Cryptocurrency wallets function as the means for holding crypto. These wallets allow users to connect to decentralized apps and store and manage all of their coins in a dependable and usually non-custodial application. In the Middle Eastern crypto space, there are many wallets where crypto holders store their digital assets.
Below, we will briefly look at the top cryptocurrency wallets in the Middle East for 2024.
Top Crypto Wallets in the Middle East
YouHodler
YouHodler is an excellent cryptocurrency wallet. It comes with features such as yield earnings, crypto loans, and an integrated exchange. The wallet uses 2FA authentication and is strengthened by $150 million in pooled crime insurance. It offers security via the use of Ledger Vault technology.
With cryptocurrencies like Litecoin and Solana, YouHodler members may earn enticing annual percentage yields (APY) of up to 15%. USDT and USDC are examples of stablecoins. But for stablecoins, the starting yield is set at 6%. YouHodler further provides options to enhance revenue with tiered incentives depending on trading volume and loyalty levels.
Ledger
The Ledger hardware wallet is among the safest options. Ledger offers two core variants: the Ledger Nano S Plus and the Ledger Nano X. The primary purpose of both devices is cold storage. Ledger Live, the company’s dedicated software, is compatible with these hardware wallets, which you can connect to your desktop or mobile device by Bluetooth or a USB cord.
Metamask
MetaMask lets users store their digital assets without depending on a third party. Users of MetaMask get their private keys via a 12-word passphrase. This data is encrypted to prevent the wallet provider from accessing or seeing the keys.
Binance
Binance operates as both a cryptocurrency exchange and a wallet. Holding an FSRA license in Abu Dhabi enables it to facilitate direct AED transactions. Accessing the Binance wallet requires a username and password, fortified by supplementary security measures like two-factor authentication. The platform is currently enabled for trading in local currencies in Bahrain, the United Arab Emirates, Saudi Arabia, Oman, and Kuwait.
Best Wallet
Best Wallet provides the premier crypto wallet for both investors and traders in the UAE. Its unique feature lies in its ability to store coins and tokens from various blockchains, such as Ethereum, Polygon, and BNB, with plans to include Bitcoin in the future. Moreover, users can effortlessly exchange these tokens between chains or manage their NFTs using a single mobile application.
Ellipal Wallet
The Ellipal Wallet is a very safe cryptocurrency wallet that cannot connect to cellular networks, USB, Bluetooth, Wi-Fi, or NFC devices. This kind of isolation greatly decreases the likelihood of online attacks and hacking attempts. The wallet is made of a strong aluminum alloy that is resistant to physical harm, water, and dust.
There are two types of the Ellipal Wallet: Titan and Titan Mini. The Titan Mini has a smaller, 2.4-inch HD LCD screen, while the Titan has a larger, 4-inch touchscreen. The Titan Mini is more portable than the other.
Takeaways
Crypto owners in the Middle Eastern opt for wallets such as Ellipal Wallet, Coinbase, Best Wallet, etc.
