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Everything’s going DeFi this year. Decentralization might be the latest buzzword in the cryptocurrency space, but it’s not new. The original and largest cryptocurrency, Bitcoin, has always been decentralized. That was the whole point of blockchain technology, that it could sustain itself without the intervention of a central authority. 

What has changed is the emergence of Layer2 scaling, which works like this. Transactions are handled off-chain to improve the speed, cost, and quantity of the transactions. Here’s a familiar example.

Back in the day, cash was directly related to a stash of gold the government held in a vault. The inconvenience of carrying actual gold, and shaving off a few grams whenever one made a purchase was obvious, so we used cash instead to represent the gold. 

Gold was layer1. Cash was layer2. 

The Bitcoin and Ethereum networks are Layer1. The Lightning Network and DeFi platforms are layer2. 

What you’ll learn 👉

Top DeFi Wallets

Privacy, security, and utility were always traded off against each other until DeFi emerged. Now your wallet can have all the useful features you want, with almost no compromise on security or privacy. There are dozens of projects offering similar services, but how do we choose between them?

An Overview of DeFi Wallets

Certain features are non-negotiable, for example:

  • Open Source Software – available for inspection by anyone
  • Fully custodial – You retain exclusive ownership of your private keys
  • Anonymous – You don’t supply any personal information
  • Compatible with DeFi networks and assets

Non-critical features include:

  • Investing your crypto in a lending pool
  • Attached DEX (Digital Exchange).
  • Borrowing against your assets

DeFi Wallet Characteristics

Below are a few of the most popular wallets and a brief rundown of their features. They all do largely the same stuff, so I have focussed on their more innovative features. Some are much better presented than others and inspire real confidence. It’s still early days in the DeFi wallet space, as we can see from some of the less inviting offerings. 


First released in 2016 as a browser extension, Metamask by ConsenSys is considered one of the most secure DeFi wallets around. Now available as a mobile app, it can manage your transactions, your private keys, and all your basic wallet requirements. It also interacts with WEB3.0 applications (The Decentralized Web), such as Rarible, Maker, Opensea, and Uniswap.

You can make in-app swaps of ERC20 tokens with their onboard exchange, but perhaps the most interesting feature is associating Metamask with your hardware wallet. You can have the security of cold storage with all the advantages of an online DeFi wallet, as we shall see later.

Coinbase Wallet

Anything associated with Coinbase is turning to gold at the moment, with their imminent direct listing on the Nasdaq stock exchange. Coinbase is the biggest and most respected centralized crypto exchange in the U.S, but they have a separate DeFi wallet application called Coinbase Wallet. 

The original Coinbase exchange platform requires you to store your cryptocurrency in their web application, so you don’t hold the private keys. Remember the saying, “Not your keys? Not your cheese!” Their DeFi Coinbase wallet gives you exclusive custody of your private keys, with no requirement ever to distribute them to third parties. 

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You can access DApps (Decentralized Applications), send and receive ERC20 tokens, and interact with all the popular Layer2 Ethereum platforms. It’s by Coinbase, so it’s a well-trusted application, backed by one of the fastest-growing networks in the cryptocurrency space.

Coinbase Wallet

Trezor & Ledger Wallets

Cold storage hardware wallets are the least vulnerable to online attacks, but to engage with DeFi products you need to connect to the network. The nature of this connection is important. Applications like DeFisaver and Metamask interface with your cold storage wallet without ever being able to see your private keys. 

Trezor is regarded as more Bitcoin-focused, and recently the Ledger has become the default hardware wallet. Both now interact with Ethereum network platforms, where most of the DeFi world exists. 

Personally, I would have a separate hardware device for large amounts of cryptocurrency, and one for interfacing with DeFi platforms. At $69 – $200 per device, it depends on the amount of crypto you hold, whether the risk justifies the expense.

Get Ledger by clicking here and Trezor by clicking here.


Along with all the usual wallet services – saving, borrowing, and token swaps – the Argent wallet has an innovative recovery feature – Guardians. As they point out, everyone has known for years not to scribble their passwords on post-it notes. So why would we write down our seed phrase on a vulnerable piece of paper?

The DeFi solution is quite neat. When you install a wallet on your phone, a smart contract is embedded identifying your ‘Guardians.’ These are people, devices, or third-party providers that are needed to confirm a wallet recovery. Only you hold your private keys so you retain exclusive access to your Guardians list. You can select as many of each type as you want, and edit the list whenever you like.

Argent Wallet

The safest option is to nominate your hardware wallet as a Guardian. The fewer humans involved, the better, but if you select friends and relatives who use the Argent app, try to make sure they are not aware of one another’s Guardian status. 

The Guardians feature is the current subject of an EIP (Etheruem Improvement Proposal), as Argent is keen to see wider adoption of the technology. Good luck to them! 

Another cool little extra is being assigned an ENS (Ethereum Name Services) domain name with each application installation. These are in the form, “XXXX.argent.eth,” and have lots of other uses. They act as a front end for accepting crypto payments, allow access to the decentralized web, and ending in “.eth” they may become valuable in their own right, one day.

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This open-source platform is aimed at businesses that need a DeFi network on which to operate. AlphaWallet runs an open framework called TokenScript, which they view as the “HTML of tokens.” This allows developers to design “smart-tokens” to perform whatever functions a project requires. AlphaWallet is focused on tokens being integrated across multiple systems, eventually allowing seamless integration with the entire decentralized web.


The actual DeFi wallet is the application from where all these smart-tokens can be accessed and coordinated. The design is easily customizable for a unique look and feel for your DeFi project.

The important selling point of AlphaWallet’s platform is its generality. It’s a blank canvass onto which startups can paint their DeFi business vision. 


They advertise as a “Crowd-powered asset management protocol,” yet they have less than US$ 5,000 under only 9 managers. They offer a service similar to eToro’s dubious mirror-trading feature. The difference is that you can’t choose which traders to emulate. 

The website is shoddy and they claim to have a monthly ROI of 0%, which still seems optimistic to me! Page 2 of their websites even begs for donations. The whole thing feels like it’s best avoided. 


I didn’t get past the ‘about’ page with this company. If they can’t provide information about their product in anything like competent English, then I worry about the efficacy of the rest of the platform. When it comes to my money, I need to be confident about the service providers I use.

On the upside, they have a track record in the crypto wallet space, with Bither. They also support plenty of networks – Bitcoin, Ethereum, EOS, LTC, Dash, Zcash, Tron, etc. Independent reviews and comments are generally negative, so alarm bells are ringing here. Sorry, but no thanks.


Cobo Wallet

By now you know the drill – it’s a DeFi wallet that supports ERC20 tokens on the Ethereum network, connecting you to WEB3.0, etc. The stand-out feature of China’s Cobo Wallet is the support for more than 20 sidechains and 700 tokens. The platform offers custodial services for enterprise-level clients. 

As an average retail crypto investor, “stable returns and worry-free investing from an all-in-one app to manage your digital assets,” look good to me. A nice touch is no-fee transfers to other Cobo Wallet users from within the app.

Key Points to Consider

Given our non-negotiable features, there are still plenty of choices. I would never keep life-changing quantities of cryptocurrency in a hot wallet, exposed to the internet. However, all these DeFi wallets should be safe, as long as the devices on which you run them have not been compromised. Remember, it‘s far more likely that a security breach is the result of user error, rather than a design fault. 

DeFi Wallet Comparison

Usually, there’s a tradeoff between functionality and security, but with DeFi tech, that is less of a problem. DeFi wallets are focused on privacy, but good internet housekeeping is still required. As long as the software is open source and you never have to give up your private keys, they are all effective.

It’s the extra services that set some wallets apart, whether it’s a simpler recovery process, compatibility with hardware wallets, or investing and borrowing.


If I wanted a belt-and-braces approach, I would have a dedicated Ledger wallet connecting to DeFi networks via Metamask. I would also tend to keep to the larger, more established platforms in these early days. 

For smaller amounts, I would choose the Argent or Coinbase DeFi wallets. It depends on which tokens I wanted to hold.


Are DeFi wallets safe to use?

Yes, as long as you follow a few simple rules. Never give out your seed phrase or private keys. Do not hand over personal information when you sign up, and try to avoid getting scammed by always checking the URL is not fake.

What are the daily deposit limits on DeFi wallets?

For tokens and cryptocurrencies, it should be unlimited. Buying with fiat currency from a bank account, $25,000 per day is common. If that’s not enough for you, then it’s a nice problem to have.

What kind of cryptocurrencies do DeFi wallets support?

Most DeFi projects are based around the Ethereum network, so they will support ETH, ERC20 tokens, and stable coins USDT/USDC. The market is new and wallets are competing for clients, encouraging wallets to handle as many assets as possible. Check each wallet to confirm your favorite tokens are supported.

How can you use Ledger for DeFi?

Simple. Connect to a compatible DeFi wallet like Metmask or DeFisaver to manage your transactions. You can import your hardware wallet addresses and interact with Layer2 DeFi wallet applications without ever having your private keys exposed to the internet.

What is a web3 wallet?

We have to be careful here. Web3js is a programming standard that interacts with the Ethereum blockchain. Web3.0 refers to a new “semantic, decentralized internet.” It’s a relatively new term you’ll be hearing much more about in the coming years. For the purposes of this article, it means the decentralized internet, powered by blockchain.

How do I get involved in DeFi?

Select a DeFi wallet from the list above, go to the link, download, and install. Import other wallets or send yourself come crypto, and you’re off! 

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CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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Bitcoin Analysts Regard a Short-Squeeze, Crypto Market Analyze



The funding rate scales the cost to fund long positions in the market for bitcoin ever lasting changes. In another word, a type of derivative in the cryptocurrency markets look like futures contracts in traditional markets.

Since June, total assets under management across exchange-traded. And also over the counter traded digital asset investment products dropped by 14% to $34.8 billion.

Weighed up with traditional asset classes, digital asset markets still own a “long way to go before more risk-averse investors are fully at ease,”. Based on a report by CryptoCompare.

NFT effect on Ether

As NFTs obtain reputation regardless of an overall bearish sentiment in the crypto market. Some NFT critics inside the market took to Twitter blaming the non-crypto natives who withdrew their Ether at once after NFT sales for the uninspired price movement of the second-largest cryptocurrency by market capitalization.

However, based on multiple analysts and market contributors, the effect of NFT sales, stays a nonfactor on Ether’s prices. Instead, the complaint showcases many traders and investors’ frustrations in a slow market.

The guess“is more like a reflection of the current market sentiment,”. Daniel Lv, co-founder of China-based blockchain Nervos Network, told Muyao Shen through a representative.

The blame, though, isn’t all irrational since growth in the NFT market has not quite slowed down partly because of the large number of confirmations, got from non-crypto celebrities.

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Celebrities Who Have Invested in Bitcoin



Bitcoin, and cryptocurrency in general, is an ever-growing phenomenon in the 21st century. Since the invention of Bitcoin in 2009, Bitcoin stocks have grown rapidly. People today are becoming more and more accepting of Bitcoin, with seventeen percent of the American adult population admitting to having invested in Bitcoin, and even more admitting that they’ve invested in other cryptocurrencies. 

It isn’t just regular, everyday people who have shown an interest in Bitcoin, and crypto, though. Many major celebrities have embraced digital currency, and have made quite a pretty penny out of it. In this article, we will take a look at a few celebrities who have invested in Bitcoin and the profits they have made. 

But first, let us take a look at how Bitcoin investment works, and how you can profit off of it.  

How to Profit off of Bitcoin

The best way to profit from any form of digital currency is to make an account at one of the many crypto trading sites. These sites offer an interface that is easy to use for beginners and allow new investors to purchase or sell their digital assets. Most trading sites require little else than a password, email, and username.

One of the sites which offer these benefits is Bitcoin Power. Not only is it easy to use, but it also provides a safe and secure network, allowing you to track your earnings at any point in the day, in real-time. Also, these sites use new Artificial Intelligence technology to read and predict the volatility and fluctuation of the crypto stock market and allow you, as an investor, to make the best investments and maximize your profit.   

Now let’s take a look at a few celebrities who have embraced cryptocurrency as a viable method of profit, and how it went for them.  

Paris Hilton

Hotel heiress, actress, and social media influencer, Paris Hilton has admitted to dabbling in Bitcoin and NFTs. Last year, Ms. Hilton admitted to purchasing stocks in Bitcoin, and subsequently, she changed her social media profile images to feature laser eyes. The laser eye meme is associated with the rise of the stock of Bitcoin. 

When questioned further about bitcoin and NFT’s in the interview, Ms. Hilton claimed Bitcoin is the future, and she is very excited about the opportunities it can provide. In March of 2020, Ms. Hilton won the NFT Charity Award for her first NFT, which subsequently blew up and has been very exciting for the young heiress.  

Mike Tyson

Bitcoin has become quite a popular form of currency in the boxing world, with many professional boxers, such as Floyd Mayweather looking into, or already investing in the cryptocurrency. But, in 2016, ex-heavyweight champion, Mike Tyson, took his interest in Bitcoin a step further, with the launch of his very own digital wallet. A year prior, Mr. Tyson had sponsored a Bitcoin ATM, an ATM that allows Bitcoin investors to trade real cash into cryptocurrency. After this proved successful, the ex-heavyweight champion took it further by releasing a digital wallet.

A digital wallet, for those who may not know, is a software system that allows for the safe storage of user information regarding numerous payment methods, including Bitcoin. This move has inspired other professional boxers, such as Tyson Fury to get into the world of cryptocurrency and NFTs

50 Cent

American rapper, actor, TV, and music producer 50 Cent, real name Curtis Jackson, made the controversial decision to accept Bitcoin payments for his album “Animal Ambition” in 2014. At the time, Mr. Jackson got about 700 Bitcoin, which in 2014 was worth around $500.000. A few years later, however, in 2019, the price of Bitcoin skyrocketed, earning the rap legend an astonishing $8.000.000. 

Jackson, in an Instagram post, claimed that he is proud of himself, thought that he had forgotten all about selling his album for bitcoins. 

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