What are the top 5 hot wallets?
A crypto wallet is used to secure and store your public and private keys. Wallets simplify interacting with blockchain networks by giving users an easy way to send, receive, trade, and manage digital assets. Online wallets, often called hot wallets, store private keys in software on a device connected to the internet, such as a mobile phone or a web browser.
Hot wallets are popular because they are easy to set up and convenient to use. They are often the first wallet someone uses when exploring crypto. While they are not as secure as offline hardware wallets, they strike a balance between usability and security for everyday activity. You can read more about crypto wallets and wallet types in our overview here.
- •Custody: Holding or guarding something. In the context of blockchains this is the act of holding and securing assets. For example, your bank custodies your assets on your behalf.
- •Cryptography: A set of mathematical techniques used to secure information and prove things about information.
- •Hashing: A process that takes any input (a sentence, a file, a list of transactions) and produces a fixed-length output called a hash. Even tiny changes in the input produce completely different hashes, but the same input always produces the same hash.
- •Public Key: The publicly accessible address associated with a blockchain account. Someone can send assets to you using this key.
- •Private Key: This is like your password for your account. This is how you take actions involving your account. Without a private key you can't take any actions for an account.
- •Transaction: A transfer of goods, services or assets between two parties. With respect to blockchains a transaction is the action you take to change the current state of your wallet. This might be reducing your balance by sending money or exchanging one asset for another by trading.
- •Seed Phrase: A list of 12 or 24 words that can be used to access your wallet. This is a human readable format of your private key.
Below are five of the most popular and widely used online crypto wallets today.
Meridian
Meridian was first released in June 2025 and supports the Solana blockchain. It serves as both a wallet and intelligent investing advisor. According to the Meridian agent:
Meridian is a proprietary market intelligence and trading assistant designed to help you navigate the Solana blockchain with confidence.
Think of me as a bridge between deep research and decisive action. I provide high-signal analysis—identifying market trends, tracking asset developments, and uncovering risks—and then offer the integrated tools to execute on those insights immediately.
Whether you're exploring new sectors or managing a portfolio, my mission is to provide the clarity you need to move from curiosity to conviction.
The wallet makes a strong emphasis on investment rather than trading. Making use of modern financial rails to give users access to a broad set of assets. Meridian provides tools like custom price alerts, scheduled actions like dollar cost averaging, and personalized portfolio insights. It blends powerful financial tools in an approachable interface.
Phantom
Phantom was first released in January 2021 and initially supported only the Solana blockchain. It quickly became known for its clean design, fast performance, and strong security features, making it a common recommendation for crypto beginners. Phantom made actions like sending tokens, connecting to apps, and managing NFTs feel simple and intuitive.
Although Phantom started as a Solana-only wallet, it has since expanded to support Ethereum, Monad, and several other blockchains. Despite being a relatively late entrant compared to early wallets like MetaMask, Phantom grew rapidly alongside the rise of the Solana ecosystem. Its success is often attributed to its strong focus on user experience and its ability to evolve as users’ needs changed.
MetaMask
MetaMask is one of the oldest and most widely used online wallets in crypto. It launched in 2016 as an Ethereum-only browser extension and quickly became the default wallet for interacting with Ethereum-based applications. For many users, MetaMask was their first exposure to DeFi, NFTs, and smart contracts.
Over time, MetaMask expanded beyond Ethereum to support multiple EVM-compatible blockchains such as Polygon, Arbitrum, and Optimism. Its growth mirrors the rise of Ethereum itself and the decentralized applications built on top of it. While MetaMask is sometimes criticized for its cluttered interface, its deep ecosystem support and early-mover advantage have kept it at the center of crypto adoption.
Coinbase Wallet
Coinbase Wallet is a non-custodial wallet developed by Coinbase, one of the largest crypto companies in the world. Unlike the main Coinbase exchange app, Coinbase Wallet gives users full control over their private keys while still benefiting from Coinbase’s polished design and brand trust.
Coinbase Wallet has grown by serving as a bridge between traditional finance users and onchain applications. It supports many blockchains and integrates smoothly with decentralized apps, NFTs, and DeFi protocols. Its growth is closely linked to Coinbase’s large existing user base, many of whom transition from using the exchange to managing assets themselves through Coinbase Wallet.
Rabby
Rabby is a browser-based wallet designed primarily for advanced users interacting with DeFi across multiple EVM-compatible chains. It was created by the team behind DeBank and focuses heavily on safety, transaction transparency, and multi-chain support.
Rabby automatically detects the correct network for a transaction and clearly simulates what will happen before a user signs. This has made it popular among power users who want more visibility and protection when interacting with complex smart contracts. Its growth reflects the increasing sophistication of crypto users who demand better tooling, clearer risk signals, and fewer costly mistakes.
Conclusion
Online wallets are the most common way people interact with blockchain networks today. Each of these wallets grew by serving a slightly different audience, from beginners looking for simplicity to advanced users navigating complex DeFi ecosystems. Understanding their strengths can help users choose the wallet that best fits how they use crypto.