5 Best Non-Custodial Software Wallets (July 2024)

When it comes to ensuring the safety of your digital assets, the most important thing to remember is that if you don't control the private keys to the wallet (i.e., non-custodial or ‘self-custody' wallets) in which they are stored, you don't control the assets.  This is often repeated in crypto-circles as ‘not your keys, not your coin.'  Even among wallets that provide this, not all are created equal.  Beyond the obvious differences, such as hardware vs. software, supported assets, track records, interface, and built-in features come into play.

Software wallets, in particular, are an attractive option for many, as they are more easily accessible than a hardware wallet, typically provide more features, and can still provide high levels of security.  It is important to remember, however, that software wallets are still ‘hot,' meaning that they still connect to the internet.  Yes, they are significantly more secure than storing funds on an exchange, but a hardware wallet is still the way to go if security is of paramount concern.  With that being said, the following are our current picks for the top options on offer.

For those more interested in purchasing a hardware wallet, make sure to check out our similar ranking HERE.

1. Kraken Wallet

Kraken Wallet is a digital wallet service provided by Kraken, a highly reputable cryptocurrency exchange.  This offering is not only non-custodial, it is also open-source.  It is integrated within the Kraken ecosystem, allowing users to store, manage, and trade cryptocurrencies seamlessly on both iOS and Android.  The wallet is known for its robust security, user-friendly interface, and extensive range of supported assets.

• Security is a top priority for Kraken Wallet.  It employs industry-leading measures such as cold storage for the majority of funds, two-factor authentication (2FA), data encryption, and a Global Settings Lock to prevent unauthorized changes to account settings.  These features ensure that users' assets are protected against potential threats.
• The user-friendly interface makes Kraken Wallet accessible to both novice and experienced users.  The dashboard provides an intuitive overview of all held assets, recent transactions, and market data.  The Kraken mobile app also allows users to manage their wallet and trade on the go.
• Kraken Wallet supports a wide range of cryptocurrencies and tokens, making it versatile for users with diverse portfolios.  It also supports several fiat currencies, enabling easy deposits and withdrawals in users' local currencies.  This broad asset support ensures that users can manage all their investments in one place.
• Integrated trading is another significant feature of Kraken Wallet.  Users can trade directly from their wallet without needing to transfer funds to another platform, ensuring quick and efficient transactions.  Moreover, Kraken Wallet allows users to stake certain cryptocurrencies to earn rewards, providing a way to generate passive income from held assets.
• Customer support is available 24/7 to assist with any wallet or trading issues.  Kraken also offers comprehensive educational resources, including guides, FAQs, and tutorials, to help users navigate the platform and maximize their wallet use.

Kraken Wallet stands out due to its strong reputation and trustworthiness, backed by one of the longest-standing and most respected cryptocurrency exchanges.  Its integration with the Kraken exchange offers a comprehensive ecosystem for managing, trading, and staking assets all in one place.  The advanced security features provide peace of mind for users concerned about the safety of their investments.  Additionally, the wallet's support for a wide range of cryptocurrencies and fiat currencies, along with its user-friendly design and accessible mobile app, make it a versatile and appealing choice for cryptocurrency management.

Download Kraken Wallet →

2. Exodus

Having been a fixture in the world of crypto for years now, Exodus tops our list for a good reason.  Not only does it offer one of the slickest interfaces around, available on both desktop and mobile, but it boasts a plethora of features.  Users have the ability to track their portfolio performance, swap tokens, access various DeFi features, and even integrate with certain hardware wallets.  Furthermore, it has a fantastic history of updates, which ensures the service/platform is always running perfectly.  The only downside to Exodus is that it does not boast open-source code for its platform.

In addition to its longstanding position atop non-custodial software options, Exodus is somewhat of a trailblazer after having decided to host its own digital securities offering and subsequent issuance of ‘EXOD' tokens.

Exodus is available and can be synchronized across each of the following.

• Desktop (Windows, Linux, Mac)
• Mobile (Android, iOS)
• Browser (Chrome, Brave)

To learn more about EXOD, make sure to visit our Investing in Exodus guide.

Download Exodus Wallet →

3. MetaMask

MetaMask dubs itself as more than just a wallet; it is also a ‘gateway to blockchain apps'.  This means that in addition to buying/selling and storing digital assets, MetaMask allows for bridging between networks, NFT services, and more.  While MetaMask was once limited by its focus on Ethereum and ETH-based tokens, the project will soon offer support and services for the most popular digital asset there is – Bitcoin (BTC).

At the time of writing, MetaMask indicates that it currently has over 30M users and is supported on the following,

• Browsers (Brave, Chrome, Edge, Firefox, Opera)
• Mobile (Android, iOS)

A handy feature on offer by MetaMask is the ability to synchronize your non-custodial wallet across each for users that use multiple platforms.

Download MetaMask →

4. Coinbase Wallet

Yes, Coinbase is a centralized platform, and while it does have its custodial wallet on offer, the company has recognized an industry need/want for a non-custodial variant.  As such, the company set out to build such a solution.  Coinbase Wallet is a product on its own, accessible by anyone – not just users of the Coinbase exchange.  This offering is available on Android, iOS, and Chrome.

Like all the wallets on this list, this offering is non-custodial in nature, meaning that you hold your own private keys at all times.  Being a product of Coinbase, however, means that you can rest assured the wallet will remain up-to-date and typically offer seamless functionality and a simple-to-use interface.

Where Coinbase Wallet may fall behind others like Trust Wallet are the amount of supported assets.  This may actually be a good thing, though, as the company is much more selective in its vetting process for supporting reputable projects.

Download Coinbase Wallet →

5. Trust Wallet

While it hasn't been around for quite as long as Exodus, Trust Wallet is quickly building a strong reputation due to its open-source and non-custodial approach.  Trust Wallet is available through an easy-to-use app on both Android and iOS.  It does, for now, lack support for desktop.  Trust Wallet has added browser support for Chrome, Brave, Opera, and Edge to make up for this.  This wallet also has various built-in features sure to attract crypto users.  These include support for NFTs, a wide array of supported assets, and even staking.

Notably, Trust Wallet has also issued its own token known as ‘TWT' – a somewhat unique feature among software wallets.  Unlike EXOD, which is a digital security, TWT is a utility token that functions similarly to an exchange token.  As such, it is used to incentivize in-wallet activity through discounts and rewards, in addition to playing a role in platform governance.

At the time of writing, Trust Wallet indicates that it boasts 70M+ users and is growing.  Between its flexibility, a broad range of services, and built-in security measures like being non-custodial, Trust Wallet is a solid option for users looking to secure their assets while on the go.

To learn more about TWT, make sure to peruse our Investing in Trust Wallet Token Guide.

Download Trust Wallet →