The 5 Best NFT Wallets

If you want to invest or trade in non-fungible tokens (NFTs), then a good NFT wallet indispensable. So many people, so many wants, so there is a wide selection on the market. How do you make the right choice now? In this article, I’ll take you through the basics of NFTs and NFT wallets, then dive into an important topic: security.

A good NFT wallet has different characteristics that we will all discuss. If you know what to look for, then you are also able to make the right choice. As we always say: DYOR (Do Your Own Research)! Finally, we dive in the best NFT wallets at the moment (July 2022) so you can make an informed choice. We provide an introduction per wallet, discusses the benefits and shares some useful articles and videos.

NFTs are hot and will mean a lot more to us in the future. It is so much more than just digital art pictures as you will have discovered by now. Read on and immerse yourself in the world of NFT wallets so you can buy, sell and store your favorite tokens. Are you ready? Then we will investigate together, because you really do not want to miss this boat!

Take a quick look

What are NFTs?

An NFT is an abbreviation of the term non-fungible token. It represents a unique item, such as a piece of digital art, a ticket to an event, an in-game item, or a unique sneaker in a limited collection. If something is fungible, it means that it is easily replaced. As you can guess, something that is non-fungible is therefore unique and cannot be replaced.

There are several tens of thousands of tickets available for an average Ajax football match, but if you buy a ticket, you won’t have the exact same ticket as your neighbor. You all have the same kind of ticket in terms of layout, but both have a unique ticket number. Want to dive deeper into what NFTs are, what the pros and cons are, and how you can learn more about these non-fungible tokens?

Read this comprehensive article by my colleague Matt or watch the video below:

What is an NFT Wallet

Now that you know a little about NFTs, let’s move on to the next part: the wallet for your NFTs. When you buy NFTs, you are not actually buying anything but a token that is on the blockchain. This means that you store a non-fungible token just like you store any other token, namely in a wallet! It is good to dive into the protocol.

If you buy an NFT which is on the Bitcoin blockchain, you cannot store it in a wallet made for Ethereum tokens. Most NFTs now run on the Ethereum blockchain and use the ERC721 protocol. This is considered the standard protocol for NFTs at the time of writing (July 2022). The security of the wallet is also a point of attention, but we will explain that to you below.

How to keep your NFTs safe

In a world of Web3, NFTs and crypto, security is a valuable commodity. If you compromise on security, you can lose all your investments and collections in no time, so don’t compromise on this at all! These are common security issues to consider:

  • Fraud, such as phishing
  • bad links
  • Fake accounts and fake pages
  • Hackers

It is good to realize that NFTs can become very valuable and as a result attract criminals. There are a number of measures you can take, such as saving your seed phrase offline, using a hardware wallet, using secure passwords, not clicking on corrupt links, and enabling 2FA. Matt has also recorded a practical video for this:

Characteristics of a good NFT wallet

A good NFT wallet will help you manage and trade your assets optimally, but how do you make that choice. We will outline the 5 best NFT wallets of this year below, but before we do, I will tell you a little about the features. What things should you pay attention to when choosing the right wallet for your non-fungible tokens?

  • Applicability is enormously important. You want a clean, intuitive interface that makes shopping easy. For many beginners, NFTs are already a complex subject, let alone having to think about other difficult choices as well. Definitely choose a provider that focuses on easy-to-install and user-friendly products, such as a mobile app;
  • Cross chain compatibility is a fluke, so if you plan to make your mark on multiple networks, pay extra attention to this. As we discussed above, most NFTs are still on the Ethereum blockchain, so you need a wallet that uses this protocol. If you have a wallet that is interoperable, you can store NFTs from different networks in one wallet;
  • Connection to dApps and marketplaces possible to make, it makes your hobby even easier. If you can connect your wallet with, for example, a web browser or NFT marketplace OpenSea, you can switch faster and easier;
  • Security and backups is also part of a good NFT wallet. By being able to make backup copies, you can prevent the loss of your assets. And of course, security is really key, especially in NFT land, so in addition to the above features, pay close attention to this!;
  • Support and customer service are extremely useful. When you get stuck somewhere, have questions about security or how it works, you can count on a solid team and a thriving community.

5 Best NFT Wallets in 2022

1. MetaMask

MetaMask is by far the best known and most popular crypto wallet of our time. My opinion doesn’t matter, but personally I think this is the best of all the wallets I own. It is a user-friendly browser wallet in which you can store your cryptocurrencies as well as your NFTs. Here you can read our extensive blog about MetaMask Wallet, but for the sake of efficiency I will share the benefits with you here:

  • it is open source codeso that the whole community can contribute to the development of the wallet;
  • By the so-called hierarchical deterministic settings is it possible to get one back up your account – very practical!;
  • The wallet has integrated ShapeShift and Coinbase exchanges, so you Easily exchange ETH and other ERC-20 tokens;
  • Intuitive user interface;
  • Reliable customer serviceso that you are always helped along the way if you have any questions.

Note: an online wallet like MetaMask is more vulnerable than a hardware wallet as you have the chance to be hacked. The web browser collects user data, so your security is not completely covered. Pay attention to this! Watch an AllOverCrypto production about the MetaMask Crypto & NFT Wallet below:

2. Coinbase wallet

The Coinbase wallet also has a lot of brand awareness, and it’s not for nothing, because the exchange naturally generates a lot of attention. The wallet is suitable for holding NFTs and other tokens with the aim of having total control for the holder. In 2021, they launched a browser extension that made it easier for users to switch. A big advantage of the Coinbase wallet is the use of usernames instead of wallet addresses, which usually consist of difficult, long codes. The benefits of Coinbase at a glance:

  • well securitythanks to 2FA;
  • Multi-signature access for all users;
  • Full support from the globally recognized exchange Coinbase;
  • Easier access and restriction to NFTs, altcoins and stablecoins, thanks to advanced settings;
  • Mobile versionfor access via your phone or browser;
  • Supports many dApps and coins on the ERC-20 protocol, from Aave to ZRX.

Are there also disadvantages? Yes, currently no Bitcoin (BTC) can be stored in the Coinbase wallet. It is not very attractive, especially for beginners in the crypto scene. Watch a popular video about using the Coinbase wallet below:

3. Binance Wallet

Binance, which does not know the exchange. As is the case with Coinbase, this exchange also has a wallet: Binance Wallet. You also download this online wallet as a browser extension, and due to the convenient interface, there is no doubt about how it works. Right on target to mint, buy, sell or hold your NFTs. The advantages of this wallet are clear:

  • Users can dApps on the platform launch;
  • fast Fiat pays out;
  • Easy access and simple installation;
  • Access to NFTs on your Ethereum wallet and Binance Smart Chain;
  • high liquidity and NFT volume;

If we have to point out disadvantages, users indicate that the supply of non-fungible tokens is limited. Also, it is only possible to work through the web browser, which makes the NFTs more difficult to access. Watch a video on how to use Binance Wallet below:

4. Math Wallet

The Math wallet will also appeal to fans of MetaMask. The striking thing about this NFT wallet is that it is compatible with no less than 70 blockchains! You have a web, desktop and mobile version where synchronization is not a problem. The advantages of this wallet can be easily summarized as follows:

  • Support and access to 70+ blockchains;
  • Access dApp stores;
  • Optimal security;
  • Simple replacement of cryptocurrencies;
  • Get in touch with you quickly hardware wallet.

A disadvantage may be that Math Wallet is still under development, which means that operations and services are sometimes moved. You cannot pay by card, so that is also a disappointment. Watch a video of Wallet below:

5. Alpha Wallet

The last NFT wallet we will discuss today: Alpha Wallet. If you want to invest in NFTs on the Ethereum blockchain, this is a good choice for you. You can store non-fungible tokens in it and the wallet also supports multiple marketplaces such as OpenSea and ChainZ Arena. The user interface is simple and clear, which makes it user-friendly and at the same time looks fresh. The advantages of AlphaWallet:

  • Support for ETH-based NFTs;
  • Easy to use – intuitive interface;
  • Excellent open source web3 wallet;
  • Able to blockchain transaction speeds tweaking;
  • Optimal securitythanks to Secure Enclave.

The wallet is still in development and is only available through the mobile app, which may be a bummer for many users. Watch the video below for today’s web3 wallet:

Do you think this list is still a little short and would like to consider other options? Then take a look at other wallets such as:

Conclusion

We have discussed everything about NFT wallets in this article. If you want to buy, sell or store your non-fungible tokens, then you know what to be aware of. Is the wallet user-friendly? Does it support the right blockchains and tokens? Is the security in order and does it work to the users’ satisfaction?

We’ve also reviewed the characteristics of a good NFT wallet so you can research other wallets yourself. I have shared with you the 5 best NFT wallets. At the time of writing (July 2022) these are the best wallets for non-fungible tokens: MetaMask, Binance Wallet, Coinbase Wallet, AlphaWallet and Math Wallet.

Looking for more information or have questions about the best NFT wallets? Or would you like to meet other crypto enthusiasts? In our product’s free Discord channels Money Mastery from AllesOverCrypto you can ask questions and meet thousands of other crypto enthusiasts. Have other crypto-related questions? The easiest way is to look up your question in our FAQ. Another thing you can do is google your question + All about crypto. Let us know what you think about the best wallets for non-fungible tokens!”

Photo by Mo Eid

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