Non-custodial cryptocurrency wallets have become increasingly popular among crypto investors looking to securely store their digital assets. Unlike custodial wallets offered by exchanges, non-custodial wallets give you full control over your private keys. This helps mitigate counterparty risk and prevents your crypto from being locked if an exchange is hacked.
In this comprehensive guide, we will explore the 15 best non-custodial wallets to consider in 2023 based on security, functionality, cost, and other key factors.
What is a Non-Custodial Cryptocurrency Wallet?
A non-custodial cryptocurrency wallet, also known as a self-custody wallet, is a wallet where only the owner has access to the private keys. This contrasts with a custodial wallet, where a third party like an exchange controls the private keys.
Key benefits of using a non-custodial wallet include:
- Full control over assets – only you can access or move funds
- Enhanced security – reduced risk from hacks/breaches of exchanges
- Improved privacy – no need to verify identity to use wallet
- Accessibility – ability to use wallet on multiple devices
- No withdrawal limits or fees – control over making transactions
Non-custodial wallets come in two main forms:
Hardware wallets – Physical devices dedicated solely to securely storing crypto funds offline. Transactions must be manually approved on the device via buttons.
Software wallets – Apps/programs that allow you to store, receive, and send crypto. The private keys are stored on your computer or mobile device.
Below we explore the top options across both categories to consider in 2023.
Best Non-Custodial Hardware Wallets
1. Ledger Nano X
The Ledger Nano X is one of the most popular and advanced hardware wallets available. Key features include:
- Supports 1,800+ cryptocurrencies
- Large color touchscreen for ease-of-use
- Built-in Bluetooth connectivity to mobile devices
- CC EAL5+ certified for security protections
- Backed by Ledger‘s industry-leading 10+ years of experience
With robust native app support and highly intuitive controls via the touchscreen and buttons, the Ledger Nano X offers a best-in-class hardware wallet experience. It retails for $149.
2. Trezor Model T
Trezor pioneered hardware wallets, launching the first-ever commercially available unit in 2014. The premium Model T improves upon past versions with:
- Support for 1,600+ cryptocurrencies
- Vibrant touchscreen
- Advanced security features like longer PIN codes
- Open-source software for transparency
- Shamir Backup for added seed phrase protections
Priced at $219, the Trezor Model T bundles next-gen hardware and software for power users. It remains among the most trusted names in hardware wallets.
3. Ellipal Titan
The Ellipal Titan is the most secure air-gapped hardware wallet available today. Key security features include:
- 100% offline transactions for "cold storage"
- Anti-disassembly design
- AES-256 encryption
- Secure element chip
- No Bluetooth/WiFi/USB connectivity
By never connecting to any network, the Titan achieves best-in-class defenses against hackers. $169 gets you uncompromising security for your crypto assets.
4. KeepKey
KeepKey delivers core hardware wallet functionality at an affordable $59 price point. Notable features include:
- Sleek, easy-to-use client interface
- Supports 1,500+ crypto assets
- Built-in crypto swap functionality
- Top-grade hardware protections
For those wanting premium security without advanced features or mobile connectivity of costlier rivals, KeepKey is a compelling budget pick with essential utilities covered.
5. BitBox02
BitBox02 is a rising star hardware wallet noted for its unique security architecture centered around dual chips. Benefits include:
- MicroSD card encrypted by secure chip for backups
- 2nd verification chip for transaction validations
- Open-source software for transparency
- Supports 1,000+ cryptocurrencies
Developed by privacy-focused Swiss company Shift Crypto, the BitBox02 offers advanced security with multi-signature capability. It starts from ~$150.
Best Non-Custodial Software Wallets
1. MetaMask
With over 30 million users, MetaMask is the most popular software wallet thanks to its browser extension convenience and deep DeFi/dApp integration. Beyond its core software wallet functionality, you also get:
- Interoperability across numerous DeFi protocols and dApps
- Customizable gas fees and transaction speed options
- Built-in crypto swaps facility
- Top-notch mobile app versions for iOS and Android
MetaMask makes accessing everything Web3 has to offer simple while still letting you control your keys. And it‘s free!
2. Exodus
Exodus is likely the smoothest desktop software wallet available. It offers:
- Support for over 130 assets and 50 blockchains
- Beautiful intuitive interface and designs
- Built-in exchange via integration with over 20 partners
- 24/7 human support
- Custom token addition capability
Those wanting a straightforward path to storing and growing their crypto portfolio will find Exodus strikes the right balance between form and function.
3. Trust Wallet
Boasting over 60 million users, Trust Wallet is a versatile HD software wallet packed with functionality, including:
- Natively integrated DEX swap capabilities
- Support for NFTs and over 160 chains/tokens
- Multi-coin staking features
- Open-source codebase
- Top-grade security protections for keys
Acquired by and integrated with the Binance ecosystem, Trust Wallet provides a springboard to advanced crypto applications while still retaining non-custodial architecture.
4. Coinbase Wallet
As the official self-custody wallet by the Coinbase crypto exchange, the Coinbase Wallet grants users:
- Ability to earn interest and rewards on assets
- Integrations with popular DeFi apps/protocols
- Backed by publicly-traded $COIN for trust
- Insurance coverage against losses
- Top-tier convenience features like cloud backup
For U.S. crypto traders especially, Coinbase Wallet presents a compelling intersection of crypto finance and self-custody.
5. Atomic Wallet
The multi-platform Atomic Wallet boasts over 300,000 monthly active users. Benefits include:
- Support for 500+ coins/tokens
- Built-in decentralized exchange Atomic Swap
- Weekly rewards via native token staking
- UX tailored for simplicity
- Entirely non-custodial open-source wallet
Atomic Wallet aims to bring non-custodial wallets into the mainstream with new-user friendly design paired with serious security.
Other Notable Non-Custodial Wallets
Here are a few more excellent non-custodial wallets that didn‘t quite crack our top picks but may suit specific interests or use cases:
SafePal – User-friendly beginner Bitcoin/crypto wallet available on mobile and desktop. Has cool hardware wallet integration capabilities.
OKX Wallet – Feature-rich wallet developed by crypto exchange OKX. Good for power users wanting exchange connectivity.
XDEFI Wallet – Specialized browser extension wallet focused on DeFi and dApps. Quality option for Web3 diehards.
How To Select the Right Non-Custodial Wallet
With so many non-custodial wallets now available, it‘s essential to assess your unique needs when deciding on the right option. Key factors to consider include:
Supported Assets – If holding specific altcoins, double check they are compatible
Security Features – Look for critical protections like seed phrase encryption
Cost – Factor in both purchase price and network fees
Accessibility – Will you want mobile, desktop, or hardware accessibility?
Ease-of-Use – Don‘t overlook the importance of intuitive interfaces
Customer Support – Response time can be crucial for issues
For most mainstream crypto investors, leading hardware wallets like the Ledger Nano X or software options like Exodus should sufficiently meet security and usability needs. Heavy traders may opt for hot wallet/exchange integrations like Coinbase Wallet or Trust Wallet.
Those looking to maximize holdings in DeFi should choose MetaMask for its deep dApp/protocol connectivity. And cybersecurity diehards wanting uncompromised offline protections will love the Ellipal Titan.
Frequently Asked Questions
Below we answer some commonly asked questions about non-custodial cryptocurrency wallets to further assist with your research and decision-making.
What‘s the difference between a custodial wallet and non-custodial wallet?
The core difference lies in who controls the private keys and thus has access to the funds.
For custodial wallets provided by exchanges/services, they secure the keys. This means you must trust them to not misuse keys or get hacked.
With non-custodial wallets, only you as the owner have the private keys. This eliminates counterparty risk but also means you alone are responsible for not losing them.
Are non-custodial wallets only available as dedicated hardware devices?
No. While hardware wallets like the Ledger and Trezor remain popular for their unmatched offline security, non-custodial wallets also come in software form.
Options like Exodus, MetaMask, and Trust Wallet allow you to retain control of keys while still having apps accessible across devices. The trade-off is they can carry higher risk of malware/hacks compared to standalone hardware.
How do I choose between non-custodial software and hardware wallets?
We generally recommend hardware wallets for large crypto holdings you plan to mostly buy-and-hold or just make occasional transfers with. This “cold storage” locks them down tight.
For more actively trading or users just getting started, begin with software wallets. They provide more convenient everyday access across devices while still offering solid security just via software encryption rather than dedicated hardware.
Over time, you may opt to get a hardware wallet for long-term savings even if also keeping some spending money in software wallet.
What crypto assets can I store in a non-custodial wallet?
Most non-custodial wallets today support all major cryptocurrencies like Bitcoin, Ethereum, stablecoins, and various altcoins.
Many also now allow storing NFTs as well. You‘ll want to check for compatibility with the specific assets you own before selecting a wallet.
Leading options from brands like Ledger, Trezor, and Exodus support 1,000+ cryptos and tokens – more than sufficient for most.
Conclusion
Non-custodial wallets enable you to truly be your own bank by solely controlling your cryptocurrency private keys. This brings security and privacy advantages over relying on exchanges.
When selecting a non-custodial wallet, be sure to assess supported assets, security features, costs, accessibility methods, ease-of-use, and other aspects against your specific needs.
Top hardware wallet picks include the Ledger Nano X, Trezor Model T, Ellipal Titan, and KeepKey.
Leading software options include MetaMask, Exodus, Trust Wallet, Coinbase Wallet, and Atomic Wallet.
Adopting sound password hygiene and backup procedures – like storing seed phrases offline – is also critical for safely leveraging the benefits of non-custodial wallets long-term.
