Coinbase’s latest legal troubles over biometric data collection have reignited concerns over user privacy. As confidence in centralised platforms weakens, decentralised tools like Best Wallet are emerging as a leading contender for the best crypto investment in 2025.
Coinbase is facing a class-action lawsuit filed by Illinois residents who allege that the crypto exchange violated the state’s Biometric Information Privacy Act (BIPA). The lawsuit claims that users were asked to upload a selfie and government ID during the signup process, but their facial geometry was then scanned and analysed by third-party vendors – without their explicit consent.
The plaintiffs argue that Coinbase not only collected biometric data without proper notice, but also shared this sensitive information with outside parties such as Jumio, Onfido, Au10tix, and Solaris. With over 10,000 users allegedly impacted, the group is seeking damages ranging from $1,000 to $5,000 per violation, plus legal costs.
This is not Coinbase’s first brush with privacy controversies. In May 2023, similar legal action was taken regarding the platform’s use of facial recognition. More recently, the company suffered a data breach involving bribed customer support agents, leading to multiple class-action lawsuits and accusations of lax security practices.
A Privacy Time Bomb and Growing Market Distrust
Nanak Nihal Khalsa, co-founder of Holonym – a privacy-focused identity project – said the Coinbase case underscores the broader dangers of storing personal data. “The Coinbase breach proves what we’ve known all along,” he said. “KYC without zero knowledge is a privacy time bomb. You can’t warehouse millions of identities without becoming a target.”
Khalsa’s critique cuts to the heart of the issue: as centralised platforms grow, so does the risk they pose. With growing consumer awareness around data privacy, many are now turning to self-custodial crypto wallet solutions as safer alternatives. For investors looking for the best crypto investment this year, tools that combine user control with functionality are gaining traction.
Best Wallet Emerges as a User-Controlled Alternative
Enter Best Wallet – a non-custodial, multi-chain wallet that has rapidly drawn attention amid Coinbase’s privacy scandal. Designed to give users full control over their assets without sacrificing convenience, the wallet supports over 60 blockchains and offers trading, staking, and NFT management all in one app.
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Unlike centralised platforms, Best Wallet does not require users to submit personal information to get started. No KYC means no biometric data to store, leak, or misuse. That appeal is translating to real traction: the project recently surpassed $12 million in presale funding, with users flocking to buy the native BEST token before it lists on exchanges.
Why Analysts Are Bullish on Best Wallet
The platform is more than a digital vault. Best Wallet integrates a decentralised exchange aggregator to let users swap tokens at the best market rate without needing to leave the app. A built-in token presale hub called “Upcoming Tokens” gives users early access to new project launches, some of which are unavailable through other platforms.
Security features include two-factor and biometric logins, dApp blocklists, and token-approval alerts. This reassures investors who may be wary about the security of online platforms after the Coinbase data breaches.
The native BEST token ties everything together. Holding BEST unlocks reduced fees, early presale access, and staking yields currently estimated at over 120% annually. This utility, combined with the wallet’s growth and security-first design, is what has led analysts like Austin Hilton to call Best Wallet the “best crypto wallet” available today.
Competitive Landscape and the Road Ahead
While Best Wallet is still new, it’s already being compared with heavyweights like MetaMask, Trust Wallet, and OKX. MetaMask users often find themselves restricted to Ethereum-based assets unless they manually add other chains. In contrast, Best Wallet is built for a multi-chain future, integrating Bitcoin, Solana, Ethereum, and more from the ground up.
Trust Wallet supports a broad range of tokens but lacks the presale perks or token utility of BEST. OKX and Bitget, while powerful, are tied to centralised ecosystems and do not offer the same degree of asset control or privacy.
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Best Wallet doesn’t yet offer a desktop extension, but one is reportedly in the works. More notably, the upcoming “Best Card” – a crypto debit card – promises to allow users to spend digital assets directly from their wallet, without involving banks or exchanges.
From Privacy Risk to Decentralised Security
The legal crisis facing Coinbase has highlighted the fragility of relying on centralised services for financial freedom. As regulatory scrutiny intensifies and privacy concerns mount, wallets like Best Wallet that offer decentralised alternatives with enhanced security are becoming the go-to for retail investors and crypto-native teams alike.
Whether Best Wallet becomes the dominant player in the space remains to be seen, but one thing is clear: in a year where data protection is becoming just as important as profit margins, wallets that combine ease of use, decentralisation, and strong tokenomics are top of mind. For many, Best Wallet now ranks among the best crypto investments in 2025.
