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Best Wallet Cryptocurrency is a mobile cryptocurrency exchange and noncustodial multi-chain and multi-wallet for trading digital currencies. It’s a one-stop shop for all things crypto and decentralized trading. However, it’s a new platform still under development and its functionality is limited.
Business Insider compared Best Wallet to the best cryptocurrency exchanges and found it lacking notable features like limit orders, NFTs, and a browser extension. That said, Best Wallet does plan to roll out these features in the future.
Best Wallet
Insider’s Rating
A five pointed star
A five pointed star
A five pointed star
A five pointed star
A five pointed star
3.3/5
Fees
no service or platform fees
Pros
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Mobile-forward platform
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
50+ blockchains for access to thousands of cryptocurrencies
Check mark icon
A check mark. It indicates a confirmation of your intended interaction.
Transparent and accessible approach to cryptocurrency education and services
Cons
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Two crossed lines that form an ‘X’.
Encourages trading through gamification strategies
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Two crossed lines that form an ‘X’.
Majority of advanced tools and features are unavailable
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Two crossed lines that form an ‘X’.
No browser extension
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Two crossed lines that form an ‘X’.
Limited customer support available
Product Details
Multi chain, multi wallet support, ability to buy crypto with fiat
Exclusive access to new meme coin tokens and fair launches
Staking and airdrop rewards with the native $BEST token
Introduction to Best Wallet
Best Wallet Cryptocurrency is a mobile-first, modern, decentralized, non-custodial wallet offering access to 50+ chains. It gives investors full control and ownership over their private keys and tokens. It runs on the Ethereum network.
The app aims to enhance security and privacy through community governance by holding $BEST, the platform’s native coin. It also looks to go above and beyond existing exchanges like Coinbase and Binance through enhanced features like presale tokens, higher staking rewards, and improved wallet recovery.
You can trade popular cryptocurrencies like Bitcoin, Ethereum, Dogecoin, and thousands more. Best Wallet allows direct trading between cryptocurrencies through the crypto-to-crypto swap mechanic.
Best Wallet has a Support hub for how to use the app, airdrops, troubleshooting, and similar questions. However, the platform doesn’t offer direct access to a customer support representative by phone or live chat. There is a public email address to contact the business (contact@bestwallet.com), but it’s hard to find.
Cryptocurrencies are highly volatile assets. Best Wallet uses gamification strategies to increase user engagement, meaning Best Wallet is not for novice investors. Even experienced investors should be cautious of gamification in crypto and other investment platforms, which could lead people to make rash decisions.
In addition, Best Wallet is a new app and company with limited features and tools. Although it is transparent about its future plans, there’s no telling when features like portfolio management, market insights, and stop-loss orders will actually become available to users.
How Best Wallet Works
Best Wallet’s mobile app lets you buy, sell, store, swap, and stake cryptocurrencies all on the same platform. You can manage your entire crypto portfolio through Best Wallet, which supports over 50 chains and over 200 decentralized exchanges.
You can even deposit crypto funds from another crypto wallet or centralized exchange into Best Wallet through the app’s Deposit feature.
Best Wallet Cryptocurrency is only in Phase 2 of its road map development plan. Less than half of the most noteworthy tools and features are active, with portfolio management and market insights featured as “coming soon” on the Best Wallet’s homepage.
Other features in progress are:
The Best Card launchNFT GalleryIn-app crypto news feeDerivatives tradingGas token-free transactionsLimit and stop-loss ordersAdvanced anti-fraud protection
Best DEX
Best DEX is Best Wallet’s integrated aggregator powered by Rubic. It helps investors find the best rates for same-chain or cross-chain crypto swaps.
$BEST
Best Wallet’s native governance token is $BEST. Holding $BEST tokens reduces transaction fees and offers higher APY staking opportunities. It allows you to have a say in future decisions about Best Wallet, such as adding new blockchains or features.
Best Airdrop
You can earn $BEST tokens by completing daily and weekly quests on the Best Wallet app. This includes exploring the app’s wallet features, swapping cryptocurrencies, and purchasing presales in the Upcoming Tokens portal.
Users can register through the Best Airdrop page to connect their digital wallets and social media accounts. Tokens can be claimed at the end of each airdrop.
Upcoming Tokens
The Upcoming Token’s portal allows you to purchase exclusive tokens at a lower price two weeks before it’s made available to other wallet providers.
Best Wallet Fees
Best Wallet is free to download and doesn’t charge service or platform fees. Additional transaction and trading fees may apply depending on the cryptocurrency and its trading method.
These charges include:
Gas feesLiquidity provider fees (Protocol fees)Processing fees
Pros and Cons of Best Wallet
Pros
Mobile-forward platform50+ blockchains for access to thousands of cryptocurrenciesTransparent and accessible approach to cryptocurrency education and services
Cons
Gamification strategiesThe majority of advanced tools and features are currently unavailableNo browser extensionLimited customer support available
Best Wallet Trustworthiness and Security
Best Wallet is based in Bulgaria. Best Wallet does not have a rating from the Better Business Bureau, so carefully review its privacy policy, terms of service, and website disclosures to ensure you’re comfortable investing through the platform.
It employs various investment and cryptocurrency industry-standard security procedures to protect users’ assets and personal information. This includes firewall protection and advanced cryptographic techniques for private key management. However, your data is not encrypted.
Best Wallet encourages users to be wary of phishing attempts and fraudulent activity. It suggests setting up biometric authentication, enabling two-factor authentication, and staying up to date on the platform’s social media in case of important information.
Crypto exchanges generally lack uniform regulation, which can be inconsistent between different exchanges. Limited consumer protection and a general lack of investor information leave people vulnerable to potential scams and fraudulent activity.
While this doesn’t necessarily mean that crypto platforms are trustworthy, there is an increased risk of unethical trading practices, scams, and other fraudulent activity.
Google Play: 4.3/5
Apple Store: 4.6/5
Best Wallet vs. Other Cryptocurrency Exchanges
Here’s how Best Wallet compares to other top cryptocurrency exchanges.
Best Wallet vs. Coinbase
Coinbase is one of the largest and most well-known crypto exchanges in the U.S. It’s a popular option for sophisticated crypto traders who want to access secure wallet storage and powerful trading tools.
Although Best Wallet Cryptocurrency aims to surpass exchanges like Coinbase with its mobile-forward approach and promise of increased benefits, it currently pales in comparison to Coinbase’s library of educational content, comprehensive Coinbase Wallet, Crypto IRAs, and advanced trading strategies and opportunities like Coinbase One and Coinbase Private Client Services.
Read our Coinbase review
Best Wallet vs. Crypto.com
Like Best Wallet, Crypto.com is a mobile exchange providing access to many cryptocurrencies, wallet storage, and staking opportunities.
Crypto.com doesn’t offer nearly as many digital coins and tokens as Best Wallet. Best Wallet is the better platform for those interested in direct trading between cryptocurrencies.
But unlike Best Wallet, which has yet to roll out most of its promised features and tools officially, Crypto.com is actively offering its users Visa card features, an NFT trading platform, and a web trading platform. It also offers shopping options for those who want to spend cryptocurrencies on goods and services.
Read our Crypto.com review
Methodology: How We Reviewed Best Wallet
We reviewed Best Wallet using Business Insider’s rating methodology for investing platforms to compare security, features, ethics, investment options, and overall customer experience when reviewing crypto trading platforms. Crypto exchanges are given a rating between 1 and 5.
Cryptocurrency exchanges offer multiple assets, trading tools, fees, and other resources. Because of the volatile nature of cryptocurrencies like Bitcoin and Ethereum, only experienced traders with a high risk tolerance should invest through a crypto exchange.
Business Insider’s Overall Best Wallet Rating
Best Wallet FAQs
Best Wallet is a decentralized, mobile cryptocurrency trading platform for storing, staking, selling, and purchasing thousands of digital coins and tokens all on one platform. The platform only offers limited services, including crypto presales and crypto-to-crypto swaps.
Best Wallet stands out from other cryptocurrency exchanges as an accessible, mobile-forward trading platform that aims to improve privacy and security through community governance. However, Best Wallet is a newer platform that has yet to roll out most of its promised features and tools.
Best Wallet is not suitable for beginners due to the high risk and volatility of owning cryptocurrencies, lack of universal regulations, and gamification techniques.
Tessa Campbell
Investing and Retirement Reporter
Tessa Campbell is an investing and retirement reporter on Business Insider’s personal finance desk. Over two years of personal finance reporting, Tessa has built expertise on a range of financial topics, from the best credit cards to the best retirement savings accounts.ExperienceTessa currently reports on all things investing — deep-diving into complex financial topics, shedding light on lesser-known investment avenues, and uncovering ways readers can work the system to their advantage.As a personal finance expert in her 20s, Tessa is acutely aware of the impacts time and uncertainty have on your investment decisions. While she curates Business Insider’s guide on the best investment apps, she believes that your financial portfolio does not have to be perfect, it just has to exist. A small investment is better than nothing, and the mistakes you make along the way are a necessary part of the learning process.Expertise: Tessa’s expertise includes:Credit cardsInvesting appsRetirement savingsCryptocurrencyThe stock marketRetail investingEducation: Tessa graduated from Susquehanna University with a creative writing degree and a psychology minor.When she’s not digging into a financial topic, you’ll find Tessa waist-deep in her second cup of coffee. She currently drinks Kitty Town coffee, which blends her love of coffee with her love for her two cats: Keekee and Dumpling. It was a targeted advertisement, and it worked.
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