Best Crypto Wallet UK 2024 – Top Bitcoin Accounts Compared

While investing in crypto in the UK is quite simple, you still need to consider how you plan to store your digital tokens. This is important because crypto assets are kept in wallets, which can be a mobile app, desktop software, or even a physical hardware device.

If you’re searching for the best crypto wallet in the UK for 2024, this guide reviews a pre-vetted selection of top-rated providers. With the crypto markets beginning to show signs of recovery, safeguarding your assets is essential.

Keep on reading to assess which of the above providers represents the best Bitcoin wallet in the UK for your requirements.   

The Best Bitcoin Wallets UK Reviewed

As covered in more detail later, the most important things to look for when picking the best bitcoin wallet UK are as follows:

• Security tools
• The convenience of sending and receiving funds
• Wallet type – e.g. mobile or desktop
• Exchange and investment features
• User-friendliness 

In the UK crypto wallet reviews below, we focus on the above criteria in great depth. This way you’ll be able to buy Bitcoin UK and store your digital assets in a safe and convenient place. 

1. Best Wallet –  Overall Best Crypto Wallet UK for 2024

Best Wallet is a new crypto wallet in the UK seeking to address the concerns with traditional wallets and our overall top crypto wallet for 2024.

As a decentralized, self-custody wallet it gives users complete control over their private keys offering autonomy over crypto holdings and allows users to purchase, trade and store tokens securely, with a built-in DEX to trade thousands of tokens.

The wallet’s multi-chain interoperability is a notable feature, facilitating the smooth integration of DeFi platforms across many chains. Such high-level user support is generally not observed in dApps, marking a potential turning point in how users manage their crypto assets.

However, while many wallets offer those services, Best Wallet’s other features make it stand out from the crowd and transform it from just another wallet to a leading DeFi platform. Best Wallet will be fully equipped to provide real-time insights into one’s portfolio, offering market movement updates to help them keep ahead of the rest of the market.

Additionally, with the native $BEST token, users can avail of exclusive advantages, from staking rewards and gas fee waivers to early access into hot new crypto presales and NFT drops.

Security remains a huge concern in the crypto world. Best Wallet offers advanced cryptographic techniques alongside multi-factor authentication and biometrics. Lastly, the wallet incorporates an integrated NFT gallery, allowing users to directly manage, purchase, sell, and trade NFTs.

Best Wallet’s roadmap further reaffirms its high aspirations. The initial stages focus on establishing fundamental wallet features, recording NFT transactions, integrating an AI-based chat function, and other crucial aspects. The subsequent stage looks appealing, introducing elements like a crypto news aggregator and a beginner-friendly Crypto 101 Education.

Best Wallet has just launched on Android and iOS as a  mobile app. While not all features are live at the time of writing, users will earn $BEST tokens for activity on the platform,with a token airdrop set to take place in the near future.

2. Crypto.com – Excellent DeFi Wallet for UK Traders

Crypto.com is one of the best new cryptocurrency exchanges in the UK and offers a wide range of interesting features to crypto traders. For starts, you can trade over 250 different coins with deep liquidity and low trading fees, and you can do this either on your mobile via the Crypto.com or by using the desktop exchange.

This UK crypto exchange offers its own proprietary non-custodial wallet for securely storing your coins. You can manage over 100 coins using the Crypto.com wallet, including all the major crypots and other ER20 tokens. It also allows you to farm and swap DeFi tokens directly from your wallet, with swap-free sharing and even bonus yieds for certain pools.

This is a crypto staking platform that allows you to earn up to 8.5% p/a on your coins, and up to 14% p/a on stablecoins!  We also buy NFTs on the platform, making it a very versatile exchange with something to suit crypto traders of all preferences. There’s also a Crypto.com VISA card which gives you to get 8% back on spending in CRO, the exchange’s own coin. You can also deposit crypto and get an instant loan without completing a credit check. 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. ZenGo – UK Wallet for Crypto, NFTs, DeFi Dapps

ZenGo is a versatile multi-asset and multi-chain Web3 wallet with a range of features, including support for connecting to Dapps and storing NFTs (non-fungible tokens) – making it also a top NFT wallet as well as a crypto wallet United Kingdom residents can use.

Founded in 2018, ZenGo have built up a good reputation in the cryptocurrency scene, now with 500,000+ users across 180 countries, including the UK. Notably ZenGo has a 4.78/5 rating on the App Store and Google Play (both iOS and Android devices are compatible).

As well as storing cryptocurrency tokens it’s possible to buy and trade Bitcoin, Ethereum and other top altcoins within the ZenGo wallet. Holders can also earn up to 8% APY on their assets automatically. Fans of crypto gaming can also use ZenGo to connect to their favorite gaming Dapps.

No complex seed phrase is needed – ZenGo provide a simple to use recovery kit that can be transferred to new devices if you lose your device, as well as 3-factor authentication and 3D biometric encryption for added security.

4. Binance – Ideal Crypto Wallet for Trading Bitcoin 

Binance is a huge global cryptocurrency exchange that attracts billions of dollars in daily trading volume and more than 100+ million Bitcoin accounts. The exchange offers a convenient web wallet that allows you to store your digital tokens with ease. Moreover, Binance has a SAFU (Safe Asset Fund for Users) tool in place in the event that the exchange is hacked. 

Binance is potentially the best Bitcoin wallet in the UK for users that wish to buy and sell digital currencies on a regular basis. This is because trading commissions amount to a mere 0.10% per slide. Moreover, Binance offers more than 1,000 trading markets – which cover both large-cap and small-cap tokens.     

If you prefer to keep your crypto investments in a non-custodial storage facility, you might also consider Trust Wallet – which is backed by Binance. This not only gives you access to virtually every blockchain network in this industry, but you can also access decentralized finance apps. Once again, you will be solely responsible for keeping your non-custodial wallet safe – so do bear this in mind.   

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.    

5. Huobi – Multi-Currency Crypto Wallet for Diversification    

Huobi is another crypto wallet on our list that is primarily known for its digital asset exchange services. The platform is home to millions of trading accounts and offers full support for a wide range of cryptocurrencies. This means that Huobi could be a good option if you are looking to store several digital tokens via a single hub. 

In terms of storage options, Huobi allows you to buy crypto via its website and keep the tokens in your portfolio. This means that behind the scenes, the tokens will be kept safe by Huobi. The other option you have is to download the Huobi mobile app – which is compatible with both iOS and Android devices.  

Both options give you access to a wide range of tools and features. For example, should you wish to exchange cryptocurrencies via Huobi, you will only pay a commission of 0.20% per slide. Moreover, you can use the Huobi Earn feature to generate interest in your cryptocurrency investments. The platform is also home to staking services and even crypto loans. 

6. Coinbase – Top Crypto Wallet UK for Beginners    

Next up we have Coinbase – which primarily operates as a cryptocurrency exchange – with the platform serving tens of millions of clients. Coinbase offers two storage options for you to choose from. First, you can download the Coinbase wallet app via Google Play or the App Store. This is a non-custodial wallet – which means you are responsible for keeping your private keys and backup passphrase secure.

In other words, if either of the above gets into the wrong hands – your wallet will be compromised and Coinbase will not be able to help you recover your stolen funds. If this seems like a daunting prospect, Coinbase also offers a custodial wallet. This means that you keep your crypto assets stored in your main online account – and Coinbase will take care of security.      

Some of the methods that Coinbase has in place to keep your funds safe include a requirement to set up two-factor authentication, and ensuring that 98% of client digital funds are stored offline, and executing extra verification steps when you login from a new device or IP address. Moreover, the Coinbase web wallet gives you access to brokerage and exchange services. 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.   

The Top 5 UK Crypto Wallets Compared    

In the comparison table below, you will find key statistics pertaining to the best crypto wallets in the UK that were reviewed above. 

What is a Bitcoin Wallet?

It is really important to have at least a basic understanding of how wallets work before you invest in Bitcoin and other cryptocurrencies. This is because a crypto wallet is not only required to send and receive funds, but more crucially – keep your digital tokens safe. 

In its most basic form, a crypto wallet is not too dissimilar to a current account. For instance, just like a current account, a crypto wallet is used to store your funds. Only, instead of storing dollars, a crypto wallet stores digital tokens.

Moreover, while current accounts allow you to send and receive funds – so do crypto wallets. In the case of the former, receiving money into your current account requires you to get the sender some key information. This includes your account number and sort code. 

With a crypto wallet, you would be required to give the sender your public address. You can share this with anyone of your choosing, as a public address simply allows people to send you funds. Your crypto wallet will also come with a private key. 

This can be compared to the login credentials for your online bank account. In other words, while you wouldn’t share these account details with anyone for security reasons, this is also the case with the private keys for your crypto wallet.  

Why Do You Need a Crypto Wallet?    

In theory, you don’t actually need a crypto wallet to invest in digital tokens, it can also be managed via an exchange or broker, although those are centralised and non-custodia.

The reason for this is that after you have completed your cryptocurrency investment – you are not required to withdraw your tokens to a private wallet.   

Instead, you can choose to leave your tokens where they are until you decide to cash out. And, when you do, you can do this in a matter of seconds by simply logging into your account. 

• However, if you want more control over your cryptocurrency tokens, you might consider transferring the funds to a wallet that only you have access to. 
• In doing so, you will not only be in control of your private keys and backup passphrase, but you can engage with the blockchain. 

Regarding the latter point, this means that you can directly send tokens to another wallet. Moreover, you can provide your public wallet address externally so that people can send you funds. 

How do Crypto Wallets Work?    

Although we explained the basics of how crypto wallets work earlier, it is important to dive a little bit deeper so that you have a firm grasp of what to expect. 

As such, this section will discuss the fundamentals of crypto wallets in great detail. 

Setting a Crypto Wallet Up

Once you have chosen the best crypto wallet for your requirements, you will need to set it up. By this, we mean creating a PIN for your wallet.

Next, you will also need to write down your backup recovery phrase. This is required in the event that you forget your PIN or you lose the device that the wallet is stored on.    

Funding Your Crypto Wallet Up

Once you have set your new crypto wallet up, it will, of course, be empty. As such, you will then need to transfer some cryptocurrency tokens from an external source – such as an exchange or another wallet. 

Public Address

In order to transfer tokens to your crypto wallet, you will first need to obtain your public address. It is really important to note that the public address that you provide to the sender must match the respective token. 

For example, if you attempt to send Ethereum to a Bitcoin wallet address – you can be sure that the tokens will be lost forever once the transaction is executed. 

Another thing to note is that when supplying your public address – be sure to use the ‘copy’ button provided within the wallet. This will ensure that you can be 100% confident you have copied the correct wallet address in its entirety.  

Sending Funds

For instance, if you want to transfer funds to an exchange, you would first need to obtain the public address from your Bitcoin account wallet. 

Once your wallet is funded with digital tokens, you can send the funds to another location at any given time. The process works the same as receiving funds but in reverse. 

Then, you would need to head back to your personal crypto wallet, paste in the address, and confirm the transaction. 

Note: In terms of how long it takes to send and receive funds on a wallet-to-wallet basis, this will ultimately depend on the respective network. For example, Bitcoin transactions will take at least 10 minutes to process, while BNB rarely requires more than 60 seconds.   

Types of Bitcoin Wallet Accounts

When deciding on the best Bitcoin wallet in the UK for you, one of the most important things to think about is the device that you wish to store the funds on. 

We explain which types of Bitcoin and crypto wallets are available in the sections below.    

Software Wallets

The vast majority of people in the UK will choose a crypto wallet that comes via software. This is usually a choice between a desktop or mobile application. 

Experienced investors will often elect to keep their crypto wallet on a desktop computer, as this offers more in the way of security features. Desktop wallets also allow developers to connect directly to the blockchain ledger. 

However, if you are a beginner or have no desire to engage directly with the blockchain, then a mobile wallet is by far the better option. 

This is because a mobile wallet app offers:

• Security in the form of your smartphone screen lock password, fingerprint ID, and/or a PIN
• Super-easy access to your crypto wallet no matter where you are
• Real-time notifications when funds are sent or received 
• A user-friendly interface that is suited for all skill levels 
• Ability to buy and sell crypto at the click of a button

We should also note that some wallet providers allow you to access your funds via both a mobile app and a desktop software file. If this is the case, both wallets will be connected. 

Hardware Wallets

We mentioned above that in terms of finding the ideal balance between security and convenience, mobile crypto wallets are the best option.

However, if you are looking for the most secure way possible of storing your digital assets, you might also consider a crypto hardware wallet. Leading providers in this niche industry – which includes Ledger Nano and Trezor, offer hardware wallets through a small USB-style device. 

• In choosing a hardware wallet to store your crypto assets, the only way to send funds is to physically enter a PIN onto the device. 
• This means that if somebody stole your device, they wouldn’t be able to access your funds without knowing your PIN. 
• Furthermore, even if they attempted to guess your PIN, on each incorrect guess, the timelock feature would double. 
• This means that after many guesses, the waiting period required until the next attempt would quickly run into minutes, hours, and days. 

In the meantime, you would be able to recover your hardware wallet remotely by entering your backup passphrase on an external device. 

Paper Wallets

Although a lot less common, some crypto investors in the UK will elect to use a paper wallet. 

The main concept with paper crypto wallets is as follows:

• You first generate a public address for the respective cryptocurrency. This can be done through any wallet provider. 
• Next, you print the unique QR code for your wallet address onto a sheet of paper. 
• On the same sheet of paper, you write down your backup passphrase.
• Then, you keep the sheet of paper somewhere super-secure – like in a fireproof safe.

At this stage, your cryptocurrency tokens are safely stored without you needing to have access to an actual wallet. This drastically reduces the threat of having your digital tokens stolen – as the funds are never connected to the internet. 

When the time comes for you to access your cryptocurrency – perhaps because you want to send the tokens to an exchange to cash out, you can import the funds into a wallet of your choosing by scanning the QR code printed on the respective sheet of paper. 

How to Choose the Best Cryptocurrency Wallet for You

This guide has thus far reviewed a selection of the best Bitcoin wallets in the UK for your consideration. 

However, as each wallet comes with its own benefits and drawbacks, you might need to do some additional research to ensure you are choosing the best option.

Below, we explore the most important things to check off in your search for the best crypto wallet in the UK. 

Wallet Type

The first thing to consider is the specific wallet type that is best for your requirements. We mentioned earlier that mobile wallet apps cover both security and convenience. 

With that said, if you’re holding a huge number of digital tokens that carry a large GBP valuation, you might also consider buying a hardware wallet. 

Security

Regardless of which wallet type you opt for, you still need to explore what security tools are offered. 

For example, not all mobile wallets come with suitable safeguards. On the contrary, there might be a flaw in the underlying code that could put your funds at risk. 

Similarly, if you prefer the convenience of using a web wallet, then make sure that your chosen provider keeps the vast majority of client funds in cold storage. 

Other useful security features to look out for include biometric login, two-factor authentication, and IP address whitelisting. 

In August 2022 mobile hot wallets on the Solana blockchain such as Phantom and Slope wallets were compromised by an exploit – hackers were able to drain over $5 million in SOL funds. The wallets we reviewed above were not affected.

Custodial or Non-Custodial 

Another thing to keep in mind is that wallets are offered in two forms – custodial and non-custodial. As explained earlier, the latter will require you to keep your private keys and backup passphrases secure. 

Meaning, if your wallet is compromised, you will have nowhere to turn. Custodial wallets are, therefore, perhaps the best option for beginners that do not understand the intimate details of blockchain security. 

Supported Tokens 

Once you have crossed off the fundamentals surrounding wallet types and security, you then need to assess what cryptocurrency tokens are supported. 

At one end of the spectrum, multi-currency wallets support thousands of tokens and have multi-chain functionality. Others, however, will only offer support for one token – such as Bitcoin. 

Ultimately, the best crypto wallet in the UK for you will be one that supports all of the digital tokens that you currently own, or plan to buy in the near future. 

Fees 

Other than hardware storage devices – such as those offered by Ledger Nano and Trezor, the best crypto wallets in the UK are usually free to access. 

However, you need to consider what fees the provider charges when it comes to sending funds. For example, both Binance and Mode App charge 0.0005 to withdraw Bitcoin. 

While at first glance this might not seem like a lot – at Bitcoin’s all-time high of $69,000 – this amounts to a withdrawal fee of about approximately $34. 

In other words, if you wanted to cash out $100 worth of Bitcoin, you would effectively be paying a fee of 25%. 

User Experience 

The final thing to check off in your search for top crypto wallets in the UK is the user experience on offer. This is because some crypto wallets are aimed at beginners, while others at seasoned developers. You can normally get a feel for whether a crypto wallet is suitable for your skill set by having a browse on the provider’s website.

How to Get a Bitcoin Wallet UK 

To wrap up this beginner’s guide on the best Bitcoin wallets in the UK – we show you how to get set up in under 10 minutes. 

More specifically, we’ll show you how to register with Best Wallet, download its top-rated mobile wallet, and proceed to import tokens. 

Step 1: Download Best Wallet App

Best Wallet has just launched as a free mobile app on Android and iOS, meaning it is available in the App Store/Play Store.

A browser extension is in development and will be launched soon.

Step 2: Create Account

Once downloaded, users only need to input an active email address to create an account as Best Wallet is a decentralized, non-custody wallet – there is no KYC verification to go through.

Users then must select their security settings. A four-digit passcode is the minimum but additional two-factor authentication and/or fingerprint ID can be added at this stage or later.

Step 3: Deposit Funds/Crypto  

An account has now been created and users are able to purchase tokens via trusted third-party Wert, trade on the built-in DEX or store tokens in the secure wallet.

Other features are set to be added in the near future.

Conclusion 

This guide to the best crypto wallets in the UK reviewed the leading providers in the market right now – and covered what to consider when choosing a wallet for your personal requirements. 

We found that the best crypto wallet in the UK for 2024 is offered by Best Wallet, a mult-chain, decentralized self-custody wallet that offers a secure and easy way to purchase, manage, trade and store tokens. 

Best Wallet is our top pick because its unique features make it more than just a wallet and transform it into a leading DeFi platform – they include early access to new projects, custom insights into trending tokens and reduced fees.

Its $BEST token is set to launch soon, with active users to be airdropped tokens in the near future.

FAQs on UK Bitcoin Wallets