DeFi stands for "Decentralized Finance" and refers to the ability to access financial services using cryptocurrencies—without relying on a centralized party like a bank. The DeFi sector enables users to lend coins, earn interest, take out loans, receive staking rewards, and more through smart contracts. All you need is a DeFi wallet and cryptocurrencies. That makes decentralized wallets a core component of the crypto ecosystem. This article reviews the best DeFi wallets and how they work.
Our DeFi Wallet Comparison & Experience
We tested the leading DeFi wallets and compared them based on security, fees, features, and compatibility with various DeFi platforms. As the table below shows, Best Wallet ranked highest among software wallets, while Ledger Stax received a perfect rating among hardware wallets.
<figure class="block-table"><table><tr><th>Wallet</th><th>Type</th><th>Security</th><th>Features</th><th>Supported Coins</th><th>Fees</th><th>Overall Rating</th></tr><tr><td>Best Wallet</td><td>Mobile & Desktop</td><td>⭐⭐⭐⭐⭐</td><td>Multi-DEX, Yield Farming, Staking, NFT support, Cross-chain swaps, DAO</td><td>300+</td><td>Low</td><td>⭐⭐⭐⭐⭐</td></tr><tr><td>Ledger Stax</td><td>Hardware</td><td>⭐⭐⭐⭐⭐</td><td>Staking, DeFi via Ledger Live, NFT support, Multi-chain</td><td>5,500+</td><td>Medium</td><td>⭐⭐⭐⭐⭐</td></tr><tr><td>Cypherock X1</td><td>Hardware</td><td>⭐⭐⭐⭐⭐</td><td>DeFi via partner apps, staking, multi-chain</td><td>1,800+</td><td>High</td><td>⭐⭐⭐⭐</td></tr><tr><td>MetaMask</td><td>Browser & Mobile</td><td>⭐⭐⭐</td><td>Full EVM support, token swaps, dApp integration, gas optimization</td><td>EVM tokens</td><td>Low</td><td>⭐⭐⭐⭐</td></tr><tr><td>Trust Wallet</td><td>Mobile App</td><td>⭐⭐⭐⭐</td><td>DEX, staking, dApp browser, Binance ecosystem</td><td>1M+</td><td>Low</td><td>⭐⭐⭐⭐</td></tr><tr><td>ZenGo</td><td>Mobile App</td><td>⭐⭐⭐⭐</td><td>Multi-DEX, staking, lending, keyless tech, NFT gallery</td><td>70+</td><td>Low</td><td>⭐⭐⭐</td></tr></table></figure>
Which Is the Best DeFi Wallet? 6 Wallets Reviewed
Out of the 6 wallets we tested, two earned a perfect 5-star rating. Security was the top priority, followed by fees, features, and usability.
1. Best Wallet
Among software wallets, Best Wallet stood out with top-tier security and unique features, such as an "Upcoming Tokens" section highlighting promising new projects. Its intuitive design makes it beginner-friendly while still offering advanced DeFi access.
Pros:
- Highest level of security among software wallets
- Integrated DEXs for cost-effective token swaps
- Supports staking protocols like Rocket Pool and Lido
- Available as app and browser extension
- Multi-chain support, including planned Solana integration
- Free to download and use
2. Ledger Stax
Among hardware wallets, Ledger Stax comes out on top. Ledger is a well-established brand with support for over 5,000 tokens. Ledger Live grants access to various DeFi apps, including staking and lending.
Pros:
- Latest 2025 model, meets top security standards
- Broad token and blockchain support
- Offline storage of private keys for maximum protection
- Clear transaction previews, no technical expertise required
Cons:
- Physical device can be lost or damaged
- Risk of buying counterfeit products from third parties
- Relatively expensive
3. Cypherock X1
This open-source hardware wallet also performed well. While older than Ledger Stax, it meets high security standards and lets users integrate up to four existing wallets.
Pros:
- Can protect up to four wallets in one device
- Maximum security through offline storage
- Access to DeFi apps via partners
Cons:
- Physical device risks (damage, loss)
- High upfront cost
- Swap fees may be higher than in-app options
4. MetaMask
MetaMask is the best-known wallet in the Ethereum ecosystem. Ethereum is by far the leading blockchain in the DeFi sector, meaning that the MetaMask DeFi wallet app also enjoys a broad user base. MetaMask is available both as a browser extension and as an app for smartphones and supports the direct use of various dApps.
Cryptocurrencies can also be bridged directly in the app and thus transferred to other blockchains. However, MetaMask leaves a lot to be desired when it comes to signing transactions, as a certain basic understanding is required to understand exactly what is being signed. In principle, every transaction should be checked carefully before it is signed, which can be easier with hardware wallets thanks to the simplified representation.
5. Trust Wallet
The Trust Wallet enjoys a high reputation as it was developed by Binance. Binance is the largest crypto exchange in the world and is known for its high security standards, among other things. As the exchange itself has millions of users, the Trust Wallet DeFi app also has a broad user base. Integration into the Binance ecosystem enables extensive access to DeFi applications. Millions of tokens from over 100 blockchains are supported, according to the company, so the choice here is probably the largest.
6. ZenGo
Just like the Best Wallet, ZenGo is a DeFi wallet app. This means that no physical device is purchased. The app is free to download, so there are no acquisition costs. However, the fees for token swaps can be slightly higher than for comparable applications. Access to simple DeFi applications such as staking or token swaps is possible directly in the app. Thanks to multi-chain support, cryptocurrencies and NFTs from different blockchains can be traded, stored and managed. Customer support is also available 24/7 directly via the app.
Creating a DeFi Wallet for Beginners – Best Wallet Guide
What initially sounds very technical and complicated becomes very simple and self-explanatory when you start using it. With the following step-by-step instructions using the example of the Best Wallet, which was voted the best DeFi wallet app, setup is completed in just a few minutes. While hardware wallets are associated with acquisition costs, delivery times and subsequent additional app downloads, setting up the Best Wallet is straightforward and users can get started immediately. Thanks to the user-friendly interface and intuitive structure, the technical aspect fades into the background. With 4 simple steps, even beginners can get started immediately and gain access to a wide range of DeFi platforms.
1. Download the app
The Best Wallet app is available as a free download for Android and iOS. The download can be started directly on the website, whereby a window with a QR code opens after clicking on the download button. Scanning this code leads directly to the app download. Alternatively, the Best Wallet is also available directly from the Apple App Store or the Google Play Store.
2. Initial start and seed phrase
As the Best Wallet is completely anonymous, you only need to enter an e-mail address when you open the app for the first time. You can then start directly. The seed phrase can only be viewed by clicking on “Settings -> Manage Wallets -> Show Seed Phrase”. The seed phrase is only needed to restore the wallet if you install it on another device. The seed phrase should never be passed on to third parties, as it enables access to the coins in the DeFi wallet.
3. Security functions
The Best Wallet is equipped with numerous security functions. In addition to a pin code, biometric facial recognition can be activated, which is recommended. It is also recommended to activate the integrated 2-factor authentication.
4. Add networks and tokens
An overview of the available balance is displayed directly on the app's start screen and the most common coins such as Bitcoin, Ethereum or BNB are already integrated. To add further tokens or networks, simply click on the “Manage Tokens” button. The tokens can be added via the name search or by entering the respective contract address. The supported blockchains are already activated by default. Work is already underway to support other networks such as Solana.
What Is a DeFi Wallet?
A DeFi wallet is a digital wallet where users manage their cryptocurrencies independently. Unlike custodial wallets managed by exchanges, DeFi wallets give full control to the user.
Coins should always be moved off exchanges after purchase to avoid risks such as hacking or insolvency. DeFi wallets offer not only safer storage but also direct access to DeFi platforms for staking, lending, and more.
How Does a DeFi Wallet Work?
DeFi wallets operate on self-custody. Users receive a seed phrase upon setup, which grants access to their private key for signing transactions. The public key is used for receiving funds.
Interacting with DeFi protocols is seamless—users can swap tokens, earn staking rewards, lend assets, and vote in DAOs, all directly on the blockchain.
DeFi Wallet Trackers – Portfolio & Tax Tools
Trackers like DeBank, Zapper.fi, and Blockpit help users monitor their DeFi wallets across multiple blockchains. They provide real-time portfolio tracking, performance insights, and tax reporting tools—especially useful for German users.
Are DeFi Wallets Safe?
Security is essential. While hardware wallets offer the highest security, a carefully managed software wallet is also sufficient. The key is to use trusted platforms, never share your seed phrase, and verify transactions.
Conclusion – Our DeFi Wallet Test 2025
The crypto market is expanding rapidly, and so is the variety of DeFi wallets. In our test, most wallets scored high on security, though there were notable differences in fees and supported tokens.
Exploring DeFi wallets is worthwhile—not just for storage, but to unlock passive income through staking, lending, and more. DeFi could soon reshape or even replace traditional finance.
FAQ
What is a DeFi Wallet?
A DeFi wallet is a tool for securely storing crypto while also enabling DeFi features like staking and lending—with full user control.
Is a DeFi Wallet secure?
Yes—especially compared to exchange wallets. Whether using a hardware device or secure app, you stay in control.
How do I withdraw funds from a DeFi wallet?
You can either swap tokens for stablecoins or transfer them to an exchange for cash-out.
Where can I get a DeFi wallet?
Hardware wallets should be purchased directly from the manufacturer. Most DeFi wallet apps are free to download.