Best Wallet

Is Best Wallet safe?

We found no reported hack or loss caused by Best Wallet, but there is very little about it that an outsider can check, and two European regulators have warned that it is not authorised. Best Wallet is a mobile wallet without a seed phraseSeed phraseA list of 12 to 24 words that can restore a crypto wallet and all its funds. Anyone who has it controls the wallet.More in the glossary, advertised heavily and tied to its own BEST token. We score it 50/100, a D, with low confidence.

That is not a finding that Best Wallet has lost anyone's money. It reflects closed code, an undocumented key model, unclear ownership and regulator warnings, which together mean you are trusting a company you cannot easily identify.

How does Best Wallet hold your keys?

Best Wallet's website says the wallet is "powered by Fireblocks", the institutional custody technology firm, and that funds are protected with "MPCMPC walletA crypto wallet that splits the private key into several shares held in different places, so no single device or company holds the whole key.More in the glossary key-share technology", encrypted cloud backups and biometric login. There is no seed phraseSeed phraseA list of 12 to 24 words that can restore a crypto wallet and all its funds. Anyone who has it controls the wallet.More in the glossary; if you lose your phone, you recover through your Google or Apple account.

Fireblocks' public documentation for its embedded wallet product describes how such a setup generally works: a key share is created on your device, an encrypted copy is stored on Fireblocks' servers, and the passphrase that unlocks it is kept somewhere the app chooses, such as your iCloud. What Best Wallet does not say is who holds the other share or shares, whether it or Fireblocks can stop a transaction, and how you could export a full key if the service closed. Its terms do not help: they describe receiving "a private key" when you create a wallet and refer to a "Secret Phrase", which reads like text written for an ordinary seed wallet.

Compare that with Simple, another MPC wallet, which documents an in-app private key export, or Zengo, which publishes an escrow plan for its own failure. Without any documented exit, our rubric puts key management below 50, and we score it 40.

Who is behind Best Wallet?

Best Wallet uses at least three company names. Its terms and privacy policy name Best Wallet LTD, registered in the British Virgin Islands (company number 2206793). The Android app is published on Google Play by BEST WALLET EOOD, EOOD being a Bulgarian company form, and the iPhone app by Best Web3, Inc. Best Wallet does not explain how these are related, and we could not find named executives or audited accounts.

Two regulators have issued warnings:

• UK FCA, 13 March 2025. The FCA added Best Wallet, bestwallet.com and bestwallettoken.com to its warning list, stating "this firm is not authorised by us and may be targeting people in the UK" and that it may be providing or promoting financial services without permission.
• Spain's CNMV, 8 September 2025. The CNMV warned that bestwallettoken.com, "Best Wallet Token" and the app of BEST WALLET EOOD are not authorised to provide the crypto-asset services that need prior authorisation under the EU's MiCAMiCAThe EU's Markets in Crypto-Assets Regulation, which requires crypto exchanges and other providers to be licensed and supervised.More in the glossary regulation.

Neither warning says users have lost money. They mean the firm has no permission to offer regulated services in those countries, so you would have no regulator to turn to there.

What about the BEST token?

Best Wallet sells its own BEST token through bestwallettoken.com, a domain registered in October 2024, and its terms describe BEST as the app's native token. We do not rate tokens and give no view on buying one. For wallet safety, what matters is that the token promotion is what both regulator warnings name, and that a wallet heavily marketed around its own token gives its operator a reason to steer users towards one asset.

Audits, code and scam protection

The code is closed. The Best Wallet homepage shows an "Audited by" badge with the CertiK logo, and CertiK's Skynet page lists two engagements, an audit and a penetration test, requested in February 2025 and last delivered on 1 July 2025. We could not confirm whether they covered the wallet app, its backend or only the token contract, and Best Wallet does not publish the reports itself. We found no bug bounty. Transparency scores 35.

On scam protection, the site promises protection "from online threats and phishing attacks" and offers two-factor authenticationTwo-factor authenticationSigning in with a second proof of identity on top of your password, such as a code from an app, a security key or a passkey.More in the glossary and an address book. We found no description of transaction simulation, risky-approval warnings or malicious-address checks, so it scores 45. On Google Play, the listing says the app contains ads.

How to stay safe with Best Wallet

1. Keep only a small amount in it. For savings, use a wallet whose keys you can export, or a hardware wallet.
2. Secure the Google or Apple account that holds your backup with a strong password and two-factor authenticationTwo-factor authenticationSigning in with a second proof of identity on top of your password, such as a code from an app, a security key or a passkey.More in the glossary.
3. Install only from the official store links and check the developer name; impersonation apps are common for heavily advertised brands.
4. Treat any message urging you to buy a token before a deadline as marketing, not security advice.
5. If you leave, send your coins to a new wallet you control rather than waiting for an export feature.

How we scored it

The security record (75) is Best Wallet's strongest factor, since we found no reported losses, but with under 3 years of wide use it could not score above 80. The company record (25) is the weakest, with three operator names and warnings from the FCA and CNMV, followed by transparency (35) and key management (40), where closed code and no documented export leave you dependent on a company you cannot verify. Atomic Wallet scores lower because of its large unexplained hack.