Crypto Mobile Wallets are apps that allow you to store, send, and receive your crypto directly from your Android phone. They are a fast and easy way to access your crypto, and you can carry it nearly everywhere with you!
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You can simply download and install these wallet apps on your phone from the Google Play store.
We look at how the different mobile wallets on offer stack up against the risks.
Note: If you are new to crypto wallets do head over to our Crypto Wallet Guide for everything you need to know, before choosing the right crypto wallet for you!
One of the biggest benefits of a mobile wallet is its ease and convenience. If you don’t have regular or private access to a computer then a Mobile wallet is probably the way to go.
Even so, we recommend you only keep a small amount of crypto in a mobile wallet.
Large amounts should be kept in a more secure wallet, such as a Hardware wallet, Desktop Wallet or failing that held in a Custodian wallet.
Key Security Factors for Mobile Wallets:
- Mobile Wallets are connected to the Internet whenever your phone is connected to the internet.
- This means your wallet and crypto are vulnerable when you are online. If you are not using your wallet, close it and log out. It would also be wise not to keep your crypto login details saved on your phone.
- Never use your mobile wallet or other crypto accounts from public Wi-Fi.
- As tempting as it may be to have a quick peek whilst you are in a cafe or on a train just don’t do it. Look around you and pretty much everyone will be looking at their phone. What you don’t know is if any of those people are able to hack your phone, steal your crypto and disappear. If you regularly access shared wifi at home or at work it may be wise to use a vpn when using a crypto mobile wallet for added protection.
- Mobile phones have a habit of getting lost or broken.
- If you lose or break your phone you will lose access to the Private Keys stored on it. Don’t lose your crypto too! Your crypto wallet can still be recovered, on another device, using your Seed phrase, so make sure you keep a copy of this phrase in a safe place (NOT on the PHONE!).
- If your phone is stolen or lost, an experienced hacker may be able to gain access to your crypto very quickly.
- Treat this like you have lost a credit or debit card, the quicker you act the better.
Let us look at some of the popular mobile crypto wallets on the market and see how they compare.
Android Mobile Wallet Comparison
There are a growing number of Android crypto wallets available on the market and those we have covered are just some of the most popular ones to date.
Keep in mind that not every wallet advertised in the Google Play store is verified. This means some people can create malicious wallet like apps in an attempt to steal your coins once you send them to your mobile wallet.
Beware of fakes! This article shows how careful you need to be!
That’s why it’s important to download only known apps and make sure that they are the official app version with, Google Play Protect enabled, rather than a clever copy!
If you do decide to opt for a Mobile Crypto wallet please remember the following advice:
- Always set up at least pin code protection for your wallet, if possible. If your wallet has added security features, use them and set them up at the start.
- Never store large amounts of Bitcoin on your mobile wallet.
- Write down the 12-24 word seed you get when you set up your wallet and keep in a safe place.
Do you have any experience using these Android Wallets?
Let us know how you found them!