The rise of non-fungible tokens in 2021 has caught people’s interest. While the concept was already known in 2020, its value became more prominent after a digital artist sold one for $69 million. As a result of events like these, NFT sales reached $2.5 billion during the first half of 2021, compared to just $13.7 million during the first half of 2020.
There are lots of people who are already millionaires by trading NFTs. If you’re looking to join the bandwagon of buying and selling valuable NFTs, your first step should be getting your NFT wallet.
An NFT wallet is simply a cryptocurrency wallet that you can use to store your cryptocurrency and NFTs in a single place. NFT wallets need to support blockchain protocol. The options we’ve discussed ahead should assist you in choosing the right one.
6 Best NFT Wallets: Full Guide
With the rise of non-fungible tokens over the past two years, a list of wallets with noteworthy features has also emerged. While most of them offer a range of functionality that may interest you, a few stand out.
We’ve compiled a list of six such platforms, describing their features and providing detailed information on every aspect.
1. Coinbase
The Coinbase NFT wallet has become a popular option among enthusiasts, developers, and beginners as a preferred transactional wallet.
We have figured that there are many factors that make it a great wallet on this list. Using the Coinbase wallet lets you control your NFTs since they are not held on the exchange but in your Coinbase wallet. As a result, your tokens are relatively safe. Coinbase can be an ideal wallet for novices because of its relatively simple user interface
Besides the ease of use, the convenience of transferring the tokens sets it apart. Tokens are moved from one username to another instead of being sent to a public wallet address. It gives the impression that the transactions are more human and personal, lowering the risk of errors. The wallet’s multi-platform functionality enhances the user experience.
Additionally, Coinbase wallet allows you to create a one-click cloud backup of your private keys, allowing you to back up your keys in the cloud. Coinbase, in 2021 introduced a web browser extension in addition to the dApp so users could access their wallets via the web.
2. AlphaWallet
If you want to invest in Ethereum-backed tokens, Alpha Wallet might be the best NFT wallet. It allows you to mint and collect the NFTs and support several NFT markets and games, like ChainZ Arena, OpenSea, CryptoKitties, and others. Its user experience (UX) appears to be both basic and user-friendly, giving it a contemporary look.
While its simple interface makes it popular with beginners, the fact that it is only available on mobile devices can be irritating for some users. However, It makes up for it by offering a list of open-source tools for many users on the AlphaWallet site, including businesses, developers, and investors. The i-built Web3 browser enables direct access to the dApp, marketplace, games, and everything else.
AlphaWallet offers a 12-word secure key backup and recovery to improve the experience for users and provide security. Secure Enclave is used to keep transactions safe. It is noteworthy that AlphaWallet has TokenScript enabled tokens available on its platform, which gives users a rich native experience.
3. MetaMask
Metamask is the next wallet on our list. Due to various reasons, the wallet has established itself as one of the best NFT wallets in recent years. ConsenSys, an Ethereum Foundation-backed organization, maintains and operates the wallet. Metamask can assist users in setting up an Ethereum wallet and connecting to all Ethereum-backed and compatible platforms directly.
What began as a browser extension has evolved into a mobile application that allows users to access content across several platforms. In the year 2020, MetaMask introduced its mobile application. It enables you to sync your holdings seamlessly across multiple devices.
Metamask’s most exciting feature is its built-in swap functionality, enabling you to swap currencies to purchase an NFT. Furthermore, the customer can limit the gas fees they spend while transacting. Although the application is primarily focused on Ethereum, there are possibilities to use other platforms.
4. Trust Wallet
Trust Wallet, a prominent mobile-only wallet owned by Binance, is one of the few NFT wallets with a large userbase. It is undoubtedly among the most prominent NFT wallet, with over five million users.
While Trust Wallet is a wonderful alternative for storing and maintaining your tokens, it does not allow you to transact. It may not be the ideal option for someone trying to swap or move assets. Since Binance owns it, it may have a slight bias towards smart chain tokens.
Users may find a list of decentralized apps for art marketplaces, allowing them to access sites like Axie Infinity, OpenSea, and others with a single click.
However, native integrations are also available for chains like Ethereum Classic and Binance Smart Chain. Additionally, the wallet’s built-in exchange allows the user to easily trade currencies to purchase their selected artworks directly from the wallet.
5. Enjin
Enjin could be your wallet if you’re a fan of NFT-based gaming. It has its coin, $ENJ, in addition to being a wallet.
Enjin makes it simple to gather in-game NFTs and other collectibles. As part of the Enjin ecosystem, the company also features its marketplace where you can trade digital assets using Enjin’s token, ENJ. There’s also the accessibility to Decentralized Finance (DeFi) applications with a fantastic user interface (UI).
Due to its seamless interface and ease of use, its UI has gained much attention. Enjin also has a fingerprint scanning feature that guarantees its users extra security.
Local currency, a multilingual user interface, no adverts, and trackers are a few of the extra features that Enjin offers. Enjin is a wallet suited for both amateurs and experts because of these qualities. The app includes a fee calculator that allows you to calculate your costs and set restrictions.
What sets Enjin apart is the customer care desk offered to its users, which is not available with the other wallets.
6. Math Wallet
Math Wallet might even become one of the best NFT wallets in the future, thanks to its backing by Binance Labs and Alameda Research.
It is thought to be one of the closest Metamask alternatives. It has a list of over 65 public blockchains that it supports.
An easy-to-use interface and some great features make Math Wallet a top contender for the best NFT wallet award. You can access the web wallet, mobile applications, and browser extensions anywhere.
Apart from the many versions, it also can integrate with a variety of hardware wallets. Multiple addresses can also be created, adding to its list of useful features. In addition, Math Wallet has its own utility token.
Conclusion
NFT wallets could be a great invention in the near future. Data indicates that the number of active wallets hit 179,000 in October 2021, marking a 940% year-over-year increase. This does appear to be a positive indicator for the NFT market.
When investing in NFTs using an NFT wallet, keep the important factors in mind and build a strategic investment plan. You can use most of the wallets for transacting and storing your artwork.
As we saw above, there is no clear winner when it comes to the best NFT wallets, each having its pros and cons. Therefore, you should choose the ones that work well for you. It’s as simple as that.
Would you like to know about the upcoming NFT projects in 2022? Read our blog to find out.