NFT stands for Non-Fungible Token. NFTs are a new type of digital asset that can represent anything from physical assets to virtual goods. Since they are unique and cannot be copied, creating fake assets or plagiarising them is much more difficult.
What is an NFT wallet?
NFT wallets are used to manage NFTs. NFT wallets can be segmented into three categories:
- Hardware wallets are physical devices that store private keys and are used to send, receive, or manage NFTs.
- Third-party service providers host online wallets and provide access to tokens without needing a hardware wallet.
- The user hosts desktop wallets and stores private keys locally.
Some NFT wallets come as a browser extension. The benefit of these wallets is that they are usually browser-based, downloaded onto a computer and used on the internet.
Using NTF-based wallets allows for easy storage of cryptocurrency and NFT assets. With a massive expansion in the NFT business, the market for a wallet can now offer more than 300 different tools for borrowers to use.
Let’s dig deep into the topic to explore the best NFT wallet.
Why do you need an NFT wallet?
NFTs represent collectables such as art, real estate, baseball cards, or physical asset ownership. NFTs can be used to represent anything unique. Some have high financial value and users want the best NFT wallets to store them.
An NFT wallet is a cryptocurrency wallet that stores the private keys for your NFT tokens. The primary purpose of using an NFT wallet is to ensure that you do not lose access to your tokens and provide some level of security.
By selecting the best NFT wallets, you can maximize the level of security that you have access to when storing your NFT tokens. For example, desktop and online NFT wallets are generally more secure than mobile wallets. However, mobile NFT wallets are portable because they allow you to access your funds from any location with an internet connection.
In addition, hardware NFT wallets are generally considered the most secure type of NFT wallet because they use a physical device (such as a USB drive) rather than a software solution.
Regardless of the type of NFT wallet you choose to use, you must take proper security measures not to lose access to your tokens. A well-designed NFT wallet allows users to store their NFT assets safely and efficiently while giving them complete control over their assets.
What should I look for in an NFT wallet?
When picking the best NFT wallets, there are a few factors you should consider before making your decision:
Security
Your NFT wallet must be secure to keep your assets safe from hackers. Ensure the software you download is safe to use and contains no viruses or malicious code.
Easy to use
The best NFT wallet will be easy to use and familiar to users so they can quickly navigate between their accounts and various applications on the same device. It should also have intuitive controls such as a built-in address book that allows users to send other people money easily. Most importantly, a good wallet will have a simple way for users to securely store their private keys, which is essential to make transactions with their NFT wallets.
Cross-blockchain Compatability
Another indication of the best NFT wallet is cross-compatible with multiple blockchains. This means it should be able to seamlessly connect to the tokens and cryptocurrencies you already have in your possession, enabling you to move them from one platform to another.
Another important factor to consider when choosing an NFT wallet is whether or not it complies with anti-money laundering (AML) regulations, so NFT wallets must be protected against these threats. The best way to do this is by using a hardware NFT wallet, as suggested in this article.
Multi-device compatibility
As with any wallet, the best NFT wallets will support multiple devices. This allows you to easily access your tokens while on the go or save them on an offline device like a desktop computer or tablet.
Check the wallet specifications and platform compatibility to ensure your wallet supports multiple devices.
Hot and Cold Wallets
A hot wallet is a crypto wallet that holds the cryptocurrencies that are being actively traded. It is connected to the internet and, therefore, has access to the network. This allows it to receive and send funds/NFTs in real time.
A cold wallet is a crypto wallet that does not have internet access. It stores the cryptocurrencies offline, keeping them secure and increasing their value. Cold wallets can be either paper wallets or hardware wallets. Paper wallets are straightforward, while hardware wallets are more confident and provide better security features.
While both hot and cold crypto wallet storage is important, having a hot wallet connected to the internet makes it easier for users to make transactions. If you want more security, consider storing your cryptocurrencies offline in a cold wallet.
List of 10 best NFT wallets
Here is the list of 10 best NFT wallets to store NFTs. You can scroll down to the bottom to find out which one is the best NFT wallet among the ones listed below.
01 – Metamask Wallet
Metamask is a browser extension for Google Chrome, Mozilla Firefox, and Opera and is one of the best NFT wallets. It is a hot wallet. Metamask also has a mobile app for Android and iOS devices. This best NFt wallet can store ERC20, ERC 721 and NFT tokens.
To store an NFT in Metamask, you first need to add Ethereum to your Metamask wallet so you can buy and pay gas fees. Metamask is a convenient way to store your NFTs and other digital assets. It is easy to use and provides a user-friendly interface. Metamask is also relatively safe and secure, but remember that no wallet is entirely immune from hacks or theft.
Pros of Metamask wallet
Browser-based wallet: Metamask wallet is available as a browser extension. So it is quickly accessible while browsing.
More reliable than other storage services: Metamask is even more reliable than cold storage services because it uses multiple layers of encryption to protect your data.
Faster loading times: Your data will be loaded much faster withMetamask compared to other online storage services
Cons of Metamask wallet
Cannot Store NFTs on the Device: Metamask requires that your NFTs be stored on a third-party device. You cannot keep your NFTs in the wallet if your device is lost or stolen.
Use of Third-Party Storage Solutions: Metamask falls within the “third-party storage solutions” category, which means that it relies on third-party providers for its security and stability. These providers may have privacy policies and clauses affecting how easily you can access or sell your NFTs to others.
02 – Coinbase wallet
Coinbase is a hot wallet and supports all ERC-20 tokens, BTC, Bitcoin Cash, LTC, XRP, XLM, and Dogecoin. It falls under the category of non-custodial wallets, i.e. you are the sole custodian of your cryptocurrencies, not some third party. The wallet provider is Coinbase.
It is a simple and effective way to store your cryptocurrencies. Coinbase wallet allows you to hold your cryptocurrency in one place and manage it all from one place, making it very convenient for beginners and experienced users.
You can also store your cryptocurrency using an online exchange like Coinbase. These services allow you to trade digital tokens with each other without having to worry about storing them yourself. They also provide additional security measures and backup options if needed.
Pros of Coinbase wallet
Easy to use: Coinbase is the right NFT wallet that makes it easy for users to store and manage their NFTs safely and securely.
Supports multiple coins: It supports a range of cryptocurrencies, making it the perfect platform for those who want to invest in various currencies at once. You can access NFT marketplaces.
Wide range of supported tokens: It is compatible with many popular tokens, including Bitcoin, Ethereum, Litecoin and more.
Secure platform: The security features included within this wallet make it one of the most secure platforms available on the market today
Cons of Coinbase wallet
Inability to Store Large Amounts: If you want to store large amounts of NFTs in your NFT wallet, it may not be feasible due to its limitations on how many assets a user can hold simultaneously.
Limited Availability: The number of merchants allowing customers to pay with cryptocurrencies is still limited, which means there may not be many places where you can use your coins and tokens securely.
High Fees When Transacting With Cryptocurrencies: You will need to pay high fees when transacting with cryptocurrencies through a Coinbase wallet since they process all transactions on their network rather than working together like other exchanges do
03 – Binance Chain Wallet – Popular Browser Extension NFT Wallet
Binance Chain Wallet is the official Binance cryptocurrency wallet for accessing BNB Smart Chain (BSC), Binance Chain, and Ethereum. It is a custodial wallet. Binance Wallet also offers paid custodial cold storage wallets. It can be used to access the NFT marketplaces.
Binance smart chain wallet can store NFTs and supports multichain NFTs.
Pros of Binance chain wallet
Binance chain wallet offers the ability to manage multiple NFTs on their Binance smart chain, view NFTs in various formats, and track NFT prices.
Binance smart chain wallet also offers many security features, including setting up two-factor authentication and encrypting your data.
Binance chain wallet provides a detailed view of your NFTs, including their transaction history and current value.
Cons of finance chain wallet
Binance chain wallet charges a fee for every transaction. You will be charged a small fee every time you send or receive an NFT on the Binance chain wallet.
04 – Trust Wallet
Trust wallet is a hot NFT wallet that supports Bitcoin, Tron, Litecoin, Ethereum and ERC20, BEP20 and ERC721 tokens.
Trust Wallet was created to provide secure, private, and decentralized access to the blockchain. Trust Wallet is available for both iOS and Android. Trust stores your private keys locally on your device and never sends them to any servers.
Buying and storing NFT using Trust Wallet is quite simple. Trust is the best NFT wallet option for security and privacy.
Trust also has a built-in Web3 browser that allows you to interact with decentralized applications (DApps) directly from your mobile phone. Trust Wallet is an HD wallet which
Pros of Trust wallet
Safe and Secure: One of the most significant advantages of using this NFT wallet is that it is much safer and more secure than a traditional online wallet. Additionally, the Trust NFT wallet allows you to set up multiple layers of security, such as 2-factor authentication and biometric authentication.
Easy to Use: Another advantage of the Trust NFT wallet is its effortless use. Trust NFT wallet is designed to be user-friendly and easy to navigate.
Support for Multiple Assets: Another significant advantage of the Trust NFT wallet is that it supports multiple assets. This means you can store cryptocurrencies and other digital assets such as art, music, and videos. Users can access NFT marketplaces.
Low Fees: Finally, another advantage of the Trust NFT wallet is that it applies lower fees than traditional online wallets. However, it also depends on the market transaction loads.
Cons of Trust Wallet
Lack of Compatibility: One of the primary drawbacks of the NFT Trust wallet platform is its lack of platform compatibility. It cannot be used on a desktop PC. They have launched the browser extension, which is still in beta. This can make using the NFT Trust wallet with other software or applications challenging, limiting its usefulness.
Limited Functionality: Another drawback of the NFT Trust wallet platform is its limited functionality in lending, borrowing, and similar options. The platform only supports a handful of cryptocurrencies and NFTs.
05 – AlphaWallet
Alpha Wallet is a hot wallet. However, it has a feature named “Secure Enclave” which provides cold wallet-grade security and thus makes it a very secure wallet. Alpha is a wallet compatible with many cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Monero, BNB, ADA, DASH, MATIC, and many others
Alpha Wallet is available as a mobile wallet and offers many features that make it an attractive option for storing NFTs.
Additionally, Alpha Wallet is a token wallet as it provides support for ERC-721 tokens, making it an ideal platform for storing and managing NFTs. Overall, Alpha Wallet is a secure and user-friendly platform with various features that make it an appealing option for storing and managing NFTs.
Pros of Alpha Wallet
Secure: Alpha Wallet provides the safest way to store your NFTs in a hot wallet due to their “Secure enclave” technology.
Control: Alpha Wallet gives you complete control over your NFTs, like most NFT wallets.
Transaction ease: Alpha wallet lets you easily transfer your NFTs to other wallets or exchanges and in NFT marketplaces.
Cons of Alpha Wallet
A few potential drawbacks exist to using the Alpha wallet to store your NFTs. First, the fees can be relatively high because the dApps and other assets are stored as tokens on the blockchain. Another potential drawback of using Alpha Wallet is that transferring NFTs from the wallet can be difficult if you decide you no longer want to use it.
06 – Enjin Wallet
Enjin is popular among NFT wallets, which provides secure transactions by integrating biometric features. It supports Dogecoin, Ethereum, Litecoin, Binance Coin, Bitcoin (BTC), ERC-20, ERC-721 and ERC-1155 & blockchain assets.
The wallet has a mobile app and supports various popular NFT transaction standards, so you can be confident that your NFTs will be compatible with most platforms and services.
If you’re looking for a safe and easy way to store your NFTs, look no further than the Enjin wallet for NFTs!
Pros of Enjin Wallet
Security: One of the primary benefits of using this wallet for storing NFTs is security. The Enjin Wallet uses military-grade encryption and biometric integrations to protect your NFTs from hackers. Additionally, the Enjin Wallet is a non-custodial wallet, meaning you are the only one with access to your private keys.
Ease of Use: Another benefit is that the interface is straightforward. The wallet’s interface is designed to be user-friendly, and it supports various languages. Additionally, the wallet can be used on both mobile and desktop devices.
Support for Multiple Currencies: In addition to supporting Ethereum-based NFTs, this wallet also supports a variety of other currencies. These include Bitcoin, Litecoin, Ethereum Classic, and ERC20 tokens. This makes the Enjin Wallet a great option for those who want to store various assets in one place.
Cons of Enjin Wallet
Inability to Scale Up: The current infrastructure can’t handle many users, which hampers its scalability and overall usability.
Limited Functionality: The functionality offered by this wallet for NFT storage is limited and doesn’t comply with the needs of many users. This includes features such as cross-chain trading and voting support, among others.
User Frustration: Many users have expressed their frustration with the lack of features available in this wallet for NFT storage, citing issues such as slow transactions and buggy software as some reasons behind this dissatisfaction.
07 – Math Wallet
Math Wallet is available on multiple platforms (app, browser extension), a cloud wallet, and a hardware wallet and is among the most popular NFT wallets. It means it is available in hot and cold wallet options. The cloud wallet is a custodial wallet, and it supports staking.
Among crypto wallets, this supports 40 public chains and DAPP ecosystems, including BTC, TRON, EOS, ETH, Coinston chain, Cosmos, EOSC, ENU, BOS, NEO, IRISnet, ChianX, TomoChain, Fibos, and many others.
This is one of the top NFT wallets and is a great option for those looking for a safe and secure way to store and NFT transactions. It supports River 3000 different tokens, including NFTs.
Pros of Math Wallet
Intuitive interface: This is among the popular NFT wallets, i.e. crypto wallet, with an intuitive and user-friendly interface that makes it easy to use.
Multiple fields: The Math Wallet is one of the most popular crypto wallets that can store a wide range of data, including private keys, balances, and NFTs, and give easy access to NFT marketplaces.
Secure storage: Math Wallet enables secure storage facilities so you can feel confident that your data is safe and sound!
Searchable database: This is among the top NFT wallets, including a searchable database that allows you to find the information you need easily.
Cons of Math Wallet
Limited Space: Blockchain-based crypto wallets typically store many NFTs on a single platform, making keeping them in unlimited places challenging.
High Expenses for Maintenance and Updating: The maintenance and updating costs associated with blockchain-based wallets can be high, especially if they are used by large amounts of people simultaneously.
08 – Coinomi
Coinomi is a hot wallet that supports more than 125 different blockchains, including the major ones, i.e. Bitcoin, Ethereum, Solana and others. Coinomi is one of the oldest wallets and supports NFT storage.
Pros of Coinomi Wallet
Security: The Coinomi Wallet has excellent security features, including 2-factor authentication and a powerful cold storage feature.
User-friendly Interface: The user interface is straightforward to use.
Customizable Features: You can customize the look and feel of your account and control which transactions are visible to you.
Support for Multiple Cryptocurrencies: Coinomi supports 125 blockchains, meaning you can store whatever coin you want!
Compatible with Various Devices: Coinomi is available on desktop and mobile devices.
Cons of Coinomi Wallet
Limited Storage: If you have many cryptos, you must store them all on your device or somewhere else convenient.
Incompatible With Other Apps: Coins stored in Coinomi can’t be used in other apps unless installed on your device and integrated with the Coinomi wallet.
09 – Cold Wallet – Trezor
Trezor was one of the first cold hardware wallets on the market and has become a popular choice for those looking for secure storage for their digital assets. While most NFT wallets are software-based, Trezor is a small, USB-sized device that can be connected to a computer or mobile phone.
It supports many cryptocurrencies, including Bitcoin, Ethereum, Litecoin, NFTs, and many others. Trezor is an ideal choice for those looking for secure storage for their digital assets.
While Trezor does not natively support NFTs, you can still store your NFTs on Trezor by using a third-party application such as MetaMask and connecting it with Trezor. Once done correctly, your NFTs are secured and offline.
Trezor stores the user’s private keys in a secure offline environment and allows the user to sign transactions using Trezor’s built-in OLED display. Trezor is also web-compatible, meaning it can be used with any computer or mobile device with an internet connection.
Pros of Trezor Wallet
Security: One of the primary advantages of the Trezor wallet is that it is highly secure. The wallet uses various security features to protect your coins, including a PIN code, a passphrase, and two-factor authentication. Additionally, the Trezor wallet is immune to malware, meaning that your coins will never be at risk of being stolen by hackers.
Ease of Use: Another advantage of the Trezor wallet is that it is very easy to use. The wallet’s interface is designed to be user-friendly and can be used with any computer or smartphone.
Privacy: The Trezor wallet also offers its users a high level of privacy. The wallet does not collect any personal information from its users, meaning that your identity will never be at risk when using the Trezor wallet.
Customer Support: If you ever have problems with your Trezor wallet, you can rest assured knowing you will receive excellent customer support. Additionally, the Trezor website provides a wealth of resources that can be used to troubleshoot any problems you may encounter
Cons of Trezor Wallet
Security Concerns: Some users have raised concerns about the security of Trezor wallets, as no centralized entity backs them. Additionally, if a user loses their Trezor device, they cannot access their funds.
10 – Cold Wallet – Hardware NFT wallet – Ledger Nano S
Ledger Nano S is a hardware cold wallet and supports BEP2, Binance Chain, Binance DEX, BEP20, Binance Smart Chain, Ledger Live, NEP5, Neo, NEON wallet, SOL, Solana, and many others.
Several hardware wallets are available, but Ledger Nano S is one of the oldest and best hardware crypto wallets. The built-in wallet app is highly secure. Moreover, the wallet app provides a secure interface.
The ledger nano S is a hardware wallet that can store NFTs offline. This means that your NFTs will be safe from hacks and theft, and you’ll be able to track them all in one place easily. If you plan to collect and store NFTs for a longer period, the ledger nano S is a must-have tool.
Pros of Ledger Nano S Wallet
Security: One of the most significant advantages of the Ledger Nano S wallet is its security features. The Ledger Nano S uses a secure chip that stores your private keys offline, away from hackers’ reach. The Ledger Nano S also requires you to confirm each transaction with a physical button.
Ease of Use: Another advantage of the Ledger Nano S is its ease of use. The Ledger Nano S is a Hierarchical Deterministic (HD) wallet, which means it can generate unlimited addresses from a single seed phrase. This makes it easy to keep track of your different accounts and transactions.
Support for NFTs: The Ledger Nano S can store any ERC-20 token, including NFTs. This makes it an ideal option for investing in or trading NFTs.
Cons of Ledger Nano S wallet
No Exchange Support: Another disadvantage of the Ledger Nano S wallet is that it does not support exchanges. This means that users cannot sell or trade their NFTs directly from the wallet. Instead, they will need to use a third-party service to do so.
Our Recommendations
There are several different types of wallets that you can use to store your NFTs. Regarding non-custodial hot wallets, Math and MetaMask wallets provide features and compatibility that no other wallet offers. Math wallet is available to users in both hot and cold storage options. Among hardware wallets, we recommend Trezor as the best overall NFT wallet.
