The best custodial crypto wallets

A custodial crypto wallet let’s you hold, send, receive and in some cases also invest your crypto assets. However, you are not in full control over your funds. Instead, you trust the wallet provider to “custody” your funds for you. Custodial wallets are convenient and good for beginners.

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Our Pick

Wirex

4.3 out of 5

Buy Fees / Sell Fees :0% / 0%

Wirex offers a borderless account that holds a range of fiat currencies and crypto and lets you seamlessly exchange between the two.

The best thing

A debit card that gives you 0.5% cashback in Bitcoin for every purchase you make

Assets

Waves, NANO, Stellar, Bitcoin, Ether.

Payment Methods

Bank Transfer, Credit card.

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Runner up

Coinbase

4.1 out of 5

Buy Fees / Sell Fees :~1.5% / ~1.5%

Founded in 2012 in San Francisco, Coinbase is a custodial digital currency wallet with an integrated trading platform.

The best thing

Simple to use and good reputation

Assets

Bitcoin Cash, Ethereum Tokens, ZCash, EOS, Tezos, Stellar, Ripple, Litecoin, Bitcoin, Ether.

Payment Methods

Bank Transfer, SOFORT, Credit card, Paypal.

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Only USA

OnJuno

4.6 out of 5

OnJuno offers a US citizens a crypto native bank account allowing to users to get their salary paid in crypto.

Assets

Bitcoin, Ether, USDC, Algorand, Avax.

Payment Methods

Bank Transfer, Credit card.

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Crypto.com

4.1 out of 5

Buy Fees / Sell Fees :0% / 0%

Crypto.com offers a wallet and a suit of adjacent services letting you use your crypto to get a loan, lend it out and earn interest on it or spend it through one of their debit cards.

The best thing

Earn interest on your crypto funds

Assets

Cardano, Bitcoin Cash, Ethereum Tokens, Binance, EOS, Tezos, Stellar, Ripple, Litecoin, Bitcoin, Ether.

Payment Methods

Bank Transfer, Credit card.

Order a card and receive $25 worth of CRO tokens

Learn more about Crypto.com Try Crypto.com now!

Wallet guide

Custodial vs non-custodial wallets

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Custodial wallets are like banks. They are provided by a centralized entity who controls your assets and saves them for you. If you want to move funds out of your custodial wallet you need to request a withdrawal. Importantly, with a custodial wallet you can’t access decentralized applications (dApps) on the blockchain.

Non-custodial wallets allow you to keep complete ownership of your funds. Holding crypto assets in a non-custodial wallet is the equivalent of holding cash in the real world. Your funds are stored on the Blockchain and you have direct control over them. Most wallets allow you to hold, send & receive funds on multiple blockchains.

FAQ

Frequently asked questions

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How do crypto wallets make money?

The business models of custodial wallet providers differ. Most make money when you trade one crypto asset for another or buy a crypto asset using fiat currency. Many also offer add-on services like crypto cards allowing you to spend your crypto in stores or to lend your crypto assets and earn interest on it.

I live in country X, can I get a custodial wallet?

Custodial wallets offer their services in a limited number of countries. Because custodial wallets hold your funds in custody and handle fiat payments they are subjected to regulation (unlike non-custodial wallets). This means they can only operate in whichever country they hold licenses. Search for a wallet that operates in your country.

How do I choose a good custodial wallet?

When it comes down to choosing a good custodial wallet look at two things: a) reputation b) fees. Good reputation matters because it means the company has a track record of doing things right, no hacks, good customer support etc. Fees matter as well.