Proven crypto wallets for Russians in 2024

As cryptocurrencies become more popular among Russians, there is an increasing need for reliable and convenient crypto wallets. A crypto wallet is a tool for storing, sending and otherwise managing digital assets.

Choosing a crypto wallet is a challenge that requires you to take into account a lot of factors, which is particularly relevant in the context of the rapidly changing cryptocurrency market and the current political and economic landscapes. For Russians, this may be even more complex for a number of reasons, with the main one being the geopolitical instability and sanctions. Because of the restrictions imposed by Western countries, some international companies may suspend their services for users in Russia, resulting in inaccessibility or inadequate operation of popular crypto services.

But this is just one aspect of the story. Even if a wallet continues to operate in Russia, it should be not only convenient and sufficiently functional, but also secure.

In other words, good protection of crypto wallets is also an essential factor when making a choice. This is due to the increasing number of cyber threats and frauds in the cyberspace, which requires that users are particularly vigilant and cautious. 

So, below are the most reliable cryptocurrency wallets for Russians that experts of SEVEN SENSES can recommend based on their experience and competencies.

Our ranking opens with hardware wallets. These are considered the safest method for storing cryptocurrencies, as they are isolated from the Internet and as such are well (but still not completely) protected from hacking.  Ledger Nano X is one of the popular models. It supports more than 1,500 cryptocurrencies and provides a high level of security thanks to a secure chip. Trezor Model T is another leader among hardware wallets, which supports a lot of cryptocurrencies and features a convenient touch screen for control. But both these wallets have drawbacks, such as a high cost compared to their software counterparts and being not convenient enough for active trading.

Trust Wallet is definitely worth attention when considering crypto wallets operating in Russia. It is the official wallet of Binance, which supports thousands of cryptocurrencies and tokens. It is available for both Android and iOS mobile devices.

For Russian users, Trust Wallet has its benefits and drawbacks that should be considered when making a choice.

 Benefits of Trust Wallet

1. Ease of use. Trust Wallet offers an intuitive and easy-to-use interface, which makes it suitable to both newbies and experienced users.
2. Supporting many cryptocurrencies. Trust Wallet supports more than 160 thousand cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and many others. Besides, it provides an opportunity to exchange cryptocurrencies directly via its app thanks to the integration with DEXs, such as PancakeSwap and Uniswap.
3. High level of control. Users of Trust Wallet are in full control of the storage of their private keys, which provides a good level of security and prevents third parties from accessing their funds. Besides, Trust Wallet does not store user data on its servers, which reduces the risk of hacking and data breach.
4. Additional functions. Users can earn passive income from staking in some cryptocurrencies directly via the app.  And an integrated dApp browser allows them to interact with decentralized apps and services on blockchain.
5. Supporting the Russian language. Trust Wallet is available in Russian, which makes it easier to use for Russian users.

 Drawbacks of Trust Wallet

1. No desktop version. Trust Wallet is only available on mobile, which may be inconvenient for users who prefer dealing with cryptocurrencies on a desktop.
2. Limited support of fiat currencies. Trust Wallet does not support direct exchange of rubles and other fiat currencies for cryptocurrencies, which requires the use of third-party services for buying digital assets.
3. Dependence on Binance. Although Trust Wallet is a decentralized wallet, the fact that it belongs to Binance may cause concerns among some users, especially in the context of geopolitical turmoil and sanctions. And while Trust Wallet is still on the list of crypto wallets operating in Russia in 2024, the fact that Binance has left the Russian market still puts some of the Russian audience on guard.
4. Low security of mobile devices. The use of a mobile device for storing cryptocurrencies may be risky due to vulnerabilities of mobile operating systems and the risk of loss or theft of the device itself.
5. Lack of two-factor authentication (2FA). Trust Wallet does not support two-factor authentication and this may be regarded as a drawback for users who want an extra level of security. Therefore we recommend that this function is used on the platforms you link your wallet to.

When considering what crypto wallets are operating in Russia, we should also mention SafePal. It is a cryptocurrency wallet that supports a lot of assets and offers both hardware- and software-based solutions. It is known for its security and convenience. Let us explore its main benefits and drawbacks.

 Benefits of SafePal

1. High level of security. SafePal offers hardware wallets (SafePal S1) with strong protection against scams due to being isolated from the Internet and the use of a secure chip. Besides, SafePal uses encryption, biometric authentication, and other methods of protection to ensure security of user funds.
2. Supporting many cryptocurrencies. SafePal supports more than 10 thousand cryptocurrencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and many others. Besides, it supports multiple blockchains, such as Ethereum, Binance Smart Chain, TRON, etc.
3. Ease of use. SafePal offers a user-friendly interface, both for hardware- and software-based wallets, which makes it suitable to users with different levels of experience. Its mobile app for both iOS and Android allows for managing assets in any place at any time.
4. Integration with decentralized applications (dApps). Users can interact with decentralized applications and services on blockchain directly via the SafePal mobile app.
5. Regular updates and support. SafePal is constantly releasing updates for its products, maintaining the wallet’s relevance and security. Users also have access to 24/7 multilingual support.

 Drawbacks of SafePal

1. A high cost of the hardware wallet. Like other hardware wallets, SafePal S1 is quite expensive, which may be critical for some users.
2. Dependence on a mobile device. Although the wallet’s mobile app is convenient and well-designed, dependence on mobile devices can create additional risks, such as theft or loss of the device.
3. Limited functionality compared to software wallets. A hardware wallet may be less convenient for frequent transactions and daily use than software solutions. 
4. Complex configuration and use of a hardware wallet. This may be a difficult task for a user who has no experience dealing with cryptocurrencies.
5. Limited integration with fiat currencies. SafePal does not support direct exchange of rubles and other fiat currencies for cryptocurrencies, which requires the use of third-party services for buying digital assets.

Swapster is a convenient and reliable wallet in the form of a Telegram chatbot. Even newbies will easily understand how to use it. Experienced users will find a lot of useful and interesting functions. The bot supports more than 200 cryptocurrencies, it sends notifications to both your mobile phone and computer, and allows you to top up your wallet in one network and withdraw funds in another without extra fee or exchange.

 Benefits of Swapster

1. Topping up in cryptocurrency. For most coins and networks, there is no commission.
2. Exchange in a couple of clicks. Crypto for crypto, crypto for fiat, and fiat for crypto.
3. Convenient withdrawals. Crypto to an external wallet; RUB/EUR/KZT directly to a bank card.
4. Instant transfers to other Swapster users without a commission.
5. Free creation and activation of checks in crypto and fiat. Users can send funds to their Telegram contacts by specifying the coin and the amount the recipient will receive after activating the check in the bot.
6. AML verification of wallets and transactions directly in the bot. This allows for assessing the level of risk if there are doubts regarding the legality of assets or the address owner.  
7. Integrated AML monitoring of incoming transactions. To ensure legality of cryptocurrency, all incoming transactions are verified before they move to hot wallets in the bot.
8. Mandatory KYC procedure as another tool to ensure the wallet security.

 Drawbacks of Swapster

Currently, the wallet does not have a full-fledged mobile app. Although no need for installing third-party platforms is seen by some users as an additional advantage, others find it more convenient and customary to use a crypto wallet with a separate app.

So, having learned what crypto wallets operate in Russia in 2024, we come to an obvious conclusion. Choosing a cryptocurrency wallet depends on needs, experience and priorities of each user. However, in any case it is important to take into account the wallet’s security, convenience, whether it supports necessary cryptocurrencies and is available in Russia given the sanctions and restrictions.

Regardless of what wallet you choose, we recommend that you should adhere to all the main measures of protection against scams, such as using complex passwords, two-factor authentication, and backup of keys.  And if your wallet is hacked, funds are stolen, or any other trouble occurs, you can always seek for support from SEVEN SENSES, and we will do our best to get your funds recovered and will tell you how to avoid such situations in the future.