The 4 Different Types of Crypto Wallets Compared

There are 4 main types of crypto wallets, and they can be broken down further into multiple subcategories. We gathered together this ultimate list of crypto wallets and compared them all so you don’t have to.

Cold Wallets vs. Hot Wallets

As these names imply, hot wallets are well-suited to frequent, intensive use. Cold wallets are the opposite. They’re less convenient to use and tend to be left for long periods of time.

Paper Wallets

One of the oldest kinds of crypto wallets is called paper wallet. They’re a form of cold storage that uses a paper wallet generator app to create QR codes, which act as keys, on physical pieces of paper.

Hardware Wallets

Hardware wallets are another type of cold wallet, and they’re the most widely used today. These wallets take the form of physical electronic devices, often resembling a USB stick, that you can store your keys on.

Software Wallets (Desktop, Mobile)

Out of all the hot wallets available, software wallets dominate the market. This kind of wallet requires installing an app on your smartphone (in the case of mobile wallets) or a software application on your computer (in the case of desktop wallets).

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