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:

  1. Argent Wallet

  2. Atomic Wallet

  3. Coinbase Wallet

  4. Dexwallet

  5. Fortmatic (Magic Wallet)

  6. MetaMask

  7. Portis

  8. Torus

  9. Trust Wallet


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



  • 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



  • 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



  • 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 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


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