How to Choose a Crypto Wallet

Quick answer

Decide on custody first. A non-custodial wallet means you hold the seed phrase. A custodial service means a provider holds the keys for you. Then check networks, platforms, and security features. My Wallet is a non-custodial multichain wallet covering 19 networks on mobile, desktop, and Telegram.

1. Custody

Non-custodial: you hold the keys. Nobody can restore access if you lose your backup.
Custodial: a provider holds the keys. Usually requires KYC and gives the provider control over your account.

2. Networks

List the assets you hold and the networks they live on. My Wallet supports 19 networks (full list).

3. Platforms

Mobile (iOS and Android), desktop, and browser.
Telegram Mini App, if you use Telegram.
Check that your wallet syncs with the same seed phrase across devices.

4. Backup and recovery

Clear seed phrase backup during setup.
Support for importing 12- and 24-word phrases.
A way to view your backup later.

5. Security features

Password and biometric lock.
Auto-lock and manual lock.
Warnings for scam transfers and suspicious dapps.

6. Fees

Network fees go to the blockchain, not the wallet.
Check whether built-in swaps add a service fee. In My Wallet, swaps through the aggregator include a 0.875% service fee plus network fees.

7. Everyday features

Send, receive, swap, and buy in one app.
Dapp connections through WalletConnect and TON Connect.
Hardware wallet support if you use one.

8. Official sources

Download only from the official website or app stores.
Check the developer name and reviews before installing.

A quick self-check

Can you explain who holds your keys?
Do you know where your seed phrase backup is?
Does the wallet cover every network you hold assets on?
Can you use it on the devices you actually carry?
Do you know what fees you'll pay for transfers and swaps?

If you can answer yes to each, you've found a wallet that fits how you use crypto. If not, start with custody and work down the list.

Start with a secure wallet

Download My Wallet to explore crypto with self-custody—you hold the keys.

FAQ

Is a non-custodial wallet better than an exchange?

They serve different needs. A non-custodial wallet gives you control of the keys. An exchange holds them for you.

Do I need more than one wallet?

Not necessarily. Some people keep a separate wallet for experiments to limit risk.

Is My Wallet free?

The app is free. You pay network fees, plus the swap service fee when you use the built-in aggregator.

Can I move to another wallet later?

Yes. Your seed phrase can be imported into other compatible wallets.