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If you want to invest or trade in non-fungible tokens (NFTs), a good NFT wallet is indispensable. So many people, so many wishes, so there is a wide range on the market. How do you make the right choice now? In this article I will take you through the basics about NFTs and NFT wallets, after which we dive into an important topic: security.
A good NFT wallet has various characteristics, which we will all discuss. If you know what to look for, then you are also able to make the right choice. As we always say: DYOR (Do Your Own Research)! Finally, we dive into the best NFT wallets of the moment (August 2022), so that you can make an informed choice. We give an introduction per wallet and discuss the advantages.
NFTs are hot and will mean a lot more to us in the future. It is so much more than just digital art pictures, as you will have discovered by now. Read along and immerse yourself in the world of NFT wallets, so that you can buy, sell and store your favorite tokens.
In a world of Web3, NFTs and crypto, security is a precious commodity. If you compromise on security, you can lose all your investments and collections in no time, so don’t compromise on this at all! These are common security issues to consider:
It is good to realize that NFTs can become worth a lot and that you attract criminals as a result. There are a number of measures you can take, such as storing your seed phrase offline, using a hardware wallet, using secure passwords, not clicking on corrupted links and activating 2FA.
A good NFT wallet helps you to optimally manage and trade your assets, but how do you make that choice. We will outline the 5 best NFT wallets of this year below, but before we do that I want to tell you a bit about the features. What are things you should pay attention to when choosing the right wallet for your non-fungible tokens?
MetaMask is by far the best known and most popular crypto wallet of our time. My opinion does not matter of course, but personally I think this is the best of all wallets in my possession. It is a user-friendly browser wallet, in which you can store your cryptocurrencies as well as your NFTs. Here you can read our extensive blog about the MetaMask Wallet, but for the sake of efficiency I will share the benefits with you here:
Note: an online wallet such as MetaMask is more vulnerable than a hardware wallet, as you have the chance of being hacked. The web browser collects user data, so your security is not completely covered.
The Coinbase wallet also has a lot of brand awareness and that is not for nothing, because the exchange naturally generates a lot of attention. The wallet is suitable for holding NFTs and other tokens, with the aim of total control for the holder. In 2021, they launched a browser extension, making switching easier for users. A big advantage of the Coinbase wallet is the use of usernames instead of wallet addresses, which usually consist of difficult, long codes. The advantages of Coinbase at a glance:
Are there also disadvantages? Yes, currently no Bitcoin (BTC) can be stored in the Coinbase wallet. That is not very attractive, especially for beginners in the crypto scene.
Binance, who does not know the exchange. As is the case with Coinbase, this exchange also has a wallet: the Binance Wallet. You also download this online wallet as a browser extension and due to the handy interface, there is no doubt about how it works. Right on target to mint, buy, sell or hold your NFTs. The advantages of this wallet are clear:
If we have to point out disadvantages, users indicate that the supply of non-fungible tokens is limited. It is also only possible to work via the web browser, making the NFTs more difficult to access.
The Math wallet will also appeal to fans of MetaMask. What is striking about this NFT wallet is that it is compatible with no less than 70 blockchains! You have a web, desktop and mobile version, where synchronization is no problem. The advantages for this wallet can easily be summarized as follows:
It may be a disadvantage that the Math Wallet is still under development, which means that the operation and services are sometimes shifted. You can’t pay with card, so that’s also a disappointment.
The last NFT wallet we will discuss today: the Alpha Wallet. If you want to invest in NFTs on the Ethereum blockchain, this is a good choice for you. You can store non-fungible tokens in it and the wallet also supports multiple marketplaces, such as OpenSea and ChainZ Arena. The interface is simple and clear, which makes it user-friendly and also looks fresh. The benefits of AlphaWallet:
The wallet is still under development and is only accessible via the mobile app, which can be a thing for many users.
Do you think this list is still a bit short and would you like to consider other options? Then take a look at other wallets, such as:
We have discussed everything about NFT wallets in this article. If you want to buy, sell or store your non-fungible tokens, then you know what to look out for. Is the wallet user-friendly? Does it support the right blockchains and tokens? Is the security in order and does it work to the satisfaction of the users?
We have also gone through the characteristics of a good NFT wallet, so that you can also research other wallets yourself. At the time of writing (August 2022), these are the best wallets for Non-fungible tokens: MetaMask, Binance Wallet, Coinbase Wallet, AlphaWallet and Math Wallet.
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