Exploring the 5 Best NFT Wallets!

NFTs are the in-thing. And they are here to stay. That said, there’s tremendous growth in the number of creators and collectors. This makes the need for safe storage of NFTs, a mandate, which leads us to NFT wallets. If you want to explore the best NFT wallets, you are on the right page. Let’s get started!

What should you look for in an NFT wallet?

Some of the features that you look for in the best NFT wallets are:

User-friendly interface

NFTs are already a not-so-easy-to-understand concept for many; so definitely no one would prefer to complicate it with complex wallets. It’s a good idea to opt for an application that is easy to use. As the NFT industry is still evolving, an absolutely beginner-friendly app is difficult to find, however, there are options, particularly with mobile versions which can help those trying to get started with NFTs.

Cross-chain Compatibility

As Ethereum is highly popular among users and developers, it is not uncommon that most wallets support Ethereum-based (ERC-721) tokens. However, if you wish to buy, sell or mint NFTs, you may need wallets with cross-chain compatibility.

Multiple-devices support

Most NFT wallets work as web extensions or desktop or mobile applications. Some wallets like Metamask support both devices and let users synchronize their transactions in real time.

Top 5 NFT Best Wallets to get started with

Metamask

Metamask, the best NFT wallet for NFT collectors is maintained and managed by Ethereum-backed ConsenSys. Previously, Metamask existed as a mere browser extension, but later in 2020, ConsenSys developed a mobile app for Metamask which offers a simpler interface for collecting NFTs and coordinating with other decentralized applications. With Metamask, you can create an Ethereum wallet directly and link to all Ethereum-based services, and mint NFTs.

Advantages

• Metamask is an easy-to-use and easy-to-setup wallet for anyone with basic knowledge of cryptocurrencies.
• The mobile app lets the direct transfer of ERC-721 tokens from one address to another.
• Users can swap between Ethereum and other ERC-20 tokens.
• The mobile version offers an inbuilt browser to explore NFTs and DeFi applications.
• It allows transactions to be in sync across mobile and web extension applications.
• It lets users switch between multiple ETH addresses that they own.

Disadvantages

• There’s a concern that Metamask shares identifiable information with some data-gathering networks.
• Metamask is mainly compatible with Ethereum and EVM-compatible blockchains.

Enjin

Enjin is one of the best NFT wallets for storing in-game NFTs and other collectibles, In addition to collecting and storing cryptocurrencies and tokens, the wallet also serves as a marketplace to store digital assets using ENJ, the project’s native token. Besides, Enjin offers a browser to access Ethereum-based dapps and DeFi applications.

Advantages

• Enjin blockchain wallet provides the best interface for collecting NFTs.
• The app comes with advanced security features like auto-lock and biometrics.
• Enjin has a customer help desk, unlike most wallet providers.
• It has an in-built wallet that lets users convert one cryptocurrency to another.

Disadvantages

• Enjin wallet only works on mobile.
• The app supports only Ethereum-based NFTs and dApps.

Trust Wallet

With over 5 million users, Trust wallet is another digital wallet that is a great choice for NFT collectors and creators. The app provides one-click access to its users to various art marketplaces like OpenSea and Axie Infinity. Though it does not support the transfer of NFTs, the wallet allows users to collect and store NFTs and other digital assets. In addition, the Trust wallet, one of the best NFT wallets supports integration with various blockchains like GoChain, Binance Smart Chain, Ethereum Classic, etc.

Advantages

• It provides a much simpler, easy-to-use, and user-friendly interface.
• It can be used both as a cryptocurrency and a DeFi wallet.
• It offers one-click access to NFT applications
• It supports an in-built cryptocurrency exchange.
• As it supports multiple blockchains, there are more choices available.

Disadvantages

• The wallet is only available on mobile.
• Its close link with the Binance platform indicates that it is likely to support Binance-based products more than its close competitor Ethereum.

Alpha Wallet

Alpha Wallet is an open-source, Ethereum-only blockchain wallet that offers the option for minting and collecting NFTs. While Alpha wallet is only available on mobile, it offers various open-source tools to developers, creators, and businesses for other forms of blockchain-based tokenization. Some of the supported applications include OpenSea, CryptoKitties, and ChainZArena. In addition, the app works well with all in-game Ethereum-based dApps and is an ideal choice for collectors.

Advantages

• It provides an in-built web3 browser for DeFi applications and DApps.
• The wallet offers an excellent interface for those getting started with Ethereum and NFTs.
• Alpha Wallet offers native support for all Ethereum-based games and tokens.
• Alpha Wallet is still nascent and is capable of accommodating new features to accept ideas from the community.

Disadvantages

• It is available only on mobile, Android, and iOS.
• It supports only Ethereum-based applications and sidechains.

Math Wallet

Math wallet, which offers an excellent option for those looking for a Metamask alternative, is backed by industry-leading incubators like Binance Labs and Alameda Research. It supports over 65 public blockchains and lets users manage their assets across these networks. It is available on mobile, as a web browser extension, and as a web wallet for separate public blockchains.

Advantages

• It offers cross-device synchronization and compatibility.
• It provides native support for multiple blockchains.
• It offers a one-click feature to let users access NFTs and DeFi applications.
• It provides the feature to exchange cryptocurrencies.
• Some hardware devices like Ledger provide integration with Math wallet to offer additional security choices.

Disadvantages

• Some iOS users have reported issues with staking dApps.
• Math wallet is under development, so sometimes users experience bugs on mobile versions.

How to choose the best NFT wallet?

Well, the choice of an NFT wallet depends on two factors. First, whether you are a creator or a collector. Second, the devices you might be using to do your uploads, etc.

Creators

Creators need to regularly work on NFT marketplaces like OpenSea, Rarible, etc. In addition, they need to upload digital files or images and enable certain features. All this requires the need for computers or desktops and cannot be efficiently executed on mobile. Therefore, creators must opt for Metamask or Math wallet as both support browser extensions.

Collectors

Collectors only need to collect and store the NFTs or digital assets which is very much possible with mobile wallets. Thus, Metamask’s mobile version, Enjin wallet, Trust wallet, and Alpha wallet are all the choices available to collectors.

What are the pointers to keep your crypto assets safe?

Crypto assets could be worth much more in the future. So, you must follow the below guidelines to keep them secure:

• Always download NFTs and apps from official websites and app stores.
• Take a backup of your seed phrase in a secure offline location.
• Make sure you bookmark your browser NFT apps to avoid falling prey to phishing websites.
• For wallets that are used as a browser extension, make sure you sign out before shutting down the computer.
• Never use public computers for engaging with NFTs. If you do so, ensure that you erase all data before signing out.

Final thoughts

While you plan to buy or sell NFTs, first make sure that you have the best NFT wallets to store your crypto assets. The pointers and the wallets discussed in the article offer information useful in this regard.