Key takeaways:
- Choosing the right crypto wallet is crucial – Whether custodial or non-custodial, selecting a wallet that fits your needs is essential.
- Best crypto wallets 2025 – This guide breaks down the top wallets across Solana, Monad, and Ethereum, covering key features like multi-chain support, staking, security, and cross-chain swaps.
- Security best practices – To protect your assets, store seed phrases securely, use hardware wallets for long-term storage, separate wallets for different activities, and enable multi-signature signing where possible
Choosing the right crypto wallet can make all the difference between financial freedom and potential losses.
To help you get started, we’ve put together this guide to break down the best crypto wallets in 2025—what they are, which ones to consider, and how to keep your assets secure. Whether you're new to crypto or a seasoned investor, this guide is designed to help you navigate the landscape of crypto wallets safely and efficiently.
Ready? Let's go.
What is a crypto wallet?
A crypto wallet is software that allows you to store, send, and receive digital assets (crypto and NFTs) and interact with decentralized applications (dApps). Think of it as a digital vault for your crypto assets.
There are two primary types of crypto wallets: custodial and non-custodial. Choosing the right wallet depends on your priorities—convenience vs. control.
Custodial wallets
When you buy, sell, or trade crypto on a centralized exchange (CEX) like Backpack, Coinbase, or Binance, you’re using a custodial wallet. These wallets are controlled by the exchange, meaning they hold custody of your private keys.
This type of wallet comes with pros and cons. While exchanges have the power to restrict access to your assets, they also have the power to refund you and protect you against fraudulent crypto activity with features such as whitelisting and time-locked transfers.
Non-custodial wallets
If you prefer full control over your crypto, a non-custodial wallet is the way to go. These wallets allow you to manage your private keys directly, removing reliance on third parties.
There are two main types of non-custodial wallets:
Hot wallets
These are software-based wallets, typically in the form of browser extensions or mobile apps. (e.g. Backpack Wallet) Since they are always connected to the internet, this type of crypto wallet offers easy access but requires careful key and password management.
Cold wallets
These are hardware devices are designed to store crypto offline (e.g Trezor, Ledger, or Keystone). These devices are only exposed to the internet when you actively connect them, making them a slightly less convenient but more secure option for long-term storage as long as you are diligent with your security practices.
Top wallets by blockchain
Each blockchain ecosystem has specific wallets optimized for its features. Here are the best crypto wallets for Solana, Monad, and Ethereum.
Best Solana wallets
A crypto wallet enables you to interact with dApps and securely manage your digital assets. If you're looking to do this on the Solana blockchain, there are a few great options available.
Let’s explore the most popular choices.
Backpack
Since launch, Backpack Wallet has become the go-to choice for crypto-native users, establishing itself as one of the most trusted wallets in the industry.
With multi-chain support, seamless cross-chain swaps, an enhanced NFT experience, and industry-leading security measures, Backpack Wallet provides everything you need to navigate the world of crypto with confidence.
Comprehensive multi-chain support
Backpack Wallet offers native compatibility with multiple blockchains, including Solana, Ethereum, Monad, Eclipse, and Polygon, allowing you to manage assets, interact with dApps, and conduct transactions across different ecosystems—all from a single wallet. And there are even more chains coming soon!
Cross-chain swaps
Backpack Wallet makes cross-chain swaps effortless, thanks to its Wormhole integration, which enables smooth multichain interoperability. This means you can easily swap assets across different blockchains without relying on external bridges or complicated processes.
When you're moving assets between Solana, Ethereum, Monad, and other chains, Backpack ensures fast, secure, and cost-effective transactions—all within a single, user-friendly interface.
Industry-leading security features
Backpack prioritizes top-tier security, incorporating hardware wallet support for cold storage protection and multi-signature signing for enhanced transaction security, and NFT collection locking to prevent unauthorized transfers or scams. These features ensure maximum safety for you and your assets in an increasingly complex crypto landscape.
Best in class support
We know that crypto can be complicated! Our Backpack support team is here to help 24 hours a day, 7 days a week. We have team members across the world ready to help answer any questions or problems that come up. Contact our email support at support@backpack.exchange, try our chatbot, browse our support center or hop into our Discord to see our latest community conversation.
Solflare
- Solana’s first wallet – Solflare was the first wallet built exclusively for Solana, earning a reputation for security, reliability, and ease of use. Designed to support both newcomers and advanced users, Solflare provides an intuitive experience for managing SOL tokens.
- Staking – With their own validator in play, Solflare offers built-in staking functionality, allowing users to stake SOL tokens directly from their wallet and earn passive rewards.
Phantom
- NFT shortcuts - These provide a dedicated space for collectors, making it easy to view, manage, and showcase digital assets.
- Multi-chain support – Phantom provides compatibility across blockchains, allowing users to manage, send, and receive assets across multiple ecosystems from a single wallet. This multi-chain functionality ensures that users can interact with DeFi protocols, NFT marketplaces, and decentralized applications (dApps).
- Swapping - Phantom's built-in cross-chain swapping, enables users to trade tokens between supported blockchains with minimal friction.
Best Monad wallets
Backpack
Backpack wallet has been proud to support Monad from day 1. Backpack Wallet is the trusted choice for Monad users, offering a fast, secure, intuitive, and feature-rich experience.
With multi-chain support, effortless cross-chain swaps, advanced NFT management, and top-tier security, Backpack ensures you can seamlessly explore, trade, and store digital assets with confidence.
Other notable Monad testnet wallets include Metamask and Phantom.
Best Ethereum wallets
If you're looking for a do-it-all wallet Backpack also supports Ethereum and Polygon. All of our previously-mentioned features—Cross-Chain Swapper, NFT-locking, best in class security - are true for these chains as well.
Other notable Ethereum hot wallets include MetaMask and Trust Wallet.
MetaMask:
- MetaMask card - In collaboration with Mastercard, MetaMask has launched a card enabling users to spend cryptocurrency directly at participating merchants, bridging the gap between digital assets and everyday purchases.
- Open-source – MetaMask’s code is publicly accessible, ensuring transparency and allowing developers to audit and contribute to its ongoing development.
- Backed by Consensys – MetaMask is developed and maintained by Consensys, a leading blockchain company founded by Joseph Lubin, one of Ethereum's early contributors. Consensys plays a crucial role in Ethereum’s ecosystem.
Trust Wallet
- DApps - With Trust Wallet, you can bypass traditional web browsing to access various blockchain applications directly through your browser extension or mobile app.
- Enhanced token swaps - Trust Wallet enables you to swap tokens and coins with a wider selection and more competitive pricing than what you'll find on MetaMask.
- Open-Source - Trust Wallet's code is open and publicly available, ensuring transparency and community trust.
How to keep your crypto wallet safe?
Staying vigilant against scams, phishing attacks, and malicious actors is essential when dealing with crypto, NFTs, and DeFi applications. To help safeguard your digital assets, follow these best practices for wallet security.
Protect your secret phrase
When setting up a wallet, you’ll receive a 12 to 24-word secret phrase (also called a seed phrase). This acts as a master key to your funds—if lost or stolen, anyone can access your assets. Never share it with anyone and store it securely offline, such as in a hardware-encrypted backup or written on paper in a secure location.
Secure your wallet setup
If you're using a hot wallet (connected to the internet), link it to a cold wallet (hardware wallet like Ledger, Trezor or Keystone) before interacting with any dApps. This ensures a secure connection and prevents potential tampering before you start transacting.
Manage your assets safely
For larger and longer-term holdings, transfer your crypto and NFTs to a cold wallet as soon as you can. This removes them from online exposure, significantly reducing the risk of theft if your hot wallet is compromised. Even if a hacker gains access to your online wallet, they cannot drain assets stored offline.
Use multiple wallets for different activities
Maintain separate hot wallets for different purposes, such as trading, NFT minting, and dApp interactions and cold wallets for longterm storage. This minimizes risk by isolating transactions—if one wallet is compromised, your other assets remain protected.
Multi-signature signing
Multi-signature (multi-sig) signing is a security feature in crypto wallets that requires multiple private key approvals before a transaction can be executed. Instead of relying on a single private key (as in a traditional wallet), a multi-sig wallet distributes control among multiple parties or devices. We have a whole guide on how to multi-sig here.
Here's a quick recap of security best practices:
- Protect seed phrases: Never share your recovery phrase and store it securely.
- Secure your wallet setup: Link to hardware devices before interacting online.
- Manage your assets safely: move large investments to cold storage asap.
- Wallets for different uses:
- Hardware wallets: Store large amounts offline.
- Hot wallets: Smaller amounts for swapping, minting, dApps.
- Multi-sig: Look for wallets like Backpack that support multi-sig security across multiple hardware vendors.
By implementing these security measures, you can significantly reduce risk and ensure your crypto remains safe from hacks and scams.
How to set up a Backpack wallet?
Looking for a user-friendly multichain wallet for crypto, NFTs, and DeFi? Give Backpack a try. We support Chrome, Brave, and Arc through browser extensions, as well as iOS and Android apps for on-the-go access.
- Download & install – Choose your preferred platform and set up your wallet in minutes.
- Secure your wallet – Save your secret phrase safely to ensure full control over your funds.
- Enjoy web3! - Send, receive and swap crypto, and explore dapps through the explore tab.
Final thoughts
Selecting the right crypto wallet is critical for securing and efficiently managing your digital assets. Whether prioritizing ease of use, security, or specific blockchain compatibility, there's an ideal wallet for everyone. Take immediate action to secure your crypto investments—choose wisely, and transact confidently.
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Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Backpack. Please read our full disclaimer for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Backpack is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice.
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