The Best Crypto Wallets for UK Users in 2025
Choosing the right crypto wallet in the UK can be overwhelming. This guide covers the top 7 wallets, key security features, FCA regulations, and hot vs. cold wallets—helping you find the best option for trading, investing, or DeFi.
What’s the Best UK Crypto Wallet Right Now?
The best UK crypto wallet is eToro Money Wallet, offering FCA regulation, GBP support, and seamless trading integration. Coinbase Wallet is ideal for beginners, while Ledger Nano S Plus provides top-tier cold storage. Always store crypto securely in a private wallet for maximum protection.
The Top 7 Best Crypto Wallets in the UK This Year
I remember my first crypto wallet—back in the early days, I had no idea what I was doing. I picked one at random, lost access to a backup phrase, and learned the hard way that security matters. If you’re in the UK and want a reliable, secure, and easy-to-use crypto wallet, I’ve tested and ranked the best options for 2025.
As of November 2024, approximately 12% of UK adults—equivalent to seven million people—own crypto assets, a significant increase from previous years (www.thetimes.co.uk). With crypto becoming more mainstream, choosing the right wallet for security and accessibility has never been more important.
Here are my top picks for 2025, based on personal experience and extensive testing:
- eToro Money Wallet – Best for trading & security
- Coinbase Wallet – Best for beginners & multi-currency
- Cypherock X1 – Best for ultra-secure storage
- MetaMask – Best for Ethereum & Web3 users
- Trezor Model T – Best cold wallet for beginners
- Tangem Ring – Best wearable & mobile security
- Ledger Nano S Plus – Best budget cold wallet
Each of these wallets caters to different needs, from simple mobile apps to advanced cold storage solutions.
Quick Summary: Which Crypto Wallet is Best for You?
If you’re short on time, here’s a quick breakdown of the best wallets:
What’s New for Crypto Wallets in 2025?
The world of crypto wallets is evolving, and 2025 brings major updates:
- FCA Crackdown on Custodial Wallets – The UK’s Financial Conduct Authority (FCA) is set to implement comprehensive regulations for crypto firms by 2026, including rules on market abuse, insider trading, and capital requirements (www.fnlondon.com).
- More Biometric Security – Wallets like Tangem Ring now use fingerprint and NFC authentication, making logins faster and more secure.
- Multi-Chain Support Expands – Many wallets now integrate multiple blockchains. Even MetaMask, traditionally Ethereum-only, is expanding support.
- No More Seed Phrases? – Cypherock X1 is revolutionising security with multi-factor authentication that removes the need for a single seed phrase—so if you lose one part, your funds are still safe.
It’s an exciting time for UK crypto users, with better security, easier access, and more FCA-compliant options.
How These Crypto Wallets Stack Up Against Each Other
To help you decide, here’s how each wallet compares across key factors:
Breaking Down the Best Hot & Cold Wallets for UK Users
Choosing between a hot or cold wallet depends on security needs, usage, and accessibility. I’ve tested each of these wallets personally, so here’s my breakdown of the best options for UK users in 2025.
eToro Money Wallet – Best for Beginners & Secure Trading
Pros
Cons
- Seamless integration with eToro – No external transfers needed.
- FCA-regulated – One of the few wallets compliant with UK laws.
- Supports multiple assets – Store Bitcoin, Ethereum, and other cryptos securely.
- Custodial wallet – You don’t control private keys.
- Higher withdrawal fees – Transferring crypto externally costs more.
- Internal transfers within eToro are free, which is great if you trade on the platform.
- Crypto withdrawals to external wallets incur a higher fee than some non-custodial wallets.
- Network fees apply for blockchain transactions (e.g., Ethereum gas fees).
✅ FCA-regulated, meaning it follows UK financial security standards.
✅ Two-Factor Authentication (2FA) for added login security.
✅ Cold storage for most assets to protect against exchange hacks.
❌ Custodial wallet – eToro holds private keys, so users don’t have full control.
Best Practice: Enable strong 2FA and withdrawal whitelist settings for extra protection.
✔ Best for: UK-based traders who want a FCA-regulated wallet that works seamlessly with a trading platform.
❌ Not ideal for: Users who want full control over their private keys.
Coinbase Wallet – The Most User-Friendly Multi-Currency Hot Wallet
Pros
Cons
- Beginner-friendly – Clean interface and easy setup.
- Supports thousands of tokens – Bitcoin, Ethereum, and ERC-20 tokens.
- Non-custodial – You control your keys.
- Not FCA-regulated – Unlike Coinbase Exchange, the wallet itself isn’t regulated.
- High network fees – Gas fees can be expensive.
- No storage fees, but you’ll pay Ethereum gas fees when sending tokens.
- Swaps within the wallet may include a spread fee, making them pricier than using an exchange.
- Buying crypto with GBP still requires Coinbase Exchange, meaning additional fees.
✅ Non-custodial – You control your private keys.
✅ AES-256 encryption secures stored private keys.
✅ Biometric authentication (fingerprint/Face ID) for mobile users.
❌ Vulnerable to phishing attacks – Users must beware of fake login pages.
Best Practice: Manually back up your recovery phrase and store it securely.
✔ Best for: Beginners who want an easy-to-use, non-custodial wallet with multi-crypto support.
❌ Not ideal for: Users looking for an FCA-regulated wallet.
Cypherock X1 – Next-Level Security with Multi-Factor Authentication (Cold Wallet)
Pros
Cons
- No single point of failure – Even if one piece is lost, you can recover your funds.
- No internet exposure – 100% offline security.
- Multi-factor authentication – Safer than traditional cold wallets.
- Expensive – Costs more than Ledger or Trezor.
- Learning curve – More complex setup.
Cypherock X1 has no ongoing fees beyond the one-time purchase cost, which typically ranges between £200–£250, depending on the retailer. Since it is a hardware wallet, there are no transaction fees, but users must pay network fees when transferring crypto, such as Ethereum gas fees. Unlike some wallets, Cypherock X1 does not charge for firmware updates or backup services, making it a one-time investment with no hidden costs.
✅ No single point of failure – Uses multi-factor authentication.
✅ Cold storage – Keys are never exposed to the internet.
✅ No traditional seed phrase, reducing the risk of a single backup loss.
❌ If you lose all authentication pieces, recovery is difficult.
Best Practice: Store security fragments in multiple secure locations.
✔ Best for: Crypto holders who prioritise security over ease of access.
❌ Not ideal for: Users who want a plug-and-play hardware wallet.
MetaMask – Best for Ethereum, Web3, and DeFi Users (Hot Wallet)
Pros
Cons
- Perfect for Web3 & DeFi – Connects to Uniswap, OpenSea, and dApps.
- Easy browser extension – Works on Chrome, Firefox, and Brave.
- Multi-wallet support – Manage different accounts in one place.
- No Bitcoin support – Ethereum and EVM-compatible chains only.
- Vulnerable to phishing scams – No built-in exchange security.
MetaMask is free to download and use, but users incur network fees when making transactions. Since MetaMask is a non-custodial wallet, it does not charge deposit, withdrawal, or maintenance fees. However, when swapping tokens within the wallet, MetaMask adds a service fee of 0.875% on top of the standard blockchain network fees.
Ethereum gas fees can be high, especially during network congestion, but MetaMask allows users to adjust gas fees manually to prioritise speed or cost-efficiency. Since it operates on multiple blockchains, fees vary depending on the network used (Ethereum, Binance Smart Chain, Polygon, etc.).
✅ Private key stored locally, giving full control to the user.
✅ Hardware wallet integration (Ledger/Trezor) for added security.
✅ Open-source code allows public security audits.
❌ Highly targeted for phishing scams – Fake MetaMask websites can steal credentials.
Best Practice: Always check browser extensions and avoid clicking unknown links.
MetaMask is best for users who engage with Ethereum-based applications, DeFi platforms, and NFTs. It’s ideal for:
✔ DeFi traders – Seamless connection to Uniswap, Aave, and other dApps.
✔ NFT collectors – Supports OpenSea, Rarible, and Ethereum-based NFTs.
✔ Multi-chain users – Works with Ethereum, Binance Smart Chain, and Polygon.
✔ Users who want full control – Non-custodial, meaning you control your private keys.
However, it’s not ideal for Bitcoin users, as it doesn’t support BTC natively. It also requires extra security measures to avoid phishing attacks and scam websites.
Trezor Model T – The Most Reliable Cold Wallet for Beginners
Pros
Cons
- Touchscreen interface – Easier than Ledger for setup.
- Open-source software – Regular security updates.
- Supports over 1,800 cryptocurrencies.
- No Bluetooth or mobile app – Requires USB connection.
- Not FCA-regulated.
Trezor Model T is a one-time purchase with no recurring fees. The wallet itself typically costs £180–£250, depending on the retailer. Since Trezor is a self-custody hardware wallet, it does not charge deposit, withdrawal, or maintenance fees.
However, users must pay network fees when sending crypto transactions, such as Bitcoin mining fees or Ethereum gas fees. These fees are determined by the blockchain network, not Trezor. The wallet allows users to customise transaction fees, choosing between low, standard, or high priority, depending on speed and cost preferences.
Trezor’s firmware updates are free, and there are no additional charges for security features or backups, making it a cost-effective choice for long-term crypto storage.
✅ Offline cold storage – No internet access, reducing hack risk.
✅ PIN-protected device – Brute force attempts are blocked.
✅ Passphrase feature adds an extra layer of security.
❌ No Secure Element (SE) chip, making it more vulnerable than Ledger.
Best Practice: Use the passphrase feature to protect against physical theft.
✔ Best for: Crypto holders who want a secure, easy-to-use cold wallet.
❌ Not ideal for: Users who trade frequently and need quick access.
Tangem Ring – A Revolutionary Wearable Crypto Wallet for Everyday Use
Pros
Cons
- Wearable & discreet – No one will know you’re carrying a crypto wallet.
- No batteries or charging – NFC-powered.
- Waterproof & durable.
- Limited coin support – Mostly Bitcoin & Ethereum.
- Not widely available in the UK yet.
Tangem Ring has a one-time purchase cost ranging from £70–£150, depending on the retailer. Since it is a self-custody hardware wallet, there are no deposit, withdrawal, or maintenance fees.
Users only pay network transaction fees when transferring crypto, which vary by blockchain (e.g., Bitcoin mining fees, Ethereum gas fees). Unlike some hardware wallets, Tangem does not require firmware updates or paid subscriptions for backups.
Tangem Ring offers a unique security model with NFC-based authentication, meaning it does not rely on traditional passwords or PINs.
✔ Tamper-resistant chip – Ensures the wallet cannot be physically compromised.
✔ No internet connection – Reduces hacking risks.
✔ No battery or charging needed – Eliminates power-based vulnerabilities.
❌ No passphrase or multi-sig support, making recovery solely dependent on backups.
❌ If lost, funds could be inaccessible unless a secondary wallet is set up.
Best Practice: Always set up multiple Tangem wallets for backup access in case the ring is lost or damaged.
Tangem Ring is best for users who prioritise mobility, convenience, and quick authentication.
✔ Everyday crypto users – Tap-to-pay style authentication makes transactions seamless.
✔ Frequent travelers – No need for USB connections or mobile apps.
✔ Those who dislike passwords – No PINs, seed phrases, or passcodes needed.
✔ Users who want an ultra-discreet wallet – Looks like a regular ring, reducing theft risk.
However, it’s not ideal for high-value crypto holders who need advanced recovery options like multi-signature security or encrypted backups.
Ledger Nano S Plus – Best Budget Cold Wallet with High Security
Pros
Cons
- Affordable compared to other hardware wallets.
- Supports over 5,500 assets – More than Trezor Model T.
- Regular firmware updates.
- No Bluetooth – Unlike Ledger Nano X.
- More technical setup.
The Ledger Nano S Plus has a one-time purchase cost of £70–£90, making it one of the most affordable hardware wallets. Since it is a self-custody wallet, there are no deposit, withdrawal, or maintenance fees.
Users only incur network transaction fees when sending crypto, such as Bitcoin mining fees or Ethereum gas fees. Ledger allows users to adjust transaction fees based on priority and network congestion.
Ledger’s firmware updates are free, and unlike the controversial Ledger Recover service, backups remain fully offline with no additional costs.
Ledger Nano S Plus is a high-security cold wallet designed for long-term crypto storage.
✔ Secure Element (SE) chip – Protects against hardware-level attacks.
✔ Offline private key storage – Ensures funds are never exposed online.
✔ PIN and passphrase support – Extra layer of security for high-value holdings.
❌ No Bluetooth connectivity, which can be limiting for mobile users.
❌ Security concerns over Ledger Recover – While optional, it raised privacy debates.
Best Practice: Manually record your 24-word recovery phrase and store it securely, as Ledger does not provide cloud backups.
Ledger Nano S Plus is best for users looking for an affordable, high-security cold wallet.
✔ Long-term investors – Ideal for storing Bitcoin, Ethereum, and altcoins securely.
✔ Security-conscious users – Protects against hacks, malware, and phishing.
✔ Multi-chain asset holders – Supports 5,500+ cryptocurrencies and NFTs.
✔ Users who prefer offline security – Private keys never touch the internet.
However, it’s not ideal for mobile-first users, as it lacks Bluetooth and requires a USB-C connection for transactions.
Hot vs. Cold Wallets: Which One Is Right for You?
Understanding Cold Wallets (Offline Storage & Long-Term Security)
Cold wallets store your private keys offline, making them the safest option for long-term storage. They are ideal for those who invest significant amounts and want to reduce the risk of online hacks, phishing attacks, and exchange failures.
- How Cold Wallets Work
- A hardware device or paper wallet holds your private keys without connecting to the internet.
- You only plug in the device when signing transactions.
Benefits and Drawbacks of Cold Wallets
Advantages |
Maximum security – No internet connection means fewer hacking risks. |
Best for large crypto holdings – Ideal for long-term investors. |
Immune to exchange hacks – No reliance on third-party custodians. |
Disadvantages |
Not ideal for frequent trading – Slower transaction process. |
Hardware wallets can be expensive – Prices start from £50+. |
Risk of losing the device – If not backed up, you lose access forever. |
Understanding Hot Wallets (Online Access & Convenience)
Hot wallets store private keys on internet-connected devices, making them ideal for day traders and active users who need fast access to funds.
- How Hot Wallets Work
- Software wallets or exchange wallets keep your funds accessible anytime.
- Commonly used for DeFi transactions, NFT purchases, and staking.
- How Hot Wallets Work
Additional Considerations for UK Crypto Investors
Advantages |
Easier to use – Quick access to crypto funds. |
Free to set up – No need to purchase a device. |
Best for frequent transactions & DeFi. |
Disadvantages |
Higher risk of hacks & phishing attacks. |
Some wallets rely on third parties (custodial risks). |
Loss of a private key means complete asset loss. |
How to Use a Crypto Wallet for Trading in the UK
Whether you’re buying Bitcoin or using DeFi applications, you need to know how to use your crypto wallet safely and effectively.
- Set Up Your Wallet – Download and install the wallet (e.g., MetaMask, Ledger Live).
- Add Funds – Transfer crypto from an exchange or buy directly.
- Choose a Trading Platform – Use FCA-regulated exchanges like eToro or Binance.
- Link Your Wallet – Connect your wallet to a trading platform or DeFi protocol.
- Pick a Trading Pair – Choose from BTC/GBP, ETH/USDT, etc.
- Execute the Trade – Buy, sell, or swap assets securely.
- Secure Your Assets – Move long-term holdings to a cold wallet if necessary.
- Stay Updated – Follow UK crypto regulations and security best practices.
Multi-Signature (Multi-Sig) Wallets & Why They Matter
Multi-signature wallets require two or more approvals to process transactions, making them ideal for:
- Businesses managing crypto assets.
- High-value investors who want extra security.
- Joint accounts requiring multiple signers.
How Multi-Sig Wallets Work
- Instead of a single private key, transactions require multiple approvals from different devices.
- Even if one device is hacked, an attacker can’t transfer funds without other signers.
Popular Multi-Sig Wallets:
- Gnosis Safe – Best for businesses and DAOs.
- Electrum Multi-Sig – Secure Bitcoin wallet.
- Casa Wallet – Designed for high-net-worth investors.
Multi-Signature (Multi-Sig) Wallets & Why They Matter
Crypto wallets aren’t foolproof, and issues can arise. Here’s how to fix common problems:
FAQs
The safest crypto wallet is a cold wallet like Trezor Model T or Ledger Nano S Plus. These keep your private keys offline, reducing the risk of hacking. For beginners who want FCA compliance, eToro Money Wallet is a safer option.
eToro Money Wallet and Coinbase Wallet allow you to deposit GBP directly via bank transfer or card. MetaMask and Ledger don’t support GBP deposits, so you’ll need an exchange first.
Coinbase Wallet is the easiest for newcomers, offering a user-friendly interface, multi-crypto support, and a secure non-custodial setup. If you want FCA compliance, go for eToro Money Wallet.
Most self-custody wallets aren’t regulated because they don’t hold your funds. However, custodial wallets linked to exchanges—like eToro Money Wallet and Coinbase Wallet—are FCA-registered.
Yes! MetaMask, Coinbase Wallet, and Ledger Nano S Plus support NFT storage. If you’re into Ethereum-based NFTs, MetaMask is the best option.
Beginners & Secure Trading
- FCA-Regulated & Secure
- Seamless Trading Integration
- Multi-Asset Support
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
