Cardano is a blockchain where ADA cryptocurrency lives. It’s mostly used for sending and receiving digital funds. At the moment, it’s the 9th most popular cryptocurrency with a market cap of around $10 billion. Now, since you came to this best Cardano wallet review, you probably already know that.
If you happen to have a huge amount (or simply the amount that you couldn’t afford to lose) of ADA coins, you should also find a reliable wallet for them. After all, storing your assets on cryptocurrency exchange platforms is highly unrecommended. Due to the lack of security, millions worth of cryptocurrencies are being stolen each year.
In this best Cardano wallet list, you will find two different types of wallets - hardware and software. I will introduce you to each of them one by one and help you to make the right decision. Here are the top 7 options that are considered to be some of the best Cardano wallets and will be discussed in this article:
- Ledger Nano X
- Ledger Nano S Plus
- Coinbase Wallet
- Trezor Model T
- Trezor One
- Guarda Wallet
- Atomic Wallet
Let’s begin with the introduction to different types of wallets that can be found in the market. It’s easier to choose a wallet for your personal needs when you have a broader understanding.
Best Cardano Wallet: Different Types of Options
There are four different types of wallets that you’ll be able to find when looking for the best Cardano wallet. Here’s the list where you can find all of them:
- Online wallets
- Software/app wallets
- Hardware wallets
- Paper wallets
Each of these wallets comes with different perks and quirks and can be recommended for different individuals. Before moving to the best Cardano wallet list, you should have a broader understanding of each of them.
Online Wallets
Online wallets are known to be the least secure. If you’re choosing such a wallet, you should truly rely on the provider. While the majority of top-tier online wallets do not store your private keys, your coins can still be stolen in case someone manages to hack it.
The main advantage of such wallets is usability. To access online wallets you will only need to have an internet connection. Also, it’s super easy to make transactions because your private keys are stored on their servers.
All things considered, online wallets can be only recommended if you store small amounts of cryptocurrencies. Otherwise, you should go for more secure options.
Software/App Wallets
If you’re planning on making daily trades, then software wallets can be a really good choice. They’re more secure than online storage, however, not as reliable as hardware wallets.
Software or app wallets are super easy to use. What is more, you can keep track of your assets on the go by using a mobile app. The reliability of software wallets completely depends on the platform. There are some really secure options that I’ll introduce when talking about the best Cardano wallet, however, you can also come across less reliable providers, not in this article, though.
All in all, software wallets are recommended for people who make multiple transactions throughout the day, and also for those who store small amounts of cryptocurrencies in them.
Hardware Wallets
When looking for the best Cardano wallet, you’ll notice that the most recommended options are hardware wallets. They’re also known as cold wallets because your private keys are stored offline, so there won’t be any hacking issues.
The majority of high-quality hardware wallets are made of durable materials, meaning that you shouldn’t be worried about dropping or breaking them. Also, the recovery process is usually pretty simple in case you lose it.
Of course, when it comes to hardware Cardano wallets, they’re not as easy to use as online or software ones, however, if you store huge amounts of cryptocurrencies, getting such a wallet is a must.
Paper Wallets
While paper wallets are considered to be the most secure, in case you lose them or some kind of water accident happens, your cryptocurrencies are lost. This is the only non-technical way to store your cryptocurrencies.
If you choose a paper wallet, then you will need your public keys every time when making a transaction. Needless to say, it can be really time-consuming, however, such wallets are amazing if you consider ADA coins as a long-term investment.
Now that you have a basic understanding, let’s take a look at the best Cardano wallets.
Did you know?
Ever wondered which crypto wallets are the most secure for your crypto assets?
Best Cardano Wallet: TOP 7 Options
In the “best Cardano wallet” list, you’ll find a variety of picks, however, you should be aware of different factors that you should take into account when choosing the best ADA wallet for your needs.
Let me quickly go through those aspects:
- Security. Security is definitely the most important factor you should consider when deciding which Cardano wallet to choose. All the other aspects are not important if your security is at risk.
- Usability. A good cryptocurrency wallet should be easy to use and have a clear interface. This factor may not be as important for those who consider ADA coins as a long-term investment, however, is crucial for those who perform multiple transactions throughout the day.
- Mobility. How easy it is to access a wallet? Also, if we’re talking about a hardware wallet, make sure that the recovery process is easy in case you lose it, and take into account the materials that it’s made of. They should be physically damage resistant.
- Supported coins. Even though now you’re looking for the best Cardano wallet, you might decide to use it for storing other cryptocurrencies in the future. That's why it’s important to make sure that the wallet supports a good amount of cryptocurrencies. You’ll be surprised to hear that some of them support thousands of different assets.
Each of the wallets comes with different pros and cons, that’s why every individual should choose an option after evaluating their personal wants and needs. Now it’s time to jump to the best wallet for the Cardano list and find the most suitable option for you.