Discover the Top 5 NFT Wallets for Easy and Safe Transactions
In the budding era of cryptocurrency, NFTs are grabbing the attention of everyone. The tokens which cannot be exchanged within each other and hold a unique value are non-fungible tokens. In simple words, NFTs are digital representations of art and unique collectibles. These NFTs are mostly created in the Ethereum blockchain with ERC721 or ERC1155 token standards. In that sense, the first-ever NFT ‘Quantum’ was designed and tokenized in the Ethereum blockchain by Kevin Mckoy in 2014.
Recently, Bored Ape Yacht Club NFT is a popular art collectible that had sold around 2090 ETH which is $3408,000. Not only art or collectibles but popular tweets can also be converted to NFTs and are sold at high rates. Before creating, purchasing, or selling an NFT, an individual needs a wallet to store them in a secure way. NFT wallets is a software that stores newly purchased NFTs and gives access to private and public keys. NFT wallets provide users with unique features and security.
So, In this blog, I will explain the importance of using an NFT wallet, the best NFT wallet and the major things to be considered before choosing the best NFT wallet in detail.
Shall we dive into the topic…
Importance of Using an NFT Wallets
In both custodial and non-custodial wallets, the NFTs can be stored. As a crypto user, if you trust a centralized authority, you can store your cryptocurrencies & NFTs in a custodial wallet. For example, if you have an account on the binance NFT marketplace, you can store your NFTs in the binance chain wallet. In non-custodial, the private and public keys of the wallets are managed by the users themselves.
Without an NFT wallet, an individual cannot proceed with the transaction. They are very important for users to hold their NFTs securely. Security features like facial recognition, 2FA authentication, and biometry are available in the wallets. Wallets play a vital role in protecting NFTs from theft or hacks.
These wallets are easily accessible and compatible with NFT marketplaces like Opensea, Rarible, and others. Wallets give access to store cross-chain blockchain NFTs. And additionally, these wallets can be accessed on various devices like mobile or computer at a time. Hence, they are very important for securely storing your NFTs.
As more NFTs are created and sold, the demand for a new wallet for storing NFTs is increasing among investors. Currently, many wallets are there in the crypto market to store non-fungible tokens securely. Among those, let’s see about the top 5 NFT wallets and their unique features.
Best Crypto Wallet for NFT
The best crypto wallet for NFT provides users with unique security features for storing digital assets. After the boom of NFTs, many startups developed NFT-compatible wallets. The top 5 best NFT wallets and their features are listed below in detail.
- Metamask
Metamask, the self-custodial wallet that was introduced in 2016 presently holds 10 million users. It is an Ethereum-based wallet that supports more than 7 blockchain networks. Metamask Wallet can be accessed as a mobile app or as a browser extension. Metamask is compatible with connecting decentralized exchanges and all other NFT marketplaces.
One of the unique features of Metamask is, the NFTs stored in the wallet can be given different addresses. By giving a different address for each NFT, it is easier for users to manage them in a hassle-free manner.
2. Trust Wallet
Trust wallet is one of the non-custodial wallets that supports 50 blockchains including Ethereum and binance. This wallet allows users to send, receive and manage cryptocurrencies. It is free to use, user-friendly, and easy to navigate. Since it has been regarded as the best NFT wallet, it is used by 25+ million people. Trust Wallet is available both as a browser extension and a mobile app.
The mobile app of trust wallet can be used by both Android and IOS users. Trust Wallet provides its users with a unique program named ‘Earn Interest’. Through this, users can get interested by staking their cryptocurrencies.
3. Coinbase Wallet
Coinbase offers a self-custodial wallet that is compatible to store NFTs. With this wallet, users are not expected to provide public addresses; rather users can provide their usernames for transferring the cryptocurrencies. Coinbase wallet is one of the most trusted wallets of many crypto users. In 2021, it offered the browser extension of its wallet.
Coinbase Wallets provide robust security features, a user-friendly interface, and support a wide range of blockchains. Strong security features like facial recognition are available for users.
4.Maths Wallet
Math Wallet is a one of the popular universal crypto wallet that supports 70+ blockchains. It provides rewards for staking cryptocurrencies. Maths wallet is considered the alternative to the Metamask wallet which provides high-security features. It is a renowned wallet that has a dApp browser that enables users to view NFT marketplaces for buying and selling NFTs seamlessly. It provides users with different wallet addresses to store the NFTs separately.
5.Alpha Wallet
The alpha wallet is an open-sourced wallet that has been built on the Ethereum blockchain. Alpha Wallet has a separate section that has details about NFTs and gaming tokens. The wallet securely stores the NFTs and it is user-friendly. With the alpha wallet, users can access various NFT marketplaces and Defi platforms. This Ethereum based alpha wallet uses ‘secure enclave’ technology where the NFTs can be stored offline. The alpha wallet is only available as a mobile app.
These are the top 5 best NFT wallets prevailing in the crypto ecosystem. Like these wallets, many other best crypto wallets for NFTs are there with robust security and enriched features. If you tend to use a wallet, you must consider some important things before selecting the best NFT wallet. Let’s see about that in detail.
Factors to Consider Before Choosing the Best NFT Wallet
Before choosing the best crypto wallet for NFT, you must consider some important factors. The important factors are listed below,
- Decentralized and Easy to Use
The wallet that you choose to store NFT must be decentralized. In that sense, it is better to choose a non-custodial wallet to store NFTs. If you are a crypto beginner, choose a wallet that has an easy signup option, a separate section for NFTs, and quick accessibility. The wallets must have an easy UI that enables users to easily understand the working process and navigation.
- Security
The key important thing that should be noted while selecting the best NFT wallet is analyzing the security features of the wallet. Select a wallet for NFT that provides facial recognition, 2FA authentication, and biometric features. As high as security features, there will be fewer chances for hacking or theft.
- Low Deposit / Withdrawal Fees
There is a wide range of best crypto wallets for NFT in the crypto market. Each wallet has its own deposit and withdrawal fees to transfer the cryptocurrencies. Some NFT wallets offer low fees for depositing and withdrawing purposes. So, choose wisely!
- Compatibility
The best Wallet for NFT must be compatible with more NFT marketplaces. Through this feature, users can buy or sell their NFTs in various marketplaces. And, wallets must be cross-compatible with various blockchains for minting, selling, and buying NFTs.
- Multiple Device Support
The wallet should be easy to access on one or two devices at the same time. The wallet that is available on desktop, mobile, or as a browser extension is more helpful for users to synchronize digital assets.
The above-mentioned features are to be considered before choosing a wallet for storing your NFTs. As the demand for secured wallets is increasing, startups and entrepreneurs started to develop their own NFT wallets for the crypto business. Many new wallets are developed with robust features as per the business needs of the startups.
Conclusion
I hope you have got a clear idea about the top 5 best NFT wallets. In recent years, many startups are developing NFT wallets as a crypto business for building their own ecosystem and revenue generation. As an aspiring startup, you can also create NFT wallet as per your desired business needs. These NFT wallets can be created with the help of a Crypto Wallet Development Company. The wallet development company will help you to customize your wallet with many advanced features, security factors, etc. You can create an NFT wallet at an affordable cost as per your crypto business need and requirement. Hence, choose a renowned NFT Wallet Development Company to develop your best NFT wallet and succeed in your crypto business!
