8 Best Crypto Wallets For Canadians in 2024

1. Ledger Nano X or S

If you are into long-term cryptocurrency investing, this device is a MUST-have. The Ledger Nano X is Ledger’s top-of-the-line hardware wallet and the most reputable brand on the crypto scene. We think it is one of the best crypto wallets for Canadians looking for a secure solution. When you own crypto, what you actually own are private keys that give you access to the crypto. Anybody who knows the private key to a cryptocurrency wallet can access the crypto stored in it. Keeping your private keys safe is essential.

The Ledger Nano X stores your private keys on the device. When making a transaction using your Ledger Live account, you can connect the Ledger Nano X crypto wallet to your phone or computer using Bluetooth. It supports both Android and iOS. You’ll need to use the hardware wallet to confirm the transaction. Your private keys never leave the device. They are kept offline permanently.

The Ledger Nano X crypto wallet supports 5500+ cryptocurrencies and 50 of them can be managed within the Ledger Live app. If you have other cryptocurrencies you want to store on your Ledger Nano X wallet, you’ll need to connect them with accepted third-party wallets e.g. XRP Toolkit.

You are able to install 100 apps on the Ledger Nano X at one time, meaning you can store 100 cryptocurrencies in cold storage with one of these hardware wallets.

With Ledger, you can buy and sell crypto using their partner, Coinify and have your assets sent directly to your Ledger cryptocurrency wallet. You can also stake cryptocurrencies Algorand, Tezos, TRON, Cosmos, and Polkadot and earn rewards, passively.

The Ledger Nano X is simple to use and set up. By keeping your private keys offline, it is the most secure bitcoin wallet you can get. While it does not have a touchscreen, the buttons are intuitive once you understand how they work. These are the reasons why it is on our list of the best crypto wallets for Canadians.

2. Trezor Model T

The Trezor Model T is another hardware crypto wallet that is often considered one of the best digital wallets for Canadians but also the most expensive one. There is a reason behind it.

It is fully open-source, so anybody can read its code and see there’s nothing shady with the way it stores your private keys. This is why most of the people prefer Trevor over the rest crypto wallets and this is the major reason why it costs more than the others.

As with the Ledger crypto wallet, the Trezor stores your private keys on the device, so there is no danger of them being stolen in a hack. To use the Trezor, you must connect it to your Android phone or laptop with the included USB cable. Currently, Trezor does not provide support for iPhones. Trezor does not use Bluetooth. It makes it the safest hardware crypto wallet on the market as of today.

The Trezor Model T cryptocurrency wallet has a full-colour touchscreen display with an intuitive design. It supports more than 1,600 cryptocurrencies that can be managed either via Trezor Suite or by a supported third-party wallet. As long as your preferred coin is supported, you can store as many coins on your Trezor as you like, at the same time. Other crypto wallets support about 100 coins at their best.

The Trezor Suite is a desktop and web app that is simple and easy to use. Here, you can manage your crypto, buy and trade crypto, and take advantage of Trezor’s secure password manager to store all your online passwords in one place. 

The Trezor Model T is a little expensive and it does not directly support staking, but it is a secure cold wallet with thousands of supported cryptocurrencies and it has a beginner-friendly touchscreen. It is one of the best crypto wallets available for Canadians and we highly recommend Trezor Model T.

3. SafePal S1

SafePal the first crypto wallet to be backed by Binance. SafePal S1 is a 100% offline hardware crypto wallet. Unlike the Ledger Nano X, the SafePal S1 wallet doesn't use bluetooth, NFC, Wifi or USB connections, which makes it the most secure cryptocurrency wallet. 

The SafePal S1 has other advantages over the Ledger crypto wallets as well. The S1 digital wallet features a full-colour high-resolution screen and it’s the size of a credit card so you can carry it anywhere, easily.

Though the Ledger Nano hardware wallets are light as well, they do not have a full colour screen. While the Ledger crypto wallets allow you to manage 50 cryptocurrencies at a time, the SafePal S1 allows you to store unlimited cryptocurrencies. The cost of a SafePal wallet is also cheaper than the Ledger Nano X. 

Managing your crypto assets with SafePal is easy. You can download the app on Google Play or the App Store. The SafePal app allows you to manage your crypto assets and make transfers and trades. Even if you don’t have the SafePal S1 hardware wallet, you can still use the app as a software wallet. 

Unlike the Ledger Nano hardware wallets, you don’t need to physically press buttons to operate the SafePal S1. To use the S1 hardware wallet, simply use the app to set up your transfer or trade and then scan the QR code that appears on your hardware wallet. There is no bluetooth or risky connections needed to operate the S1 hardware wallet. The S1 is the easiest cold storage crypto wallet to use. 

With the SafePal app you can also buy, sell and trade crypto instantly. You can also access Binance Smart Chain, TRON, and Ethereum decentralized apps. SafePal is fully integrated with popular DApps such as PancakeSwap and Compound. If you’re interested in DeFi, SafePal is the best cold storage crypto wallet.

4. ZenGo Software Crypto Wallet

The ZenGo mobile wallet is a bitcoin wallet for Canadians that allows you to store your crypto safely. You can also buy, sell and trade crypto from almost anywhere in the world. It's probably #1 software crypto wallet in the world.

The ZenGo software wallet is more convenient than hardware wallets such as Ledger or Safepal, plus you do not need to worry about keeping your private keys safe. Instead, ZenGo uses biometrics to restore your wallet should you need to. When you set up a new wallet, ZenGo will scan your face and store an encrypted face map in their server, ready for when you need to restore your wallet. 

ZenGo keeps your crypto secure with its security model. In order for transactions to process, your device and ZenGo’s servers must communicate to sign the transaction. If one should fail, your crypto is still safe and accessible. 

ZenGo has a number of powerful features that make it more than just a crypto wallet. You can earn passive income on your crypto by lending and staking. Earn 8% APY when you lend stablecoins, 5% APY for lending bitcoin and 4% APY for Ethereum. When you choose to lend your crypto, you are loaning your crypto to Nexo, ZenGo’s partner and registered and licenced financial institution. 

ZenGo offers various payment methods including debit and credit cards, plus you can buy Terra cryptocurrencies for 0% processing fees. 

When using ZenGo to trade crypto, you can choose between three network speeds. Select economy, regular and fast depending on how quickly you need the transfer to process. For example, if you are willing to pay the maximum needed network fee to ensure the transaction processes right away, select fast. 

You can get $10 cashback in Bitcoin for purchases of $200 when you apply the code ZENX0B4G.

If you need help at any time, ZenGo has real agents on hand ready to help. 

5. Metamask Crypto Wallet

Metamask is a software wallet that can be accessed via a mobile app or browser extension in Canada. It supports all Ethereum-based cryptocurrencies (ERC-20 tokens). It means you can store cryptocurrencies on Avalanche, Binance Smart Chain, Polygon and many more networks, but not Bitcoin since that isn’t an ERC-20 token. Metamask also supports NFTs.

With Metamask you can buy, sell and swap cryptocurrencies and stake Ethereum or MATIC. You can also bridge tokens from one network to another. Perhaps you want to move USDT from Ethereum to Arbitrum or Binance - you can do that with Metamask. You can also, of course, send and receive crypto. If you want to keep assets separate from one another you can create multiple accounts and wallet addresses that can be accessed with the same recovery phrase or private key.

If you’re into Decentralized Finance (DeFi) then this wallet is the top choice for use with decentralized applications. For example, if you’d like to do some yield farming, staking, or trading of DeFi tokens then Metamask is a great wallet to use for this purpose. You simply connect your Metamask wallet to the application with one click and then you can transfer your crypto to the DeFi app.

While Metamask is a hot wallet it has a security feature that allows you to store your cryptocurrencies on a hardware wallet such as Ledger or Trezor instead. When you want to connect to a decentralized app, you can connect your hardware wallet to Metamask and complete the transaction. This process means you can safely store your cryptocurrencies in an offline wallet but also use DeFi apps as well.

It's best to have two crypto wallets, one hardware one (Ledger or Trezor ) and software one such as Metamask.

6. Ledger Nano S

The Ledger Nano S is Ledger’s flagship bitcoin wallet not only for Canadians but worldwide. It is a hardware crypto wallet that allows you to install three applications and store three cryptocurrencies. Like the more expensive Ledger Nano X, the Nano S supports 50 cryptocurrencies in Ledger Live, and 1800+ if you’re using a supported third-party wallet.

While the Nano S works exactly like the Nano X and keeps your private keys in cold storage, it is not as convenient. The Nano S does not connect to your phone via Bluetooth. Instead, you can purchase Ledger’s cable pack ($23) to connect it to your Android phone. Note, there is no cable included that supports iPhones. However, if you simply wish to connect the Nano S to your laptop, a USB cable is included in the box. For Mac users, you will have to purchase the cable pack which includes a USB-C cable or use an adapter to connect it.

The Ledger Nano S is a great solution for people looking for a hardware cryptocurrency wallet in Canada. While you can only store three cryptocurrencies on it at a time, this is perfectly fine for people who have a small portfolio. At almost half the price of the Nano X, the Nano S is great for beginners looking for the best security for their crypto.

7. Exodus Wallet

The Exodus crypto wallet is a software wallet that is great for beginners who live in Canada and all over the world. It is one of the best bitcoin wallets that you can download to your desktop or smartphone. The desktop app is compatible with Windows, Linux and Mac. The mobile app is compatible with iOS and Android.

Exodus has a built-in exchange where you can buy, sell, and trade crypto. Your private keys are stored locally on your computer and never shared with the Exodus servers. While this is far more secure than leaving your crypto on a crypto exchange, your private keys are still vulnerable to theft through viruses, malware, and phishing. Your private keys are only safe if your computer is safe.

The Exodus wallet encrypts your private keys and is password protected. However, it does not offer two-factor authentication directly. Instead, Exodus has partnered with Trezor so you can actively manage your crypto assets stored on your Trezor cold wallet. It also means if you want to be able to confirm transactions to and from your Exodus wallet separately on another device (like 2FA), you will need to get a Trezor hardware wallet.

While it is a good-looking, easy-to-use wallet for beginners, those with large crypto holdings should consider getting a Ledger or Trezor crypto wallet for increased security of their crypto.

8. BRD

BRD is another software crypto wallet that is available for Canadians. It is a great bitcoin wallet for anybody looking to control their private keys. BRD is free and can be downloaded from the App Store or Google Play. It supports 70+ of the most popular cryptocurrencies and it also allows you to stake Tezos to earn passive income.

BRD is a trusted blockchain wallet with more than eight million customers worldwide. Its code is open source, it supports 14 languages and it is used in over 140 countries.

When you hold the BRD token in your BRD cryptocurrency wallet, you can receive rewards. The more tokens you hold, the more rewards you get. Rewards include reduced transactions fees, phone support, and even a call-back from BRD’s CEO.

One of the convenient things about BRD is that you don’t need to set up a username and password. The app will generate your private keys, which you can write down and keep safe.

You can buy, sell and trade crypto within the app and it accepts Canadian dollars. Using the BRD blockchain wallet, you can safely store Bitcoin, Ethereum, Bitcoin Cash, HBAR, XRP, and all ERC-20 tokens.