A decade ago, the only people who had wallets were those with cash or credit cards. These days, we’re all carrying the best digital wallets in our pockets. Digital wallets store passwords and important information for online shopping as well as financial data like bank account numbers and balances. They also let you pay for things without using your physical wallet at all!
But which is the best digital wallet to use in 2021? There are many different types of electronic money management systems out there: from PayPal to Google Wallet, Samsung Pay, Apple Pay, and Venmo. The one that’s right for you depends on what kind of phone you have and how much security you want your personal finances to have access to (for example). What’s more important is that it needs to be a digital wallet you can trust.
Why use digital wallets?
There are a variety of reasons why you should use digital wallets. These reasons range from the convenience factor to the increased safety of your money.
- Security: Your security is really important to us. We’ve prioritized it by using the latest in biometric technology, making sure that your information stays safe and secure
- Speed: Paying with your credit or debit card takes a lot of time – but when you use our digital wallet, you’re done in seconds!
- Money Management: What if I don’t have enough money on my card? If more money is needed for an item, we’ll let someone else cover it for you without even waiting around
- Mobility: Digital Wallets allow you to take your cards with you anywhere
Top Digital Wallets In 2021
PayPal is one of the first digital wallet players and has slowly built up a platform with user feedback. The result is a seamless browser platform that allows users to make and accept payments in over 25 currencies around the world- perfect for personal use.
Small businesses can also take advantage of their services, making it best for those customers interested simply in the best digital wallet.
- Save time and money by using PayPal
- PayPal is free to use if you’re sending money through your bank account or if you are involving no currency conversion.
- PayPal will also provide a secure, quick payment method for those who have access to credit cards.
- The mobile app has an easy interface that makes it simple to see recent receipts and expenses.
- You can also pay by connecting your bank account.
- Spend less time struggling with tech tools.
- Get paid instantly when you sell products or services online.
Exodus (Crypto Wallet)
The best thing about the Exodus Crypto Wallet is that it has a sleek and simplistic design. Exodus wallet is best for long-term storage. It also supports over 20 major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) as well as other popular currencies like Dash, Monero, Ripple XRP & more.
The best digital wallets in 2021 have to be easy to use. Exodus is an all-in-one package, meaning you can send, receive and store some of your best cryptocurrencies with just a few clicks or taps on the screen. The best part about this wallet? It’s totally free for personal use!
There are three key reasons that make Exodus the best in the market: security, versatility, and support. Security: The company stores your private keys on a machine that has never touched an internet connection so it cannot be hacked remotely or compromised by malware. Versatility: You can store multiple cryptocurrencies with this software (Bitcoin, Ethereum, Litecoin). Support: The customer service team is always available to help you out! They will even hold onto your funds if you need them to – no hacking risk here either.
Apart from that, you can use this wallet to make deposits at reliable iGaming platforms that accept cryptocurrencies like Bitcoin. Some only take digital currencies – this makes it more of a private opportunity to gamble on the internet. To find the best Bitcoin online casino, you can check reviews at trusted review sites such as OnlineCasinoHex.
However, Exodus is best for beginners only, as it doesn’t use open-source code. This means that it isn’t part of the blockchain network that all cryptocurrency runs on. This is a major concern for some, which is why Exodus remains popular for beginners rather than advanced crypto holders.
- Unlock the potential of cryptocurrencies with just one click
- Simplify transactions by switching between a wide variety of currencies
- Keep your coins safe and secure on this re-enforced platform
The next incarnation of digital wallets is the Alipay platform, which was one of the first to embrace this aspect. It offers 1 billion users worldwide and 80,000 stores using its service in Asia; it’s an ideal hub for personal or business transactions with a unique encryption platform that adds a layer of security.
- Ultra-protection: Alipay uses industry-leading encryption to keep your information private
- Low fees: Alipays’ low transaction fees (usually less than 1%) are significantly lower than those of banks.
- 24/7 Customer Support: Whether you speak Chinese or not, they have customer support available anytime and anywhere.
- Mobile App Versatility: You can pay in stores, transfer money, settle bills, and more all through the app.
- Skip Waiting Around for Verification Processes in Stores: Don’t bother with waiting around for a cashier to verify your identity when paying!
As digital wallets have shifted their focus from consumers to businesses, entrepreneurs have begun favoring financial platforms built specifically for them. Due, to a platform that came out in 2015 and focused on simplifying timekeeping, billing, and payment processing for employers.
One benefit of using the Due platform is that it charges a fixed fee, of 2.8%, which contrasts with other platforms where prices are variable based on the amount.
- Get paid immediately
- Keep track of time and expenses
- Payment is fixed at 2.8%
Stepping out of the best digital wallet list is Venmo, a platform popular with millennials who want to make quick transactions.
Venmo’s popularity stems from its simplicity and ease of use: it allows users to send money back and forth electronically through their phones or computers without waiting for approval or inputting complicated information, freeing up time that could be spent doing something else.
- Free Money Transfers: Send any amount of cash you’d like free of charge! No more worrying about how much your bank transfer will cost. Choose from over 700 of the world’s currencies for your payment
- Generous Friends: You can request anything under $500 from friends on Venmo in seconds! Perfect when you need some last-minute concert tickets at the last minute!
- A History of Payments: Venmo has been operating since 2010, so if you have a lot of transactions to go through it’s best to start there.
- Quick and Easy Transfers: Get paid on time with Venmo’s release payment option. The app offers convenience for those who want instant access to their money or just don’t feel like dealing with the hassle of waiting around at an ATM machine!
- Simple Interface: Less time spent trying to figure out how something works.
- Secure: Safely send money to friends and family
Cash App’s level-1 PCI-DSS certification and debit/credit card acceptance make it easy to engage in transactions. It also has an investing feature that lets you buy pieces of stock for as little as $1, not to mention its cryptocurrency conversion features! Withdrawing money from the app may incur fees depending on your withdrawal method; this is important information that will help keep you informed before making any decisions.
Cash App is a digital wallet for your iPhone only available with the newest models. It stores credit and debit card information which are converted into tokens that can be accessed by fingerprint. The app also has another product called Wallet, storing everything from boarding passes to concert tickets!
- Send and receive money from other users or donate to your favorite causes
- Get your paycheck up to two days early through direct deposit using Cash App routing and account number
- Sell Bitcoin without the need for a bank account, making you more independent financially.
Digital Wallet by Google, which is also called Android Pay and works in 40 countries with NFC technology.
The use of the device’s primary account number (DPAN) keeps your information secure from unauthorized retailers’ access to it – DPAN replaces funding account numbers for added protection. There are various features that come with google pay such as depositing funds into one’s digital wallet or making purchases at participating stores etc., Sending money using this payment method makes an option too!
- Make purchases at any participating retailer
- Send money to family and friends with the convenience of a tap on your phone
- View spending habits that may help you save more money in the future.
There is no fee when buying items but 31 cents/1.5% can be charged on every transaction towards transferring cash out if you need to do so from here again!!!
Dwolla (For Developers)
Dwolla is a digital payment solution that lets you send or receive money to and from anyone who also uses the platform. With Dwolla, people are identified by their email addresses (or cell phone numbers) rather than bank information – emphasizing the safety and security of your personal banking info over all else!
- Transfer money at a cheaper rate than PayPal
- Remain anonymous through Dwolla
- Receive $10 and over for less the cost of PayPal
The fee for transactions under $10 with Dwolla is 25 cents per transaction; whereas PayPal charges 2.9% + 30 cents on any amount up to $100 when sending/receiving funds. If someone sends you more than $100 through Paypal, they will be charged 0%.
Zelle is a new digital wallet for US citizens who are interested in sending and receiving money to other individuals using their debit card or checking account.
If you don’t have Zelle, you can still transfer money by using their app on an Android phone or iOS device. One cool feature of Zelle is it only takes two minutes to process transactions!
It’s important not to use this when exchanging items bought and sold through apps like Craigslist because there isn’t any protection if something goes wrong after sending someone funds from this site before receiving anything in return (trust me). Depending on what kind of banking services they offer at your financial institution, daily and monthly transaction limits may apply too so be sure to check with your bank before using Zelle.
Zelle doesn’t charge you anything to send or receive money, but depending on what kind of banking services they offer at your financial institution, monthly and daily transaction limits may apply so be sure to check with your bank before using this digital wallet.
Zelle is best for those who are looking for an easy way to transfer funds without having a credit card because it’s the only digital wallet that integrates directly with banks! If you’re not happy with numerous high-interest rates from other lenders in previous years, then consider switching over to Zelle today and cut out all the middlemen!
If you use PayPal Wallet as one of your preferred payment methods, then now’s a great time to upgrade to Zelle.
- Get money to people in under 5 minutes
- Transfer your funds with just one touch
- Zelle is supported by 23,000 banks and credit unions across the US
- Send more than $250,000 per day to your friends or family
Samsung Pay is a mobile payment service that you can use in lieu of cash and credit cards. This innovative solution actually utilizes both traditional magnetic stripe terminals and NFC-enabled terminals to make your life easier, no matter where you’re paying.
- Pay for purchases in stores (anywhere there is a terminal) with just your phone – even if it’s not NFC enabled!
- Just scan the card you want to use and tap “buy”
- Store all of your cards, membership passes, gift cards, and rewards programs in one place
- Get rewarded for using Samsung Pay: up to 2% cashback on transactions
Walmart is a large American retailer that sells practically everything. However, many of their customers are looking for a digital payment option that meets their needs. Walmart Pay may be just what they need. It helps to make payments faster and easier. When you are ready to pay, you scan your phone over a QR code that shows up on the checkout PIN pad.
Your credit card information (including your CVV code) is stored with Walmart Pay. Walmart uses several layers of security and continually monitors its system to stop hackers and fraudsters.
It’s easy to add credit cards or Walmart gift cards to your account. Unfortunately, you cannot use your bank account with this digital wallet.
Keep in mind that Walmart Pay can only be used at Walmart. It cannot be used at Walmart gas pumps or Sam’s Club.
Walmart Pay is available for iOS and Android users. This digital wallet will not charge you any fees.
- Walmart Pay has a simple interface.
- It is easy to pay with.
- It keeps your credit card number safe, unlike online shopping where all the information is sent out over the internet and can be accessed by hackers.
- You can add any gift card or credit card easily without contacting customer service.
Facebook Pay is a digital wallet that gives users the ability to pay people via Facebook, Messenger, Whatsapp, and Instagram.
Facebook prioritizes security by ensuring your payment information is not shared with buyers or sellers of goods; all data storage for transactions is separate from other account info on Facebook while being encrypted during transfer over an HTTPS connection. You need only have an account in order to use their service which can send money directly and charge debit/credit cards as well as PayPal accounts (you may be charged fees when using the marketplace). The best part? Face ID– instead of passwords!
- Get a digital wallet with your Facebook account
- Pay friends securely without entering personal information like passwords
- Check out at participating retailers with just one click and not using cash or a card
- Manage your finances efficiently and cost-effectively
Vodafone M-Pesa is a mobile payment system that can be used by iOS and Android users. The platform allows users to deposit money, withdraw funds, transfer money to other people, pay bills, and purchase mobile operator services.
Transaction fees for unregistered users range from 101-500 Kshs which equals $1-$5.
There are a lot of digital wallets out there for you to choose from, so it’s important that you do some research before making your decision. The best wallet is the one that suits your needs and will be easy to use. Don’t limit yourself by sticking with just one payment solution when many can work well for you. Try some of these solutions and see which ones work best for you!