Ledger Nano S Plus Wallet
- Buy, swap & stake range of crypto & NFTs
- Supports 5,500+ tokens
- Highly secure hardware wallet
5 best crypto wallets in Canada in 2026
Our top picks for beginners, experts, bitcoin enthusiasts and more.
We compared more than 50 crypto wallets to find the best crypto wallet in Canada, looking at features like security, usability, cost and supported coins. Bear in mind that it’s a good idea to pair any software wallet with a hardware wallet for added security. Having more than one wallet also lets you spread out your assets in case one of your wallets gets compromised.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
The best crypto wallets in Canada in 2026
- Best crypto open-sourced wallet: Kraken Wallet
- Best crypto wallet for combined online and cold storage: Bitbuy Wallet
- Best exchange wallet: Base App (formerly Coinbase Wallet)
- Overall best crypto wallet in Canada: Ledger Nano S Plus Wallet
- Best wallet for experienced users: Trezor Model T Wallet
What is the best bitcoin wallet in Canada?
Our overall top pick for the best hardware wallet for bitcoin is the Ledger Nano S Plus Wallet. That said all of our best crypto wallet selections can safely store bitcoin. Check out our full guide to the best bitcoin wallets in Canada for more options and details.
What is the best crypto wallet for beginners?
The best crypto wallet for beginners will be one with a user-friendly interface and resources to help you trade and store you crypto efficiently. Of the wallets we examined, Kraken, and Ledger are some of the best options for beginners.
What is the most trusted crypto wallet?
The most trusted crypto software wallets include Kraken, Bitbuy and Coinbase. The most trusted crypto hardware wallets include Ledger and Trezor. We chose these wallets based on our proprietary methodology by carefully comparing wallet features and security measures.
In general, hardware wallets will be more secure than mobile and web-based wallets. For example, the majority of Ledger wallets, including the Ledger Nano S Plus, have a security rating of CC EAL6+.
Compare crypto wallets in Canada
| Wallet | Wallet type | Supported assets | Price |
|---|---|---|---|
| Kraken Wallet | Mobile wallet | 2,000 | $0 |
| Paybis Wallet | Mobile wallet Web browser wallet | 80 | $0 |
| Bitbuy Wallet | Mobile wallet | 60 | $0 |
| Coinbase Wallet | Mobile wallet Desktop wallet Web browser wallet | 1,000,000 | $0 |
| Ledger Nano S Plus | Hardware wallet | 15,000 | $55 |
| Ledger Nano X | Hardware wallet | 5,500 | $149 |
| Ledger Stax | Hardware wallet | 5,500 | $399 |
| Ledger Flex | Hardware wallet | 5,500 | $249 |
| Trezor Model T | Hardware wallet | 1,000 | $129 |
| Trezor Model One Wallet | Hardware wallet | 9,000 | $59 |
| Best Wallet | Mobile wallet | 1,000 | $0 |
| Zengo | Mobile wallet | 380 | $0 |
| Exodus | Mobile wallet Desktop wallet Web3 wallet | 1,000 | Free download |
| Atomic Wallet | Mobile wallet Desktop wallet | 1,350 | Free download |
| Trust Wallet | Mobile wallet Web browser wallet | 10,000,000 | Free download |
| COLDCARD Mk4 | Hardware wallet | 1 | $177.94 |
| Coinomi | Mobile wallet Desktop wallet | 1,770 | Free download |
| MetaMask | Mobile wallet Web browser wallet | 500,000 | Free download |
| NGRAVE ZERO | Hardware wallet | 2,700 | $598 |
| Tangem | Hardware wallet | 5,000 | $54.90 |
| SafePal S1 Wallet | Hardware wallet | 30,000 | $49.99 |
| Ctrl Wallet (formerly XDEFI) | Web browser wallet | 10,000 | Free download |
What is a crypto wallet and how does it work?
A cryptocurrency wallet is a software program that allows you to store, send and receive digital currencies and check your crypto balance. Crypto exists digitally, not physically, so your wallet doesn’t actually hold any coins. Instead, it stores the keys for your crypto transactions on the blockchain. There are two types of keys:
- Public key. This is a long string of letters and numbers that form your wallet’s address. It’s used to send assets to your wallet like a bank account number is used to transfer money to your bank account.
- Private key. This lets you access your wallet’s assets like a debit card PIN lets you make bank account purchases. Anyone who knows your private key can control your wallet, so you should keep it 100% secret and secure. Non-custodial wallets give you sole ownership of your private key and are much safer than custodial wallets, where a third party like an exchange manages your private keys.
Digital currencies have different types of address. Usually, you can only send coins between wallets with similar address types (for example, you can send bitcoin to a bitcoin wallet address or Ethereum to an Ethereum wallet address).
What do crypto wallets have to do with blockchains?
Every crypto transaction is recorded and publicly shared across a network of linked computers known as a blockchain. Most cryptocurrencies use a blockchain—one that was developed for that crypto or for another crypto—to record transactions, but not all do.
Your wallet address keeps a record of all your transactions and tracks your crypto balance. By following the chain all the way to the present day, a wallet can figure out how many coins you have.
For example, if Alice sends Bob 0.001 BTC, the transaction is verified and added to the blockchain. which then shows that Alice’s wallet has 0.001 less BTC and Bob’s wallet has 0.001 more BTC.
Anyone can view the public keys of any wallet along with the amounts sent and received to each wallet. Watch real bitcoin transactions happening in real-time.
Types of cryptocurrency wallets
Let’s take a closer look at the different types of crypto wallets you can use. Each has its own advantages and disadvantages in terms of security, ease of use, convenience and a range of other factors.
Hardware wallets
- Generally considered to be the most secure option, offline storage, easy to set up and use.
- Most expensive option and inconvenient if you want quick access to your funds.
A hardware wallet is a physical device that can connect to your computer like a USB drive. It stores private keys, which are used to manage your crypto. Because it works separately from your computer or phone, hardware wallets are offline (“cold storage”) and considered much more secure.
Popular hardware wallet brands include Trezor and Ledger.
The downside is that you need access to the physical device any time you want to make a transaction, which makes it best for long-term storage or home use. But it’s not ideal for on-the-go traders who want 24/7 access to their crypto.
Hardware wallets also cost money, typically ranging from CAD $50–$300, but the security and peace of mind is worthwhile.
Software wallets
- Easy to use, good level of security, plenty of choice, free to download.
- Risk of computer viruses and malware. Can’t manage your crypto offline.
Software wallets are (typically free) apps, browser extensions or websites that store your private keys. Many now integrate with Web3 software, which means you can use your crypto with applications like games, finance, art, collectibles, NFTs and more.
Software wallets are convenient for beginners who don’t have enough funds to warrant buying a hardware wallet or who use Web3 apps regularly. You need a phone, laptop or tablet to access your wallet. But it can be installed across multiple devices, making it more accessible than a hardware wallet.
The downside though is that software wallets are always connected to the internet (“hot wallets”) and are at greater risk of hacks, phishing attempts or malware.
Exchange wallets
- Convenient for frequent trading. Log in on any device to easily access your funds.
- You don’t own the private keys, and exchanges are targets for hacking and phishing scams.
Exchange wallets let you hold crypto on the platform or exchange where you bought it. The platform manages private keys on your behalf, reducing the complexity of properly storing private keys.
You can easily access your crypto with just your account name and password. If your exchange has a website, you can access it anywhere you have the internet.
This makes it an extremely convenient way of storing crypto if you need regular access to it round the clock, which is why many traders typically keep their crypto on exchanges, despite the risks.
Storing your crypto on an exchange is considered the most risky because exchanges are frequently the targets of attempted hacks, theft and phishing scams and exchanges are at risk of mismanagement. If you use an exchange wallet, enable two-factor authentication and other enhanced security measures.
What’s the difference between hot wallets and cold wallets?
Cold wallets store your assets offline and are less susceptible to hacks than hot wallets, which remain connected to the internet, but are more accessible and easier to use.
As a general rule of thumb, you should try to move your holdings to a cold wallet and only use a hot wallet when actively trading or transacting your crypto. Hot wallets can be used in conjunction with a cold wallet like our pick for the Best Bitcoin wallet, the COLDCARD Mk4.
How to choose the best crypto wallet
Now that you know all about the different types of wallets available, it’s time to find the best crypto wallet for you. To do that, compare wallets based on several key factors, including:
- Wallet type. This comes down to personal preference. If security is your number one priority, look at hardware wallets. But if your main goal is being able to quickly and conveniently access your coins, a mobile or web wallet might be your preferred choice.
- Ease of use. Sending, receiving and storing crypto can be complicated and confusing, particularly for beginners. Any wallet you choose should suit your tech knowledge and level of crypto experience. So, while crypto novices might focus on simplicity, experienced holders might look for advanced features like an in-wallet exchange and multi-signature transactions.
- Security. Does the wallet have security features like 2-factor authentication and multi-signature functionality? Will your private key be stored online or offline? Has the wallet ever suffered any security breaches?
- Other features. Check if the wallet includes any other features, such as the ability to exchange between currencies within your wallet or easy access to live fiat exchange rates and other market information.
- Supported cryptocurrencies. Are you looking for a wallet that stores just one crypto, like bitcoin, or are you in the market for a multi-currency wallet? Make sure the wallet you choose is compatible with the cryptos you need to store, and remember that some coins and tokens can only be held in an official wallet.
- The team behind the wallet. What can you find out about the people behind the wallet? How long have they been in business? What qualifications do they have? Are they continually upgrading and improving the wallet?
- Cost. While most software crypto wallets are free, you’ll have to be willing to part with some cash for a hardware wallet. Consider the upfront price and shipping costs when making your decision. Some wallets charge a fee for every transaction you make, so check the fine print.
- Reputation. What level of community trust does the wallet have? Check out a range of independent online reviews to gauge how other users rate the wallet and if they’d recommend it.
Ask the experts: What are the most important features in a crypto wallet besides security?
Expert insight
"A wallet should have an intuitive and easy-to-use interface, making it accessible to both beginners and experienced users. The ability to store and manage a variety of cryptocurrencies is crucial, as the crypto market consists of numerous digital assets. A good wallet should provide a reliable backup and recovery system to protect against data loss or theft of the wallet’s private keys. Access to transaction history and reporting features is essential for tracking your cryptocurrency holdings and activities. "
Expert insight
"Interoperability with web3-enabled sites is probably the most important feature after security for crypto wallets today. WalletConnect makes it possible to use a wide range of wallets to interact with web3 sites. Cross-chain compatibility and the ability to do swaps inside the wallet can also make life a lot easier. "
Expert insight
"The wallet should be easy to use and navigate. Users should be able to easily send, receive, and store their cryptocurrencies. The wallet should support the cryptocurrencies that users want to use. Multi-signature wallets require multiple signatures to authorize transactions. This makes them more secure than single-signature wallets.Cold storage wallets allow users to store their cryptocurrencies offline. This is the most secure way to store cryptocurrencies, as it protects them from hackers. Some crypto wallets offer additional features, such as staking, lending, and decentralized exchange (DEX) integration. "
How to use a crypto wallet
You’ve zeroed in on the best crypto wallet and completed the setup process. Now it’s time to learn how to use it. Here are the step-by-step instructions for what you’ll need to do.
How to send crypto from your wallet
To send funds from your wallet, you’ll need the public key to your recipient’s wallet. This could be (1) a long string of letters and numbers, (2) a smartphone wallet QR code or (3) a clickable web link. Once you have this:
- Log in to your wallet.
- Navigate to Send.
- Enter the recipient’s wallet address. You can generally only send and receive like coins (i.e. bitcoin to bitcoin or Ethereum to Ethereum).
- Specify the transfer amount (and possibly the currency).
- Make sure you have enough in your wallet to cover any transaction fees that apply.
- Review the transaction details.
- Select Send.
The exact process varies depending on the wallet you choose. Hardware wallet users typically need to connect their wallet device, enter a PIN or password and manually verify the transaction on the device itself.
How to receive crypto in your wallet
Receiving crypto is even easier than sending it. However, wallets vary greatly in the way this is done. Some provide you with a fixed public address, others give you a new address for every transaction and still others use a combination of the two.
- Log in to your wallet.
- Navigate to Receive.
- Copy the public wallet address provided.
- Send your address to the person who’s sending you a payment.
- Wait for the funds to arrive in your wallet.
How to hold assets in your wallet
If you want to hold onto your crypto, there’s usually not much you need to do once the funds have arrived in your wallet besides maintaining a high level of security at all times.
Log in to your wallet whenever you want to check your balances. You may be able to earn interest on your coins by “staking” your holdings.
What are the risks of using a crypto wallet?
When you use a non-custodial crypto wallet, you reduce the risk of a third-party custodian like a crypto exchange going under and taking your funds with it.
However, software wallets are always connected to the internet and are easier to hack than hardware wallets. If a software wallet runs on closed-source code, you must trust the wallet creator not to extract your private keys and gain access to your digital assets.
Hardware wallets remain disconnected from the internet when not in use. Some never have to be connected to the internet. But if your hardware wallet has native software—like a Ledger or Trezor wallet—there’s a risk that your private keys can be extracted through an underlying software issue.
How to keep your crypto wallet safe
Wallet security is a crucial consideration for any crypto owner, so keep these tips in mind:
- Research before you choose. Don’t assume the first crypto wallet is the best crypto wallet out there. Thoroughly research the security features and development team behind a range of wallets before making your final decision.
- Enable 2-factor authentication. This simple security feature is simple to use and provides an extra layer of protection for your wallet.
- Pick your password carefully. Don’t be lazy when choosing a password. Make sure all usernames, PINs and passwords related to your crypto wallet are as strong as possible.
- Consider a multi-signature wallet. Multi-signature wallets require more than one private key to authorize a transaction, so another user/users will need to sign each transaction before it can be sent. It’ll take a little longer to send funds, but the extra peace of mind may well be worth the hassle.
- Update your antivirus protection. Make sure your PC, laptop, smartphone or tablet has the latest antivirus and anti-malware software. Set up a secure firewall on your computer, and never install software from companies you don’t trust.
- Update your wallet software. Take care to update your wallet software regularly so that you always have the latest security upgrades and protections installed.
- Make a backup. Ensure that you have a wallet backup stored in a safe place, so you can recover your crypto if something goes wrong, like if you lose your smartphone.
- Check the address. When sending or receiving funds, make sure you’re using the correct wallet address. If using an online wallet, make sure it’s secure (i.e. its URL starts with “https://”).
- Don’t use public Wi-Fi. Never access your wallet over a public Wi-Fi network.
- Split your holdings. Consider splitting your crypto coins up between online and offline storage. You can keep a small portion of your funds in online storage for quick and convenient access and store the bulk of your holdings offline for extra security.
- Private key protection. Remember—you can’t access your coins without your private key, so don’t disclose it to anyone. Check if the wallet assigns ownership to you or a third party like an exchange.
Expert insight
"The method of risk reduction will be to ensure good security practices by the users of the wallets. This will include using wallets where they have the multi-signature feature, having two-factor authentication, and backing up wallet keys, or recovery phrases to hard, offline data.
Never store the private keys in cloud storage facilities or online, as the hackers will be able to access those easily. The user should also be cautious of phishing and should only get wallets that are reputable as sources. It is also recommended that all software be routinely updated and that the user use strong and unique passwords to add to the layers of security."
Are Canadian investors interested in cryptocurrency?
According to our most recent Finder: Consumer Sentiment Survey, just over one in five (21%) Canadians see cryptocurrencies like bitcoin and Ethereum as appealing investment choices in 2025, while crypto meme coins (4%) and crypto-themed ETFs (6%) are less popular choices.
Just under one in five Canadians indicated that they would invest in crypto over the next two years, ahead of real estate (11%) and bonds (10%), and behind stocks (33%) and high-interest-savings accounts (28%).
Bottom line
There’s no such thing as a one-size-fits-all “best crypto wallet.” The right wallet for you will match your needs. The key point to remember is to do your research and compare a range of wallets first. Start with our range of crypto wallet reviews to get an idea of what’s available.
FAQs about the best crypto wallet in Canada
Read our crypto wallet reviews
Sources
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
More resources on Finder
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