Which Desktop Wallet Is Most Secure for Long-Term Crypto Storage?

[GhostOfBitcoin]

I am looking for a desktop wallet to safely store crypto. It is worth mentioning that I do not currently have a hardware wallet. However, I know of hardware wallets like Ledger, Trezor and Tangem that are reliable and offer good security. But I am looking for the most secure software-based desktop wallet that I can safely use until 2028. I have already considered a few wallets, such as:

Electrum--> It is a Bitcoin-focused wallet, meaning its main focus is only on the security and stability of Bitcoin. It is completely open-source, so anyone can inspect its code. As far as I know, Electrum's source code is publicly available on GitHub and it has been released under the MIT License, which is why it is very trusted in the Bitcoin community.
The problem is that its UI is not very modern. So it may seem a bit complex and less user-friendly to beginner users.

Exodus--> has a very nice, simple and beginner-friendly User Interface (UI). It has Desktop + Mobile sync facility, multi-coin support and built-in swap feature.
The problem is that it is a closed-source wallet. So the user has to trust the wallet developer a bit. Also, the built-in exchange/swap feature uses a third-party service.

Guarda--> has a beginner-friendly User Interface (UI), is a multi-crypto wallet, and has a staking feature. It also supports mobile, desktop, and web, and has a built-in swap feature. It is a non-custodial wallet, meaning the user has control over the private keys.
The problem is that it is not fully open-source some parts are still proprietary/closed-source. Also, the built-in swap feature uses a third-party provider.


My main priorities:

1. My biggest priority is wallet security. The source code should be public, and the wallet’s private keys and data must be protected with strong encryption. It should also be trusted for many years.

2. I want to use the wallet on desktop platforms (Windows, macOS, or Linux).

3. Good community reputation and easy backup & recovery.

[Z-tight]

I am looking for a desktop wallet to safely store crypto.

Crypto? So we are talking multiple coins here and not just one. It is important to clarify this point, so as to get good recommendations.

But I am looking for the most secure software-based desktop wallet that I can safely use until 2028.

Until 2028? That is two years from now, i guess we can consider that medium-term storage. I don't know how much in crypto you want to store, but take note that anything online is prone to hacking, so if it is a large amount in crypto, then you have to store your funds in cold storage if you want it to be 'safe'. It is also worth mentioning that safety goes beyond just the wallet in use, your opsec also plays a very important role in securing your funds.

However, as for the options you have listed, i can only recommend Electrum, if it is only BTC you want to store. But since you mentioned crypto, i guess you have a few other coins, and you said you are not ready to get a hardware wallet, then Unstoppable wallet and Cake wallet are good options for a multicoin wallet. Though i would advise that you keep your BTC in a BTC wallet and let altcoins stay in the multicoin wallet.

Finally, if you are going to keep a large amount of BTC, best practice is to set up your Electrum in an airgapped device, so the keys stay permanently offline.

[ABCbits]

2. I want to use the wallet on desktop platforms (Windows, macOS, or Linux).

If you can decide which OS you're going to use to store/manage your crypto, people could give more specific suggestion/advice.

Finally, if you are going to keep a large amount of BTC, best practice is to set up your Electrum in an airgapped device, so the keys stay permanently offline.

I agree it's best choice if OP only want to store Bitcoin. But Sparrow Wallet is also good option, despite only exist since 2020. Bitcoin Core technically meet OP's criteria, but you need to download whole blockchain and store partial/whole blockchain.

[satscraper]

My biggest priority is wallet security. The source code should be public, and the wallet’s private keys and data must be protected with strong encryption. It should also be trusted for many years.

Your criteria are reasonable, and in my view Bitcoin Core fully meets them, because it is the reference wallet  meaning its code has been scrutinized in all its bearings by countless security experts. I doubt that anything comparable has ever been done for any other desktop wallet available today.

BTW, if you have the spare machine that has never touched  internet, you might want to set up Bitcoin Core as a cold wallet to increase security. The most advanced setup with Bitcoin Core would be Jeti Level 3, but it’s suitable only for extremely savvy users.

[GhostOfBitcoin]

I am looking for a desktop wallet to safely store crypto.

Crypto? So we are talking multiple coins here and not just one. It is important to clarify this point, so as to get good recommendations.

Yes, I am looking for a desktop wallet not only for Bitcoin, but also for securely storing some altcoins for the long term.

Until 2028? That is two years from now, i guess we can consider that medium-term storage. I don't know how much in crypto you want to store,

Yes, you can consider it as a middle-term storage. For my own safety and privacy, I did not mention the amount of crypto. But if you want to know, you can assume it is around $3000 worth of crypto.

store your funds in cold storage if you want it to be 'safe'.

Cold storage feels a bit confusing to me because I prefer a convenient and user-friendly interface (UI), and the whole process seems somewhat complicated. There is also a risk of permanently losing funds if the seed phrase is lost. Things like seed backup, passphrase management, and firmware verification seem a bit difficult for me.

Sometimes I may trade or make transactions many times a day, so cold storage feels slow to use because it requires extra steps like connecting the device and confirming transactions.

I understand that cold storage is safer from online hacking. The seed phrase (recovery seed/private key) can be kept offline, which reduces the risk of cloud leaks, and the chance of phishing attacks is also lower.

However, as for the options you have listed, i can only recommend Electrum, if it is only BTC you want to store. But since you mentioned crypto, i guess you have a few other coins, and you said you are not ready to get a hardware wallet, then Unstoppable wallet and Cake wallet are good options for a multicoin wallet. Though i would advise that you keep your BTC in a BTC wallet and let altcoins stay in the multicoin wallet.

Finally, if you are going to keep a large amount of BTC, best practice is to set up your Electrum in an airgapped device, so the keys stay permanently offline.

I support Electrum more, but the problem is that I cannot store altcoins there besides Bitcoin. I want a wallet where I can securely store Bitcoin along with other altcoins/crypto.

I also liked Unstoppable Wallet, but the user interface feels a bit complicated to me. On the other hand, Cake Wallet supports only a limited number of coins.

If you can decide which OS you're going to use to store/manage your crypto, people could give more specific suggestion/advice.

Sorry for not mentioning it specifically, @ABCbits. I will use the Linux operating system for storing my crypto.

[Z-tight]

There is also a risk of permanently losing funds if the seed phrase is lost. Things like seed backup, passphrase management,

You'd lose your funds in any self-custodial wallet if you lose the seed phrase. And even if you decide to go with a hot wallet like you are suggesting, you'd still have to back up your seed phrase, won't you. It is up to you though if you want to have an additional layer of security like a passphrase. But these things you mentioned are basic things that'd happen and you'd do if you used any wallet (hot or cold).

I support Electrum more, but the problem is that I cannot store altcoins there besides Bitcoin. I want a wallet where I can securely store Bitcoin along with other altcoins/crypto. I also liked Unstoppable Wallet, but the user interface feels a bit complicated to me. On the other hand, Cake Wallet supports only a limited number of coins.

If that is the case, then it becomes harder to recommend a wallet for you, because you have also mentioned that you do not want to get a hardware wallet yet, Trezor would have been a good choice. I'm never recommending Trust Wallet to anyone, but some may say that fits your criteria right now, up to you if you wanna use that crap (through a browser extension on your desktop).

[rdluffy]

...
Yes, you can consider it as a middle-term storage. For my own safety and privacy, I did not mention the amount of crypto. But if you want to know, you can assume it is around $3000 worth of crypto.
...

I know you don’t want a hardware wallet, but for an amount around that, I would actually recommend a hardware wallet
A Trezor Safe 3 for $59 would be a good wallet for storing roughly that amount
https://trezor.io/trezor-safe-3

But anyway, if you really don’t want one, I’d split it between two wallets:

Electrum + some multi-coin wallet

You can generate an Electrum wallet offline, using Linux installed on a USB drive, for example, and have a cold wallet
Just a suggestion, —see what makes the most sense for you

[GhostOfBitcoin]

You'd lose your funds in any self-custodial wallet if you lose the seed phrase.

Yes, you are right. I think the main foundation of any self-custodial wallet system is "my keys, my coins." Many of us think that the seed phrase directly accesses the funds, but in reality, the seed phrase (BIP-39) is only a human-readable representation of thousands of private keys. We must accept that, whether it is a hot wallet or a cold wallet, recovery of funds is impossible without a proper backup.

have an additional layer of security like a passphrase.

I do not see a passphrase as just an extra layer of security; I see it as something that ensures plausible deniability. Even though it is optional for everyone, I think it should almost be considered mandatory for security purposes. Because even if someone gets my original 12/24-word seed phrase, they still will never be able to access my main funds without the correct passphrase.

I'm never recommending Trust Wallet to anyone

At this moment, even if Trust Wallet meets all of my requirements, I would still place it at the bottom of my favorite list. However, thank you for suggesting Unstoppable Wallet and Cake Wallet as good alternatives.

Electrum + some multi-coin wallet

This is a good suggestion, friend. I am planning to make a decision where I can securely store my assets in three different places. I plan to keep 50% of my assets in Electrum, 30% in a multi-coin wallet, and 20% on an exchange.

Based on your opinions and advice, I am now moving toward the decision of buying a hardware wallet.