Best Crypto Wallets for Canadians

Canadians have borne witness to a historic year in 2024 as the price reached an all-time high of ~$100,000 CAD / ~$73,500 USD according to Coinmarketcap.com data, on March 13th. That’s a pretty darn amazing historical accomplishment in the world of cryptocurrencies. With the value apparently moving upwards long-term, where’s the best place to stuff your crypto safe and sound? The breadth of wallet options continues to expand and evolve — offering enhanced security features, broader cryptocurrency support and user-friendly interfaces. Here’s a look at some of the best crypto wallets to consider for storing your bitcoin and other digital currencies in 2024.

Exodus Wallet

Type: Mobile and Desktop Hot Wallet
Price: Free
Accepted Cryptocurrencies: Over 300 cryptocurrencies
Compatible Hardware Wallet: Trezor

Exodus remains one of the top Canadian hot wallet choices for both beginners and experienced users due to its intuitive interface and broad cryptocurrency support. It allows for seamless integration with Trezor hardware wallets for added security. The wallet also supports in-app crypto exchanges and staking features. It’s MyBTC.ca’s #1 choice as a trusted electronic hot wallet. Download Exodus to your device here.

Pros:

  • User-friendly interface
  • Supports over 300 cryptocurrencies
  • Integration with Trezor for enhanced security

Cons:

  • Lacks two-factor authentication
  • Not open-source

Trezor Wallet

Type: Hardware Wallet
Price: ~$60 for Trezor Model One, ~$200 for Trezor Model T
Accepted Cryptocurrencies: Over 1,800 cryptocurrencies

Trezor continues to be a leading hardware wallet, offering security features and support for a wide range of digital assets. The Model T features a touchscreen for easier navigation, while both models ensure that private keys are kept offline. Buy your Trezor Hardware Wallet here.

Pros:

  • Excellent security features
  • User-friendly touchscreen on Model T
  • Supports over 1,800 cryptocurrencies

Cons:

  • Model T is relatively expensive
  • No wireless connectivity

Ledger Nano S Plus and Nano X

Type: Hardware Wallet
Price: ~$80 for Nano S Plus, ~$150 for Nano X
Accepted Cryptocurrencies: Over 5,500 cryptocurrencies

Ledger’s Nano S Plus and Nano X offer excellent security and support for a vast range of cryptocurrencies. The Nano X provides Bluetooth connectivity for mobile use, while the Nano S Plus is a more affordable option with similar features, minus the Bluetooth capability. Buy your Ledger Nano today here.

Pros:

  • High security with offline key storage
  • Supports staking and DeFi applications
  • Nano X offers Bluetooth connectivity

Cons:

  • Nano S Plus lacks Bluetooth
  • Nano X is pricier

ColdCard Wallet

Type: Hardware Wallet
Price: ~$130
Accepted Cryptocurrencies: Bitcoin only

ColdCard is designed exclusively for Bitcoin, offering advanced security features such as PIN codes and seed phrases. It supports offline transactions via an SD card reader, ensuring maximum security for BTC holders. Buy your ColdCard Hardware Wallet here.

Pros:

  • Superior security measures
  • Offline transaction support
  • Open-source technology

Cons:

  • Only supports Bitcoin
  • May be complicated for some users

Atomic Wallet

Type: Mobile and Desktop Hot Wallet
Price: Free
Accepted Cryptocurrencies: Over 500 cryptocurrencies

Atomic Wallet is a versatile software wallet that supports a broad array of cryptocurrencies. It offers built-in exchange services, staking, and a decentralized interface for managing your crypto assets. The wallet also emphasizes security by keeping private keys stored on the user’s device. Download the Atomic Wallet app here.

Pros:

  • Supports a wide range of cryptocurrencies
  • In-app exchange and staking features
  • Strong security with private keys stored locally
  • Made in Canada! 🇨🇦

Cons:

  • Customer support can be slow
  • Interface can be overwhelming for beginners

Choosing the Right Wallet

When selecting a crypto wallet — consider factors such as security, ease of use, supported cryptocurrencies and additional features like staking and DeFi integration. Hardware wallets like Trezor and Ledger provide the highest security, while software wallets like Exodus and Atomic Wallet offer convenience and a broad range of functionalities. Remember, “not your keys, not your coins!” — if you aren’t in control of your private keys, somebody else has access to your crypto.

Please perform your due diligence before selecting the wallet that suits your needs best. Although MyBTC.ca recommends the wallet suggestions in this article, it is up to the owner of the wallet to be vigilant and ultimately responsible for their trades and safekeeping of their virtual currencies. For more information and to explore each wallet in detail, you can visit the reviews on NerdWallet.

MyBTC.ca is committed to our client’s safety and financial success. Never give your private keys to anyone no matter what the scenario.

Published: 2024-05-21

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