Looking for a hot wallet to manage your crypto trading? Confused about the extensive options? Don’t worry, we have covered the top hot wallets to make your job easy.
The article covers the top-most popular hot wallets to use in 2025 in detail.
What are Hot Wallets?
Crypto wallets, including software or mobile applications that function by connecting to the internet.
Hot wallets have numerous advantages, including convenience, ease of use, fast transactions, accessibility through multiple devices, and seamless integration with web3 networks. They are free to download and easy to connect with Decentralized Apps (dApps).
Some of the most popular hot wallets are Metamask, Coinbase Wallet, Exodus, and Phantom. In this article, let’s explore these top hot wallets in detail.
1. Metamask
MetaMask is a non-custodial, popular beginner-friendly crypto wallet that seamlessly connects with decentralized apps (dApps) and web3 applications. It is available both as a mobile wallet and a browser extension. The wallet is easy to use and integrates with Decentralized Finance (DeFi) systems.
You can manage Ethereum (default) and any Ethereum Virtual Machine-compatible network through MetaMask. Some notable examples include Polygon and BNB Chain. Additionally, it is best for managing Ethereum-based tokens and NFTs as well.
Moreover, it is free to download. The platform may impose additional fees such as gas fees or service charges, depending on the nature of your transaction. Hardware wallet integration is another plus.
As it’s custodial, control over funds and private keys is entirely up to the users. The wallet also has a built-in swap mechanism.
| Pros | Cons |
|---|---|
| Hardware wallet integration | Can not be used for Non-EVM networks |
| Beginner friendly | No 2-factor authentication. |
| Free download | Fees are higher for certain transactions. |
| Multi-chain and multi-asset support | |
| Non-custodial supports Ethereum EVM-compatible networks | |
| Accessible through mobile and web | |
| Seamless integration with dApp, DeFi, and other web3 applications. |
2. Coinbase Wallet
The best aspect of this hot wallet is that it is integrated with the Coinbase platform. The Coinbase wallet is popular among both beginners and experienced users. It’s a self-custodial wallet, hence users have full control over the funds and private keys.
It supports more than a hundred cryptocurrencies. Can be used on the go through a mobile device. But it’s accessible via desktop as well. It is free to download. The wallet is easy to integrate with dapps.
It also has biometric authentication for added security.
| Pros | Cons |
|---|---|
| Self-custody of funds | Limited customer support |
| Accessible through mobile and web | |
| Free download | |
| Multi-chain and multi-asset support | |
| Seamless integration with dapps | |
| Advanced security features |
3. Exodus Wallet
It’s another hot wallet that supports more than 200 digital assets. It’s a beginner-friendly wallet with an in-built exchange system.
The Exodus wallet can be used both as a Browser Extension and a Mobile App. It seamlessly integrates with networks such as Bitcoin, Ethereum, Solana, and Cardano, and supports coins like BTC, ETH, and XRP. Additionally, it is compatible with EVM-compatible networks.
They provide 24/7 customer support. Exodus is also free to download.
| Pros | Cons |
|---|---|
| Self-custody of funds | No 2-factor authentication |
| 24/7 customer support | |
| Accessible through mobile and web | |
| Free download | |
| Multi-chain and multi-asset support | |
| User-friendly interfaces |
4. Trust Wallet
Binance owns this popular beginner-friendly wallet. It supports a wide range of network and Web3 applications. In fact, the Trust Wallet can manage over 100 digital assets.
The wallet can be used to connect with DeFi systems and dApps. It’s free to download and is accessible via both mobile and desktop. The Trust wallet has advanced security features built around encryption.
It supports a huge number of NFTs. Being the official wallet of Binance, it is interoperable with the platform. The wallet is free to use.
| Pros | Cons |
|---|---|
| Self-custody of funds | No 2-factor authentication |
| Supports a large number of cryptocurrencies, NFTs, and blockchains | Limited Customer Support |
| Free download | Delay in transactions during peak times. |
| Multi-chain and multi-asset support | |
| Beginner-friendly interface | |
| In-built trading integration |
5. Phantom
It’s another hot wallet that offers self-custody of funds. Phantom has extensive security features, including seed phrase backup, word recovery phrases, transaction previews, and face ID settings etc.
The wallet is easy to connect with dApps, DeFi, and other Web3 networks. It’s free to download and can be managed on mobile devices and desktops. Since it was originally built for Solana, the wallet is best for transactions on Solana.
It’s free to download as a browser extension or as a mobile application. On top of it, it offers asset management tools within its ecosystem.
| Pros | Cons |
|---|---|
| Self-custody of funds | Increased focus on Solance. |
| Best for Solana transactions | Certain features are not available for all cryptocurrencies |
| Accessible through mobile and web | |
| Free download | |
| Multi-chain and multi-asset support | |
| Seamless integration with dapps and NFT-friendly. | |
| Advanced security features | |
| Built-in scam detention |
Hot Wallets: Concerns and Best Practices
Since hot wallets are connected to the internet, they are vulnerable to cyber attacks like phishing attacks and hacking. Crypto experts suggest following certain best practices to avoid potential risks. They include:
- Store small amounts of your funds in the wallet
- Keep an offline wallet for holding large amounts.
- Utilize the security features, such as 2-factor authentication and seed phrase, provided by the platforms effectively to protect your funds.
- Follow all updates regarding software updates associated with the wallet you are using.
Final Thoughts on Top 5 Hot Wallets
Hot crypto wallets offer great convenience and ease of usage. But it’s not completely risk-free, similar to any software or app connected to the internet. To avoid such risks, follow the best practices mentioned above.
Using crypto wallets with a good reputation further reduces the risks. Some of the top hot wallets you can use are Metamask, Coinbase Wallet, Exodus, and Phantom.