The exciting new world of Non-Fungible Tokens (NFTs) is one that has been generating lots interest from both investors and developers alike. NFT’s are unique digital assets whose uniqueness comes from each transaction being conclude by an individual blockchain address, making them truly personal property – just like any other item you might own!
But with their growing popularity comes the need for reliable and user-friendly NFT wallets to store them in. In order start buying or selling NFTs , you will need a crypto wallet to help start trading NFTs.
Although there is no special wallet created to store your NFTs because you can store them on your crypto wallet as conveniently as storing your cryptocurrency.
However, there are a few crypto wallets that are being used in volume by NFT traders who like to refer them as their NFT Wallet.
This NFT wallet is as same as your cryptocurrency wallet but this wallet must support the blockchain protocol that your NFTs are built on. And it must be compatible with the cryptocurrency you’ll use to purchase your NFTs, such as Ethereum, Bitcoin or Cardano, etc.
Since the majority of NFTs are built on the Ethereum blockchain, most Ethereum wallets should be compatible but some wallets are compatible with multiple cryptocurrencies.
In this article, we will be discussing five of the best NFT wallets available on the market today. These wallets are all user-friendly and have great features that will make it easy for you to store and manage your NFTs.
So without further ado, let’s get started!
5 Best NFT Wallets
There are a number of different types of NFT wallets available on the market today, each with its own unique set of features. Some of the most popular wallets include:
Metamask is one of the most popular NFT wallets out there, and for good reason. Not only is it easy to use, but it’s also highly secure, making it a great choice for anyone looking to store their NFTs.
It is a user-friendly browser extension wallet that allows you to manage your favorite NFTs in one place. It has a mobile app that gives access to a built-in browser for decentralized apps, as well as NFT marketplaces.
You can also set up several addresses in your Metamask wallet so you may keep your NFTs at a different address from your cryptos, or you can maintain a single address for each NFT you buy – its up to you.
This wallet offers support for different blockchain networks if you’re looking to buy NFTs from a marketplace built on that particular network.
With its wide compatibility, security features & extensive functionality it’s the perfect way for everyone to manage their digital assets. So if you’re looking for an NFT wallet that ticks all the boxes, look no further than Metamask.
Coinbase is best known for its cryptocurrency exchange. It also offers a non-custodial wallet that can be used to store NFTs and other tokens. Holding assets in the Coinbase Wallet gives users complete control over their crypto, as opposed to storing cryptocurrencies on the Coinbase Exchange.
In 2021, Coinbase launched a browser plugin to make purchasing NFTs and utilizing other dApps easier on multiple devices. The mobile wallet allows users to access dApps through the built-in browser.
One of the main benefits of Coinbase Wallet is that it allows you to send tokens to others without using public wallet addresses, making transactions more personal and secure. It might make transfers seem more personal and reassure you that you’re sending things to the right person.
Coinbase also has a one-click cloud backup feature that allows you to save your private keys on your personal cloud drive. This might assist guarantee that you don’t lose access to your NFTs or other assets stored in the wallet.
An open-source crypto wallet, AlphaWallet is a mobile-first and Ethereum-only platform. While it has a few drawbacks (it’s mobile-only and only supports Ethereum), its native support for blockchain games and NFTs distinguishes it.
It’s one of the most user-friendly wallets available and one of the most safest as it uses the Secure Enclave on your mobile devices to provide you with enhanced security.
It has a simple design that is easy for beginners to navigate. There’s a whole area in the wallet dedicated to NFTs and gaming tokens. It also enables users to apply meta tags to their tokens so they can be quickly searched and filtered when looking through their collection.
AlphaWallet is compatible with OpenSea, CryptoKitties, Dragonereum, and ChainZ Arena, among other NFT marketplaces and DeFi applications. It’s also got an integrated dApp browser to locate additional NFT marketplaces and direct access to DeFi applications like Compound.
With over 5 million users, Trust Wallet is growing popular as an NFT wallet. It’s a well-known mobile crypto wallet that’s ideal for NFT collectors. Users can discover a list of art marketplaces’ decentralized apps on Trust Wallet for easy one-click access to sites such as Axie Infinity, OpenSea, and others.
It can also assist users in keeping and managing their assets on the platform, even if Trust Wallet does not enable NFT transactions. Trust Wallet offers native integration with well-known public blockchains like Ethereum Classic and Binance Smart Chain.
One of the most appealing features of Trust Wallet is its one-click access to NFT applications and compatibility with multiple blockchain networks will make Trust Wallet, literally, one of the most trusted NFT wallets out there – probably in the near future.
Enjin is an interesting blockchain-based wallet which enables the collection of in-game NFTs as well as other collectibles.
The company has been around since 2009 and has been developing gaming software for over a decade. In 2018, they launched the Enjin Coin (ENJ), which is used to back the value of virtual goods on the Enjin network.
The Enjin Wallet is a multi-currency NFT wallet that allows you to store, manage, and trade your NFTs. The wallet also supports Ethereum, Bitcoin, Litecoin, and over 50 other ERC-20 tokens.
One of the unique features of the Enjin Wallet is its “Enjin Beam” QR code scanner, which allows you to instantly transfer NFTs between wallets by scanning a QR code.
The Enjin Wallet is available for Android and iOS devices, and it is also compatible with Ledger hardware wallets. Overall, the Enjin Wallet is a great option for storing and managing your NFTs.
Choosing the best NFT Wallet
The best NFT wallet for you will depend on your needs and preferences. If security is your main concern, then a hardware wallet like the Enjin would be a good choice.
However, if you need a wallet that is easy to use and has built-in exchange functionality, then a web-based wallet like the Trust Wallet would be a good choice.
And if you need a mobile wallet that is user-friendly and supports multiple currencies, then the Coinbase, MetaMask and AlphaWallet would be a good choice.
Once you have decided on the type of wallet you want, you will need to consider how and where you will be accessing your NFTs.
If you will be using them for online gaming or on different NFT marketplaces, then you will need to make sure that your wallet is compatible with those platforms.
For example, the MetaMask Wallet is compatible with Opensea, Rarible, SuperRare, etc. Trust wallet is compatible with NFTs on the Binance Smart Chains, and Coinbase is compatible with Opensea, Rarible, and Gotchiverse.
Learn more about NFT Marketplaces in our comprehensive guide where we compare 10 biggest NFT Marketplaces on 2022.
Also you should consider how easy it is to use your wallet and how user-friendly the interface is. The best wallets are those that are designed to be as user-friendly as possible so that even beginners can easily use them.
Risks associated with using NFT wallets
There are a few risks associated with using NFT wallets, but they are generally very minor. The biggest risk is that if you lose your private keys or password, then you will lose access to your NFTs.
And when you are using an online wallet, then your NFTs could be hacked if the website is not secure. This is why it is important to choose a reputable and well-established wallet provider, preferably a hardware or cold wallet.
Read more about these cold wallets as our experts rank and award Top 10 Hardware Wallets with exclusive blockgeeks awards!
Checkout our blockchain courses to learn about the technology behind NFTs and Crypto Wallets!
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