Finding the best NFT wallets for your NFT investments is crucial for a successful business. But the exponential growth of the NFT world resulted in hundreds of wallet options on the market. With each one offering different perks, it may seem intimidating to settle on one choice. Below is our list of the 5 best NFT wallets and their features.
What is an NFT wallet?
An NFT wallet is a virtual wallet where you store your NFTs and cryptocurrency. This wallet must support the currency that you buy or sell an NFT with. As well as the blockchain that the NFT is built on. Unlike regular crypto wallets, NFT wallets display your NFTs and connect seamlessly with NFT marketplaces and dApps.
An NFT wallet doesn’t work like a physical wallet. You don’t actually store NFTs or cryptocurrency in your wallet. It actually provides access to your assets, which exist on the blockchain.
The 5 Best NFT Wallets:
Probably the most popular, with over 21 million active users. MetaMask is a cryptocurrency wallet that only supports Ethereum and other tokens on the Ethereum blockchain. It recently released an NFT portfolio tracker that helps you monitor all your NFTs in real time. Metamask also makes it easy to set up multiple addresses so you can hold your NFTs at a different address than your crypto’s. Or you can set up a single address for each NFT you purchase.
MetaMask has a currency swap feature and supported platforms. It is available as a mobile app that includes a built-in browser for dApps and NFT marketplaces.
As for security, MetaMask offers one of the highest security levels among competitors. The wallet generates passwords and keys on your device, meaning only you have access to your data. Also, these keys are encrypted along with your secret recovery phrase.
Trust wallet is owned by Binance and is a mobile-only wallet. Even though it supports several blockchains, its association with Binance makes it biased toward smart chain tokens. So if you’re into NFTs on the Binance smart chain, Trust Wallet may be for you.
Trust Wallet also includes a dApp browser and a currency swap feature.
But, in terms of security, this is not the best wallet. It only uses a 12-word keyphrase and passcode verification with or without Face ID or Touch ID. Also, the presence of many unverified tokens makes for another security concern.
If you are a frequent NFT trader and you trade on the go, give Trust Wallet a try.
AlphaWallet also made it to the list of best NFT wallets
AlphaWallet is an open-source Ethereum wallet available only as a mobile app on iOS and Android. AlphaWallet’s partnerships with Coinbase, Maker, Circle, and more, reinforced its credibility among users. It has a valuable ‘tagging’ feature that makes filtering your NFT collection easier.
Additionally, AlphaWallet is famous for supporting blockchain games and works directly with Cryptokitties, Dragonereum, Chainz Arena, and others.
As for security, this wallet utilizes the ‘Secure Enclave’ subsystem on mobile devices. This provides the highest level of protection that landed AlphaWallet on the list of best NFT wallets.
Coinbase is one of the oldest crypto wallets (since 2012). It only started integrating NFTs in 2021. It has a wide collection of resources that teaches users about NFTs, crypto, and Web3.
Coinbase may be the easiest wallet to use, thanks to its username feature. This feature allows users to send and receive tokens via usernames without the stress of wallet addresses.
Also, Coinbase offers a cloud backup for your private keys, to store them on your personal cloud drive.
ZenGo is an easy-to-use wallet perfect for newbies looking for a simpler way to go. Its beginner-friendly interface simplifies technical crypto and NFT terms. It also provides many resources on crypto and NFTs to enhance users’ knowledge.
If you prefer non-custodial wallets, you will love ZenGo for its multiparty computational feature. This feature stores your private keys in different places so you do not stay locked out of your wallet. For extra security, it has a web3 firewall that protects users from scammers or connecting to suspicious sites.
If you like instant payments, ZenGo might not be your preference. As it may take a while before you can withdraw cash after selling your NFT or Crypto.
Final verdict on the best NFT wallets
Finally, for any wallet to be the best NFT wallet, it must allow you to sign up in minutes and trade your NFTs without sharing your tokens with an external website or 3rd parties. It must also be user-friendly and never compromise on security. Lastly, any of the best NFT wallets should have premium and responsive support, since there’s always a ton of money at stake!