Self-hosted wallet showdown: Which is the best for your encryption assets?

Still struggling to choose which wallet to use? From Mt.Gox to FTX, every exchange collapse warns us of the same truth - assets must be in our own hands.

The core logic of self-custody wallets is simple: if you hold the private key, you are the bank. However, there are many options available, so today let's discuss the differences between five mainstream products on the market.

The Ultimate Tool for Multi-Chain Players

NOW Wallet supports 70+ public chains and 1500+ tokens, covering almost everything from BTC to DOGE to XMR. The most amazing part is that it integrates ChangeNOW's instant exchange, 60 fiat currencies for deposits and withdrawals, WalletConnect for DeFi connections, and allows for custom Token additions. Pro members also enjoy 0.2% cashback on each transaction.

On-chain data shows that the user base of multi-chain Wallets is rapidly growing, especially among institutional investors holding various assets, who have a huge demand for such “one-stop” solutions.

King of the Ecosystem

MetaMask boasts 30 million monthly active users, almost synonymous with self-custody Wallets. Its portfolio dashboard allows you to track the price fluctuations and total value of all assets on EVM chains in real-time, providing data support for your decision-making.

The drawbacks are also obvious - it only supports Ethereum and EVM compatible chains, which directly excludes users of Solana, Cardano and similar.

The Wallet Dream of Major Exchanges

Coinbase Wallet is backed by a leading exchange in the United States and has recently added Apple Pay as a payment option, making buying cryptocurrencies a one-click operation. The absence of USDC fees is also somewhat appealing. However, the downside is that small transfers will incur fees, and the review policies are relatively strict.

Asset Capacity Monster

Trust Wallet supports over 100 chains and more than 1 million assets, which means no matter how crazy your portfolio is, it can hold it all. But because there are so many assets, beginners are easily prone to falling into the trap of fake coins. What's even more concerning is that there is no two-factor authentication, which is somewhat unacceptable in 2024.

DeFi Dedicated Machine

Zerion is the secret weapon for heavy DeFi users. It supports over 60 DeFi protocols, allowing users to earn yields not only through staking but also by profiting from lending. Its liquid farming and lending rate generation engine is a神器 for those looking to engage in yield farming.

The only regret is that the number of supported public chains is relatively limited.

How to choose?

• Too many and varied assets? → NOW Wallet / Trust Wallet
• Just play the Ethereum ecosystem? → MetaMask (no-brainer choice)
• Want to buy coins conveniently? → Coinbase Wallet
• Want to farm for mining? → Zerion

Core Reminder: No matter which one you choose, remember three points - Backup your mnemonic phrase, enable advanced security, and regularly audit address permissions. The freedom of self-custody comes with the responsibility of bearing the risks yourself.