Much has been said and written about the rise of non-fungible tokens (NFT) and how they will revolutionize the market for collectors and artists. However, an NFT wallet app is a must-have tool to participate in this fast-growing niche.
Currently, there are quite a few options on the market and not all of them offer the same functionalities. This article reviews the Top NFT wallets and apps to help readers learn about the pros and cons associated with each.
First, however, there are a few features you should look for when choosing an best NFT wallet.
What should you look for in an NFT wallet?
User-friendly interface
The idea of best NFTs is already complicated for beginners, and the last thing you need is an application that makes things even more complicated for you. Therefore, it helps to choose an application that is easy to set up and use.
Being at an early stage means that the industry does not yet have a complete wallet for beginners. However, some of the few options available can boast that they are ideal for someone just starting to collect NFT.
Multi-device support
Most NFT applications are available as web extensions or as mobile or desktop applications. Some like Metamask are available on both devices and can synchronize transactions in real-time, making them ideal for someone who wants to manage their tokens on multiple devices.
Cross-chain compatibility
Ethereum’s popularity and large developer base make it the largest blockchain for NFT users. Therefore, it’s not surprising that most wallet supports Ethereum-based tokens.
However, if you want to mint, buy and sell NFTs on other networks as well, then you need a wallet that offers cross-chain compatibility, or at least supports the blockchain network you want to use.
How to store NFTs on a hardware wallet
How to store NFTs on a hardware wallet
Connect your Trezor to a third-party interface like MetaMask to secure and manage crypto NFTs on Ethereum. A can trezor hold NFTs wallet secures and manages NFTs using Metamask and other third-party interfaces.
Non-fungible tokens (NFTs) are a form of cryptocurrency with specific metadata that differentiates every single coin or token. They are not interchangeable for other currencies, even on the same network or in the same ‘collection’; hence being non-fungible, as fungible means that one coin can be replaced by any other.
With some NFTs becoming extremely sought-after, robust security becomes more critical. Trezor hardware wallets are designed to store cryptocurrency of various types. We can use your Trezor to store and secure NFTs as long as they exist on a network already supported in device firmware, such as Ethereum.
While your Trezor hardware wallet can secure NFTs, one can not do it in Trezor Suite. To manage NFTs securely, one should use a third-party interface like MetaMask. This is safe if you correctly set up MetaMask to communicate directly with your Trezor so your seed remains offline.
Top 6 Wallets to Get Started Collecting NFTs
Trezor – best crypto wallet for NFT
From all crypto wallets for NFT Trezor is a strong leader. The Trezor hardware wallet leads in personal security, cryptocurrency and NFT protection. Trezor’s newest wallet model T is the best crypto wallet for NFT with the best security there is to offer, an cheaper alternative an overall second best crypto wallet for NFT is Trezor model One wallet.
Invented by the Slovak company SatoshiLabs, Trezor wallets allow individuals to securely store their cryptocurrency and NFT investments offline.
Unlike software or paper wallets, Trezors offer an extra layer of security to ensure that your funds are safe in the event of loss, theft, or other malicious attacks. The trezor supports more than 500 different cryptocurrencies and is designed with ease of use and convenience in mind, allowing users to check their balances, track transactions, and move funds with just a few clicks.
For added security Trezor also protects individual accounts with passwords of distinct parts as well as two-factor authentication. With Trezor you can be sure that your digital assets are safe and secure from any potential hacking attempts or unexpected transaction problems.
Pros
- Trezor hardware wallets are cold wallets
- Highest security
- Trezor hardware wallets are portable and convenient
- Ability to route trough Tor browser for increased annonnimity
- Supports well over 1000 cryptocurrencies
- Easy to set up and use
Cons
- No phone app
- Physical device quality worse than you might expect
Trezor model T – Best crypto wallet for NFT – 264.99 USD
Metamask
Maintained by ConsenSys, and backed by the Ethereum Foundation, Metamask is inarguably the best overall NFT wallet for creators and collectors.
Initially, it only existed as a browser extension that allows users to connect directly to decentralized applications (dApps) such as those powering NFTs. In 2020, however, ConsenSys launched the mobile version of Metamask, which offers a simpler interface for collecting NFT tokens and interacting with other dApps.
Using Metamask, you can create an Ethereum wallet to connect directly to all Ethereum-based platforms to mint and trade these tokens.
Pros
- Metamask is relatively easy to set up for anyone with a basic understanding of cryptocurrencies.
- Transactions are synchronized on both the mobile apps and the web extension.
- Users can easily create and switch between multiple ETH addresses they own.
- The mobile version of Metamask has a built-in browser for browsing both NFTs and Defi apps.
- The mobile app also supports the direct transfer of ERC-721 tokens from one address to another.
- Metamask offers native support for direct exchanges between Ethereum and other ERC-20 tokens.
- Optimized and advanced tariff customization allows users to set gas tariffs that match network activity.
Cons
- Metamask is primarily compatible with Ethereum and other EVM-compatible blockchains.
- There are also concerns about the wallet sharing identifiable information with data collection networks.
Enjin
Enjin is another cool blockchain wallet for collecting in-game NFTs and other collectibles. In addition to offering one of the best option for storing cryptocurrencies and tokens, the Enjin wallet includes a marketplace for trading these digital assets using ENJ, the project’s native token.
Enjin offers a one-click browser to access many Ethereum-based dApps, such as those used for decentralized finance (Defi). The project is also in the process of integration to appear on Samsung S10 devices as a built-in blockchain wallet for users.
Pros
- Enjin’s blockchain wallet offers one of the best user interfaces for NFT cashing.
- The app includes a marketplace for trading in-game NFTs and other digital collectibles.
- Users can also easily convert one cryptocurrency into another through a built-in exchange function.
- Enjin maintains customer service, unlike other wallet providers.
- The app also has advanced security features, such as biometrics and automatic locking.
Cons
- Enjin wallet is only available on mobile.
- The app only supports Ethereum-based NFTs and assets.
Math Wallet
Math Wallet calls itself “your gateway to the blockchain world” and is backed by industry-leading incubators such as Binance Labs and Alameda Research. It represents another excellent option for creators and collectors looking for an alternative to Metamask.
Includes native integration and support for 65 public blockchains, allowing users to manage their assets across these networks seamlessly. It is also available on mobile, as a web browser extension, and as a wallet for standalone blockchain networks.
Pros
- Native support for multiple blockchains.
- Cross-device compatibility and synchronization.
- MathWallet features a one-click dApps store for accessing NFT and Defi Apps.
- The app includes an exchange function for exchanging cryptocurrencies.
- Hardware wallets devices such as Ledger include a Math Wallet integration, ensuring greater security of stored NFT assets.
Cons
- iOS users report having issues with the staking of the dApp.
- It is still under active development. Therefore, users may encounter bugs, especially in the mobile versions.
Trust Wallet
Trust Wallet is another popular mobile wallet option for NFT collectors and boasts over 5 million users.
The app features a list of dApp for art NFT marketplaces, allowing users one-click access to sites like OpenSea, MyCrypto Heroes, Axie Infinity, etc. Although Trust Wallet does not support NFT transfer, users can store and manage their assets in the app.
Trust Wallet app includes native integration for public blockchains such as Binance Smart Chain, Ethereum Classic, TomoChain, ThunderToken, GoChain, and Calisto.
Pros
- Trust Wallet has a fairly user-friendly interface.
- Trust Wallet offers one-click access to NFT applications.
- Support for multiple blockchains allows for more options.
- Trust Wallet has a built-in cryptocurrency exchange function.
- It can also function as a cryptocurrency wallet and DeFi.
Cons
- The app is only available on mobile.
- Trust Wallet’s affiliation with Binance means it promotes Binance-based products ahead of its close competitor, Ethereum.
AlphaWallet
AlphaWallet is an open-source Ethereum blockchain wallet that includes a feature to mint and collects NFTs.
Directly supported applications include OpenSea, CryptoKitties, Dragonereum, Chainz Arena, etc. The app also supports all Ethereum-based assets in the game, making it ideal for collectors.
Although AlphaWallet is only available on mobile, the website offers extensive open-source tools for developers, art creators, and companies looking at other forms of blockchain-based tokenization.
Pros
- AlphaWallet offers native support for all Ethereum-based tokens and tokens.
- The app includes a built-in web browser3 for browsing other dApps and Defi apps.
- The interface is easy to use and ideal for those just getting started with Ethereum and NFTs.
- AlphaWallet is still under active development and can easily integrate new features to meet community demand.
Cons
- AlphaWallet only supports Ethereum apps and sidechains.
- The app is only available on mobile.
How to Choose the Best Wallets for NFT
Choosing the best crypto wallets for NFT applications depends on two factors: whether you are a creator or a collector. Second, on the devices you have at your disposal.
For creators
Creating NFT art usually involves regularly connecting to NFT marketplaces like OpenSea, Rarible, Makers Place, etc.
Creators usually have to upload their files and enable other functionality. These operations require the use of a desktop device or computer and are often difficult to execute on mobile.
Therefore, creators are better off using MetaMask or Math Wallet, as both of these wallets are available as browser extensions).
For collectors
Whether you only collect NFTs from blockchain-based games or artists, you can easily execute these transactions on mobile wallets that support the storage and transfer of these items.
Thus, the mobile version of Metamask, Enjin, AlphaWallet, and Trust Wallet is ideal for these types of transactions.
How to get the Best NFT wallet?
This article includes a link to the official website where users can install the aforementioned best NFT wallet-compatible devices.
The said wallets are self-custodied and will usually provide you with a backup seed phase during the initial setup. You can restore your wallet and its assets with the seed phrase if you eventually lose access to your device.
Note that you will need to purchase the native Ethereum (ETH) token from an exchange or broker and transfer it to the token wallet after setup. For other chains, such as Binance Smart Chain, you must purchase a Binance coin (BNB) and send it to the wallet address.
The amount purchased is used to pay transaction fees for collecting or minting NFT.
How to keep your collectible cryptocurrencies safe?
Collectible cryptocurrencies can have a much higher potential value in the future or hold important memories for the collector. To keep these digital assets safe, keep the following tips in mind:
- Only download NFT apps and wallets from official websites and app stores.
- Back up your initial passphrase to a secure offline location and do not enter it on any website after initial setup.
- Always bookmark the NFT applications you visit in your browser to avoid falling victim to phishing websites.
- If you use a wallet offered as a browser extension, always remember to lock or log out before shutting down your computer.
- Do not use public computers to use NFTs. If you must, be sure to delete all your data before logging out.
- We also recommend you check our guide on how to avoid NFT scams.
Conclusion
As a fairly new industry, existing NFT wallets applications are far from finished products and could be much improved. However, a handful of the available options offer advanced features that can serve both creators and collectors.
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This article reviewed six of the best NFT wallets and provided guidance that can help each category of NFT participants choose the one that suits their transactions. It also offered tips for keeping your cryptocurrencies safe as the world watches how far the NFT industry can go.
The best crypto wallet for NFT is Trezor model T
