10 Best Non-Custodial Crypto Wallets for 2023

Non custodial wallets give crypto investors full control of their private keys. This means that the crypto tokens can be stored and transferred without third-party interference.

Not sure which non-custodial wallet to use? This guide reviews the 10 best non custodial wallets for safety, fees, supported coins, features, and more.

The Top 10 Non Custodial Wallets Ranked

Listed below are the 10 best non custodial wallets to consider in 2023:

  1. MetaMask – MetaMask is one of the best non-custodial wallets on the market. Used by over 30 million people, MetaMask can be accessed via a mobile app and browser extension. It provides users with an encrypted private key through a simple 12-word passphrase. The wallet supports the Ethereum network, as well as Arbitrum, Polygon, Binance Smart Chain, Optimism, and Avalanche.
  2. Trust Wallet – Trust Wallet is a non custodial wallet that supports Bitcoin and 70 other network standards. The wallet comes as an iOS and Android app, plus a browser extension for Chrome. Trust Wallet has an in-built staking tool and provides access to Web 3.0 dApps. This is also a great option for storing NFTs.
  3. Electrum – Launched in 2011, Electrum is a desktop wallet that supports Bitcoin. It comes packed with security tools, including multi-sig permissions. Users can elect to keep their private keys offline, offering an additional layer of security. Electrum indexes the Bitcoin blockchain, providing users with faster and more efficient transactions.
  4. Trezor – This non-custodial wallet comes as a hardware device. This keeps the crypto tokens and private keys offline at all times. In addition to cold storage, Trezor is protected by a PIN. This needs to be entered on the Trezor device when making transfers. Trezor supports over 1,000 cryptocurrencies, including Bitcoin, Ethereum, and XRP.
  5. BitAddress – BitAddress is one of the best non-custodial paper wallets for storing Bitcoin in cold storage. It’s completely free to use and enables users to instantly create Bitcoin addresses. Each generated address comes with private keys and can be printed as a QR code. This makes BitAddress a cost-effective alternative to Trezor.
  6. Coinbase Wallet – This non-custodial wallet is backed by the Coinbase exchange. That said, Coinbase Wallet does not have access to the user’s private keys, ensuring that investors control their crypto tokens. Coinbase Wallet supports dozens of blockchain networks, and users can seamlessly connect to dApps like Uniswap and OpenSea.
  7. Coinomi – Coinomi is an established non-custodial wallet supporting 125 blockchains. This wallet can be downloaded as an Android or iOS app. Coinomi also supports desktop software for Windows and Mac. One of its best features is cold staking – allowing users to earn income without exposing their private keys to live servers.
  8. OKX – OKX offers an all-in-one ecosystem that supports multiple blockchains – including Ethereum, Polygon, and Binance Smart Chain. This is a great option for earning interest on idle crypto tokens, as OKX sources the best APYs from over 200 dApps. OKX also supports in-wallet token swaps across thousands of cryptocurrencies.
  9. Exodus – This non-custodial wallet is popular with long-term investors that hold multiple cryptocurrencies. Exodus offers a user-friendly dashboard that provides investors with real-time pricing in their preferred currency.  Users can access Exodus via its app or desktop software. Exodus also offers a Chrome browser extension.
  10. MyEtherWallet – MyEtherWallet is a great option for storing Ethereum-based cryptocurrencies. It supports the best ERC20 tokens in the market, including ApeCoin, Uniswap, Aave, DAI, and Tether. MyEtherWallet is available as a free mobile wallet app for iOS and Android.

What is a Non-Custodial Wallet?

Let’s break down the non custodial wallet meaning for beginners:

Put simply, non-custodial wallets are owned and controlled solely by the user. There is no interaction with centralized entities, ensuring that only the user can access their cryptocurrency investments.

Non-custodial wallets allow crypto investors to become their own bank. This is because non-custodial wallets give users full control of their private keys. The private keys can not be accessed by the wallet provider, so only the user can authorize transactions. In other words, there is no requirement for users to go through a third party when storing or transferring cryptocurrencies.

This is in contrast to custodial wallets, which sit between investors and their private keys. And hence, investors can only execute transactions after the custodial wallet provider approves them. Non-custodial wallets are not without their risks. After all, users must take full responsibility for the safety of their non-custodial wallets.

If the wallet is hacked, the non-custodial provider cannot help recover the cryptocurrencies. Nor can they help if the user loses their private keys. Non-custodial wallets are available in many different forms. This includes mobile apps for iOS and Android, as well as browser extensions for Chrome and Firefox.

Some investors opt for non-custodial wallets offering cold storage. This includes hardware and paper wallets. Non-custodial wallets also come as desktop software for Windows and Mac. Each option comes with varying levels of security and convenience.

Best Non Custodial Crypto Wallets Reviewed

Now let’s move on to our reviews of the best non-custodial wallets for 2023.

1. MetaMask – Overall Best Non-Custodial Wallet 2023  

We found that MetaMask is the overall best non-custodial wallet in the market. Launched in 2016, MetaMask is used by more than 30 million crypto investors. It can be accessed on two different devices – mobiles and web browsers. The former includes an app for iOS and Android, while the latter is supported by Chrome, Firefox, Edge, and Brave.

Given that it’s connected to the internet, this makes MetaMask one of the best hot wallets on the market as it also provides a decentralized wallet that’s outside the reach of centralized agencies.

Like most non-custodial wallets, Metamask is protected by a password (browser extension) or PIN (mobile app). This needs to be entered every time the wallet is opened. Moreover, when setting up the wallet, MetaMask provides users with a 12-word passphrase. This represents the user’s private keys. The passphrase should only be used when the password/PIN is forgotten, or the user needs to access their wallet from a new device.

Metamask review

While MetaMask does not support Bitcoin, it is compatible with Ethereum and all ERC20 tokens. Users can also manually add Arbitrum, Polygon, Binance Smart Chain, Optimism, and Avalanche. All native tokens from within these networks are supported. There are no fees to download MetaMask, not to receive cryptocurrencies.

GAS fees are charged when making transfers, but MetaMask does not add a markup. The MetaMask ‘Portfolio’ feature allows users to earn staking rewards on Ethereum. This feature is backed by Rocket Pool and Lido. MetaMask also supports token swaps, charging 0.875% of the transaction amount.

Metamask Wallet Staking 

This fee is built into the exchange rate that MetaMask sources from its partnered exchanges. MetaMask is also one of the best non-custodial wallets for accessing dApps like PancakeSwap and UniSwap. MetaMask is also commonly supported by the best ICOs, enabling investors to buy new cryptocurrencies before they are launched.

In terms of drawbacks, MetaMask lacks support for many of the most popular cryptocurrencies in the market. Not only does this include Bitcoin, but XRP, Solana, and Cardano. Another drawback is that MetaMask only comes preinstalled with the Ethereum network. While other networks are supported, these need to be manually added by the user.

Investors can check out our in-depth MetaMask review here to determine if it’s the best non-custodial wallet for their needs.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Browser extension  and mobile app All tokens on the following networks: Ethereum, Arbitrum, Optimism, Binance Smart Chain, Polygon, and Avalanche No fees for storing and receiving crypto. GAS fees are charged as quoted by the blockchain. 0.875% fee for swapping tokens. Yes Yes – in-built staking for Ethereum. Provided by Rocket Pool and Lido. 4.19%

Pros pros

  • Best non-custodial wallet for storing ERC20 tokens
  • Free to store and receive cryptocurrencies
  • Swap tokens and earn interest without leaving the wallet interface
  • Launched in 2016 and used by over 30 million investors
  • User-friendly interface will appeal to beginners

Cons cons

  • Only comes preinstalled with Ethereum – other networks need to be added manually
  • Does not support Bitcoin
  • Staking tool is only compatible with two providers – Rocket Pool and Lido

2. Trust Wallet – Decentralized Wallet Supporting 4.5 Million Digital Assets   

Trust Wallet more than covers MetaMask’s shortfall when it comes to supported networks. Put simply, Trust Wallet is compatible with over 70 blockchains and more than 4.5 million digital assets. This covers everything from Bitcoin and XRP to Solana, Cardano, and Ethereum.

Trust Wallet is also compatible with NFTs, making this the best non-custodial wallet for diversified portfolios. Trust Wallet is available as a mobile app for iOS and Android. It also offers a browser extension for Chrome, but there is currently no support for Edge or Firefox. Similar to MetaMask, Trust Wallet users must choose a password or PIN when setting the wallet up.

Trust Wallet review

Trust Wallet will then provide users with their private keys, shown as a 12-word passphrase. For added security, users can increase the passphrase to 24 words. We found that Trust Wallet is one of the best non-custodial wallets for accessing dApps. It seamlessly connects to UniSwap, PancakeSwap, Compound, and thousands of other dApps from within the wallet.

Trust Wallet also supports WalletConnect, enabling users to connect to dApps via a QR code. There is also an in-built staking tool, and users can swap tokens across multiple blockchains.  There are no fees charged by Trust Wallet for any of its primary services. While GAS fees are payable when transferring funds, users pay this directly to the blockchain.

Trust Wallet review

In terms of drawbacks, we found that Trust Wallet offers limited customer support. While it offers a support ticket system on its website, replies are often slow. Moreover, we found that Trust Wallet uses Simplex to facilitate fiat money deposits. Simplex charges up to 5%, so this feature should be avoided.

Here’s our more detailed Trust Wallet review.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Browser extension  and mobile app 4.5 million tokens across 70 blockchain networks No fees for storing and receiving crypto. GAS fees are charged as quoted by the blockchain. No fees for swapping tokens or staking. Yes Yes – in-built staking for multiple cryptocurrencies. 84%

Pros pros

  • Best non-custodial crypto wallet for portfolio diversity – over 4.5 million digital assets supported
  • Supports by iOS, Android, and Chrome
  • Easily access Web 3.0 dApps without leaving the wallet
  • Backup passphrase can be increased to 24 words for added security

Cons cons

  • High debit/credit card fees
  • Limited customer support
  • Is yet to release a browser extension for Firefox or Edge

3. Electrum – Best Desktop Wallet for Storing Bitcoin      

We found that Electrum is the best non-custodial wallet for storing Bitcoin on desktop devices. While at first glance, the Electrum website looks overly basic, its wallet is ultra-secure. For example, we like that Electrum allows users to set up multi-sig permissions.

In a nutshell, this requires users to verify outgoing transactions with multiple private keys. So, even if one private key is hacked, they wouldn’t be able to steal the user’s Bitcoin. Another security feature is cold storage. Electrum allows users to keep their private keys offline, with the wallet viewable in ‘read only’ mode.

Electrum review

The wallet only needs to be brought back online when making transfers. We also like that Electrum indexes the Bitcoin blockchain, promoting faster and more efficient transactions. That said, Electrum’s main drawback is that it only supports Bitcoin. Those looking to store ERC20 or BSC tokens will need to consider another option.

Moreover, Electrum does not offer token swaps or staking tools. It doesn’t support dApps, either. Nonetheless, Electrum is completely free to use. GAS fees are forwarded to the blockchain, meaning no markups. Although Electrum is the best non-custodial wallet for desktops, it also offers an Android app. This is ideal when putting the wallet in ‘read only’ mode.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Desktop wallet plus an Android app Bitcoin only Does not support trading services Yes – Android only No N/A

Pros pros

  • Best non custodial Bitcoin wallet for desktop devices
  • Indexes the Bitcoin blockchain for faster transactions
  • Allows users to keep their private keys offline
  • Multi-sig permissions offer increased security

Cons cons

  • Only supports Bitcoin
  • Mobile app has not been developed for iOS

4. Trezor – Top Hardware Wallet Offering Non-Custodial Cold Storage   

Trezor is a leading hardware wallet and one of the best non-custodial options for storing large amounts of cryptocurrencies. Unlike software wallets, Trezor is always offline and never connected to live servers; making it one of the best cold wallets on the market. Moreover, the private keys are stored within the Trezor device.

When setting Trezor up, users will need to choose a PIN. This can be any length from 4 to 50 digits – the longer the better. Outgoing transactions are only possible when the PIN is entered on the Trezor device. This can be an issue for investors that like to regularly trade cryptocurrencies.

Trezor review

For example, suppose an investor is on vacation and desperately wants to exit a cryptocurrency investment. If they don’t have the Trezor device with them, the cryptocurrencies cannot leave the wallet. That said, its high-level security tools are a must for long-term investors with a large portfolio value.

In terms of pricing, we found that the Trezor Model One retails for just $69. Those seeking touchscreen features and support for USB type-C will need to fork out $219. Both options come with support for the Trezor Suite app and desktop software. This allows investors to view their portfolio balances, swap tokens, and earn staking rewards.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Hardware wallet. Also offers a mobile app and desktop software Supports 1,000+ tokens across multiple blockchain standards,  including Ethereum, Bitcoin, BNB, Solana, and Polygon Basic and advanced models at $69 and $219, respectively. Staking and token swap fees are determined by third parties. Yes Yes Not stated. Rates are determined by the respective proof-of-stake network.

Pros pros

  • Best non-custodial hardware wallet in the market
  • Access rock-solid security for just $69
  • Best-suited for large portfolio values
  • Compatible with over 1,000 cryptocurrencies
  • Offers a mobile app and desktop software for token swaps and staking

Cons cons

  • Cannot transfer funds without having access to the device
  • Its premium model retails for $219

5. BitAddress – Best Paper Wallet for Storing Bitcoin Offline  

BitAddress provides Bitcoin investors with a free alternative to hardware wallets. Put simply, BitAddress allows users to create a Bitcoin wallet address at the click of a button. The provider displays the address and its private keys as QR codes.

The idea here is that users can transfer their Bitcoin to the created address, print the QR codes, and keep the paper somewhere safe. In doing so, the private keys are never at risk of being hacked. While inconvenient for actively moving Bitcoin, BitAddress is one of the best non-custodial wallets for security.

BitAddress review

To move Bitcoin from the paper wallet, users will need to import their private keys into a software wallet. This can be done by scanning the QR code printed on the paper. Although BitAddress is a great option for storing Bitcoin, it isn’t compatible with any other networks.

That said, there are plenty of other providers in this space that are able to create paper wallets for XRP, Ethereum, and other cryptocurrencies.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Paper Bitcoin only No fees No No N/A

Pros pros

  • Store Bitcoin in cold storage without needing to buy a hardware wallet
  • Bitcoin wallet addresses and private keys can be printed as QR codes
  • Import private keys into a software wallet when transferring Bitcoin

Cons cons

  • Not suitable for active cryptocurrency investors
  • Only supports Bitcoin wallet addresses
  • Unrecoverable if the paper wallet is lost or damaged

6. Coinbase Wallet – Non-Custodial Wallet App With DeFi Features      

Coinbase Wallet is a decentralized wallet app for iOS and Android devices. It supports thousands of cryptocurrencies, including some of the best altcoins. For instance, Solaba, Dogecoin, Arbitrum, USD Coin, and Litecoin. Bitcoin is also supported, so investors can easily manage their cryptocurrency portfolios under one roof.

It is important to note that the Coinbase Wallet does not collect any personal information from users. Nor does it share any data with the centralized Coinbase exchange. The Coinbase Wallet provides users with their private keys via a backup passphrase. This is encrypted, so Coinbase cannot access the wallet.

Coinbase Wallet review

Coinbase Wallet is also a great option for accessing DeFi applications. It instantly connects to the likes of UniSwap and Yearn.finance, allowing investors to earn passive income. This also enables users to swap tokens without needing to use the centralized Coinbase exchange – which charges 1.49% per trade.  Finally, the Coinbase Wallet is also suitable for buying and storing NFTs.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Mobile app Hundreds of thousands of cryptocurrencies, including Bitcoin, Solana, Ethereum, and USD Coin. Token swaps and staking are determined by the chosen DeFi application. Yes Yes – offered via DeFi applications Determined by the chosen DeFi application.

Pros pros

  • User-friendly wallet interface is popular among newbies
  • Available as a mobile app for iOS and Android
  • Does not share data with the Coinbase exchange
  • Easily connects to DeFi applications

Cons cons

  • Does not support XRP, Stellar, or Bitcoin Cash
  • Does not offer a web browser extension

7. Coinomi – Popular Wallet App Supporting Over  125 Different Blockchain Standards 

Coinomi is a non-custodial wallet with support for desktops and smartphones. Users can download the iOS/Android app or desktop software for Windows and Mac. There are no fees to use Coinomi’s primary features, including storage and incoming transfers.

Outgoing GAS fees go directly to the blockchain at the exact rate quoted by miners. Coinomi is a multi-chain wallet, supporting 125 blockchain networks. This includes everything from Tron and Bitcoin to Ethereum and Binance Smart Chain. Coinomi allows users to manually add a cryptocurrency if the network is supported, but the token isn’t listed.

Coinomi review

This means that Coinomi supports tens of thousands of tokens. That said, there is no support for Solana or Cardano. Nevertheless, we like that Coinomi connects to dApps, enabling users to earn interest and swap tokens. It also supports WalletConnect for seamless DeFi connections on multiple devices.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Mobile and desktop wallet Supports 125 blockchain networks, meaning most cryptocurrencies are supported Fees are only payable when buying crypto with a debit/credit card. This service is provided by Simplex, which charges up to 5%. Yes Yes – cold staking and support for dApps. Cold staking rates are not published – determined by the respective blockchain.

Pros pros

  • Compatible with over 125 blockchains – including Bitcoin and Binance Smart Chain
  • Manually add custom tokens on any supported network
  • Available as a mobile app and desktop software
  • Established in 2014

Cons cons

  • Does not support Solana or Cardano
  • Debit/credit card transactions are processed by Simplex (fee of up to 5%)

8. OKX Wallet – Multi-Chain Wallet App That Aggregates to Over 200 DeFi Platforms   

OKX offers a decentralized crypto wallet with non-custodial storage. It comes as a mobile app for iOS and Android, although the wallet can also be connected to the OKX desktop website. We found that OKX is the best non-custodial wallet for investment features.

For example, it connects to over 15 blockchain networks and 200 decentralized exchanges via a bridge aggregator. This means that token swaps are executed at the very best market rate without leaving the OKX wallet.

As one of the best MPC wallets, OKX charges a variable fee for this service, which is displayed before confirming the swap.

OKX wallet

The OKX bridge aggregator is also compatible with staking, yield farming, and savings accounts. Users simply need to type in the cryptocurrency they want to earn interest on, and OKX displays the highest rates. For example, OKX is currently quoting APYs of over 10% and 13% on BUSD and DAI, respectively. While those holding Tether can earn over 6%.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Mobile app and a browser-extension 15 blockchain networks, including Ethereum, Arbitrum, and Polygon Charges a variable fee for token swaps, but only displayed when setting up the order. Yes Yes – gets the best market rates from over 200 decentralized exchanges Determined by the respective decentralized exchange

Pros pros

  • Bridge aggregator connecting to over 200 decentralized exchanges
  • Secure high rates of interest on thousands of cryptocurrencies
  • Swap tokens at the best market rates
  • Compatible with 15 blockchain networks

Cons cons

  • Does not support Bitcoin
  • Token swap fees are only displayed when setting up the order

9. Exodus – Securely Manage Crypto Portfolios Across Multiple Devices  

Exodus is one of the best non-custodial wallets for long-term crypto investors. It supports over 260 cryptocurrencies and NFTs across multiple blockchains. This includes everything from Bitcoin and Dogecoin to Litecoin, Monero, and XRP.

According to our Exodus wallet review it is compatible with multiple devices. This includes mobiles (iOS/Android) and desktops (Windows/Mac/Linux). Exodus wallets can also be accessed via a browser extension for Chrome and Brave. All supported wallet types are free to download and maintain. The standout feature of Exodus is its portfolio dashboard.

Exodus wallet review

This allows investors to view how their crypto investments are performing. Exodus offers plenty of useful statistics, such as the best and worst-performing tokens over a specific timeframe. Users can also set their preferred currency. This makes it seamless to view real-time token prices in USD, EUR, GBP, and more.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Browser extension, desktop, and mobile wallet Over 260 cryptocurrencies, including Bitcoin, XRP, Dogecoin, and Ethereum Fees are only charged when buying crypto with a debit/credit card. This is determined by Changelly. Yes Yes – some of the best staking coins supported, including Ethereum, Cosmos, and Cardano Up to 18.97%

Pros pros

  • View and manage crypto portfolios across multiple devices
  • Completely free to use and maintain
  • Supports more than 260 cryptocurrencies
  • In-built staking tool with competitive APYs

Cons cons

  • Uses third parties like MoonPay and Ramp for fiat purchases – which have high fees

10. MyEtherWallet – Non-Custodial Mobile Wallet Supporting All ERC20 Tokens    


There are more than 450,000 ERC20 tokens in the market and MyEtherWallet supports them all. It directly connects to the Ethereum blockchain, making it an ideal wallet for actively managing ERC20 token investments. What’s more, MyEtherWallet is completely free to use.

This wallet provider offers a mobile app for iOS and Android. Users control their private keys, which are encrypted and stored on the smartphone device. We also like that MyEtherWallet offers an NFT management dashboard. This supports all NFTs on the ERC721 standard.

MyEtherWallet review

Moreover, MyEtherWallet has its own collection of NFTs that give ownership of confirmed Ethereum blocks. Another top feature of MyEtherWallet is it connects to 1inch and DEX.AG. This enables users to generate passive rewards on cryptocurrencies stored in the wallet.

Type of Wallet Supported Cryptos Fees Mobile App? Staking/Interest? Staking/Interest Rate
Mobile app All ERC20 tokens Fees are payable to dApps when swapping tokens Yes Full validator staking is offered via Staked.us. Liquid staking is offered via StakeWise and Lido Determined by the chosen staking provider

Pros pros

  • One of the best non-custodial wallets for storing Ethereum and ERC20 tokens
  • In-built NFT management dashboard
  • Connects to 1inch and DEX.AG for decentralized trading and investing
  • Supports full validator and liquid staking pools

Cons cons

  • Does not support Bitcoin or other leading networks
  • Web browser extension is provided by a third party

Why Use a Non-Custodial Wallet? Benefits Explained

  • The main benefit of non-custodial wallets is only the user has access to their private keys.
  • This means third parties cannot access the wallet, nor can they reject transactions or freeze the cryptocurrency tokens.

Now let’s take a much closer look at why non-custodial wallets are preferred by many cryptocurrency investors.

Crypto Investors Become the ‘Bank’

Custodial wallets are very similar to bank accounts. This is because the custodian is responsible for looking after the user’s cryptocurrency tokens. But equally, the custodian has full control of the funds, meaning investors need to seek approval when making transactions.

This goes against the core ethos of cryptocurrencies, which strives to decentralize many aspects of the traditional financial space. As such, non-custodial wallets are increasingly becoming popular. They enable investors to become their own bank, meaning the rightful owner of the cryptocurrencies has full control.

In other words, only the owner of the non-custodial wallet can approve transactions.

Frictionless Payments

Non-custodial wallets offer much faster transaction speeds when compared to custodial providers.

For example, when transferring cryptocurrencies from a custodial wallet, the user must first ‘request’ a withdrawal. This means the user needs to wait for the request to be approved. The timescale for approval will vary considerably depending on the custodian. That said, some custodial wallets are known to take hours – even days, to approve transactions.

Now compare the process to non-custodial wallets. As soon as the user confirms a transfer, the transaction will be sent to the blockchain. This means transactions will be processed in line with the network’s average confirmation time. This is often just seconds but will vary depending on the blockchain.

Access DeFi Platforms Directly

We also found that non-custodial wallets are ideal for accessing DeFi platforms. These platforms provide wallet users with an array of features.

  • For example, connecting to Uniswap allows investors to swap cryptocurrency tokens without using a centralized exchange.
  • While connecting to OpenSea allows wallet users to buy and store NFTs.
  • The possibilities are endless, all accessible via most non-custodial wallets.

Even if the wallet doesn’t support DeFi platforms, a simple workaround is to use WalletConnect. This is an in-built feature supported by most non-custodial wallets, allowing users to connect to DeFi platforms via a QR code.

How we Ranked the Best Non-Custodial Wallets

There are dozens of non-custodial wallets in the market. This makes the selection process increasingly difficult.

Below, we explain how we ranked the best non-custodial wallets for this comparison guide.

Device Type

We covered a vast range of non-custodial wallets across many device types. This ensures that all crypto storage requirements are met.

For example, those looking to actively trade cryptocurrencies might prefer a mobile wallet. While those investing large amounts might be better suited for a hardware wallet.

Security Features

We gave priority to non-custodial wallets with the best security features.

MetaMask review

This includes the likes of:

  • Cold storage
  • Backup passphrase
  • Multi-sig permissions

The most secure options are hardware and paper wallets, considering the private keys are kept offline.

Supported Networks

The best non-custodial wallets support plenty of blockchain networks. For example, Trust Wallet supports 70 networks, ranging from Bitcoin, Solana, and Cardano to Litecoin, Ethereum, and Binance Smart Chain.

Trust Wallet supports all cryptocurrencies within each supported network. This is because custom tokens can be manually added by pasting in the contract address.

At the other end of the scale, non-custodial wallets like Electrum accept just one cryptocurrency – Bitcoin. Other networks cannot be added, meaning diversified investors are not catered for.

DeFi Features

We prefer non-custodial wallets that connect to DeFi platforms. For example, MetaMask supports hundreds of dApps, from Open Sea and UniSwap to Compound and Yearn.finance.

This opens up a world of possibilities, as investors can earn interest on their wallet funds. This is achieved through staking as well as crypto savings accounts and yield farming.

How do Non-Custodial Wallets Work?

Non-custodial wallets connect cryptocurrency investors with the blockchain. When setting the wallet up, the user will first need to secure it with a password or PIN. Then, the non-custodial wallet will provide the user with their private keys. In the vast majority of cases, private keys are represented by backup passphrases.

This is usually 12 words, but some providers go as high as 24 words. Nonetheless, the user is the only person that has access to their backup passphrase. Not even the non-custodial provider can view the passphrase, as it’s encrypted away from their servers. The backup passphrase is the secret password for the non-custodial wallet. It allows the holder to access the wallet from any device.

As such, should the backup passphrase get into the wrong hands, the wallet can be accessed. Meaning – bad actors are always on the hunt for backup passphrases, enabling them to steal the wallet’s contents. This should remind users to keep the backup passphrase somewhere safe. Non-custodial wallets also perform other tasks.

At a minimum, this includes the ability to send and receive cryptocurrencies to and from wallets. The transaction is not processed by the non-custodial wallet, but rather the blockchain network. The best non-custodial wallets also offer other features, such as staking, yield farming, token swaps, and fiat currency deposits.

What’s the Difference Between Custodial and Non-Custodial Wallets?

The main difference between custodial and non-custodial wallets is in the ownership of the private keys.

Custodial wallets are centralized entities that store cryptocurrencies on behalf of their users. The provider does not give users access to their private keys. This means that the custodial wallet controls the funds. As such, users need approval before transferring funds.

Trust Wallet review

Non-custodial wallets do not have any control over the user’s cryptocurrencies. The user is the only person to control the private keys. This ensures that only the owner of the cryptocurrencies can authorize transactions.

What Cryptocurrencies Can You Store in Non-Custodial Wallets?

There is a non-custodial wallet to store most, if not all, cryptocurrencies. However, the specific networks supported by each non-custodial wallet will vary widely.

For example, Electrum and BitAddress only support Bitcoin. While MyEtherWallet only supports Ethereum and ERC20 tokens.

Then there’s Coinomi, which supports 125 different blockchains. This includes Bitcoin and Ethereum, as well as Litecoin, XRP, and Tron.

Users should check what networks are supported when searching for the best non-custodial wallets. It’s best to opt for a non-custodial wallet that supports many different networks, as this will make diversification easier later down the line.

Otherwise, the user will need to manage multiple wallets, passwords, and private keys. This can be a logistical nightmare that ultimately leads to mistakes and a loss of funds.

How Many Cryptos Can You Store in a Non-Custodial Wallet?

There is no limit to the number of cryptocurrencies that can be stored in a non-custodial wallet. After all, non-custodial wallets simply provide a gateway to the blockchain.

In fact, some providers allow users to create and manage multiple wallets on the same device. Each wallet will have its own private keys and addresses.

For example, a user might decide to store all of their ERC20 tokens in one wallet. Then they might create a separate wallet to store their BSC tokens.

However, just remember that managing multiple wallets can be complex. Any mistakes that are made could result in a costly outcome.


In summary, non-custodial wallets are popular with investors that want unparalleled control over their cryptocurrencies. Only the investor has access to their private keys, allowing them to become their own bank.

The key takeaway is that investors will need to choose a suitable non-custodial wallet for their personal requirements. For example, those actively buying and selling cryptocurrencies will prefer a software wallet on a smartphone or desktop device.

But those investing large amounts long-term might be better suited for a hardware or paper wallet. Just be sure to have a firm understanding of security practices, as the wallet owner is responsible for safeguarding their private keys.











What is the most secure non-custodial wallet?

What crypto wallets are non-custodial?

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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…