rewrite this title 6 Best Secure Open-Source Crypto Wallets For Investors In [currentyear]

The best open source crypto wallets are software or hardware tools that publish their entire programming code for the public to inspect and verify. But along with open-source design, the wallet must offer advanced security and privacy features, and be easy to use. 

The top 6 best open-source wallets for cryptocurrency storage are Trezor Safe 3, Trezor Model T, Electrum, MyEtherWallet, Unstoppable Wallet, and Wasabi Wallet.

In this guide, we will review the best open-source cryptocurrency wallets along with their key features, pros, and cons. We will also provide an in-depth guide on how open-source wallets work, how to use them safely, and how they differ from closed-source options.

1. Trezor Safe 3

Best for: Investors who want high-end open-source hardware wallet security at a low price point.

The Trezor Safe 3 is a hardware wallet that utilizes an EAL6+ certified secure chip to protect your private keys while maintaining a 100% open-source firmware. It looks like a small car key fob, and it connects to your computer using a USB-C port. The cost of this wallet is around $59 (€59), but it supports access to thousands of coins with the help of the Trezor Suite software app.

Key Features

Secure Element: It has a certified CC EAL6+ chip that safeguards your private keys on a hardware level.Open-Source: Transparent firmware and software that you can inspect.Passphrase & PIN: Additional vault-like protection on the device.Multicoin Support: Compatible with thousands of cryptocurrencies, 8000+ to be exact.Backup: It offers 12, 18, or 24-word seed with optional multi-share backup.

Pros

It features a very strong EAL6+ certified secure chip for top-tier physical protection.The device is much cheaper than most other premium hardware wallets on the market.There is a Shamir Backup support, which allows you to split your recovery phrase into multiple parts.It supports over 8,000 different coins and tokens across various blockchains.

Cons

There is no touchscreen on this model, so you have to click the physical buttons a lot.The screen is kind of small if you have trouble reading tiny text during a transaction.You won’t find any wireless connectivity (Bluetooth is not supported, for security reasons).

2. Trezor Model T

Best for: Users who value extra hardware protection for long-term storage.

Trezor Model T is the oldest open-source hardware wallet from Satoshi Labs. It features a large color touchscreen to help you manage your digital assets with much more ease. Well, this was the very first device to really push the idea of doing everything on the device screen itself rather than on your computer. Though it’s no longer sold new (you can buy its upgraded version, Trezor Safe 5), it still receives software updates and is trusted by many investors.

Key Features

Touchscreen Display: It offers an intuitive interface with color graphics.Shamir Backup (SLIP39): You can split the seed into multiple shares for robust recovery.Open-Source: Full code auditability and community involvement.Multicurrency: It offers native support for Bitcoin, Ethereum, and 1000s of altcoins.

Pros

The color touchscreen makes the whole user experience feel very modern and fast.You can enter your most sensitive data directly on the device instead of your PC.It supports a massive range of coins, including advanced privacy coins.It works great with third-party apps like MetaMask or Exodus for a better variety.There is a MicroSD card slot for encrypted storage and advanced developer features.

Cons

It is one of the more expensive ($219) hardware options currently on the market.The plastic casing can feel a bit light compared to some metal-bodied wallets.No dedicated Secure Element chip (relies on software protection).

3. Electrum

Best for: Bitcoin maximalists who want a fast, technical, and highly customizable desktop experience.

Electrum is a classic Bitcoin-only software wallet that has been operational since 2011 and is quite famous for being extremely fast and secure. Basically, it is not very user-friendly, but it is incredibly reliable for long-term use. Mainly, people love Electrum because it is a “thin client”, which means it doesn’t download the whole massive blockchain to your laptop. It only uses specialized servers to get that information very quickly for you. 

Key Features

SPV Wallet: Quick setup; transactions via trusted servers.Lightning Network: You can send Bitcoin almost instantly with low fees.Custom Fees: You can decide on transaction fees and confirmation speed.Cold Storage: You can keep keys offline and use a watch-only mode online.Seed Recovery: It offers the same standard 12-word recovery phrase to restore your wallet.

Pros

It starts up almost instantly on your computer because it is so lightweight.You can use it with almost any hardware wallet like Trezor or Ledger.The multi-signature feature is excellent for businesses or for families.It is completely free to download and use without any subscription fees.

Cons

It only supports Bitcoin, so you can’t put your Ethereum or Solana coins here.The interface looks a bit like old software from the 1990s and might feel boring.

4. MyEtherWallet

Best for: People who want an open-source wallet for the Ethereum network or ERC-20 tokens

MyEtherWallet is an open-source, client-side interface that lets you interact directly with the Ethereum blockchain without using a middleman. Well, what makes it best is that it doesn’t store your private keys on any central servers. Everything happens right inside your own browser or on your personal phone. You can swap your tokens, look at your NFTs, or even interact with complex smart contracts directly.

Key Features

Hardware Wallet Integration: You can easily connect Trezor, Ledger, or other wallets for secure signing.DeFi & DApps: Interact directly with decentralized apps and exchanges.Token Management: You can view and send ERC-20 and NFT tokens.Security Options: Download MEW offline or use a hardware wallet for extra safety.Open-Source: Well, anyone can audit or contribute to the code; it’s community-driven.

Pros

It is totally free and supports every single ERC-20 token in existence.You can connect it to your hardware wallet for an extra layer of safety.The mobile app is very sleek and easy to navigate for non-native speakers.It gives you direct access to Layer 2 networks like Polygon and Arbitrum.

Cons

It can be a bit overwhelming for total beginners because it has so many features.You have to be very careful about fake websites trying to look like the real MEW.

5. Unstoppable Wallet

Best for: Privacy-conscious users wanting anonymity features on mobile.

Unstoppable Wallet is an open-source mobile wallet (Android/iOS) built for managing many different cryptocurrencies while keeping privacy in mind. Today, it supports Bitcoin, Ethereum, Zcash (shielded), Dash, and dozens of other coins and tokens. 

Also, the app uses Tor for all connections to avoid revealing your IP address, and it also offers features like a “duress” mode that hides sensitive info if you’re forced to open the wallet under stress.

Key Features

Privacy Coins: It supports fully shielded Zcash and others.Open-Source: MIT license, code on GitHub (also on F-Droid for Android).Tor Integration: All blockchain queries and transactions go through Tor.Decentralized Swaps: It can easily connect to DEXs (Uniswap, etc.) with one tap.

Pros

No accounts, no tracking, and no KYC (Know Your Customer) checks are needed.It is a fully open-source wallet and is very transparent about its active development.The design is very clean and works smoothly on both iOS and Android phones.It supports privacy coins like Zcash and Dash for better anonymity.

Cons

It doesn’t have a desktop version, so you are stuck using your phone.Some of the advanced features might take a bit of time to learn properly.

6. Wasabi Wallet

Best for: Investors who prioritize privacy and want to keep their Bitcoin transactions hidden.

Wasabi Wallet is a privacy-focused Bitcoin wallet for desktop that is famous for its built-in CoinJoin feature. It is open-source and built specifically to hide your transactions from people watching the public blockchain. Also, it is free and open-source (all code is on GitHub), and it includes advanced privacy tools by default. Hence, all network activity is routed through Tor to hide your IP address. 

Key Features

Tor Everywhere: It basically ensures your wallet actions can’t be traced to your IP.WabiSabi CoinJoin: Trustless mixing to anonymize your coin history.Privacy Suggestions: Wallet advises ways to improve transaction privacy.Silent Payments: It offers reusable static addresses for private donations or merchants.Open-Source: Transparent wallet code that anyone can inspect.

Pros

It has the absolute best privacy features for Bitcoin of any wallet today.It works seamlessly with hardware wallets to keep your keys offline.The CoinJoin process is mostly automated now for easier use.The wallet uses the Tor network by default to hide your personal IP address.

Cons

It is only for Bitcoin, so don’t try to send your other coins to this app.The privacy features can sometimes make your transactions take a bit longer.

What is an Open Source Crypto Wallet?

An open source crypto wallet is a digital financial tool where the original source code is made available for anyone in the world to see, study, and change. You see, in a normal traditional bank, you have absolutely no idea how their software works or who has access to it. But with an open-source wallet, you can actually check if the developers put a “backdoor” in there to steal your funds later.

Generally, these wallets are built by large communities or specialized companies that believe in total transparency for the user. They share their code on websites like GitHub for everyone to review. Now, because the code is public, hundreds of independent security researchers look at it every single day, and if there is a bug or a security hole, someone usually finds it and fixes it pretty fast. It is basically the opposite of the “trust us” model, and instead, it tells the user to “verify us” using the public data.

Which Crypto Wallets are Truly Open Source?

Truly open source crypto wallets are those that use specific licenses like MIT, GPL, or Apache to ensure that anyone can verify and compile the code themselves. 

Now, generally, some wallets claim to be open-source, but they will only show you a small part of their actual code. Well, that is “partially” open. It is definitely not the same thing when your life savings are on the line. So, to be truly open, every single part, from the user interface to the way it handles your private keys, must be public.

Also, if a wallet is truly open-source, you should be easily able to build the actual application from the raw code by yourself. This is called a “reproducible build,” and it is the highest level of trust you can get in the crypto world. It ensures that the app you download is exactly the same as the code that was audited by the public experts.

Now, let’s see whether our above-listed open-source crypto wallets are “truly” or not…

Wallet NameOpen Source TypeMain FocusTrezorFully Open (Hardware & Firmware)Maximum TransparencyElectrumFully Open (MIT License)Bitcoin SecurityMEWFully Open (Client-side)Ethereum EcosystemUnstoppableFully Open (GPL License)Mobile PrivacyWasabiFully OpenBitcoin Privacy

Pros and Cons of Using Open Source Crypto Wallets

Pros of open-source crypto wallets

Transparency: You can see exactly how your private keys are managed by the software.Community Audits: Generally, there are thousands of professional eyes on the code to find and fix bugs.No Vendor Lock-in: If a company goes out of business, the community can keep the wallet alive.Trust: You don’t have to rely on a single company’s promises or marketing.

Cons of open-source crypto wallets

Easier for Hackers to Study: Bad guys can look for holes in the public code at their leisure.Technical Complexity: Sometimes these wallets are a bit harder for a human to use for the first time.Slower Updates: Because everyone has to check the code, new features might take longer to arrive.

How Do Open Source Crypto Wallets Work?

Open source crypto wallets work by using publicly verifiable mathematical formulas to generate your private keys and sign transactions on the blockchain. 

Well, it all starts with something called a “seed phrase”. It is a simple list of 12 to 24 words. The wallet uses a standard mathematical formula to turn those words into your cryptographic keys. Now, since the code is open, you can check that the wallet is actually using a truly random process and not a “rigged” one that gives the developer your keys.

Next, when you want to send money, the wallet creates a transaction and then “signs” it with your private key. This signature is a digital stamp that proves to the network that you own the coins. 

Okay, here, the open-source part ensures that the wallet doesn’t accidentally send your private key to the developer’s server while it’s doing this. It stays safely on your own device, which is exactly how digital security should work for everyone.

Open Source vs. Closed Source Crypto Wallets: What’s the Difference?

The main difference between open source and closed source crypto wallets is who is allowed to see the instructions that run the software. So, in short, open source wallets let you audit their code, while closed wallets keep the inner workings hidden behind a company’s promise.

FeatureOpen Source WalletsClosed Source WalletsCode VisibilityPublic for everyone to readSecret and ProprietarySecurity VerificationAnyone can audit the codeOnly the company audits itDevelopment StyleCommunity + Company effortOnly the company develops itRisk of BackdoorsVery Low (due to public eyes)Higher (hidden from the public)Speed of FeaturesCan be a bit slowerOften faster and shinier

How to Choose an Open Source Wallet for Your Needs

To choose a top-rated open-source crypto wallet, you need to consider factors such as security measures, supported coins, hardware or software preference, user interface, firmware updates, and company history.

Security protocols and backup methods: You must evaluate the security protocols and backup options that each wallet provides for your coins. So, you can look for wallets that offer things like Shamir Backup or multi-signature support. Plus, having a wallet with an EAL6+ certified chip is even better for physical safety. Also, if you are looking for hardware security, check out our guide on the best cold wallets.Supported cryptocurrencies: Your chosen wallet needs to support the specific cryptocurrencies that you currently hold in your portfolio. You see, some wallets like Electrum only work for Bitcoin, while others like Trezor handle over 8,000 different tokens. Hence, it would be a total waste to buy a hardware wallet that cannot store your favorite altcoins.Hardware vs. software preference: You know, hardware wallets provide the best protection because they keep your private keys away from the internet, but software wallets are pretty fast and convenient for daily spending on your phone. So, you just have to balance how much you want to carry versus how much you want to protect.User experience and interface: The user interface should be simple enough for a normal person to navigate without making expensive mistakes. You really want a screen that is clear and easy to read, so you don’t send money to the wrong address.Developer activity and updates: Basically, active development and frequent updates from the creators show that the wallet is still safe and reliable. You can visit GitHub to see how many people are working on the code every month. A project that hasn’t been updated in a year is kind of risky for your funds. Also, you know, a strong community of developers usually means that bugs get fixed before hackers can find them.Company history and reputation: The history and reputation of the wallet company play a massive role in building trust with investors. Well, companies like Trezor have been around since 2013 and have a solid track record of protecting users. Also, you should avoid brand-new wallets that don’t have many reviews from the community yet. Basically, you should stick with a brand that has survived multiple market crashes.

How to Use an Open Source Crypto Wallet Safely?

To use an open-source Bitcoin wallet safely, you need to follow these steps: 

Verify the source code and official downloads: You must always download your wallet software directly from the official website or a verified app store to avoid fake versions. You see, scammers often create copycat websites that look exactly like the real thing but contain malicious code to steal your private keys.Secure seed phrase backups: Well, storing your 12 to 24-word recovery phrase on physical paper or metal is the most reliable way to prevent digital theft. Hackers can easily find a screenshot of your seed phrase on your phone or a hidden text file on your laptop. Hence, keeping this phrase offline in a fireproof safe ensures that no one can access your wallet even if your computer gets compromised.Enable security features like PIN and 2FA: You should activate every available security feature, like a strong PIN code or biometrics, that adds an essential layer of local protection to your assets.Test the wallet with small amounts: You can start by sending a very small test transaction to a new wallet to prove that you have set everything up correctly before moving large funds.Keep software and firmware updated: Installing the latest software updates as soon as they become available protects your wallet from newly discovered security vulnerabilities.

Can I Create an Open Source Crypto Wallet for Free?

Yes, you can easily create an open-source crypto wallet for free by downloading any of these reputable software applications like Electrum, MyEtherWallet, or Unstoppable Wallet. 

Generally, you only have to pay money if you want to buy a physical hardware wallet like a Trezor, which usually costs between $60 and $280. The software code itself is almost always free because it is built to be a public tool for the entire world to use.

Are Open Source Crypto Wallets Legit and Reliable?

Yes, open source crypto wallets are the most legit and reliable tools in the industry because they are built on a foundation of total transparency. Actually, most professional experts and “whales” who have millions of dollars only use open-source options for their money. This is because these tools have a very long track record of being more secure and honest over many years.

Obviously, no software is 100% perfect, but open-source wallets have far fewer “nasty surprises” than closed-source ones. So, when you use a well-known open-source wallet, you are eventually using a tool that has been tested and verified by millions of people. Honestly, that is a massive amount of social proof that the tool actually works and won’t suddenly steal your coins through a hidden update.

Is Trezor Still a Crypto Open Source Hardware Wallet?

Yes, Trezor is still a fully open-source hardware wallet brand, and it remains the global leader in transparency. Even their latest models, like the Safe 3 and the Safe 5, keep their firmware completely open for anyone to inspect on GitHub. 

Conclusion: What is the Best Crypto Open Source Wallet in 2026?

To wrap things up, ultimately, there isn’t just one single “best” wallet for every person, but there is definitely a best one for your specific needs. So, if you are looking for the absolute best security for a large investment portfolio, you should probably go with a Trezor Model T or the Safe 3 because these are cold storage wallets.

Next, if you are a Bitcoin-only investor who wants total control, Electrum and Wasabi are the best ones. Yes, they are a bit more technical, but they give you a lot of professional power over your transactions. For those who use the Ethereum network and DeFi, MyEtherWallet is still the undisputed champion of transparency. And if you just want something private and easy to use on your phone, Unstoppable Wallet is the best open-source mobile wallet. Now, for complete anonymity, you can also check out our guide on the best anonymous crypto wallets.