
Exploring The Different DeFi Wallets
What makes DeFi wallets appealing to many is its anonymity — No need for you to verify your information or even provide any background information... your identity is not at stake.
This revolutionary concept of having absolute control over your money instead of a bank is led by the following wallets:
Argent Wallet

Claims to be the ‘most simple and secure smart wallet for crypto’
Simple addresses, free transactions, and no need for a paper backup
Users can stake coins within the wallet and earn up to 20% per year on coins such as AAVE, YFI, and COMP
Buy crypto with Apple Pay, debit card, or bank transfer
Trade up to 700 different cryptocurrencies within the app, with live exchange rates
Access several decentralized applications from within the Argent app
Mobile-only design, compatible with iPhones and Android devices
Free to download
Argent is Non-custodial and with no seed phrase. This has been achieved by rethinking the security approach to DeFi wallets
Argent is on the Ethereum blockchain, so you’ll find only find Ethereum-based projects such as ETH, BAT, DAI, MKR and WBTC
Even if you lose your phone, it’s easy to recover your account, so don’t worry about losing your crypto investments
Atomic Wallet

Very popular among the DeFi community, the versatile Atomic wallet is available on 5 different operating systems for computers - Windows, iOS, Ubuntu, Debian, and Fedora
It is also compatible with iOS and Android mobile devices
As a multi-asset wallet, this is a great place to store coins from different blockchains
Open-source and incredibly secure, with client-side encryption offering non-custodial benefits to wallet holders
Some of the best technology in the Defi wallet world, including atomic swaps, internal staking (up to 20%), their own cryptocurrency (which can also be staked) and a low-fee cross-chain trading platform
Users are completely anonymous, not even an email address is needed to sign up or sign in
Owned and built by the same team as Changelly
Account recovery is quite easy to manage in case of a lost or stolen device
With 24hr charts and live pricing data, the wallet doubles up as a great portfolio management tool
Buy Bitcoin, Litecoin, Ethereum, XRP, and BCH with your bank card. Atomic accepts USD, EUR, and various other local currencies (by applying an FX rate)
Hundreds of different cryptocurrencies from different blockchains, though primarily ERC-20 tokens, meaning Atomic can be used to store NFTs
Coinbase Wallet

Non-custodial wallet where the private keys are stored on the user’s device
Originally released as Toshi, it was later rebranded to Coinbase Wallet
dApp browser built into the wallet to allow for Web3 application exploration
Receive and send funds with a username as opposed to a long and typical cryptocurrency wallet address
No Coinbase account is required to use a Coinbase Wallet
Stores cryptocurrencies and NFTs, with over 500 assets available to trade within the app
Typically used as a mobile app, however, users can also take advantage of Coinbase Wallet’s Chrome browser extension version, which allows it to compete with MetaMask as a gateway provider
Earn interest on your crypto or loan it out to gain rewards directly through the application
Available on iOS and Android devices
Dexwallet

Multi-currency mobile-only wallet for iOS (not Android)
Great user experience and simplicity
Offers compounding tools to help users generate even greater rewards on their stored crypto, something that few wallets offer
Borrowing and lending features allow Dexwallet holders to collateralise their assets for cash or make stable returns by lending certain cryptocurrencies to other users
Offers a built-in dApp browser for decentralised exploration
Multiple options for those looking to make a passive income
Users can purchase Ethereum with their credit cards directly through the mobile app!
There are a few ways to spend your crypto holdings (DAI) in the real world, thanks to a partnership with Dexpay
Fortmatic (Magic Wallet)

Undergoing a 2021 rebrand from Fortmatic to Magic Wallet after receiving $4m in funding to evolve the service. Read more here
The Web3 wallet grants access to dApps in the same way that MetaMask and Trust Wallet do. One difference, however, is that rather than needing a web browser and extension, users connect their account to a phone number or email address. By doing this, users can grant permission and access dApps through their mobile phone or mobile web browser
All of the designs and user experience inclusions are focused on making the DeFi wallet experience easier and more logical for beginners and non-technical users
Non-custodial by nature, meaning your keys = your funds
The Portmatic/Magic Wallet has been designed with open-source code that external developers can attempt to improve upon, with over 6,500 developers contributing code already
Airswap, Bancor, OpenSea, Radar Relay, and Set Protocol have already collaborated with Portmatic to improve on their own services
Click ‘Wallet’ in the top-right hand corner of this page to get started
MetaMask

Not just a crypto wallet, but also a gateway to all blockchain apps on both the Ethereum Network and Binance Smart Chain, making it the DeFi browser wallet of choice for decentralized traders
At least 5 million active monthly users, but growing at such a fast rate that it is expected to overtake its rivals in 2021 in terms of user numbers
Primarily used on web browsers on your PC or laptop, it is also possible to configure MetaMask for mobile, though it can be temperamental
MetaMask works as a login system for many apps and websites, meaning you don’t necessarily need to use it to store crypto
Keys and passwords are generated within the app, and you are asked for permissions any time the browser is needed
From the wallet, you are able to instantly swap between thousands of coins, as price data is fed to the wallet from all of their partnered exchanges and services. Be aware though, if using cryptocurrencies on the Ethereum network, fees can be high, and you will need to have some ETH in your wallet to complete any transactions
With a full-time team of more than 25 engineers and developers, it’s no wonder MetaMask has become the go-to DeFi wallet of 2021
Compatible with Chrome, Firefox, Brave, and Edge browsers, as well as iOS and Android devices
Portis

Very similar to Fortmatic, Portis is a non-custodial blockchain wallet that makes connecting to dApps super easy
You’ll find the browser extension pretty straightforward to use, with an elegant design and basic features. There’s nothing overcomplicated here to cause confusion
The open-source code encourages other developers to add Portis to their decentralized apps as a gateway method
The private key is encrypted at the client’s side because Portis is non-custodial. However, to make things easier, you can sign in with an email address and password
US residents can purchase BTC, ETH, and DAI (non-US can also buy XDAI) directly through Portis using a debit or credit card. Amazingly, you don’t need to do ID checks either, only KYC level 1 will suffice (email address)
Portis offers multi-blockchain support for Ethereum, Bitcoin, EOS, SKALE, Matic, Ubiq, Thundercore, RSK, POA, xDai, Fuse, and Lightstreams
Portis has created a really cute demo platform to learn how to use their wallet, called CryptoPuppers - check it out here
Dozens of the best cryptocurrency projects have already partnered with Portis, as can be seen in their directory here
Torus

Torus is a decentralized gateway wallet, much like MetaMask, TrustWallet, and some of the other rivals in this directory, however, it offers a unique selling point that the others don’t - OAuth logins
Users can choose to login to their decentralized wallet using their Google, Facebook, Reddit, Discord, or Twitch account, bringing dApps to mainstream users
This feature does essentially give up the anonymity that decentralized finance provides, but it allows beginners a way to bypass blockchain jargon and make their accounts more easily recoverable
Despite these mainstream logins, Torus is still non-custodial and your private keys remain yours thanks to multi-party computing (MPC) technology
Wallet holders can buy cryptocurrencies directly with debit or credit card, or even wire transfer, directly through Torus, without leaving the app
No registrations, downloads, or installations needed
Trust Wallet

Multi-asset mobile-only wallet
Offers a simple design that makes it easy to open a wallet
Users are able to recover their accounts easily in case they lose their phone
Private keys are stored on the user’s mobile, making this a non-custodial DeFi solution
Built-in DeFi exchange service
The staking service supports five different DeFi cryptocurrencies, including CAKE, which offers 220% APR!
A built-in WEB3 browser feature allows users to gain access to certain decentralized applications
Trust Wallet actively encourages developers to build on top of its code to create new solutions
Users can even store their NFTs inside their Trust Wallet
Buy Bitcoin, Ethereum, or Binance Coin directly with your Visa or Mastercard from within the app
The wallet supports many different blockchains, meaning it can hold a much wider range of coins than many of its rivals
With more than 10 million users, it is arguably the most popular decentralized cryptocurrency wallet ever designed