the community and years of experience in the crypto swaps niche, this secure wallet offers a lightweight solution for storing your coins in an intuitive interface. NOW is a non-custodial wallet available for iOS and Android. You can use it to keep over 350 different coins.

NOW Wallet has a built-in exchange powered by ChangeNOW, no extra fees apply compared to the swap tool on the website. Here, you can buy or sell your crypto for fiat. Staking is available for BNB coin, new assets will be added soon. Also, if you own some NOW Tokens, you can store them in NOW Wallet and stake with an APR up to 25%.

Guarda Wallet

Guarda is a non-custodial wallet that allows you to store coins on over 50 blockchains. The app is available for iOS and Android, and you can also access it on PC or in a web browser.

Besides multi-asset crypto storage and a user-friendly interface, Guarda offers some advanced features. For instance, you can stake 14 assets from ADA to ATOM and ZIL for an APR of 10% and more.

Also, you can get a crypto loan with Guarda right in the wallet app — anonymously, without registration and credit checks. To get a loan starting from $100, simply learn about the conditions and leave collateral — this will take you just a few minutes.

Trust Wallet

Trust is a wallet created by the team of Binance. However, unlike the exchange, it’s non-custodial — there are no accounts and KYC, and you are the only one to control your funds. Hundreds of coins are available.

Trust is a web3 wallet — it has a built-in dApp browser where you can enjoy using decentralized exchanges such as Uniswap, PancakeSwap, or other applications built on Ethereum or Binance Smart Chain. In Trust Wallet, you can manage your liquidity pools or involve in any other yield farming activity.

The wallet supports NFTs, so you can use it to buy, store, and sell collectibles. Simply connect Trust Wallet to an NFT marketplace, and you’re good to go.

Mycelium Wallet

Some of the mobile wallets were created for storing one specific coin. Mycelium is among them — and it is one of the oldest crypto wallets overall, allowing users to store Bitcoin from 2011. It’s fully transparent and secure — the wallet is open-source, so it has been studied independently and proved its credibility. In addition to Bitcoin, Mycelium has added 20 other assets for storage — now, you can use it to keep Ethereum, ERC-20 tokens, and some stablecoins.

Mycelium is a mobile-only wallet available for Android and iOS. It has a built-in swap tool where you can buy or exchange Bitcoin. There are also some extra security features — for instance, you can erase your private keys from the device and return them when necessary.

Which Mobile Wallet Should I Choose?

It’s easier to select a wallet when you understand exactly what you need. First, filter out poor and insecure options — custodial wallets, services with bad reputation, platforms that don’t have a seed phrase feature or offer an inconvenient interface.

Second, decide based on the wallet’s features. If you need a lightweight multi-asset wallet with a built-in exchange, use NOW Wallet. For staking and crypto loans, pick Guarda. If you need to access dApps, Trust Wallet will work. If a proven open-source Bitcoin wallet sounds good to you, choose Mycelium.

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