Are you an art collector? An investor? A cryptomaniac? Whatever the case, if you’re looking for a reliable way to store your Non-Fungible Tokens (NFTs), you need a secure go-to NFT wallet! But how do you know which is the best overall NFT wallet for you?
Let us be your guide. Whether you’re a total beginner in the world of NFT collectors or already have a handle, we’ve got the best overview of the top NFT wallets out there. So, without further ado, let’s get started!
Which is the Best Wallet for NFT?
Ledger is the biggest name in the hardware wallet industry. Its 3 primary hardware wallets are incredibly secure and all can interact with almost any software wallet or extension on either desktop or mobile.
Arculus is a newcomer to the block and works by tapping a sleek NFC-enabled metal card against your phone in order to send crypto or NFTs. This metal card is highly secure and portable but must be paired with the Arculus-specific software wallet.
Best for Mobile
Zengo is a mobile-first wallet that uses something called Multi-party computation to keep your funds safe, rather than a separate physical device. As of yet, no funds have ever been hacked from an MPC wallet AND it enables users to contact support if they forget their password.
3 Top NFT Wallets To Use In 2023 – Detailed Reviews
Ledger Wallet Review
What Does a Ledger Wallet Do?
Ledger is a cold storage hardware wallet to store your NFT collections and cryptocurrency securely. It offers unbeatable security, as the device runs on trading and storage software entirely offline. You don’t need to worry about your private keys being compromised because they are stored securely on the device itself. A unique feature of this wallet is its ability to store multiple NFTs and cryptocurrencies from various chains in one place, so you don’t have to juggle different accounts for each type of asset.
Its state-of-the-art security features ensure that your valuable cryptocurrencies are secure from cyber threats. Its access mechanism requires a seed phrase of 12 or 24 words for authentication,
The setup process is straightforward: first, you’ll download and install an app for each blockchain you want to be supported onto the ledger itself. Then activate your device by plugging it into a phone or computer with an internet connection. From there, the wallet connects to the most popular software wallets like Metamask and more so that you can transfer crypto assets or NFTs to and from your wallet from any compatible platform.
Ledger Wallet Pros and Cons
What Coins and NFTs Are Supported on the Ledger Wallet?
The Ledger Nano X allows you to securely manage over 5,500 crypto coins and tokens, including Bitcoin, Ethereum, XRP, and others. As for NFTs, if Ledger supports the underlying blockchain’s coin – it likely supports the storage of NFTs on that app.
Is Ledger Completely Safe?
The Ledger wallet is an affordable, secure cryptocurrency hardware offline wallet that provides enhanced security features. The device acts as a key that pairs with software. It must be physically present to send a transaction as the device needs to be plugged in and physically present to confirm the trade. This prevents remote hackers from accessing your crypto.
Users have complete control over their private keys with a proprietary operating system and a secure chip.
This allows them to store over 1,100 cryptocurrencies with Ledger. Among these tokens are those that the wallet supports itself and those for which third-party app installation is needed.
Ledger Wallet Price?
Ledger currently has two hardware variants, Ledger Nano S plus and the Ledger Nano X. Nano S is set at $79, whereas Nano X can cost you around $149.
Arculus Wallet Review
What is Arculus Crypto Wallet?
Developed by CompoSecure, a tech company specializing in secure payment solutions and metal payment cards for significant banks, Arculus boasts an impressive range of sleek features designed to keep your assets safe. With Arculus’ Web3-enabled cold storage wallet, you can be sure that your cryptocurrencies are being stored in one of the most secure environments available.
As one of the first several hardware wallets designed to be secure, stylish, and user-friendly, Arculus is tailored toward the modern investor looking for a simple yet effective solution. Instead of relying on WiFi, Bluetooth, or USB cord connections to access your wallet as most NFT wallets tend to do, Arculus uses a key card you can keep wherever you go.
This means that if anyone wants access to the cryptocurrency tied up in their Arculus wallet, they’ll need this physical card. Without that, their funds are practically inaccessible.
Arculus Pros and Cons
What Coins Does Arculus Wallet Support?
Currently, Arculus supports 40 cryptocurrencies. Arculus lets you buy and swap different cryptos and altcoins, including popular alternatives like BTC, ETH, USDC, and USDT. This is a smaller selection than most exchanges provide.
How Secure Is Arculus?
The Arculus companion app combines different levels of security, making it virtually impossible to break into. The 3FA solution requires users to go through three layers of security, including biometric access on a mobile device and a six-digit passcode and key card.
The Arculus card uses NFC technology, meaning users just need to tap their key card against the back of their phone to access their wallet.
Arculus Wallet Price?
For only $99, you can have a secure storage solution for your digital assets, with the bonus of a free mobile app.
The advantage that the Arculus Key Card has over its competitors is that it has no moving parts or vulnerable elements, making it practically immune to hardware failure.
What Is a Zengo Wallet?
ZenGo’s multi-currency wallet is designed with advanced security features that make it highly secure from cyber threats. What sets ZenGo apart from any other software wallet is its keyless design which eliminates the need for passwords, private keys, or seed phrases to access stored assets.
ZenGo’s Keyless Wallet technology uses a threshold signature system that stores information on the user’s mobile device and ZenGo servers. With this dual layer of protection, users can rest assured that their funds are safe and secure without remembering any complicated passwords or lengthy seed phrases. ZenGo’s user-friendly interface makes it easy to access your funds anytime.
Zengo Wallet Pros and Cons
What Coins Are Available on Zengo?
To begin, Zengo supports Bitcoin and the Ethereum blockchain. So that means not only ETH but all ERC20 tokens are supported. Users can also access Dapps through wallet connect to use dexs and NFT marketplaces.
Furthermore, within the ZenGo mobile application, it is easy to trade and swap cryptocurrencies across multiple chains through a partnership with the instant swap platform Changelly. The ZenGo wallet has over 40 crypto assets corresponding to over 1,000 cryptocurrencies that can be exchanged between different currencies to diversify a crypto portfolio.
Is the Zengo Wallet Safe?
ZenGo is exceptionally safe since its developers utilized an innovative security system called Multi-Party Computation (MPC) to protect the user’s funds. This type of security doesn’t rely on any private key, backup phrase, or password. Instead, user funds are stored by utilizing two unique, independently created secret mathematical shares. Also, the face-recognition feature on your mobile phone works in tandem with the non-custodial nature of the wallet so that stolen private keys cannot be accessed.
How Much Does Zengo Cost?
Downloading the ZenGo app itself is free. Also, besides network gas fees, ZenGo doesn’t incur any charges when transferring crypto coins from one ZenGo Wallet to another. However, the platform charges a fee for swapping, selling, and purchasing crypto using fiat based on the payment method you use.
For example, when purchasing cryptocurrency through bank transfer via MoonPay, users will incur a $1.99 fee on top of the amount they purchase. On the other hand, if they choose to pay with a credit or debit card, they will incur a fee of $5.99 percent in addition to their purchase amount.
For users in eligible countries, there is a 1.99 % fee when converting crypto into fiat + blockchain network fees.
In addition to this fee structure, users that opt to trade crypto-to-crypto will also have to pay a 0.5% processing fee and may incur additional spread fees of up to 2% depending on liquidity.
Why Are Crypto Wallets Needed for NFTs?
Without a cryptocurrency wallet, users can’t effectively interact with any part of the blockchain ecosystem – including NFT trading!
A crypto wallet is like a bank account – it stores digital currency securely in encrypted form on the blockchain. It allows users to send and receive payments safely through public and private keys.
Crypto wallets provide greater control over funds since users can quickly transfer money between different wallets without relying on third parties (most popular NFT wallets: Math wallet, Trust wallet, Alpha wallet, Coinbase wallet, Enjin wallet, and other NFT wallets). This makes all the NFT wallets ideal for storing NFTs that require high levels of security and privacy when exchanging value online.
Crypto wallets make it easy to keep track of all your transactions while trading or selling NFTs.
What To Look For in an NFT Wallet?
Strong security should be at the top of your list when choosing the right NFT wallet. Make sure it has features like 2FA (Two Factor Authentication), Biometric signs, cold storage options for maximum protection, and private keys that are kept away from prying eyes. This will protect your digital assets from potential hackers or scammers. Look for wallets with high levels of encryption and proven track records of keeping digital assets safe from malicious attackers.
Also, NEVER SHARE YOUR SEEDPHRASE WITH ANYONE.
The user interface should be easy to use The best wallets have a sleek design with simple menus and few steps between transactions or searching for specific assets.
Multiple device support
This ensures that you won’t have any issues if you want to access your wallet on both a phone and a computer (or multiple devices). Additionally, it will provide peace of mind knowing that your valuable assets can be accessed from anywhere in the world at any time on any type of device or platform!
Best Crypto Wallet for NFTs: FAQs
An NFT wallet (token wallet) is a way to securely store your tokens and track all your NFT transactions. They offer users an easy way to manage their digital assets with features like secure storage, multi-signature accounts, and backup options -all while keeping the tokens safe from third-party interference.
The answer is yes! An NFT wallet is like an online bank account for your digital assets; it is needed to sign and send transactions on a blockchain. It holds unique tokens representing ownership of your artwork and any cryptocurrency used in transactions.
The answer depends on your needs and goals as a collector or investor. Having multiple wallets may be beneficial if you want to securely store large amounts of crypto assets.
A common strategy is to have one wallet for day-to-day trading and another that holds your more valuable assets that rarely are used. This decreases your chances of signing a malicious transaction with a wallet with one of your valuable NFTs.
If you practice proper key management and safety protocols, it should be very difficult for someone to steal your NFTs or crypto assets. But that said, it is not impossible.
First, always use a hardware-secure wallet or wallet that is using MPC (like Zengo). Second, never ever share your seedphrase with anyone unless you want to give them full, anonymous access to your crypto.
And finally, be careful about what transactions you sign. No matter how safe a wallet if you tell it to do something, it will do it. Hackers often try to spoof accounts to make it look like you are doing one thing when really you are signing away access to your funds.
Be careful and stay safe.