NFT wallets are one of the most integral parts of the investment process as they help in storing your NFTs and cryptocurrencies. They allow a seamless management process and have been designed to keep your tokens safe from hackers and other negative impacts of the internet.
The explosion of the NFT industry has resulted in the availability of hundreds of wallets, each with unique features and tools.
NFTs are on the rise and they are playing a vital part in revolutionizing many industries like art and gaming. However, in order to be an expert NFT trader, you need to have a thorough knowledge of NFT wallets since you’ll be needing these tools to store your cryptocurrencies and tokens.
The sudden increase in the non-fungible token (NFT) purchases led developers to come up with new features in NFT wallets after purchasing or minting an NFT. The wallets store your asset location on the blockchain.
Before choosing an NFT wallet make sure to keep the following things in mind.
- If you want the best NFT wallet, you should make sure that it is easy to use. Non-fungible tokens are a complex topic for beginners and you don't want a difficult interface on your wallet that will only serve to confuse everything.
- Make sure you check your wallet’s compatibility with multiple devices so that it's accessible from your phone as well as from a desktop or laptop.
- You need an NFT wallet that supports the NFT marketplaces you use.
- Choose a wallet that supports a large number of NFTs, this will expand the range of your options.
- NFT tokens cost millions and billions of dollars so make sure to choose the most secure one.
Different wallets that are present in the market provide various functionalities. Therefore, we have come up with a list of the best NFT wallets to help you choose the right one that matches your objectives.
1. Coinbase Wallet
Coinbase is one of the most popular NFT wallets for beginners because of its simplicity, extensive features, and user-friendliness. If a user has an account with Coinbase, then all he/she needs is to send and receive any NFTs with usernames rather than using their public wallet address.
With this username system, NFTs are really flexible and user-friendly in terms of transactions. Whether it's your first time or you have some experience with crypto, you're going to have an easy time using the Coinbase Wallet.
It helps you maintain your digital assets in one place. This means you have less to worry about and can enjoy more rights to the content than ever with the Coinbase Wallet.
Coinbase supports a variety of cryptocurrencies such as Litecoin, Ripple, Bitcoin, Stellar Lumens, Ethereum, Polygon, and Dogecoin.
2. Metamask Wallet
Metamask is undeniably the best NFT wallet for creators and collectors. It is maintained by Ethereum Foundation-backed ConsenSys. Originally it was just a browser extension that allowed users to connect to decentralized applications (dApps) that fuelled NFTs.
ConsenSys created a mobile app for Metamask in 2020. Metamask offers an inbuilt browser for you to explore NFTs and DeFi apps.
Metamask has a simple, easy-to-use interface and is perfect for collecting NFTs and interacting with other dApps. With this wallet, you can also connect it to various Ethereum-based platforms in order to mint and trade different NFTs.
With this NFT wallet, you will be able to sync all your transactions between your mobile app and web extension. It stores multiple addresses so you can set up a unique wallet address for each NFT asset that you own.
It is also fairly easy to transfer ERC-721 NFT tokens to your Metamask app. Overall this app is very user-friendly and you’ll hardly have any complications around navigating through this app.
3. Math Wallet
If you’re thinking about an alternative to Metamask, then Math wallet should be your go-to option. The biggest differentiator in Math wallet is that it has over 70 different blockchains.
Math Wallet is available for all major devices on the market and it also has web, desktop, and mobile versions that sync to one another. It helps to integrate with a range of hardware wallets and allows users to create multiple addresses.
Not only does it provide utility tokens, but also features like staking and swapping to cryptocurrency holders. Math wallet provides an in-built dApp browser that helps users to check out NFT marketplaces.
Here, the scope is huge when you consider trading in cryptocurrencies.
4. Alpha Wallet
Now we will talk about this open-source Ethereum Wallet based on Ethereum, which provides a quick and easy method of minting and storing your NFTs.
The applications that support Alpha wallet are OpenSea, ChainZ Arena, CryptoKitties, and many others as well. Another advantage is that this wallet is compatible with all the in-game assets that are based on Ethereum.
Even though critics point out that it is a mobile-focused wallet, Alpha Wallet’s website provides multiple significant open-source tools that prove to be advantageous to various digital creators, artists, businesses, etc., who deal heavily on NFT tokens on a daily basis.
The Alpha Wallet also comes with its own browser which allows you to explore DeFi apps and decentralized apps.
5. Trust Wallet
Trust Wallet is another popular mobile wallet option for NFT collectors, with over 5 million users. This wallet is completely open-source and decentralized. Trust wallet doesn’t hold your private key.
This NFT wallet has over 53 different blockchains and 1 million crypto assets. With Trust Wallet, you’ll get access to a dApp list for marketplaces with a focus on art. Users can get one-click access to sites like MyCrypto Heroes, OpenSea, Axie Infinity, etc.
It also provides native integration of renowned public chains like Ethereum Classic, Binance Smart Chain, GoChain, and so on. This wallet has a user-friendly interface with one-click access to NFT apps which can prove to be a promising strength of the wallet.
Trust wallet also includes a built-in cryptocurrency exchange feature that enables users to convert the NFTs they have for the ones they want to buy.
The Most Important Thing To Take Note...
Currently, we're in the middle of a massive technological revolution. The year 2021 showed us just how much money can be made with an NFT. More NFT wallets will come into existence as the demand for NFT trading rises.
We’re still at the initial stages of the evolving concept and people are showing their interest in NFT at a slow but steady pace. Do not fall behind and get started today so that by the time it gets saturated you will have reaped the benefits of this new technology.
Take your time, do your research and pick the best NFT wallet that meets your need the best before diving deeper into the world of NFT.