Best Wallets for NFT
You know how a physical wallet works, right?
That’s the purpose of NFT wallets too. But instead of money, it stores blockchain assets, cryptocurrencies, and NFT purchases.
And no, you can’t transact without an NFT wallet. But don’t fret; we’re confident that you’ll have one after reading this article.
Why You Need an NFT Wallet
One confusion we often hear from non-NFT users or newbie NFT investors is, can’t we transfer payment from digital banks or e-wallets? It is a pretty reasonable question. Can’t you pay directly?
The answer is no.
For you to perform NFT transactions, you need Ethereum (ETH). And to use ETH, you need an Ethereum wallet. You have to transfer dollars to your cryptocurrency wallet.
You can’t directly execute blockchain transactions using your real-life wallets.
LIST: The Best Crypto Wallets for NFT Collectors
Now that we’ve established the role of cryptocurrency wallets in the NFT space, we’ll list down the most popular NFT wallets and some of the best crypto wallets out there in the market.
Enjin is one of the most recommended NFT wallets, especially for gamers – and understandably so. It’s easy to navigate with a friendly user interface.
Beginners would find the trading process easy. You can do token exchange using QR codes instead of complicated ones that the more advanced apps use. They also support NFTs from a lot of platforms.
It’s also conveniently available as an app for mobile devices, and it’s compatible with both iOS and Android.
One of our favorites about Enjin is how they greatly support developers.
For instance, they’ve made it easy for people to build Non-Fungible Tokens (NFTs) in games! Jumpstarting NFT investments makes it more manageable – and we appreciate that.
And last but not least, another one of our favorites is the Enjin NFT marketplace, where users of this wallet can trade with other collectors.
Note that as of writing this, its system and currency are exclusively Ethereum, and there’s no desktop version (except through the DApp browser only).
If you’re looking for an open-source crypto wallet, Alpha Wallet will be the way to go.
To briefly explain, open-source wallets are community-centric with a high priority with blockchain transparency and public wallet addresses.
Alpha Wallet is similar to Enjin with a friendly user interface, Ethereum blockchain-exclusive, and the mobile app platform (similarly, their desktop version is only available with the DApp browser).
But don’t be dismayed; a website is still a valuable tool for NFT art and gaming tokenization.
If we’re talking about security features and public trust, Math Wallet will impress you.
Backed by Binance Labs, Alameda Research, and multiple blockchain networks in the crypto world, it’s difficult to doubt what this NFT wallet has to offer.
Your crypto assets are guaranteed to be safe; you can easily transact in the NFT market and use multiple devices. And they’re not just Ethereum-based.
The cross-device compatibility feature ensures that all wallet sources stay updated and synchronized.
Another mobile device app to store NFTs is the Trust Wallet. It’s relatively beginner-friendly – although they are still more technical.
But sufficient to say, Trust Wallet transactions are easy to perform even without detailed knowledge about cryptocurrencies.
For what it’s worth to gain your trust, Trust Wallet is bought by Binance, so that’s another guarantee for the security of your digital assets.
On our list, the best NFT wallet for beginners would be Coinbase Wallet.
The interface isn’t intimidating at all. It’s like doing a Paypal transaction – which is quite essential even for newbies.
The registration is free, and all other fees are more affordable as compared to other crypto wallets. Plus, the security measures are commendable. Naturally, though, the compatibilities and NFT support are also limited.
But needless to say, Coinbase Wallet supports the main ones – which should be more than enough for beginners.
MetaMask is a younger crypto wallet platform, but they’re growing fast. We’re pretty sure that in your search about Non-Fungible Tokens, this name has come up once in a while.
They used to be just a browser extension, but they now have a mobile version. And as per some NFT geniuses, it’s best paired with Ledger Nano platforms for the optimum experience.
They do an excellent job of providing key safety measures such as a key vault, multiple wallets, security log-in options, and private keys.
NFT marketplaces are built into the app, making buying and selling NFTs a lot more convenient and seamless.
If you’re all about an NFT wallet with an aesthetically-pleasing interface, you’d appreciate Rainbow.
We think it’s not talked about enough, and we don’t quite understand why. The mobile version interface is straightforward and sleek to use, which is crucial to the entire experience.
It’s also one of the rare crypto wallets that allows you to top up with a digital wallet like Apple Pay. Imagine the convenience of that!
How Do NFT Wallets Work?
First things first, let us clarify that an NFT wallet doesn’t literally store your NFT collection. It doesn’t hold any digital version of, let’s say, an NFT art you’ve won in an auction or bought from NFT marketplaces.
Remember that your assets and coins are stored in the blockchain, not in your crypto wallet. Instead, it’s a means to access your digital assets.
Think of it as a key.
Your wallet will provide private keys to use in transactions. So while selling or buying NFTs, you use that key for authorization and access purposes.
Defining Wallet Types
You’ve probably heard of hot and cold types, and it can get confusing. But to put it simply, here’s a brief explanation.
These types are connected to the internet – they’re accessible online. Most crypto wallets, desktop, and mobile versions are under this category.
A hot wallet is more convenient and accessible since almost everyone’s using this type of crypto wallet. But undeniably, you run the risk of being hacked since it’s internet-based.
For your everyday transactions and exchanges, use a hot wallet.
On the other hand, these are offline. Paper and hardware wallets are examples. They’re deemed to be safer because it’s not easily accessible by just anyone.
For your significant investments, store them in a cold wallet for maximum security.
What to Look For in an NFT Wallet?
The essential features to look for are as follows.
It’s hard to thrive as an investor if the transactions feel like a burden to you. Choose a platform that’s easily accessible and utilized.
Some NFT users love Rainbow’s easy top-up with Apple Pay because it makes loading money a lot easier – and that’s your first step.
The best NFT wallets should be safe from privacy attacks. We’re pretty sure you realize ETH is expensive! And a lot of NFTs are in demand nowadays.
The last thing you want is securing a good asset only to have your wallet hacked.
It’s best to use a wallet that’s compatible with cryptocurrencies and NFT supports. It’s no use to have a wallet that can’t transact across blockchain varieties.
Several of the platforms we’ve listed above are compatible with the critical chains, so don’t worry about that.
No matter how much of a pro you are, you’d still appreciate an easy-to-use interface mainly because it makes life less complicated.
Imagine having to transact with complex settings all the time that won’t motivate you to further your NFT business or collection.
Imagine imposing that upon a beginner. Intimidating apps won’t encourage people.
The whole crypto and NFT concepts can be intimidating.
Even people who have been in the business for a long time will also have questions and run into troubles from time to time.
We particularly appreciate platforms that provide timely assistance for users to inquire and troubleshoot certain matters.
Again, most of the platforms we’ve included also do an excellent job with this aspect.
Whether you’re looking to upgrade or venture out with a new wallet, we hope that NFT Sale’s list of the best NFT wallets will help you find the perfect one for you.
Remember, the best NFT wallet is the one that suits your needs and circumstances.
Happy minting, and good luck with your NFT journey!