11 Best Crypto Wallets in UAE for 2023 – Safest Bitcoin Wallets Reviewed

Based in the UAE and looking to buy and store crypto safely? Trading cryptocurrencies has never been easier but finding the right crypto wallet to suit your trading needs can be challenging.

In this guide, we discuss the best crypto wallets in the UAE for 2023. Read on to discover UAE Bitcoin wallets that offer the perfect balance between security, user-friendliness, and features.

The Top 11 Cryptocurrency Wallets for UAE Traders

Listed below at the 11 best crypto wallets in the UAE:

  1. Best Wallet – Best Wallet is a user-centric crypto wallet in UAE with high security, multi-chain interoperability, and an AI Chatbot offering real-time insights for a smooth user experience. Users can also stake the platform’s native $BWAT tokens for enticing rewards.
  2. eToro – eToro is an established crypto wallet for UAE investors of all skill sets. Its native web and mobile wallet supports over 90 cryptocurrencies – including Bitcoin, XRP, BNB, and Dogecoin. The eToro wallet provides access to exchange services, enabling users to easily buy and sell crypto. What’s more, eToro offers staking rewards and copy trading tools. Most importantly, eToro is backed by a regulated brokerage with institutional-grade security.
  3. Binance – While Binance is best known for its crypto exchange, it also offers a convenient web and mobile wallet. Both wallets connect to the same account and provide direct access to over 350 cryptocurrencies. This is the best wallet in the UAE for traders, with Binance offering commissions of just 0.1%.
  4. Trezor – Trezor is a hardware wallet that stores private keys on a physical device. It requires users to enter a PIN on the device when sending crypto to another wallet address. While this is the most secure crypto wallet in the UAE, it’s also the least convenient. As such, Trezor will only appeal to long-term investors.
  5. Trust Wallet – Trust Wallet is a non-custodial wallet that offers access to the decentralized marketplace. This enables users to earn interest on their idle crypto tokens through dApps like PancakeSwap and Uniswap. Trust Wallet supports over 4.5 million digital assets and more than 70 blockchain standards – including Bitcoin.
  6. MetaMask – MetaMask is used by over 30 million people and offers a non-custodial wallet for browsers and smartphones. It supports various operating systems, including Chrome, Firefox, iOS, and Android. MetaMask is great for storing tokens on the Ethereum and Binance Smart Chain networks, but it doesn’t support Bitcoin.
  7. Coinbase Wallet – Coinbase Wallet is a decentralized wallet app for iOS and Android. It’s free to download and supports thousands of crypto assets. Coinbase Wallet also supports Web 3.0 dApps, enabling users to swap and earn crypto under one roof.
  8. Ledger Nano – Ledger Nano is another leading hardware wallet provider. It provides a safe haven for crypto investors with a large amount of exposure to the market. Depending on the model, Ledger Nano costs between $79 and $279.
  9. OKX – Popular exchange OKX recently launched its decentralized wallet app for iOS and Android. It supports more than 50 blockchain standards and offers an exchange aggregator service. This means that token swaps and interest products are sourced from over 200 dApps, offering OKX users the best deals in the market.
  10. Electrum – Electrum was launched in 2011 and offers a desktop wallet for storing Bitcoin. While the wallet comes packed with security features, it doesn’t offer exchange services. Nonetheless, this is a trusted wallet that is ideal for storing Bitcoin on a laptop or PC.
  11. MyEtherWallet – MyEtherWallet is one of the best crypto wallets for storing ERC20 tokens. It comes as a browser extension for Chrome and an app for iOS and Android. MyEtherWallet supports Ethereum 2.0 staking and connects to the Aave marketplace for additional yields.

Best Bitcoin Wallets in UAE Reviewed

Now that we have summarized the best crypto wallets in the UAE, let’s dig a little deeper into each provider.

Read on to learn how each UAE crypto wallet compares for features, safety, usability, supported coins, and much more.

1. Best Wallet – Leading Wallet in UAE Offering High Security and an AI Chatbot For Real-Time Insights

With the concerns surrounding crypto wallets’ security, it’s crucial to have an ultra-secure yet easily accessible place for storing and managing crypto assets. Best Wallet, an emerging crypto wallet in UAE, provides an ideal blend of security, privacy, and accessibility. 

It has been carefully created to balance all these needs, aligning with decentralization by reducing reliance on central authorities.

Best Wallet

The unique selling point of Best Wallet lies in its user-centric approach. It has integrated an AI chatbot called Best Bot, which is continuously learning and evolving, equipping users with accurate, real-time information about their crypto portfolio. The goal is to facilitate informed decision-making and ensure seamless navigation within the platform, much like a personal digital crypto assistant available at your fingertips.

Recognizing the importance of versatility in crypto, Best Wallet offers multi-chain interoperability, enabling smooth transactions across blockchains and DeFi platforms. It’s designed to handle numerous cryptos, tokens, and other digital assets, eliminating the need for multiple wallets and thus positioning itself as a critical tool for beginners and experienced traders.

Moreover, Best Wallet keeps users in the loop about new crypto launches and allows them to participate directly from their wallet, providing an edge in the volatile crypto market.

Best Wallet

Best Wallet also offers convenience for managing your NFT portfolio. It simplifies the process of buying, selling, and trading NFTs, establishing itself as a comprehensive solution for diverse digital assets.

The wallet employs advanced cryptographic techniques for private key management and incorporates 2FA and biometrics for advanced security. As a result, it’s designed to ensure high-level security, all while making convenience a priority.

Moreover, Best Wallet incentivizes its community with exclusive benefits such as staking its native token, $BWAT, to unlock special perks and an Airdrop to reward dedicated users, promoting its overall ecosystem growth.

As Best Wallet prepares to debut, it invites interested users to join a waiting list and become early adopters of this crypto wallet in the UAE.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Web wallet and mobile app Self-Custody Multiple cryptos, NFTs Yes AI chatbot for real-time info and insights, Multi-chain interoperability, NFT management, Secure storage of cryptos and tokens, Access to new crypto launches, and Advanced security measures (2FA, biometrics).

Pros pros

  • Best Wallet uses an AI chatbot for real-time information and portfolio insights.
  • It allows transactions across different DeFi platforms with a single wallet.
  • It uses advanced measures like 2FA and biometrics for securing assets.

Cons cons

  • Best Wallet may face initial trust-building challenges as a new entrant due to the lack of a proven track record.

Cryptoassets are a highly volatile unregulated investment product.

2. eToro – Emerging Crypto Wallet for UAE Investors 

eToro is one of the most popular crypto wallets for UAE investors – and here’s why. First, eToro enables UAE residents to safely store their crypto holdings. The wallet is backed by a regulated brokerage that holds licenses with FINRA (US), FCA (UK), ASIC (Australia), and CySEC (Cyprus). What’s more, eToro has been trading since 2007 and is now trusted by 30 million clients.

eToro offers two wallet options for UAE investors. This consists of a web wallet and a mobile app – and both are custodial. This means that eToro looks after the crypto funds on behalf of its investors. This will appeal to beginners that do not feel comfortable protecting their private keys from hackers. Moreover, eToro uses analytic behavior machine learning to detect suspicious activity, not to mention cold storage for the majority of client funds.

etoro wallet review

Not only is eToro the best crypto wallet in the UAE for safety but also for convenience. For example, those buying crypto from the eToro exchange will automatically have their tokens stored in the primary web wallet. This means that investors can view their crypto tokens simply by logging into their accounts. Furthermore, the eToro web wallet enables investors to sell their tokens at the click of a button, 24/7.

The other option is to download the eToro wallet app for iOS or Android. Unlike the eToro web wallet, the app enables investors to send and receive crypto via the blockchain. This might appeal to experienced crypto investors that want to engage with Web 3.0 apps and decentralized exchanges. That said, the eToro web wallet is more than sufficient for most users.

etoro wallet review

The eToro web wallet also provides access to other investment tools, such as smart portfolios. Through a single trade, smart portfolios enable investors to buy dozens of crypto tokens. The portfolio is professionally managed by eToro and actively maintained and rebalanced. The eToro web wallet also provides access to copy trading. This is another passive investment tool where users copy other crypto traders.

Moreover, eToro also offers staking tools. It supports various staking coins, such as Ethereum, Tron, and Cardano. Depending on the account tier, eToro investors receive up to 90% of the staking rewards generated. Consider that Coinbase takes up to 35% commission for its staking feature, leaving investors with just 65% of the rewards.

eToro review

When it comes to fees, the eToro wallet is free to use and maintain. Those wishing to buy and sell crypto will pay just 1% per slide. This is the case across 90+ cryptocurrencies, including everything from Bitcoin, Shiba Inu, and XRP to Solana, Arbitrum, and Uniswap. UAE investors can deposit funds with AED, paying just 0.5% of the transaction amount. This includes debit/credit cards, e-wallets, and local bank transfers. \

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Web wallet and mobile app Custodial Over 90 cryptocurrencies, including Ethereum, Bitcoin, Litecoin, XRP, and BNB 1% per slide Yes Exchange services, staking, copy trading, smart portfolios

Pros pros

  • Overall best crypto wallet for UAE investors
  • Backed by a regulated brokerage with over 30 clients
  • 90+ cryptocurrencies supported by a web and mobile wallet
  • Directly buy and sell crypto tokens in on safe place
  • Also supports staking, copy trading, and smart portfolios

Cons cons

  • All new users must complete a quick KYC process

Cryptoassets are a highly volatile unregulated investment product.

3. Binance – Store, Trade, and Earn Crypto via a Simple Web Wallet   

Binance review Binance is another leading crypto wallet for UAE traders. Those using its crypto exchange will automatically receive a wallet address. This is the case for all of the platform’s 350+ supported cryptocurrencies. This makes it seamless to trade and store cryptocurrencies via a simple web wallet interface.

For example, suppose an investor is holding $500 worth of XRP in their Binance web wallet. If the investor wishes to trade XRP for BTC, they can do so without needing to transfer tokens to the Binance exchange. Instead, the XRP tokens will be taken from the investor’s wallet balance and replaced with BTC. When trading on Binance, commissions amount to just 0.1%.

Binance wallet review

This is one of the cheapest commission structures in the market, with investors paying just $1 for every $1,000 traded. Another benefit of using the Binance web wallet is it also provides access to interest-earning products. For example, those holding ETH can earn over 4.4% via a flexible savings account. Alternatively, investors can earn nearly 17% and 12% annually by depositing DOT and NEAR into a 120-day fixed term.

When it comes to security, it is important to remember that Binance is a custodial wallet. This means investors will not have access to their private keys. Nonetheless, investors can withdraw their cryptocurrencies at any time, with transactions usually approved in under five minutes. Moreover, Binance offers two-factor authentication, device whitelisting, cold storage, and an insurance fund for potential hacks.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Web wallet and mobile app Custodial 350 cryptocurrencies across multiple blockchain networks, including Ethereum, Bitcoin, Solana, Arbitrum, Polygon, and BNB 0.1% commission per slide Yes Exchange services, staking, yield farming, savings accounts, dual investments

Pros pros

  • Best crypto wallet for UAE traders
  • Simple web wallet provides access to the world’s largest crypto exchange
  • Buy and sell over 350 cryptocurrencies from just 0.1% per slide
  • Earn interest on idle crypto tokens via savings accounts and staking

Cons cons

Cryptoassets are a highly volatile unregulated investment product.

4. Trezor – Secure Hardware Wallet for Storing Large Crypto Investments   

Trezor reviewTrezor is one of the best crypto hardware wallets in the UAE. This option will not suit active traders but rather long-term investors with a large portfolio value. This is because Trezor offers unparalleled security features, ensuring that the crypto tokens remain safe at all times.

For example, unlike software wallets, private keys are stored on the Trezor device itself. The device is always offline, meaning it cannot be hacked remotely. The only way to transfer funds from the Trezor wallet is by entering a PIN on the device. Crucially, when an incorrect PIN is entered, the time delay feature kicks in. This doubles the amount of time the user needs to wait before being able to try another PIN.

Trezor review

And hence, if the Trezor wallet is stolen, the owner has enough time to recover the funds remotely. This is achieved by entering the wallet’s backup passphrase from another device. Another benefit of Trezor is it supports a huge range of cryptocurrencies. From Bitcoin and Ethereum to Solana and BNB – Trezor is ideal for diversified portfolios.

However, Trezor isn’t suitable for those looking to trade cryptocurrencies on a short-term term basis. After all, crypto tokens cannot be moved without access to the Trezor device. Another factor to consider is the price. Trezor’s entry-level model costs just $69, but its most advanced option costs $219.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Hardware wallet. Also offers a mobile app and desktop software Non-custodial Supports tokens across multiple blockchain standards,  including Ethereum, Bitcoin, BNB, Solana, and Polygon Fees are determined by third-party providers. Displayed at the time of purchase Yes Institutional-grade security, Trezor Suite supports crypto purchases, ability to recover funds remotely with private keys

Pros pros

  • Best Bitcoin hardware wallet for safety
  • Supports most leading blockchains – including Bitcoin, Ethereum, and Binance Smart Chain
  • The entry-level model costs just $69
  • Also connects to a mobile app – making it suitable for viewing balances on the move

Cons cons

  • The most advanced model costs $219
  • Not suitable for short-term traders looking to regularly move funds

5. Trust Wallet – Non-Custodial Crypto Wallet for Smartphones and Browsers  

Trust Wallet review With over 60 million users, Trust Wallet is one of the most popular crypto wallets globally. Originally launched as an app for iOS and Android, Trust Wallet also comes as a browser extension for Chrome. All supported device types are free to use and offer non-custodial storage.

After downloading Trust Wallet, users will be asked to create a PIN or set up a fingerprint ID. Trust Wallet will then display a 12-word passphrase, which represents the user’s unique private keys. That’s all it takes to get started with Trust Wallet, so this option is great for complete beginners.

Trust Wallet review

Trust Wallet supports over 4.5 million digital assets, including NFTs. More than 70 blockchain standards are supported, including Bitcoin, Solana, Binance Smart Chain, and Polygon. Trust Wallet supports cross-chain functionality, enabling users to buy, sell, and trade tokens with ease. Trust Wallet also makes it simple to connect to Web 3.0 dApps.

In particular, Trust Wallet is the go-to wallet for trading via PancakeSwap, which supports thousands of BEP20 tokens. Trust Wallet can also be used to buy and sell NFTs via OpenSea, as well as access ETH-based dApps like Uniswap and Compound. Finally, Trust Wallet is backed by Binance, but the two operate independently. As such, Trust Wallet remains decentralized and does not collect any personal information from its users.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Browser extension  and mobile app Non-custodial 4.5 million tokens across 70 blockchain networks Fees are determined by third-party providers. Displayed at the time of purchase Yes Access Web 3.0 products and dApps, including PancakeSwap and Uniswap. In-built staking tool offering APYs of up to 84%.

Pros pros

  • Popular mobile and browser-based wallet with over 60 million users
  • Simple to use and no fees required
  • Directly access Web 3.0 dApps – such as PancakeSwap and Uniswap
  • Supports over 4.5 million cryptocurrencies and NFTs

Cons cons

  • Trust Wallet was previously removed from the Apple store.

6. MetaMask – Decentralized Crypto Wallet Popular With ERC20 Token Investors  

Metamask review MetaMask is often considered a direct competitor of Trust Wallet, with the provider offering free non-custodial storage. Just like Trust Wallet, MetaMask is supported by an iOS and Android app, as well as a Chrome extension. MetaMask also supports Edge, Firefox, and Brave browsers.

With more than 30 million users, MetaMask is popular with ERC20 token investors. By default, MetaMask connects directly to the Ethereum blockchain. As such, all ERC20 token holdings are stored under the same public wallet address. We also like how simple it is to create a new MetaMask wallet.

Metamask review

After choosing the preferred device type, users simply need to create a password and write down their 12-word passphrase. We also like that MetaMask comes with notification alerts. This will happen when crypto tokens are received by the wallet, or a transaction authorization is required. Although MetaMask is one of the best crypto wallets in the UAE for ERC20 tokens, it also supports other blockchain standards.

This includes Optimism, Avalanche, Binance Smart Chain, Polygon, and Arbitrum. However, this presents two clear drawbacks. First, MetaMask does not support the world’s most popular crypto – Bitcoin. Second, MetaMask requires users to manually set up additional networks. This will not appeal to complete beginners – considering mistakes will lead to a loss of funds.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Browser extension  and mobile app Non-custodial All tokens on the following networks: Ethereum, Arbitrum, Optimism, Binance Smart Chain, Polygon, and Avalanche Fees are determined by third-party providers. Displayed at the time of purchase Yes Supports selected dApps, including Uniswap and Compound

Pros pros

  • Best crypto wallet in the UAE for traders holding ERC20 tokens
  • Also supports other networks – including Arbitrum and Polygon
  • It takes just seconds to create and set up a new wallet
  • Notifications alert users of incoming transactions

Cons cons

  • Does not support Bitcoin
  • Users need to manually add additional networks – which is a drawback for beginners

7. Coinbase Wallet – Free Non-Custodial Wallet App Supporting Web 3.0 dApps     

The Coinbase Wallet is a decentralized wallet app that gives users full control over their private keys. As a non-custodial option, this wallet operates independently from the main Coinbase exchange. As such, UAE investors are not required to open an account with Coinbase, nor provide any personal information.

The Coinbase Wallet is free to download on iOS and Android. It supports dozens of blockchain standards and hundreds of thousands of cryptocurrencies and NFTs. This includes Bitcoin, Polygon, Ethereum, Solana, and Binance Smart Chain. At the click of a button, Coinbase Wallet provides access to Web 3.0 applications.

Coinbase wallet

This allows UAE investors to connect to Uniswap, PancakeSwap, Yearn.finance, and more to earn passive income. In connecting to these providers, investors can access everything from staking and savings accounts to liquidity pools. Moreover, Coinbase Wallet users can instantly swap tokens without going through a centralized order book.

As such, most cryptocurrency investing needs are available in one decentralized ecosystem. In terms of security, Coinbase provides users with their backup passphrase when setting the wallet up. Coinbase Wallet also enables users to back up their passphrase via the cloud. Although Coinbase notes that cloud access is encrypted, an element of control is handed over to the provider.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Mobile app Non-custodial Supports dozens of blockchain standards across over 450,000 cryptocurrencies and NFTs Determined by third-party dApps Yes Decentralized wallet that is completely separate from the Coinbase exchange, connects to any Web 3.0 dApp, stores NFTs

Pros pros

  • Free decentralized wallet app for iOS and Android
  • Ideal for connecting to Web 3.0 dApps like Uniswap
  • Compatible with hundreds of thousands of cryptocurrencies and NFTs
  • Offers a backup passphrase service on the cloud

Cons cons

  • Fiat currency payments need to go via the centralized Coinbase exchange
  • Very opaque when it comes to fees

8. Ledger Nano – Leading Hardware Wallet That Connects to a Desktop Application      

Ledger Nano review In many ways, Ledger Nano offers similar functionality as Trezor. This is a leading hardware wallet provider that is aimed at long-term investors and those with a large portfolio value. Outgoing transactions must be confirmed on the Ledger Nano device, and the wallet remains in cold storage at all times.

In terms of pricing, Ledger Nano is more expensive than Trezor. For instance, while its cheapest model costs $79, its most advanced option retails for $279. The latter comes with a customizable lock screen, wireless charging, and embedded magnets. These features do not increase the security of the wallet, so the basic model at $79 is sufficient for most.

Ledger Nano review

Nevertheless, Ledger Nano also comes with access to Ledger Live. This enables users to buy and sell crypto via the Ledger desktop software and mobile app. Available for Mac, Windows, Linux, iOS, and Android – Ledger Live also supports NFTs and access to Web 3.0 dApps. While Ledger Live enables users to buy crypto with a debit/credit card – this is provided by a third party.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Hardware wallet Non-custodial 5,000 cryptocurrencies across multiple blockchains, including Bitcoin, Ethereum, Polkadot, and Binance Smart Chain Powered by Changelly, which builds commissions into the exchange rate Yes Ledger Live supports dApps, including 1inch, Paraswap, and Lido. Buy and sell crypto via Changelly

Pros pros

  • Best Bitcoin wallet in the UAE for long-term investors
  • Supports more than 5,000 cryptocurrencies and NFTs
  • Connects to Ledger Live – enabling users to access Web 3.0 dApps
  • The basic model retails for just $79

Cons cons

  • The most advanced model retails for $279 but does not offer any improved security features
  • Debit/credit card purchases go through a third-party processor

9. OKX – One of the Best UAE Crypto Wallets for Earning Interest on Idle Tokens 

OKX is one of the top crypto wallets in the UAE for earning passive income. It supports over 50 blockchain networks, covering hundreds of thousands of cryptocurrencies and NFTs. Crucially, while OKX is decentralized, it connects to over 200 exchanges via an aggregator tool.

In simple terms, this means that investors in the UAE can earn interest on their chosen cryptocurrencies at the best rates. For instance, suppose an investor is currently holding USD Coin in their OKX wallet. Right now, OKX offers an APY of 37% and 11% via Geist Finance and Aave, respectively.

OKX wallet

The aggregator tool also works for token swaps. For example, suppose the investor wants to swap USD Coin for Tether. OKX will display the best rate for all supported exchanges, saving investors time and money. This also offers the opportunity to engage in arbitrage trading.  The OKX wallet is available via an iOS and Android app. It takes just seconds to set up and requires no personal information.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Mobile app Non-custodial Most cryptocurrencies across 50 blockchain networks Fees are displayed when swapping tokens. Alternatively, use the centralized OKX exchange and pay just 0.1% per slide Yes Decentralized swaps, staking, yield farming, savings accounts, NFT marketplace

Pros pros

  • Best crypto wallet in the UAE for earning interest
  • Instantly find the best crypto APYs via the OKX aggregator tool
  • Supports over 50 blockchain standards
  • Takes seconds to set up and requires no personal information

Cons cons

  • Some interest products OKX sources have limited liquidity

10. Electrum – Secure Desktop Wallet for Storing Bitcoin Offline  

Electrum review

Electrum is the best Bitcoin wallet in the UAE for desktop users. Although basic in nature, Electrum has been securing BTC tokens since 2011. It comes as desktop software for various operating systems, including Windows, Linux, and Mac. Moreover, it is free to use and comes with multiple security features.

In particular, we like that Electrum wallets can be stored offline. While this is a software wallet by design, private keys can be kept in cold storage. This restricts the Bitcoin from being moved to another wallet. At any time, the user can put the private keys back online and complete the transfer.

Electrum review

Electrum also offers multi-sig permissions. In simple terms, this enables the user to spread transaction authorizations across multiple wallets. This is a crucial safeguard that makes it ultra-difficult for remote hackers to steal the Bitcoin tokens. Of course, the main drawback is that Electrum does not support any altcoins.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Desktop wallet plus an Android app Non-custodial Bitcoin Does not support trading services Yes Multi-sig transactions, encrypted private keys, and ‘offline mode’ for increased security

Pros pros

  • Basic desktop wallet for storing Bitcoin securely
  • Keep the private keys in cold storage for increased safety
  • Also available as an Android app
  • Completely free to use

Cons cons

  • Does not support altcoins
  • No support for iOS

11. MyEtherWallet – User-Friendly Crypto Wallet App for Storing ERC20 Tokens   

MyEtherWallet review

Launched in 2015, MyEtherWallet (MEW) is a free wallet app for iOS and Android. This is one of the best crypto wallets for storing ERC20 tokens. After setting the wallet up, the user will be presented with a unique Ethereum address. Thereon, all ERC20 tokens can be sent to this address.

MEW also enables users to swap ERC20 tokens at the click of a button. Whether that’s ETH, USDT, MANA, or AAVE – swaps are conducted without leaving the wallet interface. Another feature of MEW is it offers an in-built staking tool for Ethereum 2.0. It also connects to the Aave ecosystem, enabling users to earn interest on other ERC20 tokens.

MyEtherWallet review

That said, while MEW supports debit/credit card purchases, this is backed by third parties. This includes Changelly, Bity, and Simplex. These providers are known to charge 3-5% on debit/credit card payments, which is expensive. Moreover, Electrum does not directly support Bitcoin. While users can store Bitcoin through an Enkrypt extension, this overcomplicates things.

Type of Wallet Custodianship Supported Cryptos Fee for Buying Bitcoin Mobile App? Features
Mobile app Non-custodial All ERC20 tokens Fees are determined by third-party providers. Displayed at the time of purchase Yes Store all ERC20 investments under one wallet address, established in 2015, in-built staking tool for Ethereum 2.0

Pros pros

  • One of the original Ethereum wallets – launched in 2015
  • Supports all ERC20 tokens
  • Very user-friendly interface
  • Stake Ethereum 2.0 without leaving the wallet app

Cons cons

  • Does not directly support Bitcoin and other non-ERC20 cryptocurrencies
  • Uses Changelly, Bity, and Simplex for debit/credit card payments

What is a Cryptocurrency Wallet?

Crypto wallets serve three core functions:

  • Store crypto tokens
  • Receive crypto tokens
  • Send crypto tokens

That said, some crypto wallets also enable users to exchange tokens, earn interest, and even buy NFTs.

After buying cryptocurrencies online, the tokens are stored in a wallet. There are many types of wallets, from mobile apps and hardware devices to desktop software. Either way, the primary function of a crypto wallet is to keep tokens safe.

After all, crypto tokens have real-world value, just like cash and stocks, so investors should ensure they take appropriate security steps. For example, some crypto wallets are protected by two-factor authentication, while others keep the tokens offline in cold storage. Similarly, crypto wallets are also secured by a password or PIN.

The types of security features available will depend on the chosen wallet type. Nonetheless, crypto wallets also allow users to make transactions. Crypto tokens are sent and received on a wallet-to-wallet basis. The transaction requires the sender to enter the recipient’s public wallet address – which is similar to a bank account number.

Best Bitcoin wallets

Unlike bank account transfers, crypto wallet transactions are decentralized. This means instead of going through a centralized third party, crypto transactions operate on a peer-to-peer basis. Crypto wallets are protected by a long and complex password known as private keys.

UAE crypto wallets can be custodial or non-custodial. The latter means that users take responsibility for the security of their private keys. While the former allows a trusted custodian to safeguard the private keys on behalf of the investor.

How do Bitcoin Wallets Work?

Bitcoin wallets carry similar traits to conventional bank accounts. Not only do wallets store wealth – but they enable users to send and receive funds. The key difference is that crypto wallets are decentralized, so transactions operate on a peer-to-peer basis.

After covering the basics, we will now explain the fundamentals of how UAE crypto wallets work.

Public Address

All crypto wallets come with a public address. While the specifics will vary from one blockchain to another, public addresses are usually long, complex, and contain both letters and numbers. All wallet addresses are unique and are best compared to bank account numbers.

For example:

  • Transferring money to another person in the UAE would require the recipient’s bank account number
  • But transferring crypto to another person would require their public wallet address

Here’s an example of what a Bitcoin wallet address looks like:


This Bitcoin wallet belongs to OKX, a leading crypto exchange. As crypto wallet addresses are public, anyone can view real-time balances. The OKX wallet listed above currently contains over 29,000 BTC, valued at nearly $800 million.

Private Keys

Private keys are also important to understand when exploring the best crypto wallets in the UAE.

As we briefly noted above, private keys represent the wallet’s password. Just like public addresses, they are long and complex in nature. Fortunately, the best crypto wallets in the UAE display private keys in an easy-to-read format. In most cases, this is a string of 12 or 24 words that must be entered in the correct order.

Nonetheless, private keys enable the holder to access their wallet from any device. As such, investors should take the necessary steps to key the private keys safely. Most investors will write the private keys on a sheet of paper – as this keeps them offline and away from hackers.


Whether or not investors have access to their private keys depends on the chosen wallet type.

For example, non-custodial wallets give users full control of their private keys. While this removes the need to trust a third party, this also comes with drawbacks. For instance, if the user misplaced their private keys, the wallet provider will not be able to help them regain access. In this instance, the crypto funds are unrecoverable.

Custodial wallets do not provide users with their private keys. Instead, the provider retains the private keys to keep the wallet safe on behalf of the user. This is like trusting a bank account to keep money safe.

Whether or not UAE investors should opt for a custodial or non-custodial wallet depends on their requirements.

For example:

  • Custodial wallets are aimed at beginners that want to invest in crypto but do not have the time or knowledge to secure their funds. eToro is a great option here, as the provider is heavily regulated and has a great reputation for investor safety.
  • Non-custodial wallets are suitable for investors that do not want to trust third parties. This means while investors retain full control of their private keys, they are also responsible for safeguarding them. Trust Wallet is a great option for non-custodial storage. The wallet is available as an iOS/Android app and a Chrome extension.

Ultimately, both custodial and non-custodial wallets come with their benefits and drawbacks. UAE investors should consider the pros and cons of each before proceeding.

Why You Need a Crypto Wallet

Without a crypto wallet, it is not possible to send and receive tokens. After all, crypto wallets sit between investors and the blockchain network.

Those looking to buy crypto and store the tokens themselves away from third parties will need a wallet. This objective falls within the non-custodial option. Moreover, those looking to send and receive funds on a peer-to-peer basis will also need a non-custodial wallet.

However, those looking to gain exposure to crypto in a convenient and frictionless way do not technically need a wallet. Instead, UAE investors can use an exchange like eToro and keep the crypto in their web account.

etoro wallet review

As noted above, this is a custodial wallet solution that requires no experience or knowledge of security practices. UAE investors simply need to choose which crypto to buy and complete the purchase, before the tokens are added to their web wallet. In the meantime, eToro ensures the crypto tokens remain safe.

This option still provides plenty of flexibility. For example, eToro enables users to buy, sell, and stake crypto without leaving the wallet. Moreover, it also offers the best Bitcoin app for sending and receiving crypto funds.

Types of Crypto Wallets

In this section, we offer insight into the different types of crypto wallets available to UAE investors.

Software Wallets

Software wallets are the most convenient, as they store crypto remotely.

Mobile wallets, for example, enable UAE investors to store crypto via an iOS or Android app. Mobile wallets are also convenient for sending and receiving crypto, as well as accessing Web 3.0 dApps.

Desktop wallets can be installed onto a Windows, Mac, or Linux device. They offer slightly stronger security controls than mobile wallets but are also less convenient.

Another option is to install a software wallet via a browser extension, such as Chrome.

Hardware Wallets

Hardware wallets are physical devices that keep the crypto tokens offline. The private keys are never connected to the internet, offering a huge defense against remote hacks.

Popular hardware wallet providers include Trezor and Ledger Nano, with models retailing between $69 and $279.

Trezor wallet review

While hardware wallets offer the best security practices, they are far from convenient. Put simply, outgoing transfers are only confirmed when the user enters their PIN on the device.

Paper Wallets

Paper wallets are a cost-effective way to keep crypto tokens offline. This is because the private keys are printed onto a sheet of paper.

Just like a hardware wallet, this means the crypto tokens are kept away from live servers. This will only suit very long-term investors, as moving the crypto tokens to another wallet is cumbersome.

How to Pick the Best Crypto Wallet for You

Those still searching the market for the best Bitcoin wallet for UAE traders can refer to the checklist below:

  • Type of Wallet: The most important decision to make is the type of crypto wallet to use. Beginners might be best suited for a custodial wallet backed by a regulated provider. eToro offers a web and mobile wallet for this purpose. Experienced investors might consider a UAE crypto wallet with non-custodial storage, such as MetaMask or Trust Wallet.
  • Supported Coins: Investors also need to consider whether the crypto wallet supports their preferred coins. For example, while MyEtherWallet is great for ERC20 tokens, it doesn’t support Bitcoin. Similarly, while Electrum securely stores Bitcoin, it doesn’t support any other cryptocurrencies.
  • User-Friendliness: It is also wise to assess whether the crypto wallet is user-friendly. Any mistakes made when transferring or receiving crypto will result in a loss of funds, so it’s important the wallet aligns with the investor’s skill set.
  • Exchange Features: The best crypto wallets in the UAE enable users to buy and sell crypto. This removes the need to keep transferring crypto between wallets and exchanges.
  • Interest Tools: Seasoned investors will look to earn income on their ideal crypto investments. As such, it’s wise to choose a crypto wallet that offers interest-earning tools. For example, eToro offers staking rewards, while Binance supports savings accounts.

How to Use a Cryptocurrency Wallet in UAE

In this section, we provide a beginner-friendly guide on how to use the eToro wallet. This regulated custodian offers a mobile wallet app for iOS and Android – and it takes just minutes to set up.

Step 1: Open an eToro Bitcoin Account

Before downloading the wallet app, visit the eToro website and open an account. Not only is this a legal requirement (as eToro is regulated), but it allows UAE investors to buy, sell, and stake crypto.

etoro sign up form

The registration process takes less than two minutes and requires the following:

  • Personal information
  • Contact Details
  • Copy of a government-issued ID
  • Copy of a bank statement or utility bill (issued within the prior three months)

After getting verified, move on to the next step.

Step 2: Download eToro Wallet App

Click on the ‘Google Play’ or ‘App Store’ button to download the eToro wallet app.

etoro crypto wallet app

Then, open the app and log into the account.

Step 3: Transfer or Buy Crypto

To transfer funds to the eToro wallet app, select the cryptocurrency to reveal the unique public address. Then proceed to transfer the crypto tokens and wait for eToro to update the wallet balance.

Buy Bitcoin on eToro

Another option is to buy crypto directly from the eToro wallet app. UAE investors only need to meet a minimum deposit of $50. eToro accepts instant AED payments via debit/credit cards, PayPal, Skrill, and Neteller.

Cryptoassets are a highly volatile unregulated investment product.

Are Bitcoin Wallets Safe? How to Stay Secure with Crypto Wallets

Most online Bitcoin wallets are safe, but investors also need to take responsibility for the security of their funds.

To help clear the mist, below we offer some guidance on what security features to look for when choosing the best crypto wallet in the UAE.

Custodial Wallets

If opting for a custodial wallet, look for:

  • Two-Factor Authentication: This is one of the most important security tools. 2FA sends a unique code to the user’s phone, which needs to be entered to access the wallet account.
  • Cold Storage: When trusting a custodian with crypto, make sure it utilizes cold storage wallets. This keeps the crypto tokens offline and away from live servers.
  • Regulation: Most custodial wallets are unregulated, or licensed in shady offshore countries. The exception here is eToro, which is regulated in the US, UK, Australia, Cyprus, and Gibraltar.

Non-Custodial Wallets

If opting for a non-custodial wallet, look for:

  • PIN / Biometrics: The main safeguard for keeping non-custodial wallets safe is a PIN or biometric. Never share this with anyone.
  • Multi-Sig Permissions: This security guard splits transaction permissions across multiple wallets. This means the user needs to confirm outgoing transfers with at least two different private keys.
  • Offline Storage: Some non-custodial wallets – including software-based ones, enable users to keep their private keys offline. In doing so, the crypto tokens cannot be transferred until they are brought back online.

These are just some of the security features that investors should look for choosing a UAE Bitcoin wallet. But ultimately, just remember neither custodial nor non-custodial wallets are 100% secure. As noted above, responsibility also falls on the shoulders of the investor.


Wallets are a crucial component when buying and selling cryptocurrencies in the UAE. They ensure the crypto tokens remain safe and enable users to send and receive funds.

We found the Best wallet perfectly balances user-friendliness, safety, and features. It emphasizes decentralization to reduce reliance on traditional custody solutions. Leveraging AI technology provides real-time insights and assistance for novice and seasoned crypto users.

Head over to the Best Waller website today to join its waitlist and be among the first to access the wallet.

Cryptoassets are a highly volatile unregulated investment product.



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Kane Pepi

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…