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Secure crypto wallet: Here are the 6 that offer real protection

Fri 11 Aug 2023 ▪ 3 min of reading ▪ by Fitah
Getting informed Cybersecurity

Are your cryptocurrencies really secure? According to a recent report by CER, a company specializing in crypto cybersecurity, the majority of crypto wallets on the market are not really secure. Only three brands have managed to distinguish themselves by conducting rigorous and up-to-date penetration tests.

A secure crypto wallet

MetaMask, ZenGo and Trust Wallet: the most secure wallets!

The cybersecurity certification platform published a report on the security of crypto wallets last July. The results show that 13.3% of brands have carried out penetration tests to detect security flaws. Only three brands have performed up-to-date penetration tests, namely MetaMask, ZenGo and Trust Wallet. Rabby and Bifrost carried out tests on older versions of their software. Last but not least, Ledger Live tested an unknown version.

In all, only 6 out of 45 crypto wallets are truly secure, and have been subjected to penetration testing, according to the report. The report also established an overall security ranking for each wallet. MetaMask, ZenGo, Rabby, Trust Wallet and Coinbase Wallet top the list.

Crypto Goku on Twitter

Only major brands undergo penetration testing

Penetration testing is a method of finding security flaws in software. They simulate real-world hacking attempts to detect vulnerabilities before a product is released. According to CER, 39 of the 45 crypto wallet companies have not carried out any penetration tests. The reason for this could be the high cost of such tests. What’s more, if the company makes frequent updates to its products, each new update may disqualify the test carried out previously.

Popular brands are more likely to carry out security audits, including penetration tests. Indeed, they often have the necessary funds at their disposal, CER notes. Nevertheless, many crypto wallet brands rely on other security methods. For example, they use bug bounties to detect vulnerabilities.

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Fitah avatar
Fitah

Je suis passionnée par les cryptomonnaies, un monde que j'ai découvert il y a peine 3 ans. Mon seul but est de vous informer de cet univers incroyable à travers mes articles.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.