How to create a free cryptocurrency wallet?
If you want to invest in cryptocurrency you often need your own wallet. With a wallet you can manage your cryptocurrency, like holding you crypto, but also withdrawing and depositing of crypto. Every cryptocurrency has its own wallet, if you send crypto to a wrong address/unsuitable wallet you may lose your crypto forever. Some brokers offer a built-in wallet for all crypto they offer. There are different types of wallets, the best known ones are:
Read more about different types of wallets here.
How to create an online wallet?
An online wallet is the least safe choice you can make, but it is the easiest. After all, the wallet can be accessed online by anyone with the correct password. To make it a little more secure, most wallet services also offer the enabling of two-factor authentication. We recommend you to always enable this. However, this does not mean that your wallet is 100% secure.
Online wallet overview
- MEXC: Over 1500 crypto wallets
- Binance: Over 1000 crypto wallets
- Bybit: Over 700 crypto wallets
- Bitvavo: Over 400 wallets
Guide how to create an online wallet
An online wallet is the least secure option available, but it is the easiest. The wallet is accessible online to anyone with the right password. To make it a bit more secure, most wallet services allow you to enable two-factor authentication, a withdrawal lock and device verification. We strongly recommend doing this. However, this does not mean your wallet is 100% safe. The easiest way to get started is through a reputable exchange like Bitvavo:
- Register an account at Bitvavo: https://account.bitvavo.com/create (opens in a new tab)
- After registration and KYC verification you get instant access to more than 440 cryptocurrency wallets
- Enable 2-factor authentication
- Click on the desired cryptocurrency
- Click on Deposit
- Transfer the cryptocurrency to the address shown under Deposit
At Bitvavo, your account is not only protected by a password, but also by 2-factor authentication, device ID and IP address verification. It is also good to know that Bitvavo provides wallet insurance of up to €100,000 if someone gains access to your wallet through no fault of your own (always check the terms and conditions beforehand). Bitvavo also holds both a MiCA licence and a DNB registration, meaning your funds are well protected. Deposits are free via bank transfer or Wero. New users receive €10 free with a first investment of €10, plus €10,000 in commission-free trading.
How to create a desktop wallet?
A desktop wallet is considerably safer than an online wallet, but it also depends on your own security practices. Make sure you always install the latest updates for your operating system and the desktop wallet itself. Another major advantage of a desktop wallet is that you manage your own private keys. This means you are 100% the owner of your cryptocurrency.
- Download and install the desktop wallet from: https://www.exodus.io/download/
- Exodus supports more than 50 blockchains and hundreds of different coins
- After installation, create an account
- Back up your wallet seed in a safe place (important, this is the only way to restore your wallet)
- Click on the desired coin and click on Receive
- Transfer the cryptocurrency to the address shown under Receive
How to get a hardware wallet?
The safest option is offline storage of your cryptocurrency, and you can do this with a hardware wallet. Unfortunately, there are costs involved. If you are getting somewhat serious about crypto trading or holding, we recommend storing your cryptocurrency in a hardware wallet. Prices start from around €49 for an entry-level model like the Trezor Safe 3, up to around €150 for a more advanced model like the Ledger Nano X. The most popular hardware wallet brands in 2026 are:
- Ledger (Nano X, Flex or Stax): Support for thousands of cryptocurrencies, connectivity via USB and Bluetooth
- Trezor (Safe 3 or Safe 7): Open-source firmware for maximum transparency
Always buy a hardware wallet directly from the manufacturer’s official website. There have been cases where scammers bought wallets, noted down the seed phrase and resold the wallet via platforms like eBay.
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